The presence of Central Retail within BIM Group’s urban development strategy underscores the increasingly important role of commerce and services in shaping the rhythm of life across urban areas and destination developments.
On May 14, BIM Group and Central Retail Vietnam signed a Memorandum of Understanding (MOU) to explore opportunities for retail development across urban projects and destinations developed by BIM Land, the real estate arm of BIM Group.
Representing the two parties at the signing ceremony were Mr. Doan Quoc Huy, Chairman and Chief Executive Officer of BIM Group, and Mr. Ton Chirathivat — Member of the Central Retail Group Founding Family
Operating in Vietnam since 2012, Central Retail currently manages more than 330 shopping malls and retail outlets across 26 provinces and cities, with brands including GO!, Tops Market, Kubo and Supersports. With its extensive network, diversified retail portfolio and experience serving a broad range of customer segments, Central Retail is regarded as one of the largest foreign retailers in the Vietnamese market.
The MOU between BIM Group and Central Retail opens up opportunities to explore retail models tailored to the urban developments, destinations and residential communities created by BIM Land. As property buyers increasingly prioritize post-handover operational amenities, the participation of major retail operators not only enhances consumer services, but also contributes to generating foot traffic, activating commercial activities and fostering long-term urban vibrancy.
According to a representative of BIM Group, collaborating with internationally experienced retail partners aligns with the Group’s integrated urban development strategy, in which residential, commercial, service and public spaces are planned cohesively from the very beginning.
“The long-term value of an urban development lies not only in the physical structures being built, but in its ability to cultivate an authentic lifestyle ecosystem where residents can live, shop, work, entertain and access daily services within a unified environment,” the BIM Group representative stated.
For Central Retail, this MOU extends beyond a conventional retail partnership, opening possibilities for collaboration in completing the amenity ecosystems within BIM Land’s large-scale urban developments, which already possess established residential communities and genuine consumer demand. This direction also reflects current real estate trends, where the value of a project is measured not solely by its residential products, but by the ability to operate and sustain a surrounding ecosystem of services for residents.
This approach has already been implemented by BIM Land across several operating destinations. At Halong Marina Urban Area, residential, hospitality, commercial, entertainment and service components are being developed in parallel to create a vibrant bayfront urban destination operating year-round.
At the Phu Quoc Marina integrated resort-entertainment complex, BIM Land is developing an integrated resort destination model featuring hotels, retail and tourism services. Meanwhile, Thanh Xuan Valley is envisioned as a nature-oriented living and retreat destination, combining accommodation with wellness and long-stay retreat experiences.
View from the central swimming pool and landscaped lake overlooking the Mega Mall at Thanh Phu Centre Point project in western Ho Chi Minh City
In southern Vietnam, a similar direction is being applied at Thanh Phu Centre Point — a commercial urban development located at the western gateway of Ho Chi Minh City. According to the master plan, the project will include a Mega Mall, Flagship Mall, Strip Mall, central park, ecological lake and commercial boulevards, aiming to serve not only internal residents but also professionals and workers from surrounding industrial zones.
Recently, BIM Group has also expanded partnerships with several other international retail operators across its urban projects, including AEONMALL Vietnam at the AEON MALL Danang Hoa Xuan project and Lotte Mart at Halong Marina.
The partnership with Central Retail marks a new milestone in BIM Group’s strategy to diversify retail models, positioning commerce and services as integral components of urban development rather than supplementary amenities added after completion.
As the real estate market becomes increasingly segmented, the operational quality of post-handover amenities is emerging as a key consideration for buyers. Through its collaboration with Central Retail, BIM Group continues to reinforce its direction of developing urban areas capable of fostering authentic lifestyles, where residents, customers and commercial activities coexist within a sustainable long-term ecosystem.
The presence of Central Retail within BIM Group’s urban development strategy underscores the increasingly important role of commerce and services in shaping the rhythm of life across urban areas and destination developments.
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