A Tough Ride for S Korean Property Projects
GS Engineering & Construction broke ground on June 18, 2008 of Cambodia’s largest building the International Finance Complex in Phnom Penh but since then has been suspend or forced to downscale like all of the other building projects in the city. Worth more than $4.5 billion all told the projects have hit a rough patch as a result of the recession. Developers were over confident in the Cambodian property market before the financial crisis due to the growth the sector had seen.
