Spring CJW Development plans to invest $70 million on a residential project located a stone’s throw away from Phnom Penh International Airport, according to media reports.
“Real estate in Cambodia is leaping forward, while slowing down in neighbouring regions. It will become a magnet for investors, tourists and expats,” said Spring CJW General Manager Edwin Low.
That is why the company has ventured into this market before the competition becomes too crowded, he added.
Axis Residences comprises eight 10-storey blocks which houses a total of 566 freehold apartments.
The units are tentatively priced from $1,100 to $2,000 per square metre.
Apart from a six-storey car-park capable of accommodating 566 cars, the project also comes with an array of amenities such as playgrounds, function rooms, indoor and outdoor gymnasiums, and a 50-metre swimming pool.
Construction is scheduled to start in early 2015, with completion by 2018.
Image source: Spring CJW Development’s website
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
Related Stories:
Illegal for Singaporean agents to offer services in Malaysia
Significant interest in Thailand property investments in Singapore and China
