A platinum opportunity to enter Phnom Penh’s property market
Freehold mixed-use development Royal Platinum features well-appointed residences in a prime district.
Nestled in the upscale neighbourhood of Toul Kork, Royal Platinum has been thoughtfully designed to provide a well-rounded lifestyle for residents. Photos: Hong Lai Huat Group
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From the ancient wonders of Angkor Wat to modern skyscrapers and glossy shopping malls, Cambodia combines old world charm with cosmopolitan vibes in one of the region’s fastest-growing countries.
In the last decade, an increasing number of foreign companies has started operating in Cambodia, drawn by the special economic zones designed to attract export-oriented manufacturing investment, and the government expects even more foreign investors to bet on the potential of Cambodia’s emerging market.
One such investor is Singapore-listed Hong Lai Huat Group, which has partnered the Royal Group of Companies in Cambodia to launch Royal Platinum, a freehold strata-titled mixed-use development located in the thriving capital of Phnom Penh.
“Apart from rising land prices in the capital, the growing middle class has also been a strong driving force in the demand for property, resulting in steady growth for Cambodia’s property market,” said Mr Ryan Ong, executive director of Hong Lai Huat Group.
At the development’s topping out ceremony on Mar 26, Mr Ong said that both groups had combined their extensive experience in construction, property and real estate development to deliver on the promise of building high-quality housing in the city.
“We are committed to providing a premium residential living environment, coupled with a unique indoor shopping street and a dedicated floor of entertainment facilities,” he shared. “We believe Royal Platinum will greatly benefit our buyers and set the benchmark for developments in Toul Kork.”
AN EXCITING ADDITION TO AN UPSCALE NEIGHBOURHOOD
The residential district of Toul Kork where Royal Platinum is located is home to numerous government and non-governmental organisation offices. Set in the west side of Phnom Penh, shopping malls, international schools, villas and condominium developments sit in the popular area.
Befitting of its standout location, Royal Platinum has been built to provide a well-rounded lifestyle for residents.
Tapping on over 120 years of heritage and regional expertise, Singapore-based architectural firm Swan & Maclaren has lent its innovative design touch to the development’s 851 residential units and 50 commercial shophouses; the latter forms the indoor shopping boulevard on the ground floor.
To meet a spectrum of recreation needs, the development has amenities that include multiple swimming pools, a golf simulator, cigar bar, basketball court, Japanese restaurant and a spa and massage facility, on top of standard facilities such as a gym, jacuzzi and steam room.
There are 496 studio units, 226 one-bedroom units, 72 two-bedroom units, 36 three-bedroom units and 21 three- and four-bedroom penthouse units, offering overseas investors a choice of apartment sizes that best fit their desired rental yield.
Expected to be completed by end 2023, Royal Platinum has over 15 international schools in its vicinity, a boon for residents with school-going children. The development is also a mere 10 minutes’ drive from the biggest mall in Phnom Penh, while a supermarket is just across the road. Lifestyle favourites are within easy reach, too, with Starbucks and a cinema a minute’s drive away. Collectively, these amenities could be a draw for prospective tenants.
INVEST IN A FAST-GROWING REAL ESTATE MARKET
According to Mr Ong, Hong Lai Huat Group is bullish on prospective rental yields for Royal Platinum, citing anticipated demand for the development among the capital’s growing middle class as well as expatriates with rental allowances provided by their employers.
“We project rental yields to go as high as 5 to 8 per cent per annum,” said Mr Ong, adding that the group’s projection is based on its analysis of real-time rental and property prices in the area.
Like other luxury property developments, Royal Platinum is targeted at the increasing number of foreign buyers seeking to invest in Cambodia’s real estate market. A survey conducted by the country’s largest online property portal revealed that investors mostly hailed from China, Japan, South Korea and Singapore, who are attracted by the prevalence of the US dollar in Cambodia’s economy and the ability of foreigners to own freehold condominiums.
Another pull factor, according to Mr Ong, is the relative affordability of property in Phnom Penh: “Even though Cambodian property prices have gone up in the last few years, real estate is still affordable compared to the global average.”
To reward early-bird buyers during the Royal Platinum sales launch in Singapore on Apr 15 and 16, Hong Lai Huat is giving away an iPhone 14 to each of the first five clients to sign the purchase contract and put down the deposit*.
Said Mr Ong: “We look forward to welcoming interested potential investors who wish to learn more about Royal Platinum and the potential of Phnom Penh’s property market.”
The Royal Platinum sales launch takes place on Apr 15 and 16 at HUONE Singapore Clarke Quay, 3D River Valley Road, #03-01 Block D, Singapore 179023. To pre-register your attendance, send a WhatsApp message to +65 8838 2526.
*Terms and conditions apply.
