Luxury shops located in Hanoi's up-market shopping centres are closing due to slow sales.
Consumers have tightened spending, causing strong losses to luxury shops and commercial buildings. Luxury commercial buildings in Hanoi such as Grand Plaza, Parkson or Pico Mall are almost empty.
Despite the prime location and modern interior, the Grand Plaza has failed in attracting renters and customers.
Four stores end their lease at the same time
Empty stores in Pico Mall
Many closed stores Grand Plaza
Empty store used as storage
Commercial buildings lack customers