Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Little Paris comes to Koh Pich

Little Paris comes to Koh Pich

Little Paris comes to Koh Pich

Construction on a four-year, $150 million commercial and residential development that will transform 70,000 square metres of land on Koh Pich into Parisian-style apartments with a replica of the Arc de Triomphe at the centre is reportedly scheduled to commence in the coming months.

The Élysée, partially named after a boulevard in Paris leading up to the Arc de Triomphe, is the latest plan from the Overseas Cambodia Investment Corporation, the same group behind the ambitious 555-metre-high Diamond Island Tower. Details about the tower, advertised as one of the world’s tallest, are scant, though an official with the company said in May last year that engineers are studying the site before outlining a construction schedule.

The new French-style development will be located on the eastern edge of the island, in front of the $100 million commercial and residential project Elite Town (also from OCIC).

The Élysée includes 266 units spread over a number of nine-storey buildings, and is targeting local Cambodian buyers in an attempt to offer more flexible business spaces such as apartments, condominiums and hotels, according to the January and February issue of Phnom Penh’s Construction and Property magazine. In the issue, Samnang said that the sale of buildings within The Élysée will be aimed at middle class and “well-off” Cambodians.

While the project is still in the planning stage, Samnang told the Post yesterday that he envisions a combination of shops, apartments, condominiums and hotels populating the new precinct. “Each building will cost between $800,000 and $1.3 million . . . We are aiming to start selling next month,” he added.

The development was welcomed by deputy director at Vtrust Property Co, Chrek Soknim, who cited Phnom Penh’s increasing population and shortage of living space as rapidly growing concerns.

“There is a huge shortage of quality apartment accommodation in the city, and this project, if and when it is completed, will help to alleviate the pressure in [the] Phnom Penh city centre,” he said.

“In 10 years time, I hope Phnom Penh has many more large-scale developments aimed at the wealthy and foreign population.”

Soknim’s evaluation of Phnom Penh’s real estate climate were reflected in CBRE Cambodia’s latest market growth report.

Despite increases in both occupancy and leasing rates, the market is still subject to intense demand from the foreign population.

“Foreign nationals continue to boost the demand for serviced apartments in Phnom Penh, and with levels continuing to increase, demand will remain strong and absorb the new supply allowing rents to remain stable,” the report said.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which