LA Vie Residences, a 17-floor condominium project located on Chroy Changvar Peninsula along National Road 6 has officially been listed on the market since last Tuesday, March 24.
Darren Yap, Director of Yuen Development, the firm behind the joint Singaporean and Cambodian venture, said that Chroy Changvar Peninsula has become an increasingly fertile place for investment due in part to its proximity to the city centre, while also being isolatated from the capital’s heavy traffic.
“Yuen Development is a residential and mixed-use developer that focuses on quality and design. The La Vie Residences will bring with it the Singaporean standard design,” said Yap adding the company plans to begin two new projects in the coming years.
“The potential for future development on the peninsula, is what encouraged our company to invest in La Vie Residences,” he said.“Chroy Changvar is a good location because it is sandwiched between two rivers that produce fresh and cold air.”
Before officially going on the market, 60 per cent of the180-unit building had already been sold, according to Katrina Karim, CEO of the public relations company Private Limited.
“Construction quality and the design of La Vie Residences has attracted many customers,” she said. “Accessories are well-branded products equipped in the La Vie Residences,” she added.
The groud floor is planned to serve as a lobby space, floors one to four are for parking, while the fifth floor shall host a gym, a swimming pool, and other spa appliances. The rest of the 12 floors are reserved for residential units and a garden on the rooftop.
According to a Yuen Development representative, the residential units will range from $100,000 to $200,000 per unit.
The project is underway and the developers are optimistic to complete La Vie Residences in 2017. La Vie Residences isn’t the only large scale project that is planned for the peninsula. Overseas Cambodia Investment Company is investing $1.6 billion in the Chroy Changvar Satellite City, and a Singaporean developer recently announced The Bay, a $500 million hotel and residential complex.