Logo of Phnom Penh Post newspaper Phnom Penh Post - Condo spree drives merger

Condo spree drives merger

Condo spree drives merger

With the increase in condominium construction in the Kingdom, Cambodian real estate company CPL merged with Singapore-based Huttons Real Estate Group in order to cash in on prospective condo sales.

The partnership was signed on September 2, and Cheng Kheng, chairman for the merged company Huttons CPL, said he was hopeful the firm will be a leading seller of condos and apartments.

“Huttons is the number-one seller of condominiums in Singapore, so when they come here we want it to be the same,” Kheng said.

“We are a local seller and [Huttons] is a foreigner so we help them actually get people to sell to.”

Sear Chailin, CEO of realty firm Chailin Sear, said that high-rise opportunities are not the primary reason that foreign real estate companies and developers are investing in Cambodia.

“They come for trading, building malls, housing development, and general building for the public, not just targeting the local people.”

MOST VIEWED

  • Cambodia’s image problem

    In opening remarks at a recent event, Secretary of State at the Ministry of Foreign Affairs and International Cooperation Luy David said information can be a double-edged sword. He told a European Institute of Asian Studies (EIAS) briefing seminar that the media has unfairly presented

  • Kingdom's trade deal with EU questioned before poll

    A European Union (EU) mission met with senior government officials at the Ministry of Interior on Tuesday as the 28-member bloc monitors an agreement under which Cambodian goods reach the crucial European market tariff-free. Some 10 commissioners are in the Kingdom as part of a seven-day

  • A new carrier takes off in capital

    Cambodia Airways, the latest passenger airline to enter the Kingdom, launched its first domestic flight on Tuesday. Flight KR801, carrying 145 passengers, left the Phnom Penh International Airport at 9:50am and landed in Siem Reap at 10:35am in an Airbus A319. Cambodia Airways marketing and branding

  • Japan urges parties to talk

    The Japanese delegation to the United Nations (UN) expressed concern for the current political situation in Cambodia and urged all stakeholders to promote dialogue. The delegation’s remarks were read out at the UN’s 38th session on Human Rights on Thursday. Mitsuko Shino, speaking