According to market research firm Savills Vietnam, 100,000 square meters of new retail space is expected to enter the market this year.
“Ho Chi Minh city, and Vietnam as a whole, continue to see dramatic increases in retail spending and as such retailers are keen to compete for the best locations in order to maximize their exposure,” Marc Townsend, managing director of CBRE was reported as saying.
“In Ho Chi Minh city, fashion, lifestyle and food and beverage retailers continue to dominate leasing activity with 46,250 quarter meters of retail new absorption in total.”
According to the Vietnam Business News, January-May retail sales in Ho Chi Minh increased 34 percent from the same period last year, with local consumption patterns indicating a strong interest in luxury brands and international franchises.
Source: Vietnam Business News
