Island shopping courts tenants

The retail village on Hon Tre Island will have 100 shops and kiosks of varying sizes ranging from 24 to 160 square metres with total retail area of 6,000sqm. Initial monthly rental rates are set at $10 to $20 per square metre.
By constructing the retail area, management of the VinPearl Resort and Spa are trying to make shopping easily accessible for its guests, in contrast to other resorts where guests would have to visit other towns or areas to buy souvenirs or luxury goods. The area has been designed to supply luxury goods for resort visitors, targeting tenants in fashion, cosmetics, jewelry, accessories, traditional products, holiday souvenirs and convenience products for guests.
The retail village will be designed in a traditional image of a Hoi An street, one of the unique and long-term features of the complex that developers hope will attract the interest of many tourists.
Early tenants will enjoy low rent and a choice of locations as well as great opportunities to advertise their brands to both local and international organisations and to the rising number of tourists.
“This retail area will be a strong addition to the resort enabling international visitors to enjoy the resort as well as being able to take advantage of the wonderful products that will be offered,” said Richard Leech, retail service director at CB Richard Ellis, the marketing agent for the village.
The company is planning to bring an assortment of new retailers to Nha Trang, a shopping, relaxing and entertainment haven for tourists, businessmen, business and conference groups and local and international organisations. Tourism is a key driver of retail success and with a growing population and increasing disposable income, the future for retailing in Nha Trang generally, and on Vinpearl particularly looks very promising, said Leech.
The three main target groups include local, regional and international tourists with high potential for retail consumption. The rapid tourism growth in Nha Trang is up to 900,000 tourists last year, nearly equivalent to Khanh Hoa province’s population. The village is part of a fully integrated entertainment and tourism complex Hon Tre Tourist and Trade Company is building on the island. The first phase includes Sofitel Vinpearl Resort and Spa with 500 rooms, the country’s largest beach resort.
Sofitel Vinpearl general manager Michael Brabsche said the complex would open a convention centre of 1,500 seats, an amphitheatre with 5,000 seats and the longest sea-cross cable car line by the end of this year.
Other facilities include eight cinemas, an amusement area for various ages, a water world, a spa area and a virtual world. The third phase will boast an 18-hole golf course, another resort and a four-star hotel of 200 rooms.






No. 766/June 19-25, 2006