Groundwork has been completed on over half of the buildings in the Olympia City complex. The next phase will see construction of the high-rise towers including Olympia Tower, which combines condominiums, a hotel and office units.

OCIC is also considering revising the blueprints for an adjacent office tower and trimming up to seven floors off its original 45-storey design.

The towers are due to come online amid a growing oversupply of residential and office space in the capital.

According to Ann Sothida, director of CBRE Cambodia, the occupancy rate of apartments and condominium units is currently about 80 percent, but can be expected to fall as several large-scale projects come online in short succession.

“Occupancy rates will drop as the market must absorb an additional 13,000 units in 2018,” she said, adding that office space is also expected to grow significantly this year and dilute demand.http://www.phnompenhpost.com/post-property/olympia-city-project-poised-shed-few-storeys