Singaporean investors have announced plans to launch the biggest container market in Phnom Penh, with the 500-stall food and retail complex set to rise on a plot just a stone’s throw from the capital’s original container night market.

Adrian Ong, one of two Singaporean investors behind the project, said the 2040 Container Market was already under development on a vacant 1.5 hectare lot next to the Sofitel hotel in the capital’s Tonle Bassac district. He said the market is scheduled to launch in early November and will be divided into four sections for shops, food outlets, coffee shops and pubs – with stores operating around the clock.

“By opening 24 hours a day, we’re able to cater to a wide spectrum of audiences, from families looking for wholesome fun and friendly dining establishments to young adults and youth in the hunt for the latest cafes and watering holes,” he said yesterday.

Ong said interest in the new container park was high and 70 percent of its 500 available stalls were already booked by vendors, with the pub section almost entirely booked solid.

The 2040 container park will be the third container market complex in Phnom Penh. The first, Jet’s Container Night Market, opened in March and has since expanded to 320 stalls on a 1.3 hectare lot near Aeon Mall.

A smaller container market, Art’s Container Market, opened last month in the capital’s Boeung Kak neighbourhood, with 80 stalls for food and drinks. Similar markets are planned in Sihanoukville and Siem Reap.

Chhay Sophiorn, project manager of Jet’s Container Night Market, said the success of his company’s container market prompted other investors to copy the concept, which was itself based on similar markets in other countries, including Thailand, Singapore and London. While he expressed confidence that there was still room for more container markets in the capital, he said the proximity of 2040 to Jet’s – just two blocks away – would put them in direct competition.

“If the 2040 Container Market operates according to its master plan it will definitely impact our business,” he said. “However, it will not generate the excitement and crowds as the first one did when it opened, and our customers continue to support us.”

He added that Jet’s would continue to improve its quality and service, as well as hosting creative events, to attract customers.