HCM City’s retail property market to see new trends
The property market in Ho Chi Minh City will see good prospects for all segments this year and the retail sector will see new trends, according to experts in the field.
HCM City (VNA) - The property market in Ho Chi Minh𝔍 City will see good prospects for all segments this year and the retail sector will see new trends, according to eꦿxperts in the field.
2016 is a key year for the retail market in HCM City, as domestic consumption increases and foreign retailers enter the market to take advantage of opportunities created by free trade deals, said Neil MacGregor, General Director of Savills Vietnam, the leading real estate service provider in the country .
A young population and rising middle class are two important factors that contribute to the retail market’s growth.
The emergence of a number of mid-sized shopping centres in the city’s new urban areas demonstrates the trend of satisfying the two groups’ demands.
According to Savills experts, retail development has been feverish as foreign and local developers compete in this rapidly changing environment. In 2015, the year-on-year growth in goods and services retail sales stood at 9.5 percent, one of the highest rates globally.
This year, the retail property market in HCM City will see a number of business premises as well as retail models, including Takashimaya in Saigon Centre building.
The retail market will see new trends that encourage customers to spend more, according to Henry Chin, Head of Research at CBRE Asia-Pacific.
He said the retail markets in HCM City and Hanoi added 150,000 square metres of space for rent last year. He added that the vacancy rate for commercial centres in HCM City is forecast to remain at 10 percent thanks to key clients.-VNA
The office occupancy rate in HCM City reached an average of 94 percent, according to a report on the HCM City and Hanoi office markets made in the third quarter by Savills Vietnam.
Improved macro-economic conditions and limited vacancies will make office rental costs in Ho Chi Minh City to head upwards while the prices in Hanoi remain steady, Savills Vietnam announced.
Vietnam's real estate market is expected to continue recovery this year after gaining good business results last year, with the market reaping benefits from favourable macro conditions, experts said.
Total apartment sales in Ho Chi Minh City reached nearly 7,700 units in the fourth quarter of 2015, up 47 percent quarterly, according to Savills Vietnam ’s Market Brief released on Jauary 29.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
The Sun Avenue project in HCM City (Photo: VNA)
