New $1.1b district for Phnom Penh

booyoungcityphompenh
Location of the new town project in Phnom Penh. Click to enlarge.

Booyoung Group, a South Korean conglomerate, has started ground breaking on the construction of a more than $1.1 billion new town in the heart of Phnom Penh, Cambodia’s capital.  The company said that it will be the largest construction project in 2013.

The Booyoung Town construction is the single-largest residential project in the history of Cambodia and is directly administered by the Ministry of Land Management, Urban Planning and Construction.

“We hope that Booyoung Group’s investment in Cambodia will help convince all Korean and other foreign investors to invest in construction and real estate here,” said Cambodian Land Minister Im Chhun Lim.

Cambodia’s economic growth increased steadily from 6 per cent in 2010, to 7.1 per cent in 2011 and to 7.3 per cent 2013. Also, the investment amount for the construction sector, both from local and foreign investors, amounted to $2 billion in 2012, which was a 72 per cent increase from the previous year.

 



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[caption id="attachment_8865" align="alignleft" width="300"] Location of the new town project in Phnom Penh. Click to enlarge.[/caption] Booyoung Group, a South Korean conglomerate, has started ground breaking on the construction of a more than $1.1 billion new town in the heart of Phnom Penh, Cambodia's capital.  The company said that it will be the largest construction project in 2013. The Booyoung Town construction is the single-largest residential project in the history of Cambodia and is directly administered by the Ministry of Land Management, Urban Planning and Construction. “We hope that Booyoung Group’s investment in Cambodia will help convince all Korean and...

booyoungcityphompenh
Location of the new town project in Phnom Penh. Click to enlarge.

Booyoung Group, a South Korean conglomerate, has started ground breaking on the construction of a more than $1.1 billion new town in the heart of Phnom Penh, Cambodia’s capital.  The company said that it will be the largest construction project in 2013.

The Booyoung Town construction is the single-largest residential project in the history of Cambodia and is directly administered by the Ministry of Land Management, Urban Planning and Construction.

“We hope that Booyoung Group’s investment in Cambodia will help convince all Korean and other foreign investors to invest in construction and real estate here,” said Cambodian Land Minister Im Chhun Lim.

Cambodia’s economic growth increased steadily from 6 per cent in 2010, to 7.1 per cent in 2011 and to 7.3 per cent 2013. Also, the investment amount for the construction sector, both from local and foreign investors, amounted to $2 billion in 2012, which was a 72 per cent increase from the previous year.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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