Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Provinces show promise for local investors to develop housing projects

Provinces show promise for local investors to develop housing projects

Content image - Phnom Penh Post
Pursat province’s icon of a water vessel at a roundabout. Moeun Nhean

Provinces show promise for local investors to develop housing projects

Domestic investors have expressed optimism for projects being built in Cambodia’s provinces, which have a high demand for suitable housing.

Phou Puy, head of the Federation of Cambodian Rice Millers Associations, which has invested more than $8 million in a residential development in the town of Pursat, told Post Property that out of the 1,000 apartments earmarked to be built as part of phase one, more than 200 apartments have already been completed.

Phase one of the project sits on 27 hectares of land and includes two markets, a vegetable market and a mini mall.

“Pursat is a small town yet well-organised, therefore, I decided to invest in the city in order to meet the resident’s demand,” he said, adding, “Pursat has only one market which makes it a small town, unlike Battambang city which has up to seven markets, so I decided to invest in two markets.”

He continued, “Battambang city seems bigger than Pursat and yet Pursat’s economy is good. However, we do not expect to sell out in one or two years, it needs more time.”

Another investor, who has built housing in the north of Cheik Village in Pursat, said that construction of housing in the area was increasing year-on-year.

Ear Veng Mong, CEO of Borey Rom Chek in Battambang city, has invested $30 million on his 19-hectare borey which started construction in 2015. The project has built more than 500 apartments among the projected total of 1,400 apartments. The project will also include markets and a theatre.

According to Mong, what makes his business successful is the focus on quality construction and infrastructure.

“I’m still optimistic about developments in Battambang city,” he said.

“Battambang city is a centre point in terms of the border, and the city has as many banks as Phnom Penh city has.”

A house in Rom Chek Borey will cost about $37,000 for a single-storey and $57,000 for a two-storey house.

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