NagaWorld to complete new building in 2015

NagaWorld to complete new building in 2015

121129_02

The design of the NagaWorld 2 project. Photograph: Phnom Penh Post

NagaWorld says it plans to complete its huge multi-purpose building on National Assembly Street, 200 metres from the original NagaWorld in 2015, after the groundbreaking in early November.

Based on a press release NagaWorld posted on its website, NagaWorld 2 will cover 111,000 square metres, and include two five-star hotels, world-standard gambling, a theatre for international performances that can accommodate 3,000 people, a department store, and a cafeteria, as well as swimming pool on the rooftop.

The first hotel has 24 storeys with 1,000 rooms and the pool on the rooftop, while the second hotel will have 50 luxury rooms.

The company did not disclose the amount of the investment, and repeated attempts to contact the general directors of NagaWorld in Cambodia and in Asia went unanswered.

Po Eav Kong, marketing director of Asia Real Estate Co, said that the NagaWorld 2 development project is good while Cambodia’s economy is growing and the demand for such entertainment is also on the rise.

However, the success or failure of the project must be viewed through the lens of prevailing economic conditions, and Cambodia is not yet a hub of international entertainment like many other countries.

He said, “The investment in an entertainment center for people is good at the moment, but we have to look at their vision, whether it is for a gambling hub or an entertainment center for people during the weekends.”

Sung Bonna, the general director of Bonna Realty Group and the president of the Cambodian Valuers’ Association, expressed less optimism, saying that until the announcement, he had not known much about the NagaWorld 2 project.

He said, “The NagaWorld 2 project is good, and I think this investment is high for Cambodia at present, but I dare not come to a conclusion for the future.”

However, he said “It is a big project, similar to Vattanac Tower, so we have to wait for the success of Vattanac Tower first.”

To contact the reporter on this story: Siv Meng at [email protected]

MOST VIEWED

  • Twenty years after Pol Pot died a broken man, his memory looms large

    Two decades have passed, but Mea Chron still stands by Pol Pot. Most days he also stands by the mass murderer’s cremation site, keeping guard in the Khmer Rouge’s last stronghold of Anlong Veng. Pol Pot, the widely reviled despot who spearheaded the

  • Reuters: US Embassy fired 32 staff members for sharing pornography

    The United States Embassy in Phnom Penh has fired 32 non-diplomatic staff members who were allegedly caught exchanging pornographic images and video, including of minors, according to the news agency Reuters. Four sources, who spoke on condition of anonymity, told Reuters the content was shared in

  • ‘Trouble’ foreseen in Khmer New Year almanac

    At 9:12am on Saturday, Cambodia’s devout can expect the arrival of Moha Thorathevey, an angel on a peacock holding a trident in one hand and an auspicious serrated wheel in the other. The angel, who has a liking for water hyacinths, will usher in

  • Our 2018 guide to spending Khmer New Year in Phnom Penh

    Khmer New Year festivities are upon us. For the next few days, travellers will be making their way to their home provinces to eat, celebrate, play traditional games and visit a pagoda with offerings. If you will be staying put in Phnom Penh for the