Friday 12 Apr 2024
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PHNOM PENH (Jan 31): Sir Stamford Raffles Group Pte Ltd (SSRG), a Singapore-based developer on Wednesday unveiled a 22.6-hectare freehold township dubbed the Marum Estate, located in the Kandal province of Phnom Penh, Cambodia.

Nestled in the southern part of Phnom Penh, Kandal province is the new economic corridor of the country, driven by the upcoming Techo Takhmao International Airport.

“South Kandal is the new economic corridor due to the progress of the [upcoming] airport — Techo Takhmao. The progress is encouraging and the completion is targeted to complete in 2025. It ties in well with Marum Estate development,” SSRG founder and group co-CEO Ng Aung San told the press during the launch of Marum Estate held in Hyatt Regency Phnom Penh hotel on Wednesday.

He added that apart from the new airport, infrastructure projects such as the Monivong-Hun Sen flyover is expected to alleviate connection to the province. “Once it’s done, connectivity from Marum Estate to the capital city will be faster and easier.”  

In the same event, SSRG also announced its partnership with Parkway Cancer Centre and Khema International Polyclinic to provide medical expertise for the upcoming Marum Hospital, which is part of the master plan. The township also consists of residential and commercial components, as well as a school and a community club. 

Marum Estate is expected to be completed by 2030 and will be developed in two phases. The first phase, which mostly comprises landed houses and some shoplots, will commence construction in 2Q2024. The development is currently undergoing earthwork and infrastructure work.

According to SSRG, Marum Estate will offer a total of 642 landed residences with six types of units — Greenwood Residences (1,463 sq ft, three bedrooms); Orchard Residences 1 and 2 (1,959 sq ft, four bedrooms); Sanctuary Residences (2,647 sq ft, five bedrooms); Reserve Residences 2 (3,713 sq ft, six bedrooms) and Reserve Residences 1 (4,488 sq ft, eight bedrooms). The selling price starts from US$190,000 (RM898,605).

“We are targeting about 80% to 90% local affluent Cambodians… It will also cater for multigenerational living [as we have] eight to five-bedroom units,” said Ng, adding that the remaining 10% to 20% will be targeted at international buyers.

Marum Estate is accessible via Ring Road 2, Ring Road 3, National Road 2, National Road 3 and Kur Srov Circle and it is located in the vicinity of a variety of shopping malls like Aeon Mall Mean Chey and Chip Mong 271 Mega Mall; leisure attractions such as Tonle Bati Resort, Phnom Tamao Zoo and Amazon Resort; as well as education institutions.

Edited ByRachel Chew
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