Ultra-luxury Sky Villa condominium to be completed in March 2020

• 23 August 2019
• Property Focus
• 4473 Views

Construction on the ultra-luxury Sky Villa condominium located along Poland Republic Boulevard of Khan 7 Makara is set to be completed in March 2020 according to an announcement made during a 23 August press conference. The completed Sky Villa will add more than 250 large units onto the Phnom Penh condominium market,

Situated near the Olympic Stadium, the two 35-storey residential towers comprise a total of 256 units (128 units per tower) and a 4-storey basement carpark.

Developed and managed by China-based real estate developer GreatView Investment Pte Ltd and real estate developer MCC Singapore, Sky Villa is designed by renowned Taiwanese architect Chu-Yuan Lee famed for the iconic Taipei 101 in Taipei, Taiwan.

Mr Tan Zhiyong, Chief Executive Officer of MCC Singapore said that Sky Villa refleccts the good relationship between Cambodia, Singapore and China.

“We are very excited to be ushering in the new paradigm of ultra-luxe high-rise living in Phnom Penh. One of the fastest growing economies in the world today, Cambodia is witnessing a steady growth of an affluent class as well as influx of global visitors and investors, and Sky Villa represents the epitome of their home aspirations,” he said.

Promising a quick return of investment, Ms Saly Phalin, Senior Sales Manager, Alpha Alliance Real Estate, the appointed marketing agency, said that Sky Villa possibly sets the record for the most expansive apartment units, sized between 272 square metres and 509 square metres, in the Cambodia capital.

“We expect this new ultra-luxury residential segment to cater to the rapidly growing wealthy class and influx of foreigners in Cambodia, as well as international property investors,” she said.

According to Ms Saly Phalin, all purchased units will come with a two-year rental guarantee offering a 5% return. For purchasers who are not opting for rental guarantee will be accorded a 10% discount on purchase price. Prices will start from US$970,000, US$2,326 per square metre.

In addition to having invested in many projects in Cambodia, Mr Tan Zhiyong said that MCC Singapore is also looking to invest in affordable residential project in the country in the near future.

MCC Singapore is a subsidiary of Global 500 company Metallurgical Corporation of China Ltd (the“MCC Group”) which is listed on the Hong Kong and Shanghai Stock Exchanges. MCC Singapore’s core businesses are urban development and management, property development, project management, as well as construction. MCC Singapore has developed and project managed more than 6,000 condominium units across 12 condominium projects in Singapore.