Canadia Bank Breaks Ground on New School

Canadia Bank on Tuesday broke ground on a new school building on Phnom Penh’s Koh Pich in a project estimated to be worth up to $5 million.

The president of Canadia and the Overseas Cambodia Investment Corporation (OCIC), Pung Kheav Se, participated in a ceremony attended by about 60 people to mark the start of construction on a new building for the Canadian International School of Phnom Penh (CIS).

OCIC deputy general director Touch Samnang said the company is investing between $4 million and $5 million in the four-story junior school building on Koh Pich.

Mr. Samnang said Mr. Kheav Se’s daughter, Pung Carolyne, who was present at the ceremony, was the owner of CIS—which has already established a pre-school in nearby Bassac Garden City. OCIC is partway through a massive extension—through reclaiming land—and development of the island.

Rows of luxury homes are already going up, the monumental Koh Pich City Hall is already built and two massive buildings already cater to wedding parties.

“Koh Pich has 100 hectares of land, but we took 3 hectares to construct the school and there will be three buildings,” he said, adding that the building that was started yesterday would take up about 9,500 square meters.

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