Pacific Place is a USD$40 million Taiwanese office, apartment and retail property on Ly Thuong Kiet in Hanoi's Hoan Kiem District. The building offers 185 luxury apartment sold on long leases with 7,500 sqm of retail space below.
Leasing rights for residential units at Pacific Place were sold for $2,600-3,000 per square metre, for 37 years and the offices rented for USD$30-40 a month. The Pacific Place project was originally licensed in 1994 as a five star hotel to a joint venture between Ever Fortune Industrial of Taiwan and two Vietnamese companies. It was delayed for various reasons until the foreign company bought out the local partners a few years ago.
Long term leases for Retail and Office space of Pacific Place, makes for a unique investment opportunity by helping to reduce overheads costs. Pacific Place will offer a new and exciting shopping centre of a scale that will provide attractive retailing opportunities to tenants and shoppers alike. For the first time, Hanoi will have a world class modern shopping arcade in the centre of town. Retailers will enjoy competitive rents, great signage opportunities, and shopping centre management of an international standard.
