HONG KONG SAR – Media OutReach – 27 January 2021 – Prince Real Estate Group, a member of Prince Holding Group Chairman Chen Zhi, a leading conglomerate in Cambodia, has successfully conducted an investment agreement ceremony of Prince Square. The project will be the real estate developer’s first commercial retail project in Phnom Penh, Cambodia and it will bring a slew of well-known brand names like Adidas, Levi’s, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake and Pizza Hut to the city.
As a metropolitan area, Phnom Penh is steadily integrating into the global economy. According to the Globalization and World Cities Research Network, Phnom Penh was classified as a Gamma+ city (cities that link smaller economic regions into the world economy) in 2020 moving up the ranks over the past two years.
With a total floor area of 35,000 square meters of retail space. Prince Square will be a four-storey building with a large supermarket, an international cinema, a fitness club, international restaurants, an indoor playground and fashion stores.
“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 the top developers in Cambodia. Founded in 2015, Prince Real Estate Group has completed numerous projects in Phnom Penh and Sihanoukville. It has contributed to the rapid transformation of urban Phnom Penh in recent years with real estate projects spanning across 1 million square meters.
“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 run by a team of experienced architects, property development professionals and building managers with extensive experience developing residential and commercial buildings, resorts and integrated facilities.
Prince Real Estate Group aims to be a multinational developer with aspirations to pursue projects across Southeast Asia.