Media experts report that Oxley Holdings, a homegrown property developer, intends to invest $300 million towards the development of a Phnom Penh, dual tower small office/home office (SoHo) project. The project, which has been nicknamed “The Bridge”, is a joint investment between Cambodia World Bridge Land and Oxley Holdings. The residential building is lifestyle focused which is aiming to be completed by 2018. Developers aim to make The Bridge an iconic mark on the city’s landscape.
Twin Towers Project
Oxley Holdings’ CEO, Ching Chiat Kwong, has revealed that the SoHo idea was introduced to Cambodia in the hopes of catering to the growth of expatriates and young entrepreneurs that are looking to buy and own office space for themselves as opposed to renting.
Ching explains that by putting all of their focus on interior design and the renovation aspect of the project, these SoHo units can easily be converted into a residential or office space. Ching also adds that the SoHo concept itself is gaining popularity in a few developed areas such as Singapore and Beijing.
Cambodia New Project in the heart of the city
Being built near the Australian Embassy and within the Tonle Bassac area, this 45 story freehold development features 762 one to three bedroom apartments, 963 SoHo units and some penthouses.
Ching also pointed out that the average price range for these small office/home office units, which range between 32 and 54 sqm, start from $100,000 (s$125,285). It will include facilities such as swimming pools, gymnasiums and resident exclusive retail outlets.
The residential units of The Bridge have been getting quite a bit of interest. Its SoHo units are set for a mid-June soft launch. The project is set to be launched by Oxley at the end of next month and is expected to be a prominent development for the Phnom Penh area.