External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>In 2024, VRE launched one Vincom Mega Mall (VMM) and four Vincom Plaza (VCP) locations, adding over 90,000 m² of gross floor area (GFA).</li><li>In 2025, it plans to open two VMMs and one VCP, adding 120,000 m², including Vincom Mega Mall Ocean City (Hưng Yên) in 2Q25 (53,200 m²), Vincom Mega Mall Royal Islands (Hải Phòng) in 3Q25 (47,600 m²), and Vincom Plaza Vinh (Nghệ An) in 4Q25 (19,000 m²).</li><li>This adds 210,000 m² (+12% vs. end-2023), marking a recovery after the 2020–2023 period, when only three malls (VMM Smart City, VCP My Tho, VCP Bac Lieu) opened, due to COVID-19 and macroeconomic challenges.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

In 2024, VRE launched one Vincom Mega Mall (VMM) and four Vincom Plaza (VCP) locations, adding over 90,000 m² of gross floor area (GFA).In 2025, it plans to open two VMMs and one VCP, adding 120,000 m², including Vincom Mega Mall Ocean City (Hưng Yên) in 2Q25 (53,200 m²), Vincom Mega Mall Royal Islands (Hải Phòng) in 3Q25 (47,600 m²), and Vincom Plaza Vinh (Nghệ An) in 4Q25 (19,000 m²).This adds 210,000 m² (+12% vs. end-2023), marking a recovery after the 2020–2023 period, when only three malls (VMM Smart City, VCP My Tho, VCP Bac Lieu) opened, due to COVID-19 and macroeconomic challenges.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vincom Retail JSC (VRE VN/Buy/TP: VND24,100) - Launching 2 VMM & 1 VCP in 2025