Logo of Phnom Penh Post newspaper Phnom Penh Post - High-end homes slated for Sihanoukville

High-end homes slated for Sihanoukville

High-end homes slated for Sihanoukville

A NEW luxury property development is under way in Sihanoukville with the US$40 million Hilton Park Villa, set for completion in 2010.

Built on a 13.8-hectare plot, the 324-unit housing project consists of 149 townhouses, 78 twin houses, 78 villas, and 24 hillside homes catering to the high-end segment, said the firm's marketing manager Socheat Yutharo.

The Hilton Park Villa is owned by four local business partners and started construction in May 9. Prices range from $73,000 to $335,000.

As businesses flock to the seaside resort town, demand for executive housing has increased.

The city's poor infrastructure has also helped fuel demand for pre-built residential areas like Hilton Park.

But high construction costs due to soaring steel and cement prices are forcing the project to increase prices.

"We will increase from seven to 10 percent ... by October because of the high price of construction materials," said Socheat Yutharo.

"We have just constructed the internal concrete roads, the gate and some building infrastructure. But we have sold about 60 percent of the units," he said, adding that most customers are from Phnom Penh and overseas Cambodians.

"The hotels and guesthouses cannot meet the demand of tourists in the high season, so what happens when investors, business people and engineers who come to work [in Sihanoukville] and in the economic zones need places to live?"

The company is also planning two condos on three hectares of land near the Hilton Park Villa, but have not yet determined the size of the investment.

Port development is making the town an increasingly important industrial hub.

MOST VIEWED

  • Ministry issues warning over coronavirus outbreak

    The Ministry of Health on Wednesday asked the public to be on “high alert” as a new virus wreaks havoc across Asia. However, no cases have been reported in the Kingdom thus far. The 2019 Novel Coronavirus (2019-nCoV) has raised the alarm for its similarity to

  • Call for boycott of Angkor unacceptable

    Dear Editor, I wish to express my strong disagreement on the article published by Traveller for their website with the title Best places to go in 2020: 12 destinations you should avoid. Below is my opinion of the article. It is obviously free for the Traveller to

  • Probe underway after wreckage of drone with Chinese characters found

    Air Force Command spokesman Prak Sokha said on Sunday that investigations are underway regarding the wreckage of a drone that was recovered in Koh Kong province’s Koh Sdech commune in Kiri Sakor district. The wreckage has been taken to the capital for further examination,

  • Gov’t slams UN rapporteurs over Sokha trial statement

    The Ministry of Foreign Affairs and International Cooperation and the Permanent Mission of the Kingdom of Cambodia to the UN Office in Geneva deplored the statement of three UN special rapporteurs who claimed that Kem Sokha’s trial was “tainted” due to irregularities. The reaction

  • No power shortages next dry season, says energy minister

    Minister of Mines and Energy Suy Sem has assured the public that Cambodia will not suffer power shortages during the next dry season. Speaking on local TV on Tuesday, Sem projected a rise in power demand during 2020’s dry season – which starts in November and

  • Gov’t takes steps to lower logistics, transport costs

    With the threat of losing trade privileges in the EU drawing closer, the government is taking measures to reduce logistics and transportation costs to safeguard the Kingdom’s competitiveness. The EU is due to decide whether or not to withdraw the Kingdom’s trade privileges