Japanese retailer Aeon ready to open its first central Vietnam mall in Sept
Japanese retailer Aeon is set to launch a mall in Thua Thien Hue province, its first in central Vietnam and seventh in the country, on September 16.
A delegation of the project’s contractors made the statement to Phan Quy Phuong, Vice Chairman of Thua Thien Hue province, while Phuong conducted an on-site visit to check the project’s progress on Monday.
Thua Thien Hue Vice Chairman Phan Quy Phuong (center) makes an on-site check at Aeon Mall Hue, in Thua Thien Hue province, central Vietnam, on July 15, 2024. Photo courtesy of Aeon Mall Vietnam.
At the construction site, Phuong hailed the project’s progress and asked relevant authorities to facilitate the investors to fulfill tasks related to fire prevention, licenses for shops within the mall, and others.
The construction of the facility, called Aeon Mall Hue, with an investment of VND3,916 billion ($167 million), kicked off in February 2023. The mall, located in Hue town, covers 8.6 hectares. This will become the biggest service and trade center in Vietnam's central region, adding values to Hue as a top tourist attraction.
Aeon is operating six malls in the country - two in Hanoi, one in Hai Phong city, two in Ho Chi Minh City, and one in nearby Binh Duong province.
Aeon earned an operating income of JPY1,332 million ($8.44 million) in Vietnam in the first quarter of its fiscal year 2024 (March-May 2024), up 21.9% year-on-year. The retailer recorded operating revenues of JPY4,013 million ($25.42 million) in the three-month period, up 13.8% year-on-year.
In January 2024, Aeon Vietnam, a joint venture between Japanese retailer Aeon and local business Viet Phat Group JSC, kicked off construction of a 13-hectare mall with an investment of VND5,200 billion ($214 million) in the northern province of Quang Ninh. The facility, located near the famous tourism destination of Ha Long Bay, is expected to employ about 2,500 people and serve 10 million customers a year.
In May, Aeon Vietnam began building the Aeon Tan An shopping center with an investment of over VND1 trillion ($39.3 million) in the southern province of Long An. This will be its first in the Mekong Delta of Vietnam. Covering 2.1 hectares, construction is set for completion in August 2025, and the shopping center is expected to employ 600 locals.
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