The BRG Group and Sanrio Wave Hong Kong, which owns the world famous Hello Kitty character, signed a memorandum of understanding (MoU) on October 21 to develop the Hello Kitty Park in Hanoi, the first internationally-branded park in Vietnam.

The project is expected to begin in the fourth quarter of 2018 but BRG has not released any specific information.

Hello Kitty Park will provide fans living in Vietnam with the opportunity to experience first-hand the premium quality of the BRG Group’s range of products and services. In addition to the Hello Kitty character, other popular characters among children such as My Melody, PomPomPurin, Cinnamoroll, Bad Badtz-Maru, and Kerokerokeroppi are also expected to be featured at the park.

At the signing ceremony, Ms. Nguyen Thi Nga, Chairwoman of the BRG Group, said that its cooperative efforts with Sanrio Wave are directed at the development of a unique, creative entertainment market, meeting demand among children.

The cooperation is regarded as an important milestone, marking a transformation in Vietnam’s children’s entertainment market.

The demand for high-end entertainment services has increased but supply has remained limited. There are still no world-class entertainment venues such as Universal Studios or Disneyland in Vietnam, while other countries in the region, such as Singapore, Hong Kong, Malaysia, and Thailand are seeing rising investment in attracting local and international leisure groups.

According to the Vietnam Tourism Association, every year there are approximately 5 million Vietnamese traveling abroad, spending about $6 billion. In 2012 the figure was only $3.5 billion. This shows greater demand for high-end entertainment services in the country while existing supply has been weak and inadequate.

Sanrio Wave owns various famous characters, including Hello Kitty, which has millions of fans of all ages. It currently owns over 50,000 branded products in more than 70 countries around the world.

Established in 1993, the BRG Group is a multi-sector economic group of domestic and international standard, providing services in real estate, hotels, resorts, golf courses, trade, retail, and manufacturing, with famous brands including Intimex Vietnam, the Hilton five-star hotel chain, and a series of real estate projects and resorts in major cities around Vietnam.

It has recently been known for its urban area construction, with a highlight being the financial, trade and urban complex capped off with a 108-storey tower along the Nhat Tan-Noi Bai Highway (also known as Vo Nguyen Giap Highway) in Hanoi.

VN Economic Times