Prestigious townhouse and Inno-Soho community in Phnom PenhOverseas Property | 23 Dec 2020
Among the rising bustling districts that attract investors’ interest is Veng Sreng Boulevard, home to a number of new mixed-use developments with a residential and large commercial component. “The district contains a dense resident population, which drives housing demand,” says Lee.
A standout property in the area is Soleil 88, which consists of a mixed-use townhouse in Phase I and Inno-Soho low-rise in Phase II. Located in the Phnom Penh International Airport Economic and Logistics Zone, it is just a 9-minute drive from the International Airport and around 20 minutes away from the city center.
The development is in the vicinity of a growing number of international firms such as Coca Cola, Honda, Isuzu, and Yamaha. Together with two industrial parks nearby, namely Vattanac and Canadian, and the many international schools, there is a solid demand for residential accommodation from expat, startups and local workers.
Aimed to create a vibrant community, Lee says Soleil 88 is set to become a top-of-the-town startup hub in Phnom Penh. The development, endowed with a refreshingly contemporary and practical design, stands out from other old-style residential buildings close by. Notably, the building exterior and interior layout is helmed by Sunny Yung, a renowned Hong Kong architect guru who has garnered a slew of international awards.
Seamlessly connected to a transport node and public spaces, residents are provided with convenience at their doorstep. The neighborhood is well-served by an attractive mix of malls, market and a variety of dining options; as well as an established international schools network, including the top-notch Northbridge International School Cambodia and CIA FIRST International School, that addresses the needs of families with children. Shuttle buses are also available for residents to facilitate the daily commute of residents – a rare offering in the Phnom Penh market.
Looking at the apartments, a range of small-sized units are on offer to tap into the strong demand for residential accommodation in the district. While the ground floor could be assigned as the office and shops, the upstairs provides sufficient living space for the employer and staff – together amassing around 1,000 sq. ft.
The generous 3.3-meter floor-to-ceiling height, on the other hand, maximizes the living space, with large windows and terraces providing ample ventilation and lighting. “Many nearby traditional buildings pay little attention to the residents’ actual needs. The user-centric Soleil 88 will bring new value to the market,” says Lee.
“We recommend smaller units such as studios and 1-bedroom apartments to buyers who target at buy-to-let,” adds Wong. “They are ideal for expats who come to work in Phnom Penh, like entrepreneurs, foreign workers and educators.”
Long known as an industrial zone that generates tens of thousands of jobs, both Lee and Wong agree the capital’s Veng Sreng area is a safe bet for investors. “With an occupancy rate of over 80 percent, buyers can expect an 8 percent return on their investment,” says Lee.
SOLEIL 88 Phase II
Unit Net Size: 280 – 460 sq. ft.
Shop Net Size: 1,173 sq. ft.
Facebook: Soleil 88 Inno-Soho
Tel: +852 2816 2266