The four towers that make up the Rose City Condominiums, located along the Tonle Bassac river, are now slated to complete in late June, following more than two years of construction.
Work on the $70 million, 29-storey Rose City began in 2008. The project, located near the new Sofitel Phnom Penh in the Chamkarmon district, is part of the larger Bassac Garden City development by Overseas Cambodian Investment Corporation (OCIC).
Rose City Condominiums is around 90 per cent complete, and is scheduled to finish this June or July, said Koh Pich Development’s Manager Touch Samnang, adding that this solely residential project has no office space for leasing.
Rose City’s marketing manager Souly said that its sales were going “smoothly”, yet she declined to say how many units had been purchased. “So far, it has been almost sold out,” Touch Samnang said.
Rose City is just one of OCIC’s small projects, and the company said it is beginning five other high-rise buildings on Koh Pich, such as Riviera. In the later project, there will be flats, malls, two 28-storey condos and three 38-storey skyscrapers with a 200 metre swimming pool on top of them.
The company also wants to erect a 555 metre-high landmark building, which would be the second tallest in the world, and says its groundwork is underway.
Soeng Bonna, president of Bonna Realty Group and the Cambodia’s Evaluator Association, said that Rose Condo sold out in 2009. Now, he said, buyers are just waiting to move in. OCIC’s residential developments were among the most successful projects in Cambodia, he said.