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The Vista An Phú is a high-end mixed-use development located at 628C Ha Noi Highway, An Phu Ward, Thu Duc City, Ho Chi Minh City, in the prime Thao Dien-An Phu residential area. Developed by CapitaLand Singapore and completed in 2011, it occupies 2.54 hectares and includes 750 luxury apartments in five 28-storey towers overlooking the Saigon River, 100 serviced apartments under Somerset Vista, over 4,200 square meters of premium office space, and approximately 8,500 square meters of commercial area featuring the Vista Walk retail podium across three floors.
The tenant mix emphasizes convenience-oriented retail with a supermarket, dining outlets, medical clinic, and kindergarten, alongside F&B and service tenants to serve daily needs of residents and nearby workers. Positioned as a neighborhood shopping center in HCMC's dynamic retail landscape, which had 266 malls nationwide in 2023, it targets affluent locals and expatriates in a market with growing middle-class consumption and low retail space per capita compared to Southeast Asia.
Leasing advantages include integrated residential footfall for steady traffic, diverse mix reducing vacancy risks, and average HCMC retail rents of USD 53.36 per sqm per month in Q2 2025 per Cushman & Wakefield reports.
Accessibility via proximity to An Phu Metro station on Line 1 enhances potential, though competition from larger venues like Vincom Mega Mall 5 minutes away and aging 14-year-old infrastructure present challenges.
Operational quality benefits from CapitaLand management, but market saturation in premium segments and economic fluctuations could impact performance.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographic Profile
The Vista An Phú serves a high-income demographic in Thao Dien-An Phu, blending affluent Vietnamese professionals and expatriates, many in finance, tech, and international firms. Nearby international schools like British International School and International School Ho Chi Minh City attract families with disposable incomes exceeding average HCMC levels. Market insights from JLL indicate HCMC's District 2 has a population density supporting premium retail, with expatriate ratio around 10-15% higher than city average, driving demand for upscale F&B and lifestyle services. However, reliance on this niche limits broader appeal, and shifts in expat mobility due to global events pose risks to sustained footfall.
Competition and Market Position
In HCMC's retail market, The Vista An Phú competes with nearby giants like Vincom Mega Mall Thao Dien and Parkson, which offer broader tenant mixes and higher footfall from regional draw. As a community-focused center with ~8,500 sqm NLA, it holds a niche in convenience retail amid Vietnam's 27 million projected middle-class additions by 2030 per Oxford Economics. Occupancy data is unavailable, but prime HCMC malls average 90-95% per Cushman & Wakefield Q2 2025, suggesting stability if managed well. Weaknesses include smaller scale versus mega-malls, potential category overlaps in F&B, and market saturation with 266 malls nationwide, risking dilution of traffic in premium areas.
Accessibility and Lease Terms
The Vista An Phú benefits from strong accessibility: 5 minutes to District 1 via Saigon or Thu Thiem bridges/tunnels, and walking distance to An Phu Metro station on Line 1, operational since 2024 delays. Road access via Ha Noi Highway supports vehicle traffic, though congestion in District 2 is common. Lease terms in HCMC prime retail average USD 53/sqm/month, with escalations tied to inflation; Vista's integrated setup may offer favorable base rents for anchor tenants like supermarkets. Operational challenges include 2011 infrastructure potentially needing upgrades for modern standards, and competition from e-commerce growth eroding physical retail, per Statista reports showing 22% mall visit frequency quarterly in 2022.
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Ho Chi Minh City
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City Snapshot
Ho Chi Minh City
Comprehensive market intelligence for retail expansion in this city
