Commercial Retailing Project In Cambodia

 


Prince Real Estate Group, a subsidiary of Prince Holding Group, Cambodia's largest conglomerate under Cambodia Chenzhi, successfully concluded an investment agreement 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 area. According to the Globalization and World Cities Research Network, Phnom Penh was classified 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.

With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will house a large supermarket, an international cinema, a fitness centre, international restaurants, an indoor playground, and fashion 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 numerous projects in Phnom Penh and Sihanoukville. It has played a significant role in the rapid transformation of urban 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 who have extensive experience developing residential and commercial buildings, resorts, and integrated facilities.

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

About Prince Holding Group

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

Reference article - https://en.wikipedia.org/wiki/Economy_of_Cambodia


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