Book and move in to Olympia City with 6.5% interest rate for 25 years

To help facilitate buyers to acquire their dream home at the centrally-located Olympia City, the developer is now offering an interest rate of 6.5 percent per year of the property price with payment terms extendable for loan up to 25 years.

Developed by Overseas Cambodian Investment Corporation (OCIC), Cambodia’s leading developer behind dozens of property developments, the Olympia City development is being financed by Canadia Bank. The massive Olympia City project features 13 skyscrapers and is being built on 6 hectares of land north of the National Olympic Stadium. The award-winning property complex features a 25-storey building, five 20-storey buildings, and a 60-storey skyscraper, as well as a 45-floor modern urban hotel.

With the new loan policy, customers can provide a USD3,000 down payment to secure their preferred condo unit in one of the five 20-storey residential towers and take out a loan from Canadia Bank of up to 85 percents of the property value and move in now.

In addition, a special offer is being made for the Soho and office units that are eligible for loan up to 95 percents of the property value with payment terms over 25 years. While the price per unit starts from USD100, 000, the developer guarantees leasing units back from the owners for a three year period with a 21 percent plus return on investment.

As construction swiftly moves forward, two of Olympia City’s condominium towers are now open to residents and businesses, with more properties to open afterwards. OCIC confirmed that Condominium Tower 1 (C1) and Condominium Tower 2 (C2) are now open for the residents to move in. Condominium Tower 3 (C3) and Tower 4 (C4) are expected to open in late 2017. The four towers are among the 20-storey buildings being constructed in Phase 1.

More properties are expected to be gradually opened to residents from the end of 2017 onwards. Once complete, the Olympia complex will feature the Olympia Plaza (shopping centre), commercial facilities and shop-houses, apartments, a business centre and a water treatment park. What makes Olympia City special is how business and lifestyles are effortlessly combined.

The Olympia city also features a Club House with a mirror room to separate it from yoga classes, aerobic classes, and a tennis room. Unlike the Club House, the swimming pool is specially designed to connect from one building to another. The seven-floor plaza features pedestrian bridges between projects to promote traffic flow into the complex, which will come fully online in 2018.

The 4-storey shop-houses (flat) are designed for both commercial and living purposes, allowing clients to conduct commercial activities on the first and second floor while living on the third and fourth floor. Above the shophouses, the condominiums are built from the sixth floor upwards to the twentieth floor and above.

Thanks to its stunning design and build quality with backing from a developer with a strong reputation, Olympia City received numerous awards at the inaugural Cambodia Property Awards in 2016.

Besides winning the award for ‘Best Mixed Used Development’, Olympia City won ‘Highly Commended’ titles for the Best Residential Architectural Design (low-rise), Special Recognition in CSR and Best Condominium Development categories. Developer OCIC also won the ‘Highly commended’ title for Best Developer of the region’s most highly regarded awards.

After receiving planning approval from the government in mid-2011, OCIC kicked off construction on the Olympia City complex in 2012 and expects to have all the properties online by the end of 2018, project site manager Mr. Ngoun Hanrith told Construction & Property Magazine. He explained that the project is being constructed in three stages with the tallest tower housing the 500-room hotel to be built last.

“People usually see luxurious cities in other countries such as in Thailand, and they only know of some luxurious developments in Phnom Penh, but Olympia City will introduce them to the most high-end complex in the city just near to them,” Mr. Hanrith said.

The developer OCIC has set high expectations for this project, believing it will be one among the most luxurious city complexes in the kingdom comparable to luxurious residential and commercial compounds in neighbouring countries.

Olympia City from Bunkao on Vimeo.

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