Phnom Penh: Three giant companies based in three major economic tigers, a Chinese company, a South Korean company and a Japanese company, have been competing for the upper hand in their investment project on Russian Boulevard in Phnom Penh’s Teuk Thla district.
The project, which is being invested by a Chinese company, Prince Real estate Group, is actively constructing condominiums and the Prince International Plaza Center, which has 456 condominium units and a number of residential and commercial services.
Prince International Plaza with a total project area of 200,000 square meters with 4 buildings and 12 floors.
In the face of this project, Booyoung Group is nearing completion of the construction of tens of thousands of square meters of condominiums and commercial centers with an investment of 60 million US dollars.
The project is being invested in by Booyoung Town Cambodia, a subsidiary of Booyoung Group, which plans to invest $ 1.1 billion in the entire Booyoung Town project, but so far construction is nearing completion for the first stage.
According to a source from BOOYOUNG GROUP, the company is currently building four twin towers over 23 meters high. The floor is actively working and is scheduled to be completed as planned. The project will use a variety of facilities, including condominiums, shopping malls, arts centers and sports centers.
According to the source, the project has about 1,800 condominium units for sale, focusing on three types of target customers: Middle-class customers ,high-middle-class and high-end luxury condos that focus on the rich customers.
Japan’s ARAKAWA also did not overlook this potential location, as it is currently preparing to complete its mid-range condominium project.
ARAKAWA Condo has built 10 buildings with 12-storey carry 2,000 units of mid-range housing, with a focus on middle-income people and people leaving the White Building which was located at Tonle Bassac, Khan Boeung Keng Kang, Phnom Penh.
The Japanese giant plans to invest up to $ 70 million in the entire project.