Logo of Phnom Penh Post newspaper Phnom Penh Post - Urban Village starts Phase II

Urban Village starts Phase II

Content image - Phnom Penh Post
Urban Hub (Cambodia) Co Ltd hosts a groundbreaking ceremony of Phase II of its Urban Village Condominium project. Heng Chivoan

Urban Village starts Phase II

Lieutenant General Hun Manet, the Deputy Commander-in-Chief of the Royal Cambodian Armed Forces and the commander of the army’s infantry, urged property and construction developers to focus on safety and risk management to gain the trust of buyers and investors.

Speaking at the groundbreaking ceremony of Urban Village Condominium Phase II on Wednesday, Manet, who is also the eldest son of Prime Minister Hun Sen, said the success of Phase I is reflected in the customers’ confidence in its quality, safety and good design, which highlight the developer’s efforts.

“I encourage all project developers to focus mainly on quality, safety and risk management to avoid the risk of an accident.

“Development of the construction sector contributes to Phnom Penh’s urban development goals and the country’s economy in the long run,” he said.

Ben Li, the executive director of Urban Hub (Cambodia) Co Ltd, the project’s management arm, said his company complies with safety standards and mixes architectural elements, which contribute towards their renowned designs.

These were essential in gaining public trust, which led to the success of Urban Village Phase I.

“Phase I was sold out as people have faith in our project,” Li said, adding that occupancy is currently around 40 per cent.

“Some 70 per cent of our customers are locals, though our condominium clientele is quite diverse. Our slogan is ‘Affordable Luxury’,” he said.

Li said the 51-storey Urban Village Phase II will be built on 760,000sqm and comprise 1,700 units. Construction is set to be completed by the end of 2022.

His target customers are people from Japan, Hong Kong, Europe, and the US, but most importantly – locals, he said.

Manet said there has been remarkable growth in the number of both local and foreign investors in the construction sector over the last few years and he hopes it will continue this year.

Content image - Phnom Penh Post
Lieutenant General Hun Manet.

“Cambodia is among the main regional destinations for the construction of properties due to economic growth, a rise in the people’s income, political stability and proper regulation to manage the sector.

“Investment in the construction and property sector over the last 10 years has proven business to be very profitable, and this is just a start,” he said.

The Ministry of Land Management, Urban Planning and Construction last year granted permission for 4,446 construction projects, worth some $9.353 billion, on a total area of 18.54 million square metres, it said in a report.

In 2018, there were 2,867 construction projects on 11.42 million square metres, worth around $5.228 billion, it said. Construction investment capital last year increased by 78.88 per cent over 2018.


  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • Hun Sen gets 4th Covid shot, urges compatriots to follow

    Prime Minister Hun Sen and his wife Bun Rany on January 14 received their fourth dose of Covid-19 vaccine and called on compatriots to follow suit as the Omicron coronavirus variant continues to spread in the community. This marks the launch of Cambodia's fourth-dose vaccination campaign,

  • Fourth dose Covid booster drive jabs 43K in two days

    In the first two days of the fourth-dose Covid-19 vaccination campaign, more than 43,000 people volunteered to get the jabs, while over 4.6 million people have received a third shot. Health ministry spokeswoman Or Vandine said that fourth-dose vaccinations, which began on January 14 exclusively with the Pfizer

  • Singapore backs Cambodia's efforts on Myanmar

    Singaporean Prime Minister Lee Hsien Loong supports Cambodia in its efforts to seek a solution to the ongoing Myanmar crisis as the chair of ASEAN. Lee expressed his support during a meeting with Prime Minister Hun Sen via videoconference on January 14, with the talks focused