Ruby Liu
| Liu Weihong | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Simplified Chinese | 刘伟宏 | ||||||||
| Traditional Chinese | 劉偉宏 | ||||||||
| |||||||||
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 June 2025[update], 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.[1][2][3]
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.[1]
Company
[edit]Ruby Liu Commercial Investment Corporation (RLCIC), a company based in Richmond, British Columbia according to official paperwork,[4] has a subsidiary called Central Walk, a real estate investment firm based in Nanaimo.[1][5] As of 2025[update], Ruby Liu was the chairwoman Of Central Walk; Linda Qin was its chief executive officer.[6]
As of May 2025, Liu owned three shopping malls[1][2] as well as Arbutus Ridge Golf Course.[3] According to its website, Central Walk also owned a number of assets in Southeast Asia.[7]
Shopping centres
[edit]Central Walk has three shopping centres all in British Columbia.
| Centre | Location | Year acquired |
Property value | Square footage |
|---|---|---|---|---|
| Mayfair Shopping Centre | Victoria | 2021 | $242.57 million | 518,748[8] |
| Tsawwassen Mills | Delta | 2022 | $407 million | 1.2 million[9] |
| Woodgrove Centre | Nanaimo | 2020 | $230 million | 775,000[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.[1][2]
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.[1] In April 2025, Central Walk listed Woodgrove Centre, Vancouver Island's largest shopping mall, for sale.[10]
Department stores
[edit]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.[11] At the end of April 2025, Ruby Liu placed to bid, along with a deposit, for the leases of 28 HBC stores[12] [13] located in British Columbia, Alberta, and Ontario in order to launch a new department store chain in these locations.[14] The bid included at least one former Saks Off 5th store owned by HBC.[15]
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.[16]
By 23 May 2025, Liu became the successful bidder for 28 Hudson's Bay store leases, pending either landlord or court approval.[17] 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.[18] On 23 June, the court approved Liu's acquisition of 3 leases where Liu's company was the landlord.[19] 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.[15]
References
[edit]- ^ a b c d e f g Louis, Serah (27 May 2025). "Who is Weihong Liu, the B.C. billionaire who is buying 28 Hudson's Bay leases?". Financial Post. Retrieved 4 May 2025.
- ^ a b c "A billionaire from China now owns 28 Hudson's Bay leases. But what about the Toronto flagship?". Toronto Life. 27 May 2025.
- ^ a b Deschamps, Tara (1 May 2025). "Can a B.C. developer's big bet on Hudson's Bay stores redefine Canadian retail?". National Post. Retrieved 4 May 2025.
- ^ "RUBY LIU & DESIGN Trademark of RUBY LIU COMMERCIAL INVESTMENT CORP. | Trademarkia Canada". TradeMarkia. 25 May 2025.
- ^ "Billionaire mall owner Weihong Liu says she plans to bid on Hudson's Bay". Toronto Star. 5 April 2025.
[Liu's three shopping centres are] owned and operated by the Nanaimo, B.C.-based Central Walk
- ^ "Court approves Hudson's Bay name change, sale of three leases to B.C. mall owner". The Globe and Mail. 23 June 2025.
Ms. Liu, the chairwoman of Nanaimo, B.C.-based real estate investment company Central Walk … Central Walk chief executive officer Linda Qin
- ^ "Hudson's Bay finds buyer for up to 28 store leases". The Globe and Mail. 23 May 2025.
- ^ "Mayfair Centre". Central Walk. Retrieved 27 June 2025.
- ^ "Tsawwassen Mills". Central Walk. Retrieved 27 June 2025.
- ^ a b "Woodgrove Centre for sale after billionaire owner announced intention to buy Hudson's Bay stores". Western Investor. 10 April 2025.
- ^ "Liu Plans to Launch New Chain, Overhaul Hudson's Bay Company Store Model". ConnectCanada. 27 May 2025.
- ^ "B.C. Billionaire reportedly puts down 10% deposit in bid for HBC assets". BIV. 6 May 2025.
- ^ "Hudson's Bay to sell 28 leases to Ruby Liu for new department store concept". Fashion Network. 26 May 2025.
- ^ "Ruby Liu to Launch New Department Store Chain in Canada". Retail Insider. 23 May 2025.
- ^ a b "B.C. billionaire Ruby Liu gets keys to first retail store once owned by The Bay". Toronto Star. 26 June 2025.
- ^ "B.C. mall owner lays out plan for Bay leases. Landlords are unconvinced". Toronto Star. 25 June 2025.
- ^ "Billionaire B.C. mall owner Weihong Liu signs deal to buy 28 Hudson's Bay Store leases". Toronto Star. 23 May 2025.
- ^ "Landlords for 23 former Hudson's Bay locations oppose plans for Ruby Liu department stores". The Globe and Mail. 20 June 2025.
- ^ "Court approves sale of three Hudson's Bay leases to billionaire mall owner Weihong Liu". Toronto Star. 23 June 2025.
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