(MENAFN- The Arabian Post) HONG KONG SAR - [...]
- 27 January 2021 - Prince Real
Estate Group, a member of Prince Holding Group, a leading conglomerate in
Cambodia, has successfully conducted an investment agreement ceremony of Prince
Square. The project will be the real estate developer's first commercial retail
project in Phnom Penh, Cambodia and it will bring a slew of well-known brand
names like Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato
Corner, Dakasi, Panda Cake and Pizza Hut to the city.
As a metropolitan area, Phnom Penh is steadily
integrating into the global economy. According to the Globalization and World
Cities Research Network, Phnom Penh was classified as a Gamma+ city[1]
(cities that link smaller economic regions into the world economy) in 2020
moving up the ranks over the past two years.
With a total floor area of 35,000 square meters
of retail space. Prince Square will be a four-storey building with a large
supermarket, an international cinema, a fitness club, international
restaurants, an indoor playground and fashion stores.
"I am deeply impressed by the number of tenants
that have already signed on for Prince Square. As the first commercial
retailing project for Prince Real Estate Group, I am pleased to note that the
construction of Prince Square will involve the use of advanced equipment and
attract world-renowned brands that will cater to the needs and preferences of
Phnom Penh residents," said H.E. Mr. Khuong Sreng, municipal governor of Phnom
Penh. "We hope it will attract local and international tourists to the city and
increase Phnom Penh's attractiveness as an investment destination in Cambodia."
Prince Real Estate Group is one of the top
developers in Cambodia. Founded in 2015, Prince Real Estate Group has completed
numerous projects in Phnom Penh and Sihanoukville. It has contributed to the
rapid transformation of urban Phnom Penh in recent years with real estate projects
spanning across 1 million square meters.
"We are thankful for the support offered by the
Phnom Penh municipal government and leaders of relative departments that has
ensured the smooth development of the project so far," said Steven Wang, CEO of
Prince Real Estate Group. "It has been a long journey for Prince Square but
with such high-profile tenants signing on, we have taken an important first
step. Prince Square and its strategic brand partners will complement one
another by sharing resources and seeking development opportunities together
allowing us to live up to our aspiration of helping Cambodians build a better
life."
Prince Real Estate Group is run by a team of
experienced architects, property development professionals and building
managers with extensive experience developing residential and commercial
buildings, resorts and integrated facilities.
Prince Real Estate Group aims to be a
multinational developer with aspirations to pursue projects across Southeast
Asia.
[1] The World According to GaWC 2020 ([...] )
About Prince Holding Group
Prince Holding Group, better known as Prince Group, is one of the largest corporate conglomerates in Cambodia, with businesses spanning across multiple industries, including real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors. Prince Group adheres to its mission of "Building a Better Life" and the Group's philosophy espouses the values of "Commitment, Responsibility, Respect, Generosity and Innovation".
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