The Now World City company is starting construction of its third phase at Camko City after its satellite city had suspended operations for a while.
Kim Duk Kon, the vice president of World City, said that the new project included building luxury villas, with 140 houses in R2 area, each from 300 to 600 square metres. The company would continue constructing seven condominiums, comprising 386 units and one supermarket.
“We believe the location of Camko City has the strength to compete with other projects. The construction must be clearly planned, different from some residential projects. The company will provide luxury, civilised, and safe residences, a supermarket, bank, hotel, conference hall, hospital, college and international school,” he said.
Kim said that more importantly for the area as a whole, would be the construction of infrastructure such as roads, electricity and draining systems that could avoid flooding at any time, gardens, waste water treatment and optical fibre.
“Our company was a leading company in residential design in the first phase, now we are improving our design to defend our dominance in the market. We will present the location of residency, views and other living facilities with a modern and unique style in our villa construction project,” he said.
If on schedule, the third phase of construction would be finished in mid-2015, but Kim added that this depended on prevailing market conditions.
He said Camko City was a big project and “well prepared for good, civilised living.”
“The short period is to change the one stop service serving the public and business. For the long term, we want to change the city Camko City to make it one of the good ones in Phnom Penh,” Kim said.
Currently, there are some 1300 settlers of mixed backgrounds, including Cambodians, Koreans, Chinese, and other people from many as 13 other countries living in the modern environment.
Camko City now has become an interesting location and the reconstruction of the satellite city and the sale of condominiums at affordable prices would make the project very lively, Po Eavkong, a managing director of Asia Real Estate Cambodia company said.
The construction of modern villas in the project was good because its location could compete with others, Eavkong said.
The environment around Camko City had changed unthinkably compared to the first stage of the development in 2005, when the area was developed rapidly with the building of the circle at the intersection to enter Camko city, with 30 metres to Streets 598, 355 and 1928, he said.
Cheng Kheng, a director of the CPL Real Estate company and president of Cambodian Valuers and Estate Agents’ Association, said Camko City, whose location was not far away from the city centre was in the second rank compared to Boeung Keng Kang I commune, could in the future be an area more attractive and was more expensive than Boeung Keng Kang I.
For the development of the satellite city, the company had set up good and modern infrastructure systems, Kheng said.
“If the construction of the satellite city is inactive, they will lose their faith but now the company restarts its construction, so everything is even better [with a] company which contributes to promote the image of our nation,” he said.
“The price of housing sales at the satellite city is reasonable compared with its neighbor projects, so I think when the city has completed all its projects; it will attract more people to live in the city,” Kheng said.