Cambodia to start triple-tower Times Centre construction in June

Work on a triple-skyscraper complex Times Centre near Olympic Stadium is due to get under way in June 2014 and be completed in 2017, according to the project supervisor Tony Chou.

With its slogan “The heart of Phnom Penh”, Times Centre will feature 3 residential towers – 2 with 38 storeys and one with 40. The project is located south of Olympic Stadium on Sihanouk Boulevard, in the capital’s 7 Makara district.

The complex would comprise a mall, a cinema, swimming pool, gym, sauna, tennis courts, gardens and restaurants from the ground to 5th floor, with the floors from the 6th floor up reserved for condominiums.There would be a total of 1,583 units ranging from $2,000 per sqm.

Chou said “Our project has a good location, superior interior design and quality construction materials,” adding that experienced Taiwanese engineers and architects were behind the project.

Chou declined to provide any information about the investors behind the project, saying only that it was a joint venture between Taiwanese business interests and local investors.

The target market for the condominiums would largely be foreigners due to low demand for condominiums among Cambodians. He nevertheless voiced optimism that the Cambodian preference for flats and villas would change in due course, and local demand for condominiums would grow due to their convenience when combined with good management, and a variety of services and amenities, as well as comfort and security.