Ho Chi Minh City retail occupancy rate rises to 81% in Q3

Thanks to Parc Mall in District 8 reaching 100% occupancy.

Retail rental prices in HCMC this quarter remained stable according to an Avison Young report, ranging from 45-300 USD/sqm/month in central areas and 20-117 USD/sqm/month in non-central areas. 

The occupancy rate in central areas saw little change compared to the previous quarter, maintaining at 96%. 

Here’s more from Avison Young:

However, noncentral areas recorded a 5% increase from the previous quarter, reaching 81%, mainly due to the launch of Parc Mall in District 8, which successfully attracted many major brands and achieved a 100% occupancy rate. 

Currently, shopping malls in central HCMC are becoming prime destinations for renowned brands, thanks to their strategic locations and the increasing appeal to a growing number of potential customers. Notably, the luxury fashion brand Longchamp has chosen Saigon Centre to open its first official store in HCMC. 

In addition, the famous natural cosmetics brand Lush and the popular toy brand Popmart have also opened their second stores at Saigon Centre following the success of their first store. The competition among brands for space in these prime central areas is fierce, leading to the rapid filling of malls with well-known branded stores.