Japanese retailer Aeon is set to open its first mall in central Vietnam and its seventh in the country in September 2024 in Thua Thien Hue province.
During a recent site visit, the Vice Chairman of Thua Thien Hue province was briefed on the project’s progress by the project’s contractors. He commended the advancement of the construction and urged local authorities to assist investors with tasks related to fire safety, shop licensing, and other necessary procedures.
The mall, named Aeon Mall Hue, began construction in February 2023 with an investment of approximately USD 167 million. Located in Hue town and spanning 8.6 hectares, the mall is set to be the largest service and trade center in Vietnam’s central region, enhancing Hue’s appeal as a major tourist destination.
Currently, Aeon operates six malls in Vietnam: two in Hanoi, one in Hai Phong, two in Ho Chi Minh City, and one in Binh Duong province.
In January 2024, Aeon Vietnam, a partnership between Japanese retailer Aeon and local company Viet Phat Group JSC, began building a 13-hectare mall in Quang Ninh province with an investment of USD 214 million. Situated near the renowned tourist spot of Ha Long Bay, the mall is projected to create approximately 2,500 jobs and cater to around 10 million customers annually.
In the first quarter of its fiscal year 2024 (March-May 2024), Aeon reported an operating income of around USD 8.44 million in Vietnam, marking a 21.9% increase from the previous year. The retailer’s operating revenues for the same period were USD 25.42 million, up 13.8% year-on-year.
(Source: The Investor)
