Vientiane Centre eyes more office tenants
Vientiane Centre eyes more office tenants
The Vientiane Centre, a high-profile shopping centre in Vientiane, hopes that the number of tenants renting commercial offices will gradually increase due to the rapid growth of the investment environment in Laos.
The offices for r ent are located at the back of the shopping centre on Khouvieng Road and the company aims to house many well-known and mega investment companies.
In a coup for the centre, the Laos-China Railway Company signed a three-year contract for office rental with the Vientiane Centre yesterday, witnessed by officials from both sides.
“Vientiane Centre's offices for rent are intended to be a centre for m ega investment companies in Laos because the Laos-China Railway Company is the first to sign a rental contract with us,” said the Vientiane Shopping Centre General Manager Mr Li Xiaodong at the signing ceremony.
He said that more well-known foreign companies will be placed at the offices but initially, they must be selected before renting the offices.
The Vientiane Centre has a total of eight floors and so far four floors have been rented by several companies, with more expected to sign up this year.
When asked about the number of shoppers visiting the centre, Mr Li said there had been an increase, both in Lao and foreign visitors. They see about 3,000 people a day or about 10,000 visitors a month, he said. Despite the fact that the number of shopping malls in Vientiane is mushrooming, investors are still looking at the possibility of taking market shares in commercial buildings for office rentals.
The shopping centre is a jointly developed three-phase project by the Yunnan Construction Engineering Group Company Limited and Krittaphong Group Company Limited.
They have a concession period of 50 years and the option to extend for a further 20 years.
The Vientiane Centre is one part of the three-phase project, which is being developed on a 5.3 hectare site on Nongchan marsh in Xaysettha district.
