Logo of Phnom Penh Post newspaper Phnom Penh Post - Bonna Reality inks deal with Malaysian real estate developer

Bonna Reality inks deal with Malaysian real estate developer

Bonna Reality inks deal with Malaysian real estate developer

130308 11b
Bonna Realty Group yesterday signed an agreement with the National 6A Investment, a Malaysian real-estate developer. Photograph: Vireak Mai/Phnom Penh Post

Bonna Realty Group yesterday signed an agreement with the National 6A Investment, a Malaysian real estate developer, to be an authorised sales agent for a 10-storey condominium that is currently being constructed and is expected to be finished by the end of 2014.

The National 6A Investment Co, Ltd had invested millions of dollars in building the 10-storey condo in the capital’s Chroy Changva district. Construction began about two years ago and is now 60 per cent complete.  And Bonna Realty will begin finding tenants this month or next, said General Manager Nuon Ritty.

“We expect to sell it out at about $10 million” he said, adding that that the building will contain 44 condos, nine commercial rooms on the ground floor and four penthouses.

Kuy Vat, chairman of VTRUST property Group, said that Cambodia’s condo market is not quite active yet.

“It is the new products to our people - only foreigners buy it. The product is not so much popular in the market yet.”

Ritthy, said that market will be more active in the next few years.

“When the ASEAN Economic Community materialises, it will push the high demand on condos because more and more investment will come in. So I think we will face a shortage of such properties.”

There have been 17 condominium projects launched since 2012.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro