Hong Kong’s Peak Tram is a fixture in the memories of many residents and tourists, ferrying passengers up Victoria Peak for a bird’s-eye view of the city’s many skyscrapers.
Enthusiasts and others have been rushing for one last ride before the Peak Tram closes for renovations. The tram will stop service on Monday for a six-month makeover, in part to reduce waiting times for the growing crowds.
Cedric Yu, who said he hadn’t ridden the tram for years, called it a collective memory for Hong Kong people and part of the city’s history. “Taking the Peak Tram just now reminds me of my childhood memories,” he added.
The Peak Tram started operations in 1888, when Hong Kong was a British colony, to transport people up Victoria Peak instead of using sedan chairs. The original carriages were made of varnished timber and seated 30 passengers in three classes.
Since then, the tram has undergone several makeovers. The current fifth-generation Peak Tram, with a burgundy exterior and varnished wood interiors, began running in 1989 and carries 120 passengers.
“The Peak Tram … has evolved and transformed itself from an essential mode of transport to a very popular tourist attraction in Hong Kong,” said May Tsang, general manager of Hong Kong Peak Tramways.
The company is investing over 700 million Hong Kong dollars ($90 million) to upgrade the system, the tram cars and renovate the terminus, she said.
Longer trams cars will boost capacity from 120 passengers to 210.
For Alan Cheung, a former president of the Hong Kong Collectors Society and a Peak Tram enthusiast, the makeover is welcome.
“Anything that can survive for over 100 years – that is not easy,” he said. “They must keep this treasure.”
Read more from Aya Iskandarani
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
More coverage from the Future Forum
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed