Vincom Retail transfers ownership of Vincom Centre Nguyen Chi Thanh

The transaction is part of Vincom Retail's strategy to optimise operational efficiency and focus resources on key retail centres with high development potential.

Following the completion of the transaction, Vincom NCT will no longer be a subsidiary of Vincom Retail. The transferee is an independent legal entity with no ownership relationship with Vingroup or its member companies.

Vincom Centre Nguyen Chi Thanh, which opened in November 2015, spans ​​55,400 square metres and is located on Nguyen Chi Thanh street, a bustling arterial road linking central Hanoi with the city's western urban areas.

The complex consists of six above-ground floors and four underground levels, following the “one destination for all needs” model, and offering a wide range of products and services from retail and dining to entertainment and wellness.

During the ongoing renovation phase, customer benefits will remain unaffected. The mall will continue normal operations in non-renovated areas, including the supermarket, food court, cinema, and other utility services. Customers in the vicinity can also enjoy nearby alternatives such as Vincom Centre Metropolis, Vincom Centre Tran Duy Hung, Vincom Centre Pham Ngoc Thach, and Vincom Mega Mall Royal City.

Vincom Retail currently leads Vietnam's retail real estate market, operating a network of nearly 90 Vincom shopping centres across 31 of the country's 34 cities and provinces.

Most recently, the company inaugurated Vincom Mega Mall Ocean City in eastern Hanoi (nearly 70,000 sq.m) and Vincom Mega Mall Royal Island in Haiphong (over 55,000 sq.m). Moving forward, Vincom Retail will continue pursuing a sustainable growth strategy, optimising its investment portfolio while enhancing shopping, entertainment, and dining experiences for consumers nationwide.

Vincom Retail recorded its highest ever revenue in 2023, and signed a pivotal M&A deal in March 2024 that reshaped its ownership structure and set the stage for future growth.

Savills Hanoi's market brief for the first half of 2024 was released on July 11 and shows that major shopping centers in the capital are witnessing an increase in available leasing space.

Shophouse sales will continue to be a key driver of revenue growth for Vincom Retail JSC (VRE) for the remainder of 2024, according to a VNDirect Securities report from September 23.

Vincom Retail was the only enterprise in the retail real estate sector to make its way onto the list of Forbes Vietnam's top 25 leading brands in December.