Logo of Phnom Penh Post newspaper Phnom Penh Post - Insider says Booyoung Town is back

Insider says Booyoung Town is back

Construction of the Booyoung Town development began in 2013 but quickly stalled.
Construction of the Booyoung Town development began in 2013 but quickly stalled. HIN PISEY

Insider says Booyoung Town is back

Spurred by the bounce in the Cambodian real estate sector, the $1.1 billion development is pushing ahead

Work on the stalled $1.1 billion Booyoung Town residential and commercial development is set to resume next year, an insider has claimed.

The senior manager at the South Korea-owned Booyoung Khmer, who asked not to be named, said work would begin early in 2015.

He said the company had redesigned the project to cater for market demands and it would now include condominiums, apartments, retail and office space in a mixed Khmer-Korean style.

“First, we designed the residential aspect with large rooms but at the moment people want only two- or three-bedroom units, so we have to re-design to meet the current market’s demand,” he said.

The development covers 235 hectares along Russian Boulevard.
The development covers 235 hectares along Russian Boulevard. HIN PISEY

“We will be successful because this project includes a variety of buildings types such as condo, apartment and mall and parks.”

The target customers were Cambodians, Koreans, Chinese, Taiwanese and Singaporeans, he said.

“I think many Cambodian people will move to living in condominiums like the Koreans because living in condos is safe, comfortable and secure.”

Construction of the 235 hectare project began in May of 2013 but effectively ground to a halt only a few months later.

In September last year, Geum Yeon Hwang, the general manager of Booyoung Khmer told the Post that the project was moving slowly while the political situation remained unclear.

“Now the company is considering the political situation and the real estate sector in Cambodia,” he said at the time. “However, we expect that everything will be better soon.

“We did not suspend the construction, but we are just doing it slowly and the entire project is scheduled to be completed within seven years, but things can change depending on the situation.”

The senior leader this week said that the company was still confident the project would go on to be a success because the Cambodian real estate sector was seeing strong growth, with many large companies building condos and apartments and embarking on commercial projects in Phnom Penh.

He added that the company bought the land for development, not for sale.

The president of Khmer Real Estate, Kim Heang, said the location of Booyoung Town – along Russian Boulevard near the 7 Makara flyover and another yet-to-be-built flyover – was better than Diamond Island and Chroy Changvar.

“If they only build condos and retail space, it’s not so attractive, but if they include a diverse range of offerings such as condos, retail and office space, it will be interesting and attractive,” Heang said.

Sorn Seap, the director of Key Real Estate, was optimistic about the project saying it had a good location and was large enough to affect Phnom Penh’s development landscape.

However, he warned that other large projects had not been successful in the past.

“If the project starts next year, they will have not only the local market, but also ASEAN market,” he said.

“They will have an affordable price and a quality product for customers which will be able to compete with the other projects.”

“However, I am worried because other Korean projects in the past such as Camko City, Gold Tower 42 and Mekong Parrot were launched and then failed.

“This is the reason that it is hard to believe in Korean projects.”


  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,