Wang Fu Guo Ji Property Development Co.

Wang Fu Guo Ji has delivered one major project in Cambodia: Le Conde BKK1. Ground was broken in July 2020 during the COVID-19 pandemic, the building topped out in October 2023 and handover to buyers began in March 2025. The original completion target was August 2024, meaning the project was delivered approximately seven months behind schedule. COVID-related construction disruptions across Phnom Penh during 2020-2021 provide context for this delay, but it remains a single-project track record with no prior Cambodia development history to benchmark against.

The developer is now progressing Le Conde 2 BKK1 (60 storeys, 398 units) into pre-sale, which would significantly strengthen the delivery profile if brought to completion.

Build quality indicators for Le Conde BKK1 are strong. Sichuan Huaxi Group, the main contractor, has won multiple Luban Awards - China's most prestigious construction prize equivalent to a national quality benchmark. The project integrates Xiaomi smart home technology across all 1,080 residential units, making it the first smart condominium in Cambodia. Property management is handled by HopeTree Japan, applying Japanese service standards to concierge, housekeeping, laundry and building maintenance.

The project won three CREA 2023 awards and a PropertyGuru 2020 award for interior design. The four penthouses on floors 42-43 feature Fendi Casa and Bentley Home furnishings. All standard units are fully furnished with imported fittings and appliances. Over 10,000 square metres of amenity space spans five levels including infinity pool, sky bar, gym, jogging track, kids playground and sky garden.

Le Conde BKK1 offers three structured payment options with a low US$3,000 booking fee. Full payoff buyers receive an 8% discount (90% deposit within seven days, 10% on completion). Standard instalment requires 30% deposit with 60% paid monthly through to completion plus 10% on handover. The most flexible option spreads 60% over 48 months interest-free, which is above-average flexibility for the Cambodia market and particularly attractive for overseas investors managing cash flow.

Transfer tax on completion is approximately 4% of property value plus US$1,500 to US$2,500 in legal fees. Le Conde 2 pre-sale terms are expected to offer similar flexibility with early-phase pricing advantages. Investors should verify current payment structures and available discounts directly.

Le Conde BKK1 benefits from its prime BKK1 location - Phnom Penh's most established expatriate and diplomatic district with strong rental demand from professionals, embassy staff and international organisations. BKK1 condominiums typically achieve 5-7% gross annual rental yields, with the UN Cambodia office within walking distance of the project.

The developer has offered a guaranteed rental return of 8% per annum for three years (24% total), which is attractive on paper but investors should approach developer-backed guarantees with due caution. The sustainability of returns after the guarantee period depends on market conditions, occupancy rates and property management quality. HopeTree Japan's involvement in rental management is a positive signal. The high unit count (1,080 residential units in a single tower) means supply concentration could affect yields if occupancy takes time to build post-handover.

Le Conde BKK1 stands out as a genuine innovator in the Phnom Penh condominium market. The strategic partnership with Xiaomi to deliver Cambodia's first smart home condominium was a market-defining move - all units feature intelligent systems controlling lighting, temperature, security and appliances via app or voice. The architectural design draws inspiration from Cambodia's most celebrated architect, Vann Molyvann, blending contemporary luxury with Southeast Asian landscape forms across its distinctive terraced facade.

The amenity programme spans over 10,000 square metres across five dedicated levels: BKK Avenue retail mall and reading lounge at ground floor, infinity pool and 240-metre jogging track on the 6th floor, 800 square metre children's playground on the 15th floor, 1,000 square metre sky garden and conference rooms on the 32nd floor, and a sky bar at the rooftop. The four penthouse units on floors 42-43 are furnished by Fendi Casa and Bentley Home - a luxury tier rarely seen in the Cambodia market. The project has been marketed with H.R.H. Princess Norodom Soriya as Royal Brand Ambassador.