LHN to Bring 85 Soho Serviced Residence Brand to Cambodia

• Proeksa Meas
• 27 April 2018
• Local News
• 2641 Views

Well-known Singaporean real estate company LHN Group is acquiring 108 freehold condominium units in Phnom Penh for USD12.5 million with the aim to develop them into the serviced residences under the 85SOHO brand, according to The Straits Times.

The 108 condos comprise all the units in Block 1A of Axis Residences, which is developed by Spring CJW Development. Axis Residences comprises 5,748 square metres of net private area and 8,047 square metres of gross area including common facilities, which LHN Cambodia has the rights to use.

According to The Straits Times, LHN plans to operate those units as serviced residences under the 85SOHO brand. This is part of the group’s future vision to broaden their property portfolio, increase the company’s profile and the brand value of 85SOHO, and provide additional opportunities to generate revenue.

Based on the purchase agreement, Spring CJW Development will complete construction by December this year with an additional six months for any delays due to unforeseen circumstances.

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