The Point will be operational by the end of 2019.

The main part of the landmark building will be a six-storey community-bused commercial complex covering an area of more than 1 hectare ,consisting of 2,200 square metres of community-based commercial areas and 9,200  square metres of B-level office buildings.

Point is designed by Re-Edge, a native Cambodian designer. The ground floor can be used as a restaurant and convenience store. From the second floor to the top floor is an office building.

Thong Sovannrithy, owner of the Point developer 3DS Property Management Co., Ltd, said that although there are many office buildings in Phnom Penh, most of them lack supporting leisure, shopping malls and large parking lots.

"We're going to make The Point a gathering place outside of home and office," she said. "After work, they can go shopping and entertainment before they go home."

She said that the project will be based on environmental construction and through modern technology to meet the needs of people today's living requirements.

Point's announcement coincides with the demolition of office buildings near The Parkway to build new buildings.

Seatthy, director of CBRE Cambodia, a real estate company, said that economic growth had led the market into the era of B-class office buildings, which was a very good sign. Point will be very successful because of its location.

"I think the advantage of The Point is very obvious. Because nowadays, it is very difficult to find better housing and office buildings on Mao Zedong Avenue.

A CBRE Cambodian real estate study found that by the end of the third quarter of 2018, the total area of office buildings in Phnom Penh was about 360,000 square meters, an increase of 4.7% compared with the second quarter of 2018. It is estimated that by the end of 2018, the total office space in Phnom Penh will reach nearly 400,000 square meters.

According to the report, the current utilization rate of Grade A office buildings is about 68%, Grade B is about 90%, and Grade C is about 92%. For rental prices, Class A office buildings range from $28 to $38 per square metre, Class B from $18 to $28 and Class C from $10 to $18.