Chinachem's Executive Director and Chief Executive Officer, Mr. Choi Wang-hing, said yesterday at a drumming event at the Central Market that the local property market is beginning to pick up and property prices are expected to rise by 8% to 10% this year, but the Group will not deliberately speed up the pace of property launches.

As for the URA's Cheung Sha Wan Tokyo Street project, it is awaiting the approval of the pre-sale consent and will be launched within this year.

Talking about the new round of consumption vouchers distributed by the government on the day before yesterday, Mr. Choi said the Group's shopping malls have seen an increase in patronage and believes that the vouchers can boost people's desire to spend, with the food and beverage industry benefiting the most.

Speaking earlier about the Group's plan to invest in the retirement business in Nansha, he said the Group has already conducted a research team to Nansha for the study.

Chinachem and the Hong Kong Chinese Orchestra (HKCO) have collaborated to organise "Drumming Connecting the World", a series of drumming activities, including "Drumming Connecting the Community" drumming training and performance filming across 18 districts, "#DrumChallenge", an online drumming challenge, "Drumming Workshops" at Central Market and Nina Tower respectively, "Drumming in the World" at the West Kowloon Cultural District, and "Drumming in the World" at the West Kowloon Cultural District. He hopes to bring positive energy to the public through these activities, and plans to set up a Chinachem Drum Corps.