Strong interest in Cambodia's Skyline
The Skyline, a new development in Phnom Penhs prime commercial business district in Phnom Penh, has been attracting significant attention from overseas property buyers according to a real estate agency marketing the project.
The Skyline is a 39-storey mixed-use development with two blocks of 29-storey residential towers, a six-storey carpark, and three-storey retail element with a single-storey communal facilities. The development is only a stone's throw away from Central Market, Sorya Shopping Center, Phnom Penh Municipal Referral Hospital, Ang Duong Hospital and reputable schools such as the University of Health Sciences and National University of Management.
The 792-unit development consists of 560 one-bedroom units at 55 sqm, 224 two-bedroom units ranging from 75 sqm to 79 sqm, six three-bedroom Penthouse units at 130 sqm each and two four-bedroom Penthouse units at 215 sqm. With a freehold land tenure, the Temporary Occupation Permit is expected to be obtained in Q4 2018.
Show units opened on March 14 for preview and garnered positive response from potential buyers who came from a wide age group of between 25-years-old and 72-years-old. Some 58 bookings happened during the start of the preview, ahead of the official launch that is set for mid-April 2015.
"The cooling measures implemented in recent times have definitely slowed the Singapore property market but that does not mean that property investment has become obsolete, said ", said Rhonda Wong, the Chief Executive Officer of Anthill Realtors Pte Ltd, the leading agency involved in sales transactions for The Skyline.
Local investors can still look towards frontier markets such as Cambodia, with a promising growing economy, especially with its impending full integration into ASEAN in 2015 and synergies of commerce and business, making it a choice market for overseas investors that guarantees high net yield and offers great potential for capital appreciation.
Anthill Realtors is a boutique real estate consultancy firm headquartered in Singapore.Most recently, the firm emerged as the top sales team in Singapore for Capital 21 @ Capital City in Iskandar Malaysia, where more than 100 units were transacted.
Andrew Batt, International Group Editor ofPropertyGuru Group, wrote this story. To contact him about this or other stories emailandrew@propertyguru.com.sg
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