Elysee, a huge high-end development mimicking buildings & boulevards of Paris

In downtown Phnom Penh, Elysee, a huge high-end development mimicking the buildings and boulevards of Paris embodies a move to cash in on the new frontier for luxury which was initially launched in 2015 and is now nearing completion.

Thierry Tea, Vice-President, Overseas Cambodian Investment Cooperatio said “Phnom Penh today is growing. The economy has been growing because Cambodia is basically catching up with Thailand, with Bangkok, with Ho Chi Minh. And the population of Cambodia is very young, so today you have a young workforce who are more educated, who are very fully digitalised, and who are starting to enjoy more lifestyle, western lifestyle “The young population, they like the French products, they like French architecture. So the inspiration comes from the historical culture of Cambodia.

A replica of the Arc de Triomphe towers over a branch of the Mekong River, flanked by shops and apartments built in the style of the French capital's signature. Overseas Cambodian Investment Cooperation OCIC invested $400 million in Elysee and prices units run up to $1,300 a square metre in a country. According to OCIC Vice-President, more than 80 percent of the 229 units have been sold.