Phnom Penh Railway Station to Become New Commercial Centre

The French-architecture styled railway station in Phnom Penh will become an attractive commercial building after foreign investors from the United States announced they would inject investment to renovate the building to become commercial centre named Royal Train Square.

The announcement was recently made by the investors who said Royal Train Square will become an attractive commercial area.

The Royal Train Square building will be renovated in the upcoming months, according to a report in Khmer Times in early June.

Built in the French colonial era, the station now sports a big billboard advertising Royal Train Square over its main gate.

Following an investment of US$5 million, Royal Train Square will give people a “new place to meet, dine and relax in beautiful surroundings”, Mr Scott Bolls, the principal lead on the project said, adding that it will feature high-end cafes, restaurants and shops.

“With the emergence of Phnom Penh’s central business district it is the right time to bring the railway station into the 21st century as a destination for all residents of the capital and visitors to come and unwind in a breath-taking location,” Khmer Times quoted Mr Bolls as saying in the report.

The Ministry of Public Works and Transport could not give comments on the project of renovating the railway station.

“[I] don’t know clearly about the project to renovate the railway station to be a mall. It is the decision of the company because the government granted the concession to the company [Royal Railway] so all decisions depend on the company,” the ministry’s spokesman H.E Vasim Sorya said.

Under the management of Royal Railway, the railway station offered rail services from Phnom Penh to Preah Sihanoukville province and from Phnom Penh to Poipet city.

The company also launched an air shuttle service from the railway station to Phnom Penh International Airport.

- Video Advertisement -

Related Post

Japanese Companies Pull Out of China as Vietnam Becomes Next Destination

Japanese companies are becoming increasingly cautious about operating in China, as supply chain risks, anti-espionage legislation, and rising geopolitical tensions create an uncertain environment. A recent survey by Teikoku Databank reveals that the number of Japanese companies in China has decreased by 9.4% since its peak in 2012, with 13,034 businesses currently operating in the […]

Foreign Investors Turn Cautious as China’s Real Estate Market Faces Challenges

Amid growing uncertainty in China’s real estate market, foreign investors are becoming increasingly selective, with many shying away from commercial properties, according to Asia.nikkei dated 05 August 2024. In the first half of 2024, cross-border deals in China’s commercial real estate sector dropped by 13% year-on-year, totalling US$3.3 billion. This downturn reflects broader concerns about […]

Asia Real Estate Investments Drop 13% Amid Delayed Rate Cuts & Market Repricing

The recent decline in real estate investments across the Asia Pacific can be attributed to several factors, including delayed interest rate cuts and economic volatility. The US$22.9 billion investment volume in Q2 2024 marks a significant retreat as investors await clearer signals from central banks regarding monetary policy adjustments. This wait-and-see approach has tempered investment […]

Cambodia’s Mid-2024 Economic Update: Sharp Decline in Credit Growth Signals Business Slowdown, Rising NPL Ratios Across Sectors

A significant decline in credit growth indicates a slowdown in business activities nationwide. This trend is accompanied by rising non-performing loan ratios (NPLRs) across all major sectors, including commercial banks, mortgages, construction, and real estate activities, according to recent data from the National Bank of Cambodia for Q1 2024 ​and updated by CBRE Cambodia on […]

Surge in Foreign Investment Bolsters Vietnam’s Real Estate Market

Vietnam’s property market is witnessing a significant surge in foreign investment, fuelled by favourable economic conditions, legal reforms, and strategic infrastructure development. In the first five months of 2024, foreign investors poured nearly US$1.98 billion into the property sector, marking a 70% year-on-year increase, according to VnExpress International. This influx of capital underscores the growing […]

Experts Predict Recovery for Phnom Penh Real Estate Market with Strategic Adjustments

The Phnom Penh real estate market is currently undergoing a necessary correction phase, which is painful yet vital for moving forward to the next cycle. This correction is seen as a necessary step to stabilize the market and prepare it for future growth, according to Ms. Kim KinKesa, Managing Director of CBRE Cambodia in a […]