Logo of Phnom Penh Post newspaper Phnom Penh Post - Construction of Japanese-owned AEON 3 mall set to break ground

Construction of Japanese-owned AEON 3 mall set to break ground

Content image - Phnom Penh Post
The five-storey shopping mall will be located on the outskirts of the city and construction will take 27 months. Heng Chivoan

Construction of Japanese-owned AEON 3 mall set to break ground

Japanese-owned multinational Aeon Mall (Cambodia) Co Ltd, announced on Wednesday it is breaking ground on the construction of the Aeon Mall 3 project in Phnom Penh with an investment of more than $200 million.

The five-storey shopping mall will be located on the outskirts of the city and construction will take 27 months.

Hyundai Engineering won the bid to build the 200 billion won ($164 million) complex.

Phnom Penh Governor Khuong Sreng said at a groundbreaking ceremony that based on the 2035 Phnom Penh Land Use Master Plan, the southern part of the city has been designated as a new development area for high-rise construction and luxury satellite city projects to ensure the effective use of existing land in the city.

“I appreciate the progress and the decision of the company to invest in the development of shopping malls from the first project to the third project in Phnom Penh.

“On behalf of the Phnom Penh administration, I support, welcome and encourage investment in all service businesses in the city.

“We also support trade cooperation and opening the investment environment to be more attractive and trustworthy to businesses and investors,” he said.

Cambodian Valuers and Estate Agents Association President Chrek Soknim told The Post on Wednesday the southern satellite city – ING City – will become an attractive commercial hub for investment in commercial buildings in the future because the suburbs have large plots of land for real estate development.

“The mall will be a retail centre that attracts people from Takhmao town and Dangkor districts residents to shop and it will encourage more people to come and live in the 60m street area.

“This area is already a commercial location where land prices are already high, so land prices will continue to rise in the future. This area has the Aeon Mall 3 project and new condominium projects and land here costs more than $3,000 per square metre,” he said.

The Council for the Development of Cambodia (CDC) in December approved AEON Mall to invest $289.6 million in the 174,000sqm satellite ING City project, which is scheduled to open in 2023.

Aeon Mall 1 had a capital investment of about $205 million and Aeon 2 an investment of $120 million. It opened in June 2018 with a total area of about 68,000sqm in Sen Sok district.

Sreng said there are 263 Borey buildings and 1,424 high-rise buildings in Phnom Penh. In the first nine months of 2020, 1,020 new construction projects were under development with a total area of more than five million square metres and capital investment of about $2.3 billion.


  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement

  • Aeon, Micromax partner again for third mall

    AEON Mall (Cambodia) Co Ltd and a locally-owned Micromax Co Ltd have entered into a partnership agreement to develop fibre optic infrastructure for $200 million Aeon Mall 3, which is expected to be opened in 2023. The agreement was signed on June 20 between Masayuki Tsuboya, managing director of

  • Walmart plans to diversify stock of Cambodia goods

    Walmart Inc, the world’s biggest retailer, on June 22 reiterated recent plans to scale up and greatly diversify its purchases of Cambodian products, according to the labour ministry. This came during a virtual working meeting between Minister of Labour and Vocational Training Ith Samheng and