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AEON Stores Signs Nine-Year Hong Kong Store Lease; Shares Plummet 7%

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AEON Stores (Hong Kong) (HKG:0984) entered a nine-year agreement with Glenfuir Investments to lease about 184,169 square feet of shop premises at Whampoa Garden in Hong Kong for nine years to operate an AEON department store.

The tenancy runs from May 1, 2026, to April 30, 2035, with a basic monthly rent of HK$7.5 million for the first three years, according to a Monday Hong Kong bourse filing.

The monthly rent for the following three years will be set at market rates, subject to a minimum of HK$8.3 million and a maximum of HK$9.2 million.

Shares of the department store operator fell nearly 7% in recent trade.

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