Central Group to build mall in Phnom Penh
- 15 Mar 2017 at 13:52
- WRITER: KHMER TIMES
Aeon Mall is seen in central Phnom Penh. A second mall is expected to be completed by 2018. (Kyodo photo)
Thailand’s largest retailer is set to invest in a large shopping mall in Phnom Penh, Thai ambassador to Cambodia Nuttavudh Photisaro has revealed.
Mr Nuttavudh said last week that the Central Group, the largest Thai-based retailing company, will soon come to Cambodia and invest in the construction of a large mall, the Khmer Times reported on Wednesday.
He said company’s representatives had already studied their proposed site. However, the location of the new mall has not been revealed and building work has not started.
Mr Nuttavudh said he was proud of his diplomatic mission in Cambodia and added that he had helped mobilise many Thai investors to invest in the kingdom.
“By investing in a large shopping mall, they hope that the trade volume between the two countries will increase,” he said.
The Central Group has many major businesses in Thailand such as large shopping malls, the BigC Malls, the Pattaya Center and Robinson Center and the Plaza Center Hotel.
Ann Sothida, an associated director of CBRE Cambodia, said shopping malls in the country still have a chance to grow because the market has seen increased purchasing power and the number of shopping malls in the country with international standards is still limited.
She added that with an increased number of international shopping malls and supermarkets, domestic investors must focus on design and sales systems to make them more attractive and competitive.
The size of Cambodia’s shopping malls is small when compared with Thailand’s and Vietnam’s, she added.
The trade volume between Thailand and Cambodia decreased by 6% last year. The trade volume between the two countries last year was US$5.6 billion. Cambodia’s exports to Thailand amounted to $936 million and imports from Thailand to Cambodia were equal to $4.7 billion.
At present in Phnom Penh the shopping malls consist of Aeon Mall, which is building another mall in the city, Soriya Mall, City Mall and Parkson.
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