Aeon Malaysia will build two new malls this year, at a cost of 450 million Ringgit (US$121 million).
Aeon Malaysia currently has 23 malls across the country, 29 Aeon hypermarkets and four smaller stores branded MaxValu.
The two new centres will be built in Klebang in Perak and in Shah Alam in Selangor, part of greater Kuala Lumpur.
“This has always been part of our expansion plan here,” explained Aeon Malaysia MD Nur Qamarina Chew.
“Malaysia has shown resilient growth despite the ongoing economic challenges.”
The company targets middle- and upper-income segments of Malaysian consumers, including the expat community.
In a separate move, Aeon Malaysia will undertake a rebranding of its portfolio as it positions itself as ‘the primary retail lifestyle hub’ in the country.
A budget of 8 million Ringgit ($2.1 million) has been set aside to rebrand the shopping centres Aeon Mall and adopt the tagline “Do Mall”.
The company says it will work to create new activities and events at its malls throughout the year to encourage the perception of lifestyle rather than just a destination to go shopping.
“We celebrated our 30th anniversary in Malaysia last year and it is time to rebrand Aeon as a lifestyle destination rather than just a shopping centre as we begin our new decade here,” said Chew.
“We also think the timing is idea with this rebranding exercise, given the ongoing economic challenges and the new GST, as we would like our customers to spend more time with us for leisure purposes and not just for shopping.”
