Oxley sells more than 50% of Cambodian project

Homegrown property developer Oxley Holdings has announced that phase one of The Peak, its second development in Phnom Penh comprising 507 residential units in Tower 1, is over 50 percent sold.

Launched to Singaporean buyers on 17 October 2015, the 55-storey freehold mixed-use development features two residential towers with a total of 1,014 units, 15-floor office tower and a 300-room hotel, sitting above a five-storey retail podium.

The residential towers offer a range of units from studio apartments to one- two- and three-bedroom units and penthouses, with sizes between 463 sq ft and 1,970 sq ft.

The mega project faces the Mekong River and is within proximity to Naga World Hotel and Aeon Mall.

The developer has guaranteed a 12 percent net rental return over two years for buyers of The Peak, subject to conditions.

Oxley’s Executive Chairman and CEO, Ching Chiat Kwong, said: “The sales progress is a strong testament from buyers in both Cambodia and Singapore of the investment merits and robust unique selling proposition of The Peak. We are confident that The Peak will continue to be a choice home in Phnom Penh, especially when the development shares the same address with a Shangri-La Hotel.”

Construction is expected to begin early next year and the development is expected to be completed in 2020.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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