Project Review:

Quick Review the Peak Shoppes

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Market View

The Peak Shoppes is an ambitious mixed development project located along Mekong River right at the heart of Phnom Penh. With few investment opportunities of such high profile schemed within the city, The Peak Shoppes is a luxurious leading product currently on the market presenting a perfect opportunity for foreign investors due to change in Foreign Ownership laws and local residents to invest in this property.

With increased demand for both commercial and residential spaces, I do hope my personal review will shed some insight on important aspects of the property development and the current prevailing market conditions which will be vital when making that all important decision.

Details about the development

The Peak Shoppes is a freehold condominium project is developed by a joint partnership between Oxley World bridge(Cambodia) Co. Ltd and Oxley Holdings Limited. The prestigious project has an estimated land area of 12,670 square meters comprising of an integrated 4-in-1 development that will comprise of residential apartments, business offices, retail space, and the world famous Shangri-La Hotel.

The two towers will have 507 residential units each geared towards providing future residents with a luxurious urban living experience. The units will be a blend of 1-3 apartments, CapitaLand Retail signed an agreement to manage The Peak Shoppes overseeing retail management, asset planning and pre-opening of the five storey mall. The project is expected to be completed in 2020.

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Tenure

Freehold

Location

Village No. 14 SamDach Hun Sen Road

TOP

Dec 2020

Site Area

Approx. 12,670 sqm / 136,382.4 sqft

No. of Units

508

Developer

Oxley Gem (Cambodia) Co. Ltd

Project Location

The Peak Shoppes address is Village No. 14, Sam Dach Hun Sen Road, Chamkarmorn District, City, Phnom Penh, Cambodia overlooking The Skyline of Diamond Island onto the Mekong River.

The Peak Shoppes Google Map Location

The Peak Shoppes Google Street View

Located along the river esplanade, The Peak overlooks the historic Mekong River and Phnom Penh’s vibrant cityscape. The property is surrounded by high-end condominium projects and key government and commercial offices which increases the potential for further development.

The Peak’s immediate catchment area covers the prime residential and commercial districts of Chamkarmon and Diamond Island.

For businessmen, Business Convention Centers in Diamond Island is a 2-minute drive from the property providing quick and convenient access. Its closeness to the Central Business District also makes it a popular choice amongst the young working-class professionals

The property is 30 minutes away Phnom Penh international airport making it really advantageous and convenient for expatriates and foreign investors.

Also read: Ultimate guide to Cambodia property investment

The Peak near Phnom Penh international airport, a 30-minute drive from Peak Shoppes

To get to the airport, it’s approximately 16 km; if you are driving, you will take approximately 33 minutes to reach the Phnom Penh International airport when using motorcycles its roughly 27 minutes. On the other hand, walking by foot is almost impossible and time-consuming as it takes about 2 hours and 30 minutes

The Cambodia railway station is nearby, and it will take you approximately 15 minutes is you are driving. According to Google maps the distance is approximately 4.2 km if you are driving from the property via Preah Norodom Blvd and 17 minutes via Preah Ang Yukanthor street, for those who are in the mood for a walk it will take you roughly 51 minutes to reach the station.

The fastest route to access the property in normal traffic is taking Preah Norodom Blvd (41) 44-kilometers which takes an estimated time of about 11 minutes when driving and there is no traffic jam

Approximately 5-min walk to AEON, Phnom Penh’s largest mall with supermarket, cinema, bowling alley, ice skating rink & many international brands and F&B

The Peak near aeon mall

According to Google Maps, it’s a 5-minute drive to Aeon mall, for those who love to walk the Aeon mall is a mere 15-minute walk. You will need to Head south on Samdech Hun Sen Street.

The Peak near Nagaworld casino

Its more convenient to walk to Nagaworld as it’s a 2-minute walk from the property, according to Google Maps its 400 meters away

Main selling points about the development

One of the key selling points of the property sits on rare freehold tenure. Buyers and investors will have the perfect opportunity to become permanent owners of the property, they will also be allowed to dispose of their property if they decide to sell it finally and the most important of all future residents will be able to customize their own apartment units according to their taste and preference.

Due to its convenient location, I believe the property will witness high rental demands due to its close proximity, with increased tourist visits the Shangri-La hotel will experience higher hotel occupancy rates. Its location makes the property the perfect destination for foreign investors, rich locals and expatriates who want a taste of the luxurious modern lifestyle.

The property is also well-connected to the public transportation system, the Phnom Penh is 30 minutes away, and the Peak Shoppes can be easily accessed by access roads such as Preah Norondo Blvd and Preah Sihanouk Blvd making movement from the property to other regions become easier and hassle-free.

You May also like: The Peak Shoppes Floor Plan

The Peak Shoppes is located to a variety of amenities ranging from entertainment to shopping. Aeon mall and Naga world are world renowned shopping locations offering future residents with the best of everything.

The residential development is located to key government buildings reducing greatly time consumed when buying and selling of property due to its closeness to key government services.

Studies have shown development projects located closer to infrastructural facilities generate increased demand; the Peak Shoppes is nearby word class educational institutions generating increased up-takes rates especially from parents. Zaman International School caters for a lot of foreign kids. Phreah Sisowat high school, International School of Phnom Penh and Build Bright University are within a 1-kilometer radius.

Possible negative points about the development

The Peak Shoppes is situated at the heart of the capital; the government has experienced major challenges when it comes to the provision of basic services such as wastewater treatment, drainage, and public transport. The property is no different future residents will have to contend with these problems.

Traffic snarl-up is a major problem as the country has not upgraded its infrastructural capacity, especially in the capital, leading to a lot of hours being spent in traffic especially during peak hours both in the morning and evening.

My thoughts about the development

I find that the location of the property is in a prime area. With an increased number of property launches within the city, it’s interesting to see the price guide of the new projects as developers try to woo more buyers making it advantageous for many locals.

The reception of The Peak has been met with enthusiasm; the peak stylish bronze design stands apart from other residential development projects making the building iconic and most sought after.

In my opinion, the property is a wise investment decision it’s a no-brainer, the capital is a hub of lifestyle and tourist, and it’s only upwards from their onwards. The ever growing rental market within the vicinity of Peak Shoppes will guarantee high rental returns of over 55% over a period of 10 years.

For residents they will enjoy the benefits of being in the large development area is the cost of maintaining the estate and facilities as well as maintenance charges will be significantly lower as they will be cost-shared by all residents. 

However, with increased foreign investments into the property market, there is an oversupply of residential condominiums within the capital its predicted that prices will plummet in coming years, as investors you should be wary and watch the property market keenly before investing in huge infrastructural projects like The Peak Shoppes.  

  • Pricing – 50%

I have ranked it low because the indicative price guide has not yet been made available by the developer. However, the progressive payment schedule stood out for me; it allows you to pay a certain percentage when a milestone is achieved which goes a long way to make the pricing more manageable.   

Check The Peak Shoppes pricing details

  • Location – 80%

In my opinion, this score is very deserved; the development is located at the heart of the capital. It’s strategically located to public transportation system making accessibility seamless and convenient, its close proximity to various amenities is the main selling point for me, everything you and your family need is literally right at your doorstep.

For those working in the CBD, this is an extremely convenient location to call home, for those intending to rent out this Is the perfect opportunity to take full advantage of.

  • Quality -85%

The Peak Shoppes is the longest storied building in Cambodia at 55 storeys high. Its inspired paragon style design with a stylish and elegant bronze styled clad is a mark of luxury and class, The Peak Shoppes is amongst the few building with unrivaled front row view of the amazing city skyline and landscape.

The 4-in-1 integrated development underlines the quality of the property; I do think the development is well planned and designed from its general layout and positioning of apartment units. The mixed units will cater to all individuals, and I expect there will be healthy rent demand from city dwellers.

I appreciate the fact that the developer of providing solutions to the rising demand both on the residential, commercial and hospitality sector. Read More about The Peak Shoppes Developers

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