![]() ![]() ![]() Born in 1992, the Kingdom's longest-running privately-owned newspaper, which publishes in both Khmer and English, has up-to-date content available online seven days a week, in addition to The Phnom Penh Post, commonly referred to in Cambodia as The Post, has been continuously publishing for 31 years now. “However, since Toul Kork is a C-grade area, project owners should target customers who have an average income.” Heang said Toul Kork was an attractive destination for real estate development as it has a growing young population. “Those that try and sell units to get money to continue and finish their projects will face issues,” he said. Kim Heang, president of Cambodia Valuers and Estate Agents (CVEA), said the project would be successful if the investors had enough financial backing. Soktheng dismissed concerns over Phnom Penh’s already oversupplied residential market, believing Parkway would receive strong demand because the target market is the growing middle class. The project is being spruiked as a multi-community hub in Toul Kork, “consisting of three large buildings, where the first one will be 35 storeys, the second one will be 28 storeys and the third is 26 storeys.” “Our target customers are primarily the locals but also the foreigners,” he added. “Each unit at Parkway will sit from 45 square metres up to 200 square metres, and our target customers will be those with average and high-incomes.” “In our first stage, we will build about 200 to 300 units and a shopping mall,” Soktheng said. Soktheng said the Parkway development would be undertaken in a phased approach over the next three to four years. The project will be built on one-hectare of land and will comprise condos, malls, office space and an entertainment centre. With the groundbreaking process having already taken place, the construction team is beginning to build a two-storey underground parking space which is set to be complete at the end of the year, Soktheng added. A residential, office and retail project will emerge in Toul Kork in coming years, adding more supply to a real estate market which is already facing lacklustre demand.ĭevelopment of this joint venture between Parkway Group and Natong City Daxin Engineering is expected to cost $100 million, according to Parkway project manager Sour Soktheng. ![]()
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