Sep 20th, 2015
Mall has seen strong foot traffic and rising occupancy since soft opening
HO CHI MINH CITY, 20 September 2015 – SC VivoCity, among the most modern shopping and lifestyle destinations in Ho Chi Minh City (HCMC), officially opens today with a ceremony graced by the President of Vietnam, Mr Truong Tan Sang.
SC VivoCity has drawn strong footfall since it began operations on 19 April 2015. On average, it sees over 700,000 visitors per month. Foot traffic is expected to increase further as more retailers, many of which are international brands setting up their first shops in Vietnam, open at the property.
To-date, shops taking up 84 per cent of SC VivoCity’s net lettable area (“NLA”) of 41,000 square metres (“sqm”) have opened, and close to 90 per cent of NLA has been committed. The mall has a gross floor area (“GFA”) of 62,000 sqm.
SC VivoCity is jointly developed by Saigon Co.op Investment Development Joint Stock Company (“SCID”) and Mapletree Investments Pte Ltd (“Mapletree”). SCID is an affiliate of top Vietnam retailer Saigon Co.op, and Mapletree is a leading real estate development, investment and capital management company headquartered in Singapore.
The mall is the first phase of Saigon South Place, a 4.4-ha integrated mixed-use development project located in District 7, Tan Phong Ward, along Nguyen Van Linh Boulevard. This is a district with a large number of multinational corporations, a strong community of middle class Vietnamese residents as well as expatriates, and amenities such as international schools. When completed, Saigon South Place will also comprise Grade-A office and serviced apartment buildings.
Ms Nguyen Thi Tranh, Chief Executive Officer of SCID, said: “SC VivoCity marks a significant milestone in the diversification strategy of the modern retail business of Saigon Co.op and SCID. We are delighted to be able to partner with our respected partner, Mapletree Investments Pte Ltd, in this iconic mall project.
“This partnership has proven to be a perfect combination of the strengths, experience and expertise of both SCID and Mapletree, which has made SC VivoCity a successful international retail and lifestyle destination mall in Ho Chi Minh City today.”
Ms Wendy Koh, Mapletree’s Regional Chief Executive Officer of South East Asia, said: “The high shopper traffic and support from retailers mark a strong start to our development of Saigon South Place. The recovery and continued liberalisation of Vietnam’s economy, such as the relaxation of rules for foreign businesses to set up operations in the country and the lowering of trade barriers and corporate tax rates, will continue to draw foreign firms to set up operations in Ho Chi Minh City, Vietnam’s vibrant business hub.”
“We believe that the office and serviced apartment components of Saigon South Place are poised to benefit from this. Already, the liberalisation policies have drawn the interest of international retailers that are new to Vietnam, and many are marking their entry into the country by opening at SC VivoCity.”
Prominent new-to-market brands
The wide array of international retailers at SC VivoCity includes brands that are new to Vietnam such as Miss Selfridge, Dorothy Perkins and the Harley–Davidson Black Label Collection – the label’s first store in Asia.
Other new-to-market, highly established international and Singapore retailers that bring the latest fashion, entertainment and food trends to the country include:
Hamleys (Opening soon)
Penshoppe (Opening soon)
Xiao Ban Café
International retailers popular with the HCMC and Vietnam populace that have set up shop at SC VivoCity include McDonald’s with its first mall-located outlet in Vietnam; British high street retailer Topshop and Topman, which opens its second shop in HCMC; as well as:
Wall Street English
Popular Local Retailers
A big attraction of SC VivoCity is also the large number of local companies that have brought popular brands to the mall. They include Phuong Nam Bookstore, and food & beverage (“F&B”) names such as:
Golden Jade (Chinese cuisine)
Vuvuzela (Beer club)
Wrap & Roll (Vietnamese cuisine)
Phuc Long (Café)
Comprehensive Lifestyle Experience
SC VivoCity is equipped with a myriad of leisure and retail options to provide a multi-experiential shopping, dining and entertainment experience for everyone – from families to singles; the young and the old.
Among its standout features is the open air wet and dry playground. The first such park for children in Vietnam, it is situated at the roof deck and is equipped with water spray guns, water cannons and water fountains.
For those who prefer indoor children’s play, head to Korean soft play centre Apple Kids Club.
Avid movie goers can enjoy a unique, life-like cinematic experience at SC VivoCity, which boasts Vietnam’s first IMAX theatre. Brought in by South Korean group CGV Cinemas and accompanied by a screen that is among the largest in the world, as well as a powerful sound system, this is one 3D experience that movie buffs would not want to miss.
Gaming and bowling fanatics can head to Nụ Cuoi Vui Game Center, while fitness enthusiasts can work up a sweat at California Fitness & Yoga Center, which has set up a dynamic lifestyle centre that promises to offer more than just a typical gymnasium experience.
Meeting the everyday needs of shoppers is CO.OPXtra, a hypermarket set up by Saigon Co.op and Singapore’s NTUC FairPrice that supplies a wide array of products, including imported luxury items from Singapore, South Korea, Japan, America, Europe, Australia, and New Zealand.
Rounding up the SC VivoCity experience are over 39 F&B options, as well as a wide range of retail, fashion, education and entertainment choices. In total, the mall has over 150 retail establishments over five storeys to meet the needs of every visitor.
When completed, Saigon South Place will consist of SC VivoCity, three office towers, and two blocks of serviced apartments – bringing to life the live, work, play integrated concept envisioned for the development.
Mapletree has begun work on the second phase of Saigon South Place, which comprises Mapletree Business Centre, a 17-storey office tower that will boast international Grade-A specifications and is targeted to complete in 2016.
Ms. Nguyen Pham Khanh Van
Senior Marcom Manager
Vietsin Commercial Complex Development JSC
Tel: (848) 3776 0941 (Ext. 134)
Mob: +84 903 658546
About SC VivoCity
SC VivoCity is a one-stop family-lifestyle destination for both the local and expatriate communities in Ho Chi Minh City. Located along Nguyen Van Linh Boulevard in Ho Chi Minh’s District 7, the five-storey mall offers the latest fashion, a hypermarket, a Cineplex as well as a mix of lifestyle, entertainment, education, and dining outlets.
SC VivoCity is jointly developed by Saigon Co.op Investment Development Joint Stock Company (“SCID”) and Mapletree Investments Pte Ltd (“Mapletree”). It forms part of the 4.4-ha Saigon South Place, which when completed will also comprise modern Grade-A office blocks and serviced apartments operated by an established international operator.
For more information, please visit scvivocity.com.vn.
About Saigon Co.op Investment Development (SCID))
Saigon Co.op Investment Development Joint Stock Company (SCID) is an affiliate of Saigon Co.op, Vietnam’s Top Retailer and among the top 500 retailers in Asia Pacific, an accolade it has held for many years.
With chartered capital of VND1,000 million in which Saigon Co.op takes an 85% share, SCID has a primary mandate to develop the Co.opMart supermarket chain and other forms of commercial real estate such as mixed-use complexes, office towers, serviced apartments and department stores.
As at June 2014, SCID has invested in and transferred 70 Co.op Mart supermarkets to Saigon Co.op. Ten large scale projects are being deployed, with 50% of these projects located in Ho Chi Minh City.
By 2015, SCID will invest in and operate 100 supermarkets, hypermarkets and shopping malls in the Vietnam, as well as develop other forms of commercial real estate. It plans to expand its footprint across Asia in the near future.
For more information, please visit www.scid-jsc.com.
Mapletree is a leading real estate development, investment and capital management company headquartered in Singapore. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths as a developer, an investor and a capital manager, the Group has established a track record of award-winning projects in Singapore and delivers consistent and high returns across various real estate classes in Asia.
To date, Mapletree owns and manages close to S$30 billion of office, logistics, industrial, residential, corporate lodging/serviced apartment and retail properties. It currently manages four Singapore-listed real estate investment trusts (REITs) and six private equity real estate funds, which together hold a diverse portfolio of assets in Singapore and Asia. The Group has also established an extensive network of offices in Singapore, China, Hong Kong SAR, India, Japan, Malaysia, South Korea and Vietnam, and is stepping up its global presence by entering markets such as Australia, Europe and the US. Mapletree’s property portfolio includes award-winning projects in Singapore such as VivoCity, Mapletree Business City, and Tata Communications Exchange, as well as mixed-use developments in the region such as Future City and Nanhai Business City in China.
In Vietnam, Mapletree currently owns and manages three logistics parks located in Binh Duong and Bac Ninh; industrial and business park development Mapletree Business City @ Binh Duong; and Pacific Place, a mixed-use development in Hanoi. Mapletree also owns CentrePoint, an office building with a retail podium in Ho Chi Minh City.
For more information, please visit www.mapletree.com.sg