Friday, December 3, 2010

Phnom Penh Buckles Under Megagrowth

Developers "just do whatever they want," says Ching Chhom Mony, dean of architecture and urbanism at Cambodia's Royal University of Fine Arts in Phnom Penh. "Our city development is like a mistake now," he says.
Cambodian people pray with offerings near the Diamond Gate bridge, site of a stampede at the annual water festival late on Nov. 22 which left nearly 350 people dead. (Agence France-Presse/Getty Images)
DECEMBER 2, 2010
By PATRICK BARTA
The Wall Street Journal

PHNOM PENH, Cambodia—The deadly stampede in Cambodia's capital last week is drawing new attention to problems arising from the city's dramatic but pell-mell growth.

A real-estate and economic boom is transforming Phnom Penh from one of the least developed major cities in Asia—it began seeing its first skyscrapers over the past several years—into the unlikely site for plans to build Asia's tallest building. Prime Minster Hun Sen said in September that the 1,820-foot skyscraper, if completed, would trail Dubai's 2,717-foot Burj Khalifa, the tallest in the world, but surpass Taiwan's 1,667-foot Taipei 101, currently Asia's tallest.

Although some residents still doubt the tower will be built, developers have started work on other megaprojects, including four satellite cities that could involve billions of dollars in investment. They are also working on plans for a new stock exchange, a downtown marina and new international hotels.
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