BATTAMBANG’S first large housing development is set open its doors next year and is already half built, its project manager said.
The US$7 million Mahatep City, set on 16,000 square metres of land in Battambang’s Sangkat Svay Por commune, is to contain 125 homes and is backed by BTS Co.
“Our project started a few months ago and will be complete next year. We have already sold 40 percent [of units],” said Sok Bun Dara, project manager at the site.
He added that the three-and-a-half storey complex would be the first of its kind in Battambang.
“This is a new type of project in the area, and it is in a prime location in the business area along Stung Sangke,” he said.
Prices per unit range from $60,000 to $100,000. ANZ Royal bank and ABA have established payment schedules lasting between five and 20 years.
Micro finance institution Hathakasekor, according to Sok Bun Dara, has also purchased apartments in the complex to be used as offices.
The development will not be the last for BTS in Battambang, a city that has seen a wave of recent development including the construction of its first shopping mall, set to open soon.
Sok Bun Dara said that the company plans to build a second residential development one kilometre from the first.
Lao Tip Seiha, director of the construction department at the Ministry of Land Management, Urban Planning and Construction, said yesterday: “We are proud to have a new residential development in Battambang. It can create more jobs for construction workers.”
He said that despite the economic crisis, local investors were developing housing and hotels in the city.