Cambodia Investment Review
A new milestone has been reached in Phnom Penh’s residential property sector as Time Square 6, also known as Time Square 302, officially completed its structural framework on March 10, 2026.
The high-rise condominium development, located in the Boeung Keng Kang 1 (BKK1) district, celebrated its topping-out ceremony with project partners, media representatives, and industry professionals in attendance. The milestone signals the completion of the building’s main structural phase and marks the transition into the final stages of construction.
Developed by Megakim World Corporation, Time Square 6 is the latest addition to the developer’s expanding Time Square condominium series, which has gradually built recognition in Phnom Penh’s mid-market residential segment.
Construction for the project began on December 27, 2023. With the main structure now completed, the development is moving into the next phase, including façade installation, interior finishing works, and mechanical and facility systems.
According to the current construction schedule, the project is expected to be completed and ready for handover to buyers in early 2027.
Expanding the Time Square condominium series
Time Square 6 represents the sixth project in Megakim World Corporation’s growing residential development series, which has focused on delivering centrally located condominium units aimed at both investors and urban residents.
Located along Street 302 in BKK1, the project is expected to become the tallest building on that road, adding another residential tower to one of Phnom Penh’s most established central districts.
BKK1 has long been considered one of the city’s most desirable residential areas due to its proximity to international schools, offices, restaurants, and commercial amenities. As the capital continues to grow and densify, the district has remained a focal point for both residential and mixed-use developments.
The Time Square series was initially designed as a long-term residential concept rather than a purely speculative development model, according to Megakim World Corporation founder Vladimir Palancica.
Speaking previously to Cambodia Investment Review, Palancica explained that the concept was shaped by his own family’s experience living in Time Square developments.
“From the start, the idea was not just to build a building, sell the apartments and make profits,” he said. “The main concept was to build something that can be a house for my family itself — comfortable, warm, good quality, safe and affordable.”
By living within the projects themselves, the developer has been able to observe how residents use the spaces and incorporate feedback into subsequent developments across the series.
Navigating changing property market conditions
The expansion of the Time Square brand has taken place during a period of significant change in Cambodia’s real estate sector.
Over the past decade, the property market experienced rapid construction growth, particularly in the condominium segment, followed by a period of slower demand and market adjustment after the COVID-19 pandemic.
Palanchika acknowledged that developers operating in Cambodia have had to adapt to changing economic conditions, financing environments, and shifting investor expectations.
“We try to adapt and make things go smooth considering the circumstances,” he said.
Despite market fluctuations, he emphasized that a long-term development vision remains critical when planning residential projects.
“Only a developer who can see the future can build and develop buildings that will still be on the market even after 50 years,” Palanchika added.
Industry observers note that Phnom Penh’s condominium sector is gradually entering a more mature stage, where project delivery timelines, construction quality, and developer credibility are becoming increasingly important factors for buyers.
Moving toward completion in 2027
With the structural phase of Time Square 6 now completed, construction efforts will shift toward finishing the building’s external and internal components over the coming months.
Exterior installation works, interior finishing, and the installation of mechanical systems are expected to continue throughout 2026 as the project moves closer to its final completion phase.
Show units have already been completed within the development, allowing prospective buyers and partners to review the layout, construction quality, and finishing standards ahead of the official handover.
Megakim World Corporation has previously maintained a development timeline of approximately three years per project across the Time Square series, a schedule that the company says helps ensure steady progress from launch to completion.
As Phnom Penh’s skyline continues to evolve, developments such as Time Square 6 highlight the ongoing demand for centrally located residential properties, particularly in districts like BKK1 where proximity to business districts, lifestyle amenities, and international communities remains a key attraction.
If construction proceeds as planned, the project will be delivered to buyers in early 2027, adding another completed tower to the growing Time Square residential portfolio in the Cambodian capital.
