A couple of Chinese companies have signedonto a joint-venture agreement to construct the world's tallest twin towers in Cambodia's capital of Phnom Penh. Once complete, the towers will include 133 floors and reach 560 meters in height, 108 meters taller than the current record-holder, Kuala Lumpur's Petronas Towers. They would also be 372 meters taller than the city's tallest building at the moment.
Sino Great Wall International and Wuchang Shipbuilding Industry Group Co., Ltd., won the honor of building the towers by bidding $2.7 billion. The project is also backed by Cambodian-owned Thai Boon Roong Group and Macau-owned Sun Kian Ip Group.
Construction is expected to begin just as soon as the companies finalize their funding agreement and last for five years. The towers will be built along the Mekong River and will include a luxury hotel, apartments, office space and a retail area, not to mention an exhibition hall, theater and restaurant.
It continues China's focus of investment abroad under the "One Belt, One Road" initiative that is aimed at developing trade and infrastructure across Asia and Europe.
Yet, it's not clear if Phnom Penh will be able to support colossal skyscrapers as well as the Middle Kingdom does. The Cambodian Daily notes that:
The country’s tallest building—the 39-story Vattanac Capital building—may offer a glimpse into the twin towers’ fate. Completed in 2014, the tower only reached an occupancy rate of about 30 percent by the middle of last year, the company’s senior leasing manager told The Guardian newspaper in July.
Another major project, Gold Tower 42, led by the South Korean company Yon Woo Cambodia, has stumbled since it broke ground in 2008. Construction on the 42-story building at the intersection of Monivong and Sihanouk boulevards is now expected to finish in 2018.