A consortium of Lao and Thai investors is building a shopping and hotel complex in Laos’ largest city, Vientiane as the two nations prepare for the new Asean Economic Community.
The US$290 million project will be built on a 32 hectare site in downtown Vientiane. In the first stage a 37,000 sqm duty free mall will be built with tenancies for 200 brands.
Stage two will include a larger shopping mall, a hotel, theme park and commercial buildings. A logistics and distribution centre is also planned.
The first retail facility – to be called the Laos Duty Free Mall – is under construction already with an opening scheduled for February next year.
Targeting Chinese, Thai and Lao shoppers, the centre is expected to draw about 10,000 customers a day.
The project is being undertaken by BM Group, 51 per cent owned by Lao’s, including coffee and duty free business Dao-Heuang Group, and 49 per cent owned by Thai company Sayam International.
BM Group is also planning four more duty free malls within four years in Laos: in Pakse, Vientiane, Savannakhet and Luang Prabang.