NovOdom Tower — Grade A offices on Norodom Boulevard, Phnom Penh
This page uses developer renders — the project is under construction and the images are illustrative.
Odom Tower is a Grade A mixed-use complex on Norodom Boulevard, Phnom Penh's main business artery. Developer marketing materials state that selected offices may participate in a GRR programme of 8% net per year for 5 years and a buy-back option at 110% of the purchase price in year 5. This is the developer's statement, not a NovAsia forecast or an independently secured income guarantee. Before booking, check the selected unit, calculation base, term, payment currency and timetable, legal guarantor, deductions, early-termination rules and buy-back mechanics in the SPA and programme schedule. The offices are built to a Singapore standard, and the complex includes a 5-star hotel managed by IHG and preliminary LEED Gold certification.
Gallery
Photographs from the project’s materials.
Key parameters
| Parameter | Value |
|---|---|
| Type | Grade A offices (Singapore standard) |
| Location | Norodom Boulevard, Phnom Penh |
| Entry price | from $226,686 · developer sheet 22 Jun 2026, not an offer |
| GRR (rental return) | 8% net per year × 5 years |
| GBB (buy-back) | 110% in year 5 |
| Hotel management | IHG Hotels & Resorts |
| Certification | LEED Gold (preliminary), ESG |
| Developer | Urban Living Solutions (since 2016) |
What the complex includes
Odom Tower is more than offices — it's a mixed-use environment:
- Grade A office space to a Singapore standard.
- A 5-floor shopping centre.
- An exclusive residential building of 138 apartments.
- A private club.
- A 5-star hotel managed by IHG Hotels & Resorts.
- Preliminary LEED Gold certification and ESG compliance.
The developer positions the Norodom Boulevard location as a future equivalent of Orchard Road in Singapore and Sukhumvit Road in Bangkok.
Nearby
Points of reference near the complex on Norodom Boulevard (BKK1), per open-map data (OpenStreetMap):
Nearby places are reference points from open maps, without travel times; exact distances and current status are confirmed on the ground. See the project on the projects map.
Grade A office — developer render.
The complex's spaces and architecture — developer renders.
Yield: an honest breakdown
The developer programme has two parts — the guaranteed rental return (GRR) and the guaranteed buy-back (GBB). It's important to understand how the final figure is built up, and not to confuse "total return" with "net profit".
| Component | Value |
|---|---|
| GRR — rental return | 8% net per year × 5 years = 40% · developer programme, per contract |
| GBB — buy-back | 110% (return of principal + 10%) |
| Total return over 5 years | 150% of the invested sum |
| Net profit above the principal | around 50% |
150% is the total return (principal + rent + buy-back premium), not net profit. Net above the invested sum works out at around 50%. We deliberately show both figures to keep the calculation transparent.
Worked example — unit OT07-06
The figures below are an arithmetic example from the developer's sheet for OT07-06, not a forecast: 68 m² net, stated price $250,953, $5,000 booking, 20% on the SPA, 50% at 2% per month over 25 months and 30% on handover. The same sheet applies an 8% GRR and 110% buy-back to calculate $376,429 of total return and $125,476 above the original price. Those sums depend on full performance of the signed programme; costs, taxes, payment delays, early exit and the obligor's ability to pay may change the outcome. Confirm every figure in the SPA and schedules for OT07-06 or the unit selected.
| Parameter | Value |
|---|---|
| Area | 68 m² net |
| Price | $250,953 |
| Booking | $5,000 |
| SPA 20% (down payment) | $50,191 |
| Installments 50% (2%/mo × 25 mo) | $5,019/mo |
| Handover 30% | $75,286 |
| GRR per year (8%) | $20,076 |
| GRR over 5 years | $100,381 |
| Buy-back 110% (year 5) | $276,048 |
| Total return over 5 years | $376,429 (150%) |
| Net profit | $125,476 (50%) |
GRR accrues from the handover date and is paid on a delay every 3 months. During the GRR period, the developer bears the costs of management, the reserve fund, insurance and utilities.
How the payments and programme work
An indicative sequence under the developer's scheme: first paying for the unit in installments, then the contractual income and buy-back programme (shares and amounts per the OT07-06 example):
- Booking$5,000 to reserve the unit
- SPA 20%down payment (example: $50,191)
- Installments 50%2%/mo × 25 months
- Handover 30%on completion (2027); strata title in the buyer's name
- GRR — income8% net/year, paid every 3 months, 5 years — per developer contract
- Buy-back 110%in year 5, optional — per contract; or sell yourself
Stages and shares are per the developer sheet for OT07-06; the exact schedule and amounts for a specific unit are fixed in the SPA. Developer materials indicate that the GRR and buy-back programme is offered only for selected offices. Before paying, obtain dated written confirmation that the chosen unit participates and an SPA schedule stating the percentage, term, guarantor, payment timetable, deductions, termination rules and buy-back conditions. NovAsia is not a party to the programme and does not guarantee performance.
The buyer's other costs
- Stamp duty 4%: around $10,038 (on the OT07-06 example; reliefs apply — to be confirmed).
- Legal fee and transfer of rights: around $2,000.
- Annual property tax 0.1%: around $251/year.
- After the GRR period — management and reserve fund: $3 per m² net per month; utilities at the tariff rate.
This calculation is for information only; the stamp duty and tax are indicative. Availability of GRR/GBB for a specific office changes and should be evidenced by a dated developer availability list. A 'first-come' statement does not by itself prove scarcity and should not be used to pressure a buyer into paying quickly. Participation and programme terms become binding only when included in the signed contract and its schedule.
The developer — Urban Living Solutions
Urban Living Solutions (ULS) is a Cambodian company founded in 2016 in Phnom Penh. Delivered projects: Urban Loft (Phnom Penh), The Factory — the city's largest IT and creative hub, Urban Village Phase 1 (Phnom Penh), Bakong Village (Siem Reap), Rose Apple Square (Siem Reap), Uchi Residences (Phnom Penh).
Get a yield calculation for Odom Tower. Contact us — I'll send the available offices with the GRR/GBB programme and a full calculation for your budget.
Get a calculation on TelegramOpen the calculatorFrequently asked questions
What is the yield on Odom Tower?
Developer materials state that selected offices may receive an 8% net GRR for 5 years and a 110% buy-back option in year 5. Adding those figures produces a marketing calculation of 150% total return, including the original purchase price; about 50% is the calculated amount above it before risks and costs outside the programme. This is not a NovAsia forecast or income guarantee. The percentage, term, net basis, guarantor, timetable, deductions and buy-back conditions must be written into the selected unit's contract.
How much does an office cost?
Prices from $226,686. An example from the developer's sheet: OT07-06, 68 m² net — $250,953.
What is the 110% buy-back?
Developer marketing materials state a buy-back option in year 5 at 110% of the purchase price. It should be described as an unconditional obligation only after the contract has been reviewed for the liable legal entity, performance deadline, unit-condition requirements, notices, deductions, default remedies and early-exit rules. NovAsia does not guarantee the buy-back. For OT07-06 that's $276,048. At the end of 5 years you can also sell the property yourself.
Is 150% the net profit?
No. 150% is the total return over 5 years (rent + buy-back of the principal with a premium). Net profit above the invested sum is around 50%. More on how to calculate yield is in the article about investing in Cambodian real estate.
Valeria Lezhenina
Head of client support and Cambodia property consultant at NovAsia. She'll clarify your goal and budget, put together a shortlist of available units, calculate a payment plan and check the terms of a specific unit — before the deal, without passing your contact to third parties.
Ask about Odom Tower →We work with any project in Cambodia
This catalogue is a starting point, not a limit. Our on-the-ground partners can support a deal on any project on the market — including ones not published here. Send a name or a link and we will check the sources, the right and the terms, and compare it with alternatives.
What to check before booking
A short checklist of questions about a specific office before you place a booking:
- The difference between "150% total return over 5 years" and "~50% net profit above the invested sum" — these are different figures; make sure you're counting the net one.
- What sum the 8% net GRR is calculated on, over what term and with what payment frequency.
- The terms of the 110% buy-back in year 5: how it's fixed, what happens on an early exit, and what backs the guarantee.
- How many units the programme applies to and whether it's available for the office you've chosen.
- The full list of costs above the price: stamp duty ~4%, management, sinking fund.
What remains unverified
Honestly, on the limits of our data for this project:
- the figures of GRR 8% net × 5 years and the 110% buy-back are the developer's terms, not a market guarantee and not a promise by NovAsia; they apply only under the contract;
- "150%" is the total return (rent + buy-back of the principal with a premium), not net profit; net above the invested sum is around 50% (~10%/year);
- the financial backing of the GRR and buy-back guarantees is not publicly disclosed and is to be confirmed with the developer;
- the property is off-plan (completion 2027) — there is construction and timeline risk; LEED Gold is stated as preliminary;
- the availability of units with GRR is limited and changes quickly — it requires confirmation before the deal.
Document availability
What can actually be obtained and checked for the project (on request — through our team and the developer):
| Document | Status |
|---|---|
| Developer price list (per unit) | available, figures cross-checked against the sheet |
| Brochure and specification | available, used on this page |
| GRR / buy-back terms (SPA annex) | on request, before signing |
| SPA contract and installment schedule | on request, before signing |
| Title / strata (hard title) | issued after completion (off-plan) |
| LEED / IHG certification | per developer data; LEED is preliminary |
A NovAsia check is an editorial cross-check against sources, not a legal opinion on the property. The procedure is described on the "How we check projects" page.
Spotted an inaccuracy in the project data? Write to info@novasia.estate — we'll check it against the source and correct it. How we handle corrections is in the methodology.