Yet another luxury shopping mall is slated for Bangkok, with Japanese retail giant Aeon announcing plans to develop its first mega-mall, projected to open in 2018.

Aeon Thailand says it will invest ฿10 billion (US$280 million) in the country over the next five years, including the mega-mall, various speciality stores and 10 new MaxValu supermarkets, reports the Bangkok Post.

Meanwhile, the group has yet to find a site for the ฿6 billion (US$170 million) mega-mall, which will have between 200,000 and 300,000 sqm of retail space.

Aeon MD Masamitsu Ikuta says the complex will have the same image as the company’s malls in Japan.

“We want it to be able to compete with inner-city retail megaprojects like CentralWorld, Siam Paragon and The Emporium.”

This competition is becoming more formidable with The Mall Group’s emerging EM District. Alongside the established Emporium is the relatively new EmQuartier, soon to be joined by EM Sphere at Phrom Phong BTS Station. When complete, EM District will feature more than 1000 Thai and international brands.