Imperial Crown is strategically located in the most-desired residential location available in Phnom Penh, namely street 360, BKK 1, Khan Chamkarmon.
Since as early as the 1980s, NGOs, diplomats and expats have viewed BKK1 as the safest and most valuable residential area in Cambodia. Today this label remains; BKK is home to the majority of embassies, expatriate residents, upmarket and international style restaurants, cafes and nightlife. The elite of Phnom Penh is and will continue to center itself around this prestigious district; and current land prices as high as $6000-$8000 per square meter are a testament to this demand.
Imperial Crown has by far the highest standard of interior decoration out of any project currently underway in Phnom Penh. 15th-16th century Baroque interior design has been maintained throughout Imperial Crown condo units with impeccable attention to detail and high quality materials, finishes and fixtures. Every unit’s entrance door is imported and handmade in Italy and Taiwan from carbon fiber steel, and it is totally thief, fire and sound proof, available in a series of unique, artistic designs. Each unit includes classic Baroque style furniture handmade from 50 year old mahogany, all of which is hand painted with real silver.
Swiss and German ceramics and faucets are standard throughout: Kitchenware is imported from Germany with the brand of Bauformat; and full oven, dishwasher, induction heating cooker, and high quality cabinetry is standard throughout. Sanitary equipment is imported from Switzerland with the brand of Teka, Laufen and Steinberg. Each house unit comes with Rinnai water heater, and air conditionings.
And absolutely all furnishings are included in the completed units, as shown in the BKK1 showroom and Sales and Purchase Agreement.
In other projects in prime districts such as BKK, developers are generally sacrificing parking space in order to maximise profits on residential units. However, given the current shortage of parking facilities in this area, the Imperial Crown developer has ensured their residents will have ample car parking space. A total of six floors of car parking is reserved for residents, with a total of 144 parking spaces. Meanwhile, Imperial Crown residents will not need to wait on elevators; the project will include four high speed elevators, each able to travel at three meters per second.
While some developers in Phnom Penh are retaining rights of ownership over the common areas of the finished condominium, Imperial Crown unit owners will automatically own a share of the common area when they receive their strata titles, totalling 25.8% of the total property - and the developer retains no ownership of this area to ensure that no conflict of interest arises. Once the project is complete and occupied, the management and maintenance fees for the common areas will be paid directly to a third party. Once the third party property management company receives this money, it will be kept in a cash pool to maintain or repair the common areas when need be.
The development is now underway with the guidance of renowned construction company, RockStone from Taiwan, along with Beijing Urban Construction - renowned for famous projects such as the Beijing National Stadium “Bird’s Nest”. This is their first project of many in Phnom Penh, all of which will soon become landmarks of the city.
The Imperial Crown project will include the highest grade of structural engineering elements, including 53 counts of all casing concrete pile drilled straight into the bedrock, with the use of reinforced concrete for the basic building structure. The outside wall, from the ground floor to the fourth floor, will be constructed from marble; and from the fifth floor upwards, colored sand stone coating will be used. This stone coating is waterproof and blocks incoming heat from the sun. Painting on the exterior wall will generally deteriorate in around three years, while sandstone used in Imperial Crown lasts more than 20 years without maintenance.
Available units at Imperial Crown include two bedroom condos with one smaller office room integrated into the design. However, on the buyer's request, these units can be modified into three bedrooms. There is a total of of just 161 units, with 6 units on each floor. Prices range from $500K to $700K, and uniquely this net price includes all the interior electronics, fixtures and furnishings.Loan financing is available for buyers and the project has already sold around 55% of units. Guaranteed Rental Returns are guaranteed at 6% per year, for the 3 years, totalling 18% yields.