Logo of Phnom Penh Post newspaper Phnom Penh Post - Chinese to help finish Gold Tower 42 by 2019




Chinese to help finish Gold Tower 42 by 2019

Company officials sign a deal to finish Gold Tower 42.
Company officials sign a deal to finish Gold Tower 42. Siv Meng

Chinese to help finish Gold Tower 42 by 2019

Yunwoo signed an agreement with two Chinese companies yesterday to finally restart the construction of the Gold Tower 42 project, with a new completion date set for the end of 2019.

Speaking to the press at the end of the signing ceremony, Kim Tae Yeon, general director of Yunwoo, said construction will resume next year.

“I promised Prime Minister Hun Sen and the Cambodian people that we will certainly finish the building by the end of 2019,” he said, adding that the company will only sell more of its units once it is fully completed.

“We will notify customers about the building’s features when construction is finished,” he said. “We are confident we will succeed.”

Yunwoo has already finished 31 floors of the building and plans to have five floors of underground parking, a three-floor shopping center, eight floors of administrative offices and 29 floors of condominiums, of which there will be 399 units.

The company has already spent about $100 million on the structure, and plans to dole out another $140 million for the project, Tae Yeon said.

Gold Tower 42 has been under construction since 2008, and Yunwoo hopes to finish it by 2019.
Gold Tower 42 has been under construction since 2008, and Yunwoo hopes to finish it by 2019. Moeun Nhean

Liu Nian Xin, general director of Hengzheng Hongtao Decoration, said he was happy to help to finish the project.

“If this were in China, it would not take a long time to finish due to the good quality of the building,” he said. “I will finish the project as planned and ensure that the skyline will emerge and be a great landmark for Phnom Penh.”

Construction on the project was suspended due to the economic crisis in 2008, and resumed in 2010 only to shut down again after finishing the 31st floor. Construction has been stopped since then.

Kim Heang, president of the Cambodian Valuers and Estate Agents Association, said he welcomed the news about the project and said it would add the city’s beauty.

“I am happy that there are companies that will resume the project. This building is in a good location and when it is finished, it will help to increase the value of the properties around it,” he said.

MOST VIEWED

  • Would you like fries with that? US burger chain makes Phnom Penh debut

    California-based The Habit Burger Grill restaurant chain is all set to serve up a delicious array of charbroiled burgers and sides at its newest international location in the centre of Phnom Penh. The Habit is “renowned for its award-winning Charburgers grilled over an open flame,

  • Phnom Penh underpass opens to ease traffic

    Prime Minister Hun Sen has announced a temporary opening of the 488m underpass at the Chaom Chao roundabout in Phnom Penh’s Por Sen Chey district, which was recently completed to connect traffic from National Road 4 to Russian Federation Blvd. The move is to reduce

  • Banteay Meanchey flood victims receive aid

    Prime Minister Hun Sen on Wednesday provided aid to more than 10,000 families affected by flooding in Banteay Meanchey province’s Mongkol Borei district and offered his condolences to the 18 victims who drowned in the province over the past week. He said flooding had occured in

  • PM urges caution as Polish man tests positive for Covid

    The Ministry of Health on Wednesday reported that a 47-year-old Polish man tested positive for Covid-19 after arriving in Cambodia on Monday. There are a total of six Covid-19 patients currently in the country, all of whom are being treated at the Khmer-Soviet Friendship Hospital

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from

  • Banteay Meanchey floods kill one more as death toll reaches 15

    As floodwaters start to recede in Pursat, Battambang and Pailin provinces and Phnom Penh, Banteay Meanchey continues to bear the brunt as one more person was killed on Monday, bringing the total number of flood-related deaths to 15 in the province this month. Banteay Meanchey provincial