Aeon acquires land for $167M mall in central Vietnam

It has bought 10.5 hectares from a local property developer for the Aeon Mall Thanh Hoa.

The development will have five floors in the first phase and a four-floor mall and a seven-floor parking lot in the second.

Aeon needs to complete the first phase within two years of acquiring the land.

Thanh Hoa authorities expect Aeon Mall to help boost consumption of local agriculture produce and eventually export to Japan and other countries.

Aeon has nine malls in Vietnam, most of them in major cities such as Hanoi, Ho Chi Minh City and Hai Phong. It plans to bring the number to 20 eventually.