A 50% stake in the commercial center and hotel complex Kumho Asiana Plaza Saigon in HCMC will be acquired by Asiana Airlines, said Won Il Woo, president and CEO of Kumho Engineering & Construction. “This is an internal deal within Kumho as it is being made between its two subsidiaries, Asiana Airlines and Kumho Engineering & Construction,” he said at a meeting with HCMC vice chairman Le... 

The Kumho Asia Plaza will start construction of a new food emporium- Kumho Link on the area of the old retail space soon this month after approval from the Ministry of Construction. The intention for the refurbishment was announced by two main investors: Kumho Asiana Plaza Saigon Company and management firm Colliers International Vietnam in April this year. The new food and beverage area will... 

Flexibility is seen as the key element for new landlords to consider if they want to woo tenants to set up in their office buildings after a slow market in the last six months, said an executive officer of CB Richard Ellis Vietnam (CBRE). Chris Currie, associate director of office services for CBRE, said on Tuesday that rent was part of a negotiation process between landlords and tenants and that... 

The property services provider CB Richard Ellis Vietnam (CBRE) has announced to put into service its project management to capitalize on the increasing demand of fitting out in the office market in Vietnam. John Harris, associate director of project management for CBRE, said that over a quarter of a million square meters of commercial space joins the HCMC office market every year, prompting the company... 

The vacant room space of office buildings in HCM City reportedly accounts for 25% of the total 1.6 million square meters available while supplies are expected to increase by 1 million square meters within the next three years. This situation forces proprietors to adopt new ways to better compete. The pharmaceutical group MSD’s newly opened HCM City office is on the 16th floor of the downtown Kumho... 

It is estimated that by 2013, HCMC will have about 740,000 square meters of retail space at shopping centers, double the current space, due to property developers going full steam ahead with new shopping center projects. Experts said that even though shopping centers have been mushrooming in Vietnam, recent events prove that some malls don’t produce the goods. Location, location, location not enough Distributors... 

With many anchor tenants recently vacating, Kumho Asiana Plaza Saigon shopping mall is likely to renew itself by changing the concept of the retail area. According to Peter Dinning, general director of Colliers International Vietnam – Kumho Asiana Plaza Saigon’s (KAPS) asset management agency – project developer Kumho Asiana Group is expected to approve the new concept in the next two... 

HCMC – InterContinental Hotels Group (IHG) is completing its preparations for official inauguration of the first Crowne Plaza hotel in Vietnam, hopefully early next year to further tap the country’s growing tourism market. The Crowne Plaza West Hanoi will open pretty soon, said Chihiro Tamao, director of sales and marketing at the luxury hotel on Le Duc Tho Street, My Dinh Commune, Tu Liem... 

As his office building has a good location in the central business district and was designed with the latest technology and building materials, Ha Van An wonders why the A&B Tower underway on Le Lai Street in downtown HCMC is classified as a grade B office building. The chief executive officer eventually learns that his building’s grading follows the criteria applied in the city, hence it is... 

Hien sells fabric and embroidered handmade clothes at Ho Chi Minh City’s Ben Thanh Market. He is looking to open a shop in a mall to expand, but cannot find a place despite searching for two months. Shopping malls in District 1 told him they have no space to rent and he is not keen on District 5 or 7 since sales may not be good. In District 1, it is a sellers’ market. The malls ask Hien what products...