McDonald's is set to sell eight prime retail properties in Hong Kong, valued at approximately HK$1.2bn ($152.89m), according to JLL, the appointed sole agent for the sale, reported Reuters.

Despite the sale, the McDonald's outlets at these locations will continue their operations, as confirmed by JLL's executive director of capital markets, Eunice Tang.

In a statement, the fast-food giant highlighted its ongoing review of its property portfolio, which has led to the decision to offer the Hong Kong sites for sale.

McDonald's reassured its commitment to the Hong Kong market amidst this strategic assessment.

Earlier reports from the Hong Kong Economic Times indicated that McDonald's had plans to divest all of its 23 retail spaces in Hong Kong in phases. The properties are valued at nearly HK$3bn in total.

The company aims to maintain its operations at these locations as a tenant, ensuring no disruption to its services in the city. Currently, McDonald's operates approximately 256 restaurants in Hong Kong, with many in rented spaces.

The divestment follows a significant transaction in 2017, where McDonald's sold an 80% stake in its mainland China and Hong Kong businesses to a consortium including CITIC and Carlyle Group for up to $2.1bn. However, the properties in question remain under McDonald's ownership.

Interested investors have until 16 September 2025, to participate in the public tender for the sale of these eight properties.

The properties, secured with long-term leases to McDonald's, are available for individual or portfolio purchase.

The move comes at a time when prime street rents in Hong Kong have dropped to levels last seen in 2003, reflecting changes in consumer habits and a challenging environment for retailers leading to numerous store closures.