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15-storey condo breaks ground

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15-storey Vimean Keo Chornai condominium plan visited on the ground breaking ceremony. Photograph: Seun Son/Phnom Penh Post

Because of Cambodia’s current political stability, construction, including houses, villas, flats, buildings, and condos is mushrooming in the Kingdom’s cities and provinces.

The growth of investment in tall buildings continues; in particular, the development of the? 15-storey Vimean Keo Chornai condominium project to the south of the Phnom Penh was recently started, and will be completed in 2013.

On the occasion of the ground breaking ceremony of the Vimean Keo Chornai condo on July 14, owner Keo Maly said that  the 15-storey building  has 133 units and will cost $8 million.  

She said that she wanted all Cambodian people to have clean houses, like in the developed countries in the world, and customer’s tastes and preferences should be taken more into account, as the country’s economy continues to improve.

She said she believes she can sell all the units within six months, and said there are customers already coming to buy.

Vimean Keo Choronai condo is located on National Road No 1, Niroth commune, Mean Chey district, an area surrounded by condos, schools, hospitals and   banks, and is at the center of a government development project.

“The condo is an international standard building designed and consulted by international engineers from Thailand specializing in constructing tall buildings, and the company has many years’ experience in construction.”

Keo Maly said she has great confidence in the national economic situation: “I have enough of a budget - I don’t need to wait for deposits. I have confidence in myself, in my project, and I have a plan to build some international standard skyscrapers after this is completed,” she said.

She added that in addition to beautiful architecture, she has taken into account air, sunshine and the all-round environment for the whole building.

Man Sam An, permanent deputy prime minister, said that the Cambodian economic sector is developing so real estate and construction are increasing in tandem.

The deputy prime minister said that he hopes the investment company will be successful in developing and selling the project.

The deputy prime minister added that the project is happening while the government is paying more attention to improving the living standards of local people, and the government has an open market policy urging both foreign and local private developers to invest more in Cambodia, especially in real estate and construction for national development. “As a result, we have local and foreign investors to deciding to invest and to be successful in the sector,” he said.

Sung Bonna, the president of Bonna Realty Group and the president of the Cambodian Real Estate Evaluation Association, said that his company is  exclusively helping to sell the condo project, believing that the project has great potential and is in a good location.

“Just days before the ceremony customers were interested in putting down deposits to buy and own in this modern condo building,” said Sung Bonna.

To contact the reporter on this story: Seun Son at son.seun@phnompenhpost.com

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