Phnom Penh properties are getting smarter
Phnom Penh properties are getting smarter
This project is set to be as technologically enhanced as it is green
A gated community of “hotel-style” villas in Phnom Penh’s Meanchey district will come equipped with several smart home technologies of the moment.
Borey Woodland, a USD70 million partnership between Cambodian developers Furi Real Estate and Naki Group, will feature “concepts that are new to boreys,” including electronic controlled doors and a personalised telephone for 24/7 delivery service.
Designed by Singapore’s Ong and Ong Architects, the project will break ground next month, the Khmer Times reported.
Sprawling for seven hectares along Hun Sen Road, the development will allocate 45 percent of its lot to green spaces; hedges will serve as perimeter fences. A shopping centre will be built onsite, along with other amenities such as a sports house, restaurant, gym, and café.
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Borey housing is proving quite resilient in Cambodia, which is grappling with an oversupplying market. Sales of borey developments plunged only 30 percent in the first half of the year, compared with 50 percent for condominiums, according to a Ministry of Finance report last month.
Buyers of borey developments tend to be occupiers and not just speculators. “The demand from this new generation of buyers is more stable and hence could act as a shock-absorber in case speculative buyers suddenly withdraw,” the report stated.
The first phase of the borey project offers 99 villas, with prices ranging from USD190,000 to USD400,000.
“Investing in high-end villas around the price range of USD100,000 and more are still in demand because the income of Cambodian people keeps increasing,” Huy Vanna, secretary of the Housing Development Association of Cambodia, told the Phnom Penh Post.
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Source: Property Report