The Gold Tower 42 building had its last beam put in place on Monday, officially signaling the end of a more than 10-year construction delay that started during the 2008 global financial crisis due to a lack of funds.

The 42-storey building, which at the time of its initial design was set to be the tallest building in Phnom Penh, was initially invested in by South Korean firm Yon Woo Cambodia Co Ltd.

The project was resumed after a decade delay when Yon Woo Cambodia Co Ltd signed an investment agreement with two Chinese companies – Shenzhen Hongtao Decoration Co Ltd and Macao’s Weimin Construction Engineering Co Ltd – in November 2017.

Another year

During the topping out ceremony on Monday, a Shenzhen Hongtao Decoration representative said the completed building will officially be launched early next year and its condo units will be open for sale in May this year.

Shenzhen Hongtao Decoration senior engineer Samuel said the building’s structure is finished and it will take another year to complete its interior and exterior design.

“Customers will come live here in the beginning of next year,” he said.

According to Samuel, the building’s name will be changed from the current one, with the new name to be “released at the launch of [the condo units for] sale.”

According to a previous report, Gold Tower 42’s condos are already 50 per cent sold after their initial release in 2008.http://www.phnompenhpost.com/business-post-property/gold-tower-nears-completion