Phnom Penh Megamall launch delayed
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The Phnom Penh Megamall developer has delayed the mall’s launch until the fourth quarter of this year owing to lagging interior design work, according to its marketing representative CBRE Cambodia.
The 47,000sqm, 11-storey shopping hub is being constructed as a mixed-commercial centre.
“The delay has nothing to do with market issues,” said CBRE Cambodia MD Ann Sothida. “Companies have expressed their interest and have leased about 70–80 percent of the building’s retail space, with the ninth floor entirely leased out.”
According to local news media reports, the Phnom Penh Megamall, which is being constructed in the building which used to house a Parkson department store, requires additional foundation works unexpectedly when the project commenced.
CBRE Cambodia reports 19 buildings in Phnom Penh currently offering 314,000sqm of retail space in total, with an additional 261,746sqm in retail space supply expected to launch this year.
Questions & Answers
Q.What is the new expected launch date for the Phnom Penh Megamall?
What is the new expected launch date for the Phnom Penh Megamall?
The mall's launch has been pushed back until the fourth quarter of this year. The initial launch date is not mentioned, only the new revised timeframe.
Q.What is the primary reason for the delay in the Megamall's opening?
What is the primary reason for the delay in the Megamall's opening?
The main cause of the delay is lagging interior design work within the facility. The developer's marketing representative, CBRE Cambodia, confirmed this issue.
Q.How much of the retail space within the Phnom Penh Megamall has already been leased?
How much of the retail space within the Phnom Penh Megamall has already been leased?
Around 70 to 80 percent of the building’s retail space has already been leased. The ninth floor, specifically, has been entirely leased out to interested companies.
Q.What unexpected issue arose during the construction of the Megamall?
What unexpected issue arose during the construction of the Megamall?
The project unexpectedly required additional foundation works when construction commenced. This was due to the building's previous use as a Parkson department store.