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AEON Mall 3 confirms Hyundai Engineering as developer

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AEON Mall 3 received official approval from the Council for the Development of Cambodia (CDC) in late 2019 and it has now confirmed that Hyundai Engineering has been appointed to develop the site worth about USD$164 million, outside Phnom Penh, the capital of Cambodia.

AEON Mall 3

The project is the third AEON mall to be built in Cambodia by the international Japanese distribution group. AEON 3 is planned to be a five-story shopping centre with a parking facility. The site is 170,000 square meters, the largest of the three AEON Malls in Cambodia, and the total construction timeframe is expected to be about 27 months. The first AEON mall in Tonle Bassac is 68,000 sqm and the second AEON mall in Sen Sok is  85,000 sqm. Previously, Hyundai Engineering has completed works for KOICA HRD Center, on the Cambodian local road maintenance and improvement projects, and the ACLEDA Bank extension. In late 2019, the AEON Mall 3 project was reported to be worth "$290 million as part of a larger $2 billion investment". The new AEON mall was scheduled to open in 2023 but is unclear if the COVID-19 pandemic will cause delays in 2020. The actual location of the biggest AEON Mall will be along Samdech Techo Hun Sen boulevard within Meanchey district’s Chak Angre Krom commune.

Shopping Malls Phnom Penh

According to Knight Frank, the capital’s total retail floor will go beyond 1 million sqm of the net leasable area after 2021. A number of new malls have opened in Phnom Penh in recent years including the new urban malls from: