Groundbreaking opens the next phase for Time Square 9 and 11

One event, two different central Phnom Penh locations

Time Square 9, also marketed as The Gatsby Residence, is planned for Street 278 in BKK1. Current IPS Cambodia project material lists 39 floors, 600 residences and one- to four-bedroom layouts. The June ceremony marked the start of the construction phase after the project's sales launch.

Time Square 11, also known as Time Castle XI, sits on Street 113 in BKK3 rather than BKK1. Market profiles consistently describe a 39-floor scheme with about 390 apartments, mainly one- and two-bedroom units. That geographic distinction matters because a buyer comparing prices or rental alternatives should benchmark each project against its own immediate neighbourhood, not treat BKK1 and BKK3 as interchangeable.

For practical context, see Cambodia economy and finance. This development also connects with Phnom Penh's Km 9 pumping station reached 90% completion.

The 2029 completion dates are still targets

IPS Cambodia lists Q4 2029 for Time Square 9 and June 2029 for Time Square 11. Other commercial project pages use slightly different 2029 timing, which is a useful warning against treating a marketing schedule as a fixed handover promise.

A groundbreaking ceremony confirms a visible project milestone, but it does not by itself establish that every future construction milestone will be met. The public material used for this story also does not provide a construction-permit number, so buyers should verify the permit and the contractual handover date directly in the transaction documents.

The buyer's contract carries more weight than the launch material

For an off-plan purchase, the practical checks are the developer entity named in the agreement, the land and project documentation, the construction permit, the ownership structure offered to the buyer, the payment schedule and the remedies if completion is delayed. A brochure can help explain the product, but it should not be the only basis for a legal or financial commitment.

The two groundbreakings add planned condominium supply to central Phnom Penh, but they do not establish future rental yields or price appreciation. Those outcomes will depend on the final acquisition cost, delivery, operating expenses, competing supply and actual tenant demand after completion.