On August 2nd, Toshin Development, the real estate arm of Japan’s Takashimaya Group, officially inaugurated the construction of the Westlake Square Hanoi project. This mixed-use development, located on lot C1CC1 in the Tay Ho Tay new urban area, will comprise retail and office spaces.
Westlake Square Hanoi marks the first presence of Takashimaya Department Store in Hanoi, one of the oldest and most prestigious department store brands in Japan.
With a total floor area of approximately 43,000 square meters, the first phase of Westlake Square Hanoi will include a commercial center from basement level B1 to the 6th floor, along with premium office spaces from the 7th to the 10th floors.
The project is expected to be completed by 2027. Once operational, Westlake Square Hanoi is anticipated to enhance the retail offerings in the Tay Ho Tay area while providing additional shopping and working spaces in the capital city.
In the same vicinity, on July 16th, the construction of a commercial center and shopping mall in the central area of the Tay Ho Tay new urban area (Starlake) officially commenced. The project, named Thiso Mall Tay Ho Tay, is located on lot B1-CC1-2.
This commercial center is invested in by Dai Quang Minh Company (Thadico), a subsidiary of Thaco Group. With a construction area of nearly 24,000 square meters, the project encompasses 5 floors above ground and 3 basement levels, offering a total floor area of over 52,000 square meters.
Thiso Mall Tay Ho Tay is the first Thiso Mall in Hanoi and the third commercial center invested by Dai Quang Minh Company, following Thiso Mall Truong Chinh – Phan Huy Ich and Thiso Mall Sala in Ho Chi Minh City.
The project is expected to be completed by 2026.
According to sources, Thiso is owned by Tran Ba Duong, a billionaire and the owner of Thaco Group. The company operates and manages real estate properties following the “one-stop-shop” model, including complex projects such as Thiso Complex (large-scale), Thiso Center (medium-scale), and Thiso Mall (mid-range and high-end).
Thiso also ventures into retail business under the brand name Thiso Retail (Emart Vietnam) and engages in various other commercial and service activities through joint ventures, partnerships, and independent businesses.
As per the development orientation published on Thaco’s website, Thiso has outlined a strategy for system expansion from 2025 to 2027, with a total of 14 key projects, 15 Emart hypermarkets, and 7 new-generation Thiskyhall conference and event centers to be operational nationwide.
In 2025, apart from developing the first Thiso Mall in Hanoi, Thiso will simultaneously expand its market presence to the satellite cities of Ho Chi Minh City, Bien Hoa, and Can Tho.
The arrival of Thiso Mall and Westlake Square Hanoi in the Tay Ho Tay area of Hanoi is expected to boost commercial attractiveness, attract businesses, and elevate the value of the entire region.
Le Le
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