The Trang Tien Plaza is facing another round of renovation, just 16 months after it reopened its doors in April 2013, Dien Dan Doanh Nghiep newspaper has reported.
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| Trang Tien Plaza has been a commercial symbol of the capital city over the past 100 years. It expects to attract high-end customers, especially international tourists, with its luxury brands. |
Up to 70 per cent of the retailers have said they would continue to operate in the mall after the new round of renovation; 25 per cent have agreed to have their their booth's area reduced; and only 5 per cent have said that they would stop operations, the report said.
The newspaper quoted Johnathan Hanh Nguyen, chairman of IPP Group which is an investor-cum-operator of the Trang Tien Plaza, as saying that after the latest changes, the shopping mall would continue to run well with a higher rental revenue.
The Trang Tien Plaza has been a commercial symbol of the capital city over the past 100 years. The shopping mall reopened its doors in 2013 after a long renovation process. It expected to attract high-end customers, especially international tourists, with its luxury brands.
In the long term, the luxury brands will still gain a foothold in Vietnam, particularly because the country's middle-class is growing fast, Hanh Nguyen told the newspaper.
The Trans-Pacific Partnership (TPP) negotiations between Vietnam and the participating nations would facilitate the influx of renowned brands to Vietnam in the years to come.