Aeon to Build its First US$180 million Mall in Myanmar in 2021

• Samphors Sao
• 5 August 2020
• Construction Focus
• 5173 Views

Aeon plans to build the first Aeon Mall in Yangon, Myanmar, in early 2021 with an investment of US$180 million, according to the Nikkei Asian Review on 06 August.

As a joint venture between Aeon Mall and Shwe Taung, the project will be built on 72,000 square metres of land and is scheduled to open in 2023.

President of Aeon Mall Yasutsugu Iwamura said in Nikkei Asian Review that although there is some uncertainty caused by the COVID-19 pandemic, the firm will proceed as planned, due to the strong performance in Cambodia and the commitment to capture dominant market share in Myanmar.

Southeast Asia is the Aeon’s largest market with five branches in Vietnam, two in Cambodia and two in Indonesia, generating over US$372 million in annual profit by the end of February 2020.

Aeon is also currently building its third mall in Cambodia worth over US$280 million which is scheduled to open by 2023. (Read more)

• Business and Market