The Point, an office-and-retail development in the Chamkarmon district of Phnom Penh, is expected to be completed in the fourth quarter of 2019, the project’s developers said yesterday.
The building, which sits along the Mao Tse Toung Boulevard, “offers an attractive, truly modern facade which will add an exciting look to this buzzing corner of the city,” the company said.
Investors “decided to build the project to take advantage of the economic growth of the real estate sector in the country,” CBRE Cambodia director Ann Sothida said.
The building features a 2,200-square metre community mall and a 9,200-square metre office building covering one hectare of land. Parking space will be available for 200 cars and hundreds of motorbikes, Po Sothearak, chairman of The Point, said.
The Point is being built by local construction firm 3DS Property Management and is designed by Cambodian architects Re-Edge. It is set to be Phnom Penh’s first “green” mixed-use development, as the building features energy saving technology, Mr Sothearak said.
“The Point, which is scheduled to open soon, is different from other projects. It eliminates the need for transportation from one place to another with its mixture of office building and mall with modern restaurants, all in one place,” Say Samal, Minister of the Environment, said.
Construction and real estate have become major contributors to Cambodia’s economy over the last decade, Mr Samal added.