Singaporean investors will invest $300 million to erect a twin-towered commercial building called The Bridge, in downtown Phnom Penh. The Bridge, a joint venture between Singapore Oxley Holdings and Cambodia World Bridge Land, aims to make its mark on the city landscape by constructing a quality, lifestyle-focused
Singaporean investors will invest $300 million to erect a twin-towered commercial building called The Bridge, in downtown Phnom Penh.
The Bridge, a joint venture between Singapore Oxley Holdings and Cambodia World Bridge Land, aims to make its mark on the city landscape by constructing a quality, lifestyle-focused residential building.
Construction will begin this year and is expected to be completed in 2018.
CEO of Oxley Holdings, Ching Chiat Kwong, said that they decided to bring the SoHo concept to Cambodia, with the aim of catering to a growing group of sophisticated overseas expatriates and young entrepreneurs who would prefer to own their office spaces rather than leasing them.
A SoHo, which refers to “small office, home office”, is a block of small units that are designed for both living and working in and have become increasingly popular in developed cities, such as Singapore and Beijing, said Ching. A SoHo can easily be converted into a residential or office space with a clever mix of interior design and renovation, he added.
The Bridge will be built in the Tonle Bassac area – a 45-storey twin-tower mixed development, with a freehold address close to the Australian Embassy. Besides 762 one-to-three bedroom apartments, penthouses and residential units, the project will also include 963 SoHo units.
“My target customers are Cambodians,” said Ching, but he added it would also be good if the units attracted a mix of Cambodians and foreigners so that they could exchange ideas.