PACIFIC Star Group has signed its first contract in Vietnam – to become asset management adviser to a mall in a US$500 million mixed-use project.
|Three-year deal: Pacific Star will manage the five-storey, 700,000 sq ft retail complex Sunrise City Shopping Mall, part of a project called Sunrise City (above)|
The Singapore-based real estate player also plans to grow its presence in Vietnam by investing in retail, residential and mixed-use properties.
Pacific Star has closed a three-year deal with Vietnamese developer Novaland to advise on managing the latter’s Sunrise City Shopping Mall.
The five-storey, 700,000 sq ft retail complex in Ho Chi Minh City should be ready by late 2012. It is part of a project called Sunrise City, which will also have 14 residential and office towers.
Pacific Star will be responsible for the mall’s overall concept and performance, and for coming up with strategies for retail mix, leasing and advertising. Several international fashion and food and beverage brands have expressed interest, it says. Continue reading