Nguyen Huu Que, Vice Chairman of the Gia Lai People's Committee, recently presented an investment registration certificate to Viet-Nhat Real Estate JSC. The provincial Department of Finance issued the certificate on September 25.

The company had previously been leased the land by the people's committee through a land-use rights auction to develop the project at 27 Nguyen Van Cu street, Dien Hong ward.

Viet-Nhat Real Estate was established on August 18, 2014, with its headquarters at 222 Tran Duy Hung street in Yen Hoa ward, Hanoi. The company's legal representatives are Jariya Chirathivat, a Thai national and chairwoman of the board; Olivier Bernard R. Langlet, a Belgian national and general director; and Phoom Chirathivat, a Thai national and director.

According to Langlet, CEO of Central Retail Vietnam and Viet-Nhat Real Estate, Central Retail, which entered the Vietnamese market in 2012, has invested about $1.5 billion in the country. The group now operates a retail network comprising 43 GO! hypermarkets, 48 supermarkets and more than 330 food and non-food retail stores across 26 of Vietnam's 34 provinces and cities.

Central Retail focuses on two main formats: GO! hypermarkets in medium-sized and large cities, and GO! stores in smaller cities, rural and suburban areas, combining shopping with children's entertainment and food services.

In Gia Lai, Central Retail currently operates two outlets, GO! Quy Nhon and GO! An Nhon, with combined investment of $16.54 million. The stores have contributed more than $563,000 to the state budget and created jobs for more than 200 local workers.

Project expected to boost trade in Pleiku

The GO! Pleiku shopping mall will cover nearly 1.48 hectares, with total investment of more than VND602.5 billion ($23.18 million). Of this, the investor's equity contribution will exceed VND120.5 billion ($4.64 million), while more than VND482 billion will be raised from other sources.

According to the investment documents, the project aims to invest in, build and manage a shopping mall and supermarket complex, with space for shops, kiosks, offices and other commercial activities.

It is designed to combine multiple business formats, including a general merchandise supermarket, specialty stores, branded shops, food outlets, restaurants, cinemas, entertainment facilities and children's play areas.

Under the approved schedule, the company plans to complete the building's shell and interior fit-out and put the project into operation between October 2027 and September 2028. The project will have an operating term of 50 years from the date of the land lease decision.

Gia Lai's Vice Chairman Que said Central Group's investment in a shopping mall in Pleiku signalled continued business interest in western Gia Lai and reflected the province's development strategy for trade, logistics and services.

Following the merger of Gia Lai and Binh Dinh provinces last July to form the new Gia Lai, and the relocation of the new administrative center to Quy Nhon (the capital of the former Binh Dinh province), many residents had been concerned about a slowdown in economic activity in Pleiku and western Gia Lai, Que said.

“But Central Retail's investment in a large, vibrant and modern shopping mall in Pleiku demonstrates the province's commitment to investment across all sectors and areas. I believe this is good news for residents across western Gia Lai and the Pleiku urban area,” Que said, urging the investor to begin construction soon.

Que also noted the province has many products under the One Commune One Product (OCOP) program, including around 20 products rated five-star under the program. He asked Central Retail to consider featuring high-quality OCOP products at its GO! supermarket.