City poised for shopping mall boom
After spending $30 on clothes, Chan Pheavy sat down for lunch in the food court of Sorya Mall, plunking her shopping bags on the floor beside her. …
“It is very comfortable to do shopping here,” Pheavy, 25, who works for a commercial bank in Phnom Penh, said as she ordered a soup for lunch. “I can find many products that are not available at traditional markets, and at the same time, I can check out changes in lifestyle.”
As Phnom Penh develops and consumer spending grows, the demand for full-service shopping centres is increasing, and investors are moving in to meet heightened expectations.
“Consumers want much higher standards for shopping malls,” said Hiroshi Suzuki, chief economist at the Business Research Institute for Cambodia.
Suzuki pointed to several projects in the making that would have a “good potential to lead the retail sector in Cambodia.”
The Japanese-funded, 68,000- square-metre Aeon mega-mall is expected to open on Sothearos Boulevard near the Sofitel in July 2014. Parkson, a Malaysian retail chain, has said in the past it plans to enter Cambodia. Naga 2, a multi-purpose building on National Assembly Street that will accommodate five-star hotels, a department store and gambling, is set for completion in 2015 and will attract customers from NagaWorld casino.
As early as next month, the Young Commercial Center and Resort, a $15 million shopping complex on National Road 6 near Chroy Changvar Bridge, is expected to open its doors. …
Cambodia’s youth, who make up a majority of the total population, are gradually moving away from traditional market shopping and finding their way into malls. …
Hor Kimsay
http://www.phnompenhpost.com/business/city-poised-shopping-mall-boom
