Logo of Phnom Penh Post newspaper Phnom Penh Post - OCIC begins work on Chroy Changvar satellite city

OCIC begins work on Chroy Changvar satellite city

A bridge under construction over the Tonle Sap.
A bridge under construction over the Tonle Sap. Moeun Nhean

OCIC begins work on Chroy Changvar satellite city

OCIC unveiled plans this week for their “City of the Future” satellite city in Chro Changvar featuring a commercial center and a mixed-use housing development.

Touch Samnang, CEO of OCIC, said the company is currently constructing the foundation for the 20-storey commercial center. Next year, the company will start on the apartments, office space and mall portion of the development.

“Up until now, the company has already begun to sell the apartments, and the starting price point is about $200,000,” he said, adding that in the first stage of the projectis being built on 3 hectares of land. Overall, investment capital in the project is $20 million.

Chroy Changvar and the area along National Road 6A have enjoyed rapid development after the Chroy Changvar 2 bridge was completed. These areas host a large number of boreys that are currently under construction, including Borey Peng Huot, Borey Mekong Royal, Borey Orkidae, Borey Plaza and Borey Vimean Phnom Penh, all of which have been marketed as residential projects with suitable prices.

OCIC is currently building two additional bridges connecting the area to Phnom Penh. One will be a “ballet” bridge, which will take six months to complete, and the other will be a suspension bridge, which will take 24 months to finish.

Serey Ping, director of Cambodia Angkor Real Estate, said developing satellite cities is a good move because it helps improve the land value and economic activity in the area. Additionally, more satellites may ease traffic congestion and environmental pollution in the city.

“Cambodia needs more satellite cities to expand its development and to encourage people not to aggregate in one place. Not to mention, it can boost the improvement of the real estate sector,” he said. “I think that this project will succeed, because it’s situated in a location with great weather, with two rivers running on both sides.”

MOST VIEWED

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • UN ‘overstepping mandate’

    Cambodia's Permanent Mission to the UN (CPM) denounced statements put out by the UN Office of the High Commissioner for Human Rights (OHCHR), accusing the entity on Monday of violating its own mandate. The statement, made on May 11 by the spokesman of OHCHR, expressed disappointment

  • Endangered animals found dead in Pailin

    An endangered gaur was one of “many” wild animals found dead in “dozens” of illegal traps in Pailin province’s Phnom Khieu Wildlife Sanctuary, said Chit Thy, a military officer working with rangers to protect the conservation area, on Wednesday. Thy, an officer in the 507