Logo of Phnom Penh Post newspaper Phnom Penh Post - Olympia City’s two main buildings 30% complete

Olympia City’s two main buildings 30% complete

Content image - Phnom Penh Post
Meng Chamroeun, the project manager of Olympia City (above), told The Post on Wednesday that its two largest buildings – a hotel and an office building – are currently 30 per cent complete. Hong Menea

Olympia City’s two main buildings 30% complete

The Olympia City project’s two largest buildings – a hotel and an office building – are currently 30 per cent complete, project manager Meng Chamroeun told The Post on Wednesday.

Olympia City is the Overseas Cambodia Investment Corporation’s (OCIC’s) flagship development project, which is located in the heart of Phnom Penh, in Prampi Makara district’s Veal Vong commune, north of the National Olympic Stadium.

The OCIC’s plans show that the 38-storey hotel and 55-storey office building are scheduled to be completed by the end of 2022.

Chamroeun said the construction of the two buildings is progressing every day, and is on schedule.

However, “the construction period may change if the market needs changes”, he said, adding that the office building will be designed under the small office/home office concept – offering both offices and accommodations to meet the market’s needs.

The entire Olympia City project comprises 12 buildings, including condos, shopping malls, commercial buildings, office buildings and hotels. Currently, four condos, two office buildings and a shopping mall have been completed and opened.

OCIC deputy director Touch Samnang previously told the media that the project began construction in 2012 on more than 6ha of land under a $500 million budget, which did not include the cost of the land.

Century 21 Advanced Property CEO Long Kimsuor said demand for office buildings and hotels is rising rapidly in Phnom Penh, driven by the arrival of new investors and the opening of diverse businesses.

The surge in the number of new companies coupled with rising landed-home rents to open offices, and a lack of proper parking, has led to a dramatic increase in demand for office spaces, he said.

Furthermore, he said, more hotels are needed to cater to the growing needs of investors and tourists. “The potential of Olympia City’s location will make the project attractive to customers.”

He said the growing population of Phnom Penh had increased demand in all sectors.

Cambodia Constructors Association general manager and secretary Chiv Sivpheng said political stability and economic growth have led to a surge in larger buildings and high-rises in all areas of Phnom Penh.

All construction sites are busy, with workers toiling day and night at some sites, he said. “Construction is active everywhere in Phnom Penh, which means the market is booming.”

As of October, 133 high-rises were at least 30-storeys high in the Kingdom, data from the Ministry of Land Management, Urban Planning and Construction shows.


  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • Mr Pancake or M Crepe? Tasty by any title

    Crowds of people gather around a lone man with a mobile food cart every day at around 2pm in front of the Institut Francais du Cambodge to order what many say are the best crepes in Phnom Penh. To some – even to the man making

  • Fourth dose Covid booster drive jabs 43K in two days

    In the first two days of the fourth-dose Covid-19 vaccination campaign, more than 43,000 people volunteered to get the jabs, while over 4.6 million people have received a third shot. Health ministry spokeswoman Or Vandine said that fourth-dose vaccinations, which began on January 14 exclusively with the Pfizer

  • Phnom Penh condo market loses steam

    Just four new condominiums were launched for sale last year in the capital, down from 17 in 2020, according to research by CBRE Cambodia. The four developments comprised “more than 1,000” units, while the 17 in 2020 consisted of 10,866, the real estate firm reported. CBRE Cambodia categorises condos as “high-range”, “

  • Singapore backs Cambodia's efforts on Myanmar

    Singaporean Prime Minister Lee Hsien Loong supports Cambodia in its efforts to seek a solution to the ongoing Myanmar crisis as the chair of ASEAN. Lee expressed his support during a meeting with Prime Minister Hun Sen via videoconference on January 14, with the talks focused