Cambodia is fast becoming a popular holiday destination of choice for luxury holiday makers. And why not? It has the warm, balmy weather of its more popular neighbors, Thailand and Vietnam, and the peace and tranquility of somewhere that is still relatively untouched. The latest development by Koh Puos (Cambodia) Investment Group, Ltd. (KPIG), Morakot Island, is a case in point.
Located on Koh Puos Island, off the coast of Sihanoukville in the Gulf of Siam, Morakot Island is the only island property development in Cambodia that has direct access to the mainland. So you can have the pleasure of complete privacy on this heavenly island, or join the hustle and bustle of Sihanoukville, with only a 950 metre bridge separating you from the two very different experiences that you can combine into your own unique holiday.
About Morakot Island:
Located just off the coast of Sihanoukville, Morakot Island is conveniently located less than 20 kilometres from Sihanoukville International Airport. With its newly constructed concrete bridge, the Island offers guests privacy and security on this stunning property. Set on 120 hectares, the development includes residential, commercial, recreational and amusement facilities. This property is set to be the new “gold coast” for the region.
Some of the facilities that will be available for guests and residents include:
- Direct access from residential villas to the award-winning sandy white beach and tropical reefs;
- A private seaside club house for the exclusive use of Morakot Village homeowners;
- A world-class marina;
- Fitness centre;
- Pitch and putt golf course;
- Community pools;
- Tennis Courts;
- Luxurious spa;
- Convenience stores and retail outlets;
- Fine dining restaurants;
- A business centre;
- 4 and 5 star hotels;
- State-of-the-art casino complex; and
- Satellite TV and high speed internet
There are 14 different development zones for the project, with all anticipated to be completed in 2016. Phase 1 is currently under development and includes three zones; Morakot Bridge, Morakot Beach and Morakot Village. Phase 1 is anticipated to be completed by Q3 this year (2013).
Morakot Village includes 36 waterfront villas, each designed to be a luxurious and welcoming home. There are five different types of villas available, with each including a two car garage, well appointed interior, gourmet kitchens with built-in appliances and outdoor swimming pool. The architecture and design of the villas is intended to bring together the best of modern facilities with traditional Asian tropical style. For owners, there is flexibility available to choose the style and finishings for their new home.
The five different type of villas are:
- Orchid: Set on land of between 500-700 sqm and with a villa size of 565 sqm, this property includes three bedrooms and four bathrooms set over five levels.
- Lotus: Four stories high, this three bedroom residence includes six bathrooms and is set over 565 sqm.
- Heliconia: This four bedroom residence has six bathrooms over three stories. The villa size is 520 sqm and it is set on a land plot of between 750 − 1200 sqm.
- Magnolia: With a land plot ranging from 800 to 1200 sqm this 510 sqm villa has four bedrooms and six bathrooms, spread over three stories.
- Jasmine: Set on land of between 800 and 1200 sqm, this three story property has three bedrooms and five bathrooms in a 460 sqm villa.
Pricing for one of these stunning villas starts at US$1 million.
Morakot Hills will include four low-rise condominiums that have 198 apartments and penthouses set over multiple terraces and sea views. Each residence will have expansive glass windows and open plan layouts to give them a spacious and airy feel. The property types include:
- Studio Apartments: Two different floor plans with an indoor area between 57-58m2 and an outdoor area between 13 and 20 m2. There will be 9 Studio Apartments.
- One Bedroom Apartments: Three different floor plans are available with 70 apartments in total. They vary in total area from 73 to 87 m2.
- Two Bedroom Apartments: There is much greater variety in two bedroom apartments, with seven different floor plans available. Seventy Two apartments will be part of the complex with sizes varying from 106 to 146 m2.
- Three Bedroom Apartments: With five floor plans available, the 48 three bedroom apartments range in size from 144 to 204 m2.
- Penthouse Apartments: The piece de resistance are of course the penthouse apartments. There are 8 apartments available in two different floor plans. The indoor area ranges from 250 to 258 m2, and outdoor space from 163 to 247 m2. Each comes with their own rooftop swimming pool.
The prices for the apartments start at US$120,000.
Rental Management Program:
The property has a rental management program in place to enable owners to maximise their investment. The Management Company will manage all aspects of the rental process, retaining 50% of rental receipts after tax as its fee. The fee will include advertising, cleaning, maintenance and general management.
Purchase and Payment Process:
For Foreign Nationals and Cambodian citizens alike, the properties can be purchased as a 99 year sub-lease. The staggered payment process is:
- An initial deposit of US$10,000 is payable upon signing the Reservation Agreement.
- Shortly thereafter the Property Lease Agreement is signed.
- Once the villa commences construction a further 15% of the total price is payable.
- Upon completion of reinforced concrete foundation a further 25% of the purchase price is payable.
- Once the villa structure is completed 35% of the price is payable.
- The remaining outstanding less the reservation fee plus legal registration fees is payable upon signing the Certificate of Acceptance and Sub-lease Ownership Agreement.
Then you are ready to move in.
About the Developer:
Koh Puos (Cambodia) Invesment Group (KPIG) is the Cambodian arm of an international property development company, focused on representing the highest level of excellence and luxury in its residential, hotel and retail properties. Based in Cambodia, KPIG primary focus at present is bringing Morakot Island to fruition.
They can be contacted on their website or at the Phnom Penh office (+855) 23 210 620.
The website for the development also includes a contact form and further information on the development.