The New Central Market (Phsar Thmei) was constructed in August 1935 and completed in June 1937 with assistance from the French Republic, during the reign of His Majesty King Sisowath Monivong.
The architect of Phsar Thmei was a French national named Jean Dubois, and the Indochina Saigon Company constructed the market.
From April 1975 until early 1979, the market was completely shut down due to the Khmer Rouge genocide. During that time, it was used as a fertilizer warehouse, and coconut and banana trees were planted around it. As a result, the New Central Market suffered significant structural damage, and the surrounding infrastructure was almost destroyed.
On January 7, 1979, Cambodia was liberated from the Khmer Rouge genocide. At that point, the country began to restore its economy, and Phsar Thmei was gradually reorganized into a commercial center of Phnom Penh.
As Phnom Penh continued to develop across all sectors, particularly with strong economic growth potential, the New Central Market building was officially designated as a historical heritage site of Phnom Penh.
Due to cracks and water leakage in some areas of the market building, on October 25, 2004, the Phnom Penh Municipality, in cooperation with the Ministry of Economy and Finance, signed an agreement with the French Development Agency (AFD), which provided a loan of 4.5 million euros to restore and renovate the market.
On January 27, 2009, the renovation work began. The construction contractor was Villa Parc Engineering, the technical consultant was Kosan Engineering, and Arte Engineering Architectes handled the architectural design.
The restoration project lasted 25 months, with a total cost of USD 5,044,512, resulting in 3,163 stalls, along with more than 1,400 mobile vendors.
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