Morgan Tower, a 210-metre high-rise building, broke ground on Saturday in Phnom Penh’s Diamond Island, with project representatives hailing the development as the Kingdom’s tallest building.
The project comprises offices, a five-star hotel, a restaurant and a sky bar distributed along 46 storeys, with total investment set at $160 million.
“The five-star Morgan Tower will become the tallest building in Cambodia,” said Okhna Pung Kheav Se, chairman of the Overseas Cambodian Investment Corporation (OCIC) and president of the Chinese Association, at the groundbreaking ceremony.
“With sound macroeconomic policies and political stability, very soon Cambodia will have hundreds of high-rise buildings,” he added.
Ding Yongjun, managing director for Morgan Tower, the Chinese developer behind the eponymous project, said the tower has been designed to maximise the efficient use of energy, which will make it one of the most environmentally-friendly buildings in the nation.
They are now planning to build another skyscraper in Preah Sihanouk province, he added.
Deputy Prime Minister Hor Namhong, who presided over the ceremony, said China continues to play a crucial part in developing the Kingdom’s infrastructure.
In the last five years, Chinese investment in Cambodia has amounted to more than $21 billion, he said, adding that China has built nearly 3,000 kilometres of roads and seven bridges during that time.
In the first half of this year alone, Chinese investment equalled more than $5 billion, Mr Namhong added.