The PARC 21 Residence showroom in The Point Community Mall along Mao Tse Toung Boulevard. Supplied.
The PARC 21 Residence recently closed $700,000 worth of units in the first week of marketing and sales with partners Realestate.com.kh and FazWaz Cambodia.
In a press release earlier in June 2021, the PARC 21 Residence appointed Realestate.com.kh, Cambodia’s largest real estate classifieds portal, and FazWaz Cambodia, the first tech-enabled real estate brokerage in the country, as its exclusive marketing and real estate partners, respectively.
Positive market reception
The PARC 21 Residence takes inspiration from the Singaporean idea of “A City within a Garden”, a concept using smart spatial planning to create a comfortable urban residence. Supplied.
The PARC 21 Residence is a new 132-unit development in Boeung Trabek, Chamkarmon. Its location is a high-traffic area near the popular Toul Tompoung Market (Russian Market) known for its many shops and restaurants and close to two major roads: Preah Monivong and Mao Tse Tong Boulevard, both roads leading to central business districts like BKK1 and Daun Penh, and to developing areas like Sen Sok, Chbar Ampov, and Meanchey.
“Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations,” said Pearl Yu, Senior Sales Manager for PARC 21 Residence. “Our location in Boeung Trabek meets this demand for the same urban convenience without the same high costs”.
With the help of Realestate.com.kh and FazWaz Cambodia, PARC 21’s vision of providing a quality residence was well received by many property seekers in Phnom Penh.
“I liked the style and concept of PARC 21 Residence. It’s in a good location for a great price. I believe it’s a sound investment for passive income”, Mr. Albert, Singaporean, purchased a 2-bedroom penthouse.
“It’s just what my family is looking for. It has a great view, feels cosy, and is in the best spot for my family to move around. PARC 21 is especially close to international schools where my children go. For family time, there’s plenty to go to as dozens of restaurants offer local and international food close to PARC 21”, Mr. Paul, British, purchased a 3-bedroom penthouse.
“My family has been looking for a new home near the city center for quite some time now. We saw PARC 21 is close to the markets and to an international school my daughter attends. And with the deal FazWaz Cambodia was able to negotiate, it was an easy decision for us”, Ms. Thida, Cambodian, purchased a 2-bedroom apartment.
Despite the ongoing pandemic, the PARC 21 Residence quickly closed over $700,000 in sales as it was able to communicate its value through its exclusive marketing and sales partners.
Value per square metre
Phnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal.
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The PARC 21 Residence offers a great value per square metre compared to other projects within a 5km area. The project is close to many popular commercial destinations such as:
- Russian market (<3 mins away)
- Boeung Trabek Plaza (<3 mins away)
- Chip Mong Noro Mall (<5 mins away)
- AEON Mall 1 (<10 mins away)
- Naga World (<11 mins away
Several international schools of note are within a comfortable drive from PARC 21:
- ISS International School
- Zion International School
- BlueBird British International School
- CIA First International School
- The Giving Tree International School
- iCAN British International School
- Canadian International School (CIS)
- East-West International School
- Footprints International School
The PARC 21 Residence is on track to deliver its units for handover by June 2022. If you’re interested in this project, let us know today!
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