Twin 133 story skyscrapers approved for Phnom Penh?

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Rutiger
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Twin 133 story skyscrapers approved for Phnom Penh?

Post by Rutiger »

This is all I can see from the Cambodia Daily website without a pay subscription.
133-Story Twin Towers Get Initial Approval

BY KANG SOTHEAR | FEBRUARY 18, 2016

The government is reviewing a mammoth $1-billion proposal by the Thai Boon Roong Group to build twin commercial skyscrapers in Phnom Penh which, if constructed, would be among the world’s tallest buildings.
https://www.cambodiadaily.com/news/133_ ... ed-108645/
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by TheGrinchSR »

Rutiger wrote:This is all I can see from the Cambodia Daily website without a pay subscription.
133-Story Twin Towers Get Initial Approval

BY KANG SOTHEAR | FEBRUARY 18, 2016

The government is reviewing a mammoth $1-billion proposal by the Thai Boon Roong Group to build twin commercial skyscrapers in Phnom Penh which, if constructed, would be among the world’s tallest buildings.
https://www.cambodiadaily.com/news/133_ ... ed-108645/
That will last about 2 minutes... Cambodia's construction industry is not up to the task of delivering a project like that.
"If you want a vision of the future, imagine a boot stamping on a human face - forever." - George Orwell
Rutiger
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by Rutiger »

Skyscrapers only make financial sense when existing development makes land prices prohibitively expensive and the only way to go is up. I don't foresee a need for such tall buildings in Cambodia for decades to come. How are those gold towers coming along? Hasn't construction on those completely stopped years ago leaving empty shells? Start with genuine high demand and then plan your building, not the other way around.
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by TheGrinchSR »

Rutiger wrote:Skyscrapers only make financial sense when existing development makes land prices prohibitively expensive and the only way to go is up. I don't foresee a need for such tall buildings in Cambodia for decades to come. How are those gold towers coming along? Hasn't construction on those completely stopped years ago leaving empty shells? Start with genuine high demand and then plan your building, not the other way around.
There are two reasons that skyscrapers of this kind are built in developing nations:

1. To act as a prestige project - people do travel to see tall buildings, tall buildings are regularly mentioned in international press, etc.

2. To act as a safe haven for black money - Chinese, Koreans, Iranians, Russians, etc. need somewhere to wash their cash. Cambodia is a world class money laundering destination and why substantial transfers to the country are required to pass through an intermediary bank. But buy property in cash... wait a few years and the money is magically clean. Back in the good old days of Dubai - there were skyscrapers in the marina where every unit had been sold and they hadn't even bothered to connect the building to the grid. When people are parking money and not using property - the property can stand empty and without lights.

Note, the city of Ordos which has never had more than 20,000 residents despite having accommodation for more than 2 million people. It regularly features on international news as a "ghost town" in China. What they always forget to mention is that more buildings are built there every single day, all the apartments sell out and the value of property has been on an upward trajectory for years. Welcome to Asia - "economic sense" is completely different to making sensible use of resources.
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by Rutiger »

Cambodia starts work on South-east Asia’s tallest towers
1 April 2016

Ground has been broken on the Thai Boon Roong Twin Tower World Trade Centre, a project to build two 500m-high towers in the Cambodian capital of Phnom Penh.

Image

The scheme, whose value is reported by sources in the Cambodian media as either $2bn or $3bn, is to be built opposite NagaWorld, the country’s only casino.

It will contain a mix of residential and commercial units. The 133-storey twin towers will include a hotel, serviced apartments and offices, a shopping mall, an exhibition hall, a cinema, restaurants and basement car park. The gross building area is around 1.6 million square metres.

As well as the towers it will have four residential buildings of 59 to 65 storeys, an 11-storey podium structure with three levels of basement, and another three levels of basement under the existing HE Plaza in front of the Twin Towers.

Tous Saphoeun, dean of architecture at Pannasastra University and a designer of the scheme, told the Khmer Times that it would be finished in three years.

“The presence of the building will change Phnom Penh’s skyline.”
– Architect Tous Saphoeun
The project is to be developed by a joint venture by the Thai Boon Roong Group of Cambodia, and Macau-based property developer Sun Kian Ip Group.

Thai Boon Roong is owned by Teng Boonma, a colourful and controversial figure in Cambodian society, who is frequently referred to as the richest man in the country.

Saphoeun said Thai Boon Roong originally planned to invest about $1bn on the scheme, but after studying the project they increased this to about $2bn. “The presence of the building will change Phnom Penh’s skyline,” he added.

Pa Socheatvong, the governor of Phnom Penh, said during the official launch that the towers would be the biggest ever built in Cambodia, and would inject billions of dollars into the country’s property sector.

He said: “This building project is not only situated in a good location, but it will promote Phnom Penh’s skyline to the next level and attract more investors to the country.”

The construction manager for the scheme is to be Hsin Chong Construction Group of Hong Kong. The company was formally appointed on 10 March.

The scheme is part of a surge in construction spending in Cambodia. Investment in the sector reached an all-time high last year at almost $3.5bn. This a 40% increase on 2014, and represents 19% of the country’s total GDP, according to data from the Ministry of Land Management, Urban Planning and Construction.

About 700 buildings, ranging from five to 55 floors, were built last year across the country, with most going up in the capital, Kandal, Siem Reap, Sihanoukville and Battambang provinces.
http://www.globalconstructionreview.com ... s-tallest/
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by Bitte_Kein_Lexus »

They have to move that dirty money somehow. Man, what an UGLY building. If you're going to spend that cash, hire decent architects, notebooks or Chinese. It looks hideous and there's nothing bold or grand about it.
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by bolueeleh »

how long did they took to build vattanac tower by the way?
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by Username Taken »

^^^ Better question would be, 'How long have they been building Tower 42?' (Must be over a decade now).
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by bolueeleh »

Username Taken wrote:^^^ Better question would be, 'How long have they been building Tower 42?' (Must be over a decade now).
wow i didnt know that, i just dont see cambodian sub contractors have the ability to take on such daunting projects, hardware and software wise. i heard most of the main contractors literally had to haul experts and equipments from their countries in. thus increasing the rental boom, once the construction boom goes bust, everything down the line goes bust as well, vicious cycle.
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Re: Twin 133 story skyscrapers approved for Phnom Penh?

Post by Username Taken »

A quick check reveals that it started construction in July 2008 and would be completed by the end of 2010. Maybe they meant 2020.
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