The international-standard commercial and exposition centre B2B Park is set to open in the first quarter of next year.
The project by local investors is located along Hanoi Boulevard in Phnom Penh’s Sen Sok district. Construction is expected to be completed later this year.
The six-storey B2B Park is being built on more than 2ha and will be divided into sections for general-use stores, electronics stores, an exhibition hall, a cinema and a rental office. Its car park will have space for more than 500 vehicles.
B2B Park CEO Thourn Sinan said that aside from the Koh Pich Convention and Exhibition Centre, there are no suitable locations in Phnom Penh for international exhibitions.
The project will be key to providing northern Phnom Penh with international stores and exhibition halls, he said.
“The lack of international exhibition halls was the main reason driving me to invest in the project,” Sinan said, declining to disclose its investment value.
B2B Park will attract many customers, he said, as the project is located in a “non-competitive area”, and far from existing supermarkets.
Many people have contacted his company to lease space in the project, he said.
Cambodian Valuers and Estate Agents Association president Chrek Soknim said on Thursday that rising incomes and a steadily growing trend of embracing modern products have provided a good market for commercial centres and exhibition spaces.
The arrival of international supermarket chains such as Aeon Mall Sen Sok City, Macro Cambodia and Global House Cambodia has rapidly and unexpectedly altered the landscape of the Phnom Penh Thmey area, said Soknim.
Increased traffic between the capital’s satellite areas and the city centre has turned people to businesses near their homes and workplaces, he said.
“I think this integrated project will attract more customers because the area is becoming home for many more people.”
Land along the Hanoi Boulevard currently ranges between $2,000 and $2,500 per square metre, he said.