Thursday, June 19, 2008
Tallest buildings rising in Phnom Penh (2)
Sung Bonna, president of local real estate firm Bonna Realty, said that of the major real estate projects in the country, he had the confidence in the IFC. “In terms of location, in terms of the credit of the company, in terms of the timing, this looks like a good idea,” he said.
Famed architect Vann Molyvann , who designed the Independent Monument and Olympic stadium, said Wednesday that the high rise projects are good for the city, but he questioned whether too many of the projects are coming to soon. “I think now it’s not a good time…If they can start with the small projects it can be better,” he said.
Recently, there was rumor that Gold Tower 42 will not be built as the company took all money and went back to South Korea…Why? But accordingly, it has been reassured by top management of the company during a conference talk organized by CTN, that the rumor is wrong.
Gold Tower 42 will be started and to be finished in 2011. Until now all retail space in Gold Tower has been sold and 60 percent of residential units are spoken for.
Local firm Royal Group has also announced they plan to begin construction on two 25 -story buildings near Phsar Thmei by the end of the year.