The recovery of high-end retail and the growing demand for “greening” offices
In the first 9 months of 2024, the luxury tourism and retail industry in Vietnam witnessed a strong recovery with more than 12.7 million international visitors, up 43% year-on-year. This has boosted demand for premium retail space, especially in central locations. The growing middle class has also contributed to the trend of shifting to modern shopping malls, which provide attractive shopping and entertainment experiences.
However, the supply of retail space is increasingly scarce, especially in prime locations in Ho Chi Minh City and Hanoi, creating fierce competition between brands, thereby putting pressure on rental costs. To optimize costs and take advantage of infrastructure, many brands tend to move from townhouses to shopping centers, where there is a stable customer flow, integrated shopping, entertainment and professional operation space.
In terms of office leasing, the need to switch to green certified buildings such as LEED, BCA Greenmark is becoming a top priority for many businesses to meet sustainability requirements and ESG commitments. Savills experts said that choosing a Grade A office with green certification is a priority or mandatory requirement for many businesses to create an effective working environment and build a positive brand image in the eyes of customers.
"When the central area land fund is no longer available, high-end office projects that are both green certified and transit-oriented (TOD) will have a plus point in the eyes of tenants," emphasized Ms. Nhung Vu, Director of Office Services Avison Young Vietnam.
Rare location of commercial icon Marina Central Tower
In this context, the 55-storey Marina Central Tower with 46 floors of class A offices, 5 floors of international-class commercial center and 4 floors of high-class rooftop, is considered to be a new symbol of Ho Chi Minh City, becoming a name of interest to many brands and businesses. With a prime location at the intersection of Ton Duc Thang - Nguyen Huu Canh, next to Ba Son bridge, the tower is located in the central area of District 1, where there is a shortage of class A office space and retail space.
A special highlight is the B2 basement of the tower, which is directly connected to Ba Son underground station, and right on the campus, there are 2 entrances to the Ben Thanh - Suoi Tien Metro line, expected to be operational at the end of this year. The rare location gives Marina Central Tower a traffic advantage according to the TOD model, bringing great opportunities for businesses, retail and F&B brands to reach thousands of customers every day, from office workers to local people.
Located in a new riverside square, only about 250m from the Saigon River, Marina Central Tower offers luxury shopping space and romantic culinary experiences with panoramic views of the Saigon River, Ba Son Bridge and the central area, ideal for brands to affirm their position and bring unique experiences to customers.
Experience world-class shopping and office at Marina Central Tower
Marina Central Tower is also an important commercial component in the 10ha master plan of Grand Marina, Saigon - the world's largest Marriott & JW Marriott branded real estate complex. This is a special position for brands to have the opportunity to approach the elite community of Marriott and JW Marriott branded apartments, where customers have high incomes and demand the best living experiences and services.
With 5 floors of commercial podium, Marina Central Tower is designed with 5 innovative retail space concepts, creating the perfect setting for luxury brands, high-end restaurants and F&B brands to meet the needs of modern customers, who increasingly prioritize experiences over traditional shopping.
Not only having the advantage of location, Marina Central Tower is also committed to sustainable development by aiming to achieve LEED Gold certification, ensuring that the building is not only environmentally friendly but also brings high operational efficiency to tenants. The building is equipped with advanced systems such as water-saving sanitation system, along with a wastewater collection system for watering plants...
These factors not only help reduce operating costs but also build a green and sustainable brand image for businesses. Companies are willing to pay more for a green workspace that meets both business efficiency and social responsibility.
Combining a prime location, excellent transport connections, modern amenities and a commitment to sustainable development, Marina Central Tower promises to bring long-term competitive advantages to brands and businesses, “playing an important role in shaping the future of retail and office spaces” as assessed by Savills Vietnam, as well as contributing significantly to the economic development of Ho Chi Minh City, helping the city maintain its position as the leading economic and commercial center in the region.
Marina Central Tower is scheduled to open in 2025, and is now 100% complete with its exterior glass façade. The building has begun leasing office and retail space since July this year.
