Vietnam's Sun Group and Thailand's Central Pattana have signed a strategic partnership agreement to develop large-scale retail and mixed-use projects in Vietnam, focusing on key destinations including Da Nang, Ho Chi Minh City and Phu Quoc.
The memorandum of understanding was signed in Bangkok on May 28 during the official visit to Thailand by General Secretary and President To Lam and a high-level Vietnamese delegation.The signing ceremony was attended by senior officials and business representatives from both countries.
The event took place in Thailand in the presence of General Secretary and President To Lam. Photo courtesy of organizers
Under the agreement, the two companies will collaborate on a long-term strategy to develop premium shopping centers and integrated lifestyle complexes in major urban and tourism markets across Vietnam.According to the companies, the partnership aims to introduce a new generation of retail-led developments combining shopping, entertainment, hospitality and cultural experiences.Central Pattana is one of Central Group's principal growth engines, leading the Group's retailled real estate and urban development platform across Thailand, owning and operating a portfolio of retail and lifestyle destinations across the region, encompassing 45 shopping centers, 53 residential projects, 11 office buildings, 13 hotels, and 16 community malls.Its flagship asset, centralwOrld Bangkok, one of Asia's leading shopping destinations and world-class lifestyle landmarks in the heart of Bangkok stands as a benchmark for how retail destinations can evolve into cultural, entertainment, and tourism landmarks, significantly extending visitor dwell time and driving per-capita spending.
