Cambodia-based affordable condominium developer operating primarily in the Toul Kork district of Phnom Penh. Developer of UK Condo 548 Phnom Penh, with multiple residential towers in the affordable segment. Led by Group CEO Dr. Alexander Evengroen, an AmCham Cambodia member. Despite the "UK" branding, the company is Cambodia-registered with no public evidence of a UK corporate connection identified at the time of writing.
4+
Cambodia Projects
414
Units (UK Condo 548)
From $58K
Entry Price
Toul Kork
Location Focus
Developer Overview
UK Condo & Property Co., Ltd is a Cambodia-registered condominium developer operating primarily in the affordable segment of the Phnom Penh market. The company focuses on the Toul Kork (also written Tuol Kork) district, where it has built multiple residential towers. UK Condo & Property Co, developer of UK Condo 548 Phnom Penh, claims to have delivered over 4,000 units across 10 or more projects, though the full scope of this portfolio has not been independently verified.
The company is led by Dr. Alexander Evengroen, Group CEO, who has previously chaired the AmCham Cambodia Real Estate and Construction Committee. Evengroen has been publicly visible in the Cambodian property industry, speaking at events and contributing to industry publications. The company describes itself as vertically integrated, claiming to control all aspects of development without relying on third-party contractors. This model supports competitive pricing but limits independent quality benchmarks.
Known projects include UK Condo 548 (31 floors, 414 units), UK Plaza (32 floors, 378 units), UK Condo 313, and UK Condo 168 in Meanchey district. The company also took over all shares of the Borey 999 project in 2019, pledging to complete the previously stalled development. All Toul Kork projects are concentrated within the Boeung Kak area. Despite the "UK" branding, no public evidence of a corporate connection to the United Kingdom was identified at the time of writing.
Multiple delivered projects with active rental markets and operational buildings across Toul Kork
Affordable entry prices from around $58,000, accessible to a wide range of investors
Foreign ownership eligible on strata title units one floor above the ground floor (70% foreign quota per building)
Industry-engaged leadership - Group CEO has held leadership roles in AmCham Cambodia real estate committee, providing some public accountability
Affordable segment positioning means basic specifications and compact unit sizes (28-90 sqm)
No branded management partner and limited independent quality verification available
Affordable Segment Advisory. UK Condo & Property Co operates in the budget end of the market. While this supports low entry prices and potentially reasonable gross yields, investors should be aware that build specifications, common area maintenance standards, and long-term capital appreciation potential may differ significantly from mid-range and premium developments. Independent inspection before purchase is recommended. See our developer verification guide.
Did you know?
Affordable condos in Phnom Penh's emerging districts often generate the highest net rental yields because service charges are lower and the tenant pool of young professionals is large. Entry price matters, but running costs determine your actual return. See the full ownership costs breakdown.
Rating Breakdown
Overall: 3.0 / 5.0 - UK Condo & Property Co meets our minimum listing threshold with credit for multiple delivered projects. The affordable segment positioning, limited design differentiation, and absence of branded management keep the rating at the floor. Competitive entry prices offer potential yield opportunities but investors should factor in maintenance risk.
Delivery Track RecordMultiple completed projects with active rental markets
Several operational buildings in Toul Kork district
3.5/ 5.0
Detailed Assessment
UK Condo & Property Co has delivered multiple completed projects in the Toul Kork district. UK Condo 548, UK Plaza, and UK Condo 313 are all operational with active rental listings across platforms including Khmer24, CBRE Cambodia, Airbnb, and Booking.com. This is a stronger delivery track record than many developers at the 3.0 rating level.
The company claims over 4,000 units across 10 or more projects, though independent verification of the full portfolio was not available at the time of writing. The 2019 takeover of the stalled Borey 999 project demonstrates willingness to expand, though it also raises questions about whether the company's growth pace is sustainable.
UK Condo 548 operational UK Plaza operational UK Condo 313 operational Borey 999 takeover (2019) Full portfolio not verified
Build QualityAffordable segment with functional specifications
Budget positioning with CWS waterproofing and standard amenities
3.0/ 5.0
Detailed Assessment
UK Condo & Property Co operates squarely in the affordable segment, with pricing below $1,600 per square metre. The vertically integrated model keeps costs down but means there is no independent contractor or architect brand to benchmark quality against. No branded construction firm or design consultant has been publicly associated with the projects.
A positive signal is the documented use of CWS (Concrete Waterproofing Systems) technology at UK Condo 548 for permanent waterproofing across rooftop, balconies, car ramp, and bathrooms. Unit sizes are compact, ranging from approximately 28 sqm for studios to 90 sqm for two-bedroom units. Investors should inspect units in person before purchasing to assess finishing quality.
Budget segment pricing No branded contractor Compact unit sizes CWS waterproofing used Vertical integration
Payment FlexibilityLow absolute entry price with bank financing referenced
Affordable entry from $58K with bank loan options referenced
3.0/ 5.0
Detailed Assessment
Published payment plan details for UK Condo & Property Co projects are limited. Listings on realestate.com.kh reference "Bank Loans Available" as a feature, and the CEO has mentioned "flexible payment options" in press interviews, but no structured payment schedule with specific deposit percentages, milestone payments, or instalment terms has been publicly documented.
The affordable pricing (from around $58,000) does lower the absolute barrier to entry. Foreign investors should confirm payment structures directly with the developer as Cambodian bank financing for foreign buyers is limited. Request written confirmation of any payment plan before committing funds.
No published payment schedule Limited financing data Bank loans referenced Low absolute entry price
Rental PerformanceActive budget rental market in Toul Kork
$280-600/month rental range with primarily local tenant demand
3.0/ 5.0
Detailed Assessment
UK Condo 548 has an active rental market with listings across multiple platforms. Studios rent from approximately $280-350 per month, one-bedroom units from $350-500, and two-bedroom units from $500-600. Against purchase prices from around $58,000, typical gross yields sit in the 4-6% range. In some cases, 6-8% can be achievable for well-priced, well-furnished smaller units, but results depend on occupancy, furnishing standard and tenant mix.
However, the tenant profile is primarily local Cambodian residents and budget-conscious expats rather than corporate tenants or high-end international renters. Some units are listed on Airbnb and Booking.com for short-term stays. There is no branded property management company handling leasing, so investors would need to arrange their own management or use local agents.
Active rental listings 4-6% typical, up to 6-8% best case Airbnb/Booking presence Budget tenant profile No branded management
Design & InnovationFunctional design with standard rooftop amenities
Consistent template approach with pool, gym and sky bar
3.0/ 5.0
Detailed Assessment
UK Condo & Property Co uses a standardised template approach across its projects. Marketing descriptions for UK Condo 548, UK Plaza, UK Condo 313, and UK Condo 168 use virtually identical copy. This suggests a production-line development model rather than individually designed buildings.
Amenities follow a standard formula across all projects: rooftop swimming pool, gym, sky bar, 24-hour security, and parking. These are adequate but unremarkable. No branded architect, landscape designer, or interior designer has been associated with any project. There are no distinctive design features, sustainability certifications, smart home technology, or innovative architectural elements.
Identical marketing copy No branded architect No sustainability features Standard amenity set Sky bar and rooftop pool
UK Condo & Property Co Projects on Riel Property
UK Condo & Property Co's verified listing on Riel Property. UK Condo 548 is eligible for foreign strata title ownership above the ground floor. As an affordable-segment developer, price-to-quality assessment is recommended before purchase.
Toul Kork is one of Phnom Penh's fastest-growing residential districts, with strong infrastructure development and increasing demand from local professionals and expatriates. Its central position and improving transport links make it a solid rental market. See our best areas investment guide.
Investment Suitability
UK Condo developments suit investors seeking affordable entry to the Phnom Penh market with rental yield potential. The Toul Kork location targets local and budget tenants rather than premium corporate demand.
Yield-Focused Investors
Low entry prices against active rental demand in Toul Kork create typical gross yields of 4-6%, with 6-8% achievable in best-case scenarios. Suited to investors prioritising cash flow over capital growth.
Budget-Conscious Buyers
Entry from approximately $58,000 makes this one of the most accessible strata title condominiums for foreign ownership in Phnom Penh.
Short-Term Rental
Units already appear on Airbnb and Booking.com. The Toul Kork location near TK Avenue mall supports short-stay demand from domestic travellers.
Capital Growth Seekers
Affordable-segment condominiums in Toul Kork face limited capital appreciation potential compared to premium districts. Not recommended as a primary capital growth play.
Payment Terms
Payment plan details for UK Condo 548 are subject to current availability. The information below reflects what has been publicly referenced. Confirm all terms directly with the developer before committing funds.
Entry Price
From approximately $58,000 for studio units. Two-bedroom from around $70,000.
Bank Financing
Referenced as available on listing platforms. Foreign buyer financing is limited - verify directly.
Deposit & Instalments
TBC - no structured payment schedule publicly documented. Confirm directly with the developer.
Strata Title Transfer
Hard title strata ownership for foreign buyers above the ground floor, subject to 70% foreign quota.
Payment terms are subject to current availability and may vary. For full details on typical structures, see our payment plan guide or contact us directly.
Due Diligence Checklist
Key verification steps for investors considering UK Condo 548. The affordable segment requires specific due diligence beyond standard checks.
Physical Inspection
Visit the building in person to assess finishing quality, common area maintenance, lift condition, pool and gym standards.
Strata Title Verification
Confirm individual unit hard titles have been issued. Verify the foreign ownership quota has not been exceeded.
Management & Charges
Request current service charge rates, sinking fund contributions, and management company details.
Occupancy Verification
Ask to see current occupancy rates and rental evidence. Check units owner-occupied vs rented vs vacant.
Resale Market
Check resale listings and prices against original purchase prices. Affordable condos can be difficult to exit.
"UK" Branding Note
No public evidence of a UK corporate connection identified. Do not assume UK regulatory standards apply.
Strengths & Considerations
Strengths
Multiple delivered projects - several completed, operational buildings with active rentals demonstrates execution capability
Accessible entry prices - from approximately $58,000, one of the lowest barriers to foreign strata title ownership in Phnom Penh
Established district location - Toul Kork is a well-established residential area with schools, hospitals, TK Avenue mall
Industry-engaged leadership - Group CEO has held leadership roles including chairing the AmCham Cambodia real estate committee
Vertically integrated model - controlling all aspects of development keeps pricing competitive for the end buyer
Active short-term rental presence - units listed on Airbnb and Booking.com creates additional income strategy options
Considerations
Affordable segment limitations - budget positioning means basic finishing standards, compact units, and potential maintenance challenges
The low entry price is attractive but quality trade-offs should be expected
No branded management partner - unlike premium developments with hotel-brand operators, no independent management brand
Leasing and maintenance standards depend on the developer's own operations
Company name may create assumptions - the "UK" branding could lead investors to assume a British corporate connection
No public evidence of such a connection was identified. The company is Cambodia-registered
Generic design across all projects - identical marketing copy and amenity sets across every building
Limited design innovation or differentiation between projects
Capital appreciation risk - affordable condominiums in non-prime locations face oversupply pressure
Resale values may not keep pace with prime district properties
Toul Kork tenant profile - primarily local Cambodian tenants and budget expats rather than corporate tenants
Rental income ceiling is lower than prime areas
Ready to discuss UK Condo 548 or explore other Toul Kork options?
UK Condo & Property Co has delivered multiple completed condominium projects in Phnom Penh's Toul Kork district, which is a stronger track record than many developers at the 3.0 rating level. However, the company operates in the affordable segment with basic specifications and no independent management brand. The "UK" name does not indicate a British corporate connection. See our developer verification guide for a full checklist.
Can foreigners buy units in UK Condo 548?
Yes. Foreign buyers may purchase strata title units one floor above the ground floor at UK Condo 548. Ground floor and basement levels are excluded from foreign ownership under Cambodian law. A maximum of 70% of units in the building may be foreign-owned. Engage a Cambodian lawyer to verify strata title issuance and the current foreign ownership quota status before proceeding.
What are the rental yields at UK Condo 548?
Rental listings range from approximately $280 to $600 per month depending on unit type and floor level. Against purchase prices from around $58,000, typical gross yields sit in the 4-6% range. In some cases, 6-8% can be achievable for well-priced, well-furnished smaller units. Actual yields depend on occupancy, furnishing standard, management costs and tenant mix. See our Phnom Penh rental yields guide.
Is Toul Kork a good investment location?
Toul Kork is an established residential district popular with middle-class Cambodian families and young professionals. The area has good amenities including TK Avenue mall, schools, and hospitals. It offers lower entry prices than BKK1 or Tonle Bassac but also lower rental rates. Toul Kork suits investors prioritising yield over capital growth. Read our Phnom Penh location guide for a district comparison.
Why does the company name include "UK"?
Despite the "UK" branding, the company is registered in Cambodia and no public evidence of a corporate connection to the United Kingdom was identified at the time of writing. The branding should not be taken as indicating British regulatory oversight, construction standards, or consumer protections. Check our glossary for key Cambodia property terms.
What other projects has UK Condo built?
Known projects include UK Plaza (32 floors, 378 units in Toul Kork), UK Condo 313 (Toul Kork), UK Condo 168 (Meanchey district), and the takeover of Borey 999 in 2019. The company claims over 4,000 units across 10 or more projects. See our developer directory for more profiles.
How does Riel Property rate developers?
We assess developers across five criteria to provide comparative guidance. A listing and rating do not constitute investment advice or a recommendation to invest. Investors should conduct independent due diligence and verify key facts (title, management, service charges and resale liquidity) before committing. See our full developer directory for comparisons.
Speak to our team about UK Condo 548 availability, pricing and payment terms. We provide after-sales support throughout your ownership. No obligation - all terms confirmed in writing.
