Aeon to build first trade center in Vietnam

March 03, 2012 | 15:27

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Aeon Vietnam JSC, an affiliate of the Japan’s leading retailer Aeon Co Ltd, yesterday announced the construction project of its very first trade center in Vietnam, which will be built in Ho Chi Minh City’s Tan Phu District.

The $109-million project, namely Aeon-Tan Phu Celadon, will begin construction this September, and set to reach completion by early 2014, said Aeon Vietnam CEO Nishitohge Yasuo.

As much as 90 percent of the goods on sale inside the center will be domestically sourced, and the remaining are imports from Japan, and other countries, he added.

Last November, Nagahisa Oyama, CEO of Aeon Co Ltd, told the Saigon Times that Aeon has plans to develop an extensive network including at least seven shopping centers in Vietnam, with the Aeon-Tan Phu Celadon being the inaugural one.

In related news, the People’s Committee of the southern province of Binh Duong yesterday granted license to the Becamex Tokyu Co Ltd to begin construction on the Tokyu Binh Duong urban project.

Becamex Tokyu, a joint venture between Binh Duong-based Becamex IDC Corporation and Japan’s Tokyu Group, will set up a world-class trade center-services-housing-entertaining complex in the Binh Duong industry-service-urban complex.

Becamex Tokyu has broken ground on the project, which will span around 714,500 square meters, with a total investment of $1.2 billion.