Aeon Co.,Ltd., a wholly-owned subsidiary of Aeon in China, has signed a contract with Beijing Hongtai Jiye Real Estate Development Co., Ltd., a subsidiary of COFCO, to open a Jusco supermarket in Chaoyang Grand Joy City, Beijing.
Chaoyang Grand Joy City is the next comprehensive shopping center that will be opened by COFCO Group in Beijing — following the opening of its Xidan Grand Joy City property. With a planned area of 85,000 square meters and a total construction area of about 230,000 square meters, the new shopping center will integrate shopping, dining, entertainment, and leisure functions. Covering a business area of about 34,000 square meters, Aeon's Jusco supermarket will be the main store in Chaoyang Grand Joy City and it will be formally opened in the first half of 2010.
Since the opening of its first store in Hong Kong, Aeon has established six subsidiary companies in China, managing 39 stores in China and 31 stores in Southeast Asia countries, including Malaysia and Thailand. Its wholly-owned subsidiary in Beijing, Aeon Co.,Ltd., was founded in 2007. Focusing on development in Beijing and Tianjin, Aeon Co.,Ltd. has signed contracts with Zhongguancun International Mall, Beijing and Teda Promenades, Tianjin in addition to its new partnership with Chaoyang Grand Joy City.