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Reeling in Cambodia’s real estate sector
Thu, 14 January 2021
A new norm sets the scene but risks continue to play out in the background
A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies.
From a distance, the scene of the market complex where local wares entice shoppers is colourful and vibrant.
Just before it lies its former extension, now occupied by an abandoned massive mixed development project that looms above the market din.
The $250 million Sino Plaza, once prophesied as the largest integrated complex in Phnom Penh largely due to its extensive onsite facilities, was so promising that it was to be built by one of the biggest contractors in the world by revenue, China State Engineering Co Ltd.