SIX-STOREY Boeng Trabek Plaza shopping mall opened its doors in Phnom Penh yesterday, with officials claiming that 95 percent of the shops were already rented out.
Shopping malls had mushroomed in the capital in recent years as the Kingdom’s economy develops, Minister of Commerce Cham Prasidh said yesterday during the inauguration ceremony.
“More and more people have chosen to shop in modern markets and buy quality products,” he said.
“This shows progress of economic development and the improved cost of living for Cambodian people.”
There are currently 18 large shopping malls and dozens of medium and small ones in Phnom Penh, according to the minister. “They are almost everywhere in the city now,” he said
Part of the US$13 million Boeung Trabek Plaza complex located in Chamkarmon district, located near Boeung Trabek Market, rental prices for Phnom Penh’s latest shopping mall are between $130 and $325 per month, according to Plaza Sales and Marketing Managing Assistant Kaing Sokchea.
The shopping centre sits on 4,000 square meters, with some 300 stores, surrounding by residential apartments, he said.
“We’re not focused on competing with others mall and market, but we are trying to form a strong relationship with our customers, keeping them confident and stay long time,” he said.
Lay Kong Savuth, Managing Director of Boeung Trabek Market, which sits next to the newly opened Boeung Trabek Plaza, said he was not worried. He added that his market focused on an entirely different demographic.
“We are not worried about a new mall open near our market, because our clients are very different from theirs. Our market focuses on [lower income] people.”
The market charges $40 per month for renting a stall, he said.
Chheang Meng, general manager of the $1 million Bayon shopping mall said yesterday he wasn’t concerned about the high-end competition opening.
“This is a free market – we will keep our clients’ confidence and provide good services. This is our job to do to attract clients,” he said.