Booyoung announces plans to build apartments in Cambodia

Booyoung Group, one of the nation’s leading construction, hotel and resort companies, said yesterday that it will create a new residence complex area in Phnom Penh, the capital city of Cambodia.

The nation’s 19th-largest conglomerate, which was founded in 1983, bought 236,022 square meters (58.3 acres) of land in Phnom Penh. The group will construct a land mark building and 47 apartment complexes, enough for 17,660 households.

It will be the company’s biggest housing project for Cambodia. The company said its goal is to build apartments for 10,000 households by next year.

Booyoung Group Chairman Lee Jung-keun, Cambodia’s Minister of Land Management, Urban Planning and Construction Im Chhun Lim and 2,000 other guests attended the groundbreaking ceremony yesterday in Phnom Penh.

Booyoung operates bank, communication and leisure businesses in Cambodia.