German-invested wholesale store chain operator Metro Cash & Carry on Thursday signed a principle agreement to lease a part of Melinh Plaza Ha Dong project in the capital city of Hanoi to open a Metro wholesale center.
German-invested wholesale store chain operator Metro Cash & Carry on Thursday signed a principle agreement to lease a part of Melinh Plaza Ha Dong project in the capital city of Hanoi to open a Metro wholesale center.
Under the contract, Metro Cash & Carry Vietnam Co., Ltd, a subsidiary of Metro, will manage and operate a part of the plaza which will be developed by T&M Vietnam Investment Joint Stock Co., for duration of 40 years.
The wholesaler will lease the entire first floor with 5,000 square meters and a part of the second floor of the five-storey Melinh Plaza Ha Dong to do business and open offices.
The Plaza with more than 55,000 square meters excluding a basement in Ha Dong District is planned as a new administrative center of the district, in which Hanoi Government is developing major projects. This will be the second wholesale center in Hanoi of the German firm, after its first one, Metro Cash & Carry Thang Long, opened in 2003.
Metro Cash & Carry opened its first wholesale center in Vietnam in 2002. Up to now, the company is operating 13 centers in HCMC, Hanoi, Haiphong, Danang, Can Tho, Bien Hoa of Dong Nai, Long Xuyen of An Giang, Quy Nhon of Binh Dinh, Binh Duong, and Vung Tau; and two distribution platforms in Binh Duong and Lam Dong.
The company has invested more than US$200 million in the country.
The developer of Melinh Plaza Ha Dong, T&M Vietnam Investment Joint Stock Company belongs to Eurowindow Holdings.
(Source: SGT)
