Demand high for $70m condo

The Singaporean firm behind Axis Residences, set amid verdant greenery, say 30 per cent of 2 blocks from phase 1 booked. Axis Residences, the upcoming condo project in the proximity of Phnom Penh International Airport, is already in demand even though the showroom has yet to be completed, according to the developers. Axis Residences will consist of eight condo buildings of 10 floors each. photo supplied Axis Residences will consist of eight condo buildings of 10 floors each. Photo Supplied “Cambodians often come with their friends, considering and then booking a few units among themselves,” said Edwin Low, general manager of Spring CJW Development, the Singaporean firm behind the $70 million and more than two-hectare project. “They are drawn to the idea of living in a lush environment, convenience of being surrounded by first-class facilities, privacy in their own contemporary unit and yet being neighbours with their best pals.” Construction managed by Singapore-based Sanwah will begin in June next year and is scheduled to finish in 2018. Eight condo buildings of 10 floors each – making up a total of 566 units – will be set amid lush greenery. A Singaporean architecture firm, Aga Architects, is designing the project, where amenities include a 50-metre swimming pool, playgrounds, indoor and outdoor gymnasiums, tennis and basketball courts and BBQ pits. The showroom will not be completed until next month, but potential buyers and investors are already visiting the developer’s office for a glimpse of the project, according to Low. Although sales will not officially launch until February or March, the good response has led the sales team to accept early bookings. Presales start at $1,100 per square metre for one of four options: single, double or triple bedroom and penthouse. Of the two condo buildings open to presales, 30 per cent of units have been booked, mostly by Cambodian, Singaporean and Malaysian clients.