Aeon, the largest retail corporation in Asia, is planning for a second Hanoi mall to open in Ha Dong district.
Heavy investments in Vietnam
Aeon opened two malls in Vietnam in 2014, and one each in 2015 and 2016. The retailer is now planning a fifth mall in the west of Hanoi in 2019. Ha Dong district is receiving investments in an extended ring road system, a bus rapid transport system connecting to downtown Hanoi and an urban railway line. The area is also known to have one of the fastest growing population in Hanoi, with new housing development projects being built. The retailer will invest USD 200m in the new mall as part of its overseas expansion.
Aggressive expansion outside Japan
Aeon has a network of around 300 consolidated subsidiaries ranging from convenience store chains and supermarkets to shopping malls and speciality stores. Under its 2020 strategy, it will add three more malls in Ho Chi Minh City. Outside Vietnam, the company is also running shopping malls in Malaysia, Cambodia and Indonesia. It is looking at the feasibility of new developments in Thailand, Laos and Myanmar.
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