Nowadays, the Cambodian capital is almost unrecognisable. Infrastructure is improving at a rapid rate, 3G floods the streets, consumerist haven AEON Mall launched late last year and condos are creeping up across the city’s skyline. Even Rolls Royce recently rolled into town.
Moreover, in 2005 no buildings surpassed the 11-storey mark, whereas about two dozen are expected to hit 20-plus floors by 2019; one of which will be The Bay, the latest symbol of just how far Phnom Pehn has soared in the last 10 years.
Covering more than 18,770 square metres of prime real estate in the heart of the booming Chroy Changvar peninsula, The Bay, which will comprise a five-star hotel, high-end retail outlets and exclusive Bay Suites, is helping to redefine how affluent investors perceive Phnom Penh.
A world-class, freehold residential development that will feature full concierge services, a state-of-the-art gym, a 25-metre lap pool, landscaped BBQ pavilions, a Sky Terrace and lounge areas on Level 30 and more five-star amenities, Bay Suites is unlike anything else currently on the city’s residential market. And what’s more, overseas buyers will face no restrictions as a result of Cambodia’s relatively relaxed foreign ownership laws.
“The Bay is a major and important milestone for TEHO,” says Lim See Hoe, the company’s executive chairman and CEO. “We are confident that the entire project is going to redefine the skyline of Phnom Penh to be its new iconic masterpiece.”
Apartments at the 688-unit project, due for completion in 2019, will boast floor-to-ceiling windows and imported fittings and fixtures that are set to complement the avant-garde design concept that will undoubtedly set the residences apart from the competition.
In fact, as buyers await the turnover of their units at Bay Suites, TEHO is planning to further accommodate the ever-increasing influx of local and international visitors – which surpassed 4.5 million for the first time in 2014.
The Singapore developer recently signed a Memorandum of Understanding with world-renowned, Tokyo-based hospitality brand Hotel Okura Co Ltd to operate a luxurious, 250-room five-star hotel called The Okura Prestige Phnom Penh, which is set the be a future icon of luxury, high-end dining and leisure, at the heart of an already iconic development.
“We went through a very stringent selection process, and ultimately found a partner in Hotel Okura, renowned for its uncompromising quality and service, along with its sophisticated Japanese hospitality,” adds Lim. “The selection of the luxurious Okura Prestige brand accentuates the confidence that Hotel Okura and TEHO have in the potential of Phnom Penh, the prime location of Chroy Changvar, and the quality of this project.”
The monumental development, which has a total project value of USD0.5 billion, will also feature Cambodia’s tallest skyscraper at 53 storeys, proving that the sky is definitely the limit for this all-in-one, chic new city in Phnom Penh.
Essential amenities and attractions in contemporary Phnom Penh
- Diamond Island (Koh Pich) – Once completed, the 100-acre island-township will be filled with luxury residences, high-rises and a planned replica of the Arc de Triomphe, and it could even rival Singapore’s Marina Bay.
- Kitahara Hospital – The USD35 million medical centre is set to be Cambodia’s premier hospital, run by personnel affiliated with the renowned Kitahara International Hospital, Tokyo.
- The International School of Phnom Penh (ISPP) – Founded in 1989, the K-12 school has expat students from more than 50 countries and specialises in the International Baccalaureate (IB) diploma programme under the Royal Government of Cambodia.
- Duck – Try the mushroom risotto or their famous Wagyu steak at this intimate, posh bistro owned by ingenious restaurateur Dah Lee, who showcases his 25 years of culinary experience from Down Under.
- AEON Mall – Located a few blocks away from the Independence Monument (take your car, bike, a tuk-tuk or a cab), the brand-new, international-standard shopping centre is Phnom Penh’s all-around retail, dining and entertainment hub, open from 9am until 10pm daily.