GDP increased 6.4% year on year (YoY). There is a positive expectation the 6.7% annual growth target will be achieved.

Credit growth is boosting economic performance. Now at 11% and on line to achieve 21% by year end.

A registered FDI high of US$25.5 billion, up 34% YoY. Korea is back to the biggest source status with US$6.3 billion. HCMC projects registered US$3.7 billion FDI and lead major cities. US$12.5 billion was disbursed, 13% up YoY.

International arrivals increased 28% YoY to 9.4 million.


Total stock was approximately 1.2 million m2 with 14,600 m2 added from four new supermarkets and one podium opening. One closure and one downsize withdrew 6,500 m2.

Average gross rents were stable quarter-on-quarter (QoQ).There was a slight -1ppt decrease in occupancy. CBD rents rose with new international brand launches escalating. Non-CBD occupancy weakened with unappealing concepts and surplus supply.

Shopper focus is moving to affordable products and personal services. Technology is increasingly shaping consumer behavior, so innovation is required in marketing and retail experience.

OFFICE: Robust  

There were five new entries across all grades that saw stock increase 4% QoQ and 8% YoY to over 1.7 million m2. Four Grade C projects closed, withdrawing 15,000 m2.

Demand remained healthy despite new supply. Average occupancy was high at 95%, average rents were slightly up 2% QoQ and 7% year on year (YoY).

Grade A and B were responsible for all take-up this quarter, new launches absorbed well. Grade B was the best performing with  rents steadily trending up since Q3/2016.

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