The luxurious Embassy Residences project, named for its location right in the heart of Phnom Penh’s diplomatic district, will officially launch at the end of October. Construction of the high-rise residential complex, located on Street 41 in Tonle Bassac, is expected to be completed by the fourth quarter of 2016.
The development is the product of a close partnership between developers UrbanLand Asia and Hok Kang Architects, who are behind a host of successful local projects including Brown Coffee.
This is the first time the two firms have worked together, according to Hok Kang, the managing director of UrbanLand Asia and founder of Hok Kang Architects, who said he was excited about the possibilities the close collaboration brings.
Typically, architects commissioned by developers for new buildings dream of grand designs and luxury interiors but are held back by develops keen to cut costs and increase profit margins, Kang explained.
“With the developer also being the architect, there is no compromise on quality,” he said. “This is apparent when you visit the showroom of the Embassy Residences. Only the highest quality European materials and top-of-the-range fittings will be installed and used to decorate the project.”
The building will consist of 18 floors with four underground parking levels, extending over 1,287 square metres of land. Units will include suites of between one and three bedrooms, duplexes and penthouses.
With only 85 units, this dev-elopment is significantly smaller than other comparable residential buildings in the city, which sometimes have as many as 500 units, Kang said.
The aim is to ensure more space and better amenities for the residents: the building boasts an infinity pool, garden, gymnasium and children’s play centre. There will also be a dedicated 24-hour concierge and security for the building.
Kang believes that the Embassy Residences can stand out in what he knows to be a competitive market: “Related to the market strategy, we have to make our product better than the others, so design, interior design and the quality of construction materials need to be excellent.”
Net prices for the properties start at $2,200 per square metre, which, he said, is reasonable given the quality of the development and its location in an area that is central but also peaceful and green.
Edgars Arajs, sales manager of the project, agreed with Kang’s assessment of what makes their work distinct: “We are ready to invest more time and more ideas in creating the project and making it more valuable,” he said.
Ross Wheble, the country manager of commercial property consultancy Knight Frank in Cambodia, has high hopes. “Having taken a tour of the showroom on Street 41, it is one of the best quality developments we have seen in terms of the fixture and fittings,” he said. “They are mainly imported from Europe, setting a new benchmark for Phnom Penh.”
A client from Singapore, who asked to remain anonymous, highlighted the attractiveness of the location for international investors: “I have chosen Phnom Penh to be our next investment destination because I believe in the growth prospects of the country, especially given the introduction of the ASEAN Economic Community in 2015. We are confident that the Embassy Residences will provide a unique quality living experience and will be a very well sought-after location in Phnom Penh.”