Aeon to invest USD180 million in first Myanmar mall
Japanese retail group, Aeon will build a large USD180 million commercial facility in Yangon, marking its first entry into the country. The Aeon Mall shopping complex will be built on a 72,000 sqm site within a 30-minute drive in central Yangon. Construction begins in 2021 and the mall is expected to be ready in 2023. Despite the ongoing pandemic, Aeon president said this would not impact its expansion plans. The investment, approved by the Myanmar government in late July, is a joint venture between Aeon and Shwe Taung Group, a local conglomerate. Aeon leads other big retailers around the world in terms of investments in Southeast Asia. In Cambodia, the company currently operates two outlets and is slated to open a third.