Phnom Penh: Orkide Development Co Ltd on March 31 partnered with the Foreign Trade Bank of Cambodia (FTB) to provide housing loans, offering greater convenience for customers planning to invest in any Orkide project.

To keep pace with development, the banking sector plays an important role in providing loans for investment and Orkide Development has been cooperating with various banks, including FTB, the first commercial bank in Cambodia.

This collaboration was further strengthened with the signing of a memorandum of understanding between Orkide Development and FTB on Thursday at (venue) to promote trade cooperation and staff benefits. Under the agreement, FTB employees can also invest in Orkide Development housing projects.

Speaking at the signing ceremony, Khieu Sarsileap, COO of Orkide Development, said: “Offering loans from our partner bank, customers can borrow from FTB up to 80 per cent of the total price of the client's real estate. The term of the loan is up to 20 years with an interest rate of only 9.35 per cent for US dollar and only 8.75 per cent for riel, with fast and easy loan procedures.

"In the future, Orkide Development and Foreign Trade Bank of Cambodia will continue to partner with other projects to contribute to real estate development and banking and financial sectors to grow strongly and sustainably."

FTB CEO Dith Sochal said: "In line with the development direction of FTB, we will continue to expand our operations to raise the standard of services and products, which are financial solutions for customers and the market.

"The cooperation between FTB Bank and Orkide Development reflects our commitment and contribution to the real estate and banking sectors, providing more confidence to customers who are looking for housing loans for comfortable living and profitable investment.

"With housing loans from FTB Bank, customers can enjoy an easy loan application for a long-term loan with competitive interest rates with quick loan approval. We allow customers to obtain credit during the period when there is no property title yet."

Orkide is currently developing a number of projects: Orkide The Botanic City; Orkide The Pochentong; and Orkide The Royal Condominium. Each project – boasting all types of residential housing to meet customers' needs – is being developed in high potential locations, where it is easy to live and do business.

With all of Orkide’s projects, payment is convenient and flexible. No deposit is required, and customers can make a payment only 0.83 per cent per month interest-free for up to 24 months. Customers can borrow the remaining amount from partner bank FTB.

For more details, visit all three sales offices:

- The Orkide The Botanic City is located in Khan ChroyChangvar, along National Road 6Aturn left at the Orkide traffic lights seven kilometers beyond ChroyChangvar Bridge.

- Orkide The Royal Condominium is located on Street 2004 in front of CIA International School and next to Northbridge International School.

- Orkide the Pochentong is located on Wat Tangkorsang Road (St 105K) in front of Phnom Penh International Airport.

Alternatively, contact 098 73 3333, 095 277 277, 085 388 388 or 076 879 9999, or visit https://www.facebook.com/orkide.development.