Logo of Phnom Penh Post newspaper Phnom Penh Post - Ground-breaking held for Phnom Penh's tallest skyscraper

Ground-breaking held for Phnom Penh's tallest skyscraper

Ground-breaking held for Phnom Penh's tallest skyscraper

Deputy Prime Minister Sok An and GS President Kevin Kim attend ground-breaking ceremonies for IFC Phnom Penh. Planned for 52 stories, IFC will be Phnom Penh's tallest building when its completed in 2012.

Construction is set to begin on Cambodia’s tallest building as officials broke ground on the 52-story International Finance Complex that will dominate the skyline of the Kingdom's low-slung capital after its completion in 2012.

The $1 billion IFC Phnom Penh project will include a main office tower surrounded by several smaller glass-and-steel structures, making it the latest in a string of mega-projects set to transform the city’s urban landscape in the next decade.

“The IFC Phnom Penh project [is] a symbol of Cambodia’s recent economic growth and will become a new landmark of Phnom Penh,” said Kevin Kim, CEO and President of GS Engineering & Construction, the project’s South Korean developer, at the June 18 groundbreaking ceremony at the building site on the Bassac River.

“Cambodia is the most dynamic and fastest growing country in Southeast Asia, and we want to participate in and contribute to that growth,” Kim said.

South Korean Ambassador to Cambodia Shin Hyun Suk added that the project was likely to further strengthen ties between Cambodia and South Korea, already the second leading source of foreign investment in the Kingdom after China.

“I am pleased to note that in Cambodia’s recent development, South Korea has been a key partner,” Shin told the ceremony, praising the government’s achievement in fostering political and economic stability. “The 52-story IFC building will stand as a symbol of the continuing progress in Cambodia.”

When completed, the IFC skyscraper will be the tallest building in Cambodia, eclipsing the 42-story Gold Tower 42 project, which is also Korean financed, as well as other residential and commercial towers currently planned or under construction around the capital.

In addition to offices, the IFC project will include 275 serviced apartments, long-term luxury housing, an international school and a convention center.

MOST VIEWED

  • Over $3M in traffic fines collected in two months

    Traffic police officers collected over $3 million in fines throughout the Kingdom during the past two months when officers strictly enforced the law in accordance with a May sub-decree, officials said. As incentives, law enforcement officers received between 200,000 and two million riel ($50 to $500) each. The figures

  • More than 10,000 workers suspended

    More than 10,000 workers at 18 factories in Svay Rieng province have been suspended because of Covid-19, said provincial deputy governor Ros Pharith. Home to 11 special economic zones, Pharith said Svay Rieng has not been spared as the pandemic takes a toll on the global economy. “There

  • Oz lauds Kingdom’s passage of money laundering laws

    In a press release published by the Australian embassy in Phnom Penh on Monday, the country applauded Cambodia’s stance on transnational crimes as well as its promulgation of an anti-money laundering law and a law on combating proliferation financing. The praise came after King

  • Lotus face masks designed to cover globe

    A French designer in Cambodia has produced ecological face masks from lotus fibre to supply local and international markets with an eye on preserving ancestral techniques and supporting Cambodian women in rural communities. During a trip to Asia, Awen Delaval, an eco-friendly fashion designer, was

  • Accused not treated equally, says CCHR

    The Cambodia Centre for Human Rights (CCHR) has urged the Court of Appeal to do more to ensure that an accused’s right to a fair trial is fully respected. In a bulletin released on Monday, the CCHR said it had monitored 273 cases at the

  • Planning ministry hands out cash to 420,000 poor families in Kingdom

    The Ministry of Planning has identified 20,000 more poor families in the country, bringing the total to over 580,000, while over 420,000 of them have received the government’s cash assistance. In the meantime, many social security cards from families not deemed to be poor have been revoked.

  • Investors’ $14.4M projects approved

    New investments from local and foreign sources continue to pour into Cambodia despite the Covid-19 pandemic remaining a lingering threat to regional and global economies. This comes as the Kingdom’s gross domestic product (GDP) is expected to contract between one and 2.9 per cent this

  • NagaWorld casinos set to reopen, schools to follow

    NAGACORP Ltd has requested that it be allowed to reopen its NagaWorld integrated resorts in Phnom Penh after the government recently approved casinos to operate again, provided they follow Covid-19 prevention measures set by the Ministry of Health. Mey Vann, the director-general of the Ministry

  • Rubber exports stretch 17%

    Cambodia exported 97,175 tonnes of natural rubber in the first five months of this year, surging 17 per cent compared to the same period last year as the Covid-19 pandemic stretches on, Ministry of Agriculture, Forestry and Fisheries official Khuong Phalla told The Post on Thursday. Phalla,

  • ASEM supports Kingdom’s proposal to postpone meeting amid Covid

    The 13th Asia-Europe Meeting (ASEM13) scheduled to be held in Cambodia in November has been postponed until mid-2021 due to the Covid-19 pandemic, a Ministry of Foreign Affairs and International Cooperation press statement released on Saturday said. The decision was made during a two-day meeting