The construction of Sky Villa, a luxury condominium complex, will be completed by March 2020, according to the developer.
The project is managed by MCC Singapore, an established group with businesses in urban and property development.
Speaking at an event on Friday to showcase units at Sky Villa, Tan Zhiyong, MCC Singapore CEO, said the complex comprises two 35-storey residential towers, each with 128 units and four-storey basement car park.
The complex will be located at Poland Republic Boulevard in Phnom Penh’s Khan Prampi Makara, he added.
Mr Tan said they decided to invest here because Cambodia is one of the fastest-growing economies in the world. He said the country is witnessing a steady growth in affluent citizens and an influx of global visitors and investors.
He said Sky Villa is the epitome of home aspirations for Cambodia’s new affluent citizens.
“MCC Singapore has an established track record of more than 25 years in property development, project management and construction in Singapore. We look forward to bringing Singapore’s best practices in property development and building efficiency into Cambodia’s swiftly modernising housing landscape,” Mr Tan said.
Saly Phalin, sales manager at Alpha Alliance Real Estate, said, “This new ultra-luxury residential project caters to the rapidly growing wealthy class and the influx of foreigners in Cambodia, as well as international property investors.”
She added that Cambodia is one of the world’s fastest-growing economies in the world.
MCC Singapore is a subsidiary of Metallurgical Corporation of China, a company listed on the Hong Kong and Shanghai stock exchanges.