Crescent Mall will pioneer changes across the retail landscape of Ho Chi Minh City and Vietnam
Retail sales in Vietnam will stay on the rise in coming years as GDP increases and as a result retail formats are evolving to meet the demand of an increasingly affluent population.
As Ho Chi Minh City decentralises, the traditional shopping area District 1 is no longer the sole bastion for shopping malls in the southern hub. The latest indicator of this trend is the $110 million-Crescent Mall, developed by Phu My Hung Corporation, one of Vietnam’s leading developers, and located in Phu My Hung, District 7.
Frances Ba, a permanent member of Phu My Hung Corporation’s board of directors, said, “The Crescent complex design was inspired by the shape of Ru Yi gem, a symbol of good luck and fortune. We hope that this will be a promised land where all your dreams and expectations will come true. Crescent Mall will be the head, which is the most important part of the Ru Yi gem.”
As the façade of the 45,000sqm retail development nears completion, the public will soon get their first glimpse of the unique face of Crescent Mall. Surrounding panels reflect sunlight to transmit a golden hue, completely transforming the look and feel of the mall.
According to Savills Vietnam’s director of agency, Rupert Provest, “One of the core values of Crescent Mall is quality. Every aspect of the development including design, materials, and construction is of the highest quality, and we have also applied this principle to the tenancy mix. Whilst there has been incredible interest in this mall, we have been meticulous in selecting retail brands ensuring they share this core value.”
The basement of Crescent Mall will accommodate the first Giant superstore format in Vietnam, owned by Dairy Farm Group, a leading pan-Asian retailer that operates over 5,000 retail outlets in the region. A wide range of food and beverage retailers have committed to the mall including Gloria Jeans Coffees, The Coffee Bean & Tea Leaf, MOF, and MK Hotpot. “We also have a very strong fashion offer with fashion brands to date including GAP, Diesel, Tommy Hilfiger, Niketown, Esprit, Blue Exchange, Axara, NafNaf, and many more,” added Provest.
Crescent Mall is undoubtedly set to be the ultimate retail destination in Ho Chi Minh City. To find out more please contact James Austen at Savills Vietnam on 09 3700 6645 or log onto www.the-crescent.com.