PHNOM PENH (FN), March 10 — Construction of the 134-floor, about 500 meter-high and over $3billion worth Twin Tower is expected to break the ground in 2016 on the former Dream Land site, Phnom Penh.

The project is a joint venture between Cambodian real estate firm Thai Boon Roong Co., Ltd. with IP Group; Shang Hia and China State Construction Engineer Corp.

The MoU signing ceremony between the investment firms of the two countries was held this morning of March 10, under the presidency of Phnom Penh Governor Pa Socheatvong with participation of high-ranking officials including Gen. Sao Sokha, Deputy Commander-in-Chief of RCAF, and other investors and entrepreneurs.

“I am really delighted to join the signing ceremony of the 500m-high Twin Towers Project, the largest project which has ever happened in Cambodia’s real estate sector with the capital of $3 billion dollars,” said Pa Socheatvong who also added that this building would not only boost the beautify of the city of Phnom Penh, but also would attract more investments to Cambodia.

“The building itself costs $3 billion but there is a need of another $5 billion from participating business firms for it to proceed smoothly. The Cambodian Government, under the leadership of Prime Minister Hun Sen, supports the project and, as an encouragement, has integrated it into the Council for the Development of Cambodia (CDC) for it to move fast and conveniently” stated Socheatvong.
=FRESH NEWS