Sunday, January 1, 2012

Royal Tower: when will it starts?

For those who are interested in real estate development, the launch of Royal Tower construction is what they want to hear the most. What is special about Royal Tower? Today, Projects Cambodia (PC) would like to highlight some information about this important project.
According to Cambodia business review, Royal Tower is a joint venture between The Royal Group (which owned by Cambodia's most famous tycoon Kit Meng) and a Hong Kong-based property development company, Amarapura. The project costs up to 102 million dollars (according to Amarapura website).

The Royal Group Chairman Kit Meng
The news about this tower released years ago (on Royal group website which slated it will be finished in mid-2013) but so far nobody knows when this projects starts. Royal Group Chairman Kit Meng told the Phnom Penh post on its 18 March 2011 issue that the construction sets to begin very soon. This project get approved by the CDC (Cambodia Development Council) in January and February this year.

Royal tower 
We hope that the construction will start this year. Do you think it can be completed in mid-2013 as Royal Group website slated? 

*  Project Information
Name : Royal Tower
Developer: Joint venture project between the Royal Group and Amarapura
Location : Corner of Monivong Boulevard and Confederation de la Russie (opposite OCIC Tower, previous known as the Traffic Police site)
Land Area : 4036 sq m 
Retail Spaces : 4800 sq m (B1, L1, L2 and L6)
Unit Size : Studio - 47.3 sq m, 1 bedroom - 94.5 sq m, 2 bedroom - 123.5 sq m, 3 bedroom - 218 sq m or 263.8 sq m 
Number of Floors : 36 (17 floors of office spaces + 13 floors of residential spaces - Office Level 7-23, Residences Level 24-34, Penthouses Level 35-36 plus roof)
Number of Parking Spaces : 270 (B1, L3, L4 and L5)
Project Cost : total investment of US $102 million (Amarapura Website)
Expected Completion Date : mid-2013
Description : The building is planned to offer first class international standard office space in two efficient rectangular wings arranged in an elegant ‘A’ configuration around a central elevator core. The two penthouse apartments will be made available for sale - either individually or en-bloc, with private roof decks and swimming pools. Part of the retail podium is available for retail banking activities - with secure basement loading and vault areas.
Facilities: Club floor level with restaurant, spa, meeting facilitie and landscaped pool deck. 

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