Cambodian and Japanese investors sign agreement to develop 77-storey "J-TOWER 3" – Kingdom's tallest building
| Publication date 08 May 2023 | 11:04 ICT
WH CEO Nhim Reasey and Ang Daneth signed a joint venture agreement with Tanichu Group to develop the “J-TOWER 3” condominium building in Phnom Penh's Boeung Keng Kang I – at 77 storeys and 320 metres, set to be the tallest building in Cambodia.
Speaking at the signing ceremony for the joint venture investment agreement on May 3, 2023, Nhim Reasey, the CEO of WH, said: "We have partnered with Tanichu Group to develop this 77-storey condominium building because we have witnessed the developer's significant achievements.
"Tanichu Group's past development projects such as J Village, J City, J Tower 1 and J Tower 2 have been very successful, with remarkable sales."
The "J-TOWER 3" project, with its versatile facilities providing a modern and convenient lifestyle option, will enhance the image of Cambodia both regionally and internationally, he added.
Ang Daneth and Dr Nhim Kalreaksmey, a WH Company board member, said in a joint statement: “This project is a fantastic opportunity for investment that will provide favourable returns, whether investing for increasing value or rental return.
"Many Japanese and foreign investors have already expressed significant interest in the project, and our goal is to allow local investors to reap the rewards of such a great opportunity, as well as benefit from comfortable accommodation in keeping with a modern lifestyle."
Tani Shunji, CEO of Tanichu Group, said the 77-storey "J-TOWER 3" condominium, at a height of 320 metres, will be the tallest building in Cambodia and the eighth tallest in Asia.
"According to research on high-rise projects in Asia, J-TOWER 3 will be the eighth tallest building in Asia when completed," he said.
He added that J-TOWER 3, being built with a focus on comfort, will have a sky bar and infinity pool on the 77th floor – the highest pool in the world – and provide 24-hour security.