Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom’s first real estate trust products roll out



Kingdom’s first real estate trust products roll out

Content image - Phnom Penh Post
An overview of high-rise buildings in Phnom Penh. Heng Chivoan

Kingdom’s first real estate trust products roll out

Central Trust Co Ltd, a joint venture between Cambodian and Chinese investors with a trustee licence in hand, has launched the first real estate trust products in the Kingdom.

Speaking at the inauguration last week in Phnom Penh, CEO Ling Dong announced five series of products – Funan, Zhenla, Angkor, Khmer and Bayon – which he said represent “five different functions of the company”.

He said: “Investment in the real estate market in Cambodia with its persistent display of potential has compelled companies to pick up real estate as their core, fundamental assets.”

A representative of Peak Capital Management Co Ltd, a partner of Central Trust, said at the event: “I strongly hope that all of Central Trust’s products will designed carefully and will be able to make their way around Cambodia, so that they can bring even better trust fund management to its customers.”

Ling also signed a letter of interest on “Funan series real estate single trust” products with two investors.

He said: “The two parties believe that the contract will help improve the security of clients’ corporate funds and share high-growth dividends, as well as bring economic growth and real estate development in Cambodia.”

Securities and Exchange Commission of Cambodia (SECC) director-general Sou Socheat voiced hope that Central Trust would garner more recognition in the Kingdom and make headway in the development of the trust industry.

He said: “The next step is for the SECC to invite licensed financial institutions in Cambodia to meet [Central Trust] and find out more [about them, so that we may] promote the development of trust fund management that is aligned with standards.”

Signed into law by the King on January 2, 2019, the Law on Trust aims to regulate funds, financing or subordinated debts provided by development partners and support the banking and microfinance sector in Cambodia.

The law divides trusts into four categories – commercial, public, social and individual.

MOST VIEWED

  • Hun Sen: Full country reopening to be decided in two weeks

    Prime Minister Hun Sen has announced that if the Covid-19 situation remains stable for 15 consecutive days from the end of the October 5-7 Pchum Ben public holiday, Cambodia will reopen fully, albeit in the context of Covid-19 whereby people have to adjust their lives to

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the