The $150 million multi-purpose tower, which is a joint venture between a local company and a well-known US hotel chain, began construction on Monday and is set to open in 2022.

The currently unnamed 45-storey tower, which includes the three-star hotel Fairfield by Marriott Phnom Penh, is located on Russian Boulevard, next to the 7 Makara flyover.

It is a joint venture between the Royal Field Development Company Limited, a subsidiary of Chip Mong Group, and the US’ Marriott International Inc.

Royal Field Development chairman Leang Khun said the partnership with the international hotel chain is a trend happening in line with the robust growth of the economy and tourism sector.

“The construction of the international and mixed-commercial building and Fairfield by Marriott Phnom Penh will make a significant contribution to Cambodia’s commercial and tourism needs,” he said.

‘Collaboration will improve’

Chip Mong Group Hotels and Hospitality division senior vice-president Simon Dell said the reason why Royal Fields Development chose Marriott International as a partner was that it is an internationally renowned company.

“We believe that the collaboration will improve without seeing any risks,” Dell said.http://www.phnompenhpost.com/business-post-property/royal-field-development-tower-begins-construction