After the success of its first project, the Shangri-La Garden City, Sen Sok Condo Company is beginning its second project along Road 595, located two kilometres north of the 7 Makara Sky Bridge.

Construction on the second project, called Maldives City, has begun, and the company started selling the units two weeks ago.

Marketing Manager Chim Sothea said that the 16-storey Maldives City, which covers 4,334 square metres, is scheduled to finish in late 2014, and will cost about $15 million.

“Maldives City will succeed because it is has no equivalent in Phnom Penh, with its focus on construction quality and the environment, while its interior design was made perfectly by Camel Lo,” he said.

Though condos are not popular currently among Cambodians, the demand is high among foreigners.

Sen Sok’s sale representative for Maldives City, Joe Wu, said the new project consists of 312 housing units, with two floors of parking, as well as a gym, a sauna and a large swimming pool, with the fifth to 16th floors designated as living units.

“The Maldives City is selling well; in only the first 15 days, we have sold 100 units. We can sell many units in a short period because clients are confident in our construction and design, and the company can help clients who have a shortage of finance by cooperating with banks through installment buying with a nine per cent interest rate per year for 10 to 15 years,” he said, adding that the prices ranged from $51,000 up.

The company’s first project, Shangri-La Garden, with 135 housing units, is scheduled to finish in June this year, Sen Sok sales manager Sam Soknoeun said.

He added that the first project has 80 per cent of the units on offer and he believes that it will quickly sell out entirely because some customers will buy units as soon as the construction finishes.