Keppel opens Hanoi Centre, its first retail mall in Vietnam's capital
Strong occupancy and over two million pre-opening visitors signal retailer confidence and could encourage further investment in experiential mixed-use retail developments in Hanoi.
Keppel opened the 41,000 sq m Hanoi Centre, its first Hanoi retail development, with more than 90% occupancy and nearly 200 brands.
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On July 2, Keppel officially opened Hanoi Centre, its first retail development in Hanoi, marking the group's nearly 40-year presence in Vietnam and its expansion beyond Ho Chi Minh City.
The 41,000 sq m (441,324 sq ft) shopping mall is managed and operated by Keppel's real estate division.
Hanoi Centre forms part of the mixed-use Tien Bo Plaza development at 175 Nguyen Thai Hoc Street in the heart of the Vietnamese capital. The project is jointly invested by Tien Bo Printing Single Member Limited Liability Company and TID Joint Stock Company.
The opening strengthens Keppel's retail presence in Vietnam, complementing its existing retail assets, including Saigon Centre and Estella Place in Ho Chi Minh City.
"As Keppel marks close to 40 years in Vietnam, the opening of Hanoi Centre reflects our continued confidence in the country's growth prospects and our commitment to creating quality urban spaces that contribute to its ongoing transformation," says Joseph Low, Keppel's chief representative in Vietnam and president of Vietnam Real Estate.
He adds that Hanoi Centre combines international brands, experiential retail offerings and carefully preserved heritage features to create "a vibrant gathering place for the local community and visitors alike", while contributing to the evolution of Hanoi's retail landscape.
Hanoi Centre has achieved more than 90% occupancy and houses nearly 200 fashion, beauty, lifestyle, dining and entertainment brands. Anchor tenants include Northern Vietnam's first adidas Brand Centre, Vietnam's first Bershka store, Hanoi's first Urban Revivo, as well as flagship stores from Pop Mart, Boss, Chanel and Zara.
International brands such as Uniqlo, Wilson, Jo Malone London and Coach are also expected to open.
According to Keppel, the mall had already welcomed more than two million shoppers before its official opening.
Located near major attractions including the Temple of Literature, the Ho Chi Minh Mausoleum and Hanoi's Old Quarter, Hanoi Centre also incorporates heritage elements into its design, preserving a 140-year-old banyan tree and the historic Mint House (Nha Tien), a former French Indochina-era coin mint.