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

Thai office space vacancy rate rises 26.3%, Yet Thailand’s richest billionaire optimistic about market demand growth

Bangkok’s office vacancy rate in prime Grade A buildings has soared to 26.3%, reflecting a growing oversupply, but Frasers Property Limited, led by Thailand’s wealthiest scion, is betting on the US-China trade feud to drive demand for office and industrial spaces across Southeast Asia, according to bangkokpost on 19 September 2024. With a US$3.6 billion […]

Thailand’s USD 6.5 Billion EV Industry Set to Power Commercial Real Estate Growth

Thailand’s fast-growing electric vehicle (EV) industry is projected to generate a real estate market worth at least USD 6.5 billion by 2030, driven by government policies and strong foreign investments. As the country aims to solidify its position as Southeast Asia’s leading hub for EV manufacturing, this growth will fuel demand for specialised real estate […]

Cambodia Maintains the World’s Highest Central Bank Interest Rates, Defying Global Trends

In the third quarter of 2024, Cambodia continues to lead global markets, with central bank interest rates soaring between 10% and 12%, starkly contrasting with the 0% to 6% range maintained by most major economies. This divergence, detailed in a report by CBRE Cambodia published on 17 October 2024, spans from December 2021 to December […]

Cambodia’s Construction Investments Struggle to Recover as 2024 Sees Significant Drop

Cambodia’s construction sector continues to face a challenging period, with approved investment projects in 2024 falling to about 2,190, valued at under USD 4 billion, a stark contrast to the nearly 4,841 projects worth approximately USD 12 billion in 2020. The latest report from the Ministry of Land Management and Urban Planning, presented by CBRE […]

Cambodia’s Tourism Rebounds to Near Pre-Crisis Levels, But Chinese Arrivals Lag Behind Regional Peers

Cambodia’s tourism sector is witnessing a robust rebound in 2024, with international arrivals reaching 4.4 million in the first eight months, a 22.5% surge compared to the same period last year. This strong performance brings the country within 1.6% of its pre-crisis peak of 6.9 million visitors in 2019, highlighting the sector’s steady recovery after […]

PwC Slapped with Record USD 62.2m Fine and Six-Month Ban Over Evergrande Audit Failures

PwC Zhong Tian, the China arm of the global accounting giant, has been fined a record USD 62.2 million and banned from auditing for six months for its failure to identify financial misstatements in China Evergrande Group’s accounts between 2018 and 2020. The penalties, the most severe imposed on an audit firm in China, are […]