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Palace IFC Cinema Faces Closure Amid Declining Revenue

2/13/2026

Summary

Story summary

Hong Kong's IFC Mall may lose its Palace IFC cinema as Sun Hung Kai Properties (SHKP) explores new tenants for the 20,000 sq ft space, with the lease expiring at the end of 2023.
SHKP is considering options due to declining cinema foot traffic, which has prompted a search for overseas tenants.
The cinema sector in Hong Kong experienced a 16% drop in box office revenue in 2025, the lowest level in 13 years.
Palace IFC, operated by Edko Films, has five screens and 544 seats.

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Story summary

Hong Kong's IFC Mall may lose its Palace IFC cinema as Sun Hung Kai Properties (SHKP) explores new tenants for the 20,000 sq ft space, with the lease expiring at the end of 2023.
SHKP is considering options due to declining cinema foot traffic, which has prompted a search for overseas tenants.
The cinema sector in Hong Kong experienced a 16% drop in box office revenue in 2025, the lowest level in 13 years.
Palace IFC, operated by Edko Films, has five screens and 544 seats.