Sihanoukville’s Prince IT Building, described by the developers as a centre for information technology firms, was completed last week.
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Built by Prince Real Estate Group, who has recently up its investments in the capital, Prince IT Building occupies 60,000 square metres adjacent to Sihanoukville’s Twin Lion Roundabout and the five-star Prince Times Hotel.
According to the developers, the new building will make it easier for international IT companies to set up operations in the coastal province and help transform Sihanoukville into a modern urban centre.
Tang Guoqi, general manager of China Construction Engineering Co, a company involved in the project, said, “Prince IT Building is a major project in the high-tech sector for Prince Real Estate Group.
“It will help Sihanoukville transform into a hub for information technology firms by attracting big international companies into the Kingdom.”
Prince Real Estate Group has developed a series of big projects in Phnom Penh, including Prince Modern Plaza, Prince Printing Plaza, and Prince International Plaza, which have become popular for foreign and local investors.
“Prince Real Estate Group’s projects occupy a combined 2.56 million square metres, covering a wide range of industries, including residential and office buildings, hotels, clubs, and industrial parks,” Mr Tang said.
“Princess Real Estate Group will continue to develop more quality projects to serve the Cambodian people and to better build Cambodia,” he added
Cheng Srong, director of Sihanoukville’s Land Management Department, said the province plays a key role as a multi-purpose economic area in the government’s industrial policy for the years 2015-2025. The sectors in Preah Sihanouk with the most potential are service, industry and agriculture, he explained.
“This, combined with the fact that we boast some of the world’s most beautiful beaches, has made Sihanoukville into a popular investment destination for both local and international investors in the construction and property sectors.
The coastal province saw 297 construction projects, worth about $1.02 billion, approved in the first eleven months of 2018, according to the Sihanoukville’s Land Management Department.