Thailand’s leading retailer Central Retail began constructing a VND432 billion ($17.8 million) GO! mall in the Mekong Delta province of Bac Lieu on Wednesday.
The first phase of the project, covering 1.4 hectares of the total 2.5-hectare facility, is expected to be completed in 2024.
This will be the 41st mall built by Central Retail in Vietnam.
The facility, featuring a shopping area, cinema, restaurant, recreational zone, is a major effort of Central Retail to expand its mall network across Vietnam, from the northern region such as Lao Cai and Thai Nguyen provinces to the southern region with Tra Vinh and Bac Lieu provinces.
Lauding Central Retail’s investment, Bac Lieu Chairman Pham Van Thieu called on the Thai giant to invest more in the Mekong Delta province in all areas that it is strong in.
The high-quality segment in Vietnam’s retail market is still under-invested, the provincial leader emphasized.
In January-September, Central Retail earned post-tax profits of THB5,257 million ($149.8 million), up 25% year-on-year, on global revenues of THB182,784 million ($5.21 billion), up 7%.
In the same period, it reported revenues of THB37,505 million ($1.07 billion) in Vietnam.