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Trade centers: some are happy, some are sad

The retail market in Vietnam has witnessed a lively year with many international brands entering Vietnam, brining joy to some trade centers, such as the EIO event worth US$740 million of Vincom Retail. However, there are still retail chain with gloomy business, or even has to resort selling themselves to other competitors as they cannot adapt in time with the new shopping style of consumers, or get defeated by fierce competition from new faces as well as rapidly-growing online retail. If major companies have struggle, then less-known investors also face hardship. Last year, according to CBRE Vietnam, there were some apartment apartments wanted to sell the commercial foundation block to more professional retailers. Other were more flexible when shook hands with retail tenants to share profits from monthly business results, instead of clinging on  the fixed hiring prices. “It is forecast that in three upcoming years, retail market will see increased competition due to a large volume of retail floor at foundation block of apartment projects launched for hire”, said Duong Thuy Dung, Senior Director of CBRE Vietnam