Royal Field Development Company Limited, a subsidiary of Chip Mong Group, has invested $150 million to build the Chip Mong International Mixed Use Development Project, a 45-floor building that will include a Fairfield Inn.
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Speaking during the project’s groundbreaking yesterday, Leang Khun, chairman of Chip Mong Group, said the building will open its doors to the public in 2022.
He said it is located in a prime location in the city’s administrative centre, adding that it will boast seamless access to corporate, diplomatic and tourist destinations in the capital. He said the site is a 20-minute drive from the airport.
The Fairfield Inn will occupy the top 15 floors of the building, with customers being able to enjoy panoramic views from its sky bar.
Fairfield Inn by Marriott is a low-cost, economy chain of hotels franchised by Marriott International.
Mr Khun said the reputation of Fairfield Inn ensures that the building will attract high-end guests and visitors.
“We are excited to work with Marriott International and look forward to a successful partnership,” he said, adding that, with a rapidly expanding economy, the project could not have been launched at a more propitious time.
“Thanks to the reputation of Chip Mong in Cambodia and Marriot International, I believe this building will stand out and contribute to the development of the nation.”
In 2018 Chip Mong Group launched several big construction projects in Phnom Penh, including Chip Mong Bak Tuk Commercial Center, Chip Mong Sen Sok Mall, and Chip Mong Mega Mall 271, he said.
“In 2019 we are delighted to reach yet another milestone through this groundbreaking event to start the construction of this stunning building,” Mr Khun added.
Karl Hudson, vice president of Marriott International in Thailand, Vietnam, Philippines, Cambodia and Japan, said, “We very much appreciate the partnership with Chip Mong. This is only the beginning and the Fairfield brand will fill a gap in the hotel market in Phnom Penh.
“As you are all aware, the stability of any society is dependent on the growth of the middle-class. We see it exploding at the moment here, and this is going to lead to excellent business for the Fairfield by Marriot in Phnom Penh.
“We will also only be successful if we become part of the community,” he added. “Marriot always believes going to the community and showing our own spirit to serve through extra work that we do in the community, whereas this is supporting orphanages, environment or disadvantaged citizens. This is what part of Marriot International is.”
The building will be located on Russian Boulevard, covering 101,552 square metres, with nine floors of office space, five of retail shopping and three of cinemas.