The Board of Directors of Oxley Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) has announce that the Group’s 49%-owned joint venture company, OxleyWorldbridge (Cambodia) Co., Ltd, had officially launched its second development project in Phnom Penh on 18 September 2015.
The project better known as The Peak Cambodiais
a hotel mixed development comprising two residential towers, one commercial
tower which includes a Shangri-la hotel, and a retail podium. The construction
is expected to commence in early 2016 and be completed by 2020.
The VVIP preview launch drew
good response from investors who acted swiftly to secure their choice
residential units at The Peak. The phase one launch of one residential tower of
507 units saw success as investors recognise the potential in the project. C
Coupled with the prime
location, such investors envisage good returns on their investment in Cambodia,
a fast developing country. As of 23 September 2015, more than 30% of the
507-unit residential tower were sold and the figure is expected to grow
steadily.
The Group’s first project, The
Bridge Cambodia, which is in close proximity to The Peak, has similarly
enjoyed successful sales since its launch in March 2014. The Group intends to
launch The Peak for sale in Singapore in mid-October 2015.
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