Conglomerate Chip Mong Group plans more than US$300 million for retail investment

• 20 July 2019
• Local News
• 4877 Views

Chip Mong Retail, a subsidiary of conglomerate Chip Mong Group is planning to invest more than US$300 million in the retail sector to capitalize on this rapidly growing market as announced at their 19 July gala dinner at the Sofitel Phnom Penh Phokeethra.

Utilising over US$300 million of long-term investment in addition to holding desirable locations for its projects across Phnom Penh, the company has promised to attract both visitors and tenants.

“We know that investment in the retail sector and shopping malls are rapidly increasing in Cambodia, meaning that businesspeople have an ever-wider choice when it comes to choosing a partner for their businesses,” said Loak Oknha Leang Khun, CEO of Chip Mong.

Mr Stephane Pierron, President of Chip Mong Retail said the company will equip itself with long term investment with the strategies to attract and retain tenants and attract visitors to the malls.

“We are confident that with strong commitment and strategy for our six shopping malls with the support from all, will be a success,” he said.

“Chip Mong Retail aims to make Chip Mong Shopping Malls the go-to choice for tenants looking for new and exciting retail spaces, as well as the first choice for Cambodian people to entertain themselves and shop for modern, quality products they can trust,” said Loak Oknha Leang Khun.

According to Loak Oknha Leang Khun, the company currently boast two active supermarkets, five shopping mall projects and one commercial centre which are currently under construction.

In 2019, two more community malls are set to open, namely the Noromall along Norodom Boulevard and Chip Mong Bak Touk.