Festival Walk

What Festival Walk does

Festival Walk (legal entity: Festival Walk (2011) Limited) is a single-asset shopping mall located at 80 Tat Chee Avenue, Kowloon Tong, Hong Kong, directly connected to a Kowloon Tong MTR interchange station. The mall is a flagship retail property of Mapletree Pan Asia Commercial Trust (MPACT), a Singapore-listed Real Estate Investment Trust. It operates as a private property-management entity under the REIT structure. The complex houses more than 200 international retail shops and restaurants, an 8-screen ~1,200-seat flagship cinema (Festival Grand Cinema, operated by MCL Cinemas with Hong Kong's first HI-FI VIP suite), and one of Hong Kong's largest ice-skating rinks (Glacier, with an attached skating school and pro shop, Inside Edge). Publicly disclosed infrastructure includes 830 parking spaces equipped with over 100 EV charging stations (Tesla Superchargers plus fast and medium chargers), a year-round programme of IP-led pop-up exhibitions and brand collaborations, and approximately 90 pet-friendly tenants.

The core product and technology stack is anchored on the My FESTIVAL mobile app (iOS/Android), which integrates loyalty point accrual across credit/debit, EPS, UnionPay and Octopus payment rails, contactless carpark entry and autopay via registered Octopus cards, a personalised itinerary planner, real-time parking availability, and digital gift card management. The Festival Walk Gift Card programme runs HK$200/500/1,000 retail denominations plus custom HK$100–HK$7,500 corporate denominations through a 33 Finance backend, accepted at 160+ outlets across the mall. Cross-border payments are enabled via an AlipayCN integration powering the Shopping Rewards 2026 rebate programme for mainland Chinese visitors. The mall's distribution and customer acquisition channels combine the MTR interchange, bus/minibus/taxi access, the car park, the mobile app, social media (Facebook FestivalWalkHK, Instagram festivalwalk_hk, WeChat), email/newsletter, and an in-house LG2 exhibition area (~14.6m x 9.86m Area A; 17m x 7.5m Area B) leased to pop-up tenants via a dedicated leasing channel.

The business model is a multi-stream commercial-property operation. Primary revenue is generated by leasing retail and F&B space to 200+ tenants across fashion, beauty, electronics, dining and entertainment categories on subscription/recurring lease terms; secondary streams include transaction-fee revenue from Festival Grand Cinema and Glacier admissions, the gift card programme (transaction-fee settlement through 33 Finance), hourly/overnight/day parking services (HK$24–26/hr Mon–Thu and Fri–Sun respectively; HK$100 night; HK$130 weekday day parking) and the loyalty programme (freemium with Elite tier perks). Customer segments are hybrid: affluent Kowloon Tong residents and trend-setters, neighbourhood office workers, university and international-school students, corporate gift-card buyers, and cross-border mainland Chinese shoppers via AlipayCN. Pricing across ancillary services is exposed publicly through the mall's website and parking, Glacier and gift card terms.

Name

Festival Walk

Legal name

Festival Walk (2011) Limited

Website

https://festivalwalk.com.hk

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Festival Walk is a Hong Kong shopping mall in Kowloon Tong, owned by MPACT REIT, housing 200+ retail and F&B tenants plus Festival Grand Cinema and Glacier ice rink. It generates revenue from leasing, parking, entertainment, gift cards and the My FESTIVAL loyalty programme, serving affluent shoppers, students, office workers and mainland Chinese visitors.

Ownership category

akta.pro rank

Product category

Shopping Mall Operations

NAICS

All Other Amusement and Recreation Industries (71399), Promoters of Performing Arts, Sports, and Similar Events with Facilities (711310)

SIC

Services-Amusement & Recreation Services (7900), Retail-Variety Stores (5331)

akta.pro primary industry

Local Community & Multi-Category Fairs (MPAGAFAO)

Keywords

• Shopping mall operations
• Retail leasing services
• Mall entertainment venues
• Customer loyalty programs
• Parking facilities management

Headquarters

HQ city

Kowloon City

HQ country

Hong Kong SAR China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Retail and Restaurant Tenant Leasing: Festival Walk generates primary revenue by leasing retail space to over 200 international brands and restaurant operators. Tenants include fashion, beauty, electronics, F&B, and entertainment concepts.
2. Entertainment Facilities: Revenue is generated from Festival Grand Cinema (operated by MCL Cinemas) and Glacier ice-skating rink, which serve as major footfall drivers for the mall.
3. Gift Card Program: Festival Walk Gift Card provides prepaid gift cards in denominations of HK$200, HK$500, HK$1,000, and custom values (HK$100–HK$7,500 for corporate customers). Accepted at 160+ outlets including supermarkets, F&B, cinemas, and fashion retailers. Managed by 33 Finance.
4. Parking Services: Revenue from hourly parking fees (HK$24/hour Mon–Thu; HK$26/hour Fri–Sun & public holidays), overnight parking (HK$100 from 9pm–8am), and contactless parking autopay via the Festival Walk app.
5. Loyalty Programme (My FESTIVAL): Free-to-join loyalty programme where members earn bonus points on credit/debit card, EPS, UnionPay, and Octopus spend. Points redeemable for shopping vouchers, free parking, and gifts. My FESTIVAL Elite members receive 2 hours free parking daily with no spending requirement.

Pricing tiers

Distribution channels5 records

Marketing channels8 records

Core offering

Festival Walk is a large-scale urban shopping mall in Kowloon Tong, Hong Kong that leases retail and restaurant space to over 200 international brand operators and provides on-site entertainment (Glacier ice-skating rink and Festival Grand Cinema), parking, a loyalty programme (My FESTIVAL), a branded gift card, and a mobile app with contactless services. Revenue is generated primarily from tenant rent, supplemented by parking fees, gift card transactions, and ancillary entertainment services.

Product overview

Festival Walk (又一城) is a shopping mall in Kowloon Tong, Hong Kong, operated by Mapletree Pan Asia Commercial Trust (MPACT). The property features over 200 international retail shops and restaurants alongside entertainment facilities. The core product portfolio consists of the Festival Walk Mobile App providing digital services including itinerary planning and contactless parking; the My FESTIVAL loyalty programme enabling point accumulation and redemption; Festival Walk Gift Cards for prepaid gifting; entertainment venues Glacier ice skating rink and Festival Grand Cinema operated by MCL Cinemas; and ancillary services including EV charging, pet-friendly facilities, and parking management. These offerings work together to deliver an integrated shopping, dining, and entertainment experience.

Differentiator

Problem solved

Functional benefit

Brands

• Festival Grand Cinema: Flagship cinema operated by MCL Cinemas featuring eight screens and approximately 1,200 seats, with VIP suite equipped with HI-FI grade sound system.
• Glacier
• My FESTIVAL

Products and services

• My FESTIVAL Loyalty Programme

Quantifiable outcome

• Festival Walk Gift Card accepted at over 160 outlets across the mall
• +4 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pacific Place: Swire Properties' flagship mall at the Admiralty MTR interchange, combining luxury retail, dining, hotel, and office space; directly comparable in scale, premium tenant mix, and transport-anchored footfall.
• APM: Sino Group's Kwun Tong mall positioned around entertainment, F&B, and late-night shopping; directly comparable on entertainment-anchored tenanting and Kowloon commuter catchments.
• IFC Mall: Sun Hung Kai Properties-owned premium mall in Central Hong Kong with international retail, dining, and entertainment; directly comparable to Festival Walk as an upper-tier Hong Kong shopping destination anchored by MTR access and high-end tenants.
• Harbour City: One of Hong Kong's largest mixed-use complexes in Tsim Sha Tsui (Wharf REIC), housing 450+ retail and F&B outlets plus cinema and entertainment; directly comparable on tenant scale, entertainment layer, and tourist-driven traffic.
• ION Orchard: CapitaLand-owned premium Orchard Road mall in Singapore combining flagship retail, dining, and entertainment with direct MRT interchange access; directly comparable to Festival Walk as a Mapletree-/REIT-adjacent prime shopping destination in Asia.
• Elements: MTR Corporation-owned mall directly atop Kowloon Station with cinema, international F&B, and retail; directly comparable as a transit-anchored Hong Kong shopping destination courting cross-border and commuter traffic.
• Marina Square: Multi-tenant Singapore mall next to Marina Bay with retail, dining, cinema, and entertainment; comparable as a sister asset within Mapletree's regional retail portfolio operating at a similar scale and tenant mix.
• Times Square Hong Kong: Hysan Development's vertical shopping and entertainment complex in Causeway Bay featuring multi-screen cinema and a broad tenant mix; directly comparable as a major Hong Kong shopping destination combining retail, dining, and entertainment.
• Langham Place: Great Eagle Holdings' Mongkok mall featuring flagship cinema, ice-skating concepts, and youth-oriented retail; directly comparable to Festival Walk in combining cinema, recreation, and a Kowloon mass-market positioning.

Broad incumbents

• Link REIT: Hong Kong's largest REIT and dominant owner/operator of neighbourhood and destination malls across HK; broadly comparable as a portfolio retail-property operator that competes with Festival Walk for tenant share-of-wallet and prime retail real estate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FestivalWalk

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Festival Walk