HK developer fights sluggish demand with lifestyle title

HONG KONG: Sun Hung Kai Properties has launched a lifestyle magazine as part of a multi-faceted marketing drive for a HK$10 billion residential development amid a protracted real estate slump.

Carrying the same name as the development, Yoho Town, the lifestyle title has been produced by Euro RSCG Hong Kong for the developer's young-at-heart target audience. The title - distributed free at all Starbucks outlets -marks the first phase in a major marketing push that will include above- and below-the-line activities and PR.

According to Josephine Lam, SHK's marketing director, sales department, the new development is SHK's most ambitious in recent years and the result of 20 years' cooperation with the Government to develop Shatin as a model new town. With flats expected to hit the market in the first quarter of 2004, SHK is tackling sluggish demand by branding Yoho Town along the lines of New York's Soho district. "It's about a lifestyle branding and we're targeting international residents or those educated overseas for this new town, where happiness is going to be the key." SHK will avoid "superficial" imagery used by other developers in recent months, added Lam. The first issue looks at family, friends, health, creativity and culture. An ad campaign will be rolled out over the next two months.

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