OCIC to open the second phase of Olympia Mall in 2020
Overseas Cambodian Investment Corporation (OCIC), Cambodia’s leading developer is set to open the second phase of its Olympia Mall project in 2020. OCIC is renowned for its infrastructure projects and Olympia Mall opened its first phase on 22 June 2019. Construction & Property Magazine reporter Ms Khat Leakhena sat down with Mr Sao Monasy, leasing manager of Olympia Mall to learn more about this second phase of development.
When will OCIC open the second phase of Olympia Mall?
The second phase is now under construction and is scheduled for completion in the second quarter of 2020. The company will open retail leasing space from October onwards.
Why is the company expanding the mall?
The expansion meets the growing demand of customers, while it is also part of the company’s goal to turn Olympia Mall into a diversified commercial centre selling luxury goods, providing excellent services, a variety of restaurants, and a large and modern entertainment complex in Phnom Penh. Moreover, the expansion comes due to Cambodia’s economic growth, political stability, current social trends, and especially the increase in people’s incomes.
What will the infrastructure of Olympia Mall feature?
Olympia Mall will be organised into areas with a food court, entertainment, clothing, electronics, jewellery, and cosmetics, etc. In addition, Olympia Mall will also have major infrastructure connecting the park, swimming pool, fitness centre, five-star hotel, and the Grade A office building together. The second phase of Olympia Mall will become more attractive as we will create a modern entertainment complex that has never been seen in Cambodia before.
Upon completion, how many visitors does Olympia Mall expect to attract?
Currently, Olympia Mall attracts about 20,000 visitors daily, and after completion of the second phase, the company expects to attract between 40,000 to 50,000 visitors daily.
The shopping mall retail sector has been growing in Phnom Penh; what makes Olympia Mall stand out? What is the key things Olympia Mall can deliver for tenants and visitors?
What Olympia Mall has set up is based on the needs of its customers. In addition, Olympia Mall is located in the best strategic location, surrounded by main boulevards, the first pedestrian overpass, commercial buildings, and especially it is near the Olympic Stadium. Secondly, it is the first mall with a long escalator linking the first to the fifth floors. In addition, the building is located in the heart of Olympia City, which is surrounded by commercial buildings, condos, shophouses, schools, hotels, and a medical hub. As mentioned, Olympia Mall is very convenient and attractive not only to the customers but also to attract the business people to invest as well.
Besides the second phase, does the company have any other development plans?
We plan to expand the parking lot and build a bridge linking it to the Olympia Mall, and we also plan to build shophouses facing the Olympic Stadium. The company also plans to build more malls.
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