The Peak Cambodia Phnom Penh by Oxley
The Peak Cambodia will be a 55 storey integrated development with Shangri-La International hotel which will have shopping mall and leisure and recreational components combine in the same project. Shangri-la International Hotel has appointed Oxley Holding to develop, construct and fit-out this Five star international luxury hotel with 300 guest rooms in Cambodia Phnom Penh.
Phnom Penh Cambodia’s capital is located on the banks of the beautiful Mekong and Tonle Sap River with a increasing growing population of around 2 million people. Foreign investment couple with strong growth in tourism, garment and agriculture sectors fuelling economic growth in Cambodia.
Cambodia GDP growth of 7.5% in 2013 combine with its rich cultural and entertainment pleasures Phnom Penh offer make it a attractive destination for many international expatriates to relocated there.
Phnom Penh is a rapidly growing city with bars, cafes, entertainment centres, supermarkets and schools. Area in Boeung Keng Kong 1 are quieter with tree lined avenues and more spaciously positioned buildings. Other area such as Central market are busier and higher density. The riverfront area offers views of the beautiful Mekong River and the Russian Market is an new up and coming area in Phnom Penh.
The Peak Cambodia Location In Phnom Penh
The Peak Cambodia is located in super prime area facing the river and surrounded by Embassy, Phnom Penh largest shopping Aeon mall and Phnom Penh only Casino in Naga World. Its location is also popular among expats.
The Peak Cambodia Facilities
Advantages of Investing in Cambodia
Under current Prime Minister Hun Sen leadership, Cambodia has enjoy peace and prosperity for almost 2 decades.
GDP growth forecast of Cambodia is well above 7% from 2014 to 2018.
The median age of Cambodia population is 24.1 years. Potentially this means Cambodia’s young work force will contribute to steady growth of it economy in the future. The combination of a young work force in a growing economy with a stable government plus strong foreign investment will definitely translate to higher spending power in domestic population and a appreciated real estate market.
Nagaworld and Aeon Mall near The Peak Cambodia
Nagaworld Phnom Penh is the first and the best integrated casino in the class with hotel, shopping and entertainment complex combined in the same development is a stone throw away from The Peak Cambodia. Nagaworld is owned by Nagacorp listed on the Hong Kong stock exchange.
Aeon Mall is Cambodia’s largest shopping mall which open in 2014 are operated by Japanese retail giant Aeon Co. Ltd. The four storey mall sits on 100,000 sqm of retails space with 190 shops, an ice ring, food courts, seven cineplex and the bowling alley. The Peak Cambodia is walking distance to this new mall.
ASEAN Free Trade Agreement
ASEAN, the Association of South-East Asian Nations, is gaining considerably in importance as a trade bloc and is now the third largest in the world after the European Union and the North American Free Trade Agreement.
Comprising the Asia Tigers of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam (the ASEAN 6) with the smaller players such as Brunei, Cambodia, Laos and Myanmar, it has a combined GDP of US$2.31 trillion (2012) and is home to some 600 million people.
The ASEAN bloc have largely cancelled all import and export duty taxes on items traded between them, with the exception of Cambodia, Laos, Myanmar and Vietnam, who continue to impose nominal duties on certain items. However, these too will be completely lifted as of December 31st, 2015, meaning that the entire region will be duty free from this date.
Cambodia Property Price has high appreciation potential and rental return
Cambodia properties price is still low compare with the rest of the neighboring countries. But in turn of rental yield below chart show that it is much higher then many countries where property prices are much higher.
Major Advantages of investing in The Peak Cambodia Phnom Penh
- Political stability. Although in the past decades the country witnessed war and civil unrest, in recent years the ASEAN member is socio-political has tuned 180 degrees and it enjoys a relatively peaceful era under Prime Minister Hun Sen.
- Macroeconomic stability. Cambodia’s developing economy has an anticipated high-growth outlook.
- Low inflation.
- Stable exchange rate.
- Low debt-to-GDP rate.
- Investment incentive. The country has an existing investment law that provides very generous incentives for investors. No foreign levy or capital gain tax.
- No exchange control.
- Every economic sector is open to foreign investment.
- Full ownership. Foreign investor can own 100% of their business.
- Money can be easily transferred into and out of the country.
- Its young work force will mean better purchasing power in the near future and demand for housing will increase due to household formation.
- High GDP growth.
- High rental return.
- Cambodia being strategically located beside Thailand and Vietnam and midway between China and India enjoy economic spill over from the growth of all its neighbouring counties economy.
- Cambodia has many untapped natural resources such as popular tourism sites, mineral deposits, off-shore oil and gas reserves and lots of fertile land for agriculture.
- Reputable public listed Singapore developer will good track record.
The Peak Cambodia Project Details
Developer : Oxley Gem (Cambodia)
Tenure : Freehold
Type : Mix development with integration with hotel, shopping mall and recreational facilities
Total Unit : 1014
TOP date : 2020
Unit Mix : 1/2/3 Bedroom
The Peak Cambodia Price and Psf
The Peak Cambodia Price for Studio : USD $1xx,000
The Peak Cambodia Price for 1 Bedroom : USD $2xx,000
The Peak Cambodia Price for 2 Bedroom + Study : USD $2xx,000
The Peak Cambodia Price for 3 Bedroom : USD $2xx,000
The Peak Cambodia Payment Schedule
- Booking Fee of USD $1000
- 10% less booking fee within 21 days of booking
- 10% by 1st Feb 2016
- 10% by 1st Aug 2016
- 10% by 1st Feb 2017
- 10% by 1st Aug 2017
- Balance 50% upon completion and TOP.
The Peak Cambodia – Fee and Taxes
Legal Fee : $50 to $100 if using notary public fee for witnessing signature. USD $300 upward for Cambodian Lawyer (optional)
Stamp Duty (Transfer fee for hard title) : 4% of property value payable upon Handover
Tax on immovable property : 0.1% per annum (value determined by immovable property assessment committee)
Tax on rental income : 10% per annum on gross rent
Capital gain tax : Not applicable for individual. 20% for corporate.
VAT : 10%
The Peak Cambodia Floor Plan
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