Adoré – World Coffee's New Prime Spot in HCMC

Adoré – World Coffee has taken over a prestigious three-story building in Ho Chi Minh City, previously leased by Starbucks for $29,000 a month. The Vietnamese café is now paying VND700 million per month, slightly less than Starbucks but still nearly double the average rent for the area.

The property boasts an eight-meter frontage and stunning views from the upper floors, justifying its high rental price according to property analysts.

Challenges in Finding a New Tenant

It took the building owner eight months to find a new tenant, a reflection of the abundant supply of downtown properties in HCMC, many of which remain vacant for months. Owners of such prime locations prefer to maintain high rents rather than quickly filling vacancies.

Starbucks' New Chapter

Meanwhile, Starbucks has relocated its premium store concept to the Bitexco Financial Tower, a landmark in the city. The new store, spanning 500 square meters, is estimated to cost around $75,000 a month before discounts for long-term leases.

The coffee giant is also planning to open another premium store in HCMC in July, with Diamond Plaza being the likely location, just 300 meters from Han Thuyen Street.