On July 28, real estate investment management and service company JLL announced that the US fast food giant McDonald’s Corporation (hereinafter referred to as “McDonald’s”) plans to sell eight retail properties in Hong Kong, located in Tsim Sha Tsui, Causeway Bay, Mong Kok, Kennedy City, Tai Kok Tsui, Yuen Long, Tsuen Wan and Tsim Yunshan. Public tenders have been launched, with the closing date of 12 noon on September 16, and JLL is the exclusive agent.

According to JLL, the total market value of the target property is approximately HK$1.2 billion, with a market building area ranging from approximately 6,800 square feet to 19,000 square feet, and the corresponding international metric area is 631.74 square meters to 1,765.16 square meters. Buyers can choose to bid for the entire batch of properties or any property.

According to market news, McDonald’s plans to sell all its shops in Hong Kong in stages, involving 23 shops, with a market value of more than HK$3 billion. The first batch of shops are eight properties announced by JLL this time. The second batch of shops will be available for sale next year. It is tentatively set to be 8 shops including North Point and Quarry Bay, with a market value of nearly HK$1.11 billion.

Neither McDonald’s nor JLL made any public response to the sale of all shops in Hong Kong.