Phnom Penh | Aeon Mall | U/C

[hopeoneday]

Originally Posted by SeeMacau

I think the Aeon Mall in Phnom Penh will end up like those in Malaysia once completed.

What happened with those in Malaysia?

[mrfusion]

Originally Posted by founan

For the construction price tag, , on the last Friday I listened to a report by TVK on a meeting of the Japanese in charge of the mall construction with the Cambodian minister of Land management. From the mouth of the Japanese himself, the Phnom Penh’s Aeon mall construction was estimated at 205 millions US dollars.

Consider the Malaysia wage is 2-3x more then Cambodia, given the same price tag, the Phnom Penh version will probably be more impressive then the Malaysian version.

[MYPHNOMPENH]

I just get it, US$2-Million is for starting only!

This amount is for pay to the official's coffee, cigarette, pattrol, phone credit card...etc

And LOL..... small eat small BIG eat BIG..... this's our current Cambodian culture.

[hopeoneday]

Aeon plans more malls
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Aeon plans more malls
Posted Date: 14/09/2012
By InsideRetail.Asia


Japan's Aeon Group plans to significantly expand its network of malls with new openings in the pipeline across southeast Asia.

The expansion includes 20 malls in Cambodia, 19 in Indonesia and four in Vietnam.

“We see real market potentials for the mall business for respectable entrepreneurs,” said Akifumi Nakamura, executive GM, Asean division.

The expansion is also aimed at gaining a dominant position in key developing markets including Myanmar, Cambodia, Malaysia, Indonesia, Vietnam and China. The company also plans to tap other new markets in the future, says Nakamura.

“Strong economic growth in this region has also sparked positive economic opportunities that to us indicate the dawn of the age of the shopping mall,” he said.

Aeon also has a liaison office in India, and is conducting market research for a possible joint venture there. The Japanese group has been approached by two Indian grocery retail operators interested in a partnership in the country.

Aeon's shopping mall business achieved operating income of 40.8 billion yen (US$511 million), 6.5 per cent up than the previous year, in the year to February.

With the aim of boosting brand recognition, the group adopted the name 'Aeon Mall' for all domestic mall-type shopping centers, while neighborhood shopping centers were uniformly given the name 'Aeon Town'.

GB

[mrfusion]

Originally Posted by hopeoneday

The expansion includes 20 malls in Cambodia, 19 in Indonesia and four in Vietnam.

on what time frame?

20 malls in Cambodia? You got to be kidding.

[AsianDragons]

20 malls the size of neeta city in fairfield maybe

[mrfusion]

Originally Posted by AsianDragons

20 malls the size of neeta city in fairfield maybe

Neeta city is very empty the last few time I visit. Probably similar to Sovanna, the existing "Neeta City size" mall in PP is already over supplied.

Fairfields residence probably all shop in Liverpool.

[SeeMacau]

I assume the 20 malls are including their supermarket chain ''Max Valu'', very popular in Thailand and China. Opened 24 hours

[Asian]

Originally Posted by mrfusion

on what time frame?

20 malls in Cambodia? You got to be kidding.

I think it was a typo. It should have said 20 malls in Malaysia, not in Cambodia.

[hopeoneday]

why do you think it is typo? I don't think so

[mrfusion]

Originally Posted by hopeoneday

why do you think it is typo? I don't think so

Because it doesn't make sense to have plan for malls here, even 20 supermarket would be optimistic.

If the time frame is 40 years from now, then it is too early to say how many anyway.

[Asian]

Originally Posted by hopeoneday

why do you think it is typo? I don't think so

Because I read a newspaper during my visit to Kuala Lumpur. It says there are currently 20 Aeon malls in Malaysia, 19 in Indonesia and four in Vietnam (either under construction or have been finished).


In Phnom Penh, here is the site: http://www.aeonmall.com/en/ir/annual/plan/asean.html



First Aeon Mall ever in Cambodia
Scheduled start of construction: 2012
Scheduled opening: 2014

[camtv03]

2012-09-25 14:39:09 Xinhua Web Editor: haipeng


AEON Mall, a Japan's single- largest shopping mall developer and the largest retailing operator, will invest 200 million U.S. dollars to build a four-storey shopping mall here in December, Cambodian Prime Minister Hun Sen said Tuesday.

"It will be the country's largest modern market and the investment will cost more than 200 million U.S. dollars," he said during a graduation ceremony of students at the National University of Management.

The construction will be begun on December 10, 2012 on the land area of more than 100,000 square meters along the river in the capital's Chamkamon district, he said.

The mall will create between 2,000 and 3,000 jobs.

The premier said the investment reflected Japanese investors' confidence in Cambodia and it will also contribute to promoting the country's tourism sector.

A Japanese senior officer at the AEON Mall-Phnom Penh Branch confirmed Tuesday in a condition of anonymity that the construction will be completed in 2014.

[HarroDom]

Aeon starts building Cambodia mall
Kyodo
PHNOM PENH — Japanese mall operator Aeon Co. broke ground Monday on Cambodia's first foreign-financed mall.

"We are happy to contribute to the development of the local economy because it will create more than 2,000 jobs and we want to stay deeply rooted in Cambodia and we want to be 'loved the most'," senior Aeon executive Motoya Okada said at the ground-breaking ceremony in the capital, Phnom Penh.

The mall is to scheduled to open in 2014, which will make Aeon the first Japanese retailer to make a foray into Cambodia.

The $200 million mall will have about 100,000 sq. meters of floor space, the same as Aeon's malls in Japan, and will house an Aeon store and outlets from Cambodia, its neighbors and Japan.

Prime Minister Hun Sen said at the ground-breaking ceremony that it had been more "time-consuming" for him to convince the Japanese rather than other foreign companies to invest in Cambodia, but that more Japanese firms are investing.

He said Minebea Co. already has a factory in Cambodia making small motors, Aeon is coming and that Yazaki Corp. will be next with an automotive wire harness factory opening next week.

Hun Sen added that political stability and competitive incentives, under which foreign firms can invest 100 percent in all sectors, has proved attractive to overseas investors.

Japan statistics show only 15 companies invested in Cambodia from 1994 to 2009, with total capital of $147 million, but five Japanese companies made investments worth $35 million in 2010 and 19 investments worth $66 million in 2011.

[hopeoneday]

Phnom Penh’s retail industry moved a step closer to joining the ranks of regional centres such as Bangkok and Kuala Lumpur with the groundbreaking of a $205 million mall yesterday.

It is anticipated that globally recognised brands will have outlets in the centre, which will be located along the Tonle Sap river in the capital’s Chamkamon district.

However, Aeon Mall, the Japanese developer building the centre, declined to name specific retailers.

Prime Minister Hun Sen, who was present at the ground-breaking ceremony, said construction of the mall was scheduled to be completed in 2014 and the Japanese company’s decision to invest at this time was a sign of confidence in the Kingdom’s economic and political stability in the lead-up to next year’s general election — a time he said traditionally frightened investors.

“We see the market power,” Hun Sen said. “If there was no real buying power, no one would come to invest in such a big shopping centre,” he added.

“If the buying power of Cambodian people is not big, this company would not think it neccessary to construct a mall over 10 hectares,” he said.

“The land is more than seven hectares, but they will build on over 100,000 metres... Let them do it. They wouldn’t stock their goods here if the people weren’t around to buy them.”

Motoya Okada, president of Aeon, said during a question-and-answer session at yesterday’s press conference that the mall will have three floors.

The first floor will be a shopping centre where foodstuff will be sold, while the second and third floors will stock clothes and general equipment.

Okada also said the company is looking to establish five other shopping malls in different locations in Phnom Penh, but more investment capital needs to be arranged and extact locations have not been targeted.

”From what I can see, the fast growing areas of development are not in the middle of the city but in other urban areas,” he said.

Ear Kim Keang, general director and owner of Young Commercial Center, said the multimillion-dollar shopping mall development would not see success in the short-term.

“Who are the supporters?” he asked. “But I am still happy they invest money in Cambodia; we are happy,” he said. “We don’t dare to compete. We don’t know how because they are very rich.”

He added that everyone needs shopping centres, but the Cambodian economy is still slow and it will not push the mall-goers to buy.

“How much do they in one market? What do Cambodians traditionally need? At this time, Chinese goods are cheap but cannot sell well.”

[hopeoneday]

[kimmy]

So it does not have underground floor? The other local report said 30% of the space will be reserve for Japanese retailer and the rest for the rest

[kimmy]

btw, does the word "AEON' stand for something or mean anything?

[patchay]

AEON has just opened its 21st suburban shopping mall in Malaysia.

The new AEON Seri Manjung in Perak State, a town of less than 250,000 people will be a prelude to upcoming AEONs in Southeast Asia. http://en.wikipedia.org/wiki/Manjung

Meanwhile, Japan AEON & Co. has acquired all 26 Carrefour Malaysia stores and has renamed them as AEON BIG.

So now we have MaxValu, AEON shopping centres, AEON departmental stores and AEON BIG hypermarkets.

[mrfusion]

Originally Posted by kimmy

btw, does the word "AEON' stand for something or mean anything?

The word aeon ( /ˈiːɒn/), also spelt eon or æon, originally means "life", and/or "being", though it then tended to mean "age", "forever" or "for eternity".

http://en.wikipedia.org/wiki/Aeon