Bridge SoHo launch receives warm reception

Bridge SoHo launch receives warm reception

Thu, 5 June 2014 Hin Pisei Sales of the SOHO (small office and home office) component of The Bridge condominium project, which will have 54 floors and will be built with an investment of $300 million, officially launched last week. Sear Rithy, director of World Bridge Land, said he was proud and excited to be able to bring a new lifestyle to Cambodia. A SOHO is a block of small units that are designed for both living and working. At The Bridge, the size of the units will range from 32 to 54 square metres. “I aim to bring standard home and office units to Cambodia with this launch,” he said, adding that 11 per cent of the units sold in the first two hours after the sale was announced. World Bridge Land director Sear Rithy is excited about The Bridge’s SoHo offerings. Hong Menea The Bridge is a joint venture between Singapore Oxley Holdings and Cambodia World Bridge Land. Each unit was priced from $3,000 per square metre on the first day of the launch. Dith Channa, general manager of VMC Real Estate Cambodia, said The Bridge project was an exciting development that was perfectly in line with Cambodia’s development, which he expected to remain strong due to impending Asean economic integration, Cambodia’s growing foreign population, and demand for residential and office developments defined by quality, modernity, good amenities and central city locations. “The Bridge project will be successful, despite the relatively high prices for the units, due to its excellent location and design,” he said. The Bridge is being constructed in the Tonle Bassac area close to...
New report sees strong tourism growth

New report sees strong tourism growth

Thu, 5 June 2014 Post Staff CBRE Cambodia’s latest MarketView report sees strong growth in Cambodia’s international tourism sector, with particularly strong in international arrivals resulting in growth in hotel occupancy rates and durations of stay. According to the May report, international arrivals in 2013 increased 17.5 per cent, to a total of 4,210,165, up from 3,584,037 in 2012. “The average length of stay also increased to 6.75 days, up from 6.5,” the report says, adding that “average hotel occupancy rates in 2013 rose to 69.53 per cent, up from 68.49 per cent the previous year.” Chris Hobden, surveyor for CBRE Cambodia, says: “We expect this trend to continue, in part driven by relative political stability,the variety and quality of accommodation on offer in addition to significant planned improvements to national infrastructure.” Meanwhile, however, Phnom Penh continues to lag behind the jewel in Cambodia’s tourism crown, Siem Reap – home to Angkor Wat – in terms of international arrivals. “Siem Reap remains the most populardestination for tourists entering Cambodia, with arrivals into SiemReap International Airport accounting for 28.1 per cent of all arrivals, compared to Phnom Penh’s 19.9 per cent.” Hobden says that CBRE does not anticipate a change in that balance of arrivals, noting that the increasing popularity of Sihanoukville will not necessarily work to Phnom Penh’s advantage, due to direct flights between the Siem Reap and the beach destination. “Tourism to Sihanoukville is expected to increase over the coming years, with frequent flights available from SiemReap and with the delivery of new luxury hotel accommodation off the Sihanoukville coast,” the report says. Meanwhile, the report notes that,...