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Retail space hits 1,5 million square meters

According to CBRE Vietnam, the supply of retail premise is increasing in two markets: Hanoi and Ho Chi Minh City and will continue rising in 2015. Specifically, Hanoi will have 900.000 square meters of retail premise while the number in Ho Chi Minh City is 600.000 square meters. CBRE's report also revealed that the retail premise of Hanoi is not only abundant but also has soft price. The Executive Director at CBRE Vietnam, Richard Leech said that Metro 1 is underway will link shopping centers in HCMC with the central area of district 02. When Tax Plaza (district 01) and the stage 2 of The One, Saigon Centre  are finished,  a shopping center equal to Sukhumvit Road in Bangkok or Orchard Road in Singapore is expected by shoppers in HCMC. He also said that cuisine is taking lead in dominating 'unique' retail locations. He added that competition to lure consumers is a fierce battle at present. Shopping centers should be invested more in learning about demand of customers, offering more entertainment areas and enhancing cooperation with retailers.

 

Source: BDS