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China, Cambodia venture to raise new building

Sum Manet / Khmer Times Share:
wikimedia/Trance addict/CC BY-SA

Local group OTK Royal One signed a partnership agreement this week with Chinese firm Huasi Group to build a 62-storey commercial building in Phnom Penh.

The $150 million structure will be located in the former location of TV3 Cambodia, in Monivong Boulevard, with construction scheduled to begin in September.

Kith Thieng, president of OTK Royal One, and Wan Xiao, vice president of Huasi Group, signed the deal on March 11.

“After careful consideration we invested $150 million, and we expect the project to be very successful,” said Mr Thieng

“It will be the tallest building in the country and will help promote the country’s image.”

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