The Penthouse Residences: Progress in sales and construction
Updated on: June 6, 2022, 5:04 p.m.
Published on: May 15, 2017, 3:41 a.m.

The Penthouse Residences: Progress in sales and construction

The Penthouse Residences has already sold more than 50 percent of its units. It is considered to be among one of the prime condo developments in Phnom Penh that currently fits the market demand - for a high quality project in a high value location, at a price that the market is willing to pay.

The Penthouse Residences ’ foundations have already been set and all piling and testing work has been finished. This means that the Penthouse Residences is well on track for its 2018 completion.

A Brief Background on The Penthouse Residences :

H.E. Oknha Ly Hong is the project owner of The Penthouse Residences. He said in an interview with the Khmer Times that this isn’t the first project they’ve done. He explains, “The project happened after we were successful in projects such as the 5-star Angkor Palace Hotel and the Borey Angkor Palace Hotel in Siem Reap City.”

The project initially had $35 million invested into it by the local developer, and was conceived to meet the demand for a luxurious urban lifestyle, with all the conveniences of the cosmopolitan city of Phnom Penh. The developers of this architectural icon seeks to make history by allowing Phnom Penh to compete with other ASEAN nations as a destination for spectacular architectural design.

Five Star Quality at The Penthouse Residences:

The Penthouse Residences will rise 36-storeys high along Sothearos Boulevard. It will come with high quality amenities and services. This includes a competitive management staff and an accommodating concierge.

The Penthouse Residences comes with a rooftop terrace, an infinity lap pool, a fitness area, a sauna, and 24-hour security, a sky bar.

The Penthouse Residences also features the first and only revolving restaurant in Phnom Penh on its rooftop. It complements the dining experience with its 360-degree view that overlooks the Tonle Sap River, Mekong River, Chaktomok River and Independence Monument.

The developers have commissioned the help of local and international designers, architects and engineers to pursue high-grade construction and interiors. These companies and brands include Sangiorgio from Italy, HAFELE from Germany, Cotto from Thailand, and many others.

Competitive Pricing:

The Penthouse Residences features five types of units. The presale price per unit was at around $69,999. The prices now range anywhere from $80,000 to the $900,000 mark. Their unit types are named Comfort, Suite, Embassy, President, and Richmond. Comfort will be a one-bedroom unit. Suite will be a two-bedroom unit.

Unique Location:

The Penthouse Residences is conveniently located next to other prime residences and business centers like the Aeon Shopping Centre, the Sofitel Hotel, the Canadian International School of Phnom Penh (CIS), the iCan British International School and Diamond Island.

It is also at only 10mn walk from the Royal Palace, the National Museum and the Tonle Sap River promenade.

Investment Potential:

The primary buyers who had already taken a piece of The Penthouse Residences have mostly been from Canada, France, USA, Australia and Japan. One of the main reasons for this is the developer’s offer to rent back the unit at a rate of 18 percent of the total purchase price in the first 3 years. But a majority of more than 50% of the shares are also Cambodian nationals.

The Penthouse Residences is worth a look if you’re planning on upgrading to a world-class urban lifestyle in the heart of Phnom Penh.

Find out more about The Penthouse Residences on Realestate.com.kh
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