Van Hanh Mall creates new momentum for modern retail market

Van Hanh Mall creates new momentum for modern retail market

Van Hanh Mall will welcome the launch of toy brand Pop Mart in Ho Chi Minh City in July, underscoring the appeal of local shopping malls in the race to lure international brands.

Pop Mart is not the first international name debuting at Van Hanh Mall. This shopping mall converges a number of major brands like CGV, Citigym, Co.op Xtra, Uniqlo, Adidas, and Phuong Nam Book City, with an occupancy rate of 100 per cent. This indicates the stable appeal of the mall and the professional and effective operation of the management team.

Pop Mart from China will launch its store on the third floor of Van Hanh Mall

Strategically located in District 10, Van Hanh Mall has quickly become the leading shopping and entertainment destination in Ho Chi Minh City.

General director of Bac Binh Construction Investment Co., Ltd. (the operator of Van Hanh Mall), Luong Quang Hien, said, “The occupancy rate of the shopping mall stands at 100 per cent with a diverse tenant mix from fashion to jewellery, cosmetics, food and beverages (F&B), banks, and financial institutions. International brands, such as Uniqlo, Charles & Keith, Starbucks, Swensen’s, Nike, and Levi’s, are testament to operational excellence and long-term brand retention capacity.

Sustainable operations are bolstered by the ability to maintain an average footfall of 30,000 visitors per day and 40,000 visitors on weekends and holidays, an impressive figure amid the growing diversity of shopping channels.

In 2024, KIDO Group completed the acquisition of 75.39 per cent of Hung Vuong Plaza, a longstanding shopping mall in Ho Chi Minh City. In 2025, Van Hanh Mall has been added to the group’s ecosystem. This opens up a new strategic direction: from a giant in the food sector, KIDO has ventured into the commercial real estate sector.

Tran Le Nguyen, CEO of KIDO, said, “The shift is part of the group’s strategy to restructure revenue sources. While the consumer food industry is subject to the cycle of the economy, commercial real estate is expected to generate steady and sustainable cash cashflows with efficient operation.”

The clearest evidence is the occupancy rate of Hung Vuong Plaza rising from over 90 per cent to nearly 100 per cent following KIDO’s acquisition, indicating the efficient operation and exploitation of the premises. There is a greater expectation for Van Hanh Mall due to its scale, tenant base, and prime location.

Vietnam’s real estate market is entering a vibrant phase with the aggressive expansion of retail giants like Takashimaya, Lotte, Central Retail, THACO/Emart, and Vincom Retai. Competition isn’t just about rental costs or spaces, but the ability to create a comprehensive experience for customers.

According to Savills, the modern shopping mall model continues to dominate tenant activity due to the blend of shopping, dining, and entertainment in a convenient setting. Among them, the most important factors are prime location, traffic connectivity, and flexible operational strategy. Shopping malls with a proper tenant mix catering to the demands youngsters and families will gain a major edge in retaining tenants.

The market has witnessed the rise of the integrated shopping mall model. This is a shopping destination and a centre for entertainment, dining, and community connection. Savills noted that the “all-in-one” model is the mainstay trend in major urban areas, especially when young consumers prioritise experiences over material possessions.

With a 2-km radius from many schools and densely populated residential areas, Van Hanh Mall is staying ahead of the trend by focusing on hosting events, renovating spaces, investing in digital media, and implementing themed promotional campaigns. There are dozens of small and large events that take place every month, attracting shoppers and visitors to check in and create social media content, thereby increasing coverage for the brands in the mall.

Another unique selling point is the management team’s flexible support for tenants’ marketing campaigns, from booth images to promotions, which facilitate shortening the capital payback period and increasing business efficiency.

In the eyes of international brands, Vietnam has a young population, rising income, and modern consumer behaviour, and the experiential shopping trend are the factors shaping the sustainable development of large-scale shopping malls.

Van Hanh Mall has quickly become the leading shopping and entertainment destination in Ho Chi Minh City, with an average footfall of 30,000 visitors per day and 40,000 visitors on weekends and holidays

This is indicated by the aggressive expansion strategy of multi-industry corporations in the commercial real estate sector. Among them, KIDO, which is closely associated with consumer food, is emerging as a new power in the shopping mall landscape.

According to experts, Vietnam’s shopping mall market is entering into a more sustainable development phase following overexpansion pre-pandemic. The competition is no longer about who can build the most shopping malls, but who can gain more insights into tenants and customers.

The integration of Van Hanh Mall into KIDO’s ecosystem is not merely an investment expansion, it sends a signal that domestic companies are ready to compete fairly with foreign names in the commercial real estate sector. With experience in operating Hung Vuong Plaza and Van Hanh Mall along with strong financial capabilities, KIDO has the potential to become Vietnam’s leading shopping mall developer and operator in the next five years.

The shopping mall operation is closely linked with the long-term tenant strategy. The management team at Van Hanh Mall is taking steps to restructure the tenant base by adding popular brands and increasing the proportion of food and beverage and entertainment services. This is coupled with brand support initiatives from image strategy to booth marketing and customer data sharing by segment.

With the plan to diversify the tenant base and embrace modern consumer models, KIDO is researching a slew of new projects in the downtown areas the group owns. These mega projects will follow the new-generation shopping mall model.

Van Hanh Mall is not only a successful shopping mall. Under the leadership of KIDO, the mall has become a perfect strategic piece for the group's expansion into the commercial real estate sector, a new playground full of potential and challenges.

VIR