Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Condo spree drives merger

Condo spree drives merger

Condo spree drives merger

With the increase in condominium construction in the Kingdom, Cambodian real estate company CPL merged with Singapore-based Huttons Real Estate Group in order to cash in on prospective condo sales.

The partnership was signed on September 2, and Cheng Kheng, chairman for the merged company Huttons CPL, said he was hopeful the firm will be a leading seller of condos and apartments.

“Huttons is the number-one seller of condominiums in Singapore, so when they come here we want it to be the same,” Kheng said.

“We are a local seller and [Huttons] is a foreigner so we help them actually get people to sell to.”

Sear Chailin, CEO of realty firm Chailin Sear, said that high-rise opportunities are not the primary reason that foreign real estate companies and developers are investing in Cambodia.

“They come for trading, building malls, housing development, and general building for the public, not just targeting the local people.”

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all