K11 mall founder to build 17 more centres

The founder of the K11 mall concept which debuted in Hong Kong and then was replicated in Shanghai is now planning 17 more centres in Mainland China.

Chinese billionaire Adrian Cheng founded the nonprofit K11 Art Foundation in 2010,  and subsequently opened the K11 shopping centre in the heart of Kowloon, atop the Tsim Sha Tsui railway station.

Like its successor in Shanghai, the K11 mall features frequently-changing art installations and exhibitions, merging art gallery with a retail and dining space. Works by artists including Olafur Eliasson, Damien Hirst and Yoshitomo Nara can be found in the malls.

A spokesman for Cheng’s business New World Development Company says the grand plan is to have 19 K11 spaces – mostly retail centres but also offices.

Cheng is ranked among the world’s top 20 billionaires aged under 35 with an estimated worth of US$1.4 billion.