Retail space rent is growing steadily in the centre but those underneath residential properties in outlying areas face long-term vacancy, said real estate services firm Jones Lang LaSalle (JLL) on Friday.
Recognising the threat online retail channels, owners of shopping centres will have to explore the use of retail space for non-conventional uses, particularly education, flexible workspaces and fitness clubs, according to Jones Lang LaSalle Incorporated (JLL).
Retail space is expected be abundant this year in Ha Noi with a total of 157,000 sq.m coming from eight projects under development, according to the CBRE’s Real Estate Market Outlook in Viet Nam.