Vincom Retail Divests Hanoi Asset to Optimize Portfolio and Focus
Vincom Retail JSC has publicly announced the complete transfer of its entire capital contribution in Vincom NCT Real Estate Co., Ltd., the owning entity of the popular Vincom Centre Nguyen Chi Thanh, to Bao Quan Investment, Trading, and Services Co., Ltd.
This strategic transaction aligns directly with Vincom Retail’s core strategy to refine its operations, maximize efficiency, and sharply focus its valuable resources on key retail centers that demonstrate the highest potential for future development and substantial growth.
Following the successful completion of this transfer, the entity known as Vincom NCT will cease to function as a subsidiary of the larger Vincom Retail corporation.
It’s important to note that the transferee, Bao Quan Investment, Trading, and Services Co., Ltd., is confirmed to be an entirely independent legal entity, possessing absolutely no ownership or direct relationship with the larger Vingroup conglomerate or any of its associated member companies.
This move to divest an established asset allows Vincom Retail to enhance its overall investment portfolio management, ensuring capital is optimally directed toward projects and locations that offer the most compelling returns and strategic advantages within Vietnam’s highly competitive retail real estate sector, reaffirming the company’s commitment to a more focused and streamlined business model.
Details of the Divested Asset and Unaffected Customer Experience
The asset involved in this strategic transfer, Vincom Centre Nguyen Chi Thanh, is a well-established and sizable retail complex that first opened its doors to the public in November two thousand fifteen.
The center spans an impressive total area of fifty five thousand four hundred square meters and benefits from a prime location on Nguyen Chi Thanh street, which serves as a bustling arterial road that effectively connects the central districts of Hanoi with the city’s rapidly expanding western urban areas.
The complex is architecturally designed with six above-ground floors and four spacious underground levels, fully adhering to the “one destination for all needs” service model.
It consistently offers patrons a wide and comprehensive array of products and utility services, ranging from diverse retail outlets and various dining options to specialized entertainment venues and essential wellness services.
During the ongoing, planned renovation phase initiated by the new owner, Vincom Retail has assured the public that customer benefits and access to key services will remain entirely unaffected.
The mall is set to continue its normal operations in all areas not currently under renovation, ensuring the continued availability of essential services such as the supermarket, the popular food court, the cinema, and other utility offerings, minimizing disruption to the local community and securing a smooth transition for the asset’s next chapter.
Sustaining Market Leadership Through Strategic Portfolio Optimization
Despite the divestiture, Vincom Retail continues to hold a dominant position as the leading entity in Vietnam’s highly dynamic retail real estate market.
The company operates a vast and influential network comprising nearly ninety established Vincom shopping centers, strategically distributed across thirty one of the country’s thirty four cities and provinces, giving it unparalleled national reach.
This widespread presence underscores its central role in shaping the retail landscape for Vietnamese consumers.
The company has demonstrated its aggressive expansion and development capabilities most recently with the high-profile inauguration of Vincom Mega Mall Ocean City in the eastern part of Hanoi, which covers nearly seventy thousand square meters, and the opening of Vincom Mega Mall Royal Island in Haiphong, which encompasses over fifty five thousand square meters.
Moving forward, Vincom Retail is fully committed to pursuing a long-term, sustainable growth strategy.
This includes the continuous optimization of its entire investment portfolio, as demonstrated by the Nguyen Chi Thanh transaction, while simultaneously prioritizing the enhancement of the overall shopping, entertainment, and dining experiences offered to consumers across the entire nation, ensuring the brand maintains its relevance and market leadership through focused investment and continuous service refinement.
