Construction of Four Major Chip Mong Malls Continues Smoothly

• 9 December 2020
• Local News
• 6351 Views

The construction of four major malls by Chip Mong Retail continues smoothly without delay and will finish as scheduled by 2021 and 2022 respectively, despite the COVID-19 pandemic.

Chip Mong Retail President Arnaud Dufresne told Construction & Property Magazine that besides the current two malls, there are four more projects in the pipeline that are in full speed of construction.

“Today we have two existing shopping malls which are Chip Mong Noro Mall and Chip Mong Bak Touk. We have four projects under construction and will open in 2021 and 2022,” said Mr Arnaud.

“The first one is the Chip Mong Sen Sok which will be open in Q1 of 2021. Another one is 598 that is scheduled for late 2021. Meanwhile, Chip Mong Mega Mall will open in 2022 and Chip Mong Tower, which is a mixed-use project, will also open in 2022,” he added.

And on top of that, Chip Mong Retail is currently cooperating with Chip Mong Land on several more retail projects, which are at the design phase at this stage.

“Actually, each time the Chip Mong Land develops a residential project, we will develop together a community mall to develop this eco-system between the borey and the shopping mall,” said Mr Arnaud.

Chip Mong Retail is currently operating two malls in Phnom Penh, which are Chip Mong Noro Mall and Chip Mong Bak Touk, providing a least 18,000 square metres of retail supply in the market. Upon the completion of the other four, Chip Mong retail will add over 210,000 square metres of the retail area to the total supply.

“We are investing quite a lot of investment. I am speaking about US$500 million investment in this shopping mall business. We see great potential in this market. All these shopping malls which are under planning and under construction is a positive message to attract more international brands,” said Arnaud.

The trend is the acceleration of the retail industry. Step by step, the customers, who are middle-class, will continue to grow, and it’s a big opportunity to develop the shopping mall business,” he added.

• Projects Development