Ground was broken at a 36-storey state-of-the-art condominium project, Leedon Heights, yesterday with the grand opening of its showroom.
The event was presided over by H. E. General Kun Kim, senior minister and secretary general of Cambodia Veterans Association. The Singapore ambassador to Cambodia also attended.
Mr. Horng Pheap Managing Director and shareholder of Leedon Heights Condominium, of the investment group behind it, said during the ceremony that the location of the project in Phnom Penh Capital’s Sen Sok district, where it will be surrounded by shopping malls and commercial centres, had great potential.
He added in recent years, Sen Sok is has witnessed remarkable development in its core infrastructure and high demand for property development.
“With more shopping malls, business and entertainment centres, Sen Sok district has developed very fast over the years,” he noted.
“We are confident that Leedon Heights will attract more Cambodian people who wish to have a new home lifestyle,” he said.
Ms. Ann Sothida, Managing Director, CBRE Cambodia – Sole Marketing Agent and property management of Leedon Heights, said the development is the best choice for Cambodian people both to live and invest in because of the potential of the area, which includes Aeon 2 shopping mall.
Mr. Ngoun Chhayleang , Head of developer sales team of Leedon Heights, said so far the project has received declarations of interest in buying from both locals and foreigners of 60 percent of the units off-plan.
He said the project, which was designed by Singapore-based Create Architecture, is a joint venture between Cambodian, Singaporean and Taiwanese investors. It is expected to take four years to fully complete. Chayleang said the company has already successfully developed two hotels in Phnom Penh.
Leedon Heights is just 900 metres from Aeon Sen Sok and is being built on 1.5 hectares of land. It will consist of four towers, each with a total of 1,190 units, and have two floors of underground parking for 657 cars.
The property provides a luxury lifestyle with commercial centres such as coffee shops, a supermarket, child care centre, swimming pool, gym and playground.
General Kun Kim said the project did not just show support for cooperation between local and foreign investors but also showed the success of the private sector in complying with Cambodian government policy, providing confidence for local and the international investors to join in the Kingdom’s economic growth and reduction in poverty.
“It was the right decision by the company to invest in the condominium project here,” he said, adding that the private sector is essential to promote national economic development, with the country seeing more foreign companies coming in.
“Cambodia need more capital investment to boost its economic growth. That’s why the government has amended the investment law to ease conducting business and investing here,” he said.