Colonial Mansions becomes Central Mansions

Colonial Mansions becomes Central Mansions

Developer Hongkong Land has launched Central Mansions, a newly rebranded collection of serviced apartments and penthouses, in the heart of Phnom Penh’s commercial district, just to the north of Vattanac Tower.

The refurbished Central Mansions, which was previously known as Colonial Mansions, will offer 101 serviced apartments in two towers, with five luxury penthouses.

Leading members of the business community attended the launch event and Mr Y K Pang, chief executive of Hongkong Land, officiated at the ceremony.

Addressing guests at the ceremony, Pang said, “Hongkong Land is proud to make its mark here in the heart of Phnom Penh’s commercial district in line with our strategy of developing prestige properties in the cities where we invest.  We believe the Cambodian property market offers significant opportunities which will attract long-term institutional capital and international occupiers.”

Central Mansions is Hongkong Land’s first project since the company entered the Phnom Penh market in November 2011 with the purchase of a portfolio of properties. In 2011 the company paid $33.65 million for the portfolio of properties, and it has spent an additional $4.6 million on the refurbishment of the 12-year-old building.

The renovations began in June 2012 and it will not be fully completed until August this year, but the first phase is now finished. As well as a convenience store and a restaurant, Central Mansions offers residents a gym, two swimming pools, a crèche area and super-fast broadband internet.

The prices of the units ranges from $1,600 a month for a one-bed, $2,700 a month for a two-bed, $2,950 a month for a three bed, and up to $5,800 month for the penthouses.

The company is also developing a shopping mall and office complex nearby, which will break ground in the second quarter of this year. Hongkong Land is in the tendering process at the moment, and it is intended to be completed in 2016.

MOST VIEWED

  • Angkor Wat named as the top landmark for the second year

    Travel website TripAdvisor has named Cambodia’s ancient wonder Angkor Wat as the top landmark in the world for the second year running in their Travelers’ Choice Award 2018, an achievement Cambodian tourism operators expect will attract more tourists to the Kingdom. The website uses traveller

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Hun Sen detractors ‘will die’

    Prime Minister Hun Sen on Wednesday said those who curse or insult him would eventually die without a plot of land to bury their bodies after being killed by lightning, suffering the same fate as those who recently died in Thmar Baing district in Koh

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman