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Logo of Phnom Penh Post newspaper Phnom Penh Post - Koh Pous group puts first island villas on market

Koh Pous group puts first island villas on market

LUXURY homes slated for the US$1 billion Koh Puos development off the coast of Sihanoukville have been put on sale and are already attracting interest, according to the island’s developer.

The firm behind the Morakot Island resort put 36 forthcoming sea-front villas on the market this month, according to Marina Khrisanova, director of sales and marketing for Koh Puos (Cambodia) Investment Group.

With a square metre starting at $2,000, the homes will range from 450 to 570 square metres each – making each property worth at least $900,000.

An official from the company confirmed the villas are part of phase one of construction, set to begin early next year.

“Our clients are Cambodian and foreigners, from middle and high classes,” Marina Khrisanova told The Post.

“A few villas have been reserved by high net-worth individual clients.”

The company is confident they will attract interest and is backing Sihanoukville’s potential as a destination.

“We strongly believe in Cambodia’s economic potential. Sihanoukville is also rapidly becoming the next hot tourist destination nowadays,” she said.

The development of Sihanoukville has hit headlines in recent months, with developers and real estate agents along the coastal region, including Song Saa island resort developer Rory Hunter, calling for action to create regular flights to the coastal hub’s airport – or risk the tourist development on the coast. Nevertheless, KPIG is confident about the future.

“We’re going to build 140 villas as part of the project,” said Saing Heng, assistant to Koh Puos project director Andrew Halturint, yesterday.

Construction of low-rise apartment buildings, as well as island utilities, infrastructure and a ring road are also due as part of phase one, due to start next year. A $31 million bridge linking the island to the mainland is also 70 percent complete and is due to finished in June.

Sung Bonna, president of Bonna Realty Group, said yesterday that the island had potential, but warned marketing the homes may have come early.

“It is the best location. In term of timing, it seems early. If they started sales next year, it would be best,” he said.

The massive development has been planned since 2007. Future phases will see hotels and a casino build, according to the project’s plans.

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