Hanoi 3rd in JLL's City Momentum Index The Asia-Pacific is home to 19 of the top 20 cities on the sixth City Momentum Index published by JLL, highlighting the continuing shift of fast urban growth from the West to the East. Overall, Indian and Chinese cities dominate the rankings, accounting for three quarters of the top 20. Leading the pack are Bengaluru and Hyderabad in India, with Hanoi third. “Asia continues to show strong momentum, with cities that are successfully expanding their innovation economy punching above their weight in terms of attracting capital, companies, and people,” said Mr. Jeremy Kelly, Director of Global Research at JLL. “It’s clear that the tech sector is a key driver of both real estate and economic momentum - driven by large technology firms as well as dynamic startups in cities like Bengaluru, Hyderabad, Ho Chi Minh City and Shenzhen.” Although the global economic cycle is in its late stages, there are still many cities in the … [Read more...] about BUSINESS NEWS IN BRIEF 19/1
5 points west shopping center
BUSINESS NEWS IN BRIEF 21/12
Vietnam, New Zealand networking event discusses CPTPP The Vietnam Trade Office partnered with the Wellington Chamber of Commerce and the ASEAN-New Zealand Business Council to run the Vietnam-New Zealand Free Trade Breakfast last week, discussing various trade issues. The event gathered representatives from enterprises in Wellington and Auckland doing business in or have business transactions with Vietnam together with local trade promotion agencies. It provided an opportunity to network and hear directly from key figures in Vietnam and New Zealand to gain a better understanding of the benefits of the two countries’ trade relations, particularly as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is about to enter into force. Speaking at the event, Vietnamese Ambassador to New Zealand Ta Van Thong gave the attendees an overview of Vietnam’s economy, its CPTPP commitments relating to the domestic business environment, and support … [Read more...] about BUSINESS NEWS IN BRIEF 21/12
Hanoi & HCMC retail market both rising
Cushman & Wakefield Vietnam has released its latest report on Vietnam's retail market for the third quarter of 2018. HCMC: Market performance improves marginally Two new retail outlets were completed in the third quarter and one retail outlet converted its retail space into office space for lease while another closed. Retail stock was recorded at more than 1.26 million sq m, up 2.2 per cent quarter-on-quarter and 6.6 per cent year-on-year. The overall occupancy rate grew 1 percentage point (ppt) quarter-on-quarter and 4 ppts year-on-year to 93 per cent. This is viewed as a moderate improvement. New entrants accounted for over 90 per cent of total absorption in the quarter. New supply drives up rent Market-wide average rent in the third quarter of 2018 climbed 5.6 per cent quarter-on-quarter and 7.4 per cent year-on-year, to approximately $54.5 sq m per month, due to high rentals quoted by new retail outlets. “Tenancy mixes in shopping malls are still focused on … [Read more...] about Hanoi & HCMC retail market both rising
Hanoi retail market sees slightly increasing rent in Q3/2018: C&W
The Hanoitimes - Currently, the city sees retail inventory of 1.07 million sq.m with shopping center takes the lead (968,400 sq.m), followed by retail podium (86,700 sq.m), and department store (18,000 sq.m). Average asking rent in Hanoi’s retail market in the third quarter (Q3) this year was US$38.8 per square meter per month (/sq.m/m), increasing modestly by 2.4% on-quarter and 0.8% on-year, mainly driven by a higher exchange rate and higher rental rates at projects with improved performances, Cushman & Wakefield (C&W) Vietnam said. A trade center in Hanoi. Photo: Internet Retail space in central business districts (CBDs) was priced at more than double the average rent of the Secondary and three to four times of those in the West and Suburban submarkets, C&M’s latest report showed. Department store was priced at US$70/sq.m/m, compared to US$38.7/sq.m/m in shopping center submarket, and US$33.5/sq.m/m in retail podium. Market … [Read more...] about Hanoi retail market sees slightly increasing rent in Q3/2018: C&W