Retail centre constructions on wing
05-SEP-2008 Intellasia | VTCnews
Sep 5, 2008 - 7:00:00 AM
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At Vietnam's retail market conference held recently by HCM City Real Estate Association, Richard Leech, managing director of CBRE Vietnam Co spoke that the investments in building retail centres would bring in a huge profit while the supply of retail market is too small as compared with the demand.
This showed that in HCM City-the strongest local economy, only 150,000 square metres of floor area in 15 trade centres and shopping malls were leased.
The space renting price in areas ouside trade centres averages at US$40 a square metre a month while that in just centres climbs to US$250 a square metres a month.
According to statistics provided by CBRE Vietnam, from now to the end of 2008, HCM City's supply of only 19,000 square metres from small trade centres to the retailing field will come operation.
As forecasted, HCM City's retail centre supplies in next two or three-years will be 350,000 square metres only.
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