Work is moving at a brisk pace on Borey Koch Asia, with 30 per cent of the multi-million-dollar project complete.

“Borey Koch Asia is a major development project in an onshore province,” Borey Koch Asia project manager Tous Saphoeun said.

The first phase of construction, which consisted of a supermarket, flats, villas, road system and gardens, has been completed, he said. The six-phase project has now entered its second phase, and work on flats, villas and a 17-storey hotel is 80 per cent complete, he added.

“This can compete with other projects in Asia in the future because its construction is focused on quality and attractiveness,” he said. “The project shines brightest in its infrastructure, quality, safety and location, which is close to the province’s commercial heart.”

Borey Koch Asia is being built on 62 hectares of land in Mittapheap commune, Preah Sihanouk province, and is at the centre of the Sokha, Ek Kareach and O’Cheu Teal beaches. One of the project’s biggest selling points is its sprawling, two-storey supermarket with a retractable roof. Each floor will house 500 stores and the centre’s parking lots will be able to cater to some 2,000 cars.

Saphoeun said all of the villas built in the first phase have been sold, while around 40 per cent of the flats have been taken. Fifteen per cent and 30 per cent of the flats and villas being constructed in the second phase have already been snapped up. Prices for the flats range from $13,000 to $15,000, and the villas from $200,000 to $300,000.

Three floors of the 5-star, 17-storey hotel have been built, Saphoeun said. He added that the hotel will be completed by the end of 2015, but he declined to give a finish date for the entire project.

Residential developments in Preah Sihanouk have been struggling recently as the supply of commercial developments has failed to rise to meet surging demand, according to Bunna Reality Group Co general manager Noun Rithy. Investors have bought large amounts of land there but the area’s status as a tourist hot spot means only projects like bungalows and villas, such as Borey BS, are met with interest, Rithy said.