|Le Khac Hiep|
However, success has not come to every project in this sector and Vincom Joint Stock Company chairman Le Khac Hiep said only prestigious and professional developers would win out.
Retail space has been deemed a tempting slice of pie for property investors. Could you share some of your experiences as a successful business in this segment?
Location is the core for success in the retail business. As that, our Vincom City Towers is situated in Ba Trieu street in the heart of Hanoi, while Vincom Centre enjoys a prime location in Ho Chi Minh City’s centre. Thanks to their favourable locations, convenient transport and dense populations, these two complexes are always filled with tenants.
Vincom Mega Mall, as part of the Royal City, which is under construction, also sits near the southwestern gateway into Hanoi’s centre. Though the project is slated for completion in 2013, it has seen 60 per cent of its retail, or 140,000 square metres, pre-leased out already.
In addition, all Vincom trading centres are sizable and carry mixed-use features, as we provide not only places for shopping, but also modern and appealing venues catering to the entertainment and relaxation needs of urban dwellers.
Many real estate projects under construction are associated with large-scale and mixed-use high-class retail centres, so what is the core advantage of Vincom Mega Mall?
In fact, mixed-use commercial centres are not a new model at all. However, our key advantage rests in sizable investments. Accordingly, most of the Vincom Mega Mall items currently hold Vietnam records, such as the first ice-skating rink, the first indoor water park, the largest and cutting-edge gymnasium, spa and game areas, three and four-dimensional cinema complexes and the like. These have all made Vincom Mega Mall appealing in the eyes of customers, though the project is slated for completion two years later.
In addition, Vincom is always elated with our prestige and quality management. A number of Vincom Mega Mall retail space tenants are our customers at the Vincom shopping centres in Hanoi and Ho Chi Minh City.
Has a rich customer base let Vincom stay confident in doing marketing job for the Royal City project instead of an outside agent?
With the booming development of Vietnam’s property market and a closer gap between demand and supply, only professional and prestigious investors can win. Having a rich pool of customers who are always up for image promotion in association with Vincom’s properties has proven our reputation among customers.
At Vincom Mega Mall, together with our loyal customers, we will also have many new ones. However, with a wealth of experience we believe we can take better care of our customers.