Makro granted approval to build Siem Reap commercial centre
Thai cash-and-carry brand Makro is set to build a large development in Siem Reap.
The Council for the Development of Cambodia has approved the building of a Siem Reap commercial centre which will be anchored by Makro.
Associate director of CBRE Cambodia James Hodge said that the development reflects the modernisation of the national retail market that is following in Phnom Penh’s footsteps to develop a modern format retail to meet consumer demand.
“Certainly a provincial town or city that benefits from high numbers of tourists will also interest retail developers. They see an opportunity to tap into another source of potential customers,” he said.
Costs for developing the mall have been estimated at US$19 million, and will involve the creation of 179 local jobs.
Regarding the impact on local businesses, Hodge said: “Businesses may respond by considering prices, the quality of the service or environment they offer to customers. Usually competition is a good thing for consumers as it ensures businesses remain up-to-date and listen to customers in order to remain relevant”.