New $1m Bayon mall to open in December

(Posted by CAAI News Media)

Friday, 06 November 2009 15:00 Soeun Say

PHNOM Penh’s Bayon Market grocery is set to move from central Monivong Boulevard to its new seven-storey shopping complex in Prampi Makara district by the end of December, said manager Chheang Meng.

The shopping centre, on Russian Boulevard near the Council of Ministers, took two years and more than US$1 million to build, he said Thursday.

The ground and first floors have been set aside for retail space, which will include the supermarket, and it will also have five floors of office space for rent, Chheang Meng said.

The minimum asking rental price for office space is $20 per square metre, and retail space will be priced between $20 and $30. “A lot of Cambodian customers have come to rent space, but they are small firms, and we are holding out for big clients only,” he said.

Chheang Meng said he did not expect to compete with the larger malls, but was confident the new mall could develop into a thriving retail space.