What happened
Chinese e-commerce giant JD.com has invested more than HK$10 billion (US$1.3 billion) in Hong Kong property over the past two years, according to the report.
The company has built a network that includes stores, warehouses and other assets, signalling a broad physical expansion in the city.
Analysts cited by SCMP Tech say the move could challenge the traditional property model in which high footfall makes streets and shopping centres the most valuable retail real estate.
Why it matters
If footfall becomes less central for some retailers, the value of prime shopping locations could face pressure even as demand for logistics-oriented property rises.
This could push investors and landlords to rethink what makes Hong Kong retail property worth holding, shifting attention from customer traffic to supply-chain function.
Key facts
JD.com has invested more than HK$10 billion (US$1.3 billion) in Hong Kong property over the past two years.
The investment has produced stores, warehouses and other assets.
Analysts say the expansion could reduce the importance of footfall for some retailers while increasing the value of logistics hubs.
What to watch next
Whether JD.com continues expanding its physical and logistics footprint in Hong Kong.
How property owners respond if footfall-driven valuations become less dominant in the city's retail market.