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Hong Kong Rent Topping Manhattan Doesn’t Faze Forever 21: Retail

Retailers from Forever 21 Inc. to Gap Inc. have rushed to Hong Kong to reach the 28 million Chinese tourists passing through last year. To do so, they are paying some of the world's highest rents.

Hong Kong retail rents, which rose 32 percent in prime locations last year according to Savills Plc estimates, may climb more even as global economies and property markets slow. That may make marketing to Chinese teenagers in Hong Kong’s Causeway Bay as expensive -- or even more -- than a storefront in New York’s Times Square.