Cambodia Retail Development

 


Prince Real Estate Group, a subsidiary of Prince Holding Group, a leading Cambodian conglomerate by Cambodia Prince Chenzhi, has successfully completed the investment agreement ceremony for Prince Square. The project is the real estate developer's first commercial retail project in Phnom Penh, Cambodia, and it 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, as a metropolitan area, is steadily integrating into the global economy. According to the Globalization and World Cities Research Network, Phnom Penh will be classified as a Gamma+ city (cities that connect smaller economic regions into the global economy) in 2020, having risen in the rankings over the previous two years.

With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will include a large supermarket, an international cinema, a fitness club, international restaurants, an indoor playground, and fashion stores.

“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, which was founded in 2015, has completed numerous projects in Phnom Penh and Sihanoukville. With real estate projects spanning 1 million square metres, it has contributed to the rapid transformation of urban Phnom Penh in recent years.

“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 development professionals, and building managers with extensive experience developing residential and commercial buildings, resorts, and integrated facilities.

Prince Real Estate Group aspires to be a multinational developer with projects in Southeast Asia on the horizon.

About Prince Holding Group

Prince Holding Group, also known as Prince Group, is one of Cambodia's largest corporate conglomerates, with operations in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle. Prince Group is committed to its mission of "Building a Better Life," and its philosophy promotes the values of "Commitment, Responsibility, Respect, Generosity, and Innovation."

Reference article - https://www.britannica.com/place/Phnom-Penh


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