{"id":43619,"date":"2017-02-10T17:17:46","date_gmt":"2017-02-10T10:17:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cambodias-tallest-tower-forced-to-lose-a-few-storeys\/"},"modified":"2017-02-10T17:23:02","modified_gmt":"2017-02-10T10:23:02","slug":"cambodias-tallest-tower-forced-to-lose-a-few-storeys","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cambodias-tallest-tower-forced-to-lose-a-few-storeys\/","title":{"rendered":"Cambodia\u2019s tallest tower forced to lose a few storeys"},"content":{"rendered":"


\nConcerns over profit return
\nOlympia City is set to change Phnom Penh\u2019s skyline. Image credit: The Olympia City Development Co Ltd
\nPlans for a 65-storey building in Cambodia have been whittled down several floors because of the bearish pace of investor sentiment in the country, The Phnom Penh Post reported.
\nThe tallest building in Phnom Penh\u2019s Olympia City development will rise up to 45 storeys only, according to developer Overseas Cambodian Investment Corporation (OCIC).
\n\u201cThis storey-cutting plan is due to the unstable real estate market and the concern of profit return,\u201d said OCIC operations manager Meng Chamroeun. \u201cNonetheless, we are not yet 100 percent sure of setting a certain number of storeys to these buildings.\u201d
\nCovering 11 hectares, Olympia City will encompass condominiums, a shopping mall, restaurants, and entertainment amenities. The project won Best Mixed-Use Development at the Cambodia Property Awards last year.
\nMore: Cambodia, Vietnam ranked best Asian countries to retire for US citizens
\nOCIC is also set to downsize another Olympia building, originally slated for 45 storeys, to 38 storeys. This building is poised to become a five-star hotel, while its 45-storey neighbour will come online as office spaces.
\nWhile the masterplan of the development will remain intact, Chamroeun told the Post that the company would revert to the original blueprint should the Khmer market pick up speed. The two buildings are due to break ground by 2020.
\nThe taller structure will reportedly be Cambodia\u2019s highest structure until the completion of the 133-storey Thai Boon Roong Twin Trade Centre. The project, which has yet to begin construction, recently received the backing of a Chinese consortium led by Sino Great Wall International and Wuchang Shipbuilding Industry.
\nRead next: Why Phnom Penh is Asia\u2019s next top city for real estate
\n
\nSource : property-report.com
\nRead more…Cambodia\u2019s tallest tower forced to lose a few storeys<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Concerns over profit return Olympia City is set to change Phnom Penh\u2019s skyline. Image credit:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-43619","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-blx","jetpack-related-posts":[{"id":25467,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/southeast-asias-tallest-skyscraper-may-break-ground-this-year\/","url_meta":{"origin":43619,"position":0},"title":"Southeast Asia\u2019s tallest skyscraper may break ground this year","date":"September 8, 2016","format":false,"excerpt":"\r Cambodia could scale unchartered heights very soon Phnom Penh sunrise. getideaka \/ Shutterstock.com Project insiders have told The Phnom Penh Post that construction of the Thai Boon Roong Twin Trade Center, a 500-metre high, 133-storey skyscraper, will begin by the end of the year. 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Nominees and guests are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24713,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-cambodia-future-site-of-aseans-tallest-building-ready-for-a-big-quake\/","url_meta":{"origin":43619,"position":5},"title":"Is Cambodia, future site of ASEAN\u2019s tallest building, ready for a big quake?","date":"September 2, 2016","format":false,"excerpt":"\r A seemingly quake-free country gets its bearings after the recent Myanmar disaster Morning breaks over the rising skyline of Phnom Penh. somsak nitimongkolchai \/ Shutterstock Genocide, tortures, war \u2014 Cambodia has seen truly appalling things, but a significant earthquake isn\u2019t on the list. 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