Logo of Phnom Penh Post newspaper Phnom Penh Post - Urban Village Phase II project announced by HK’s Goldfame




Urban Village Phase II project announced by HK’s Goldfame

Content image - Phnom Penh Post
Hong Kong-based firm Goldfame Group on Wednesday officially announced the construction of Phase II of its Urban Village condominium project. Hong Menea

Urban Village Phase II project announced by HK’s Goldfame

Hong Kong-based firm Goldfame Group on Wednesday officially announced the construction of Phase II of its Urban Village condominium project.

The 51-storey second phase of the project is part of a $200 million investment by the firm and is scheduled for completion by the end of 2022.

The phase consists of four large buildings covering a total of 70,000sqm of land on the Factory Phnom Penh compound sitting along National Road 2 in Meanchey district’s Chak Angre Leu commune.

The project will offer 1,700 residential units, parks and a large car park.

Goldfame Group executive director Ben Li said the announcement of the new project comes following completion of the 23-storey Urban Village Phase I, with its units completely selling out.

‘Attractive to consumers’

He said Urban Village Phase II’s residential units will be attractive to consumers, while still offering reasonable prices, as its design is primarily geared towards buyers looking for a luxurious living space.

“With the additional height and an international standard of quality [in design and construction], the project will be an integral part of Phnom Penh,” Li said.

Through its experience constructing high-rises in Hong Kong, the firm wants to give Cambodians a taste of similarly luxurious living, he said.

Prices for the residences start from $1,600 per square metre, or more than $70,000 per unit.

The southern part of Phnom Penh, along the 60m wide Hun Sen Boulevard, is steadily becoming a popular place for residents to live and do business in.

Kim Heang, Regional Operating Principal of KW Cambodia, lauded the project as one of the capital’s most highly attractive.

“I think the project will be very successful due to its design and price. On the other hand, it is also located near the centre of Phnom Penh,” he said.

As of the end of the first half of this year, the condominium supply in Phnom Penh sat at 16,657 units and is expected to reach 31,000 units by the end of the year, a recent research report by CBRE Cambodia showed.

MOST VIEWED

  • School reopening to be postponed until November

    Minister of Education Hang Chuon Naron on Tuesday wrote to Prime Minister Hun Sen requesting a delay of school reopening across the Kingdom until November, when the new academic year begins. In his letter, Chuon Naron said the postponement is warranted to avoid the new

  • Foreigners in Kingdom must now register in FPCS system

    The Ministry of Interior’s General Department of Immigration (GDI) announced that it would not grant visa extensions to foreigners staying in Cambodia if their names are not listed on the Foreigners Present in Cambodia System (FPCS) by July 1. Foreign nationals can register in the

  • Covid-19 at ‘alarming rate’, health ministry says

    The Covid-19 risk level for individual transmission is at an “alarming rate” in the Kingdom and its probability is “not low”, warned Health Ministry spokesperson Or Vandine. “Cambodia’s coronavirus scenario is classified as being at an early stage of the pandemic because of ongoing

  • Mandatory quarantine for 30,000 workers begins

    Some of the roughly 30,000 workers from factories and enterprises across the Kingdom who went on leave during Khmer New Year began their government-imposed 14-day quarantine on Monday. Speaking at a press conference while visiting workers at the Phnom Penh Special Economic Zone on Monday, Ministry

  • Unemployed to get $40 per month

    The Ministry of Labour and Vocational Training has instructed enterprises, business owners and travel agencies in five provinces to prepare the proper forms for the suspension of employment contracts. This, it said, will make it easier for the ministry to transfer $40 a month to workers

  • Gov’t travel ban flouted

    While the majority of Cambodians have paid heed to Prime Minister Hun Sen’s order to stay put and not travel during the Khmer New Year – the holidays of which were also postponed – several hundred have left Phnom Penh nonetheless. They have allegedly breached provincial

  • G20 energy ministers struggle to finalise oil output cuts

    Top oil producers struggled to finalise production cuts during a virtual summit held by Group of 20 (G20) energy ministers on Friday, despite US President Donald Trump’s mediation efforts to end a standoff with Mexico. The final G20 communique appeared to gloss over simmering divisions

  • Kingdom revises travel restriction order

    The government on Friday eased the district and provincial border restrictions issued on Thursday. People are now allowed to cross districts within their provinces. Phnom Penh and Kandal province are to be treated as a single region where people are allowed to travel freely. In

  • Private schools struggling

    The Cambodian Higher Education Association has claimed that 113 private educational establishments are facing bankruptcy because of their inability to pay rent and staff salaries in light of nationwide school closures caused by the Covid-19 outbreak. It said the financial trouble started when the Ministry of

  • Khmer New Year holidays postponed

    In an effort to halt Covid-19 infections in the Kingdom, Prime Minister Hun Sen has postponed the Khmer New Year holidays scheduled from April 13 to 16. While the people will not have their usual break, nor will there be any public celebrations or gatherings at pagodas,