Thai retail giant approved to build a 1.5ha superstore in Hung Yen

Presently, Central Retail operates over 340 retail stores across 40 provinces in Vietnam, including 77 grocery stores, which consist of 38 GO! hypermarkets and 39 supermarkets.

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The People’s Committee of Hung Yen province recently approved the detailed construction planning project with a scale of 1/500 for the GO! Hung Yen Shopping Center project. The planned area for the GO! Hung Yen Shopping Center is located in Hien Nam ward (Hung Yen city) with a total area of ​​15,847 m2. This includes a two-story commercial center with a construction area of more than 8,600 m2, as well as indoor and outdoor parking areas and other auxiliary facilities.

The specific location of the land plot: It is adjacent to the flower garden behind the martyrs’ memorial monument to the north, Tô Hiệu Street to the south, Chua Đong Street to the east, and the Viettel building and the Department of Finance to the west in Hien Nam ward (Hung Yen city).

The planning organization responsible for the project is the Vietnam – Japan Real Estate Joint Stock Company. Previously, on March 5, this company was also granted permission by the People’s Committee of Hung Yen province to carry out environmental protection activities for the GO! Hung Yen Shopping Center.

According to our research, Vietnam – Japan Real Estate (formerly known as Nhat Thai Nguyen Real Estate JSC) became fully owned by Central Retail in August 2020, with a transaction value of 161 million Thai baht, equivalent to about 123 billion Vietnamese dong.

Central Retail is a subsidiary of Central Group, a Thai conglomerate managed directly by the Chirathivat family. The Chirathivat family is currently ranked 4th among the richest families in Thailand, with an estimated wealth of over 12 billion USD.

The brands managed by Central Retail in the food sector include Central Food Hall, Tops Market, Tops Daily, Tops Superstore, Tops Online, Family Mart, GO!, Mini go!, and Lan Chi supermarket.

In the fashion sector, they manage Central shopping centers, Robinson shopping centers, Supersports, Central Marketing Group (CMG), and Rinascente. For consumer electronics, they have Power Buy, Thai Watsadu, Baan & Beyond, Auto1, vFIX, OfficeMate, B2S, meb e-books, and Nguyen Kim.

Finally, in the real estate management sector, they have retail units such as Robinson Lifestyle and Tops Plaza in Thailand, as well as GO! (Big C) supermarkets in Vietnam.

According to Central Retail’s Q2/2023 financial report, the Vietnamese market generated THB 25,879 million (over VND 17,000 billion) in revenue for the group in the first half of the year. In 2022, Central Retail also led the market with over VND 36,000 billion in revenue, far surpassing its competitors.

Considering Vietnam as a key market, earlier this year, Central Retail announced an investment of USD 1.45 billion over the next 5 years in Vietnam. In the period 2023-2027, the company aims to double the number of stores to 600 and be present in 57 out of 63 provinces and cities in Vietnam. Central Retail also aims to become the leading omnichannel retailer in the food sector and the second-largest player in the real estate sector – shopping centers in Vietnam by 2027.

Currently, Central Retail operates over 340 retail stores in more than 40 provinces and cities in Vietnam, including 77 food retail stores, including 38 GO! supermarkets and 39 hypermarkets. Additionally, there are more than 200 non-food retail stores and 39 GO! Malls shopping centers.

SOURCEcafef
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