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Apparel retailers unfazed by hike in lease rentals
05
Mar '10
On back of demand from clothing and accessory brands, rentals for stores are shooting up thorough the roof in the last few months in HCM city, the reasons for which are not too far to seek.

There is a mad scramble for up-scale good location stores amongst the various brands, which are few in number. Sensing the trend, landlords are hiking rents arbitrarily. According to sources, rentals have been hiked by 30 percent in recent months.

However, brand owners are not worried as they feel that HCM city, with a population of nine million have a stable income and they would be able to absorb the high rentals as a steady flow of customers is assured.

Space in the up-scale Diamond Plaza shopping center commands the highest rent. Owners are quoting rents of up to $220 per sq. meter per month, but still clothing retailers are lining up to sign lease rentals.

Fibre2fashion News Desk - India

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