Once completed, the 77-storeyed J-Tower 3 will be the tallest structure in Cambodia

Chasing a towering dream of transforming Phnom Penh into a city of skyscrapers, the groundbreaking ceremony for the colossal J-Tower 3 was held yesterday at the project site located on Street 71, in Tonle Bassac, Khan Chamkarmon.

Once completed, the 77-storeyed building standing at a height of 320 metres and covering an area of 98,480 square metre, will be the tallest structure in Cambodia and the eighth tallest in the Asean region.

The $150 million project plans the construction of 360 units with each unit being meticulously created as a three-bedroom living space, having two different area options of 166 sqm and 178 sqm for the customers.

Speaking at the groundbreaking ceremony, Shunji Tani, the Chief Executive Officer of Tanichu Group, the company which is implementing the project, said the J-Tower 3 project aims to boost the Kingdom’s national prestige, global reputation and further enhance the national economy to make a better future.

“Cambodia is known as the ‘Kingdom of Wonder’. Most visitors come here to see the beautiful structure Angkor Wat. Our J-Tower 3 will be another attractive building in Cambodia standing at 320 metres.”

He pointed out that the “extremely tall skyscraper will set world records and make dreams come true”. “I would like to thank the Cambodian government, Prime Minister and other ministers for their support of the project. I would also want to show appreciation to our Cambodian staff members for their hard work. Without you, this wouldn’t be possible!”

Upon completion, the unparalleled J-Tower 3 is expected to break many existing records and create new milestones. The Sky Bar and Infinity Pool on the 77th floor will enter the Guinness World Records as the highest swimming pool in the world.

The 50th floor of the building will have a lounge, cafeteria, shopping and business rooms exclusively for the residents and the 49th floor will be having a luxurious indoor pool, spa and sauna. A fully-fledged gym and swimming pool will endow the 27th floor while the ‘green park’ on the 26th floor will remain unique in all ways. There will be leisure facilities such as a bowling alley, billiards and karaoke room on the 11th floor.

Japanese Tanichu Group entered the Kingdom in 2013 and has had a highly successful decade completing four building projects including the ‘43-storeyed J-Tower 2 Condominium’, which was completed in April 2022.

Speaking to Khmer Times earlier, Shunji Tani said the successful completion of J-Tower 2 despite obstacles offered by the pandemic always highlights the company’s credibility, high technical capabilities and safety standards.

“And these track records helped us obtain the official permission and approval for J-Tower 3 project from the part of the Cambodian government. Price, quality and location are the three key words in the real estate sector and J-Tower 3 project offers a unique balance between the three.”

“Safety and enjoyable living punctuates the J-Tower 3 Condominium project. There will be 24-hour security and a nursing station to offer healthcare support. Quite similar to Phnom Penh International Airport, Aeon and J-Tower series, all our projects have AEDs (automated external defibrillators) installed to attend to healthcare emergencies. Besides, there will also be a plethora of other facilities.”

Shunji Tani opined that the real estate sector in the Kingdom remains stable. “There will be ups and downs in any city’s real estate sector on the basis of fund flows and in the Kingdom the situation is quite stable.

When asked about the fund flows in the real estate sector, he said Cambodia has an economy where US dollars are in circulation. “Foreigners can invest here with confidence and this will further contribute to the stability of the real estate sector.”

“We have built four condominiums in 11 years. All of the J-Tower series have been sold out, and we completed the construction on time and met all deadlines without delay. In addition, the condominiums are now valued at higher prices than the initial selling price, and the rental properties are almost fully occupied.

“This is a great success track, unlike any other developer. We are always asked about our grand success in the reality sector and the answer is quite simple. We always put the interest of buyers and investors first.

“We sell the property at a lower price than the existing market price, giving the purchasers an option to resell them with profits. They can also rent them out. We seek a sustainable relationship with our customers, which was very much visible at our 43-storeyed J-Tower 2 Project and other series. Customers’ interest is vital for us in terms of fixing the price as well as ensuring the quality of services and facilities offered.

“We can also guarantee high-quality management of the facilities upon completion of the project. J-Tower 3 offers the best prices and best quality facilities. It is, undoubtedly, a world-class property fully matching international standards and gives the best asset value to the owner.”

The Japanese real estate exuded his confidence as he concluded his speech at the groundbreaking ceremony. “As a Japanese investor in the country and a leader of the Japanese company, I am proud and grateful to participate in a project that will make Cambodia great. Finally, I would just like to say that no matter what the problems we might face, or no matter what trouble may arise, we can succeed in building J-Tower 3!”

The groundbreaking ceremony was attended by many dignitaries including Long Vanheng, Heng KeoKalyan, Tep Sichantha, Lork Chhay, Nhim Kalreaksmey, Lork Chomteav Oknha Ang Daneth (all investors in the project). Tanichu Group Vice-Presidents Taing Typech, Kim Socheav and Voeun Chamnab also attended the ceremony.

According to the Ministry of Land Management, Urban Planning and Construction, more than 2,500 high-rise projects and over 500 borey projects were recorded in the country until last year.

“Between 2000 and November 2022, Cambodia has 2,534 high-rise projects, with buildings having five storeys or more, across the country. There are 1,675 high-rise projects in Phnom Penh, 685 in Preah Sihanouk, 131 in Banteay Meanchey and 43 in other locations,” the ministry said.

The ministry also granted licenses to 2,600 construction projects with a total investment of $4.96 billion within the first nine months of 2023.

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