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Olympia 66, owned by Hang Lung Properties, is a landmark retail destination in Dalian, Liaoning Province, China, opened in December 2015.
Spanning 221,900 square meters of gross leasable area across seven levels, it serves as the city"s largest shopping, lifestyle, and entertainment complex on Wusi Road, adjacent to Olympic Square for optimal visibility. The property targets a luxury-led positioning with a diverse tenant mix: approximately 40% luxury fashion and accessories (brands like Dior, Rolex, Miu Miu, COS), 20% beauty and personal care (Kiehl"s, Pandora), 30% F&B outlets, and 10% entertainment and leisure spaces, including over 200 stores with debuts like Apple and Under Armour.
As of December 2023, occupancy rate is 98%, with rental revenue up 19% and tenant sales up 29% year-on-year, driven by post-pandemic recovery and events. Daily footfall averages 25,000 visitors, supported by Dalian"s 7.2 million population, affluent demographics (middle-upper income, young professionals aged 25-45), and tourism influx.
Accessibility is strong via metro, buses, and parking for 1,500 vehicles. In Dalian"s retail market, with 3.3 million sqm stock and 2% growth in 2023, Olympia 66 holds a premium position amid moderate competition from My World and Gala Plaza.
Leasing advantages include stable rents (RMB 800-1,200/sqm/month for prime areas), flexible terms with turnover rents (5-15% above thresholds), and high operational quality. Drawbacks encompass economic slowdowns impacting discretionary spend, online retail competition, and seasonal winter dips in traffic.
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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 Footfall
Dalian"s population of 7.2 million provides a robust catchment, with Olympia 66 attracting middle to upper-income households (annual income >RMB 100,000) and young professionals aged 25-45, comprising 60% of visitors. The area benefits from urban migration and tourism, with 15% YoY footfall growth to 25,000-30,000 daily in 2023, per Hang Lung reports. Proximity to Olympic Square enhances event-driven traffic, though challenges include aging regional demographics and competition from e-commerce reducing impulse buys by 10-15%.
Tenant Mix and Occupancy
The curated tenant mix focuses on luxury (40%), F&B (30%), beauty (20%), and leisure (10%), featuring anchors like Uniqlo, Zara, and premium brands such as Givenchy and Swarovski, totaling over 200 outlets. High occupancy at 98% as of 2023 reflects strong leasing demand and low turnover, supported by strategic upgrades. Weaknesses include saturation in mid-tier fashion and vulnerability to category shifts, with F&B performing well at 95% occupancy but electronics lagging due to online alternatives.
Competition and Lease Terms
Olympia 66 faces competition from 10+ malls in Dalian, including Friends Link and online platforms, pressuring non-luxury sales by 5-10% amid 2% retail stock growth in 2023. Rents range RMB 600-1,500/sqm/month, typically base plus 5-15% turnover over thresholds, with 3-5 year terms favoring established brands. Risks involve market saturation and infrastructure maintenance costs, but advantages include prime location and high sales per sqm (RMB 8,000+ annually), per Cushman & Wakefield data.
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Dalian
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City Snapshot
Dalian
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