Riviera Condos to Start Construction

• 31 December 2015
• Property Focus
• 1765 Views

Construction on Cambodia’s most costly condominium project, the Diamond Island Riviera, is planned to start mid-year according to the project manager.

The DI Riviera project’s five buildings – A, B, C, D and E – cover 330,000 square meters and consist of condos, a mall, parking spaces and a shopping centre.

The US$700 million development is modeled on Singapore’s Marina Bay Sands resort and features three 38-storey towers joined by a 200 meter swimming pool on the top and will comprise 900 units.

Scheduled for completion in 2017, the complex will also include two other 28 storey buildings (Building A +B) and a shopping mall. The nine-floor mall will have a total floorspace of 78,000 square meters. Marketing for commercial tenants has yet to begin.

The DI Riviera project is a joint venture between the Overseas Cambodia Investment Corporation (OCIC), Friendship Development and Jixiang Investment from China.

Banh Souly, sales manager for DI Riviera, said Building B was already 90 per cent sold and building A was between 50 and 60 per cent sold. Both buildings are similarly priced, although B is slightly cheaper at US$2,200 per square metre, compared to US$2,300 for A.