TL;DR: MIRO is a residential complex within R&F City Garden Community in Phnom Penh, Cambodia. Studios (38 sqm) start from $50,000–58,000 on a freehold basis and are renting within 7–14 days at $300–350/month, delivering an estimated gross yield of 7–8.4% annually. Partial handover started August 2023; Block B11 units are immediately available (data: April 2026).
What Is MIRO and Why Does It Matter for Property Investors
MIRO consists of two residential towers (25 and 32 storeys, max height 99.9 m) embedded within R&F City — Phnom Penh's largest garden community. The project reports an efficiency rate of approximately 77%, meaning the majority of your purchase price covers liveable area rather than shared corridors.
By 2025, R&F City had delivered around 2,800 units — residential apartments, retail, and villas. MIRO is not a standalone development; it plugs into an existing, functioning community. That matters for rental demand.
Pricing and Floor Plans: What's Confirmed
As of April 2026, the following data is verified:
| Type | Net Area | Price | Monthly Rent |
|---|---|---|---|
| A (Studio) | ~38 sqm | $50,000–58,000 | $300–350 |
| B (1BR) | ~50 sqm | Not disclosed ⚠️ | TBC |
The promotional price for B11 studios in April 2026 stands at $58,000, with marketing materials quoting "from $50,000" as the entry-level figure. This represents one of the lowest freehold entry points currently available in central Phnom Penh.
Note: The price for Type B (50 sqm) has not been published in the official April 2026 brochure. Verify directly with the developer or agent before making a decision.
Yield Potential: Realistic Numbers
Based on confirmed pricing and rental data:
- $50,000 purchase / $350/month rent: ~8.4% gross yield
- $58,000 purchase / $300/month rent: ~6.2% gross yield
- Mid-scenario: ~7–7.5% gross
These are gross figures. Net yield after management fees, vacancy periods, and maintenance costs will be lower — typically 4.5–6% in this market segment. The property management operator, Fulin Property, operates to international hospitality standards, which reduces day-to-day operational risk.
Reported time to lease: 7–14 days from market listing. This is fast by Cambodian standards, though it reflects current market conditions and may vary.
Amenities: What Residents Actually Get
MIRO-exclusive: - 270° infinity pool at approximately 100 m elevation - Skybar and rooftop restaurant - Panoramic fitness centre - Rooftop garden
R&F City shared amenities: - 50×20 m international-standard swimming pool - 2,800 sqm sports club - Indoor golf simulator - Children's playground and retail plaza - Airport shuttle service (stops AEB05/AEB06) - 35,000 sqm sky garden — the largest in Phnom Penh
⚠️ Guangdong Seafood City: the April 2026 brochure listed a projected opening of end-2025. Actual status as of June 2026 is unconfirmed. Verify before relying on this as a selling point.
Views: towers face the Bassak River (southeast) or R&F City gardens (northwest).
Key Risks International Buyers Should Evaluate
No investment case is complete without an honest risk assessment:
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R&F Group's financial difficulties (China, 2021–2023). The parent developer faced significant debt restructuring on the Chinese market. The Cambodian entity is a separate legal structure, but group-level financial pressure remains a reputational and operational variable worth investigating.
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Low-cost segment dynamics. Entry at $50,000 is a genuine competitive advantage — and a signal. Capital appreciation may be slower, and exit liquidity may be thinner than in the premium segment.
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Incomplete pricing data. Type B pricing is not publicly available. Some infrastructure status requires confirmation.
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Country and currency risk. Cambodia operates a dollarised economy and is a frontier-to-emerging market. The regulatory environment for foreign property ownership continues to evolve.
FAQ
Can foreigners own property in MIRO on a freehold basis? Yes. MIRO units are offered as freehold. Cambodian law permits foreign ownership of condominium units above the ground floor, subject to a 70% foreign ownership cap per building. Always confirm the current legal structure with a licensed Cambodian property lawyer before proceeding.
What net yield should I realistically expect? Gross yield runs at 7–8.4% under optimistic assumptions. After management fees, vacancy, and maintenance, net yield in this segment typically lands at 4.5–6%. Your actual figure depends on the final purchase price and your management agreement terms.
When can I take possession? Partial handover started in August 2023. Block B11 studios are available for immediate handover as of April 2026. Block B2 follows a separate schedule — confirm the current timeline directly with the developer.
How does MIRO compare to other Phnom Penh projects at this price point? MIRO's main differentiator is integration into an established, already-occupied community (R&F City, ~2,800 delivered units) combined with premium high-rise amenities — an infinity pool, skybar, international property management — at a sub-$60,000 entry price. That combination is uncommon in this segment.
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