VI
The historic handshake
According to statistics from the Ministry of Industry and Trade, the modern retail market share in Vietnam currently accounts for only about 25% of total retail sales. Vietnam is considered one of the 30 most attractive retail markets in the world. The potential of the retail and supermarket industry in Vietnam is undeniable. Therefore, in just the last few years, major retailers from Thailand, Japan, and South Korea have been vying to enter the Vietnamese market. Notable names include Lotte from South Korea, and Takashimaya and Aeon Mall from Japan.
Despite having only three shopping malls in operation, Aeon's business results in Vietnam are quite positive, and Vietnamese customers are already familiar with the brand. "Slow but steady" is the business motto of this Japanese retail giant. Having researched and entered the Vietnamese market since 2008, Aeon took six years to officially open its first Aeon Mall in Ho Chi Minh City. Aeon's reputation is linked to its meticulousness and professional approach down to the smallest detail, especially its strict selection of partners. The group understands that strategic partnerships with local brands will be a leverage to boost Aeon's ability to adapt to the market.
Partnering with BIM Group to create the second Aeon Mall in Hanoi, spanning 9.5 hectares and featuring a parking area capable of accommodating thousands of cars, Aeon clearly demonstrates its ambition and expectations for the Vietnamese market. BIM Group is a diversified conglomerate with businesses operating in many sectors. Its high-quality agricultural products, such as raw and industrial salt, consistently lead the domestic market. BIM Group partners with leading brands like Nestlé, Ajinomoto, and Orsan, and its Ca Na Salt brand is distributed through supermarket chains like Metro, Big C, and Coop Mart nationwide. In the commercial and service sector, BIM Group has gained significant recognition for developing the Elite Fitness Center chain, the tiNiWorld and T-Club entertainment and educational chain, and the Z Pizza restaurant chain. Furthermore, in other areas such as real estate, BIM Group is a leading brand with numerous projects in Quang Ninh, Phu Quoc, and Hanoi. It is also the investor behind a series of landmark projects developed in collaboration with renowned global partners such as Frasers Hospitality, InterContinental Hotels Group, Regent Hotels & Resorts, Hyatt Hotels, and The Ascott Limited.
It can be said that, "choosing wisely," selecting a partner with not only a solid financial foundation but also extensive experience working with international partners, once again demonstrates the Japanese prudence in business. This is also considered a solid basis for the successful development of the Aeon Mall Ha Dong project.
Mr. Le Minh Dung, Deputy General Director of BIM Group and Executive Director of the Resort Real Estate Division, stated: “The groundbreaking ceremony for AEON Mall Ha Dong is a truly memorable milestone. This event not only marks a significant turning point in the successful cooperation between BIM Group and AEON Group but also symbolizes the strong solidarity and cooperation between Japan and Vietnam.”
Changes to the southwestern gateway to the capital.
Whenever developing an urban area or residential zone, it is crucial to ensure criteria related to welfare, social security, and improving the living standards of the residents. Currently, both Ha Dong and Nam Tu Liem districts are experiencing high rates of urbanization with rapidly increasing incomes and living standards. These areas are home to numerous large-scale residential projects, urban zones, and apartment buildings. However, the reality is that despite the growing population, social amenities in these areas have not received sufficient attention. At the very least, a few shopping malls and supermarkets have sprung up, but their scale and quality are generally low.
Therefore, Aeon Mall Ha Dong is expected to contribute to changing the face of the entire area, positively impacting the living standards and entertainment and shopping needs of the people when it opens in 2019.
This will serve as a transit hub between the southwestern area of Hanoi and the central districts, connecting to the expanded ring road system, BRT 01 (Kim Ma - Yen Nghia) and BRT 02 (Hoa Lac - Kim Ma) bus routes, and the Cat Linh - Ha Dong urban railway line. The project will help alleviate traffic and population pressure in the central inner districts and for residents in neighboring districts such as Hoai Duc, Thanh Xuan, and Thanh Tri, making it easier for people to travel to the city center. Furthermore, AEON Mall Ha Dong is expected to create thousands of direct jobs for local workers.
From a real estate analysis perspective, experts believe that it's undeniable that after hypermarkets open, the value of surrounding real estate increases significantly, sometimes very rapidly. For example, the appeal of BigC Thăng Long has attracted many neighboring real estate projects. Even when introduced to the market, these projects use the distance to BigC as a competitive advantage. The Aeon Mall Hà Đông project is also expected to do the same, contributing to improving the education and social welfare of the area. This also demonstrates BIM Group's dedication and commitment to linking business interests with community interests, pursuing sustainable values to create lasting, differentiated value.
Ngoc Anh - Dung
