AVP logo × AEON logo
40ha Xuân Lộc Agri-PV Strategic Proposal
v1.0 working draft · 2026
Strategic investment proposal — prepared for AEONMALL Vietnam

A 40-hectare gateway,
built for AEON's southern supply chain.

A clean agricultural feedstock zone combining Agri-PV renewable energy and an experience farm, on a 40-hectare site near Bảo Chánh station, Xuân Lộc, Đồng Nai — anchored to the AEON MALL Trấn Biên opening.

Choose a chapter · arrow keys to navigate
Opportunity & Location
Strategic Fit & Development Model
Roadmap, Risk & Next Steps
01 · Opportunity & Location

A strategic feedstock zone for AEON's southern network

This proposal offers AEONMALL Vietnam a partnership: developing a 40-hectare site at Bảo Chánh station (Xuân Phú – Xuân Lộc, Đồng Nai) into a strategic clean-agriculture feedstock zone for AEON's southern system — with AEON MALL Trấn Biên as the first destination.

AEON MALL Trấn Biên — the anchor
100,994 m²
land handed over, Trấn Biên ward, Jan 2026
6,000bn+ VND
total investment (~US$261M)
2073
land-use term
~10M/yr
visitors targeted, phase 1 from 2027
Four advantages rarely found together
  • Basalt red soil of the Xuân Lộc – Long Khánh fruit belt
  • Four transport modes — QL1A, Phan Thiết–Dầu Giây expressway, Bắc–Nam railway (Bảo Chánh station on-site), provincial roads ĐT.763/ĐT.772
  • VietGAP-standardized agricultural workforce from a model new-rural-development area
  • Ready energy infrastructure — an adjacent operating solar farm, and a 110kV line energized March 2026

A third value layer: the Núi Chứa Chan – Hồ Núi Le eco-tourism resort (VND 18,000bn+, land handed over Jan 2026, construction started Q1 2026) sits ~15 minutes away. The large tourist flow forming over the next 3–5 years supports an experience farm tied to AEON's own customer ecosystem, alongside produce and clean energy.

Four partnership options are proposed, from an offtake contract (near-zero risk to AEON) to a full Agri-PV + experience-farm model — see Slide 7. All distance, timing and financial figures in this proposal are preliminary estimates, to be replaced by actual measurements per the 90-day survey plan (Slide 12).

02 · Opportunity & Location

On the map, on the rail line, on the highway

Identification pointBùi Gia Trang 1 – Thanh Long Ruột Đỏ, Xuân Phú, Đồng Nai
Coordinates / Plus Code10.9352253, 107.3244713 · W8PF+3Q
Working size39–40 ha — final figure to be confirmed by cadastral records and on-site boundary survey
Access pointsĐT.763 / ĐT.772 · Bảo Chánh station (Bắc–Nam railway) · QL1A via Gia Ray – Long Khánh
Site pin: 10.9352253, 107.3244713 · Plus Code W8PF+3Q — Bảo Chánh station area, Xuân Phú, Xuân Lộc, Đồng Nai.
Regional connectivity
  • ~8–10 km to Gia Ray town center
  • ~95 km to Ho Chi Minh City
  • ~65–70 km to AEON MALL Trấn Biên (map estimate) — roughly 2 hours by refrigerated truck, enabling same-day fresh delivery
  • Phan Thiết – Dầu Giây expressway brings goods to HCMC in under 2 hours
  • Long Thành International Airport (~77 km), required to reach commercial operation in 2026 — a future air-export channel for high-value produce

Distance and time will be measured on the actual refrigerated-truck route (load, peak hours, rainy season) during the joint survey, before entering the financial model. Having road, expressway and rail simultaneously keeps transport-disruption risk close to zero for AEON's domestic supply chain.

03 · Opportunity & Location

Already farmed, already wired for power

Field survey — July 2026
  • Low-lying area along the access road: rice cultivation with an irrigation-canal network
  • Higher basalt red-soil area further inside: suited to perennial crops
  • Existing diverse cultivation — an operating dragon-fruit (thanh long ruột đỏ) orchard plus row crops on relatively contiguous large plots
  • Power lines already run into the production area — a precondition for automated irrigation, primary processing and rooftop solar
  • Access road is unpaved but already carries heavy container trucks; some low-lying sections pond after rain — grading, elevation survey and drainage design are in the 90-day plan
  • Adjacent to an operating solar farm — confirms local grid-connection readiness and a local precedent for combined land/energy use
Natural conditions
  • Tropical monsoon climate, high sunshine hours year-round
  • Groundwater in the basalt belt at just 25–30m depth, good quality
  • Well-invested regional irrigation — Núi Le and Gia Măng reservoirs, improved field canals
  • ~82% of the Xuân Lộc workforce is trained, already familiar with VietGAP, greenhouses and automated irrigation
Rice paddy and irrigation canal on the site
Rice paddy, low-lying zone
Field survey, July 2026
Row crops fed by an active irrigation canal, power line in background
Active irrigation canal
Field survey, July 2026

Full field-survey photo/video set: Slide 11 (Appendix A).

04 · Opportunity & Location

Four forces lifting the region, at once

AEON MALL Trấn Biên
Decision 20/QĐ-UBND · Jan 6, 2026
  • 100,994 m² leased in Trấn Biên ward, to 2073; official name announced Jan 16, 2026
  • Total investment VND 6,000bn+ (~US$261M) — 8 floors, Vietnam's largest AEON MALL
  • Phase 1 operating from 2027, ~10M visitors/year targeted
The anchor timing for this entire plan
AEON MALL Trấn Biên, aerial view
AEON MALL Trấn Biên — press photo
Núi Chứa Chan – Hồ Núi Le
Decision 89/QĐ-UBND · Jan 12, 2026
  • VND 18,000bn+ total investment; 1.068M+ m² handed over to the winning bidder
  • Construction started Q1 2026; ~1,500 ha master plan (phase 1: ~107 ha mountain-top zone + 252 ha+ lake-urban zone)
~15 minutes from the site — benefits from the visitor flow without bidding cost
Chứa Chan mountain seen from the site's own banana rows
From the site — field survey, July 2026
Núi Chứa Chan, reference photo
Reference photo — credit: Dân Trí
Hồ Núi Le at dusk, reference photo
Reference photo — provenance unconfirmed
Industry & employment
Ongoing, 2026
  • Xuân Lộc IZ (108 ha) nearly 100% filled; Xuân Hưng IZ (~180 ha) following
  • Đồng Nai has listed 14 priority IZ / tech-zone infrastructure projects for 2026
Rising food demand, and rising labor competition — automation is not optional
Energy & aviation
Energized March 2026
  • Four-circuit 110kV line from Long Khánh 220kV station via the Xuân Lộc–Cẩm Mỹ line — a key eastern grid project, strengthening renewable-energy absorption capacity
  • Long Thành International Airport targeted for 2026 operation
Grid and export-logistics capacity, both landing in the same window
05 · Strategic Fit & Development Model

Three reasons the timing lines up

Right timing

Ready for opening day

Crops planted from Q3 2026 — bananas, papaya, vegetables — reach VietGAP standard in time for shelf placement on AEON MALL Trấn Biên's opening day: a strong local-sourcing message for AEON in a market where it just completed its most important land-legal step.

Right sustainability strategy

A rare Agri-PV story

Produce grown, processed and cold-stored on solar power generated on the farm itself — aligned with AEON Group's value-chain emissions goals. Vietnam's Ministry of Agriculture & Environment and GIZ are running a 2025–2027 Agri-PV pilot program (≥10 pilot models); joint participation brings international technical support.

Right customer ecosystem

A weekend experience farm

With a large tourist flow forming around Chứa Chan – Núi Le, ~2 hours from Biên Hòa, the site suits an experience farm integrated with AEON's loyalty program — a model the Group already runs in Japan. Nearby tourist orchards (Bình Lộc, Bảo Quang) already show meaningfully higher revenue per hectare.

06 · Strategic Fit & Development Model

Forty hectares, three layers of value

40 HA
Total development area Four functional zones · three layers of value
24 ha Specialty fruit
8 ha Short-cycle crops
4 ha Experience
4 ha Infrastructure
60% Specialty fruit zone

High basalt red-soil area. Long-term asset — stable harvest from 2029–2030.

20% Short-cycle crop zone

Near the access road. Early cash flow and AEON supply from Q2 2027.

10% Experience zone

Serves tourist flows and AEON loyalty customers.

10% Infrastructure zone

Processing, cold storage, water infrastructure and rooftop solar.

Reference solar capex ~VND 10–12bn/MWp, typical payback 5–7 years, system life 25+ years. Phase 1 uses rooftop solar on agricultural buildings only — the legal framework is already clear; field-mounted PV expands only in Phase 2, once the "dual-use" agriculture–energy legal framework is issued and the national pilot program shows results. All financial figures here are indicative, to be rebuilt jointly on independent technical survey.

07 · Strategic Fit & Development Model

Four options, rising commitment

CriteriaPA1 · OfftakePA2 · Private labelPA3 · Agri-PVPA4 · Experience
Nature of cooperationLong-term purchase contract by type–volume–price bandPrivate-label line: "Xuân Lộc red-soil fruit — selected for AEON"Feedstock zone run on solar power, renewable cold chainExperience farm integrated with AEON loyalty program
AEON capitalNoneLow (appraisal, packaging, standards)Depends on structure (JV equity possible)Low–medium
Time to resultsQ2 2027 (Biên Hòa opening)Q2 2027–20282027–20292028 (rides the Chứa Chan visitor wave)
Brand / ESG valueLowMediumHighestHigh
Main riskNo deep quality controlDepends on farm capabilityDual-use land legal framework still formingDepends on tourist volume

Recommendation: PA3 and PA4 run in parallel. AEON can start at PA1 to lock in supply for opening day, then upgrade to private label, Agri-PV or the experience farm as results confirm. Given the Chứa Chan – Núi Le mega-project has now formally broken ground, PA4 is raised to run alongside PA3 — a change from the original proposal, reflecting the region's fundamentally shifted visitor outlook.

08 · Strategic Fit & Development Model

Pilot first. Expand only through a decision gate.

The vision is the full 40 hectares, but disbursement is sequenced and controlled.

Pilot plot 2–5 ha, 2–3 SKUs→ Conditional contract / LOI→ Small-scale processing (outsourced cold storage)→ Expand cultivation & solar
Five conditions to close before any major investment decision
Right counterpart — confirmed Fresh Food buyer, ESG/marketing contact, and the correct contracting entity within AEON (AEON Vietnam for retail purchasing; AEONMALL Vietnam for mall-level community partnership)
Right product — SKU, spec, season, weekly volume and delivery point, backed by a written buyer brief
Right pilot plot — soil, water, elevation, buffer zone and legal status pass minimum testing and survey requirements
Right economics — purchase price, Grade-A ratio, shrinkage, cold-chain cost and capex show reasonable returns under a conservative scenario
Right infrastructure & energy — access road, power, drainage and rooftop solar all have a clear feasibility study
09 · Roadmap, Risk & Next Steps

Anchored to two dates that matter

The roadmap is anchored to two milestones: AEON MALL Trấn Biên phase-1 opening (2027) and durian's stable harvest window (from ~2030).

Q3–Q4 2026
Preparation
  • Sign an MOU fixing SKU – volume – standards
  • Complete land-legal clearance (reviewed against Đồng Nai's new planning system, incl. rice-land conversion)
  • Register land-use / growing-area codes; build water-irrigation infrastructure; plant short-cycle crops
Gate → pilot supply ready
2027
AEON Trấn Biên opens
  • Phase-1 opening; short-cycle crop supply begins reaching AEON via the agreed channel
Gate → contract / private-label scale-up decision
2029–2030
Specialty fruit harvest
  • Durian and other specialty fruit reach stable harvest; full economics of the fruit-zone layer become clear
Gate → Agri-PV field-mounted expansion decision
10 · Roadmap, Risk & Next Steps

Every risk, with its mitigation

RiskDescriptionMitigation
Planning under reviewĐồng Nai (now centrally governed) is reviewing and adjusting its entire planning system from mid-2026Verify the plot's zoning immediately in the Preparation phase; proactively register agriculture–energy–experience land-use intent during the review window
Rice-land legalityThe low-lying rice-cultivation portion needs a land-use conversion procedureProcess in Q3–Q4 2026; place short-cycle crops on this land while awaiting conversion
Agri-PV legal frameworkThe "dual-use" agriculture–energy legal framework for field-mounted PV is not yet issuedPhase 1 uses rooftop solar on farm buildings only (framework already clear); Phase 2 follows national pilot results and official guidance
Partner timelineAEON Biên Hòa's operating timeline may shiftShort-cycle crops can sell through other channels (wholesale markets, existing supermarkets) — cash flow doesn't depend on one single date
Labor competitionExisting industrial zones are full, and the new 2026 IZ pipeline will draw labor over the next 5–10 yearsMaximize automation by design (solar-powered auto-irrigation, mechanized processing); retention policy for core staff
Agricultural price volatilityDurian prices move with export marketsA 4–5 product line staggered across seasons; the experience and energy channels diversify price risk
Regional land-price surgeThe VND 18,000bn tourism mega-project will push up land-price expectations around Chứa ChanLock in land-use/lease rights for the 40ha site early, before the price effect spreads
11 · Roadmap, Risk & Next Steps

What the July 2026 survey actually saw

Photo and video documentation covers the low-lying rice area and its canal network, the higher basalt red-soil area, the existing access road, the adjacent solar farm, and the Bảo Chánh station junction. Full original material is archived and available on request.

Perennial-crop rows on the basalt red-soil zone, Chứa Chan mountain on the horizon
Basalt red-soil zone
Perennial-crop rows, Chứa Chan on the horizon
Rice paddy and canal network in the low-lying zone
Rice paddy & canal network
Low-lying zone along the access road
Active irrigation canal feeding row crops, power line overhead
Active irrigation canal
Row crops fed by canal; power line overhead
Site access road with existing power poles, Chứa Chan in the distance
Site access road
Existing power line; Chứa Chan in the distance
Recently cleared plot with drip-irrigation lines and a grid connection point already in place
Recently cleared plot
Drip lines & grid connection already in place
Open low-lying field crossed by an existing power pole
Open low-lying plot
Flat field crossed by an existing power line

Six of the July 2026 field-survey photos above; solar-farm and Bảo Chánh station angles are still being selected and will be added in the next material update. Full original photo/video set is archived and available on request.

12 · Roadmap, Risk & Next Steps

Ninety days to replace estimates with measurements

Days 0–30

Confirm baseline data

Boundary and per-plot legal review; elevation–drainage survey; geo-tagged soil/water sampling; truck-route timing; map existing power lines and structures; review against Đồng Nai's new planning system.

Days 31–60

Lock the market question

Workshop with AEON's Fresh Food / private-label / sustainability-marketing teams; obtain buyer brief; select 2–3 SKUs and the 2–5ha pilot plot; confirm the contracting entity for each component.

Days 61–90

Design the pilot & decide

Pilot budget; VietGAP SOP and traceability; cold-chain logistics model with delivered cost; rooftop-solar feasibility study; draft conditional MOU/LOI; three-scenario financial model.

Field survey checklist (Appendix C.1)
Boundary, area, landholder, land classification, tenure term and zoning per plot; contiguity of the land bank
Elevation, drainage flow, flood-prone points, existing canals, water source and reservoir needs
Geo-tagged soil/water samples — pH, organic matter, nutrients, heavy metals, microbial load, residues; crop/fertilizer/pesticide history
Road width and load capacity, bridges/culverts, turning points; refrigerated-truck timing in rainy vs. dry season to Trấn Biên ward
Power source, capacity, line ownership, connection points; candidate structures for rooftop solar
Existing crops (including the dragon-fruit orchard) — age, health, yield, pest status, and whether to retain them
Labor, cooperatives, local contractors, testing labs, cold storage and the nearest transporters
360° photos, aerial survey (if permitted), access-road diagrams, and a unified survey log
13 · Roadmap, Risk & Next Steps

Four actions to start the clock

Joint survey & counterpart confirmation — a joint field visit in Q3 2026 with AEON Vietnam's Fresh Food procurement team, the private-label team, and AEONMALL Vietnam's sustainability/marketing team; combined with an actual refrigerated-truck route timing to Trấn Biên ward
MOU framework from a buyer brief — exchange an MOU framework for 2–3 pilot SKUs (type, spec, weekly volume, delivery point, price band, rejection mechanism), aiming for compliant supply from AEON MALL Trấn Biên's phase-1 opening (2027); carries the same opening conditions as the five gates in Slide 8
Agri-PV program engagement — jointly assess participation in the next rounds of the national Agri-PV program (Ministry of Agriculture & Environment × GIZ, 2025–2027) for international technical support
Financial model — build a detailed joint financial model based on independent technical survey (soil, water, power connection, cold-chain logistics)

"The confluence of Xuân Lộc's basalt red soil, four-mode transport infrastructure, the region's tourism–industrial investment wave, and AEON Group's sustainability strategy creates a partnership opportunity with a low risk structure and a high brand-value margin."

Source: AEONMALL Vietnam press release (Jan 16, 2026); Đồng Nai People's Committee Decisions No. 20/QĐ-UBND (Jan 6, 2026) and No. 89/QĐ-UBND (Jan 12, 2026); Ministry of Agriculture & Environment / GIZ Agri-PV program (2025–2027); Decree 135/2024/NĐ-CP on self-generation/self-consumption rooftop solar; Đồng Nai provincial data portal and domestic economic press (Dec 2025 – Jul 2026). Solar capex, payback period and Agri-PV performance figures are market references requiring independent verification.