The Aeon Vietnam Company Limited (AEON Mall Vietnam) and real estate developer the Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land) recently announced an MoU on developing an AEON Mall shopping center within the TTC Plaza Da Nang project, overseen by TTC Land in central Da Nang city.

TTC Plaza Da Nang, a contemporary multi-story complex, comprises 18 floors featuring four commercial levels (AEON Mall), 126 tourist apartments, 150 hotel rooms, and over 30,000 sq m of office space for lease. This initiative is poised to leverage the strengths of both entities, consolidating the reputations of both TTC Land and Aeon Mall Vietnam.

Speaking at the signing ceremony, Mr. Tetsuyuki Nakagawa, General Director of AEON Mall Vietnam, said that after more than ten years of development in Vietnam, the company is gradually realizing its goal of opening 30 shopping centers. Highlighting celebrations of the 50th anniversary of diplomatic ties between Vietnam and Japan (1973-2023), Mr. Nakagawa said AEON Mall will actively contribute to fostering the positive bilateral relationship by cooperating with TTC Land through a leasing agreement for TTC Plaza Da Nang.

Acknowledging the visionary long-term strategy of Japan’s leading retail conglomerate AEON, Mr. Dang Van Thanh, Chairman of the TTC Group, underscored Vietnam’s place as AEON’s second pivotal market after Japan. This recognition aims to amplify investment endeavors and expand business operations.

“In the backdrop of Vietnam’s gradual economic recovery, I have full confidence that TTC Plaza Da Nang, supported financially by BIDV Bank and managed by Coteccons as the main contractor, along with the partnership of AEON Mall Vietnam, will contribute significantly to the long-term viability of all businesses involved,” Mr. Thanh emphasized.

The project is expected to be completed and operational by the end of 2025. The MoU promises ample opportunities for both parties, offering quality products and services to the local community while propelling sustainable growth and development in Da Nang’s retail market.