Takhmao city to see new residential development

Source : Khmer Times 

Reuters

With Takhmao’s property market developing swiftly, Taiwanese and Cambodian investors have recently announced a new residential housing project in the city, which lies south of the capital.

The Dream Home project is hailed by the developer as a “unique residential investment project”.

Keam Seaklong, founder and CEO of Century 21, the sole agency authorised to sell the project, said it will feature 26 houses and a central garden, with the whole project expanding over 3,000 square metres.

Houses will cost around $73,000, he added.

“The project is based on a unique concept: the ground floor will be used for parking, the first floor will be a garden, and the last floor will contain bedrooms,” Mr Seaklong said, adding that the concept, which hails from Taiwan, has not yet been explored in the Kingdom.

He added that the complex will boast tight security to ensure the safety of tenants.

10 houses have already being sold, all of them to Cambodians, he said.

“The property market has been spreading in every direction,” Mr Seaklong said. “A lot of development is happening in the southern areas of the capital, in places like Samdech Hun Sen Street, which is becoming yet another modern commercial centre for the city. Luckily, Takhmao is not far this area.”

Van Chanthorn, CEO of Town Real Estate, also said that the areas south of Phnom Penh are experiencing rapid growth in the property market, mostly enabled by the construction of better roads.

“Takhmao city is growing fast because of its proximity to Phnom Penh. Some areas of Phnom Penh are now almost saturated, but areas that lie south of the city still have plenty of land available, which is attracting an increasing number of developers.

“Moreover, I expect land prices in the areas south of Phnom Penh to increase rapidly compared to other areas in and around the capital,” Mr Chanthorn added.

 

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