Even though the real estate and the construction have been hit hard globally and in Cambodia, but the situation seems to be ok for some large real estate developments in Phnom Penh as such Gold Tower 42, Rose Condominium, De Castle Royal, Camko City, Posco Star Rice, Phnom Penh Tower and Grand Phnom Penh International. These billion dollars investments will shape a new look of modern high-rise buildings of office center, luxury apartment and condominium (concrete monsters, sic) in Phnom Penh City between 2 to 5 years ahead. This similar development was already seen in Bangkok 20 years ago and in Ho Chi Minh 10 years ago respectively.
Golden Tower 42
A $300 million of tall building development which integrates shopping center, office space, sport and fitness center, luxury apartments and penthouses, has been started since 2008 and it is scheduled to be completed by the end of next 2011.
The 1st phase of the $2 billion investment of Camko City located in Toul Kork district is expected to be completed in earlier 2011. The investment cost of this first phase is amounted around $60 million that include 6 condominium buildings and villa houses. The area of Camko City will also locate the first Cambodian Stock Exchange compound that is scheduled to be finished in the end of 2010.
Despite some rumors said that the real estate price in Cambodia has been falling down significantly after the global financial crisis, the price of unit condo or villa house of the development projects above-mentioned remains unchanged or is still high. Like for Golden Tower 42, the price of the normal unit condo is between $200k and $400k, for luxury condo or penthouse, the price is around $1.2 to $1.3 million. At Camko City, the price can be found from $100k up to $350k per unit of condo.