Aeon planned to start the construction process this year and expected to open the mall by 2023.
The project is a joint venture between Aeon Mall Co., Ltd and Shwe Taung Real Estate Co., Ltd, the real estate arm of Shwe Taung Group. In the joint-venture company called Aeon Mall Myanmar Co., Ltd, Shwe Taung will hold a 30 percent stake while Aeon Mall holds the rest.
Aeon Mall Myanmar Co., Ltd. will develop the first AEON MALL in Myanmar on a 17.632 acre of land at the corner of Shwe Li Road and Ayeyarwun Road, Dagon Seikkan Township, Yangon. The 5-story shopping mall will have a gross floor area of about 1.2 million square feet and 2,300 parking lots.