Japanese leading retailer Aeon’s plan for its sixth mega mall in Vietnam and the third in Hanoi, set to be located in Hoang Mai district, is gathering pace after Prime Minister Nguyen Xuan Phuc agreed to the revision of the master plan for a land plot in the district.

Aeon Mall Ha Dong, Hanoi.

The land plot, covering an area of over six hectares in Dai Kim and Thinh Liet wards, would be reorganized under the transit-oriented development (TOD) model, which is connected with the urban railway route No.1, the national railway, and Giap Bat bus station.

Following the PM’s decision, the Hanoi People’s Committee would consider issuing the construction permit for the Aeon Mall Hoang Mai and parking lot project, located right behind Giap Bat bus station.

At a meeting with Secretary of the Hanoi Party Committee Vuong Dinh Hue on May 19, General Director of Japan-based Aeon Mall Vietnam Tetsuyuki Nakagawa revealed the group’s plan to invest in a shopping mall and a parking lot in the vicinity of Giap Bat bus station, stressing this would be Aeon’s largest investment project to date in Vietnam with investment capital of US$280.7 million.

Notably, this would also be the tallest shopping mall in Vietnam with a height of 65 meters.

On June 27 at the “Hanoi 2020 – Investment and Development Cooperation”, the local authorities issued investment license for the Aeon Mall Hoang Mai project.

CEO of Aeon Mall Vietnam Iwamura Yasutsugu told Prime Minister Nguyen Xuan Phuc in February the Japanese retailer plans to invest US$2 billion in Vietnam to realize the target of having 25 shopping malls in the country by 2025.

It also targets to sell Vietnamese goods and products worth US$500 million through its global distribution network in 2020, and around US$1 billion by 2025.