Phnom Penh’s Gold Tower 42 to be completed by 2020
28 January 2019
After years of delays in construction, building Gold Tower 42 is scheduled to be completed in early 2020, according to the developer.
Liu Nianxin, CEO of Hongtao Decoration, said that Hongtao Weimin has constructed the high-rise project in Phnom Penh in partnership with Hongtao and Macau’s Weimin Architecture.
“It is important, as a general contractor, we are deeply honored to participate in the construction and development of Cambodia’s city to be strong,” Mr Liu said.
Yon Woo Cambodia – the company that owns the building – reached an agreement in November in 2017 with Shenzhen Hongtao Decoration and Weimin Construction & Engineering, which will be in charge of completing the project.
The 42-storey building is located in the heart of Phnom Penh, on the intersection of Monivong and Sihanouk boulevards.
The project began in 2008 and has already been delayed three times: first in 2009, following the global financial crisis, and again in 2012. Construction resumed in 2013 and then stopped again in 2017.
Yon Woo Cambodia announced last year that Gold Tower 42 construction has already cost $100 million so far and another $140 million will be spent to complete the whole project.