A $200 million project Borey, or gated community, project
called The Flora will focus on construction quality to meet the rising expectations of home buyers, said Taing Sokhim, general and financial manager of the project at its sales launch on Saturday.
Ms. Sokhim said construction of the 35-hectare project started in September and will last 20 months. “About 50 per cent of the proposed 50 villas have been booked in the first phase,” she said.
In total, the project will have about 1,000 homes, ranging from shop houses to townhouses, duplexes and villas. It is located along National Road 6 in Chroy Changvar district. “We don’t care about competition because we focus on construction quality and people’s expectations,” Ms. Sokhim said.
Khat Sovann, general manager of Cam Top Property Group, is also optimistic about the district, saying many developers had been flooding into it over the past two years.
Dith Channa, general manager of VMC Real Estate Cambodia, also said many residential developers are interested in investing in the area due to its infrastructure and environment. “The area is favorable for residential development because it features good infrastructure, and a pleasant environment between two rivers [the Tonle Sap and the Mekong rivers] where people can relax in peace,” Mr. Channa told Khmer Times.
“Many residential projects have been developed or are underway in the area because the location is near the center of Phnom Penh, the infrastructure in the area has been upgraded and the second bridge has lessened traffic jams,” Mr. Channa said. Sear Chailin, CEO of CL Realty, described the property market in Chroy Changvar as “booming.”