New shopping malls are anticipated to enter the market, mainly on the city’s outskirt. Meanwhile, retailers and mall developers are reinventing themselves to provide a variety of entertainment and lifestyle activities.
In Q3 2019, retail spaces that had focused on building brand images and adopted good leasing strategies still posted strong performance with high occupancy rate, while other malls were struggling to retain customer.
The occupancy rate at operational industrial parks (IPs) nationwide hits nearly 75 percent, according to the Economic Zone Management Department under the Ministry of Planning and Investment.
Both markets showed positive figures across most criteria including rental value, growth rate, occupancy percentage and especially demand.
The Ho Chi Minh City office market had a strong start to the year, achieving new performance records, Savills reported. Vacancy is continuously falling, especially in the CBD, with all recent entries rapidly absorbed.