$2.5 Billion Koh Norea Project Project To Become A Spectacular Location For Both Investment & Living
According to OCIC’s senior management, Koh Norea is a large and amazing development project in Cambodia with unique architecture. The Koh Norea Satellite City in Nirouth, Chbar Ampov broke ground in late 2020 and is one of the biggest infrastructure and real estate development projects in Phnom Penh. It covers over 125 hectares and will include commercial areas, entertainment areas, residential sections, schools, banks, a medical centre, and many other urban conveniences.
Koh Norea development project, which has enormous potential in key sectors such as modern commercial buildings, luxury apartments, international hotels, vast modern office space buildings, and a range of recreational activities. Currently, Koh Norea City Development Project is also available for sale as a plot of land for villa, a plot of land for the construction of a commercial building along the Mekong, Tonle Sap and Tonle Bassac rivers, which is the perfect location of Phnom Penh.
Singapore Development Company AKRAM Development Co., Ltd has bought more than 3.5 hectares of property in the Koh Nora region from Overseas Cambodian Investment Company (OCIC) for its top luxury development project, with plans to spend more than $ 150 million.
Mr. Kelvin Chua, CEO of AKRAM Development Co., Ltd., said the purpose of the acquisition was to develop a top-of-the-line luxury project, seeing Koh Norea as a perfect location not only along the Mekong River, but It is also close to two other greats side, Koh Pich Satellite City and NagaWorld.
Beside the project development in Koh Norea, Vue Aston project is also a part of the Koh Norea . Vue Aston development is developed by The Peninsula Capital Co., Ltd and is jointly designed by HKS Architects, and the Golden Mantis Decoration Design Company. The development comprises 38 stories with plenty of premium amenities and facilities providing residents with luxurious living standards with a view of Phnom Penh’s Mekong and Tonle Bassac Rivers.
Mr. Sam Sok Noeun, president of the Global Real Estate Association, told the Phnom Penh Post that Norea’s fresh clean air environment and proximity to the city centre, the riverside and National Road 1 would make it a desirable place to live once the two bridges are open to traffic.
“Koh Norea is in a great location for all aspects of livelihoods and investment, and real estate there will see high growth down the line,” he said.
Koh Norea, on the other hand, is a satellite city in Chbar Ampov district, while the development of Koh Norea, which is similar to Koh Pich by OCIC, is expected to transform the image of the area in Chbar Ampov district and increase property prices along national roads. No. 1.
In fact, in Chbar Ampov district, there are many housing investment projects for the supply of real estate, those housing projects include:
– Borey Peng Huoth Boeung Snor is the largest Borey project on National Road 1, which brings together unique fashion houses such as shops, single villas, twin villas and multi-million dollar villas. In Borey, there are all kinds of services, like a small town, there are small and big resturants, schools and so on.
– Borey Hi-Tech Luxury is also a big Borey project on National Road 1. High Tech Lux Sary focuses on the development of luxury housing for the affluent. The Borey is just over 800 meters east of the Monivong Bridge.
– The Palms Housing Development is a joint venture between Worldbridge Land (Cambodia) Co., Ltd., a Cambodian-based real estate company, and Oxley Holdings Limited, a Singapore-based real estate developer. The Palms Housing Development Project is the first luxury resort housing project in Phnom Penh. This project offers a variety of residential houses such as riverside villas.