One step closer to Makro Siem Reap commercial centre
In this article (5)
Thai cash-and-carry brand Makro is set to build a large development in Siem Reap.
The Council for the Development of Cambodia has approved the building of a Siem Reap commercial centre which will be anchored by Makro.
Associate director of CBRE Cambodia James Hodge said that the development reflects the modernisation of the national retail market that is following in Phnom Penh’s footsteps to develop a modern format retail to meet consumer demand.
“Certainly a provincial town or city that benefits from high numbers of tourists will also interest retail developers. They see an opportunity to tap into another source of potential customers,” he said.
Costs for developing the mall have been estimated at US$19 million, and will involve the creation of 179 local jobs.
Regarding the impact on local businesses, Hodge said: “Businesses may respond by considering prices, the quality of the service or environment they offer to customers. Usually competition is a good thing for consumers as it ensures businesses remain up-to-date and listen to customers in order to remain relevant”.
Questions & Answers
Q.Which body has approved the construction of the new commercial centre in Siem Reap?
Which body has approved the construction of the new commercial centre in Siem Reap?
The Council for the Development of Cambodia has granted approval for the building of the Siem Reap commercial centre. This paves the way for the Makro-anchored development to proceed in the region.
Q.What is the estimated cost to develop the new Makro commercial centre?
What is the estimated cost to develop the new Makro commercial centre?
The development costs for the new commercial centre have been estimated to be US$19 million. This significant investment will fund the construction and establishment of the large retail space.
Q.How many jobs are expected to be created for local people by this development?
How many jobs are expected to be created for local people by this development?
The new commercial centre is projected to create 179 local jobs. This suggests a positive employment impact for residents within the Siem Reap area as a result of the project.
Q.How might local businesses in Siem Reap react to the new Makro development?
How might local businesses in Siem Reap react to the new Makro development?
Local businesses might respond by reviewing their pricing, service quality, or the shopping environment they provide. This competition could prompt them to innovate and better meet customer needs.
Reader pulse
Is Makro's Siem Reap expansion timely?
22,957 votes so far