At least two big renowned Malaysian real estate companies look set to join other overseas investors in Cambodia.
President of Cambodian Valuer and Estate Agents’ Association Cheng Kheng said early this week that a group of Cambodian real estate experts were co-ordinating an investment in Cambodia’s agricultural industry for two big companies from Malaysia.
“We reserve the right not to disclose the name and detail of these two companies and in the near future, we will officially announce the identity of these renowned companies,” Kheng said.
“Our hope is at 95 per cent to bring these two companies into Cambodia,” he said.
“During this last stage, we are searching to buy rubber plantations in Cambodia between 5000 and 15,000 hectares for this company. Cambodian experts have evaluated the actual market price in Cambodia and have informed this first company that the current price is between $20,000 and $25,000 per hectare.
“If we compare the price in Malaysia, it is up to $50,000 and $60,000 per hectare.”
Kheng said he was more than 90 per cent hopeful the other Malaysian company wold make an investment.
“The second company has a long history in Malaysia and is well-known in the agriculture and agro-industry sector.
“In Malaysia, they have much experience in oil palm, rubber and sugar cane.”
According to the research, the land in Cambodia may be more productive for this company, Kheng said.
“We are looking to buy from owners or villagers and we want between 10,000 and 20,000 hectares. It may be empty land or plantation.”
The two Malaysian companies were optimistic the fertile land in Cambodia would give high rubber yields as well as other crops, he said.