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VietNamNews

Japanese group builds $109m mall in HCM City

Update: March, 05/2012 - 10:45

HCM CITY — Aeon Viet Nam Co Ltd, an affiliate of leading Japanese retailer Aeon Co Ltd, announced on Friday that the group's very first shopping centre in the country would be built in HCM City's Tan Phu District.

The US$109-million project, called Aeon-Tan Phu Celadon Shopping Centre, would begin construction this September and would be completed by mid-2014, said Aeon Viet Nam CEO Nishitohge Yasuo.

Located on a 77,000sq.m area in Celadon City, the Aeon-Tan Phu Celadon Shopping Centre will have some 130 specialty retail outlets.

As much as 90 per cent of the goods on sale inside the centre would be domestically sourced, and the remaining would be imported from Japan and other countries, Yasuo added.

During a press meeting on Friday, Okada Motoya, president and CEO of Aeon group, revealed that they had plans to invest some 120 billion yen (about $1.47 billion) in Viet Nam's retail sector over the next decade.

Aeon planned to expand to 20 shopping centres and stores nationwide by 2020, and each of them would employ between 2,000 and 3,000 local residents, said Okada.

These shopping centres and stores would help also boost exports of Vietnamese goods to Japan, he said, adding that the operation of the shopping centres "is expected to help attract many other Japanese companies to enter Viet Nam."— VNS

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