While Phnom Penh’s economic growth is booming, infrastructure and residential spaces in the area are constantly and continuously being built to accommodate the city’s growing population. One of these residential spaces is Axis Residences.
Axis Residences is a high-rise complex development located in the area of Street Doung Ngeap number III and Street 2004, only 5 minutes away from the Phnom Penh International Airport and around 20 minutes from the Phnom Penh city centre. It is also located close to national and international schools such as the Northbridge International School and the CIA First International School. The best medical hospitals such as the Royal Phnom Penh Hospital is also nearby. Establishments like the Rathana Plaza Supermarket and shopping complexes like the Lion City & Okide The Grand are also accessible, along with other establishments.
Last Friday 20 January, Axis Residences invited local real estate agents to visit its construction site in order for them to understand the project perfectly. At this visit, the CVEA also held its first annual general meeting of 2017.
Axis Residences is a gold sponsor for CVEA in 2017. This is part of Axis Residences’ mission to make significant efforts to standardise and improve the real estate industry in Cambodia -- from the ground up.
Mr. Kim Heang, the president of CVEA, said, “In 2016, we, CVEA, had 98 members, including companies and agencies in the real estate industry and about 48 of those members are participating in this meeting. We are making the right choice and what we need to do is make the real estate sector better for the future.”
Axis Residences is forging the path for other developers in the Cambodian market - strongly supporting associations such as the CVEA looking to forward the industry, in terms of standardised practices, ethics and education.
Axis Residences is the first Cambodian project by the developer Spring CJW Development. Axis Residences is conceptualised, designed and managed by SPRING CJW Development Pte Ltd together with a team of Singaporean Consultants; the project construction is managed by the SANWAH Project Management Pte Ltd (SANWAH), with designs from AGA Architects Pte Ltd (architect), Azuri Engineers Pte Ltd (M&E Engineer) and the KCL Consultants Pte Ltd (Structural Engineer).
This new development aims to cater to the growing needs of both the young and trendy homebuyers who value a modern quality of life and a finer lifestyle which offers safety and peace of mind.
Mr. Kheang Puthy, the sales representative of Axis Residences development said that “this project is using more than two hectares of land area, has 4 blocks, which is 8 buildings, standing in the north-south direction to make the best out of the air flow. ”
Kheang Puthy added that the whole development will have 566 condo units ranging from 1 to 4-bedrooms. Pricing starts at US$1,100 per square metre or roughly $100,000 per unit. Buyers will now have the option to buy a residential unit in Phnom Penh with green technologies and sustainable solutions.
Since construction started, the project picked up quickly. Right now, around 40% or 3 stories of the whole building project is finished. Each building will rise up to 10 stories high. The development is set to finish in 2018, said Puthy.
Axis Residences offers 22 types of special features that includes a solar PV system,6-storey car park block that has more than 566 car slots, a highly secure 3-tier foolproof security system, indoor and outdoor gyms, multi-purpose rooms (meeting and self-study room), commercial units, a restaurant, a BBQ area, children’s playroom, a garden, a 50-meter swimming pool and various sports facilities.
Every unit is designed to cater to a luxurious, modern lifestyle that comes with appliances and fittings from Japan and Germany. These includes Daikin air-conditioners, laundry, Teka’s Kitchen Appliances,BRAVAT’s Sanitary Wares, FERMAX’s 3 Tier Security System, Schneider Electric’s Switches & Control, built-in wardrobes and many more.
So far, the Axis Residences project has attracted both local and foreign buyers -- having more than 60% of the project already sold out. The payment method very appealing to customers as there’s no need for a deposit and interest charge after a down payment is made.