Logo of Phnom Penh Post newspaper Phnom Penh Post - Building on Vattanak Bank offices to start

Building on Vattanak Bank offices to start

Building on Vattanak Bank offices to start

VATTANAK Bank plans to launch construction of a US$100 million headquarters on Monivong Boulevard next week, said one of the bank's key investors on Tuesday.

Construction is scheduled to finish in 2011, said Chhun Leang, the mother of Sam Ang Vattanak, Vattanak's executive director who is out of the country.

The 33-storey, 8,000 square-metre-headquarters opposite the railway station will also contain space for rent as offices or retail, she said.

Pa Socheat Vong, deputy governor of Phnom Penh, told the Post on Tuesday that the new building is good for the city, but warned that it will bring more traffic jams if it does not comply with architectural plans.

The capital is experiencing an unprecedented building boom that includes another massive bank headquarters - the Canadia Bank skyscraper, also on Monivong Boulevard.

"It shows the progress in the banking sector," said Pa Socheat Vong.

MOST VIEWED

  • Kingdom may hire Turkish power ship

    Cambodia is considering negotiating with Turkey to hire a 200MW-capacity power ship to meet electricity demands as the country faces an ongoing electrical shortage, according to the prime minister. Speaking to garment workers in Pursat province on Wednesday, Prime Minister Hun Sen said Electricite du

  • ‘Kingdom lacks up to 400MW in available electricity’

    Prime Minister Hun Sen has called on the general public, hoteliers and businesspeople with generators to use them as back-up as the Electricity Authority of Cambodia cannot generate enough electricity to meet needs due to low water levels in power station reservoirs. On Saturday evening

  • EDC tackles power shortfall

    Electrcite Du Cambodge (EDC) on Monday issued a statement updating the public on its efforts to tackle insufficient electricity supplies during the ongoing dry season. Reductions in electricity prices have resulted in a steady increase in consumers in the Kingdom, while local and international investors

  • African swine fever spreads to VN-Cambodia border

    African swine fever has spread to parts of Vietnam that border Cambodia’s Ratanakkiri and Kratie provinces, a Ministry of Agriculture, Forestry and Fisheries official said on Friday. Tan Phannara, the General Directorate of Animal Health and Production director-general, told a Phnom Penh workshop that