CBRE event hears animated retail real estate market in Hanoi and Ho Chi Minh City compares favorably with other regional cities. In terms of the number of retail projects and square meters in the pipeline, Hanoi and Ho Chi Minh City stack up well against their regional neighbors, with Hanoi in 7th position, Mr. Richard Leech, Executive Director of CBRE Vietnam, told the Retail Real Estate Market Update 2015 event, which discussed the latest trends in and outlook for the retail real estate market from the perspective of occupiers, developers and investors and was held on October 8. Most of the other cities ahead of Hanoi are in China, including the two leaders, Beijing and Shenzhen. Ho Chi Minh City, meanwhile, is expecting at least five new projects in 2015. Vietnamese development compared with other Asia-Pacific cities, 2015 “Vietnam’s retail market has never appeared more attractive to foreign retailers and foreign retail developers, given the country’s young population, rising disposable income and quickly expanding middle class,” Mr. Leech said. “Strong demographics coupled with a growing macro-economy and new infrastructure developments have caught the attention of some of the region’s largest retail giants, who now compete fiercely with emerging domestic players.”…
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