Retail Development For Cambodian Economy

Prince Real Estate Group, a subsidiary of Prince Holding Group, Cambodia's largest conglomerate, has completed an investment agreement ceremony for Prince Square. The project will be the real estate developer's first commercial retail project in Cambodia, bringing a bevvy of well-known brands to the city, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut.

Phnom Penh is steadily integrating into the global economy as a metropolitan centre. Phnom Penh was classed as a Gamma+ city (cities that integrate smaller economic regions into the global economy) in 2020, according to the Globalization and World Cities Research Network, after climbing up the ranks during the previous two years.

With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will have a huge supermarket, an international cinema, a health club, international restaurants, an indoor playground, and fashion retailers.

“I am deeply impressed by the number of tenants that have already signed on for Prince Square. As the first commercial retailing project for Prince Real Estate Group, I am pleased to note that the construction of Prince Square will involve the use of advanced equipment and attract world-renowned brands that will cater to the needs and preferences of Phnom Penh residents,” said H.E. Mr. Khuong Sreng, municipal governor of Phnom Penh. “We hope it will attract local and international tourists to the city and increase Phnom Penh’s attractiveness as an investment destination in Cambodia.”

Prince Real Estate Group is one of Cambodia's leading developers. Prince Real Estate Group, which was founded in 2015, has completed multiple projects in Phnom Penh and Sihanoukville. With real estate projects spanning 1 million square metres, it has contributed to the fast redevelopment of metropolitan Phnom Penh in recent years.

“We are thankful for the support offered by the Phnom Penh municipal government and leaders of relative departments that has ensured the smooth development of the project so far,” said Steven Wang, CEO of Prince Real Estate Group. “It has been a long journey for Prince Square but with such high-profile tenants signing on, we have taken an important first step. Prince Square and its strategic brand partners will complement one another by sharing resources and seeking development opportunities together allowing us to live up to our aspiration of helping Cambodians build a better life.”

Prince Real Estate Group is led by a group of seasoned architects, property developers, and building managers with vast experience in the development of residential and commercial buildings, resorts, and integrated facilities.

Prince Real Estate Group aspires to be a multibillion-dollar developer with plans to work on projects all throughout Southeast Asia.

About Prince Holding Group

Prince Holding Group, or Prince Group Cambodia, is one of Cambodia's greatest corporate conglomerates, having operations in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverage, and lifestyle. Prince Group's objective is "Building a Better Life," and the company's philosophy is "Commitment, Responsibility, Respect, Generosity, and Innovation."

More details - https://www.worldbank.org/en/country/cambodia/overview