Japan’s Aeon Mall to open shopping complex in Myanmar in 2023
YANGON, NNA – Major Japanese shopping mall operator Aeon Mall Co. will open its first shopping mall in Myanmar as it expects growing consumer demand in the emerging market of 54 million people, Kyodo News reported.
The Japanese company will form a joint venture with local conglomerate Shwe Taung Group of Co. to start construction of the commercial complex in Yangon as early as the end of this year. The Myanmar Investment Commission said it approved the $180 million project.
In 2016, Aeon Co., the parent firm of the mall developer and operator, tapped into a supermarket business in the Southeast Asian country by partnering with Creation Myanmar Group of Companies, a local retail group. It also runs an installment sales business there.
Aeon Mall currently operates a total of nine shopping mall complexes in Cambodia, Indonesia and Vietnam in Southeast Asia.