Japanese retail giant Aeon has made its first foray into the Indonesian market after opening a 177,0002m shopping mall in Tangerang.
The new facility has been developed and operated by Aeon Mall, a subsidiary of Aeon, in association with AMSL and the local real estate firm Sinar Mas Land, according to the Financial Express.
Over 280 retail stores will operate out of the mall, along with 140 restaurants. Aeon plans to open an additional 20 shopping malls in Indonesia from 2016 onwards, most of which will be in West Java and the Greater Jakarta area.
“The Indonesian market is expected to grow, supported by the significant economic growth and the increasing middle-class,” Motoya Okada, president and group CEO of Aeon, told the Financial Express. “We want to contribute to the economic growth of Indonesia through our retail business.”
Aeon moved to open shopping malls in Vietnam and Cambodia last year, and has established itself as the largest retailer in Malaysia. Adding to its expanding South East Asian empire, Aeon operates over 140 malls in Japan.