>Breaking ground in Cambodia


by Meagan Kelly with files from Asia Pulse

Construction has officially begun on what will be Cambodia´s tallest building, a 52-storey skyscraper.

The construction company and Cambodian Deputy Prime Minister Sok An held a ceremony on Wednesday to commemorate the start of construction on the International Finance Complex (IFC).

“The project will provide hundreds of jobs and contribute to the economic development of our country,” said the deputy prime minister.

The skyscraper, a model role from the private sector in developing the country, would become an historic building and the tallest in Cambodia and become a center of tourism, culture and engineering.

GS Engineering and Construction, the largest real estate developer in South Korea, will take 45 months to complete the billion-dollar project near the Tonle Bassac River around March 2012. The 68,461 square meters project includes a 52-story office block, a 32-story residential block with 275 units, aninternational school and a shopping mall with 1,064 units.

Cambodian Deputy Prime Minister Sok said the construction showed the close relations between South Korea and Cambodia and the confidence of foreign investors in Cambodia.

GS Engineering and Construction president and CEO Kevin Kab Ryul Kim agreed.

“IFC Phnom Penh projects will open the gates to more South Korean companies entering the Cambodian market,” Kim said.

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