The Savico Mega Mall project, the largest commercial venture in Vietnam, was introduced by CB Richard Ellis Vietnam and the Saigon General Service Corporation (Savico) in Hanoi on March 9.
The commercial centre will be situated in the Long Bien district covering an area of 63,000m2 with 30,000m2 for outdoor activities, parking and green areas.
According to Richard Leech, CBRE Vietnam’s Executive Director, the retail sector’s total revenue in Vietnam raised by 30 percent last year, while, the spaces for retail activity increased only slightly by 14 percent at 118.480m2.
In addition, some old commercial centres such as Vincom and Trang Tien Plaza are now being upgraded or repaired.
With the rapid development of urban areas and the huge demand for large commercial centres, they will soon become popular models for retailing in the future, Leech added.