Happy Spring
US veterans,
This is the solution to help both sides to expand their markets and raise their competitiveness, said a specialist.
Real estate traders come first, retailers follow
“We committed that where BMC is, there will be Coop Mart also,” said Nguyen Van Ngoc, General Director of the Construction Materials and Construction-Installation Company (BMC).
According to Ngoc, BMC and the Coop Mart supermarket chain under the Saigon Coop reached an agreement on development cooperation. Saigon Coop will open supermarkets in BMC’s buildings. The first supermarket of this kind is Coop Mart BMC, which opened in mid-2006 in Phu Tho Hoa ward, Tan Phu district, HCM City.
Ngoc said another supermarket will open in an apartment building invested in by BCM in District 7, HCM City.
Cooperation between real estate developers and retailers is developing. Saigon Coop recently inaugurated two supermarkets of this kind, but in cooperation with the Ba Ria-Vung Tau Housing Development Joint Stock Company (Hodeco) and another firm. The two supermarkets are in the SCREC apartment building and a building in Vung Tau city.
Saigon Coop General Director Nguyen Ngoc Hoa said that his company will open many more supermarkets in cooperation with various real estate developers in HCM City and other provinces.
Saigon Coop, the Saigon Transport Mechanics Corporation (Samco) and Singapore’s Maple Tree are implementing a trade and service complex of 42,000sq.m in District 7.
Nguyen Thi Hong Huong, the director of the supermarket chain of the Vietnam Textile-garment Group (Vinatex), said the group will increase the number of Vinatex Mart garment supermarkets from 50 to 80 by 2010. Besides hiring rooms, Vinatex will join hands with real estate developers to get desirable spaces in developing residential areas.
Real estate developers, retailers and customers benefit
Residents in the SCREC apartment building in District 3, HCM City can go shopping right on the first floor of their building, at the Coop Mart Nhieu Loc supermarket. This convenience makes the building more attractive.
According to Ngoc, the combination of real estate developers and retailers helps increase conveniences for the community and thus enhances the added value of real estate projects.
“The biggest benefit from this cooperation is that we can quickly develop our supermarket system at low investment ratio,” Hoa explained.
He said average investment in each supermarket is around VND30-50 billion (US$1.87-3.1 million) so capital would be a big problem for retailers who own tens of supermarkets. Cooperation with real estate developers will help them deal with this problem. In addition, retailers can have the best spaces in residential areas.
(Source: Tien Phong)
