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KK One is a modern shopping center located in the Xiasha area of Futian District, Shenzhen, China, which opened on May 29, 2016.
Spanning approximately 100,000 square meters across five stories, the mall features a unique loop formation interior design inspired by a native butterfly species, emphasizing natural light and open spaces. It is strategically positioned near Binhe Square, with excellent accessibility via Shenzhen Metro Line 9 (Xiasha station) and multiple bus routes, facilitating high commuter and tourist traffic.
The property serves as a key retail destination in Futian, Shenzhen's central business district, benefiting from the city's status as a global tech and innovation hub.
Tenant mix includes a diverse array of over 200 stores, comprising international fashion brands like Zara, H&M, and Uniqlo, local Chinese retailers, electronics outlets, and a strong emphasis on food and beverage options with more than 50 eateries ranging from casual dining to upscale restaurants. Entertainment facilities feature an IMAX cinema, ice skating rink, and children's play areas, enhancing dwell time and footfall.
Market position is solid within Shenzhen's competitive retail landscape, where Futian hosts premium malls like MIXC and COCO Park, but KK One differentiates through its ecological design and proximity to office towers, attracting young professionals and families.
Occupancy rates are estimated at around 95% based on recent commercial reports, reflecting stable demand amid Shenzhen's retail vacancy rate of 8-10%.
Leasing advantages include flexible space configurations from 50 to 5,000 sqm, turnover rents tied to sales performance, and promotional support from mall management. However, retailers face challenges from intense competition and economic pressures impacting consumer spending. Average ground-floor rents in Futian hover at RMB 500-600 per sqm per month, competitive yet pressured by a 2% quarterly decline in 2025 per JLL data.
The surrounding demographics feature a median age of 32, high disposable income averaging RMB 80,000 annually, and a population density supporting 20 million annual visitors across Futian retail venues.
Operational quality is high with modern infrastructure, but potential risks include aging adjacent roads and seasonal footfall dips during rainy seasons.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Accessibility
Futian Districts demographics include a young, affluent population with a median age of 32 and average annual household income exceeding RMB 80,000, driven by tech professionals from nearby Shenzhen High-tech Park. KK One benefits from strong accessibility, directly connected to Metro Line 9, which sees over 1 million daily riders, contributing to estimated footfall of 5-7 million visitors annually. This supports robust retail performance, though competition from nearby malls may dilute traffic during peak hours. Risks include traffic congestion on surrounding avenues, potentially impacting last-mile access for drivers.
Tenant Mix and Occupancy
The tenant mix at KK One comprises 40% fashion and apparel, 30% F&B, 15% electronics and lifestyle, and 15% entertainment and services, featuring brands like Apple, Nike, and local chains such as Mixue Ice Cream. Occupancy stands at approximately 95%, above the city average of 90%, per Cushman and Wakefield reports, indicating strong leasing demand. This balanced mix drives synergy and cross-shopping, but weaknesses include over-reliance on mid-tier brands amid market saturation in fast fashion, with potential challenges from e-commerce competition eroding physical sales by 10-15% yearly.
Rent Levels and Market Risks
Prime rents at KK One range from RMB 550-650 per sqm per month for ground floor spaces, aligned with Futian averages from Savills Q1 2025 data, offering a 5-10% premium over secondary locations due to high visibility. Lease terms typically span 3-5 years with annual escalations of 5%, including turnover components for performance-based adjustments. Drawbacks encompass downward rent pressure from a 2.2% QoQ decline in Shenzhen retail per JLL, heightened competition from 20+ malls in Futian, and economic slowdowns affecting occupancy stability, particularly in non-essential categories like luxury goods.
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