Norea Square
Koh Norea, Chbar Ampov, Phnom Penh
From $72,000one-bedroom, 49 m² gross, 10 % down
Koh Norea, a new riverside district. One-bedroom from $72,000, a developer that builds the city.
Norea Square: price, deposit and completion
Norea Square is a 25-floor building with 224 units in Norea City (Koh Norea), Chbar Ampov, on the river, five minutes by bridge to Koh Pich and eight to the Independence Monument. One-bedrooms are 49 to 54 m² gross from $72,000, two-bedrooms from $125,000, three-bedrooms 146 m².
- $72,000price from, one-bedroom, 49 m² gross
- 49 to 146 m² grossfloor area
- 10 %deposit at contract signingOption 2: cash plan, no bank
- 30 monthscompletionUnder construction, 30 months from groundbreaking.
OCIC is behind Koh Pich and the new airport. For a new district, who the developer is comes first.
Cash plan: 10 % at contract, 85 % in 29 installments, 5 % at handover. The installment is larger, but there is no large payment at the end.
The bridge links Koh Norea to the centre. A one-bedroom with a river view costs from $72,000.
If you want a district that already lives, with cafés, schools and tenants today, Kingston Royale in Meanchey or the BKK1 projects are the safer choice.
Unit types and prices at Norea Square
| Type | Floor area | Price | Units |
|---|---|---|---|
| One-bedroom | 49 to 54 m² gross, 38 to 42 m² net | $72,000 to 94,000 | 108 |
| Two-bedroom | 86 m² gross, 67 m² net | $125,000 to 149,000 | 48 |
| Three-bedroom | 146 m² gross, 115 m² net | $254,434 to 259,019 | 4 |
Payment plan for Norea Square
The deposit at signing, interest-free installments straight to the developer while the building goes up, the balance at handover.
- $7,200deposit10 % at contract
- $2,110per month, 29 installmentsstraight to the developer, 85 % in total
- $3,600at handover5 % at handover
Who builds Norea Square
OCIC (Overseas Cambodian Investment Corporation), via Norea City
The largest development company in the country. OCIC built Koh Pich, the island that is now one of the most expensive parts of Phnom Penh, and is building the new international airport. It is not building Koh Norea as a single tower but as a whole district, with the bridge, streets and infrastructure it pays for itself.
When you buy in a new district, the first question is not which building it is, but who stands behind the whole district. Here that is a company that has already finished the job once.
Under construction, 30 months from groundbreaking.
OCIC is the company that turned Koh Pich from a sandbank into the most expensive address in the city, and is now doing the same with Koh Norea: the bridge, the streets and the infrastructure come out of their own pocket before a single unit is sold. So here you are not only buying a building, you are buying the fact that it is built by someone who has to finish the district to earn anything himself. Maintenance $1.15 per m² per month, car parking $40.
Petar StankovićLet us talk about Norea Square
Send an enquiry or write to me on WhatsApp. I reply personally, usually the same day, with the available units, the exact price and the payment plan for your budget.
Questions about Norea Square
Is "0 % interest" a developer plan?
No. It is a Canadia Bank loan: 0 % for the first 24 months, then 7 % a year. The developer plan without a bank is the cash option: 10 % at contract, 85 % in 29 installments, 5 % at the end.
When is move-in?
30 months from groundbreaking per developer data. I do not yet have the start date recorded; I am asking for it and will add it when it arrives.
Does Koh Norea flood?
The district is on an island by the river and is raised above the flood level. We still put that question to the developer in writing before reserving, because an answer in the contract is worth more than an answer in conversation.
Which apartment fits your plans?
Tell me your budget and whether you are buying for yourself or to rent out. I come back with two or three apartments, with prices and payment plans. I reply personally, usually the same day.