Lotte Shopping currently operates three department stores and 16 supermarkets in Vietnam, alongside one department store and 48 supermarkets in Indonesia. The company highlighted the success of its flagship Lotte Mall West Lake Hanoi, which opened in 2023, describing it as a model for future premium complexes. Kim said the group intends to replicate this concept in other major Vietnamese cities.
The Ho Chi Minh City commercial property market has returned to its growth trajectory from before the COVID-19 pandemic thanks to the retail and services sector as well as increasing number of foreign visitors to the city, experts said.
The AEON Group has announced that it would contribute 25 billion VND (around 1.08 million USD) to Vietnam’s COVID-19 vaccine fund, joining hands with the Vietnamese Government to push back the pandemic.
The need for commercial space in Quarter 1 slightly increased as compared to the previous quarter as exchanges of goods rose during the traditional Lunar New Year (Tet) holiday and international brands continued to expand their networks in Vietnam, according to the Ministry of Construction.
Experts have forecast a tough time ahead for the domestic retail, with many store owners struggling to pay rent after being hit hard by the COVID-19 pandemic.
Sixty-four shopping malls across Jakarta will reopen in early June after having been closed since April because of large-scale social restrictions, reported the Jakarta Post.
Black Friday, the biggest retail promotion of the year, is ubiquitous in Ho Chi Minh City with most shopping centres and stores offering discounts of up to 90 percent.
Western area was the major supplier of condominium projects in the capital city of Hanoi, accounting for 77 percent of the total new units in the second quarter, said CBRE Vietnam, a provider of commercial real estate services, at a meeting in Hanoi on October 9.
Authorities in Hanoi have announced a plan to charge vehicles in downtown areas to increase the use of public transport, according to a decision signed by Chairman of the Hanoi People's Committee Nguyen Duc Chung recently.
The authorities of Ho Chi Minh City and Tay Ninh province are building shopping malls and service facilities along the HCM City – Moc Bai Highway to raise revenue for construction of the highway.
Property experts have urged Ho Chi Minh City to issue a special policy on new urban residential complexes to prevent the rampant and unsustainable development of residential projects.
Ho Chi Minh City’s Department of Planning and Architecture and Spain's Idom Ingenieria Consultoria S.A. plan to work together to open more pedestrian streets and shopping malls in district 1.
The retail sales and service revenue in Ho Chi Minh City reached more than 94.91 trillion VND (4.07 billion USD) in April, up 2.3 percent from the previous month.
