Crescent Mall

Phu My Hung Corporation Auchan Savills
Crescent Mall
Crescent Mall logo.png
Nguyen van Linh tan phu, q7 hcmvn - panoramio.jpg
Crescent Mall in 2013
General information
StatusComplete
TypeShopping mall
Architectural stylePostmodern
LocationPhú Mỹ Hưng, District 7
Address101 Ton Dat Tien Street, Tan Phu Ward
Town or cityHo Chi Minh City
Country Vietnam
Coordinates10°43′43.4″N 106°43′0.67″E / 10.728722°N 106.7168528°E / 10.728722; 106.7168528Coordinates: 10°43′43.4″N 106°43′0.67″E / 10.728722°N 106.7168528°E / 10.728722; 106.7168528
Groundbreaking12 June 2009; 11 years ago (2009-06-12)[1]
Construction startedJuly 2009; 11 years ago (July 2009)
Opened30 November 2011; 8 years ago (2011-11-30)[2]
Cost2,310 billion [2]
OwnerPhu My Hung Corporation
LandlordSavills[1]
Technical details
Size112,000 m2 (1,210,000 sq ft)
Floor count9
Floor area45,000 m2 (480,000 sq ft)
Grounds3
Design and construction
ArchitectTan Gek Meng[3]
Architecture firmSkidmore, Owings and Merrill
Design International[3]
DeveloperPhu My Hung Corporation
Other designersKORN Architekten
K Y T A Architects[3]
Other information
Number of stores200
Website
crescentmall.com.vn
References
[4]

Crescent Mall is a shopping mall in Ho Chi Minh City, Vietnam, located at Phú Mỹ Hưng planned city in District 7. The mall has an area of 112,000 m2 (1,210,000 sq ft) that consists of 200 stores, a supermarket, cinema, restaurants, cafes, and gaming stadium. The mall was designed by Tan Gek Meng, and developed and owned by Phu My Hung Corporation. The mall design incorporates the concept of ruyi, which is said to bring good luck and fortune. The mall's current anchor tenant is Co.opmart, while previous anchors of the mall include Giant and Auchan.

History

The initial concept of Crescent Mall was first unveiled on 9 April 2008 by Phu My Hung Corporation.[5] Skidmore, Owings and Merrill, and Design International were chosen as the master planners for Crescent Mall, with KORN Architekten, a German-based architecture firm, and KYTA Architects, a Singaporean-based architecture firm as designers for the mall. Architect Tan Gek Meng designed the building.[3] The manager and leasing agent was Savills.[1] The elevators and escalators were provided by Schindler and installed by Jardine Matheson.[6]

The groundbreaking ceremony was performed on 12 June 2009 and construction began in July that year.[4] During the groundbreaking ceremony, Vietcombank formed a consortium with Vietinbank, Bao Viet Bank, Gia Dinh Bank, and Asia Commercial Bank to grant Phu My Hung Corporation a loan worth 1.2 trillion within 10 years.[1] The mall had an invite-only preview by Phu Mu Hung Corporation to selected guests, largely international and luxury brands, on 28 January 2010, before making retail lots available for lease.[7]

The mall was officially opened to the public on 30 November 2011.[2] The first Giant store in Vietnam opened in Crescent Mall, serving as the mall's first anchor tenant[8] until 28 November 2018, when the Vietnamese operation was acquired by French-based retailer Auchan and replaced as anchor.[9] However, Auchan announced its withdrawal from the Vietnamese market in May 2019 due to unprofitable and unsustainable operations in Vietnam[10] and competition with the local supermarket chain Co.opmart. Auchan has closed most of its Vietnamese stores, but its branch in Crescent Mall will remain in operation until Tết in 2020 where after this period the anchor itself will be rebranded as Co.opmart.[11]

H&M opened its third Vietnamese store in Crescent Mall on 8 September 2018.[12]

Due to the increasing demand for business and retailers, Phu My Hung Corporation invested additional funds in February 2019 to upgrade and expand Crescent Mall as part of the Phú Mỹ Hưng infrastructure upgrade plan. This expansion of the mall will include phase 2 of Crescent Mall and an additional 24-story office building known as Crescent Hub.[13] The mall expanded an additional 12,000 m2 (130,000 sq ft) at the end of 2019.[14]

Design

The design of this mall was said to be inspired by the concept of ruyi which is a symbol of good luck and fortune.[8]

Retail

Crescent Mall contains 45,000 m2 (480,000 sq ft) of retail space. It has a large variety of stores including international chains such as GAP and Tommy Hilfiger, restaurants, a cinema, and a supermarket: Co.opmart. There are numerous chain stores selling clothes and cosmetics, as well as gift and souvenir stores. Among the cafes are branches of Gloria Jean's Coffees and The Coffee Bean & Tea Leaf.[8]

See also

References

  1. ^ a b c d "Phu My Hung builds mall". Phu My Hung Corporation. 2009-06-12. Retrieved 2020-06-29.
  2. ^ a b c "The outlook of Vietnamese retail market through figures". The Gioi Ban Le. 2011-12-23. Retrieved 2020-06-29.
  3. ^ a b c d "The Crescent: Architects & Designers". Vietnam Real Estate Report. 2009-05-30. Retrieved 2020-06-29.
  4. ^ a b Do, Tracy (2019-11-30). "Crescent Mall Ho Chi Minh City". Scooter Saigon Tour. Retrieved 2020-06-29.
  5. ^ "Phu My Hung corporation officially introduced The Crescent and appointed Savills to be sole leasing and management agent for the project". Phu My Hung Corporation. Retrieved 2020-06-29.
  6. ^ "Rise in New Installation Business for Jardine Schindler Group" (PDF). Jardine Matheson. 2010. Retrieved 2020-06-29.
  7. ^ The Saigon Times (2010-01-21). "PMH to put up Crescent luxury mall for lease soon". Vietnam Property Report. Retrieved 2020-06-29.
  8. ^ a b c Thuy, Thanh (2011-10-17). "Crescent Mall set to open in Phu My Hung". Vietnam Investment Review. Retrieved 2020-06-29.
  9. ^ Nhung, Hong (2018-11-30). "Giant hypermarket becomes Auchan Crescent Mall". Vietnam Economic Times. Retrieved 2020-06-29.
  10. ^ Hoai, Nguyen (2019-05-22). "French retailer Auchan to retain three of 18 Vietnam stores". VNExpress. Retrieved 2020-07-01.
  11. ^ "Saigon Co.op takes over 18 Auchan supermarkets". Vietnam Net. 2019-06-28. Retrieved 2020-07-01.
  12. ^ "Savills Vietnam announces the opening of H&M at Crescent Mall". British Business Group Vietnam. 2018-09-07. Retrieved 2020-06-29.
  13. ^ "Phu My Hung pours millions USD into infrastructure". Vietnam News Biz Hub. 2019-02-28. Retrieved 2020-06-29.
  14. ^ "CBRE Releases 2019 Review And 2020 Outlook Highlighting Key Trends In HCMC". CBRE Vietnam. 2020-01-08. Retrieved 2020-06-28.