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Logo of Phnom Penh Post newspaper Phnom Penh Post - Riviera project on schedule

Riviera project on schedule

3 Riviera

The groundwork is continuing on schedule on the the $700 million Riviera high-rise building on Diamond Island, according to an officer of builders OCIC.

Chin Hok, the manager of the Riviera project, said that for two buildings of 28 stories and three of 37 storeys, the groundwork is 10 per cent complete, but for the groundwork of the 37 storey building with a swimming pool on top has been suspended because Friendship International Development is looking for a partner from China in the project to continue the construction of the three buildings.

He added that in addition to these high-rise buildings, OCIC plans to complete the flats and the five-storey department store in mid-2014.

He said, “This project is moving smoothly even as the company cooperates with OCIC to find a new company to construct the buildings. I think Friendship International Development has found a  construction company, and they want to resume in June or July.”

Keo Sothy, the assistant to the general director of OCIC said that this project is progressing while Friendship International Development is looking for partner to continue the buildings in the project, and the project will be completed in 2017  as planned.

He said, “I believe that this project will be 100 per cent successful because this project is in a good location, and Cambnodia has good political stability and strong economic growth, with a particularly good real estate market.”

DI Riveira occupies some 330,000 square metres, including flats, a department store, five big condos and a car park that can hold 2,000 cars.

Pong Khieng Se, the chairman of the board of directors of Canadia Bank and the general director of OCIC, said that DI Riveria operated smoothly.

He said that initially this one project was drafted by Koh Pich Development Co, but later two companies, Investment Combo and Friendship International Development from Guongdong province, China, joined the partnership, which is valued at $700 million.

Pong Khieng Se said “DI Riviera is a big project that will be successful and customers  who want to buy will have the opportunity to receive a lot of profit because the price will keep going up.” However, he did not specify the price of units in the project.

Banh Souly, the sale executives for DI Riviera did not answer the phone when Post Property tried to contact her.



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