The Long-stalled Skyscraper, Gold Tower 42, To Resume Its Construction

Phnom Penh─ The long-stalled, million-dollar skyscraper, Gold Tower 42, has once again announced about resuming its plan for further construction.

It has been reported that the Korean developer of Gold Tower 42, Yon Woo (Cambodia) Co. Ltd. has recently signed an agreement with other two companies in order to continue the construction of the Gold Tower 42 project next year, expecting to wrap it up by 2019.

Apparently, the two companies that have signed the agreement to help finishing the project are the Shenzhen Hongtao Decoration and the Waiman Construction & Engineering.

Gold Tower 42 is a $240-million skyscraper project which was initially started in 2008, aiming to establish a 42-story-high building with spaces for office, retail, and condominium units. However, the construction was halted in 2009 due to the funding shortage caused by the global financial crisis.

The long-stalled, million-dollar skyscraper, Gold Tower 42 in the middle of Phnom Penh, Cambodia

Since then, the construction has been intermittent, stop-start for years, with the building site remaining dormant since 2013. There have been several rumors about the continuation of this project over the past few years, however, there was still the lack of progress in its construction.

Gold Tower 42 was originally set out to be among the first and the tallest skyscraper with 192 meters of height and 42 floors, of which the skyline had been kept low back then in the capital. Hopefully, with this recent agreement, the project will finally resume its construction with no more suspension.

Yon Woo (Cambodia) Co., Ltd signed an agreement with other two companies to continue Gold Tower 42 project