Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, presided over on Monday a groundbreaking ceremony for the construction of a US$205-million ÆON Mall in Phnom Penh invested by Japan’s ÆON Mall Co., Ltd., a specialist shopping mall developer.
Addressing the event, Samdech Techo Hun Sen thanked the ÆON Mall Co., Ltd. for its decision to invest in Cambodia, stressing that this reflects the Japanese investors’ confidence in Cambodia’s political and macroeconomic stability and their necessary participation in the development of Cambodia.
The Cambodian premier also thanked the Japanese company for its decision to begin the construction now and not to wait after the national election in Cambodia, which is going to take place in eight months.
Located in Sangkat Tonle Bassac, Chamcar Mon district near the Russian Embassy, the four-floor ÆON Mall will operate in 2014.
The ground floor will be for clothing stores; the first floor for different services including barber shops; musical instrument stores, sports clubs, clinics, etc.; the second for restaurants and entertainment services; the third and fourth for cinemas and car parking with 1,400 parking lots.
The ÆON Mall is expected to generate from 2,000 to 3,000 jobs for Cambodian people.
According to H.E. Kep Chuktema, Governor of Phnom Penh, it is the first ever biggest Japanese investment project in Cambodia.
The total Japanese investments in Cambodia from 1994 to October 2011 reached some US$257 million, according to the Council for the Development of Cambodia’s report.