Wangfu International (Le Condé BKK1)
Completed and occupied — a rare de-risking fact. Le Condé BKK1 is move-in ready in BKK1 with Japanese management. Chinese developer + Sichuan Huaxi construction. Capped by single-tower track record.
Chinese developer behind Le Condé BKK1 — a completed 43-floor, 1,080-unit tower in BKK1 with Cambodia's first Xiaomi smart home and Japanese management by Hopetree Japan. A rare completed asset in Phnom Penh's off-plan-heavy market.
Both sides, plainly
We name the downside as clearly as the upside.
- Completed and occupied: the single most de-risking fact for any Phnom Penh condo purchase. Units can be inspected in person and rented out immediately — no multi-year construction risk.
- Japanese property management (Hopetree Japan, 25+ years, 20+ projects globally) — a genuine differentiator for maintenance quality and tenant sourcing in a market where post-handover management is the most common complaint.
- Cambodia's first Xiaomi smart home integration: furnished units with connected devices — a tangible differentiator for the rental market and tech-aware buyers.
- BKK1 location (Street 352) — the most liquid residential district for foreign buyers, with embassies, international schools, Chip Mong Noro Mall, and AEON Mall within walking distance.
- Awarded: PropertyGuru Asia Property Awards 2020 — Best Serviced Apartment Interior Design, high commendations for architecture and overall development.
- Extensive amenities: ~10,000m² of facilities across multiple floors — rooftop pool, sky bar, fitness centre, co-working, children's play area, gardens.
- Freehold strata-title in USD — the standard foreign-ownership structure for Phnom Penh condos, with no additional restrictions beyond the standard 70% building cap.
- BKK Avenue retail on lower floors — on-site dining, shopping, and services reduce the "dead building" risk of a purely residential tower outside the retail core.
- Single-project track record in Cambodia: Wangfu has delivered one tower. The Le Condé brand is now expanding with Le Condé 2 (60 storeys, off-plan), testing the company's capacity for simultaneous delivery.
- Chinese developer, Sichuan Huaxi Group contractor — governance and construction quality are harder for an outside buyer to independently verify than for listed or homegrown developers with longer local track records.
- BKK1 premium pricing: entry at ~$130k for a studio commands the top end of Phnom Penh's condo market. Resale liquidity depends on sustained foreign demand for the BKK1 address premium.
- The 8% GRR scheme is developer-contract-guaranteed, not bank-guaranteed — collectability depends on Wangfu's ongoing financial health through the guarantee period.
The full dossier
Le Condé BKK1 is one of the few large-scale condominium projects in Phnom Penh
that is already built and occupied — a distinction that matters more in this
market than any brochure statistic. In a city where most condo sales happen on
plan and handover delays are the norm, a 43-floor, 1,080-unit tower that can be
walked through, inspected, and rented immediately is structurally different from
the pre-sale alternatives. This profile covers the building, the developer behind
it, and what a buyer should actually weigh. Citations are marked [S-NNN]; the
source list is at the end.
Who built it
Wang Fu Guo Ji Property Development Co., Ltd (Wangfu International) is a Chinese development group that entered Cambodia’s property market in the mid-2010s [S-101]. It is not a household name like local conglomerates OCIC or Chip Mong, and its track record in Cambodia is essentially one project — Le Condé BKK1. That single project is, however, delivered and occupied, which is more than can be said for many larger developers’ current pipelines. Construction was carried out by Sichuan Huaxi Group, a Chinese state-linked contractor [S-102].
The project is managed by Hopetree Japan, a Japanese property management firm with over 25 years of experience and a portfolio of more than 20 projects across Asia [S-101]. For a buyer, this management structure is arguably as important as the building itself: Japanese PM standards for maintenance, tenant sourcing, and common-area upkeep are measurably higher than the local average — and are the single most common source of post-purchase regret in Phnom Penh condos.
The building
Le Condé BKK1 rises 43 storeys (145 metres) on Street 352 in the heart of BKK1, Phnom Penh’s most prestigious central district. Key parameters:
| Parameter | Value |
|---|---|
| Floors | 43 (145m) |
| Total units | 1,080 (~800 sold as of mid-2026) |
| Unit types | Studio (37–41m²), 1BR (42–48m²), 2BR (54–68m²), 3BR (125m²), 4 penthouses |
| Entry price | ~$130,000 (studio, indicative) |
| Status | Completed, occupied since 2025 |
| Management | Hopetree Japan |
| Ownership | Freehold strata-title (foreigners), USD |
| Smart home | Xiaomi — first in Cambodia; units come furnished |
| Awards | PropertyGuru Asia Property Awards 2020 — Best Serviced Apartment Interior Design |
The project includes about 10,000m² of amenities across several dedicated floors: a rooftop infinity pool and sky bar, fitness centre, co-working lounge, children’s play area, and landscaped gardens [S-101]. The lower floors house BKK Avenue, a retail centre with dining, shopping, and services that gives the building a live-work-play dynamic rather than being a purely residential tower.
Units are delivered fully furnished with Xiaomi smart home integration — connected lighting, climate control, and energy management — making the building Cambodia’s first IoT-enabled residential tower [S-102].
Location
BKK1 is Phnom Penh’s most liquid residential market for foreign buyers. At about 1.4km², it concentrates embassies, international schools, bank headquarters, and the city’s highest concentration of serviced apartments and condominiums. Le Condé sits in the middle of this district on Street 352:
- Chip Mong Noro Mall — walking distance
- AEON Mall Phnom Penh — ~5 minutes by tuk-tuk
- International schools — British International School, Kent Ridge (nearby)
- Medical — Vita Longa clinic, multiple international clinics
- Markets — Thai Huot supermarket, Phsar Boeung Keng Kang market
- Business — ABA Bank HQ, embassies, co-working spaces
The BKK1 location premium is real and has persisted through market cycles. It is the most reliable district for rental demand from expatriates, NGO staff, and diplomatic personnel.
The bottom line
Le Condé BKK1 occupies a genuinely unusual position in Phnom Penh’s condo market: a large-scale tower that is complete, occupied, and professionally managed by an operator with a verifiable international track record. The premium for that certainty is built into the price (~$130k entry), and the developer’s single-project track record means the Le Condé 2 off-plan pipeline is the next test of execution capability. For a buyer who values a completed building in a liquid district with Japanese property management, this is one of the most straightforward propositions in the market. The score reflects that delivery certainty, trimmed for the developer’s limited local history and the off-plan exposure of its next phase.
Sources
- [S-101] NovAsia — Le Condé BKK1 project page — completed status, 43 floors, 1,080 units, Hopetree Japan management, Xiaomi smart home, entry prices, amenities, awards.
- [S-102] ERA Cambodia — Why Le Condé BKK1 Is the Best Condo to Buy This Year — developer background, Sichuan Huaxi Group, GRR details, BKK1 location analysis, smart home features.
- [S-103] realestate.com.kh — Le Condé BKK1 listing — unit types, floor plans, pricing, availability.
Track record
What was promised, and what was delivered.
Related research
All research →Profile by Research Cambodia · Added 2026 . Developer assessments are opinion based on available information at the review date, not statements of fact or financial advice.
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