Developing in new markets


0129mall.gifGrowth in the shopping center industry may be slowing in most traditional markets, but some companies are finding new areas to develop.

ECC group is one of those companies. The Netherlands-based developer has just announced two new overseas developments: Promenada@ Canary in Bihn Duong, Vietnam, and another in Chiang Mai, Thailand. These new developments are the developer’s sixth and seventh overseas projects.

From an article discussing the announcement:

“Located on 82,000sq.m in front of the Viet Nam-Singapore Industrial Park in Thuan An District, some 17km from downtown HCM City, the complex is a joint venture between ECC and Guocoland Viet Nam, a real estate developer from Singapore.

ECC Group will contribute 80 per cent and Guocoland the remaining 20 per cent of the joint venture’s registered capital of US$33 million.

Promenada @ Canary says it will offer an innovative mix of international and local fashion brands, food and beverage concepts, as well as leisure and entertainment.

The project’s first phase is expected to be completed in the 3rd quarter of 2011 and the second phase, in late 2012.”


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