The structure of the 45-storey, $230 million Chip Mong Tower on Russian Boulevard near the Techno flyover was finished on January 14, Chip Mong Group said in a statement.
Capital investment in newly-approved construction projects over the first nine months of 2021 reached $4.657 billion, dropping by nearly 21 per cent year-on-year from $5.868 billion, chiefly as a consequence of Covid-19-related travel restrictions around the world.
TK Central, the award winning, mixed-use development located in the heart of Toul Kork district has officially welcomed their latest international tenant, Danone Specialized Nutrition (Cambodia) Co Ltd, a member of Danone Group, one of the most successful global food companies with products sold in more than 120 markets and with over 100,000 employees.
Even with the Covid-19 crisis upending the socio-economic situation for nearly two years, the high-end $20 million high-end Japanese-developed L’attrait managed to be fully completed last month.
Although economic risks from the Covid-19 crisis linger, Cambodian real estate still offers a wealth of potential, as well as reasonably low prices for investments, especially in a handful of key localities marked by burgeoning interest and a gradual pickup in investment activity, according to Minister of Economy and Finance Aun Pornmoniroth.
Blowback from the third wave of coronavirus infections has thrown construction of a $100 million affordable housing project in Kandal province’s Takmao town behind schedule, but the developer says it is bending over backwards to finish the task by December 31.
The management of the Housing Development Association of Cambodia (HDAC) has vowed to join the government in a push to spread the word among owners of specific types of residential projects not to allow the unauthorised construction of telecoms infrastructure within the boundary of their developments.
UK-based Chestertons announced a business expansion to Cambodia to tap the fast development of the Kingdom’s real estate and construction sector, and add to its 100-strong network of international branches. A launch is expected early next year.
The outset of Cambodia’s economic reopening process, which notably includes plans to roll out the welcome mat for international travellers who are fully jabbed against Covid-19, bears positive implications for a gradual recovery in Preah Sihanouk province’s real estate market, experts have said.
Construction of the main structure of the Century Plaza Shopping Mall on Russian Federation Boulevard (Street 110) has been completed and the establishment is scheduled to open before the Khmer New Year – which falls on April 14 in 2022.