Vientiane shopping mall confident about retailing
The Vientiane Centre has now sold 90 percent of its shop rental space since the modern mall opened its doors last year.
The sale of shop space in the centre was a vote of confidence in shopping mall investment in the capital, according to the mall's management.
Vientiane Centre General Manager Mr Li Xiaodong said the mall was experiencing increasing numbers of both Lao and foreign shoppers with about 100,000 visitors a month drawn to the selection of international brands available there.
“Floor space in the mall has been mainly rented out by Lao, Chinese, and Korean businesses selling popular international brands. Only 10 percent of the space is left,” Mr Li said.
A recent boom in shopping mall construction has seen ITECC Mall, View Mall, and the Vientiane Centre open to the public while the Lasavong Plaza and Sky City projects are under construction.
Mr Li Xiaodong said the mall was negotiating with a Thai investor to open an entertainment venue on the fourth floor with karaoke and bowling, and expected it would attract even more shoppers in the years ahead.
The mall is trying to improve customer service in response to the growing number of retail competitors setting up shop in the capital.
The Vientiane 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 mall is one part of a three-phase project being developed on a 5.3 hectare site on Nongchan marsh in Xaysettha district.
The shopping mall features a supermarket, world famous brands in cosmetics, watches, fashion, jewellery, electronics, home appliances and furniture as well as restaurants and a multi-screen cinema.