SINO PLAZA PRESS RELEASE
Sino Plaza located in the south of Phnom Penh behind Ministry of Land Management Urban Planning and Construction, and considered a matured neighborhood, with many traditional conveniences and eateries within easy access and walking distance from one another.
The location is surrounded by major embassies and government departments which lends prestige to the area, while being just a stones throw from BKK1, Cambodia’s most desired residential district where most of the nation’s finest international schools, medical clinics and eateries are located. It also shares the convenience of the Toul Tom Poung, an up and coming bohemian neighborhood, much like the Greenwich Village of New York.
Sino Plaza also, provides connectivity via Monivong Road, one of two main arteries, that connects to all major roads in Phnom Penh and its accessible via 3 different roads in all directions, easing any future traffic congestions in the area.
The project started construction in mid 2015, and now all foundations are complete, with around US$15 million already invested, the developer, looks set to make Sino Plaza the talk of the town. The total estimated project value of Sino Plaza is more than US$240 million and is slated to be ready for occupancy by end 2018.
Sino Plaza is a venture of Cambodian Natural Lucky Real Estate Development Co. Ltd, wholly owned by CYTS (China Youth Travel Services) a state owned company in China.
Besides, the shear number of units in Sino Plaza provides economies of scale for maintaining a development with the most-extensive onsite facilities of any development currently underway in Phnom Penh.
With 2400 units in 4 tower blocks, Sino Plaza set to be the the most sustainable and biggest mixed use development within Phnom Penh City. Being a mixed use development, the Office Tower within the complex will ensure that the commuting time to work is minimized. Meanwhile, The Mall space at Sino Plaza, which has already been 50% leased out even before its completion of construction provides residents with a complete shopping, entertainment and relaxation facilities, comes with an International SPA, A Gold Trading Center, Hypermarket, International KTV and restaurants serving cuisines from the world over and caters to all tastebuds.
Considering the convenience, completeness and the high potential appreciation from rental yield and capital, Sino Plaza will be remain the most desired development in Cambodia for at least the next 5 years after its completion.
In addition, this is the first ever development in Cambodia that the developer is adopting the foreign method of CSR (Corporate Social Responsibility), allocating a certain percentage of units at a very special price for the local Cambodians only. The whole tower is actually priced slightly lower than market rate to ensure the affordability for Cambodians with end-user financing and giving them an opportunity to upgrade their lifestyle.
Ultimately, this means that this development will never be unoccupied and empty, which supports retail sustainability. The developer has built this with upgrading and completing the lifestyles of the people living there.
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