According to developer Nuri D&C, the luxury condominium block De Castle Royal is still on track for completion within several months, with the official target set for May.
With most of the heavy lifting done, the emphasis is now is on essential “software”.
One piece of this is property management, which will be handled by CB Richards Ellis (CBRE), according to newly appointed De Castle Royal general manager for property development Jayson Lee, who has a long history in the business.
CBRE Cambodia property manager Simon Griffiths, who is engaged on the project at a pre-consulting level ahead of De Castle’s completion, told the Post in November last year that the luxury condominium development represented a “new level” for Cambodia.
The pre-consulting phase involves streamlining services and systems before they come into play. When that happens, Lee insists, De Castle will be the best-managed apartment complex in Phnom Penh, adding further value to market advantages, such as the fact it is located in the heart of up-and-coming Boeung Keng Kang I, more commonly known as BKK1, on Street 288.
“We chose CBRE because they have the experience,” says Lee, who adds that not only is it one of the world’s largest real-estate service companies, but also has extensive local experience, established by getting an early start in what was at the time an immature market. Lee cites local examples such as Phnom Penh Tower, which CBRE manages, and the company’s experience in far more mature markets, such as Hong Kong and Singapore.
“We should choose the best property management service for De Castle, and we expect CBRE to be the best,” Lee says.
“You have to have a good, experienced management team in place, not only to meet international standards that the property owners expect, but also to meet local Cambodian legal requirements,” he adds.
Meanwhile, the 32-storey building, which will house 414 residential units ranging in size from one to eight bedrooms, as well as parking for up to 474 cars, will also feature a host of other ground-breaking amenities for Phnom Penh.
Lee points to the radio-frequency identification (RDIF) cards that will provide security not only for the condominium development’s seven-storey garage but also for access to every floor of housing units, where doors will add another level of security to the overall complex.
“We’re also ensuring that every unit will have fibre-internet to the door, and we’re in negotiations with major telecommunications companies at the moment, so that when they roll out 4G in April-May, De Castle will be the first place to have 4G,” he says.
Lee adds that a “management app” is being developed, making it possible for condominium residents to apply for management services, such as cleaning and trash disposal, among other things, with a click.
“There’s a lot more,” Lee says. “The gym and swimming pool are going to be internationally managed so that they match the standards of the world’s best gyms, with trainers and activities.
“Basically, it’s all about setting new standards for Phnom Penh.”