Construction of the $245 million cable-stayed Cambodia-Korea Friendship Bridge, which will span the Tonle Sap and Mekong rivers in two parts, will begin soon after the project’s final appraisal.
Kim Jin Pyo, Speaker of the National Assembly of the Republic of Korea (RoK), revealed this recently when making a courtesy call on Say Chhum, Acting Head of State, at the Senate Palace in Phnom Penh.
The Speaker stated that the bridge will help Cambodia’s development and serve as a symbol of the two nation’s friendship. Say Chhum expressed his happiness with their developing ties and praised the Republic of Korea for its support for Cambodia’s development.
The bridge will be built in two sections: from the Night Market in Daun Penh to the Chroy Changvar neighbourhood of Phnom Penh, and from Chroy Changvar to the Areyksat area of Kandal province’s Lvea Aem City.
The two governments inked a $245.9 million financing deal on December 9, 2022, to construct the bridge for which the Republic of Korea will provide funding for the project.
This cable-stayed edifice will have four lanes and a width of 27.5 meters with a 80 km/h maximum speed on the bridge.
This project is the second of two agreements made between Cambodia and South Korea as part of the Framework Agreement Concerning Loans.
Source: Phnom Penh Times
Cable-stayed bridges have the weight of the deck supported by a number of diagonal cables in tension running directly to one or more vertical towers which transfer the cable forces to the foundations through vertical compression.
Korea Bridge – one step closer for retail to dominate the city
According to a recent report, major retail spaces in the city of Phnom Penh are expected to dominate, growing to just under 1M sqm by 2025 across 62 shopping destinations.
This phenomenon is driven by the now global expectation of the youth generation (Gen Z and Millennials).
Quite simply, they want more and better shopping. They also want a wide range of entertainment options under one safe and comfortable air-conditioned roof.
They differ from previous generations in that they consider the journey to be as important as the destination.
If not, more.
Shopping isn’t just about buying stuff, it’s about meeting friends and sharing experiences.
More and more, we are witness to product launches, fashion shows, dance and singing competitions offered as extras to the shopping environment.
This is changing the major retail landscape in most cities across the globe… and now Phnom Penh.
With some exceptions, retail supply growth is being largely driven by the popularity and growth of the Borey market, located in the outer suburbs of Phnom Penh.
Developers, driven by increased competition, are looking to provide a wider selection of major retail options and events as a selling point to attract property buyers.
As a result, shopping malls, retail plazas, and community malls are being incorporated into the broader design and construction of Borey and township projects.
The predominant areas of growth – Sen Sok, Meanchey, Chamkarmon, Toul Kork, and Chbar Ampov – are the new nexus in the city’s expansion.
Major retail options are now expanding to cater for the daily needs of the population in these high growth areas.
Of the 5 primary retail classifications – shopping malls, community malls, shopping centres, retail podiums, and retail arcades, community malls are proving to be the most popular retail properties.
More than 50% of Phnom Penh’s current retail properties are classified as a Community Mall, making it the most prominent type of retail property, followed by shopping centres.
The city’s retail spaces are expected to continue to dominate retail space offerings.
However, retail podiums and arcades are also expected to increase to complement the ongoing development of large mixed-use projects.
