Japanese-owned multinational Aeon Mall (Cambodia) Co Ltd has announced that it is breaking ground on the construction of the Aeon Mall 3 project in Phnom Penh with an investment of more than 200 million USD.
The five-storey shopping mall will be located on the outskirts of the city and construction will take 27 months. (Photo: Phnom Penh Post)
Phnom Penh (VNA) - Japanese-owned multinational Aeon Mall(Cambodia) Co Ltd has announced that it is breaking ground on the constructionof the Aeon Mall 3 project in Phnom Penh with an investment of more than 200million USD.
The five-storeyshopping mall will be located on the outskirts of the city and construction willtake 27 months, the Phnom Penh Post reported.
Phnom Penh GovernorKhuong Sreng said at a groundbreaking ceremony that based on the 2035 PhnomPenh Land Use Master Plan, the southern part of the city has been designated asa new development area for high-rise construction and luxury satellite city projectsto ensure the effective use of existing land in the city.
He appreciated theprogress and the decision of the company to invest in the development ofshopping malls from the first project to the third project in Phnom Penh.
“On behalf of thePhnom Penh administration, I support, welcome and encourage investment in allservice businesses in the city.
“We also support tradecooperation and opening the investment environment to be more attractive andtrustworthy to businesses and investors,” he was quoted by the newspaper assaying.
Cambodian Valuers andEstate Agents Association President Chrek Soknim told The Post on October 7that the southern satellite city – ING City – will become an attractivecommercial hub for investment in commercial buildings in the future because thesuburbs have large plots of land for real estate development.
The mall will be aretail centre that attracts people from Takhmao town and Dangkor districtsresidents to shop and it will encourage more people to come and live in the 60mstreet area.
The Council for theDevelopment of Cambodia (CDC) in December approved AEON Mall to invest 289.6million USD in the 174,000sqm satellite ING City project, which is scheduled toopen in 2023.
Aeon Mall 1 had acapital investment of about 205 million USD and Aeon 2, 120million USD. It opened in June 2018 with a total area of about 68,000sqm in SenSok district./.
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The five-storey shopping mall will be located on the outskirts of the city and construction will take 27 months. (Photo: Phnom Penh Post) 
