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Discussion Starter · #81 ·
Time Center
Construction on triple-tower Times Centre to start in June


Thu, 13 March 2014
Siv Meng
Work on a triple-skyscraper complex near Olympic Stadium announced in February is due to get under way in June this year and be completed in 2017, according to the project supervisor.

With its slogan “The heart of Phnom Penh”, Times Centre is slated to feature three residential towers – two with 38 storeys and one with 40. The project is located south of Olympic Stadium on Sihanouk Boulevard, in the capital’s 7 Makara district.

Project supervisor Tony Chou said that construction work would begin in June and would be completed in July 2017. He added that the complex would comprise a mall, a cinema, swimming pool, gym, sauna, tennis courts, gardens and restaurants from the ground to fifth floor, with the floors from the sixth floor up reserved for condominiums.

There would be a total of 1,583 units ranging from $2,000 per square metre, he added.

On the subject of competition, Chou said Times Centre had quality and expertise on its side.

“I think we can compete because our project has a good location, superior interior design and quality construction materials,” he said, adding that experienced Taiwanese engineers and architects were behind the project.

Chou declined to provide any information about the investors behind the project, saying only that it was a joint venture between Taiwanese business interests and local investors.

The target market for the condominiums would largely be foreigners, according to Chou, due to low demand for condominiums among Cambodians. He nevertheless voiced optimism that the Cambodian preference for flats and villas would change in due course, and local demand for condominiums would grow due to their convenience when combined with good management, and a variety of services and amenities, as well as comfort and security.

A model of Times Centre’s ambitious residential and commercial triple-tower project, which will be built close to Olympic Stadium in downtown Phnom Penh, with a slated 2017 completion date.
A model of Times Centre’s ambitious residential and commercial triple-tower project, which will be built close to Olympic Stadium in downtown Phnom Penh, with a slated 2017 completion date. SIV MENG
Asked about Cambodia’s political situation, Chou admitted there were some concerns, but said they were not “severe”, and that 15 per cent of the units in Building A had already been completed.

“We believe that this project will be a success due to its location and our focus on quality.”

Building A is 38 storeys, Building B will be 40 stories and Building C 38 storeys.

According to Chou, the land for the complex was leased from the government for 99 years and covers a total of 8,557 square meters. Upon completion, there will be parking space for 800 cars.

Not everyone is optimistic about the prospects for the increasing number of large-scale developments under way at present in the Kingdom’s capital.

In January this year, Khmer Real Estate Company president Kim Heang told the Post that the timing for Times Centre might be less than perfect because it comes at a time when other big-budget projects, such as Olympia City, are also under way.

Olympia City will feature a seven-storey shopping mall as well as two towers, one 45 storeys and the other 55 storeys. It is scheduled for completion in 2016.

But Noun Rithy, general manager of Bunna Realty Group, was more sanguine, pointing out that property transactions have been on the rise so far this year, suggesting there was little concern about political uncertainties and that over supply was currently also not a problem affecting the market.

“Even though development of the Times Centre has been sluggish, it will be successful due to three factors – its good location, quality and affordable prices,” he said.

 

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Discussion Starter · #82 ·

 

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Discussion Starter · #83 ·
New Cable Bridge




 

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Discussion Starter · #84 ·
 

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Discussion Starter · #85 ·
]



 

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Discussion Starter · #86 · (Edited)




 

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Discussion Starter · #87 ·




 

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Discussion Starter · #88 ·
AEON Mall Cambodia.











 

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Discussion Starter · #89 ·
Phnom Penh Olympia City







 

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Discussion Starter · #90 · (Edited)
Other...











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Discussion Starter · #91 · (Edited)
The Ancient.
























 

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Discussion Starter · #92 ·
Neak Leung ( Yellow People) bridge - Expected finished April 2015 just few month before ASEAN 2015 integration



 

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Discussion Starter · #93 ·
Sovann Condominium

DI Reviera


Platinum Bay

The Bridge


 

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Discussion Starter · #94 ·
Wed, 11 February 2015
Chan Muyhong and Siv Meng
A Singapore-backed real estate developer unveiled its plan yesterday to build a $500-million hotel and residential project called The Bay in the capital’s Chroy Changvar peninsula.

TEHO Development Cambodia, a wholly-owned subsidiary of TEHO International in Singapore, will spearhead the project in a venture with local developer Sok Bun Development.

TEHO holds a 49-per-cent stake in the ambitious project, while Sok Bun will own the remaining 51 per cent of the development, which is to be located near the peninsula’s Sokha hotel. The project’s first phase includes a 45-storey luxury hotel named the Okura Prestige Phnom Penh, expected to cost around $50 million, and a 53-storey apartment building which aims to be the tallest building in Phnom Penh.

“We have submitted the construction project proposal to the government already,” said Sok Bun, adding that construction was expected to begin by the end of this year and will finish in late 2019 or early 2020.

Foreign buyers will largely be targeted rather than local ones, Sok Bun said.

“I believe that the supply of apartment and condominiums is not overloaded yet as big international companies increasingly enter the Cambodian market and cause demand to increase,” he said.

“At this rate, in the next five years, I am not sure there will be enough supply for the demand or not.”

The five-star hotel, to be operated by Japanese firm Hotel Okura, will have 250 rooms, a Japanese restaurant, banquet halls, a rooftop bar, conference rooms, a spa, and an outdoor pool.

The second and third phases of the project will see the construction of five 55-storey apartment buildings, which will include shopping malls and other entertainment venues, said Bun.

Although there are relatively few five-star hotels in the country, Luu Meng, president of the Cambodia Hotel Association, said that the supply of luxury hotels is higher than the demand.

He urged newcomers to study demand before entering the market.

“During the high season, some hotels sell only about 70 per cent of their rooms,” he said.

“While it is good for Cambodia to have big investors coming in with big investments, more hotels will mean everyone will have a smaller share of the pie, unless the new players can bring in more clients or create more direct flights from Japan or the US to Cambodia,” he added.

Sear Rithy, director of local development firm Oxley Gem (Cambodia), which is overseeing the construction of the Shangri-La International Hotel in Phnom Penh, said the project has “both pros and cons”.

“One must be very clear about the potential of their market, or else it will only end up like the 2008 property bubble crisis if they are not serious with their investment,” he said. “Increasing investment reflects positive growth for Cambodia’s construction sector, but investors have to be realistic about the demand. Higher supply than demand will not bring good results for the sector.”
 

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Discussion Starter · #95 ·
Eco Hotel
 

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Discussion Starter · #96 ·
Vatanak Capital Tower.

Exchange Square

La Vie

Phnom Penh Admistration Building

River Center City
 

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Discussion Starter · #97 ·
Top 3 Largest Project in Phnom Penh, Cambodia.
 

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Discussion Starter · #99 ·
Some more projects in Phnom Penh, Cambodia.
The Peak


Sky 31




Camko City 2nd Phase.


Canadian International School



ACCELEDA Bank HQ


New 111 floors+ tower

 
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Discussion Starter · #100 ·
Phnom Penh Today -_- after one rain




















 
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