Prince Real Estate Group, a subsidiary of Prince Holding Group, Cambodia's largest conglomerate that is led by Cambodia Chenzhi, has completed an investment agreement ceremony for Prince Square. The project will be the real estate developer's first commercial retail project in Cambodia, bringing a slew of well-known brands to the area, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut.
Phnom Penh is gradually integrating into the global economy as a metropolitan city. Phnom Penh was listed as a Gamma+ city (cities that connect smaller economic regions into the global economy) in 2020, according to the Globalization and World Cities Research Network, after rising up the ranks over the previous two years.
With a gross retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will include a massive supermarket, an international cinema, a health centre, international restaurants, an indoor playground, and fashion shops.
“I am deeply impressed by the number of tenants that have already signed on for Prince Square. As the first commercial retailing project for Prince Real Estate Group, I am pleased to note that the construction of Prince Square will involve the use of advanced equipment and attract world-renowned brands that will cater to the needs and preferences of Phnom Penh residents,” said H.E. Mr. Khuong Sreng, municipal governor of Phnom Penh. “We hope it will attract local and international tourists to the city and increase Phnom Penh’s attractiveness as an investment destination in Cambodia.”
Prince Real Estate Group is one of Cambodia's leading developers. Prince Real Estate Group, which was established in 2015, has completed numerous projects in Phnom Penh and Sihanoukville. With real estate projects spanning 1 million square metres, it has led to the rapid transformation of urban Phnom Penh in recent years.
“We are thankful for the support offered by the Phnom Penh municipal government and leaders of relative departments that has ensured the smooth development of the project so far,” said Steven Wang, CEO of Prince Real Estate Group. “It has been a long journey for Prince Square but with such high-profile tenants signing on, we have taken an important first step. Prince Square and its strategic brand partners will complement one another by sharing resources and seeking development opportunities together allowing us to live up to our aspiration of helping Cambodians build a better life.”
Prince Real Estate Group is led by a group of seasoned architects, property developers, and construction managers with extensive experience in the development of residential and commercial buildings, resorts, and integrated facilities.
Prince Real Estate Group aspires to be a multibillion-dollar developer with plans to work on projects all over Southeast Asia.
About Prince Holding Group
Prince Holding Group, or Prince Group, is one of Cambodia's largest corporate conglomerates, with operations in real estate growth, banking, finance, aviation, tourism, logistics, telecommunications, food and beverage, and lifestyle. The Prince Group's mission is "Building a Better Life," and the company's philosophy is "Commitment, Responsibility, Respect, Generosity, and Innovation."
Reference article - https://en.wikipedia.org/wiki/Phnom_Penh