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Old January 24th, 2008, 06:00 PM   #1
sth_Auk
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Phnom Penh | Gold Tower | 42 fl | 192m | On Hold

Cambodia to get first skyscraper
Sales launch in Phnom Penh, 24/01

http://news.bbc.co.uk/2/hi/asia-pacific/7207030.stm




Cambodian officials have attended the official sales launch of the first-ever skyscraper in the capital, Phnom Penh.

The twin towers are to be 42 storeys high - almost three times higher than the current tallest building.

It is the first of three skyscrapers planned in the capital, where the skyline has been kept low - in part to avoid overshadowing royal palaces.

But the government has encouraged the new buildings as symbols of Cambodia's development after decades of conflict.

Although Gold Tower 42 is some way from completion, the launch of its show apartment and sales office attracted government ministers and overseas ambassadors.

The BBC's Guy De Launey, in Phnom Penh, said the launch gave a taste of the shape of things to come.

He said the solid, imposing, gold-faced structure would stand out from its neighbours on Norodom Boulevard - an area of yellow-washed, wooden-shuttered French colonial-era buildings.

But Phnom Penh is in the middle of a real-estate boom - and some residents hope that building up will bring the price of homes down.

"It's more affordable for people wanting to stay in town, and I think it's good. It's secure and they have all the facilities," one resident said.

But other locals worry about the effect tall buildings will have on the city's character

"The original Phnom Penh city [was developed to] be horizontal, not vertical," one resident said.

South Korean companies are building Gold Tower 42 and another even taller skyscraper near the Mekong River.

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Old January 25th, 2008, 02:32 PM   #2
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Construction will begin this July and complete by the end of 2010. I pass the construction site everyday while I was in Phnom Penh.
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Old January 27th, 2008, 01:11 PM   #3
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wow!
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Old January 30th, 2008, 06:12 PM   #4
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This is insane!!! Such an awesome thing for Phnom Penh!
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Old February 10th, 2008, 05:08 AM   #5
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Quote:
Originally Posted by SpinY View Post
Does Gold Tower 42 have a website ? anyone know the details on the pricing or floorplans?
I dont know about the price, and not sure if this project has a website or not
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Old February 10th, 2008, 02:15 PM   #6
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Nice to know that Cambodia will get its first massive building.
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Old February 24th, 2008, 08:54 AM   #7
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Thank you

Hey thank you for letting me know. I miss translate it.
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Old July 24th, 2008, 03:39 AM   #8
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Cambodia breaks ground on its highest skyscraper
18 June 2008
Agence France Presse

Cambodia on Wednesday broke ground for what will be the country's highest skycraper, a 52-storey tower slated to become the "landmark" of the low-rise capital Phnom Penh.

The one-billion-dollar International Finance Complex (IFC) is being backed by South Korea's GS E&C company and is expected to be completed in 2012.

The project is being hailed by Cambodia's leaders as a symbol of the country's galloping economy, which has averaged 11 percent growth over the past three years.

"IFC is the highest building in the history of Cambodia's capital and is a symbol of the economic growth in Cambodia," said Deputy Prime Minister Sok An.

Kevin K.R. Kim, the Korean firm's CEO, said the project will contribute to the development of Cambodia and become "the landmark of Phnom Penh city."

The site, located near the Tonle Bassac River, includes plans for offices, 275 serviced apartments, a convention centre, an international school and six-high-rise apartment buildings accommodating 1,064 units.

The Southeast Asian nation in March broke ground on the country's first skyscraper, a 42-storey tower.

Cambodia has climbed back from decades of civil unrest to emerge as one of the region's most vibrant economies, marked by an unprecedented building boom that is radically changing the face of this once-sleepy capital.
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Old August 3rd, 2008, 09:32 AM   #9
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cheer cambodia !!!! our neighbour
I think Golden tower will become a symbol of Phnompenh
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Old August 22nd, 2008, 04:15 AM   #10
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Quote:
Originally Posted by bizanalyst View Post
I am amazed that there's so much planned for Phnom Penh to surface in such a short period of time.

Does anyone know if any of these new developements have been pre-sold? Is there a gauge for demand?

I know property prices are going up in PP but will all these new devts cause a reversal in price trend?
The Golden tower 42 are now at least 50% sold (it was 50% sold in Jan), I believe. The price (according to the newspapers) range from US $500,000 to US 1,700,000 for the penthhouse.

River Palace 31 was 40% sold few months ago.
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Old August 22nd, 2008, 10:36 AM   #11
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Quote:
Originally Posted by SeeMacau View Post
The Golden tower 42 are now at least 50% sold (it was 50% sold in Jan), I believe. The price (according to the newspapers) range from US $500,000 to US 1,700,000 for the penthhouse.

River Palace 31 was 40% sold few months ago.


Thanks SeeMacau, looking forward to seeing the PP skyline change soon. Do you know if the IFC was also presold (i.e. the apartment blocks)??

The IFC location is great for PP. If built according to specs it could be a city within a city by itself. Might even consider buying myself an apartment there (if foreigners are allowed to buy).
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Old August 23rd, 2008, 01:15 AM   #12
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Foreigner can lease the real property for 99 years, that's really a wonderful news, otherwise it might be a great investment.
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Old August 25th, 2008, 02:11 PM   #13
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Hi bizanalyst:

havent heard much about the IFC project,

The location for Gold Tower 42 is great too, very central and convenience, at the Monivong Blvd.
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Last edited by SeeMacau; August 25th, 2008 at 02:16 PM.
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Old August 26th, 2008, 03:34 AM   #14
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I know that very serious counterparties from various countries are involved in building the IFC.

I have also visited Tower 42's site. Location certainly very convenient. Site area however smaller compared to IFC, does not give one the Bangkok's Siam Paragon or KL's Pavillion type of feel.

Trend these days for developments is towards full self containment (i.e. city within a city)
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Old August 26th, 2008, 05:43 AM   #15
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I agree with you! One thing that Cambodian Government should take care of is the sanitation and traffic. Actually, A beautiful city does not need skyscraper but sanitation and order or the city. Additionally, if we have skyscraper, of course it will light up the city even more beautiful, colorful and modern.
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Old August 27th, 2008, 12:16 PM   #16
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Waste Management Services is coming soon. Heard Govt working closely with ADB funding on that front.

As for traffic, it is actually not that bad compared to Bangkok or KL where the cars seldom move at all!!

Speaking about transport, can anyone tell me how much a brand new Toyota Camry costs (fully loaded) in Phnom Penh? Does sound like I am relocating there huh? Just doing some research that's all.
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Old August 28th, 2008, 03:27 AM   #17
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Quote:
Originally Posted by bizanalyst View Post
I know that very serious counterparties from various countries are involved in building the IFC.

I have also visited Tower 42's site. Location certainly very convenient. Site area however smaller compared to IFC, does not give one the Bangkok's Siam Paragon or KL's Pavillion type of feel.

Trend these days for developments is towards full self containment (i.e. city within a city)
Gold tower 42 is just a twin towers apartment project with a shopping center, but IFC is a superblock so it must be a lot bigger.

I think the shopping center at Gold Tower 42 once it complete will look very similar, but smaller compare to Siam Paragon bangkok or Starhill Gallery in KL.
Units price at Golden tower 42 are quite expensive, starting from half a million US to 1.7 million US for the penthouse.
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Old August 28th, 2008, 04:43 AM   #18
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Quote:
Originally Posted by SeeMacau View Post
Gold tower 42 is just a twin towers apartment project with a shopping center, but IFC is a superblock so it must be a lot bigger.

I think the shopping center at Gold Tower 42 once it complete will look very similar, but smaller compare to Siam Paragon bangkok or Starhill Gallery in KL.
Units price at Golden tower 42 are quite expensive, starting from half a million US to 1.7 million US for the penthouse.
Wow that's quite expensive for a location like Phnom Penh....I can get a decent apartment in downtown BKK for half the price!!
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Old August 28th, 2008, 06:48 AM   #19
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$1.7 m is for the highest penthouse of Golden Tower. I believe some super rich guys will buy it...
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Old August 28th, 2008, 01:54 PM   #20
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Originally Posted by topmodelhi5 View Post
$1.7 m is for the highest penthouse of Golden Tower. I believe some super rich guys will buy it...
$1.7 million is way too expensive. I don't know what the developers are thinking. Maybe Cambodian Tycoon, Kith Meng, will purchase it.

Last edited by Chadster93; August 28th, 2008 at 02:06 PM.
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