Japanese department store chain Takashimaya is set to open a US$12.9 million shopping centre in Hanoi by 2026, which will mark its first new overseas location since 2018.
The company’s subsidiary, Toshin Development, has already started work on a mixed-use complex in the Vietnamese capital, Nikkei reported, citing Takashimaya president Yoshio Murata.
The project will include a department store with 10,000sqm of sales space, as well as space for housing, offices and commercial tenants. The company is considering bringing in Japanese tenants to sell such items as food, cosmetics and children’s clothing.
This will be Takashimaya’s first location in Hanoi and second location in Vietnam, in addition to the one at Saigon Center in Ho Chi Minh City, which opened in 2016.
The chain aims to double its operating profit and dividend income in Vietnam to $28.4 million by early 2027.
Takashimaya’s most recent overseas location was opened in Bangkok in 2018 at the IconSiam shopping centre, which was its fifth department store in Southeast Asia and China combined.
