Our post on Phnom Penh’s Real Estate Rise created a lot of traffic from interested investors looking to find more info about Cambodia. Therefore we have knuckled down to find some interesting developments worth watching.
1. Gold Tower 42
We touched on the Gold Tower 42 development in the our Cambodian post. But here is a little more information to keep you informed.
Being built as the first ever skyscraper in Cambodia, Gold Tower 42 is a 42-storey tower and currently under construction on the Sihanouk Blvd along the way to the Lucky Super store.
Construction started in July this year and the building will be 3 times higher than the tallest building in the country right now. As of September, about 60% of the development has already sold out if we are to believe a recent article.
The tower will feature state of the art technology, a high tech security system, walk in closets, fully fitted kitchens and all the usual luxuries that can be expected from a $240 million development.
Investors can choose from varying sized units, ranging from a 153 square meters, three-bedroom apartment to 336 square meters for a five-bedroom, with prices ranging from $460,000 to $1.6 million.
- Expected completion: 2011
- Developer: Yon Woo Cambodia
2. International Finance Centre
The 52-storey International Finance Complex will consist of 737,000 square meters and cost a whopping $1 billion. The project will include a main office tower which is 53 storeys tall, making it the tallest building in all of Cambodia once completed. This tower will be surrounded by 6 smaller steel and glass buildings, each standing 32 floors tall. Overall there will be housing for an international school, a conference center, 1,064 apartments and 275 serviced apartments.
Construction started in June this year and will be completed in 2012. The site is located between West-Sothearos Street and East-Riverside Road. Conveniently close by is the National Assembly Building and the Royal Palace.
- Developer: GS E&C in Cambodia
- Expected Completion: 2012
3. De Castle Royal Condominium
De Castle Royal uses the latest in architectural technology to provide investors with the highest standards of living and security in a convenient inner city Phnom Penh location. The development is situated in Boeung Keng Kong area, Chamkamorn District, Phnom Penh City. Building started in April this year and is expected to be completed by April 2011.
State of the art living can be enjoyed in the 33-storey condominium tower from a range of luxuriously fitted apartments. Dishwashers, drum washing machines and self cleaning toilets are as much part of the design as are home automation that allows you visibly screen every visitor before opening your doors, high speed Internet access, infra-red-ray perimeter security scans, digital door locks and so much more.
There is even a driver waiting room on each floor of the residence car park to ensure you will be picked up swiftly.
De Castle Royal will be fit for a king or sultan with its multiple sized luxury apartments.
- Developer: De Castle
- Expected Completion: April 2011
4. Camko City Phase 1 – 10 apartment buildings
Camko City is to date the biggest foreign investment ever made in Cambodia. The $2 billion development consists of 10 apartment buildings as part of their phase 1 project. Camko City is being built on the northwestern outskirts of Phnom Penh on a 119-hectare site.
Commencement started back in 2005 and is scheduled to be completed in 2018. It will include residential, commercial and public structures.
There will be swimming pools, a club house, play grounds, a gymnasium a daycare centre, a hobby room and more to entertain the whole community while street shopping malls provide residents with retail therapy.
Sufficient parking lots will ensure residents will not run out of parking space. For the technology geek, there is high speed Internet as well as a stable electrical system to provide full coverage.
It will be a city within a city providing residents with ecological walkways and garden to enjoy the serenity.
- Developer: World City of South Korea
- Expected Completion (Phase 1): 2009
- Expected Completion (Phase 2): 2018
5. Grand Phnom Penh International City
Grand Phnom Penh International City was initiated in 2006. It will be the first inner city development in Cambodia to offer both low and high rise residential complexes. There is also a planned commercial complex, as well as a hospital, education and an international 18-hole golf course designed by Nicklaus Design, USA.
The development is located in the northwestern part of Phnom Penh and will consist of 260 ha. It will be its own satellite city and provide residents will all amenities to enjoy first class living in an upmarket town.
With some of the residential low rise units already delivered we are uncertain about the actual completion date for this development.