Singapore-based property company YUEN Development has launched for sale the first phase of La Vie Residences, a luxury condominium in the Chroy Changvar area of Phnom Penh, Cambodia.
Booking of units has reportedly outperformed expectations at 60 percent with Singaporeans and overseas investors forming the bulk of buyers.
The 17-storey 180-unit project has a built-up area of 280,000 sq ft with residential units ranging from one- to three-bedrooms offering views of the famed Tonle Sap and Mekong River.
Prices start from US$112,888 for a one-bedroom apartment.
Commenting, Darren Yap, YUEN Development’s CEO said: “La Vie’s biggest selling point is its attractive entry-level pricing structure. Its luxe positioning is backed by imported top-of-the-line fixtures and amenities comparable to Singapore’s condo developments.”
He noted that buyers are guaranteed above-market rental yields and long-term capital gains.
Located along National Road 6 which forms part of the iconic ASEAN Highway, La Vie is close to up and coming shopping malls, banking and medical amenities.
Yap added: “With two more phases of mix-use projects in the pipeline, we at YUEN Development view investing in the Kingdom of Cambodia highly scalable. The future for Cambodian property is Chroy Changvar and now is the time to buy.”
The freehold project is expected to obtain TOP in 2019.
Image: La Vie Residences facade. (Artist’s impression)
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
