Olympia City’s Condo Towers Ready For Residents in 2016

Olympia City’s Condo Towers Ready For Residents in 2016

After four years of construction, two of Olympia City’s condominium towers are scheduled to open to residents and businesses later this year.

The massive Olympia City project features 13 skyscrapers and is being built on 6 hectares of landmass north of the National Olympic Stadium. The award-winning complex features two 36-storey buildings, five 25-storey buildings, five 20-storey buildings and a 60-storey skyscraper as well as a modern super-market.

Developed by Cambodian conglomerate Overseas Cambodian Investment Corporation (OCIC), the Cambodia’s leading developer behind dozens of property development including Diamond Island, the iconic luxury city is financed by Canadia Bank.

OCIC confirmed in late August that Condominium Tower 1 (C1) and Condominium Tower 2 (C2) will be open to residents late this year, followed by the opening of Condominium Tower 3 (C3) and Tower 4 (C4) in late 2017. The four towers are among the 20-storey buildings being constructed in Phase 1. More properties are expected to be gradually opened to residents from the end of 2016 onwards.

When complete, the Olympia complex will feature the Olympic Plaza (shopping centre), commercial facilities and shop-houses, apartments, a business centre & skybar, a fountain park and a 500-room hotel. It also is designed to provide parking to accommodate 2,844 cars.

What makes Olympia City special is how business and lifestyles are effortlessly combined. The 4-storey shop-houses (flat) are designed for both commercial and living purposes, allowing clients to do commercial activities on the first and second floors while dwelling on the third and fourth floors. Above the shop houses, the condominiums are built from the fifth floor upwards to the twentieth floor and above.

Thanks to its stunning design and build quality with backing from a developer with a strong reputation, Olympia City received numerous awards at the inaugural Cambodia Property Awards in 2016 earlier this year where dozens of entries competed for the prestigious award nominations.

Besides winning the award for ‘Best Mixed Used Development’, Olympia City also won ‘Highly Commended’ titles for the \' Best Residential Architectural Design (low-rise)\' , \'Special Recognition in CSR\' and, \'Best Condominium Development\' categories. Developer OCIC also won the ‘Highly commended’ title for \'Best Developer\' at the region’s most highly regarded awards.

After receiving planning approval from the government in mid-2011, OCIC kicked off construction on the Olympia City complex in 2012 and expects to have all the properties online in 2018, project site manager Mr. Ngoun Hanrith  told Construction and Property Magazine.

He explained that the project is being constructed in three stages with the tallest tower housing the 500-room hotel to be built last.

Phase I, which was built from 2012 to 2014, dealt with the surface works and built the three 20-storey apartments; Phase II, from 2014 to 2016 built some of the medium high buildings; and Phase III, from 2016 likely until 2017 or 2018 will see the company build the 60-floor hotel and the supermarket.

“People usually see luxurious cities in other countries such as in Thailand, and they only know of some luxurious developments in Phnom Penh, but Olympia City will introduce them to the most high-end complex in the city just near to them,” Mr. Hunrith said.

The developer OCIC has set high expectations for this project, believing it will be one among the most luxurious city complexes in the kingdom comparable to luxurious residential and commercial compounds in neighbouring countries.

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