NovLe Condé BKK1 — a completed serviced condo in BKK1, Phnom Penh
This page uses developer materials. The project is built and completed.
Le Condé BKK1 is a completed premium serviced condominium in the very centre of Phnom Penh, in the prestigious BKK1 (Boeung Keng Kang 1) district. It is a 43-floor tower of 1,080 units by developer Wangfu International; the building is complete and has been occupied since 2025. It is managed by the Japanese company Hopetree Japan, and the project was Cambodia's first with Xiaomi smart home integration. The key difference from most offers on the market is that the property is already delivered: there is no construction or multi-year waiting risk, a unit can be inspected in person and rented out immediately. It suits buyers who value a completed home in a dollar-denominated asset, a recognised BKK1 address, and real resale and rental liquidity.
Note: Le Condé BKK1 (phase 1) is a completed tower. It should not be confused with Le Condé 2 — a separate new project by the same developer on the corner of Streets 63 and 352, sold at the construction (off-plan) stage.
Key parameters
| Parameter | Value |
|---|---|
| Type | Serviced condominium, mixed-use (residences + BKK Avenue retail) |
| District | BKK1 (Boeung Keng Kang 1), Khan Chamkarmon — Phnom Penh CBD |
| Status | Completed, occupied (handover since 2025) |
| Floors / units | 43 floors, 1,080 units (800+ sold) |
| Areas | studios 37–41 m², 1-bedroom 42–48 m², 2-bedroom 54–68 m², 3-bedroom 125 m²; + 4 penthouses |
| Entry price | from ~$130,000 (studio, indicative incl. resale) |
| Management | Hopetree Japan (Japanese PM, 25+ years) |
| Feature | Cambodia's first Xiaomi smart home; furnished units |
| Ownership | freehold (strata-title, hard title) for a foreigner, transactions in USD |
| Developer | Wang Fu Guo Ji Property Development Co., Ltd (Wangfu International) |
About the property
Le Condé BKK1 was built by Wang Fu Guo Ji Property Development Co., Ltd (Wangfu International) — a Chinese development group specialising in premium housing in Cambodia; construction was carried out by Sichuan Huaxi Group. It is a 43-floor tower of 1,080 units, and unlike most projects on the market it is already built and occupied. It is managed by the Japanese company Hopetree Japan, with over 25 years of experience and a portfolio of more than 20 projects worldwide. Le Condé was Cambodia's first project with Xiaomi smart home integration — units are delivered furnished, with connected devices. A dedicated retail centre, BKK Avenue, operates on the lower floors. The project was recognised at the PropertyGuru Asia Property Awards 2020: a win for best serviced apartment interior design and high commendations for architecture and development.
Location — BKK1
BKK1 (Boeung Keng Kang 1) is historically Phnom Penh's most prestigious central district and the most liquid condo market for foreign buyers. It is a compact business and diplomatic core of about 1.4 km², concentrating embassies, international schools, offices, banks, cafés and restaurants. Le Condé sits in the heart of this district, on Street 352.
- Diplomacy & business: BKK1 hosts dozens of embassies and NGOs, bank headquarters (including ABA) and offices of international companies.
- Shopping & leisure: the Noromall boutique mall, AEON Mall, NagaWorld and Diamond Island are within the district and its immediate surroundings.
- Education: international schools and the Royal University of Law and Economics are nearby.
- Landmarks: the Independence Monument and the Royal Palace are within walking and short distance.
Distances and surroundings are per developer data and are indicative.
The complex's rooftop pool — developer materials.
The complex's amenities — developer materials.
Complex amenities
Le Condé offers one of the most extensive amenity sets in BKK1 — around 10,000 m² of facilities across several dedicated floors:
- On the roof: an infinity pool and sky bar with panoramic city views.
- Sky garden: a landscaped garden of around 1,000 m² with lounges and co-working.
- Sport: a 240 m sky jogging track, a fitness centre and an indoor pool.
- For families: a kids' play area of around 800 m².
- Other: a boutique reading space and the BKK Avenue retail centre on the lower floors.
Layouts and areas
The tower offers formats from studios to three-bedroom units, plus four penthouses on the upper floors. The areas below are per developer data.
| Type | Bedrooms | Area |
|---|---|---|
| Studio | — | 37–41 m² |
| 1-bedroom | 1 | 42–48 m² |
| 2-bedroom | 2 | 54–68 m² |
| 3-bedroom | 3 | 125 m² |
| Penthouse | — | floors 42–43 (Le Condé The Royal), 4 units |
Areas and unit breakdown are per developer data; the final specification of a particular unit is fixed in the contract.
Prices and terms
Indicative prices (per broker listings and developer materials). As the project is completed and actively resold, resale prices may differ from direct developer prices. This is not an offer — confirm the current price and availability of a specific unit on request.
| Parameter | Value |
|---|---|
| Entry price (studio) | from ~$130,000 (incl. resale; from ~$148,000 at the developer) |
| Price per m² | ~$2,100–2,500 (resale) / ~$2,500–3,400 (developer) — indicative |
| Maintenance | ~$1.50 per m² per month |
| Parking | ~$45 per month (space rental) |
| Transfer tax | ~4% of value |
This calculation is for information only. Prices are indicative, sourced from developer materials and broker listings; current terms and unit availability are fixed in the contract.
Guaranteed rental return (GRR)
By broker data, for phase 1 the developer offered a Guaranteed Rental Return programme of 24% over 3 years, equivalent to roughly 8% per year. As the building is already completed, the availability and terms of the GRR for a specific unit must be checked separately: the programme may have been fully or partly exhausted, and it may not apply to resale lots. The specific terms — payout amounts, term, fees and exit procedure — are defined by the contract with the developer.
The GRR figures are per broker data and relate to phase 1. This is not a guarantee of income from NovAsia and not an offer — the programme terms are fixed by the developer's contract and, on a completed property, are confirmed individually.
Yield and risks
BKK1 is Phnom Penh's most established premium district, with strong and consistent rental demand from diplomats, corporate tenants and affluent expats. The market benchmark for gross yield on comparable properties is around 5–7% per year (a market benchmark, not a guarantee; net yield is lower after management, maintenance and vacancy costs). Le Condé's main advantage is that it is a completed property: no construction or waiting risk, Japanese Hopetree management and a real occupancy history, with a unit that can be inspected and rented out straight away. Factors to weigh: the large scale of a single tower (1,080 units) creates internal competition for tenants and on resale; the GRR on a completed property may be exhausted or unavailable for resale lots — this needs to be checked separately.
Address
Project: Street 352, Boeung Keng Kang 1 (BKK1), Khan Chamkarmon, Phnom Penh, Cambodia.
Get current prices and available units for Le Condé BKK1. Send the bot your budget and unit type — I'll send a selection of available lots (including resale) with a calculation and a check of the GRR terms.
Get a calculation on Telegramor open the calculator →Frequently asked questions
How much does a unit in Le Condé BKK1 cost?
As the project is completed and resale is active, studios from ~$130,000 (from ~$148,000 at the developer); the price per m² is roughly $2,100–3,400 depending on whether it is a resale or a direct purchase. This is indicative, not an offer; confirm the exact price and availability of a specific unit on request.
Is Le Condé BKK1 already built?
Yes. It is a completed 43-floor tower of 1,080 units, occupied since 2025. There is no construction risk — a unit can be inspected and rented out immediately. Do not confuse it with Le Condé 2 — a separate new tower by the same developer sold at the construction stage.
Who is the developer and who manages the building?
The developer is Wangfu International (Wang Fu Guo Ji Property Development Co., Ltd), with construction by Sichuan Huaxi Group. It is managed by the Japanese company Hopetree Japan. Le Condé was Cambodia's first project with Xiaomi smart home.
Can a foreigner buy a unit here?
Yes, directly under freehold / strata-title (hard title), for a unit above the ground floor and within the building's foreign quota. Transactions are in US dollars. Read more in the article on strata-title.