Monthly Archives: January 2015
Recently completed office building for lease along to Norodom blvd in Khan Chamkarmorn for lease from 1st Floor to 5th floor divide from 72 sqm up to 478 sqm with the reasonable rental and good environment. The lease term is flexible from 1year to 2years.
The ground floor is available for rent which is 168 sqm face to the main road and corner side. All the partition is glasses so it is very convenience for the coffee shop, retail business and banking.
The landlord will providing the carpet, installing the air-condition and lighting.
- The property is located from Veal Rinh Bay and past road number 3 about 6 kilometers.
- Beoung Raing Village, Samaki Commune, Prey Nob district, Sihanoukville.
- Agriculture land located near conjunction of road number 3 and road number 4. The property has a newly planted multi fruit plantations and a water source running through the land.
- Close to the Sihanoukville ocean port, airport and Sihanoukville Special Economic zone.
- Electrical lines already installed.
- Soil quality is suite to many planed such as black pepper. Currently planted are banana, pineapple, coconut, rosewood and dragon fruit.
- Venue: LMAP Hard Title
- Site Area: 107 Hectares
- Recent Planted :
– 75,000 Banana
– 30,000 Pineapple
– 300 Rosewood
– 10,000 Coconut
– 200 dragon fruit
– Vaious fruit including longan, avocado..etc.
PHNOM PENH CONDOMINIUM SECTOR SEES RISE IN RESALE VALUES
The condominium market in Phnom Penh continues to expand, with early investors in centrally located developments enjoying capital gains of up to 30% from early off-plan purchases.
Development activity of high-end condominiums looks set to continue in prime residential locations, with developers also looking to offer luxury projects outside of core residential districts.
CBRE has continued to witness strong interest from the wider Asia Pacific region, with increasing investment from Singaporean, Japanese, Hong Kong and Chinese residents. Although the comparatively high yield guaranteed by a number of leading developers is appealing to oversees purchasers, the main driver remains anticipated capital growth.
Currently, there are 35 Condominium projects in Phnom Penh, including both finished projects and developments currently under construction.
Q1, 2015 will see the sales launch and groundbreaking of Sovann Condominium, a 104 unit luxury development on Mao Tse Tong Boulevard, BKK1. Sky Villa Tower, comprising 254 units across two towers, is due to start construction by Olympic Stadium on Sihanouk Boulevard, with completion set for 2017.
Phnom Penh is experiencing a significant increase in supply, with De Castle Royal delivering 414 condominium units in Q3, 2014 and with Galaxy Residence having delivered a further 44 units in Q4, 2014.
Overall supply in Phnom Penh is due to increase by 533.75% by the end of 2018, driven by large-scale new projects such as D.I. Riviera and Olympia City, both currently under development by OCIC.
Sales of condominiums in Phnom Penh have traditionally been heavily marred by publicised failures of developments that have been sold off-plan and then subsequently ceased construction. Due to the successful completion of key new projects, such as De Castle Royal, this trend has clearly come to an end as confidence grows amongst domestic and international purchasers.
Early purchasers of off-plan condominiums, in successful schemes, have achieved healthy capital appreciation over the past year, with those who purchased in 2008 being in a position to resell for a premium of up to 30% over the course of 2014.
Achieved prices for high-quality condominium units range from $1,500 – $3,000 USD per sq.m in central areas of Phnom Penh. The Bridge, which is due to deliver a 762 condominium units, accounts for the upper figure.
Demand for condominiums is anticipated to increase and be met by supply over the course of 2015 through to 2016. The introduction of high quality projects in central locations will offer prospective investors an opportunity to acquire products that focus on the needs of a heavily expatriate driven area of the Phnom Penh residential market, as foreign nationals continue to require exclusive and up market accommodation in prime locations. Demand is also increasing from an ever more affluent domestic population, which is due to account for a notable proportion of purchasers over the coming years. Domestic demand is a key element of a successful condominium project, due to foreign ownership of an individual building being restricted by law at 70%.
Q1 2015 will see the launch of Sovann Condominium, a 104 unit luxury development located on Mao Tse Tong Blvd, BKK1, in addition to that of Sky Villa Tower, set to launch a further 254 units by Olympic Stadium.
The Q4, 2014 launch of Bhumi Emerald Condominium is set to deliver 47 luxury units located in the Toul Tompong area. The development will be set over 24 floors and is due to come on-stream in 2017.
Q3, 2014 saw the successful completion of De Castle Royal, which has set a new benchmark for quality in the market, further adding strength to the ever-growing sector. Comprising a total of 414 units, the project has been key in rebuilding confidence in the off-plan sales market.
CBRE note that a number of individuals, in addition to established developers, are making considerations towards the construction of further condominium developments. Whilst the majority remain focused on prime, central residential locations, it is likely that development activity will increase in secondary locations over the course of 2015.