MARKET SNAPSHOTS WEEK 24/2024
Vincom Mega Mall Grand Park opened to welcome guests in June
Vincom Mega Mall Grand Park shopping center welcomes guests from June 1, expected to officially open on July 20 with a series of shopping and entertainment facilities. Vincom Mega Mall Grand Park is located in the Vinhomes Grand Park urban area (Thu Duc City), with a total area of up to 50,000 sqm including 5 floors and 2 basement for parking floors. This is one of 6 shopping centers in the Vincom Mega Mall system and the first location in the East of Ho Chi Minh City. This is also the largest commercial center built on the "Park-in-mall" theme in the South, enhancing the green experience by bringing nature in through a series of amenities. The commercial center brings together more than 120 famous brands in all diverse fields of fashion, jewelry, dining and entertainment such as Uniqlo, MUJI, ACFC Fashion, Levi's, Bath & Body Works, Decathlon, Nitori, Pizza 4P's, Marukame Udon, Dooki Dooki, Chilli Thai, Coco Ichibanya , CGV, Gigo Entertainment...
American technology giant Motorola Solutions opened an R&D center in southern Vietnam
On June 4, 2024, US technology company Motorola Solutions opened a new research and development center in Ho Chi Minh City to advance data analytics and AI-enabled technologies that help promote the company's safety and security ecosystem. The Vietnam team is focused on designing and building solutions that can significantly improve public safety outcomes by connecting people to important information and focusing their attention on where it is needed most. This includes cutting-edge software that leverages AI to create advanced camera systems, sensors and vehicle detection technology powered by command centers to improve decision-making and accelerate response urgent. The opening also marks Motorola Solutions' continued investment in diverse, multicultural engineering talent across the Asia Pacific region, with additional locations including Penang, Bangalore and Kolkata.
Opening of Wink Hotel Can Tho
On June 4, 2024, Wink Hotel Can Tho officially opened, marking an important milestone in the development process of Can Tho city, contributing to making the city a leading tourist destination of the Mekong Delta region and Southern Vietnam. Wink Hotel is located at 14 Phan Dinh Phung, Tan An Ward, Ninh Kieu District, Can Tho City. The project started construction in September 2022 with a height of 19 floors and a total floor area of 12,700 square meters. Possessing a total of 238 rooms with a variety of room types, including 214 hotel rooms and 24 luxury suites. Room categories include Deluxe/Premier Queen rooms, Deluxe/Premier Twin rooms, Signature Wink Family rooms, and one-bedroom Junior Suite rooms. The ground floor of the hotel is Wink Space - a vibrant, attractive community area with impressive artwork and high ceilings. Before Wink Hotel Can Tho, 4 other Wink hotels were put into operation, including Wink Hotel Saigon Center, Wink Hotel Danang Center, Wink Hotel Danang Riverside and Wink Hotel Tuy Hoa Beach. Looking ahead, Wink Hotels will continue to expand with the sixth hotel, Wink Hotel Hai Phong, expected to open in 2025.
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Tien Giang is about to have another 470-hectare industrial park project
According to the Government E-Portal, Deputy Prime Minister Le Minh Khai has just signed Decision No. 471/QD-TTg on investment policy for construction investment projects and infrastructure business in Tan Phuoc 1 industrial park, Tien Giang province, the investor is IDICO Tien Giang Joint Stock Company. The project has an investment capital of 5,936.5 billion VND, scale of 470 hectares. Operational term of the project: 50 years from the date the project is approved for investment policy and accepts investors. Project implementation progress: No more than 60 months from the date the land is handed over by the State. IDICO Tien Giang Joint Stock Company coordinates with the Management Board of Tien Giang Industrial Zones and relevant agencies to carry out compensation, support and resettlement in accordance with the provisions of land law, avoid loss of assets, state budget, avoid disputes and complicated lawsuit ...
The commercial center at Vinhomes Ocean Park 2 is 70,000 sqm wide
Many fashion brands setting up official stores in Vietnam have heated up the commercial real estate market. Along with that is the plan to expand the store network of many transnational retail corporations. The occupancy rate of the entire market in Hanoi reached 89%, prices also increased 13.9% compared to last year in non-central areas, according to CBRE's retail market report for the first 3 months of 2024. To meet the increasing demand for retail space, Vinhomes completed the Vincom Mega Mall commercial center at Vinhomes Ocean Park 2. The commercial center was built on 3 floors including 160 booths on an area of nearly 70,000 m2. From ring road 3.5 and the adjacent Hanoi - Hai Phong highway, along with VinBus electric bus routes, customers in neighboring areas such as Hanoi, Hai Phong, Quang Ninh can also easily move to this commercial center. Similar to world-famous commercial centers, typically Central Plaza (Thailand), Vincom Mega Mall at Vinhomes Ocean Park 2 is also built according to a complex model, integrating many functions in one destination. Accordingly, in the same complex as the shopping center, there is also a conference - wedding center and a 10,000-seat theater.
The area is about to be invested 2,500 billion VND to pave the way, right near Vinhomes Royal City
The Ring Road 2.5 project from Nguyen Trai Street (National Highway 6) to Dam Hong has its starting point 500 m from Vinhomes Royal City urban area. The project is 1.6 km long; Expected investment of more than 2,500 billion VND from the budget capital of Hanoi city. The project belongs to 4 wards: Thuong Dinh, Ha Dinh, Khuong Dinh, Khuong Trung. Vinhomes Royal City residents will benefit when the route comes into use. It helps shorten the distance to Hoang Mai and Thanh Tri instead of having to go around Truong Chinh and Giai Phong as currently. In addition, the investment project to build Ring Road 2.5 from Nguyen Trai (National Highway 6) to Dam Hong will contribute to completing and smoothing Ring Road 2.5, ensuring the synchronization of the urban road transportation system. Thereby solving regional traffic congestion, promoting urbanization in Thanh Xuan district in particular and Hanoi city in general.