By Diane Alter

Apple will open its first retail store in Hong Kong later this year.

The 15,000-square-foot store will be housed in the International Finance Center (IFC) Mall in the central district of Hong Kong. A second 20,000-square foot-store is planned for 2012 in the Hysan Place in Causeway Bay.

Apple signed a 10-year lease for the IFC Mall location, and will spend $20 million in construction. In addition, Apple will shell out $9.2 million a year in rent.

The IFC Mall is home to some 200 stores representing approximately 100 different international brands. About 7 million people call Hong Kong home, and the city hosts more than 32 million tourists a year.

Apple opened its first store in China in 2008 and now has four there--two in both Beijing and Shanghai. The stores have traffic of 40,000 visitors each day.

Apple, which currently has 323 retail stores worldwide, plans an additional 20 new stores in China this year. The Asian nation has been good to Apple. Apple revenue in China rose six-fold to about $3.8 billion in the three months ending June 25.


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