Ho Chi Minh City retail supply grows to almost 1.5m sqm in Q3

Over 60% of the retail spaces are in non-central areas.

According to a report from Avison Young, in Q3 2024, HCMC welcomed an additional shopping mall in September with the opening of Parc Mall in District 8. This is the first major shopping mall in District 8, spanning 55,000 sqm. 

“A key attraction of the mall is the presence of the AEON department store and supermarket, catering to the diverse shopping needs of the local population. Furthermore, after receiving visitors since early June, Vincom Mega Mall Grand Park officially launched in July, offering a wide range of shopping amenities,” the report said.

Here’s more from Avison Young:

With the addition of these two new projects, the city's total retail supply has risen to nearly 1.5 million sqm, with over 60% of retail space located in non-central areas. Shopping malls dominate the retail market, accounting for approximately 75%. Due to limited land in central areas, future projects will mainly emerge from outlying districts such as Thu Duc City, District 8, District 5, and Go Vap District. 

By the end of 2024, District 8 is expected to welcome its second major shopping mall, the Central Premium Mall project, with a scale of nearly 40,000 sqm. The project is currently in its final stages of completion.