Riviera project to begin in 2013

Riviera project to begin in 2013

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Construction on the Riviera project. Photograph: Hong Menea/Phnom Penh Post

Canadia’s Bank’s futuristic $100 million Riviera project on Koh Pich Island will begin construction early in 2013, according to a company spokesman.

Riviera project manager Chen Hok said that two 28-storey buildings and three buildings of 38 storeys will be built in early 2013, while they are working with their partners to aid the construction.

The project consists of apartments, a supermarket, condos, offices, an amusement park and a two-hundred metre-pool running across the tops of the 38 storey-buildings.

“The expenditure on this project is not determined because the price of building equipment and materials are unsteady so we don’t know precise figures yet,” he told Post Property.

Ban Souly, the sales manager of Riviera, said many potential customers are interested in Riviera; its 104 flats will be purchased immediately after the company announces it is to sell some parts of the five buildings.

“Many clients are interested in condos after it was announced that the average price is $1,800 per square metre,” she added.

Sung Bonna, Director of Bonna Realty Group and president of the Cambodian Valuers and Estate Agents Association said this project is an opportunity to succeed in making Koh Pich became a busy economic center so it will be popular after completing construction.

“The success of this project is due to good location and circumstance,” he added.

Dith Channa, general manager of VMC Real Estate Cambodia, agreed with Bonna, saying it is in a good location and is different to other buildings in Cambodia because it has the huge pool on top and also offers entertainment, so it has the potential to attract local and international clients.

“The project is in a good location and environment that is surrounded by water and fresh air, as Chinese Feng Shui is a priority. On the other hand, it also updates the beauty of Phnom Penh and real estate as well as attract tourists,” he said.

To contact the reporter on this story: Siv Meng at [email protected]

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