Hanoi approves location for third Aeon Mall

Hanoi has approved a draft plan for the city's third Aeon Mall, which will cover 8.03 hectares in Dai Kim and Thinh Liet wards, Hoang Mai district.

The car park will have a capacity of 4,000 for cars and motorbikes, but the total floor area of the mall must not exceed 26 hectares, Hanoi authorities said. The designated site is near the planned M2 monorail and Giap Bat bus station, a major traffic hub of the city.

The Japanese group entered the Vietnamese market in 2013 with its first mall located in Ho Chi Minh City. In 2020, Aeon said it would invest $2 billion expanding its presence across Vietnam, eyeing a total of 25 malls by 2025.

Hanoi is currently home to two Aeon malls in Long Bien and Ha Dong districts. In 2019, Hanoi gave its in-principle approval for Aeon to invest $280.7 million in building Aeon Mall Hoang Mai, the third. This would be the largest investment by Aeon in Vietnam, Aeon Mall Vietnam general director Tetsuyuki Nakagawa said to then Hanoi Party Chief Vuong Dinh Hue at a meeting in May 2020.

The group already has six malls in the country - two in Hanoi, one in Hai Phong city, two in Ho Chi Minh City, and one in southern province of Binh Duong.

Earlier this month, the central province of Thua Thien-Hue announced the construction of Aeon Mall Hue with an investment of VND3,916 billion ($167 million) is set to kick off on February 11. The mall will be located in the An Van Duong urban area, An Dong ward, covering 86,216 square meters, including 50,000 square meters for a commercial center.

In July 2022, the retail giant surveyed locations in the southern province of Binh Duong for its second shopping mall there. Binh Duong authorities recommended two sites with areas of 4.8 hectares and four hectares in Uyen Hung ward, Tan Uyen town. The $95 million Aeon Binh Duong Canary, the first in the industrial hub neighboring HCMC, covers seven hectares in Thuan An town.

Last December, Aeon signed a memorandum of understanding with Hai Duong province People’s Committee to build a mall in the northern province. The mall will be located in the southern urban area of Hai Duong town near Vo Nguyen Giap boulevard.