Korean developers broke ground Friday on the construction of what aims to be Cambodia’s highest building—by far.
Yon Woo, Co., Ltd., says its 192-meter Gold Tower 42, expected to be completed by 2011, will house commercial space and condominiums.
The twin-tower “high-tech living space” will also contain a hospital, bank, shopping mall, fitness center, driving range and pool, developers say.
Speaking at the groundbreaking ceremony in Phnom Penh Friday, Council Minister Sok An said the construction of the towers would encourage infrastructure development and renew the reputation of Phnom Penh.
Yon Woo officials estimate the building will create 20,000 jobs, including employment for Cambodian university graduates, Sok An said.
Korean Ambassador Hyun Seok Shin said Friday that Korea enjoyed a “unique presence” in Cambodia, with a prominent role in foreign direct investment, tourism, cultural exchange, IT industry, vocational training, finance and construction.
The towers will stand as a symbol of Korea's presence in Cambodia, he said.