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$35m Canadia project

A US$35 million housing project next to Phnom Penh International Airport will be completed by early 2011 and is nearly full, despite the economic downturn, a Canadia Bank official said Wednesday. Construction of Airway Complex City, financed by the bank, began in early 2009 and sits on 6.5 hectares of land in Dangkor District’s Chom Chao Commune, said Sok Sambath, a project manager at Canadia Bank. The complex includes 192 flats, 65 three-story connected houses and 32 luxury villas directly across the road from the airport. “We have already sold about 90 percent, and most of my clients are Cambodian businesspersons,” said Sok Sambath, who is in charge of commercial housing and construction. Prices range from $90,000 for the least expensive flats to $300,000 for the most pricey villas, and the bank has established payment schedules between seven and 10 years.

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