Things are looking up in Phnom Penh as Thai Boon Roong Co. and Chinese contractor Kia Nip Group have come up with plans to develop the tallest building in Southeast Asia. Realestate.com.kh reported that if plans are approved by the government, construction on the 133-story tower will begin in 2016.
Cambodia’s Ministry of Land Management Urban Planning and Construction are conducting a final study on the plan and a final decision should be announced sometime in the next 45 days. If the two developers are granted final permission they will begin construction next year and hope to have the project completed by 2019, according to the website.
The building will be known as Thai Boon Roong Twin Tower Trade Center and should everything go according to plan, it will stand taller than the Petronas Twin Towers in Kuala Lumpur and Vietnam’s Keangnam Hanoi Landmark Tower which are currently in first and second place on the list of the ASEAN’s tallest building.
Of course competition for the tallest building title is heating up with Landmark 81 in Ho Chi Minh City and Grand Rama 9’s Super Tower in Bangkok estimated to surpass the height of the Petronas Twin Towers should they eventually be built. Both developments are currently in the planning stage.
Thai Boon Roong Twin Tower Trade Center hopes it is the first one to be completed, however, several hurdles do stand in the way of the building being erected in the Cambodian capital. These challenges include a need to overcome a number of safety issues that most high-rise projects in the country face. In fact, there are only a few buildings taller than 40-stories in Phnom Penh with some others in development, Realestate.com.kh added.
Since local developers have very limited experience building these taller structures, firms from abroad have been called in to help raise the city’s skyscrapers. Taiwanese firm TC Royal Manor Co Ltd is one such foreign developer in Cambodia. They are overseeing construction of the mixed-use, high-rise TK Royal One on Russian Boulevard and have a positive track record when it comes to safety. Their construction site has been noted for its strict adherence to safety regulations.
“As a foreign investor, we want to have a positive and good image in this country,” Chenyi Chiu, general manager of TC Royal Manor, a Highly Commended award winner at the recently concluded Cambodia Property Awards 2016, said. “We want to give back to Cambodia by regulating our own site. We want to raise their understanding about building safety by giving them a model and other developers can learn from this.”
Covered Image: Thai Boon Roong Twin Tower Trade Center via Realestate.com.kh
This story was originally published on property-report.com and is reproduced as part of an editorial partnership between DDproperty.com and Property Report.
