The retail market in Hanoi has recovered and returned to the growth trajectory of the pre-pandemic period. The occupancy rate of the whole market reached 89%, with the total accumulated supply of shopping malls, department stores, and commercial podiums reached 1,25 million sqm. The average rental price of was US$39 /sqm/month, up 1,09% compared to the previous quarter and the same period last year.
According to Cushman & Wakefield, 75% of future retail space will be allocated in the west and central fringes. Some notable projects are Hinode City in Hai Ba Trung district (20,762 sqm), Lancaster Luminaire in Dong Da district (5,631 sqm), The Zei in Nam Tu Liem district (9,000 sqm), Lotte Mall Hanoi in Tay Ho district (72,000 sqm), AEON Mall Giap Bat Hoang Mai district (84,000 sqm) and BRG Park Residence Thanh Xuan district (13,945 sqm).
