Grow Retail Asia

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Congratulations Lê Trần Phong on your Opening of Adventure S and SAGA Cafe & Eatery in Hanoi Centre.
Thank you and a job well done, Ms. Trương Thị Vân Hạnh !

Cambodia 2026 Economic Forecasts
While the Year of the Fire Horse is associated with "chaotic energy" and "bold transformation" in astrology, economic assessments for Cambodia in 2026 predict a period of slower growth:

• GDP Growth: The International Monetary Fund (IMF) slashed its 2026 growth forecast for Cambodia to 4.0%, down from previous higher estimates. The World Bank maintains a slightly higher but still cautious outlook of 4.3%.

• National Estimates: The Cambodian Ministry of Economy and Finance (MEF) and the National Bank of Cambodia (NBC) are more optimistic, projecting growth to hold at roughly 5.0%.

• Inflation & Currency: Inflation is expected to remain stable at around 2.8%, with the riel exchange rate anticipated to stay near 4,035 per US dollar.

Key Factors for 2026
The following "Fire Horse" year dynamics are expected to shape Cambodia's economy:

• Border Shock: The ongoing dispute with Thailand is cited as a primary "short-term external shock" that will impede growth throughout 2026.

• Tourism Recovery: Despite regional tensions, a moderate rebound in tourism is expected, supported by new government measures like 4-month visa exemptions pilot program for Chinese citizens starting in mid-June 2026. Chinese tourists account for 21% of foreign arrivals.

• Industrial Resilience: Manufacturing, particularly in non-garment sectors, is projected to remain a pillar of the economy, with industrial output expected to rise by 9.3%.

• Regional Shifts: Economists note that while 2026 may be a "softening" year, it does not necessarily dampened Cambodia’s long-term upward trajectory.

Shopping Malls: Stabilization and Oversupply
Cambodia's shopping mall sector is currently at a "reset" point.

• Malls are shifting from rapid expansion to a period of consolidation. While vacancy remains a challenge due to a sharp increase in retail supply since 2019, prime malls in Phnom Penh (such as Aeon Mall) are expected to perform better than smaller, non-prime strata commercial projects.

• Mall Developers are deferring the completion of new malls to avoid exacerbating the current oversupply.

• The ongoing border tensions have led to a nationalist-driven consumer "Buy-Khmer" Movement noticeably impacting foot traffic in Thai franchises such as 7-Eleven and Cafe Amazon within Cambodian retail centers.

• Consumer Shift, as Malls are pivoting to house more local "Khmer brands" to align with current nationalist sentiments and to fill gaps left by the boycott of Thai imports.

I travel on VinBus each time I visit Hanoi. It has become my staple of modern urban transit in Vietnam, it being clean, quiet, high-tech, and always on time.

Loud conversations are frowned upon inside, eating is not allowed, every bus offers free high-speed Wi-Fi, USB charging ports at every seat, automatic lowering system and ramps for the elderly, children, and people with disabilities.
Each trip costs between $0.30 to $0.40 and payment is transacted through a contactless bus pass. Very convenient! When used as tourist shuttlers especially in Phu Quoc they are free.

But what impressed me the most is that each passenger is politely greeted by the bus conductor "Xin-Chao" each time they board, and disembark the bus, every single one! Well done,

A recent visit to one of the most anticipated luxury retail developments in the city. Hanoi Centre is the shopping mall component within the larger Tien Bo Plaza the overall multi-functional complex (which includes office towers, a 5-star hotel, and high-end apartments) located at 175 Nguyen Thai Hoc Street, Ba Dinh District.

Unlike the sprawling “mega-malls” on the city’s outskirts (like Lotte Mall West Lake or Aeon Mall), Tien Bo is positioned as a premium, high-density, mixed-use development positioned in the historic and diplomatic heart of Ba Dinh District.

To stay competitive Hanoi Centre will do well to move away from the "everything for everyone" model of suburban malls. While Lotte Mall West Lake wins on sheer scale and entertainment Tien Bo positions itself as the high-density "lifestyle curator" for the central business district.

Despite its premium positioning, Hanoi Centre still needs to overcome two issues, that,
• Lotte West Lake has quite successfully branded itself as the "weekend destination" for families.
• The "Trang Tien" ultra-luxury (Hermès, Dior) shopping destination in Hoan Kiem.

The mall spans five floors and features roughly 240 stores. It is positioning itself as a high-end destination similar to Saigon Centre in Ho Chi Minh City with rising occupancies that include the following tenancies;

Luxury & High-End Fashion:
• Chanel and YSL Beauty
• BOSS and Valentino Creations
• Coach
• Victoria's Secret

Flagships & Lifestyle:
• Adidas: Opening its largest flagship store in Hanoi (over 1,000 sqm).
• Uniqlo & MUJI: Major Japanese anchors for everyday lifestyle and apparel.
• Urban Revivo: Making its debut in the Hanoi market.
• POP MART: The global collectibles and "blind box" brand.
• ZARA & Bershka: Popular high-street fashion favorites.

Entertainment & Dining:
• Galaxy CineX: A flagship cinema complex featuring IMAX with Laser and Onyx LED screens.
• AdventureS : combines entertainment, exercise, and education, caters heavily to families with children, its "exercise and recreation" focus includes wall-climbing, obstacle courses, and interactive fitness games that appeal to older kids and teens as well.
• Dining: Confirmed names include Pizza 4P's, Starbucks, Jeonbok (Korean BBQ), GoGi House, and Mangkorn (Thai cuisine), SAGA Cafe & Eatery with a focus on specialty coffee and a "fusion" brunch menu.

As we approach Christmas, it’s hard to ignore the heavy shadow cast by the conflicts unfolding across our world. While we gather with loved ones, my heart is particularly heavy for the people of Cambodia 🇰🇭 , the displaced hundreds of thousands of families and the too many claimed lives.

​This season, as we celebrate the message of "Peace on Earth.".. we pray that diplomacy and humanity will eventually triumph over division.

​Wishing you all a Merry Christmas. 🎄🕊️

Happenings at The Peak Prelude, an exclusive event showcasing Khun Khmer combat moves intertwined with elements of fashion-wear, performed on the catwalk.

One of the several in a series of exclusive events marking the beginning of a remarkable journey of The Peak Mall.

Sokha Lihua Mall in Sihanoukville, Cambodia - an integrated mixed-use development offering lifestyle shopping & dining, a social amusement centre (a casino), Living & Work Spaces, and the international standard Sokha Beach Hotel.

Mall opens Q2 2025, and we still have retail spaces to lease out.
If you want to know more, do Call or, meet me for a chat over coffee if you are in Phnom Penh.
+855 313799799

Happy to chat over coffee if you want to know more about office space lease in this building.
Telegram me: 0313 799799

Sokha Lihua Mall is part of an integrated casino resort development located just meters from the beach, targeting high-yield tourists and the medium / upper-medium segment of society, offering multidimensional leisure and entertainment choices that create experiential value for its customers.
Grow Retail Asia is working on placing tenants at this mall.
If you are keen to know more, or wish to have a discussion over coffee in PhnomPenh, do contact us at:
Grow Retail Asia
+855 92212181 0r +855 313799799
#

Sokha Lihua Mall, part of an integrated casino resort, located just meters from the beach, targeting high-yield tourists and the medium / upper-medium segment of society, offering multidimensional leisure and entertainment choices that create experiential value for its customers.
Grow Retail Asia is working on placing tenants at this mall.
If you are keen to know more, or wish to have a discussion over coffee in PhnomPenh, do contact us at:
Grow Retail Asia
+855 92212181 0r +855 313799799
#

Sokha Lihua Mall, part of an integrated casino resort, located just meters from the beach, targeting high-yield tourists and the medium / upper-medium segment of society, offering multidimensional leisure and entertainment choices that create experiential value for its customers.
If you are keen to know more, or wish to have a discussion over coffee, do contact us at:
+855 92212181 0r +855 313799799
#