Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta

Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).

To this end, Vietnam’s real estate developer Tay Bac Investment Group and Aeon Vietnam have signed an agreement to transfer part of the former's Tien Giang Commercial-Service Center project to the Japanese firm.

The signing took place shortly after the provincial People's Committee approved the transfer in late April 2025.

The full project spans over 30,000 square meters, including residential and commercial land. Tay Bac Investment Group had previously won a land use rights auction in December 2024 to implement the project.

The transferred portion covers 20,000 square meters in Dao Thanh commune, My Tho town, which will house the first Aeon Mall in Tien Giang province.

Construction is expected to begin in August 2025 and the mall is scheduled to be operational by Q4/2026.

The remaining portion of the original project will be developed by Tay Bac Investment Group into a Japanese-style shophouse area with 73 units and a central park.

Aeon currently operates seven malls in Vietnam, including Ta Phu Celadon and Binh Tan in Ho Chi Minh City, Ha Dong and Long Bien in Hanoi, Le Chan in Hai Phong city, Canary in Binh Duong province, and Aeon Mall Hue in Hue city.

According to its FY2024 report (Mar 2024 – Feb 2025), Aeon Mall’s operating revenue in Vietnam rose 13.5% to JPY17.3 billion ($120.1 million) and operating income grew 8.6% to JPY4.2 billion ($29.16 million).

Aeon Mall Can Tho, the first in the Mekong Delta, is under construction with an investment of VND5.4 trillion ($207.67 million) and a floor area of 195,073 square meters.

Partnerships with local developers

Aeon frequently partners with local companies that already hold commercial land rights to develop malls.

For example, it cooperated with Viet Phat Group for Aeon Mall Bien Hoa in the southern province of Dong Nai, officially launched in April 2025.

Aeon and Viet Phat also co-developed Aeon Mall Le Chan (operational since 2020) in the northern city of Hai Phong.

In neighboring Quang Ninh province, the Japanese retailer teamed up again with Viet Phat to launch 13-hectare, VND5.2 trillion (199.85 million) Aeon Mall Ha Long in February 2025.

In March 2025, Aeon acquired a local project from Tuan Kiet HD in the northern province of Hai Duong, renaming it Aeon Mall Hai Duong with an investment of VND1.17 trillion ($45 million).

In Bac Giang province near Hanoi, it has worked with Newland Group on a commercial–office–tourism project with a minimum investment of VND3.9 trillion ($149.9 million).