Elegant 21 unit apartment building for rent | Riverside Daun Penh

Details

Located in the very centre, the heart of Riverside and Daun Penh near the Royal Palace and Naga World is this elegant apartment building now for rent. Sporting a large roof terrace with jacuzzi, sauna, gym and steam room, large apartments with city views as well as plenty of undercover parking.

This is a fantastic business opportunity when Covid lifts its pressure from the city.

Building features:

• Ground floor has plenty of undercover parking and a large space for a retail shop.
• The rooftop is perfect for a very large sky bar with amazing city views.
• Total 21 units: 6 x 3 bedrooms and 15 x 2 bedrooms

Original ID: DP5.Z1

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Daun Penh: the real downtown

Riverside, Daun Penh, the real downtown is the old city – Wat Phnom, Old Market, Kandal Market and Chaktomuk. Many generations’ footprints are here – Angkor kings, French colonists and UN troops. It is where the Mekong, Tonle Sap and Bassac rivers meet and where the Water Festival takes place each year.

Riverside is always stunning especially at sunrise and sunset. Day and night it is busy and a popular tourist spot.

Sisowath Quay (in honor of King Sisowath) is the riverfront road. It starts at the Buddhist Institute and continues north to Japanese Bridge. There it becomes Road 6 and out of the city.

The area has a wide choice of restaurants, wellbeing services, hotels, shops and bars. Among the restaurants, you will find Italian, French, Japanese, Vietnamese, Indonesian and Malaysian.

A personal reflection on Riverside

Street 172 is punctuated with $3 massage joints and bars occupied by grey faces framed with light grey hair. Yet, just around the corner, Street 178 is now arguably the rising art gallery district of Phnom Penh with the University of Fine Arts and National Museum only a stone’s throw away.

Friends Café has made a bold statement and the Mansion House seems to be waiting for reincarnation. Now the Hyatt has opened its doors to the Jet set, it may well be a different designer-schmick precinct to what is currently now.

In fact, when you look up along 172, the standard of shophouses is somewhat ‘better’ than in other parts of the city: it could be the rising star of Daun Penh and Riverside.

In the surrounding streets in this part of Phnom Penh, there is a sense that there are too many hostess bars, each vying for a shifting slice of the tourist and expat pie. Rents will rise with the inevitable escalation of land values and the ROI of each vendor’s patch will become more and more critical as the clock ticks.

Looking at Phsar Kandal and the open block where Prey Sar prison once sat. one can’t help but wonder what’s coming next.

Given its proximity to Riverside and the 172 and 178 ‘sweet spot’, maybe there is something special waiting in the sidelines, something for the inspired new generation of architects and artists.

As of last week, digging has started. My guess is a shopping centre, possibly with apartments too!

Post Covid, 2022 and a brave new normal

There is some doubt as to what a post Covid world will look like even though many say things will be back to a brave new ‘normal’ by the end of 2022.

It is widely known that the pandemic changed consumer behavior and spending habits enormously. The suspension of regional and international travel, for instance, directly impacted retail, tourism and hospitality sectors across the globe.

This led to a rise in online shopping and entertainment platforms and is likely to create long-term effects on retail markets and eventually real estate.

However, the market remains in flux and has already changed irrevocably due to shifted consumer habits (and now the Ukraine war will play a role).

How this will affect real estate in any significant way post 2022 is yet to be seen, but aspects of building design and transport are likely to change as a result.

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