Logo of Phnom Penh Post newspaper Phnom Penh Post - ING signs cooperation agreement with Hong Kong Companies to develop Dragon City

ING signs cooperation agreement with Hong Kong Companies to develop Dragon City

Content image - Phnom Penh Post
The General overviews of Dragon City which will be developed by ING Holdings, Causeway Bay Group and SINO Bay Construction Investment in ING City, Phnom Penh.

ING signs cooperation agreement with Hong Kong Companies to develop Dragon City

Phnom Penh (August 26, 2019) - ING Holdings Co., Ltd, has signed a cooperation agreement to develop a modern commercial complex called Dragon City in ING City together with Causeway Bay Group and SINO BAY Construction Investment from Hong Kong.

ING City, where Dragon City will be located, is an advanced complex of business and commercial facilities, and residential neighbourhoods, in a self-contained, safe and enjoyable environment complemented by extensive green spaces in the south of Phnom Penh.

The Signing Ceremony was held at Sofitel Phnom Penh Phokeethra and was presided over by Deputy Governor of Phnom Penh H.E Koeut Chhe, Vice Chairmen of ING Holdings, Oknha Lim Rose and Oknha Lim Bunsour, Chairman of Causeway Bay Group Chen Zhi and John Zhuang, CEO of SINO Bay Construction Investment witnessing the agreement.

The Cooperation Agreement commits the Cambodian and Hong Kong companies to join forces and develop the Dragon City Project in Beong Cheung Ek and Tum Pun area on 5.4 hectares along Samdech Techo Hun Sen Boulevard starting in 2020. The project will later expand to up to 25 hectares.

Content image - Phnom Penh Post
Representatives from ING Holdings, Causeway Bay Group and SINO Bay Construction Investment after Signing Ceremony on Monday.

“ING Holdings has received approval from the Royal Government to develop this expansion of Southern Phnom Penh area, which is well-known as ING City. Our vision for Phnom Penh blends shopping, working and leisure in a convenient and environmentally conscious way. Having seen the success of Hong Kong Causeway Bay’s commercial developments in 109 locations across China and the rest of Asia, we are excited at the prospect of working with them to create something just as spectacular in ING City,” explained Chairman of ING Holdings, Oknha Ing Bun Hoaw.

Chen Zhi, Chairman of Causeway Bay Group from Hong Kong, said the agreement will contribute to building a new commercial complex in response to Cambodia’s developing economy and the increasing population of Phnom Penh.

“If one looks back to Dubai 20 years ago, the area was just a desert, but after development and investment, it became a global city and an important business hub in the Middle East, as well as one of the biggest cities in the world. So the agreement with ING Holdings will help us build a new commercial complex in Phnom Penh with a Mall, Automobile City, Building Material City, apartments, international food courts, family houses and other modern buildings with special designs,” said Chairman of Causeway Bay Group Mr. Chen Zhi.

Content image - Phnom Penh Post
(From left to right): Cambodian ING Vice Chairmen Oknha Lim Bunsour and Oknha Lim Rose, Deputy Governor of Phnom Penh H.E Koeut Chhe and Chairman of Causeway Bay Group Chen Zhi and John Zhuang, CEO of SINO Bay Construction Investment.

According to Mr. Zhuang Xiongming, CEO of SINO BAY Construction Investment Co., Ltd., the main contractor of the “Dragon City” project, Causeway Bay Dragon City is an important project jointly developed by ING Holdings, Causeway Bay Group and SINO BAY Construction Investment. The Causeway Bay Dragon City will have a global design concept and the Habitat-Building System was introduced to Cambodia to create a model of quality life that is full of sunshine, rain, warmth and happiness.

Development of ING City began in 2007 and Samdech Techo Hun Sen Boulevard, which stretches over 9.1 Kilometer, was opened for public access in April 2017.

The development of Beong Cheung Ek and Tum Pun area is in line with the long-term vision of Samdach Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, who has guided Phnom Penh’s Southern expansion development strategy.

MOST VIEWED

  • Hungarian exposes 90 to Covid in Siem Reap

    The Ministry of Health has discovered 90 people who have been exposed directly or indirectly to a Hungarian man infected with Covid-19. They all are required to quarantine at home and the hospital. The ministry is searching for other affected people. Among the 90, one is the

  • PM warns of ‘new Cold War’

    Prime Minister Hun Sen said the possibility of a so-called new Cold War has become a significant concern and that all countries have to reject outright, any attempt to allow history to tragically repeat itself. He made the remarks in a speech during 75th Session

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • ‘Bad news is an investor’s best friend’ – unlocking investment potential in Cambodia

    It is time to shop. Economic woes provide good pickings for investors if they know where to look The poem If, written by English Nobel laureate poet and novelist Rudyard Kipling for his son circa 1895, is widely perceived as fatherly advice for John who would

  • Cambodia, CRF win rice battle in EU Court

    The European General Court has rejected the European Commission’s (EC) request to reject a complaint submitted by Cambodia and the Cambodian Rice Federation (CRF) regarding the EU’s reintroduction of tariffs on Indica rice exports from Cambodia. A court order uploaded to the European

  • PM requests Russia’s Covid vaccine

    Prime Minister Hun Sen has requested that Russia provide Cambodia with its Covid-19 vaccine after the former announced it planned on mass vaccinating its population next month. The request came on Thursday through the prime minister’s Facebook page as he met with Anatoly Borovik,