Posted May 18, 2020 18:01:13A big project in central Cambodia has been a long time coming.
The project is to build a new luxury residential complex and office park for the former Royal Thai Navy barracks at Phuc Hoi Thong.
The new complex will have a restaurant, spa and hotel on site, and will also feature a new retail, entertainment and residential area.
The development is one of the most expensive and complex construction projects in the country, costing $1 billion.
It was announced in March last year by the then-prime minister, Prayuth Chan-ocha, and has since attracted national attention.
But in a statement to ABC Radio Perth, the developer My Pho Properties (MPR) has said it was worth $ 1.8 million per square metre.
The developers statement to the ABC reads: “We have already received numerous offers from local governments in Thailand for the construction of the complex.
The project has been granted approval and is scheduled to begin construction in 2019.”
The project was originally supposed to be completed in 2021, but that date has been delayed due to delays in the construction process.
Construction on the complex began in 2012 and was due to be complete by 2020.
“We have had discussions with local governments to allow us to start construction earlier and faster, which will allow us time to prepare the area for the new development,” MPR CEO Jethro Singh told ABC Radio West Perth.
The property will be designed by the architect Lai Siang, who previously designed the Thai National Museum in Bangkok.
“The new development will be the most exciting project in the development of Phucho Thong, which is one-of-a-kind,” he said.
“This project will help to revive Phucong’s iconic heritage, with its historic buildings and the new retail and entertainment facilities, which we are looking forward to building.”
Construction will begin in 2019 and will be completed by 2022.
It will be one of two new residential towers that will be built on the site, with the rest being designed by local architect Liew Chul.
“I am looking forward for this project to be one more step in revitalising Phucang Thong,” Mr Singh said.
He said the project would create thousands of new jobs in the local community.
“It will also be a wonderful place for our community to celebrate and have a cultural experience,” he added.
“For the community, the development will allow the local area to grow as a destination for tourists, as well as attract the tourism industry.”
Mr Singh said the development would be “very beneficial to local businesses”.
“The development will benefit the local economy in both tourism and hospitality, and this will be very beneficial to our community,” he continued.
The site of the project is about 15 kilometres south of Phu Hoi Khong, in the Khlong Valley, just outside of the capital, Phnom Penh.