9 9 , ▁even ▁after ▁Bal est ier ▁Market ▁under w ent ▁renov ation , ▁it ▁ultimately ▁still ▁failed ▁to ▁comp ete ▁with ▁her ▁" ne igh bour ing ▁brother " ▁because ▁during ▁that ▁period ▁of ▁time , ▁most ▁of ▁the ▁resident ial ▁develop ments ▁were ▁situated ▁around ▁Wh am po a ▁Market . ▁Meanwhile , ▁Bal est ier ▁was ▁still ▁in ▁the ▁phase ▁of ▁re development ▁into ▁a ▁commercial , ▁industrial ▁and ▁private ▁resident ial ▁district , ▁resulting ▁in ▁existing ▁residents ▁re loc ating ▁elsewhere . ▁Furthermore , ▁after ▁the ▁upgrad ing , ▁a ▁hand ful ▁of ▁vend ors ▁decided ▁to ▁re loc ate ▁or ▁to ▁dis continue ▁their ▁business ▁resulting ▁in ▁pat rons ▁from ▁Bal est ier ▁Market ▁sh ifting ▁over ▁to ▁Wh am po a ▁Market ▁instead . ▁Con sequently , ▁the ▁business ▁of ▁remaining ▁ha w k ers ▁in ▁Bal est ier ▁Market ▁continued ▁to ▁d eter ior ate , ▁causing ▁many ▁st all ▁own ers ▁who ▁had ▁been ▁serving ▁for ▁dec ades ▁to ▁ce ase ▁their ▁operation ▁entirely ▁when ▁the ▁market ▁closed ▁for ▁re development ▁in ▁ 2 0 0 4 . ▁Due ▁to ▁its ▁historical ▁and ▁cultural ▁significance , ▁Bal est ier ▁Market ▁was ▁placed ▁under ▁the ▁Conserv ational ▁Act ▁by ▁the ▁Urban ▁R ede velop ment ▁Author ity ▁and ▁subsequently ▁plans ▁were ▁made ▁by ▁the ▁authority ▁to ▁further ▁modern ise ▁the ▁market . ▁After ▁the ▁closure , ▁Bal est ier ▁Market ▁was ▁bought ▁over ▁by ▁Ban quet ▁Hold ings ▁P te ▁Ltd ▁and ▁was ▁then ▁opened