South Korea’s Hyundai Engineering Co. won a $120 million deal from a Japanese retail giant Aeon Co. to build a shopping mall in the Kingdom of Cambodia, a deal that is expected to help the Korean engineering company that has been focusing on plant construction diversify its business portfolio.
According to the company Monday, it inked a contract with Aeon and its shopping mall developer unit Aeon Mall Co. last Friday to construct its second shopping mall in Cambodia for $120 million.
Under the deal, the Korean builder will construct a four-story mall covering a 151,000-square-meter (㎡) floor area in the Pong Peay City Project site in Phnom Penh, Cambodia. The mall will house a big-box store, a movie theater, bowling alleys and small shops and other amenities, and its construction is expected to be completed by May 2018.
An unnamed official at Hyundai Engineering said the Korean company will actively bid for additional shopping malls that the Japanese developer is planning to build in China, Indonesia and Vietnam.