HÀ NỘI — Việt Nam’s leading retail real estate developer Vincom Retail Joint Stock Company (HOSE: VRE), a subsidiary of Vingroup, has announced the sale of Vincom NCT Real Estate Company Limited in a move aimed at optimising its investment portfolio and focusing on key commercial centres with high development potential.

All VRE’s stake in Vincom NCT Real Estate Company Limited, the owner of Vincom Centre Nguyễn Chí Thanh – one of the long-standing shopping malls in a prime location in the capital – was sold to Bảo Quân Investment Trading and Services Company Limited for VNĐ3.63 trillion (US$138 million).

Following the transaction, Vincom NCT Real Estate Company Limited is no longer a VRE subsidiary. Bảo Quân Investment Trading and Services Company Limited is an independent company with no ownership relationship with Vingroup or its member companies.

The sale is part of Vincom Retail’s ongoing investment strategy to optimise operational efficiency and concentrate resources on commercial centres with large scale and strong growth potential.

Vincom Retail is currently the leading retail real estate developer in Việt Nam, operating nearly 90 shopping centres across 31 of 34 provinces and cities nationwide. Most recently, the company opened the Vincom Mega Mall system in the east of Hà Nội (Vincom Mega Mall Ocean City, with a scale of nearly 70,000sq.m) and Hải Phòng (Vincom Mega Mall Royal Island, with a scale of more than 55,000sq.m).

Looking ahead, Vincom Retail will continue its sustainable development strategy, optimise its investment portfolio, and deliver increasingly modern and diverse shopping, entertainment and culinary experiences to people across the country. — BIZHUB/VNS