Festival Walk
A large mixed-use shopping and entertainment centre in Kowloon Tong, Hong Kong.
Last updated August 31, 2026
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Overview
Festival Walk is a major shopping and leisure complex in Kowloon Tong, Hong Kong. The centre is directly connected to Kowloon Tong station, an interchange for the Mass Transit Railway's East Rail and Kwun Tong lines, and also has a pedestrian connection with City University of Hong Kong. Its location gives it a substantial customer base among local residents, students, office workers, and railway passengers. The project was developed on a technically difficult, approximately 21,000-square-metre site by Swire Properties and CITIC Pacific. The land was narrow and terraced, while the Kwun Tong line tunnels run along the length of the site. Construction required the excavation of approximately 460,000 cubic metres of earth for four basement levels. The partners won the government land auction in 1993, construction began in 1994, and the complex was completed and opened in November 1998. At opening, it was described as Hong Kong's largest shopping mall. Festival Walk combines retail, dining, entertainment, transport-oriented amenities, parking, and offices. The mall has approximately one million square feet of retail space spread over several lower-ground, ground, and upper-ground levels, with roughly 220 shops and restaurants. Its entertainment facilities include a multiplex cinema and an indoor ice rink. A three-level car park provides capacity for approximately 830 vehicles, while around 220,000 square feet of offices are located above the retail podium. Architecturally, the centre is organized around a long, six-level atrium measuring approximately 120 metres by 30 metres. A glass skylight brings daylight into the interior, and the uppermost mall level includes a food court overlooking the skating rink. The centre has generally been positioned as a comfortable, service-oriented, middle-market destination rather than a discount-led shopping venue. Its tenant mix has included mid-market and higher-end international fashion, lifestyle, beauty, food, and restaurant brands, including Agnes b., Calvin Klein Jeans, Hollister, H&M, Juicy Couture, and Kate Spade New York at various times. Ownership changed substantially after the original joint venture. Swire Properties bought CITIC Pacific's 50 percent interest in 2006, taking full ownership. Mapletree Investments acquired Festival Walk in July 2011 for a reported property value of HK$18.8 billion. The asset was subsequently transferred in 2013 to Mapletree Greater China Commercial Trust as one of its seed assets. That trust was renamed Mapletree North Asia Commercial Trust in 2018 after the addition of a Japanese portfolio. The property is managed by Mapletree North Asia Property Management Limited. Festival Walk has also been affected by operational and civic events. In March 2014, unusually large hailstones damaged roof glazing during a severe thunderstorm, causing extensive water ingress and temporary disruption. In November 2019, during the Hong Kong protest period, protesters entered the mall and caused extensive damage to glass barriers, windows, and interior areas; a Christmas tree was also set on fire. The centre remains an active Hong Kong retail and entertainment property, although its tenant composition and operating details change over time.
History
Festival Walk was conceived as a large, transit-connected retail and entertainment development in Kowloon Tong. Swire Properties and CITIC Pacific formed a 50:50 joint venture and secured the development site through a Hong Kong government land auction in 1993. The partners paid HK$2.9 billion for the plot and planned a complex combining shopping, dining, entertainment, offices, parking, and a direct connection to the mass-transit network. The site presented unusual engineering constraints. It covered approximately 21,000 square metres, had a narrow and terraced configuration, and contained the tunnels of the Kwun Tong line along its full length. Four basement levels had to be constructed, requiring the removal of approximately 460,000 cubic metres of earth. Construction started in 1994 and was completed in 1998. Festival Walk opened in November 1998 and was then regarded as Hong Kong's largest shopping mall. The completed complex was arranged as a seven-storey retail environment incorporating three lower-ground levels, a ground level, and three upper-ground levels. Its central architectural feature is a long, six-level atrium covered by a glass skylight. The design allows natural light to reach much of the internal circulation space. Retail and restaurant units occupy the main mall levels, while an upper-level food court overlooks the indoor ice rink. A cinema and a multi-storey car park add further visitor functions, and office floors are positioned above the shopping centre. Festival Walk's market role has generally been that of a comfortable, service-led mall rather than a low-price outlet centre. Its catchment includes nearby residential districts, students and staff from City University of Hong Kong, office users, and passengers transferring through Kowloon Tong station. The tenant mix has combined international fashion and lifestyle brands with restaurants, food outlets, entertainment operators, and local services. The mall has also provided customer information facilities and broad internal circulation areas intended to support a relaxed shopping experience. The original ownership structure changed in stages. In 2006, Swire Properties bought CITIC Pacific's half share for HK$6.18 billion, making Swire the sole owner. Swire Pacific later considered whether the asset could be placed in a real estate investment trust. In July 2011, Mapletree Investments acquired Festival Walk at a reported property value of HK$18.8 billion. The transaction was described as the world's largest retail real-estate deal of that year. In 2013, the property became one of the seed assets of Mapletree Greater China Commercial Trust. The trust was renamed Mapletree North Asia Commercial Trust in 2018 after it expanded to include a Japanese portfolio. Mapletree North Asia Property Management Limited manages the property. The mall has experienced both operational changes and disruptive incidents. In 2002, a water-cooled air-conditioning system was installed at a reported cost of HK$13 million, with the developer stating that the system reduced energy consumption. Food-service areas were also equipped with waste-management infrastructure, including an organic food digester. In 2015, the long-standing AMC cinema tenancy was reported to be ending after a substantial rent increase, and an eight-screen Festival Grand Cinema opened in 2016 as its replacement. On 30 March 2014, a severe thunderstorm brought hailstones reported to be approximately the size of golf balls. The hail broke roof windows, allowing rain into the mall and contributing to ceiling failures and ankle-deep flooding in some areas. Water also overflowed into the connected railway station. Management staff assisted at the scene, but the centre was criticized for its public communication and evacuation arrangements. On 12 November 2019, during the Hong Kong protest period, protesters stormed and vandalized Festival Walk. Glass barriers and windows were smashed across major parts of the complex, and the Christmas tree was set on fire. The damage temporarily affected the mall's operations and became one of the most prominent disruptive incidents associated with the property. Festival Walk continues to operate as a major Hong Kong shopping, dining, and entertainment destination under Mapletree ownership.
- 2018
Trust renamed Mapletree North Asia Commercial Trust
[1]The owning real-estate trust adopted its Mapletree North Asia Commercial Trust name after acquiring a Japanese portfolio.
- 2016
Festival Grand Cinema opens
[1]An eight-screen Festival Grand Cinema replaced the former AMC cinema operation.
- 2013
Transferred to Mapletree Greater China Commercial Trust
[1]Festival Walk became one of the two seed assets of Mapletree Greater China Commercial Trust.
- 2011
Mapletree acquisition
[1]Mapletree Investments acquired Festival Walk at a reported property value of HK$18.8 billion.
- 2006
Swire Properties takes full ownership
[1]Swire Properties bought CITIC Pacific's 50 percent interest, ending the original joint ownership.
- 2002
Water-cooled air-conditioning system installed
[1]A water-cooled air-conditioning system was installed as part of the property's energy-efficiency measures.
- 1998
Festival Walk opens
[1]The completed shopping and entertainment complex opened in November and was described at the time as Hong Kong's largest shopping mall.
- 1994
Construction begins
[1]Construction started on the narrow, terraced site containing the Kwun Tong line tunnels.
- 1993
Development site secured
[1]Swire Properties and CITIC Pacific won the government land auction for the Kowloon Tong site with a reported HK$2.9 billion bid.
Products and positioning
A comfortable, service-oriented middle-market shopping and lifestyle destination with selected mid-range and premium international brands.
Retail and lifestyle destination · 1998
Festival Walk retail mall
The core Festival Walk complex contains approximately one million square feet of retail space and around 220 shops and restaurants. Its tenant mix has included international fashion, beauty, lifestyle, food, and service brands, with the centre positioned between mass-market and premium retail. The mall's connection to Kowloon Tong station and City University of Hong Kong supports a broad customer base beyond nearby residents.
Cinema · 2016
Festival Grand Cinema
Festival Grand Cinema is an eight-screen cinema complex that replaced the former AMC cinema at Festival Walk. It forms one of the centre's principal entertainment anchors alongside the indoor skating rink, restaurants, and retail facilities.
Sports and entertainment · 1998
Indoor ice rink
The indoor skating rink is a prominent leisure facility within Festival Walk. It is visible from the upper-level food court and contributes to the centre's positioning as a mixed shopping, dining, and entertainment destination rather than a purely retail property.
Office real estate · 1998
Festival Walk offices
Approximately 220,000 square feet of office accommodation is located above the shopping centre. The office component adds daytime workers to the property's customer ecosystem and makes Festival Walk a mixed-use complex rather than a standalone retail building.
Controversies
2019
Vandalism during Hong Kong protests
Festival Walk was stormed and vandalized during the Hong Kong protest unrest on 12 November 2019. Protesters smashed extensive areas of glazing and set fire to the mall's Christmas tree using incendiary devices, causing serious property damage and disruption.
Brand decisions
2015
AMC tenancy ends after reported rent increasePrice changeBackground
AMC had operated as a major cinema anchor at Festival Walk for more than 17 years.
Action taken
The cinema operator moved its AMC operation to Yuen Long after a reported rent increase, and Festival Walk selected a replacement cinema concept.
Aftermath
Festival Grand Cinema opened at the mall in 2016 with eight screens.
2011
Mapletree acquires Festival WalkM&ABackground
The property was offered as a major Hong Kong retail real-estate asset after Swire Properties had taken full ownership.
Action taken
Mapletree Investments acquired the property.
Aftermath
Festival Walk became part of Mapletree's commercial-property platform and was later contributed to a Mapletree real-estate investment trust.
Property value. HK$18.8 billion (July 2011)
2006
Swire Properties buys CITIC Pacific's stakeM&ABackground
Festival Walk had originally been owned equally by Swire Properties and CITIC Pacific.
Action taken
Swire Properties purchased CITIC Pacific's 50 percent interest and became the sole owner.
Aftermath
The transaction ended the original joint-venture ownership structure before the property was later sold to Mapletree.
Purchase price for 50 percent interest. HK$6.18 billion (January 2006)
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