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The agreement was signed on May 29 in Ho Chi Minh City, marking the beginning of cooperation between the property developer and one of the country's largest retail operators.
Under the partnership, the two sides will jointly study, invest in, develop, and operate shopping centers and hypermarkets within projects developed by the real estate group. The developments are expected to support urban infrastructure, improve access to retail services, and contribute to local economic growth.
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Representatives of Kim Oanh Group (R) and Central Retail Vietnam (L) sign a strategic partnership to develop modern commercial-service ecosystems in urban areas. Photo courtesy of Kim Oanh Group |
Speaking at the signing ceremony, Olivier Bernard R. Langlet, CEO of Central Retail Vietnam, said the retailer has operated in Vietnam since 2012 and currently manages 44 shopping centers and 92 supermarkets across 26 provinces and cities. Its total retail floor area exceeds 1.3 million square meters, while Vietnamese products account for more than 90% of goods sold across its network.
Langlet said the company plans to continue expanding its footprint through the development of GO! shopping centers, hypermarkets, and other retail formats in emerging urban areas and growing residential communities.
According to the partners, several projects are being considered for future cooperation, including The Link City, K-Home Avenue, and K-Home Midtown, along with other developments in the developer's portfolio.
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Olivier Bernard R. Langlet, CEO of Central Retail Vietnam, shares his impression of Kim Oanh Group's scale of development, global aspirations, and humanistic values. Photo courtesy of Kim Oanh Group |
Dang Thi Kim Oanh, chairwoman and CEO of Kim Oanh Group, described the partnership as part of the group's strategy to develop integrated urban townships equipped with essential services and amenities.
She said the developer aims to create mixed-use communities where residents can access housing, education, employment opportunities, retail services, and leisure facilities within a single urban ecosystem.
The group considers shopping centers and supermarkets key components of that strategy, helping improve convenience for residents while supporting the long-term value of urban developments, she added.
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Dang Thi Kim Oanh, chairwoman and CEO of Kim Oanh Group, emphasized that the partnership with Central Retail Vietnam marks a major milestone in the group's multi-industry expansion strategy. Photo courtesy of Kim Oanh Group |
Founded nearly two decades ago, the company has expanded into sectors including construction, property management, hospitality, education, and healthcare alongside its core real estate business.
Central Retail Vietnam is part of Thailand-based Central Retail, a multi-format retail group with operations across Southeast Asia. In Vietnam, the retailer has expanded its presence through supermarkets, shopping centers, and retail brands serving consumers nationwide.
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Conceptual rendering of K-Home Avenue, one of the group's major developments. Photo courtesy of Kim Oanh Group |
Both parties said the partnership is expected to create new business opportunities while contributing to the development of integrated urban areas with expanded commercial and service offerings.
