Fine Complex to Rise at Ta Khmao in 2018

• 10 July 2016
• Property Focus
• 2631 Views

2018 will see Ta Khmao city transformed into a real estate development hub thanks to the presence of the first large-scale residential and commercial development project called Center City Ta Khmao which is located just south of Phnom Penh along Ta Khmao Town’s Tonle Bassac riverfront.

Built on a 15,463 square metre plot with 10,668 square metres of beautiful landscaped surroundings, Center City Ta Khmao complex officially kicked off phase one construction on 24 March.

The project will be the first-ever large scale complex in Ta Khmao built with modern architecture featuring two 27-floor towers. There will be 68 shop houses, 484 condo units along with leisure amenities including a health and fitness centre, swimming pools, jogging paths and a children’s playground.

Construction is divided into three consecutive phases; shop houses and commercial buildings; shopping center and condominium towers.

Worth about US$100 million in investment, the property comes under a joint venture between local conglomerate Tang Kung Group with almost 20 years of experience in the real estate industry and Malaysian real estate giant that owns The Riverside Group based in Melbourne, Australia. The project’s architectural master plan is designed by Thai leading architect consultancy A7 Corp.

Addressed at the construction’s ground breaking event, Oknha Tang Kung, Chairman/CEO of The River said the project location comes under a very thorough study as the group analysed the zone potential and various special aspects such as existence along Tonle Basac River with gentle breeze air, clean environment, safe security, high land and with only 6 km away from Phreah Monivong Bridge.

“After construction is finished, this project will become one of Cambodia’s modern and civilized residential complexes that will offer inhabitants with comfort, safety complying with international standard as well as an abundance hub of commerce, services and entertainment to meet the need for modern era,” Oknha Tang said.

He added that this project is constructed by ensuring construction quality along with attractive design to comply with local and international standards making it one of Cambodia’s most active commercial center. The River will open its showroom soon this year.

Presided over the ceremony, H.E. Lieu¬tenant General Manet, a deputy commander of the Royal Cambodian Armed Forces said the Center City Ta Khmao is the fine residential and commercial center for Ta Khmao that will respond to the current and future need of the people.

“I would like to encourage and support all the efforts made by all companies invested in Cambodia while the government has been widening the real estate market along with the political stability and healthy economic growth,” he said.

Stretching on a vast area south of Phnom Penh between Tonley Basac and Tonle Sap, Kandal province presents a very potential geography. This province has a total landmass of 3,211 square kilometre divided into 10 district/Srok, 127 Commune/Sangkat, and 1,010 Villages of a total of 1,189,105 people.

GDP per capita income for every people in Kandal is US$1,019 while the poverty rate remains only 14.78% in 2015. In separate, Ta Khmao town in one of the 10 districts in Kandal that connects to Tonle Basac in the east, to Meanchey district in the north, Dangkor district to the west and Srok Saang and Srok Ksach Kandal to the south. The town contains six Sangkats and 38 Villages dwelling by a total of 75,825 persons. H.E. Mao Phirun, Kandal governor said.

“Ta Khmao Town is a thriving commercial hub located south of Phnom Penh with rapid developments. Many fine trading buildings and residential projects are being developed surrounding the town,” he said.

‍As predicted by Cambodia’s most-celebrated architect and urban planner, H.E. Vann Molyvann, Phnom Penh city will continue to grow toward Ta Khmao as this area is highly flood resistant, and will remain so for the future.

Mr. Houn Heng, The River’s Project Manager said so far works are active on the project’s foundation especially on residential units that is 40% sold out. He told media that many customers interest to book the condo units, but the company won’t take the deposit before construction on the condominium towers start.

“We want to express to clients that our company have enough capital to construct this project different from other projects that depends on customer’s despots to complete the construction,” he emphasized. Center City Ta Khmao is not the first and the last project developed by The River. The company has already planned another development at Sihanoukville to be named Center City Sinahoukville to be built soon this year. “Sihanoukville is the second tourist hub beside Siem Reap and today many Japanese, Chinese investors buy the land there.

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