On October 28, Vincom Retail (VRE) announced the transfer of its entire stake in Vincom Center Nguyễn Chí Thanh to Bảo Quân Trading & Investment Co. Ltd. for over 3.630 trillion VND. This move is part of VRE’s strategic shift to focus on developing large-scale shopping malls within Vinhomes urban areas, integrating shopping and entertainment experiences. Recent openings include Vincom Mega Mall Ocean City and Vincom Mega Mall Royal Island, alongside investments in the Cần Giờ urban area, reflecting this new direction. The transfer of Nguyễn Chí Thanh, a core shopping center, raises questions about VRE’s strategy to shift from traditional city-center malls to larger projects. They have also chosen not to distribute dividends for 2024 to retain funds for future plans.
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