{{Short description|Chinese property investment manager}} {{Use dmy dates|date=June 2025}} {{Chinese | title = Liu Weihong | s = 刘伟宏 | t = 劉偉宏 | p = Liú Wèihóng | w = Liu Wei-hung | order = st }} '''Liu Weihong''', also known as '''Ruby Liu''', is a Chinese property investment manager and owner of three shopping malls and a golf course in British Columbia, Canada. {{as of|2025|6}}, she was in the process of acquiring the leases for 28 permanently closed Hudson's Bay Company stores in order to set up her own department store chain.<ref name=fp1/><ref name="tl1" /><ref name="np1">{{cite news |last=Deschamps |first=Tara |date=2025-05-01 |title=Can a B.C. developer's big bet on Hudson's Bay stores redefine Canadian retail? |url=https://nationalpost.com/news/canada/hudsons-bay-b-c-developer-canadian-retail |access-date=2025-05-04 |work=National Post}}</ref>
Liu moved to Canada from China in 2014. Liu became a permanent resident of Canada in 2017. She was reported in 2025 to be a billionaire.<ref name="fp1">{{cite news |last=Louis |first=Serah |date=27 May 2025 |title=Who is Weihong Liu, the B.C. billionaire who is buying 28 Hudson's Bay leases? |url=https://financialpost.com/news/retail-marketing/who-is-weihong-liu-the-b-c-billionaire-who-is-buying-28-hudsons-bay-leases |access-date=2025-05-04 |work=Financial Post}}</ref>
==Company== Ruby Liu Commercial Investment Corporation (RLCIC), a company based in Richmond, British Columbia according to official paperwork,<ref name="tm1">{{cite news |url=https://www.trademarkia.ca/en/trademark-detail/ruby-liu-design-2401131 |title=RUBY LIU & DESIGN Trademark of RUBY LIU COMMERCIAL INVESTMENT CORP. | Trademarkia Canada |work=TradeMarkia |date=2025-05-25 }}</ref> has a subsidiary called Central Walk, a real estate investment firm based in Nanaimo.<ref name=fp1/><ref name="TheStar-2025-04-05">{{cite news |url=https://www.thestar.com/business/a-once-in-300-years-opportunity-billionaire-mall-owner-weihong-liu-says-she-plans-to/article_ab83e475-7de7-4264-b098-f81bbb12a98d.html |title=Billionaire mall owner Weihong Liu says she plans to bid on Hudson’s Bay |newspaper=Toronto Star |date=2025-04-05 |quote=[Liu's three shopping centres are] owned and operated by the Nanaimo, B.C.-based Central Walk}}</ref> {{as of|2025}}, Ruby Liu was the chairwoman of Central Walk; Linda Qin was its chief executive officer.<ref name="G&M-2025-06-23">{{cite news |url=https://www.theglobeandmail.com/business/article-court-approves-hbc-name-change-leases/ |title=Court approves Hudson’s Bay name change, sale of three leases to B.C. mall owner |newspaper=The Globe and Mail |date=2025-06-23 |url-access=subscription |quote=Ms. Liu, the chairwoman of Nanaimo, B.C.-based real estate investment company Central Walk … Central Walk chief executive officer Linda Qin }}</ref>
As of May 2025, Liu owned three shopping malls<ref name=fp1/><ref name="tl1">{{cite news |url=https://torontolife.com/city/a-billionaire-from-china-now-owns-28-hudsons-bay-leases-but-what-about-the-toronto-flagship/ |title=A billionaire from China now owns 28 Hudson's Bay leases. But what about the Toronto flagship? |publisher=Toronto Life |date=27 May 2025}}</ref> as well as Arbutus Ridge Golf Course.<ref name="np1">{{cite news |last=Deschamps |first=Tara |date=2025-05-01 |title=Can a B.C. developer's big bet on Hudson's Bay stores redefine Canadian retail? |url=https://nationalpost.com/news/canada/hudsons-bay-b-c-developer-canadian-retail |access-date=2025-05-04 |work=National Post}}</ref> According to its website, Central Walk also owned a number of assets in Southeast Asia.<ref name="gm3">{{cite news |url=https://www.theglobeandmail.com/business/article-hudsons-bay-finds-buyer-for-up-to-28-store-leases/ |title=Hudson's Bay finds buyer for up to 28 store leases |work=The Globe and Mail |date=23 May 2025 }}</ref>
==Shopping centres== Central Walk has three shopping centres all in British Columbia. {| class="wikitable" |+Shopping centres owned by Central Walk<ref name="fp1" /> ! Centre !! Location !! Year<br>acquired !! Property value !! Square<br>footage |- | Mayfair Shopping Centre | Victoria | 2021 | $242.57 million | 518,748<ref name="CW-Mayfair">{{cite web |url=https://centralwalk.com/mayfair-centre/ |title=Mayfair Centre |publisher=Central Walk |accessdate=2025-06-27 }}</ref> |- | Tsawwassen Mills | Delta | 2022 | $407 million | 1.2 million<ref name="CW-Tsawwassen">{{cite web |url=https://centralwalk.com/tsawwassen-mills/ |title=Tsawwassen Mills |publisher=Central Walk |accessdate=2025-06-27 }}</ref> |- | Woodgrove Centre | Nanaimo | 2020 | $230 million | 775,000<ref name="WI-2025-04-10" /> |}
In 2019, Liu sold the Central Walk Shopping Mall in Shenzhen to Hong Kong's Link Real Estate Investment Trust for more than $1 billion.<ref name=fp1/><ref name=tl1/>
Liu had paid $858 million for all three of her British Columbia shopping centres, which she had purchased from Ivanhoé Cambridge Inc., a division of Caisse de dépôt et placement du Québec.<ref name=fp1/> In April 2025, Central Walk listed Woodgrove Centre, Vancouver Island's largest shopping mall, for sale.<ref name="WI-2025-04-10">{{cite web |url=https://www.westerninvestor.com/british-columbia/woodgrove-centre-for-sale-after-billionaire-owner-announced-intention-to-buy-hudsons-bay-stores-10503386 |title=Woodgrove Centre for sale after billionaire owner announced intention to buy Hudson's Bay stores |publisher=Western Investor |date=2025-04-10 }}</ref>
==Department stores== {{also|Hudson's Bay Company#Liquidation and closure of department stores}} In early 2025, the Hudson's Bay Company announced it would be permanently closing all its department stores across Canada, liquidating their contents and auctioning off their commercial leases at various shopping malls.<ref name="cre1">{{cite news |url=https://www.connectcre.ca/stories/liu-plans-to-launch-new-chain-overhaul-hudsons-bay-company-store-model/ |title=Liu Plans to Launch New Chain, Overhaul Hudson's Bay Company Store Model |date=27 May 2025 |work=ConnectCanada}}</ref> At the end of April 2025, Ruby Liu placed to bid, along with a deposit, for the leases of 28 HBC stores<ref name="biv1">{{cite news |url=https://www.biv.com/biv-rss-newsletter/bc-billionaire-reportedly-puts-down-10-deposit-in-bid-for-hbc-assets-10623392 |title=B.C. Billionaire reportedly puts down 10% deposit in bid for HBC assets |date=6 May 2025 |work=BIV }}</ref><ref name="fn1">{{cite news |url=https://ca.fashionnetwork.com/news/Hudson-s-bay-to-sell-28-leases-to-ruby-liu-for-new-department-store-concept,1734192.html |title=Hudson's Bay to sell 28 leases to Ruby Liu for new department store concept |work=Fashion Network |date=May 26, 2025}}</ref> located in British Columbia, Alberta, and Ontario in order to launch a new department store chain in these locations.<ref name="ri1">{{cite news |url=https://retail-insider.com/retail-insider/2025/05/ruby-liu-to-launch-new-department-store-chain-in-canada/ |title=Ruby Liu to Launch New Department Store Chain in Canada |work=Retail Insider |date=23 May 2025}}</ref> The bid included at least one former Saks Off 5th store owned by HBC.<ref name="TheStar-2025-06-26" />
Liu would use her name, Ruby Liu, to brand her stores, along with a ruby-shaped graphic. She would offer apparel, jewelry and makeup, and provide entertainment and dining facilities, areas for cosplay and children's play spaces, if permitted by the purchased store lease agreement. She hoped to have 20 of the stores operating within 180 days of acquiring the leases. She estimates she would need 2,500 to 3,000 employees to open, and was in contact with former Bay employees including store managers.<ref name="TheStar-2025-06-25">{{cite news |url=https://www.thestar.com/business/b-c-mall-owner-lays-out-plan-for-bay-leases-landlords-are-unconvinced/article_b278a3ef-3d78-545f-bb6c-7a83015376ff.html |title=B.C. mall owner lays out plan for Bay leases. Landlords are unconvinced |newspaper=Toronto Star |date=2025-06-25 }}</ref>
By 23 May 2025, Liu became the successful bidder for 28 Hudson's Bay store leases, pending either landlord or court approval.<ref name="TheStar-2025-05-23">{{cite news |url=https://www.thestar.com/business/billionaire-b-c-mall-owner-weihong-liu-signs-deal-to-buy-28-hudson-s-bay/article_2c94cdf1-5968-4f25-8b85-34c4978713dd.html |title=Billionaire B.C. mall owner Weihong Liu signs deal to buy 28 Hudson's Bay Store leases |newspaper=Toronto Star |date=2025-05-23 }}</ref> However, landlords for 23 of the leases objected to the Liu bids as they felt Liu had an insufficient business plan, insufficient financing for store maintenance and a lack of experience in retail store operations as opposed to shopping centre management.<ref name="G&M-2025-06-20">{{cite news |url=https://www.theglobeandmail.com/business/article-hudsons-bay-former-landlords-oppose-ruby-liu-stores/ |title=Landlords for 23 former Hudson’s Bay locations oppose plans for Ruby Liu department stores |newspaper=The Globe and Mail |date=2025-06-20 |url-access=subscription}}</ref> On 23 June, the court approved Liu's acquisition of 3 leases where Liu's company was the landlord.<ref name="TheStar-2025-06-23">{{cite news |url=https://www.thestar.com/business/court-approves-sale-of-three-hudsons-bay-leases-to-billionaire-mall-owner-weihong-liu/article_11c745de-2d90-4716-ad71-fc94749063dc.html |title=Court approves sale of three Hudson’s Bay leases to billionaire mall owner Weihong Liu |newspaper=Toronto Star |date=2025-06-23 }}</ref> By 26 June, Liu took possession of one of the smallest stores she made a bid on, a former Saks Off 5th store at Tsawwassen Mills.<ref name="TheStar-2025-06-26">{{cite news |url=https://www.thestar.com/news/canada/british-columbia/b-c-billionaire-ruby-liu-gets-keys-to-first-retail-store-once-owned-by-the/article_84a99562-c476-5dd4-8305-497937d3209d.html |title=B.C. billionaire Ruby Liu gets keys to first retail store once owned by The Bay |newspaper=Toronto Star |date=2025-06-26 }}</ref> On 24 October, the court sided with landlords and rejected Liu's bid to acquire the 23 disputed store leases.<ref name="TheStar-2025-10-24">{{cite news |url=https://www.thestar.com/business/court-rejects-b-c-billionaire-weihong-liu-s-bid-to-take-over-hudson-s-bay/article_8ac66612-e984-4025-bbb9-5474c2e34f93.html |title=Court rejects B.C. billionaire Weihong Liu’s bid to take over Hudson’s Bay leases |newspaper=Toronto Star |date=2025-10-24 }}</ref>
==References== {{reflist}}
Category:Chinese businesspeople L Category:Businesspeople from Nanaimo Category:Canadian businesspeople in the real estate industry Category:Canadian businesspeople in finance Category:Canadian people of Chinese descent Category:Year of birth missing (living people) Category:Living people
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