VivoCity Saigon opened its door Sunday (April 19) making it the second international shopping mall brand to enter Vietnam, behind Japan’s Aeon.
SC VivoCity is a joint venture between Singapore-based Mapletree Investments and local supermarket operator Saigon Co-op. Mapletree will manage the centre, its fifth internationally to carry the brand; the other three are in China.
The centre is located on Nguyen Van Linh Boulevard in Ho Chi Minh City’s District 7, a suburb popular with Asian expats including Koreans and Singaporeans, and a stone’s-throw from the Royal Melbourne Institute of Technology campus. It is very close to the Crescent Mall development which has struggle to attract customers since its opening more than three years ago.
Mapletree and Saigon Co-op say SC VivoCity Saigon embraces the popular features of the Singapore VivoCity, which in 2011 was voted one of the Top 10 shopping destinations in the world.
“With Mapletree’s expertise in developing large-scale projects and commercial complexes throughout Asia, as well as Saigon Co-op’s experience in retail and real estate investment in Vietnam, this partnership is expected to bolster commercial activities in the city, at the same time as offering consumers new services and international retail standards,” the two companies said in a statement.
“With its modern architecture, impressive and striking design, SC VivoCity is sure to become a momentous part of the city skyline, while housing famous trademarks, offering the most popular food brands along with year-round festivals and events that will draw repeated visits from both local residents and foreign visitors.”
With a total area of 41,000 sqm, the five-storey mall offers fashion, entertainment and lifestyle tenancies, a hypermarket, an education centre, and food and beverage outlets. Tenants include McDonald’s (the company’s third restaurant in Ho Chi Minh City), CGV cinemas (from Korea’s CJ Group) and a Harley-Davidson Black Label store.
“SC VivoCity aims to create a vibrant, multi-experience destination which will constantly surprise visitors with its mix of unique, ever-evolving and refreshing, new-to-market retail and lifestyle brands and concepts,” the two companies said.
SC VivoCity is the first phase development of Saigon South Place, a 4.4 ha integrated mixed-use project which will also house Grade-A office buildings and internationally operated serviced apartments.
* Republished with permission of Insideretail.Asia