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Vincom Plaza Da Nang, situated at 910A Ngô Quyền in central Da Nang, Vietnam, covers 30,000 square meters of gross leasable area across 4 levels and hosts 150 retail stores since its 2015 opening. Managed by Vincom Retail JSC, part of a 88-mall network, it holds a prominent position in Da Nang's expanding retail landscape, where GRDP grew 6.47% in the first nine months of 2024 and the services sector advanced 6.96%.
Tenant mix balances international apparel like H&M and Levi's, quick-service dining such as Jollibee, essentials via WinMart supermarket, entertainment with CGV Cinema and VinKE zones, alongside electronics and home goods for diverse appeal. Occupancy reaches 95% with 5% vacancy, supported by tenant upgrades; average rent is 12 USD per square meter monthly with fixed escalations, while annual sales hit 5,000 USD per square meter.
Daily footfall averages 4,166 visitors, yielding 2.5 million annually, with 90-minute dwell times and 25% conversion rates, projecting 5% yearly growth. Primary catchment of 1.2 million within 5 km features median age 32, household income 25 million VND monthly, and per capita retail spend of 2,529 USD.
Leasing advantages encompass stable co-tenancy from anchors, promotional campaigns boosting traffic, loyalty programs at 30% penetration, and opportunities in experiential retail amid Vietnam's market growth to 209.19 billion USD by 2030 at 5.13% CAGR. Drawbacks include e-commerce rivalry, seasonal tourism variability, infrastructure constraints causing congestion, and saturation in fashion/food categories limiting premium positioning.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 09:30 AM — 10:00 PM |
| Sunday | 09:30 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment
Primary catchment spans 1.2 million residents in 5 km radius, with secondary at 10-20 km, showing 1.5% annual population growth. Median age stands at 32 years, household size 3.5, tertiary education 25%, and median income 25 million VND monthly. Per capita retail spending totals 2,529 USD yearly, including 68.66 USD on apparel, 1,000 USD on groceries, 200 USD on electronics. Demographics target young professionals, families, and middle-class urbanites, bolstered by low unemployment of 1.92% and cost of living at 590 USD monthly, fostering steady demand but capping luxury segment potential amid Da Nang's urbanization.
Competition and Market Risks
Da Nang retail features rivals like Lotte Mart and Indochina, yielding medium density in fashion and food. E-commerce surge heightens competition, diminishing physical footfall alongside neighborhood centers and online platforms. Saturation in key categories pressures rents and negotiations; economic volatility influences discretionary outlays. Seasonal tourism dips and broader market challenges, including post-Covid recovery variances, introduce risks to consistent performance, though Vincom's network aids resilience via targeted upgrades.
Operational Quality and Accessibility
Central location ensures public transport access, main road proximity, high pedestrian flow, and 800 parking spots. Management by Vincom provides professional oversight, CCTV security, digital signage, and low crime rates, with 79% internet penetration supporting 40% click-and-collect. Infrastructure from 2015 may demand upkeep, while traffic bottlenecks and logistics issues arise during peaks. Occupancy at 95% reflects stable operations, medium lease flexibility, and promotional events, yet tourism fluctuations and access inefficiencies pose challenges to daily traffic reliability.
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