Vietnam’s retail market has consistently recorded positive growth over the past decade, fuelled by a rapidly expanding middle class, urbanisation, and a young, digitally connected population.

According to the National Statistics Office under the Ministry of Finance, retail sales of goods and services in the first five months of 2025 approximated $110 billion, up 9.7 per cent on-year. This growth is driven by consumers increasingly seeking convenience, lifestyle integration, and premium experiences^.

As the retail sector continues its robust upward trajectory, Hanoi is emerging as a focal point for high-value commercial real estate investments. The city’s rising affluence and cosmopolitan demographic make it an ideal location for next-generation retail destinations.

Despite this rapid growth, retail space remains relatively underdeveloped compared to regional peers, with supply decreased by 3 per cent in the first quarter (Q1) of 2025, while rental of central spaces went up 37 per cent on-year. According to Savills’ Vietnam Real Estate Market Report Q1/2025, Hanoi Centre, located at 175 Nguyen Thai Hoc, is the most anticipated undertaking slated to open in 2025 and fill in this gap.

Spanning 72,000 square metres across five levels, Hanoi Centre can accommodate up to 240 stores, offering a thoughtfully curated blend of retail, dining, and entertainment. Its scale and variety make it one of the most comprehensive retail destinations in northern Vietnam.

Artist's impression of Hanoi Centre, with its sophisticated architecture and impressive open spaces - Photo: Keppel

With Hanoi Centre, Keppel continues to deliver the philosophy of 'Urban Living Redefined' to the capital, creating a space that is not just for shopping, but for connecting and experiencing, driving on previous successes with Saigon Centre and Estella Place in Ho Chi Minh City.

“Mixed-use developments are reshaping Vietnam’s retail real estate landscape. As cities become more densely populated, people increasingly seek integrated spaces where they can live, work, and play,” said Joseph Low, president, Real Estate, Vietnam, Keppel Co., Ltd.

Hanoi Centre is redefining the entertainment landscape in the capital with a series of firsts that elevate the consumer experience beyond traditional retail.

At the core of its leisure offerings is Galaxy CineX – Hanoi Centre, Galaxy's flagship cinema complex in Vietnam, featuring Hanoi’s first IMAX with Laser theatre, Onyx Cinema LED display, and Dolby Atmos – all housed under one roof.

Spanning 2,800sq.m, this state-of-the-art cinema promises a world-class visual and auditory experience, setting a new benchmark for moviegoers. Adding to the excitement is Timezone, a 1,360sq.m family entertainment centre that offers a wide array of interactive games and digital amusements.

Meanwhile, kidzooona, Woopie, and AdventureS – a pioneering complex for entertainment, recreation, exercise, and education – offer educational play zones designed for families with children.

The screening room at Galaxy CineX - Photo:Galaxy CineX

The culinary offerings at Hanoi Centre are carefully curated to reflect both cultural richness and contemporary dining trends.

Meat lovers can explore a wide range of grilled specialities, from bold Korean-style barbecue at Jeonbok and GoGi House to premium steakhouse fare at Dinh Phong Grillhouse, where carefully selected imported meats highlight a refined dining concept.

Diners can also savour authentic Thai cuisine at Mangkorn or enjoy local tastes with a twist at Bo To Quan Moc restaurant. Complementing these are other popular names such as Pizza 4P’s, Long Wang Steam Hotpot, Gyu Shige – Nguu Phon, and Starbucks, ensuring that every visit delivers a dynamic and satisfying gastronomic journey.

As for shopping offers, Hanoi Centre curates a compelling mix of global and regional brands that reflect the evolving tastes of Vietnam’s growing affluence, starting with an impressive line-up of luxury and high-end brands including Chanel, YSL Beauty, BOSS, Valentino Creations, Coach and Diamond World.

MUJI, the iconic Japanese retailer, brings its philosophy of sustainable living and timeless design to the capital. Meanwhile, OH!SOME introduces a fresh take on the ‘one-stop shop’ trendy concept, offering a holistic lifestyle retail experience.

POP MART - a rising global force in pop culture and entertainment, celebrated for its collectibles, blind boxes, and lifestyle accessories that infuse creativity and artistry into the retail experience.

Adidas is set to make a bold statement with its largest flagship store in Hanoi, spanning over 1,000sq.m, while high-street fashion brand Urban Revivo will make its debut in the capital, bringing trend-forward designs that resonate with the city’s youthful demographic.

Hanoi Centre’s launch aligns with Vietnam’s retail real estate sector transformation towards experiential, mixed-use complexes, mirroring developments in mature markets such as Singapore, Japan, and South Korea.

The complex's rare combination of scale, prime location, and visionary design make it highly attractive to both international and domestic retailers seeking a flagship presence in the capital.

Slated to open in November this year, the launch of Hanoi Centre will feature a vibrant mix of entertainment, exclusive promotions, and interactive workshops. More than just a retail destination, Hanoi Centre is poised to become a landmark that embodies the spirit of a modern, globally connected capital, a place where shopping, culture, and community converge.