Diamond Island Riveria: OCIC’s ambitious new development in Phnom Penh, Cambodia

Condominium 2Koh Pich is one of the premier addresses in Phnom Penh, and will become the consumer precinct for the city if developer Overseas Cambodia Investment Corp (OCIC) has anything to do with it.  Their latest development is Diamond Island Riveria, an ambitious, luxury condominium and commercial project.

About Diamond Island Riviera:
Diamond Island Riviera provides its buyers with completely furnished apartments in a luxury development estimated to cost US$700 million and occupying 330,000 square meters. The complex includes five high rise condominiums, three of which have already broken ground, and car park that will hold 2,000 cars. The development includes panoramic views of three rivers; Mekong, Bassac and Tonle Sap Rivers.

Facilities for residents include a club, horizon swimming pool and all the five star touches you would expect from a development such as this. There is 24 hour security, including a sophisticated surveillance system, fingerprint identification and property management that promises to be like staying in a five star hotel.

The development will include the following facilities:

  • The largest shopping centre in Phnom Penh
  • An internationally accredited school
  • A hospital
  • International exhibition and convention centre
  • City Hall
  • A Landmark building, the 555 meter Phnom Penh Tower

The residences available in the development include:

  • F1: 3 bedrooms, 3 bathrooms with living room, balcony, study, breakfast room, dining room and maid facilities over 283 m2;
  • F2: 4 bedrooms, 4 bathrooms, living room, balcony, breakfast room, dining room and maid facilities over 343 m2;
  • M1: 3 bedrooms, 2 bathrooms, living room, multipurpose room, balcony, dining room over 180 m2;
  • M2: 3 bedrooms, 3 bathrooms, living room ,multipurpose room, balcony, dining room, study over 191 m2;
  • M3: 3 bedrooms, 3 bathrooms, living room, multipurpose room, balcony, dining room over 206 m2

Pricing:
Prices range from US$270,000 to US$900,000 and each has their own elevator.

Elaborately furnished, this development has used Chinese influence in its interior designs.  Lavish chandeliers, mirrors and wood are used to give the apartments a rich and decadent feel. Some of the apartments will even include gold foil ceilings and marble inlay floors.

Expected to be completed in 2017, sales enquiries are already open for this luxurious resort. Whilst Cambodians aren’t used to the idea of living in a condominium, foreign buyers will certainly be familiar with the concept. There are questions about whether Koh Pich will prove to be a good investment in this region, it is estimated it will take at least a decade before any opportunity for capital appreciation can be seen. However these apartments are priced considerably lower than for similar developments in neighboring countries, making them a potentially attractive investment.

About the Developer:
Little information is available out OCIC, yet they are one of the largest real estate development companies in Cambodia.  They have done several significant projects including Canadia Tower, Sorya Department Stores and Rose Condominiums.

Contact:
If you would like further information about this development you can visit the website or contact on the following:

Email: info@di-riviera.com

Phone: (+855) 023 666 2222, 023 668 2222, 088 990 2222, 077 949 131