Cambodia gets high-end shopping mall
Japanese mall operator Aeon Co. has started construction on Cambodia’s first high-end, foreign-financed shopping mall at a prime location in the capital Phnom Penh on December 10.
Aeon said in a release that it will invest $200 million into the 100,000-square meters complex that will house at least 150 retail outlets, a cinema wing with a capacity of 1,000 seats and 15,000 square meters of entertainment space.
The mall is scheduled to open in 2014, which will make Aeon the first Japanese retailer to make a foray into Cambodia. Half of the retail units will be occupied by locally established brands, while Japanese brands will account for 30 per cent and other international brands 20 per cent.
The mall is expected to create 2,000 jobs, Motoya Okada, president and CEO of Aeon Group, was reported as saying at the groundbreaking ceremony by Japanese media. He added that Aeon is considering to open more malls in Cambodia.
Japanese foreign direct investment in Cambodia reached $75 million last year, up from about $35 million in 2010, while the Japanese government has promised an additional $242 million to fund several infrastructure projects. With the construction of the Aeon mall, Japanese investments in Cambodia are expected to reach $300 million by the end of this year.
Apart from Aeon, Malaysia’s Parkson Group has started construction on a shopping center in Phnom Penh.
Japanese mall operator Aeon Co. has started construction on Cambodia's first high-end, foreign-financed shopping mall at a prime location in the capital Phnom Penh on December 10. Aeon said in a release that it will invest $200 million into the 100,000-square meters complex that will house at least 150 retail outlets, a cinema wing with a capacity of 1,000 seats and 15,000 square meters of entertainment space. The mall is scheduled to open in 2014, which will make Aeon the first Japanese retailer to make a foray into Cambodia. Half of the retail units will be occupied by locally established...
Japanese mall operator Aeon Co. has started construction on Cambodia’s first high-end, foreign-financed shopping mall at a prime location in the capital Phnom Penh on December 10.
Aeon said in a release that it will invest $200 million into the 100,000-square meters complex that will house at least 150 retail outlets, a cinema wing with a capacity of 1,000 seats and 15,000 square meters of entertainment space.
The mall is scheduled to open in 2014, which will make Aeon the first Japanese retailer to make a foray into Cambodia. Half of the retail units will be occupied by locally established brands, while Japanese brands will account for 30 per cent and other international brands 20 per cent.
The mall is expected to create 2,000 jobs, Motoya Okada, president and CEO of Aeon Group, was reported as saying at the groundbreaking ceremony by Japanese media. He added that Aeon is considering to open more malls in Cambodia.
Japanese foreign direct investment in Cambodia reached $75 million last year, up from about $35 million in 2010, while the Japanese government has promised an additional $242 million to fund several infrastructure projects. With the construction of the Aeon mall, Japanese investments in Cambodia are expected to reach $300 million by the end of this year.
Apart from Aeon, Malaysia’s Parkson Group has started construction on a shopping center in Phnom Penh.
