Large retail formats to dominate HCM City’s retail market Large retail formats will dominate the retail property market in HCM City, especially destination and lifestyle malls in township projects, market researchers have predicted. Looking forward to 2030, CBRE said many street shops in the Central Business District (CBD) will be styled up as appearance will become an important factor to attract shoppers. The Thủ Thiêm new urban area will become a new entertainment and shopping hub for Việt Nam by that time, it said. CBRE noted that the HCM City retail market is shifting gradually from small-scale shopping malls to destination malls which focus on millennials and provide millennials with experience-based shopping. These malls require the presence of anchor tenants who are usually large and draw a high level of foot traffic. Anchor tenants in HCM City’s most popular shopping malls have traditionally been confined to cinemas and supermarkets but now fashion stores are a new type of anchor tenant that has taken over 1,000sq.m of Net Leased Area (NLA), such as Zara, H&M and Uniqlo as the latest examples. “Usually, anchor tenants in the fashion category are well-known international brands and are very sought after by young people, and… Read full this story
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