Metro wholesale center opens in Hanoi

October 19, 2012 | 08:24

(0) user say

Metro Cash & Carry on Wednesday put into operation a new wholesale store in Hanoi City’s Ha Dong District, which is the third in Hanoi and the 19th of its chain in Vietnam.

Located in Melinh Plaza Ha Dong in the new administrative area of Ha Cau Ward, the 5,100-square-meter Metro wholesale store provides products for small and medium retailers, hotels, restaurants and businesses in Hanoi’s southwest area.

Like other Metro stores in Vietnam, this new store sells over 25,000 food and non-food products, mainly Vietnam-made ones.

Together with the opening of Metro store, the shopping and entertainment center Melinh Plaza Ha Dong was also put into service on Wednesday amid current difficulties of the retail space segment in Hanoi.

Having an investment of over VND500 billion, Melinh Plaza Ha Dong covering over 1.7 hectares consists of five floors and one basement with total floor space of over 54,000 square meters.

This shopping center features fashion products, electronic products, home appliances and furniture of several local and foreign brands.

Melinh Plaza Ha Dong comes into operation when the retail space segment in Hanoi is in difficulties. According to Savills Vietnam’s report, while the total retail supply was around 718,100 square meters in the third quarter, up 10% from the previous quarter, the average renting capacity dropped by five percentage points, with the capacity of shopping centers falling by up to nine percentage points.

In addition, the average rent also declines by 6% from the second quarter.

A recent report of CBRE Vietnam on Hanoi’s retail space, the vacancy rate has risen in areas inside and outside the city center as tenants have closed their stalls and consumers are still tightening their spending.

SGT

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional