Gold Tower 42 to resume construction next year

Controversial Gold Tower 42 will resume construction early next year and is expected to be completed by the end of 2019, according to an announcement made by the developer on Wednesday. The project, developed by Yon Woo Cambodia, began in 2008 and has already been delayed three times: first in 2009, again in 2012, and again in 2013. Despite these postponements the tower has reached 31 floors. Yon Woo Cambodia has recently reached an agreement with Shenzhen Hongtao Decoration and Waiman Construction & Engineering to complete the project. The company has so far invested $100mn and will spend another $140mn to finish, according to president and chairman of Yon Woo Cambodia. However, Chrek Soknim, CEO of Mekong Century21, and Po Eavkong, managing director of Asia Real Estate Cambodia, doubted that construction would resume despite the latest announcement. (Source: Khmer Times)