Monday, August 27, 2007

Thai mall operator to build shopping complex in Vietnam.


27/Aug/2007 Intellasia | Thanh Nien | The Nation
Aug 27, 2007 - 7:06:00 AM


Thailand's biggest mall operator announced Friday it was finalising a joint venture with a local partner to develop a shopping complex in Vietnam. Central Pattana (CPN) said the Hanoi or HCM City complex, with 80-100,000 square metres of retail space, will be its first foreign foray. Construction would begin early next year and the complex will open by 2010.
If successful, the project “will become the model for developing retail complexes in other markets," said Naparat Sriwanvit, CPN vice president for finance. "There is huge potential in the Vietnamese market, as there is no large shopping complex in the country. Vietnam is also enjoying rapid economic development," she said.
CPN chief executive Suthitham Chirathivat said earlier that besides Vietnam, the company was considering doing business in India.