Urban Village, Only Project Completed Amid Covid-19 Outbreak, CBRE Reports

The third quarter market view report released on 12 October 2020 by CBRE Cambodia shows Urban Village was the only condominium project in Cambodia to have completed in this quarter amid the ongoing outbreak of the global pandemic Covid-19.
The completion of Urban Village Phase I has resulted in the increase of the total supply of condominiums across Phnom Penh by 3.97 percent equals 828 units, the report says.

Urban Village is the biggest Hong Kong-invested and community-focused development located in Phnom Penh’s real estate development hotspot in between Samdech Hun Sen blvd and National Road 2 (end of Norodom blvd).

Urban Village’s Founder and Chairman Mr. Ben Li said, “Commitment is one of the core values of Urban Village’s team. We are working really hard despite all issues and difficulties caused by Covid-19 to deliver dream homes to our clients on time. We are really proud of everyone on the team. We could not have done this without them.”

“Currently we are focusing on our Urban Village Phase II. We have already completed the foundation work. Given our past records and our team’s commitment, we are confident that we will able to deliver to our clients on time again”, Mr. Ben Li added.

Urban Village Phase II is a multi-use project consisting of residential units, office spaces and retail stores. It covers a total of four towers, one of which is the tallest building along 60 meters road or Samdech Hun Sen Blvd. Scheduled to be completed in June 2023, Urban Village Phase II has been 75% sold with two towers completely sold out.

According to Ms. Catherine Chan, the Founder and Executive Director of Urban Village, Urban Village is the first and only condominium project from Cambodia to ever win the “Best Condo Development in Asia Award” in 2019 presented by PropertyGuru from Singapore. It is also a 2-time winner of “Best Condo Development” both in Phnom Penh and Cambodia in the year 2019 and 2020.

“We represented Cambodia to win the Best Condo Development in Asia Award for the first time in history in 2019 and this year we are proud to be nominated and represent Cambodia again for this award,” Ms. Catherine said.