AEON Mall Vietnam to Invest Over US$167m in Landmark Thanh Hoa Shopping Centre

• 11 August 2024
• Construction Focus
• 1638 Views

AEON Mall Vietnam has secured approval from Thanh Hoa provincial authorities to invest over US$167 million in a large shopping centre spanning 10.5 hectares, set to become the largest commercial hub in the northern region of Vietnam. This significant investment, reported by VNEXPRESS on 4 August 2024, underscores AEON Mall’s commitment to expanding its footprint in Vietnam’s retail landscape.

The project will be strategically developed in the urban area of South Thanh Hoa City, specifically in Quang Thanh Ward, which is already recognised as Vietnam’s largest commercial zone. The site has undergone essential preparatory work, including thorough cleaning and initial infrastructure setup, paving the way for construction.

The development will unfold in three major phases. The first phase will involve constructing a 5-storey structure over 48 months, followed by a 4-storey building in the second phase. The final phase will see the completion of a 7-storey building and a dedicated parking facility, making it a comprehensive commercial centre.

Thanh Hoa provincial authorities have highlighted this project as a pivotal initiative in the trade and retail sector, symbolising the province’s growing prominence in Vietnam’s economic landscape. Once operational, the shopping centre will play a crucial role in promoting Vietnamese agricultural products, particularly through the OCOP (One Commune, One Product) program, which aims to integrate local goods into Japan’s retail supermarket system and other international markets where AEON Mall operates.

Currently, AEON Mall Vietnam has successfully launched nine supermarkets in key cities such as Hanoi, Hai Phong, Binh Duong, and Ho Chi Minh City. During a meeting with the Vietnamese Prime Minister in May, AEON’s CEO revealed plans to establish 20 additional supermarkets and entertainment complexes across the country, further solidifying the company’s long-term investment strategy in Vietnam.

• Business and Market
• Projects Development
• Economy and Finance