Square Gatsby Review: Megakim's Premium Time Square Tower
Square Gatsby by Megakim: the upper end of the affordable Time Square cluster, pricing, payment plan, amenities, realistic yield and buyer risks 2026.
By Invest Cambodia Editorial · Updated June 28, 2026 · 12 min read
Quick answer: Square Gatsby is the upper end of Megakim World Corp’s affordable Time Square cluster, positioned above the roughly $40,000 to $50,000 of Time Square Ocean View and Square Castle, on a 20% down, roughly 40-month payment plan built by Grade-A contractor Haspo Group. It is premium relative to its siblings, not relative to OCIC’s premium tier near $106,000, so the case rests on whether the extra amenity and finish earn their cost. Verify the quota, contractor, construction stage and net yield before deposit.
Invest Cambodia Editorial reviews projects so foreign buyers can weigh price, developer and risk before any money moves. This is an independent review of Square Gatsby: where it sits in Megakim’s affordable cluster, what the premium positioning actually buys, how the payment plan and contractor stack up, and the diligence an off-plan purchase in this tier still demands.
For wider context read cambodia-property-investment-guide-2026, can-foreigners-buy-property-cambodia, off-plan-property-cambodia-guide, and phnom-penh-rental-yield-guide. The 2026 backdrop is roughly 76,000 to 80,000 Phnom Penh condo units, 3% to 4% annual absorption, an 8.9% banking NPL ratio, and foreign buyer share led by Poland, Russia and France per realestate.com.kh.
What is Square Gatsby and where does it sit in Megakim’s range?
Square Gatsby is an affordable condominium by Megakim World Corp positioned at the upper end of its Time Square cluster, built with Grade-A contractor Haspo Group. It leans on more amenity, finish and lifestyle branding than the cheapest Time Square towers, which makes it premium relative to its siblings but still part of the entry segment, well below OCIC’s premium tier.
The name does a lot of work, and a buyer should read it for what it is. “Gatsby” signals aspiration and lifestyle, a marketing register pitched a step above the plainer Time Square branding, and the building is designed to feel like the best unit in Megakim’s affordable line. That positioning is genuine within its range, but the crucial framing is relative. Square Gatsby is premium next to time-square-ocean-view and square-castle; it is not premium next to a master-planned Koh Pich tower, where OCIC entry begins near $106,000. The developer profile, series map and contractor record are in megakim-world-corp. Treat Square Gatsby as the top of the entry segment, judge it on its own price list and construction stage, and resist letting the upgraded branding imply a different risk class than its cheaper siblings carry.
How does foreign ownership work at Square Gatsby?
Foreigners can own a Square Gatsby unit on the standard Cambodia basis: strata co-ownership above the ground floor, within the 70% foreign quota per building. Cambodian land and ground-floor commercial space stay off-limits, so the path is the strata title rather than freehold land.
The premium positioning can change the buyer mix in a way worth noting. A more aspirational tower may attract a different slice of foreign demand, but the 70% quota still applies and can still fill, and a near-full allocation both limits availability and narrows your future resale pool toward Cambodian buyers. Request the building’s official foreign quota ledger in writing rather than relying on a verbal scarcity claim, which is just as common in premium-branded affordable stock as in plain entry towers. The ownership framework is in can-foreigners-buy-property-cambodia and the strata-title mechanics in foreign-ownership-strata-title-cambodia.
What does Square Gatsby cost and what does the premium buy?
Square Gatsby is positioned above the roughly $40,000 to $50,000 of its Time Square siblings, with no single fixed figure published, so the price list is the only reliable source. The premium is meant to buy better amenity, finish and common areas rather than a move into the city’s premium tier near the $1,800 per sqm average and above.
| Cost line | Indicative range | Buyer action |
|---|---|---|
| Unit price | Above Ocean View and Square Castle | Get the current price list and promotion |
| Legal review | $800 to $2,500 | Use an independent Cambodia lawyer |
| Transfer and stamp duty | Lower through 31 Dec 2026 | Model under the incentive window |
| Furnishing | $5,000 to $15,000 | Budget for rental readiness |
| Management fee | $40 to $80 per month | Confirm the sinking fund and amenity upkeep |
| Vacancy allowance | 1 to 2 months per year | Stress-test net yield |
The honest question on Square Gatsby is whether the premium is in the unit or only in the branding. More amenity carries an ongoing cost: a richer facility package usually means a higher management fee and sinking-fund contribution, which eats into net yield unless it also lifts rent or occupancy. Account for the stamp duty incentive through 31 December 2026 and the capital gains tax deferred to 1 January 2027 in your model, both in cambodia-property-taxes-fees-2026. A buyer who pays the Gatsby premium without checking the management charge can find the better-looking building delivers a worse net return than the plainer Square Castle next door.
How does the Megakim payment plan work on Square Gatsby?
Megakim commonly markets Square Gatsby on 20% down with the balance over roughly 40 months. The length is standard; the decisive detail is whether instalments are tied to verified construction milestones or to calendar dates, because a calendar plan shifts delivery risk onto you regardless of build progress.
| Plan element | Typical structure | What to verify |
|---|---|---|
| Down payment | About 20% | Refund terms if the project stalls |
| Instalment term | Roughly 40 months | Milestone-linked or calendar-based |
| Trigger for payments | Construction stage | Written, evidenced progress |
| Protection | Escrow where available | Named in the sales contract |
| Amenity delivery | On completion | Facilities promised versus built |
A premium-branded tower carries one extra payment-plan risk: the amenities are part of what you are buying, and amenities are exactly what gets value-engineered out when a presale-funded project runs short of cash. If Square Gatsby’s case rests on its pool, gym, lobby and landscaping, then the contract should commit to delivering them, and your instalments should be tied to that delivery, not merely to dates. Insist on milestone-linked releases and escrow, get the promised facilities specified in writing, and read the off-plan protections in off-plan-property-cambodia-guide before you commit.
What rental yield can Square Gatsby realistically deliver?
Better amenity can help a unit let faster and retain tenants, but any 12% to 15% gross yield claim is marketing only with no guarantees, and the higher ticket lowers the gross percentage versus cheaper siblings. Underwrite net yield with realistic comps, one to two months of annual vacancy and verified, amenity-inclusive fees.
The premium-yield argument is plausible but needs proof. A nicer building may command a small rent premium and churn tenants less, which protects the net figure over a five-year hold. Against that, the entry price is higher, so the gross percentage starts lower, and the richer facilities raise the management fee that net yield has to absorb. Model occupancy near 85%, use the actual sinking-fund and management charge for this building rather than a generic figure, and discount the brochure yield heavily. The realistic question is not whether Square Gatsby can out-rent Square Castle in dollars, it may, but whether it does so by enough to beat it on net yield, as phnom-penh-rental-yield-guide explains.
Advantages and disadvantages of Square Gatsby
Its advantages are the best amenity and finish in Megakim’s affordable cluster, lifestyle branding that can aid letting, payment-plan access and the Haspo contractor; its disadvantages are a higher ticket than its siblings, higher amenity-driven running costs, entry-tier completion and liquidity risk, and the risk of paying for branding rather than a better net return.
| Advantages | Disadvantages |
|---|---|
| Top amenity and finish in the cluster | Higher entry price than Ocean View or Castle |
| Lifestyle branding can speed letting | Richer amenities raise management fees |
| 20% down, roughly 40-month payment plan | Presale-reliant financing under 8.9% NPL |
| Grade-A contractor Haspo Group | Amenities can be value-engineered if cash runs short |
| Potential for lower tenant churn | Entry-tier completion and liquidity risk remain |
| Recognisable Megakim affordable brand | Yield claims of 12% to 15% are marketing only |
The pattern is consistent with the rest of Megakim’s range: every advantage has a matching cost. Square Gatsby’s premium can be real and worth paying, but only when the amenity, finish and resulting tenant demand justify both the higher entry price and the higher running costs. Branding alone does not, and a disciplined buyer separates the two before deciding.
Risks, red flags and what to verify
The main risks at Square Gatsby are off-plan non-completion, amenities promised but not delivered, calendar-based payment plans, unevidenced yield and quota marketing, and paying a premium for branding that does not lift the net return above cheaper siblings. Run the checklist and stop if several flags appear together.
- Undelivered amenities: Get the pool, gym, lobby and landscaping specified in the contract, because facilities are first to be cut if cash runs short.
- Calendar-based instalments: Insist on milestone-linked payments and escrow, since a date-driven plan makes you carry delivery risk.
- Premium for branding: Confirm the Gatsby unit beats Square Castle on net yield, not just on lobby photos.
- Presale dependence: A tower funded only by ongoing sales is fragile under the 8.9% banking NPL ratio, so confirm the financing model.
- Deposit pressure: Requests to pay before independent checks are designed to block verification; a credible developer expects you to take time.
Insider tip: When a building sells on lifestyle, inspect the amenities of an older, completed Megakim tower, not the renders, and see how its pool, gym and common areas are actually maintained years on. Neglected facilities in a finished building are the clearest warning that the premium you are paying at Square Gatsby may not survive the first few years of management.
Which buyers does Square Gatsby suit?
Square Gatsby fits entry buyers who want the best-specified affordable unit, value amenity and lifestyle for letting, and accept entry-tier completion and liquidity risk. It is the wrong fit for buyers chasing the absolute lowest ticket, premium capital quality or a short, certain exit.
| Profile | Goal | Fit | Starting point |
|---|---|---|---|
| Best-of-entry buyer | Top affordable unit | Strong | square-castle |
| Lifestyle-letting investor | Amenity-led demand | Moderate | phnom-penh-rental-yield-guide |
| Lowest-ticket buyer | Cheapest unit | Prefer Ocean View | time-square-ocean-view |
| Capital-quality buyer | Brand resilience | Weak, prefer OCIC | megakim-vs-ocic-entry-price |
| Location-first buyer | BKK3 tenant base | Consider | bkk3-phnom-penh |
Scenario A: A buyer who wants the nicest affordable unit pays the Gatsby premium after confirming the amenity package is specified in the contract, ties instalments to milestones, and verifies the foreign quota in writing.
Scenario B: A yield-focused buyer runs Gatsby and Square Castle through the same rent model with each building’s actual management fee, and only chooses Gatsby if its net yield, not its gross, comes out ahead.
Scenario C: A buyer who values the cheapest ticket or the strongest location instead shortlists time-square-11-bkk3 or Ocean View, accepting plainer finish for a lower entry price.
How to run due diligence on a Square Gatsby purchase
Verify the licence and land title with a Cambodia lawyer, confirm the remaining foreign quota in writing, check the Haspo contractor on the project documents, get the promised amenities specified in the contract, model net yield with the building’s real fees, and tie any off-plan instalments to verified construction milestones with escrow where available.
The premium positioning adds one diligence layer on top of standard entry-tier checks: the amenities have to be real, contracted and maintainable, not just rendered. Because Square Gatsby relies on payment plans and presales like the rest of the cluster, the contract and financing model deserve full scrutiny, and the premium over Square Castle deserves justification on net yield. Apply the developer red-flag screen in developer-due-diligence-red-flags-cambodia, follow the transfer steps in due-diligence-process-cambodia-step-by-step, and keep the wider plan in cambodia-property-investment-guide-2026 in view. Confirm the quota ledger, secure milestone-linked instalments and escrow, get the amenity package in writing, inspect an older completed Megakim building, and prove the net yield beats the cheaper siblings before any deposit moves.
MORE Group escrow and payment terms: Square Gatsby Review
Square Gatsby Review SPA terms in 2026 typically require 20 on SPA with 40 month calendar instalments escrow is Buyer negotiated only Square Gatsby under Megakim Haspo typically requires 20 on SPA on a 40 month calendar instalments schedule with escrow listed as Buyer negotiated only
| Project | Developer | Deposit | Schedule | Escrow practice | Verify before wire |
|---|---|---|---|---|---|
| Square Gatsby | Megakim / Haspo | 20% on SPA | 40-month calendar instalments | Buyer-negotiated only | Match payments to site photos |
Our escrow red flag checklist for Square Gatsby Review starts with whether instalments are calendar based or tied to construction milestones Square Gatsby under Megakim Haspo typically asks 20 on SPA with 40 month calendar instalments while escrow is recorded as Buyer negotiated only In Cambodia’s 8 9 NPL environment we treat missing escrow language as a case study risk buyers who wired 20 down on a 40 month Megakim calendar plan without milestone exhibits bore delivery risk in prior cycles Request Match payments to site photos in writing and compare against OCIC 30 milestone templates before any second payment Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
MORE Group rent comps: BKK3
realistic rent underwriting for Square Gatsby Review uses BKK3 comps not island or CBD premiums unless the unit delivers that location Time Square 11 completed at 480 month on 42 sqm implies about 7 1 gross before vacancy in our Q2 2026 archive
| Building / source | Unit | Size | Monthly rent | Indicative gross | Note |
|---|---|---|---|---|---|
| Time Square 11 (completed) | 1BR furnished | 42 sqm | $480 | 7.1% | Young expat segment |
| Time Square 306 (completed) | 1BR semi-furnished | 44 sqm | $520 | 7.0% | Russian Market access |
| Local BKK3 mid-rise | 1BR unfurnished | 40 sqm | $380 | 7.5% | Local tenant mix |
| Time Square cluster avg | 1BR blended | 43 sqm | $450 | 7.2% | Portal archive Q2 2026 |
MORE Group rent comp case study for this page anchors on Time Square 11 completed a 1BR furnished at 42 sqm quoting 480 per month implies about 7 1 gross before vacancy at typical ask prices The spread to Time Square 306 completed at 520 shows furnishing and floor drive a 7 0 to 7 1 gross band We underwrite net returns after 1 to 2 months vacancy 8 to 12 management and sinking fund lines because 12 to 15 brochure yields remain marketing only in 2026 Banking NPL near 8 9 raises completion risk on competing off plan supply that can soften rents 6 to 12 months after handover Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
MORE Group buyer nationality mix: Square Gatsby Review
enquiry mix on Square Gatsby Review shows which nationalities actually buy this ticket size a lead indicator for resale depth Polish leads at 16 1 on this page skewed toward entry tier megakim enquiries q2 2026 Confirm live comps with a Cambodia lawyer before transfer.
| Nationality | Share signal | District / project skew |
|---|---|---|
| Polish | 16.1% | Entry tier Megakim enquiries Q2 2026 |
| Russian | 14.8% | Payment-plan sensitive |
| French | 4.2% | Under-indexed vs BKK1 |
MORE Group buyer nationality methodology tracks enquiry share from realestate com kh and Phnom Penh shortlist requests not census data On this page the leading signal is Polish at 16 1 with skew toward Entry tier Megakim enquiries Q2 2026 Polish 9 0 Russian 9 6 and French 7 4 remain citywide anchors in 2026 but building level mix diverges Megakim entry towers overweight Polish and Russian buyers while BKK1 and Koh Pich overweight French and Chinese enquiries Use the table as a resale liquidity hint when foreign quota nears 70 Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
Insider tip: On Square Gatsby Review, archive three rent comps, the foreign quota letter, and escrow or milestone exhibits in one folder before you wire more than 10% to 20% deposit, because 2026 stamp duty relief binds to registration timing not SPA date alone.
Frequently Asked Questions
Square Gatsby is positioned at the upper end of Megakim's affordable cluster, typically above the roughly $40,000 to $50,000 of Time Square Ocean View and Square Castle. There is no single fixed figure, so confirm the exact unit, floor, net size and current promotion on the official price list before relying on any headline price.
Within Megakim's affordable line, Square Gatsby leans on more amenity, finish and lifestyle branding than the cheapest Time Square towers. It is premium relative to its siblings, not relative to OCIC's premium tier, which starts near $106,000, so judge it as the top of the entry segment rather than a luxury asset.
Yes, on the standard Cambodia basis: strata co-ownership above the ground floor within the 70% foreign quota per building. Land and ground-floor commercial space stay off-limits. Confirm the remaining foreign quota in this specific tower in writing before any deposit.
Megakim commonly markets 20% down with the balance over roughly 40 months. The key is whether instalments are milestone-linked or calendar-based; a calendar plan leaves you carrying delivery risk if the tower stalls under Phnom Penh's 8.9% banking NPL pressure.
It can, but treat 12% to 15% gross yield claims as marketing only with no guarantees. Better amenity may help a unit let faster and retain tenants, but the higher ticket also lowers the gross percentage, so model net yield with real comps, 1 to 2 months vacancy and verified fees.
Only if the amenity and finish translate into faster letting, lower churn or stronger resale. Compare the actual units on each price list, run both through the same rent model, and pay the Gatsby premium when the net figure justifies it, not for the brand name alone.
Frequently Asked Questions
Square Gatsby is positioned at the upper end of Megakim's affordable cluster, typically above the roughly $40,000 to $50,000 of Time Square Ocean View and Square Castle. There is no single fixed figure, so confirm the exact unit, floor, net size and current promotion on the official price list before relying on any headline price.
Within Megakim's affordable line, Square Gatsby leans on more amenity, finish and lifestyle branding than the cheapest Time Square towers. It is premium relative to its siblings, not relative to OCIC's premium tier, which starts near $106,000, so judge it as the top of the entry segment rather than a luxury asset.
Yes, on the standard Cambodia basis: strata co-ownership above the ground floor within the 70% foreign quota per building. Land and ground-floor commercial space stay off-limits. Confirm the remaining foreign quota in this specific tower in writing before any deposit.
Megakim commonly markets 20% down with the balance over roughly 40 months. The key is whether instalments are milestone-linked or calendar-based; a calendar plan leaves you carrying delivery risk if the tower stalls under Phnom Penh's 8.9% banking NPL pressure.
It can, but treat 12% to 15% gross yield claims as marketing only with no guarantees. Better amenity may help a unit let faster and retain tenants, but the higher ticket also lowers the gross percentage, so model net yield with real comps, 1 to 2 months vacancy and verified fees.
Only if the amenity and finish translate into faster letting, lower churn or stronger resale. Compare the actual units on each price list, run both through the same rent model, and pay the Gatsby premium when the net figure justifies it, not for the brand name alone.
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