Vietnamese firm aims to launch $50 mln Aeon Mall in Hai Duong province
Hai Duong-based Tuan Kiet HD, a partner of Japanese retail giant Aeon, plans to complete construction and open an Aeon Mall in the northern Vietnam province in the first quarter of 2026.
The company received in-principle approval this January for a 3.6-hectare Aeon mall with an investment of VND1,220 billion ($50 million).
The approval followed a memorandum of understanding on building the mall signed by Aeon Vietnam, a subsidiary of the Japanese firm, and Hai Duong authorities in December 2022; and an agreement between Tuan Kiet HD and Aeon Vietnam signed in March 2023.
Designated location for an Aeon mall in Hai Duong province, northern Vietnam. Photo courtesy of Tuan Kiet HD.
The firm aims to complete site clearance for the project in Q4/2024, build the facility in 2025 and launch it in Q1/2026. The project is located in Lien Hong commune, Thach Khoi ward, Hai Duong town, a prime location.
Design of the Aeon mall to be built in Hai Duong province, northern Vietnam. Photo courtesy of Tuan Kiet HD.
To date, there are seven Aeon outlets in Vietnam: two each in Hanoi and Ho Chi Minh City; and one each in the southern province of Binh Duong, the northern city of Hai Phong, and the central province of Thua Thien Hue. Of these, the latest to open is in Thua Thien Hue.
The Japanese retailer typically collaborates with local firms in Vietnam to build malls per the Aeon model.
In January 2024, Aeon Vietnam Company Limited and local business Viet Phat Group JSC kicked off construction of a 13-hectare mall with an investment of VND5,200 billion ($214 million).
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.
Aeon Vietnam has also collaborated with Viet Phat to build malls in Dong Nai province and Hai Phong city.
In Hanoi, Aeon Vietnam cooperated with Him Lam Group to build Aeon Mall Long Bien in Long Bien district; and Bim Group to build Aeon Mall Ha Dong in Ha Dong district.
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