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Bangkok Retail – Aeon Plan B6bn Shopping Complex

By on Jan 14, 2016 in Property News, Retail

Bangkok retail sector continues to be attractive. Aeon (Thailand) will compete head on with Central Group and The Mall Group, claiming it will develop its 1st megaproject in Central Bangkok as part of a 10 billion baht investment in Thailand over the next few years. The change in Aeon comes after its Japanese parent company set out their plan to expand its retail business in Asean region.

Aeon is looking to develop 3 major retail models – MaxValu supermarkets, a megaproject and speciality stores.  The plan is to open 3 MaxValu supermarkets in 2016 and reach 130 MaxValu stores by 2020.

Aeon plans to build its megaproject in Bangkok in the next few years. The project will have retail space of 200,000 to 300,000 square metres with an investment required of 6 billion baht. Currently Aeon is seeking a suitable plot of land.

Some of the funds for business expansion will come from listing the company on the Thailand Stock Exchange in 2020. From the aggressive plans in Thailand the company expects supermarket sales of Aeon in this country will reach 20 billion baht in 2020. This is almost triple last year’s sales.

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Source: Bangkok Post 5th Jan 2016

 

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