Aug 30, 2010PropertyReport
Phnom Penh Tower, a US$60 million 22 storey ‘skyscraper’ billed as Cambodia’s first intelligent office building is set to top-off September 2, this week.
One of several towers that are simultaneously under construction across the capital, developers are hailing these as a sign of Cambodia’s strong and resurgent property market.
Host to commercial office space, officials at Hyundai Amco Company, the firm that is building the tower, say that they have already contacted the 250 potential clients and expect 50 per cent of these to sign contracts soon.
“ I can see that foreign direct investment, tourism, import-export is increasing together with the number of companies registered to do business here,” Sung Soo Kim, Hyundai Amco Company Director, was reported as saying by the Phnom Penh Post.
“Cambodia’s real estate sector is not in a downturn anymore.”
With Cambodia’s new towers offering a mix of commercial, office and residential space, the targeted rent for the Phnom Penh Tower runs from about $20 to $40 per square metre. Its topping off also comes at a time when a larger 27 storey Canadia Tower looks to welcome businesses into its lower floors in September, with some speculating that it will be host to the Cambodia Stock Exchange, which is awaiting the completions of its own building next year.
One of several towers that are simultaneously under construction across the capital, developers are hailing these as a sign of Cambodia’s strong and resurgent property market.
Host to commercial office space, officials at Hyundai Amco Company, the firm that is building the tower, say that they have already contacted the 250 potential clients and expect 50 per cent of these to sign contracts soon.
“ I can see that foreign direct investment, tourism, import-export is increasing together with the number of companies registered to do business here,” Sung Soo Kim, Hyundai Amco Company Director, was reported as saying by the Phnom Penh Post.
“Cambodia’s real estate sector is not in a downturn anymore.”
With Cambodia’s new towers offering a mix of commercial, office and residential space, the targeted rent for the Phnom Penh Tower runs from about $20 to $40 per square metre. Its topping off also comes at a time when a larger 27 storey Canadia Tower looks to welcome businesses into its lower floors in September, with some speculating that it will be host to the Cambodia Stock Exchange, which is awaiting the completions of its own building next year.
14 comments:
Only one, what a poor country Cambodia is
stupid 11:58! read more news and don't make your mother shame to drop you out!!!
even the poorest nations in the world have more skyscrapers than cambodia. long way to go !
Listen up folks,
Number of skyscrapers does not necessarily equate to country' s wealth. In Cambodia, the more skyscrapers we have, the poorer the ordinary khmers become. Draw your own conclusions.
The conclusion is you are stupid dog 1:33 PM.
I don't know why they did not contact500 potential customers and say they expect 75 % to sign contract sooooooon.
lot of hype! even canadia tower has a 50% rented office space so why should this new tower be any better. economic crisis means less business for everyone.
Companies in Cambodia cannot aford to pay their employees with reasonable salary and it would be impossible for them to pay rent as expensive as that.
Like you ride MERCEDES to grow rice.
Did you know Hyundai Amco Company ? The South Korea is the largest number one investors in Cambodia. Sung Soo Kim is the Director of Hyundai Amco Company.The CPP Hun Sen signed with South Korea to build this skyscraper. This one belongs to foreigner,not for Cambodia.The second one is Chinese investors,and the third is Vietnamese investors.These three companies are making businesses in Cambodia,because the labors are cheap. Khmer people,don't be proud of this 22 stories skyscraper.
There will moore foreigner in Phnom Penh. Real Khmer will be homeless or live outside Phnom Penh.
22 STORIES? I'VE VISITED 1,500 FTS!
i'd like to see phnom penh become like hong kong or singapore skylines. god bless cambodia.
Hello ! 11:04 don't forget go to see Stung Meancheuy land fill when you got P.Penh and bring some food too.
hey, don't let stung meanchey paint a bad picture of cambodia,ok! stung meanchey dumpsite doesn't represent the whole cambodia,ok! for your information, there are more to cambodia than stung meanchey or whatever, ok! get with the program for a change, really! i want to see phnom penh develop like singapore, ok!
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