Understanding 8 Condo Projects in Phnom Penh to Be Completed in 2022
Despite the adverse effect of the Covid-19 pandemic on Cambodia’s real estate sector, some condo developers have not shown sign of postponing their projects, but instead are striving to complete on-going projects to gain their customers’ confidence.
Among them are wealth Mansion, Morgan Enmaison, Royal Platinum Condo, Parc 21 Residence, Prince Huan Yu Center, La Vista One, Agile Sky Residence and Arakawa Residence. Below are details of each project which is scheduled for completion in 2022 and early 2023.
Wealth Mansion
Wealth Mansion is a 45-storey condominium project developed by Everhealth International Investment Development Co., Ltd. Located in Chroy Changvar commune, Chroy Changvar district, the project began construction in 2019 and is scheduled for completion at the end of 2022.
With the height of 166 meters, Wealth Mansion comprises a total of more than 1,300 residential units. The project has been 80 percent completed with price starting from $100,000 dollars per unit and GRR rate of 7 percent per annum.
Morgan Enmaison
Morgan Enmaison is a large condominium project comprising five buildings located in Chroy Changvar district – Phnom Penh’s fast-developing area with two rivers conducive for residential living.
Developed by Morgan Jovan (Cambodia) Real Estate Development, the project is built on a land area of 2.4 hectares with a total floor area of over 400,000 square meters. Of the five of its buildings, two apartment buildings have 48 floors while the other three buildings have 54 floors.
With price starting from $1,700 per sqm and GRR rate of 6-8 percent per annum, each condo unit overlooks the beautiful view of the Mekong River. So far, building 2 and 7 has been 70 percent completed and is scheduled for completion in 2022. The entire project is expected to be finished in 2023.
Royal Platinum Condominium
Royal Platinum Condominium is a 28-floor mixed-use project developed by Royal Hong Lai Huat One – a joint venture of Royal Group and Singapore-owned Hong Lai Huat Group. The project is located in Boeung Kak I commune, Toul Kork district with a total of 851 apartment units and 50 shophouses, covering a total of 100,000 square metres.
It began construction in May 2019 and is scheduled for completion in August 2023 with price starting from $120,000 dollars per unit. Currently, the project has been 50 percent completed, achieving 12-floor completion.
Parc 21 Residence
Located in Boeung Trabek commune, Chamkarmon district, Park 21 Residence is a 22-floor condo project comprising 132 residential units. Developed by JV Park Residence Co., Ltd, the project has been 80 percent completed with price starting from $1,750 dollars per sqm and GRR rate of 7 percent per annum for two years. Park 21 Residence is set for completion in 2022.
Prince Huan Yu Center
Prince Huan Yu Center is a 39-floor mixed-use project located in Tonle Bassac commune, Chamkarmon district. The project is developed by Prince Huan Yu Real Estate Group on a land area of more than 7,000 sqm.
Comprising a total of 1,710 residential units, the project started in January 2019 with price starting from $91,000 dollars per unit and GRR rate of 8 percent per annum for three years. The project has been 100% completed and is ready to move in June 2022.
LA VISTA ONE
LA VISTA ONE is the 41-storey condominium project located in Chroy Changvar district – the fast-developing area with more development potentials. Standing at the intersection of the two rivers: Mekong and Tonle Sap, the project is expected to be the landmark development in the area upon its completion.
Comprising more than 1,600 residential units from one to three bedrooms, LA VISTA ONE has the unparalleled panoramic view of the two rivers, making its dwellers feel fresh and joyful. Each unit starts from $130,000 dollars per unit with GRR rate of 6-8 percent per annum for three years. The project has been 70% completed and scheduled for completion in early 2023.
Agile Sky Residence
Located in Preah Monivong Blvd of Boeung Keng Kang 3 commune, Boeung Keng Kang district, Agile Sky Residence is a 44-storey residential project comprising 963 units, each starting from $1,880 dollars per sqm or $70,000 dollars per unit.
Agile Sky Residence is developed by Agile Group Holding Limited – a top 10 developer in China. The project offers a GRR rate of 6-7 percent per annum with flexible payment terms. It has been 100 percent completed and is ready to move in October 2022.
Arakawa Residence
Arakawa Residence is a state-funded, affordable condo project located in Teuk Thla commune, Sen Sok district. The 21-floor project is developed by Japanese Arakawa Co., Ltd with a total of more than 2,960 units. Each unit starts from $28,000 dollars with installment payment of $300 dollar per month. The project has been 70 percent completed and is scheduled for completion in 2022.
