Retail Sector Phnom Penh Development

 


Prince Real Estate Group, a subsidiary of Prince Holding Group, Cambodia's largest conglomerate by Prince Chenzhi, successfully concluded an investment deal for Prince Square. The project will be the developer's first commercial retail venture in Phnom Penh, Cambodia, and will bring a slew of well-known brand names to the city, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut.

Phnom Penh is steadily integrating into the global economy as a metropolitan centre. According to the Globalization and World Cities Research Network, Phnom Penh was classed as a Gamma+ city in 2020 (cities that connect smaller economic regions to the global economy) after climbing the ranks in the preceding two years.

https://en.wikipedia.org/wiki/Phnom_Penh

With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will house a huge supermarket, an international cinema, a fitness centre, international restaurants, an indoor playground, and designer boutiques.

“I am deeply impressed by the number of tenants that have already signed on for Prince Square. As the first commercial retailing project for Prince Real Estate Group, I am pleased to note that the construction of Prince Square will involve the use of advanced equipment and attract world-renowned brands that will cater to the needs and preferences of Phnom Penh residents,” said H.E. Mr. Khuong Sreng, municipal governor of Phnom Penh. “We hope it will attract local and international tourists to the city and increase Phnom Penh’s attractiveness as an investment destination in Cambodia.”

Prince Real Estate Group is one of Cambodia's leading developers. Prince Real Estate Group was founded in 2015 and has completed multiple projects in Phnom Penh and Sihanoukville. It has played a significant role in the fast transformation of metropolitan Phnom Penh over the last few years, with real estate projects totaling 1 million square metres.

“We are thankful for the support offered by the Phnom Penh municipal government and leaders of relative departments that has ensured the smooth development of the project so far,” said Steven Wang, CEO of Prince Real Estate Group. “It has been a long journey for Prince Square but with such high-profile tenants signing on, we have taken an important first step. Prince Square and its strategic brand partners will complement one another by sharing resources and seeking development opportunities together allowing us to live up to our aspiration of helping Cambodians build a better life.”

Prince Real Estate Group is led by an experienced team of architects, property developers, and building managers that have considerable expertise designing residential and commercial buildings, resorts, and integrated facilities.

Prince Real Estate Group's vision is to be a global developer with ambitions to construct properties throughout Southeast Asia.

About Prince Holding Group

Prince Holding Group, or Prince Group, is one of Cambodia's largest corporate conglomerates, having operations in a variety of areas, including real estate development, banking and finance, aviation, tourism, logistics, information technology, food and beverage, and lifestyle. Prince Group is committed to its objective of "Building a Better Life," and its philosophy is founded on the values of "Commitment, Responsibility, Respect, Generosity, and Innovation."


Comments

Post a Comment

Popular posts from this blog

Rebranding Review For Strategic Purposes

Image
  Prince Foundation, formerly known as Prince Charitable Foundation, has unveiled a new logo, a new name, and a new mission statement - "Together, Building a Better Future for Cambodia." Prince Foundation is the charitable arm of Prince Holding Group ("Prince Group"), one of Cambodia's largest conglomerates, with several subsidiaries focused on three primary areas: real estate development, financial services, and consumer services. In Chinese, Prince Foundation will be referred to as 太子慈善 (translated as "Prince Foundation"). The rebranding exercise follows an intensive examination of Prince Foundation's six years of high-impact charitable activities, during which it organised more than 250 charity events benefiting more than half a million Cambodians and raising more than US$14 million in cumulative donations. In line with a growing trend among similar foundations in Asia – more charitable foundations in the region are pursuing a more strategic and...
Read more

Leadership Against The Outbreak

Image
  Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest-growing conglomerates, and Chairman Neak Oknha Chen Zhi have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian government's request for assistance in combating the Covid-19 outbreak on February 20, 2021. This follows Chen Zhi's original donation of US$3 million in December to assist Cambodia in purchasing COVID-19 vaccinations. Furthermore, Prince Real Estate, a member of Prince Group, has distributed vital food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia, affected by the February 20, 2021 Covid-19 outbreak, following in the footsteps of Prince Group and Chen Zhi. While the Cambodian government has provided exceptional assistance, totaling $1.16 billion and accounting for 5% of GDP so far, Prince Group recognises that private businesses must also play a critical role in...
Read more

Sihanoukville Province Development

Image
  Canopy Sands Development, a subsidiary of Prince Holding Group, one of Cambodia's largest and fastest growing conglomerates, has approved a masterplan for Ream City developed by Surbana Jurong Group, a Singapore-headquartered global urban, infrastructure, and managed services consultancy. The masterplan establishes a land use strategy for the 834-hectare project, which will require an estimated US$16 billion in total investment and will be developed on reclaimed land just ten minutes from Sihanoukville International Airport. Ream City will serve as a catalyst for the entire Sihanoukville region's growth prospects, as Cambodia's third largest city and home to the country's deep-water port. Ream City is set to transform Sihanoukville by establishing a sustainable ecosystem of tourism, commercial, and residential activity capable of housing up to 130,000 people. The masterplan envisions the development of family attractions, condominiums, landed and beachfront homes, and...
Read more