39-storey building slated for Chbar Ampov district

• 16 September 2019
• Property Focus
• 6744 Views

A US$1 billion 39-storey commercial building is planned to be constructed in Nioth commune, Chbar Ampov district, on the east of Bassac River opposite Koh Pich City.

Construction on the Vue Aston building is set to start by the end of 2019 and will be completed by 2022. The building is joint venture between Sino-Cambodia Investment Co Ltd and Mingda International Group.

Comprising of a hotel, an 895-unit condominium, a restaurant and a gym, it will be built on more than 4,000sqm and have a total floor area of more than 78,000sqm, developed by The Peninsula Capital, a China-based firm.

The Vue Aston building project was announced on 15 September at the Urban Development Forum for 2030 at Sofitel Phnom Penh.

Deng Wenfang, chairwoman of the board of directors of project developer The Peninsula Capital, said that choosing Niroth commune for residential and commercial investment was because central Phnom Penh was seen as too limited for development.

She said that the company saw the development of Phnom Penh and the outskirts of Phnom Penh as similar in terms of the quality of life and the lives of the people were the catalyst for the firm’s decision to invest in Chbar Ampov district.

Pen Sophea, deputy director of the Phnom Penh Land Management, Urban Planning, and Construction, mentioned in the program that Chbar Ampov is one of the potential areas of the construction sector in Phnom Penh, and is attracting investment such as the construction of Vue Aston building that will be built Chbar Ampov district area.

 

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