Urban Living Solutions

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About Urban Living Solutions

Urban Living Solutions (ULS)

Cambodian-Founded Developer - JV with Hong Kong's Goldfame Group

4.5 / 5.0 Riel Property Rating

Urban Living Solutions (ULS) is a Cambodian-founded property developer operating through a joint venture with Hong Kong's Goldfame Group via Urban Hub Cambodia. Founded in 2016, ULS has completed and handed over over 1,000 units across Phnom Penh and Siem Reap, with a further 1,700 units in Urban Village Phase 2 progressing through handover. The developer reports winning multiple international awards including Best Condo Development in Asia at the 2019 PropertyGuru Awards - the first Cambodia-based project to achieve this. Their portfolio spans condominiums, creative hubs, landed housing and mixed-use communities, with a distinctive focus on community-centred design and green living.

1,000+
Units Completed
30+
Awards (Reported)
2 Cities
Phnom Penh + Siem Reap
6+
Major Projects

Overview

Urban Living Solutions Co., Ltd (ULS) is a Cambodian-founded real estate and lifestyle development company established in 2016 by Kimleang Kean. ULS operates through a joint venture with Hong Kong's Goldfame Group - a major Hong Kong investor in Cambodia with decades of presence dating back to the mid-1990s and a garment manufacturing operation employing over 30,000 people across four countries. Together they formed Urban Hub Cambodia, the entity behind the Urban Village and Factory Phnom Penh developments.

The developer's portfolio is notably diverse for its scale. Completed projects include Urban Loft (182 condos and 21 shophouses), Factory Phnom Penh (a 3.4-hectare creative hub that is one of the largest in Southeast Asia), Urban Village Phase 1 (828 condos on Hun Sen Boulevard, sold out), Bakong Village (344 homes near Siem Reap) and Urban Village Phase 2 (two 51-storey towers with 1,700 residential units). Recently completed projects also include Rose Apple Square (2024), a mixed-use community in central Siem Reap featuring condos, strata-titled offices and co-working space.

ULS is distinguished by its community-first development philosophy and international recognition. The developer reports winning over 30 awards including Best Condo Development in Asia (PropertyGuru 2019), Best Co-working Space in Asia (PropertyGuru 2020), and Best Mixed-Use Architecture and Development (International Property Awards Asia Pacific 2021-2022). Construction has been delivered by world-class partners including China Construction (one of the world's largest construction companies), Cole Atelier (UK architecture) and Meinhardt (engineering consultancy).

1,000+ units completed - across condos, creative hubs, landed housing and mixed-use communities, with 1,700 further units in Phase 2 handover
Multiple international awards - developer reports 30+, including Best Condo in Asia (PropertyGuru 2019), first Cambodia project to achieve this
Hong Kong JV backing - Goldfame Group, major HK investor in Cambodia since the mid-1990s
Foreign Ownership Eligible - strata title (hard title) on condominium projects, subject to 70% foreign quota
Two-city presence - active in both Phnom Penh and Siem Reap with distinct project types
Did you know?

ULS's Urban Village and Factory Phnom Penh projects have attracted both local and international buyers purchasing remotely. A Power of Attorney arrangement allows overseas investors to complete purchases, but all terms should be confirmed in writing with independent legal advice. Read our step-by-step remote buying guide.

Rating Breakdown

Delivery Track RecordMultiple completed projects, multi-city, sold-out phases
Urban Loft, Factory PP, UV Phase 1 (sold out), Bakong Village, UV Phase 2 all delivered
4.5/ 5.0
Assessment

ULS has a strong and diversified delivery record. Urban Loft was their first project, introducing condo living to the Cambodian market. Urban Village Phase 1 on Hun Sen Boulevard (828 units) sold out and was completed in Q1 2020. Phase 2, comprising 1,700 units across four towers (three 51-storey plus Sky Prime 60-storey), topped out in January 2023 and handover has been progressing. Bakong Village near Siem Reap delivered 282 of 344 planned homes. The developer's willingness to tackle different product types - condos, creative hubs, landed housing, mixed-use - demonstrates genuine development capability rather than single-product repetition.

1,000+ units completed UV Phase 1 sold out Multiple product types Two-city operations
Build QualityWorld-class consultants, HK standards, multiple awards
China Construction, Cole Atelier (UK), Meinhardt, developer-stated 100% ventilation
4.5/ 5.0
Assessment

ULS has assembled world-class construction and design partners. China Construction (one of the world's largest construction companies) has been involved in delivery, with architectural work by UK firm Cole Atelier and engineering by Meinhardt. The developer has stated that all Urban Village units feature 100% ventilation and natural lighting in both bathrooms and kitchens - a specification they claim is unique in the Cambodia market. The developer reports over 30 international awards to validate build and design quality, including five PropertyGuru Cambodia awards in a single year for architecture, interior design and landscape. The Hong Kong construction standards brought by Goldfame Group underpin the quality commitment.

China Construction partnership Cole Atelier (UK) architecture 30+ awards (reported) 100% ventilation claim
Payment FlexibilityMultiple options, low deposit, up to 70% financing
US$3,000 booking, payoff/instalment/monthly options, interest-free plans
4.0/ 5.0
Assessment

ULS has offered structured payment options across its Urban Village projects. Historically, foreign investors have been able to secure units with a US$3,000 booking deposit, with multiple payment pathways: full payoff with discount, 50% down payment with staged monthly instalments, or 30% down payment with longer-term instalments. Up to 70% financing has been referenced for qualifying buyers. These terms are competitive within the Phnom Penh market. However, payment structures may vary between project phases and current availability should be confirmed directly with the developer.

US$3,000 booking deposit Multiple payment pathways Payoff discount available Up to 70% financing referenced
Rental PerformanceHun Sen Blvd growth corridor, Factory PP ecosystem
Growing corridor, ISPP/AEON Mall proximity, Factory PP tenant demand, 7% GRR referenced
4.0/ 5.0
Assessment

Urban Village benefits from a genuinely differentiated rental demand driver in Factory Phnom Penh - a 3.4-hectare creative hub adjacent to the residential development that generates organic tenant demand from co-working professionals, creatives and businesses operating on-site. The Hun Sen Boulevard corridor is a growth area with proximity to ISPP (International School of Phnom Penh), AEON Mall 3 and the embassy zone, which supports both local and expatriate rental demand. A 7% guaranteed rental return has been referenced for certain units, though specific terms, duration and backing structure should be verified directly. The non-prime location means absolute rents are lower than BKK1 or Tonle Bassac, but percentage yields can be competitive given entry pricing.

Factory PP demand driver Near ISPP and AEON Mall 3 7% GRR referenced Growth corridor location
Design & InnovationCommunity-first, 45% green space, Cambodian-modern fusion
Largest creative hub in SE Asia, Cambodian modernist architecture, award-winning landscape
4.5/ 5.0
Assessment

Design and innovation is arguably ULS's strongest category. The integration of Factory Phnom Penh - a repurposed garment factory complex housing co-working space, art galleries, a Montessori preschool, trampoline park, skateboard park, sports facilities and retail - as a living component of the residential development is genuinely unique in Cambodia and rare in Southeast Asia. Over 45% of the Urban Village site is devoted to green space. The architectural concept draws from Cambodia's modernist movement of the 1960s, blending contemporary high-rise design with Khmer-inspired elements. Five PropertyGuru architecture and design awards in a single year, plus International Property Awards recognition for best mixed-use design, validate this as a market-leading proposition.

Factory PP creative hub 45% green space Cambodian modernist fusion 5 design awards in one year

Urban Living Solutions Projects

See Project

Urban Village Phase 2

Hun Sen Boulevard, Meanchey, Phnom Penh
Completed Foreign Ownership Eligible Best Condo in Asia
1,700 units across 4 towers (3x 51F + Sky Prime 60F) - lofts, 1-3BR (47-90 sqm) - from US$1,600/sqm - strata title - adjacent to Factory Phnom Penh

Urban Village Phase 1

Hun Sen Boulevard, Meanchey, Phnom Penh
Completed 2020 Foreign Ownership Eligible

23 storeys - 828 condos (sold out) - 1-3BR layouts - 45% green space - strata title - community-focused

See Project

Rose Apple Square

Rose Apple Road, Central Siem Reap
Completed 2024 Foreign Ownership Eligible
207 condos - 18 strata-titled offices (first in Siem Reap) - co-working - co-living - retail - central location near Old Town

Bakong Village

Near Siem Reap
282 Completed

344 homes (282 completed, 62 future) - shophouses + villas (types A-D) - masterplanned community - market, green spaces, amenities

Urban Loft

Phnom Penh
Completed

ULS's first project - 182 condos + 21 shophouses - mixed-use - pioneered condo living in Cambodia

Factory Phnom Penh

National Road 2, Meanchey, Phnom Penh
Completed Best Co-working in Asia

3.4-hectare creative hub - co-working, art gallery, Montessori preschool, sports facilities, retail, events - adjacent to Urban Village

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Did you know?

Ownership costs at ULS developments include management fees that fund the community infrastructure and shared amenities. Cambodia's property holding costs are generally lower than comparable Southeast Asian markets, but fees vary by project and should be confirmed in writing. See our ownership costs breakdown.

Investment Suitability

Award-Validated Quality

The developer reports over 30 international awards including Best Condo in Asia and Best Mixed-Use Development - one of the strongest award portfolios of any Cambodia developer.

Hong Kong JV Backing

Goldfame Group brings Hong Kong construction standards, international financing and institutional credibility to every project.

Community Demand Driver

Factory Phnom Penh generates organic tenant demand. The live-work-play ecosystem creates rental demand that standalone condos cannot replicate.

Hard Title Ownership

Strata title (hard title) for foreign buyers on condominium projects, subject to the 70% foreign ownership quota. Verify individual unit eligibility with the developer.

Strengths & Considerations

Strengths
  • Proven multi-project delivery - over 1,000 units across condos, creative hubs, landed housing and mixed-use communities in two cities
  • Best Condo in Asia recognition - PropertyGuru 2019, first Cambodia project to achieve this, plus the developer reports 30+ additional international awards
  • World-class construction partners - China Construction, Cole Atelier (UK), Meinhardt and Hong Kong standards via Goldfame Group
  • Unique ecosystem model - Factory Phnom Penh creative hub creates organic demand and community that no other Cambodia development replicates
  • Green and community focus - 45% green space, developer-stated 100% natural ventilation, Cambodian modernist-inspired architecture
  • Two-city diversification - active projects in both Phnom Penh (growth corridor) and Siem Reap (tourism capital)
Considerations
  • Non-prime location - Hun Sen Boulevard is a growth corridor but not yet an established premium address like BKK1 or Tonle Bassac The area is developing rapidly with AEON Mall 3, ISPP and the new airport corridor driving demand and infrastructure investment
  • Large unit count - 1,700 units in Phase 2 alone creates potential supply concentration Phase 1 sold out, and the Factory PP ecosystem provides demand diversity that single-tower developments lack
  • GRR terms not fully transparent - 7% guaranteed returns have been referenced but specific terms, duration and backing should be verified Request written guarantee terms and verify the guarantee structure and backing entity before purchase
  • Secondary market liquidity - the volume of units and emerging location may impact resale speed compared to prime-district stock Strong award recognition and community demand help differentiate these units in the resale market
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Frequently Asked Questions

Is Urban Living Solutions a reliable developer?
ULS is one of Cambodia's most established and internationally recognised developers. Founded in 2016, the company operates as a joint venture with Hong Kong's Goldfame Group and has completed and handed over over 1,000 units across multiple project types, with a further 1,700 in Phase 2 handover. The developer reports more than 30 international awards including Best Condo Development in Asia (PropertyGuru 2019) - the first Cambodia-based project to achieve this. Construction partners include China Construction (one of the world's largest construction companies). See our due diligence guide for more on evaluating developers.
Can foreigners buy at Urban Village?
Yes. Urban Village condominium projects offer strata title (hard title) ownership for foreign buyers. Units from one floor above ground level are eligible for foreign purchase, subject to the 70% foreign ownership quota per building under Cambodian law. The developer has structured payment options specifically for foreign investors including flexible instalment plans and booking deposits from US$3,000. Verify individual unit eligibility and current payment terms directly.
What is Factory Phnom Penh?
Factory Phnom Penh is a 3.4-hectare creative hub adjacent to Urban Village, developed from a repurposed garment factory complex. It houses co-working space, one of the largest art galleries in Cambodia, a Montessori preschool, trampoline park, skateboard park, sports facilities, restaurants, retail and event spaces. It won Best Co-working Space in Asia (PropertyGuru 2020). For Urban Village residents, Factory PP serves as an integrated live-work-play ecosystem that generates organic tenant demand. Learn more in our best areas guide.
Who is Goldfame Group?
Goldfame Group is a Hong Kong-based conglomerate with decades of investment in Cambodia dating back to the mid-1990s. The group primarily operates in garment manufacturing with over 30,000 employees across four countries. Through Good Ray Development, Goldfame partnered with ULS to form Urban Hub Cambodia, the entity behind Urban Village and Factory Phnom Penh. The group brings Hong Kong construction standards and institutional financing capacity. Visit our developer hub for more rated Cambodia developers.
What rental yields can investors expect?
A 7% guaranteed rental return has been referenced for certain Urban Village units, though specific terms, duration and backing structure should be verified directly with the developer. The Factory Phnom Penh ecosystem provides an organic demand driver that differentiates these units from standalone condominium developments. The Hun Sen Boulevard corridor is a growth area with proximity to ISPP, AEON Mall 3 and the embassy zone. Entry pricing from US$1,600 per square metre supports competitive percentage yields. See our rental yields guide for broader context.
What is Rose Apple Square in Siem Reap?
Rose Apple Square is ULS's mixed-use community development in central Siem Reap. It features 207 condos, 18 strata-titled office units (the first strata-titled offices in Siem Reap), co-working space, co-living accommodation, retail and cultural facilities. Located on Rose Apple Road within walking distance of Old Town and Pub Street, it represents ULS's expansion beyond Phnom Penh into Cambodia's tourism capital. Learn about Siem Reap investment potential in our Siem Reap guide.
How does Riel Property rate developers?
Riel Property assesses developers across five criteria: delivery track record, build quality, payment flexibility, rental performance, and design and innovation. Scores range from 3.0 to 5.0. Every developer listed on Riel Property has been vetted and is one we are confident including in our directory. ULS scores 4.5/5.0, reflecting a strong multi-project delivery record, world-class construction partnerships, over 30 international awards and a genuinely differentiated community development model. See all rated developers on our developer hub.

Investor Resources

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Riel Property is not affiliated with Urban Living Solutions Co., Ltd, Urban Hub Cambodia or Goldfame Group. Information on this page is compiled from publicly available sources including the developer's website, realestate.com.kh, PropertyGuru, Phnom Penh Post, Khmer Times and Cambodianess. All data is provided for informational purposes only and should be verified independently before making investment decisions.

Last updated March 2026. Pricing, payment terms and project timelines may have changed since publication. Seek independent legal and financial advice before purchasing property in Cambodia.