Two years on from when most of Phnom Penh’s upscale condos collectively began construction, there has been negativity surrounding the sector. News of suspended projects such as TEHO International’s The Bay, and the ongoing start-stop construction of the legendary Gold Tower 42 building, have put downward pressure on the property market's health. That aside, many of the other condos are racing towards their respective dates of estimated completion. Post Property captured some of the key developments that have defined Phnom Penh’s high-end condo segment.
The Bridge’s huge twin towers have now reached 41 floors, with four more storeys to go until it achieves its planned 45 levels of residences, including SoHo (small-office, home-office) units.
With more than 1,500 units, The Bridge represents one of the most luxurious condo developments in Phnom Penh. It will also be the nation’s tallest high-rise apartment complex, for now.
WorldBridge Land has invested $580 million into The Bridge under Sear Rithy’s joint venture company Oxley WorldBridge.
In the northwest of the capital, Camko City’s major buildings, especially its five new buildings, have now successfully reached their planned number of floors. According to Ann Channy, sales manager of the development, the company will begin putting the finishing touches to both the exterior and interior of the buildings in early 2017.
“Among the five buildings, three of them are the highest buildings at 15 storeys each – the highest altitude in this area today,” said Channy.
“More than 300 large-scale housing units are housed in these three buildings,” he said, adding that once AEON Mall 2 is launched in 2018, CamKo City would have much more pull and appeal.
Located close to the Bassac riverbank in Koh Pich (Diamond Island), the first condo to be built on the island has now completed construction of its first – out of a total of five – buildings. The debut tower stands at 32 storeys, with 400 residential units waiting to be completely outfitted.
“Our construction team recently pulled down the green protective nets after the first building was completed,” said Banh Suly, D.I. Riviera’s sales manager.
“We have been decorating the interior design and installing other equipments in each unit. According to the schedule, we will completely finish and plan for the owners to be able to move into their homes either in September or November 2017,” she said.
Luxury condo Casa Meridian by Meridian Holdings is likely to be the first skyscraper in Koh Pich (Diamond Island) to tower over all other ongoing developments on the island. The condo will open its doors to its home-buyers by April 2017.
Casa Meridian is home to 33 floors of 512 luxury units, and stands at 122 metres. According to the company’s sales staff: “We are planning to offer Casa Meridian units to owners to move in in April next year, in conjunction with the Khmer New Year.
“So far, we still have a few remaining units only for new customers. The interior design team has been busy decorating and outfitting everything after completely reaching the end of construction earlier this May,” he said.
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