Vincom Retail opens new shopping malls in HCMC, Bac Giang province
Vincom Retail JSC, a subsidiary of private Vietnamese conglomerate Vingroup, opened shopping centers in Ho Chi Minh City and the northern province of Bac Giang on Saturday, bringing its total to 87.
Inside the Vincom Mega Mall Grand Park in Ho Chi Minh City. Photo courtesy of Giai Gon Giai Phong (Liberated Saigon) newspaper.
In HCMC, Vincom Mega Mall Grand Park covers more than 45,000 square meters at the Vinhomes Grand Park mega-urban area in Thu Duc city, including five floors and two basements.
Inspired by the "park-in-mall" style, the shopping mall features a green shopping, entertainment and culinary space.
There is a colorful "magic forest" in the lobby, while all floors have trees. The green also covers experiential spaces such as a CGV cinema in a "rainforest" style, Palm Coffee & Tea on the terrace, and Pizza 4P's in the Vietnamese garden house space.
Vincom Mega Mall Grand Park is home to nearly 200 stores and experiential spaces, from fashion and entertainment to cuisine. The fashion space houses well-known brands like Muji, Uniqlo and Nitori.
The City Games Plus area provides modern virtual reality games, while Kids Camp Plus is a place for children to practice physical fitness and play creative games. The culinary area features European and Asian dishes.
In Bac Giang province, which neighbors Hanoi, Vincom Plaza Bac Giang is located at the luxury apartment tower Vinhomes Sky Park. The mall borders major roads Ngo Gia Tu, Nguyen Van Man, Nguyen Thi Luu and Nguyen Gia Thieu, featuring a "futuristic" architectural style.
The center has changed Bac Ninh town's urban appearance. It brings together 50 brands such as Dookki, Long Wang and Pizza Home (cuisine); Vascara and Pierre Cardin (fashion); and Funny Kids, Games World and Go Pick (entertainment for kids).
In the past 30 days, Vincom Retail has launched four shopping malls, marking its presence in 47 provinces and cities across Vietnam with over 1.83 million square meters of floor space for rent.
Vincom Retail, the largest mall operator in Vietnam, reported a consolidated net profit of VND1.02 trillion ($40.3 million) in Q2/2024, up 2% year-on-year. This was the sixth consecutive quarter that its net profit had passed the VND1-trillion ($39.42 million) mark.
Q2 revenue went up 14% year-on-year to VND2.48 trillion ($97.92 million), the firm said in its consolidated quarterly financial statement.
Vincom Retail is listed on the Ho Chi Minh Stock Exchange as VRE, and closed Friday at VND19,300 ($0.76) per share.
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