The ground has been broken on Aeon’s first shopping mall in Cambodia.

Aeon, the first Japanese retailer to enter Cambodian market, says the 100,000 sqm mall is slated for 2014 opening. The mall, which will be one of Cambodia’s largest, will house 150 stores including Japanese and local brands, a 1000-seat cineplex and entertainment and recreation facilities.

Construction is estimated to cost US$200 million.

“We are happy to contribute to the development of the local economy because it will create more than 2000 jobs and we want to stay deeply rooted in Cambodia and we want to be ‘loved the most’,” said Aeon senior executive Motoya Okada.

Cambodia’s expected economic boom is what prompted the company to expand in the country, besides China, Thailand and Malaysia where it has operations.

Wanting to become a dominant player in Asean countries, Aeon plans 19 malls in Indonesia and has four in the pipeline for Vietnam.

“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,” said Akifumi Nakamura, executive GM, Asean division.

The recent acquisition of Carrefour’s Malaysian operations has also made the company more bullish in its regional outlook.

GB