Business

Vincom to build chain of trading centres

The property developer Vincom was expected to develop 10 trading centres nationwide during the next five years, said the company's chairman Le Khac Hiep.
The property developer Vincom was expected to develop 10 tradingcentres nationwide during the next five years, said the company'schairman Le Khac Hiep.

Thanks to a large youthful population and rapid urbanisation, the retailmarket was developing strongly, said Hiep, adding that in 2010, Vietnamranked fourth out of the 30 most attractive countries for retailers,with consumption rising to 30 percent a year.

However, there werenot enough commercial and entertainment centres to meet rising demand,which had encouraged Vincom's recent move, Hiep said.

"The 10trading centres will cover a total of 1 million square metresnationwide, especially in the big cities of Hanoi and HCM City," hesaid.

Vincom will divide the projects into two groups, withprojects that have a total area under 100,000 sq.m named Vincom Centreswhile those with areas larger than 100,000sq.m will be named Vincom MegaMalls. As a result, the Vincom City Towers Hanoi have been renamed asVincom Centre Hanoi.

Hiep said the new Long Bien Vincom Centre will open this December and feature a shopping complex and entertainment zones./.
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