Vattanac: A Tale of Two City Developments

29 July 2011
The Cambodia Daily
Economy and commerce
Anchor Beer / Bonna Realty Group / Cambodia / Cambodia Brewery Limited / Cambodia Defenders Project / Cambodia Valuers and Estate Agents Association / Chhun Leang / Headquarters / Kong Pisey / Lady Penh Designs / Mak Sitha / Ministry of Land Management / National Bank of Cambodia / NBC / Ngoun Sokha / Nick Faldo / Oxford University / PGA / Phnom Penh / Posco E&C / Property Development / Sam Ang / Sam Ang Vattanac / Sisowath Quay / Sung Bonna / TFP Farrells / Tiger Beer / Vattanac Bank / Vattanac Properties Ltd. Development

Vattanac may still be a family business, but a symbol of its big aspirations can be seen emerging from Phnom Penh's skyline on Monivong Boulevard, where the company is building a 38-story tower that will house its headquarters next year. The tower, which was designed by renowned international architects TFP Farrells and is being built by South Korea's Posco E&C, is perfectly positioned in the heart of Cambodia's emerging central business district. However, a few blocks east on the city's history Sisowath Quay, Vattanac is involved in a very different type of property development, and a controversy that seems out of character with the company's hard-earned reputation for professionalism.