Indochina Land has branded its latest Hanoi shopping centre as a “affordable social hub”, instead of luxury trading centre.
Richard Leech, executive director of CB Richard Ellis – the marketing and management agency for the Indochina Plaza Hanoi, which will be opened this weekend, said the IPH management team had taken the failure of other modern trading centres as a lesson.
“With the advantage of an ideal location of a very high population area, IPH is design to attract a very broad ranging of customers, from students to high income earners,” Leech said.
According to Leech, apart from the families living in Indochina Hanoi Plaza residential towers and the office tenants occupying the office space, there were also approximately 39,000 students on the door step.
In the face of fierce competition from existing and upcoming shopping centres in Hanoi, at a time when consumers are tightening their belts, IPH distinguishes itself by providing a combination of international standards in its sophisticated design and a professional tenant mix which provides customers with a unique shopping experience.
IPH is the latest shopping centre in Hanoi to offer customers a leisure and entertainment centres with an emphasis on a wide selection of food and beverage that will attract a steady stream of families and the young and the young-at-heart.
The centre now has an occupancy rate of around 77 per cent, while the rest is expected to be leased up to the end of this year.
IPH gathers many international and domestic brands, pulled from every category of fashion and accessories, perfumes and cosmetics, children’s clothing and toys, home wares and home décor, food and beverage, games and an entertainment centre.
Leech said IPH’s monthly rents were at the level of $20-$35 per square metre.
“IPH will change the way customers think of shopping centre’s. Not just a place to shop, but a place to eat, drink, socialize and gather with friends and family. IPH shopping center will break new ground in providing a flexible community space with multiple options to enhance lifestyles within a busy urban setting. IPH shopping centre is a peek at the future of retailing in Vietnam,” said Leech.
IPH shopping centre is part of a mixed-use development, which includes 390 condominiums and 14,000 square metres of office space.