A shopping centre in HCM City. Experts say that landlords should shift to new rental methods to reduce risks. – VNA/VNS Photo Market researcher JLL Vietnam said in its report that although the market is expected to pick up steam again when the COVID-19 situation improves, landlords, especially domestic ones, should consider this shift. According to JLL, the new trend would help landlords “share risks and enhance the relationship between landlords and tenants.” JLL predicted that “nearly 280,000sq.m of gross floor area of retail space is scheduled to open at end-2020. However, this remains uncertain as the weak sentiment in the traditional retail sector may affect the opening plan.” In the long term, traditional retail models in Vietnam could restructure under this rental concept and change the tenant profile, helping to counter the current stagnation. CBRE forecasts that by the end of 2020, international flights are expected to resume, and hence, the comeback of international tourists could occur, which could help the revenue recovery of some retailers. “All pipeline projects have postponed their opening date, awaiting for recovery of leasing demand as well as Metro line No 1, which is expected to open next year. The opening of the first… Read full this story
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