Construction is set to begin on Cambodia’s tallest building as officials broke ground on the 52-story International Finance Complex that will dominate the skyline of the Kingdom's low-slung capital after its completion in 2012.
The $1 billion project, developed by IFC Phnom Penh, will include a main office tower surrounded by several smaller glass-and-steel structures, making it the latest in a string of mega-projects set to transform the city’s urban landscape in the next decade.
The International Finance Complex, located on a 6.8-hectare site near the Russian Embassy on Sothearos Boulevard, will contain 1,064 residential units in six towers ranging in height from 44 to 51 stories. There will also be a 34-story service apartment building, a school and other facilities.
“The IFC Phnom Penh project [is] a symbol of Cambodia’s recent economic growth and will become a new landmark of Phnom Penh,” said Kevin Kim, CEO and President of GS Engineering & Construction, the project’s South Korean contractor, at the June 18 groundbreaking ceremony at the building site on the Bassac River.
“I am confident that under the strong leadership of Mr. Hun Sen, the Cambodia’s economy and stability will continue to grow and be open to more Korean firms entering the Cambodian market” said GS E&C Chief Executive Officer, Kim Kab Ryul