Logo of Phnom Penh Post newspaper Phnom Penh Post - Housing project announced

Housing project announced

Housing project announced

The Cambodian government has announced its first ever affordable housing project, which observers yesterday said will address a large and growing demand for low- and middle-income housing a need the government has been “quite slow” in meeting.

A groundbreaking ceremony for the project was held on the southern side of Phnom Penh on Saturday. Minister of Land Management Chea Sophara said he was busy and couldn’t answer questions yesterday, and a spokesman couldn’t be reached for comment.

However, Sear Rithy, chairman of the WorldBridge Group, said his company has been working with the government on the project, and will invest in the land and in the construction of the 2,292 affordable housing units for government retirees and low-income Cambodians.

The company bought the land last year, which covers 45 hectares, although the first phase of the project will only consist of 20 hectares.

WorldBridge will subcontract with De Habitat Builder, a company which has experience in building affordable housing in other countries, such as Malaysia and Indonesia, he said.

The units will be completed in two years, and will cost between $25,000 and $30,000 each, he said. Potential buyers must make $500 or less per month and will be eligible for low-interest rates on bank loans. “In Cambodia, we have a lot of low-income people,” Rithy said. “The demand is very high.”

Piotr Sasin, country director of People In Need, said there has been an unaddressed need for affordable housing, especially as Phnom Penh has been expanding. He said most people moving to the capital are migrating from rural areas and can’t afford high housing prices.

“The Cambodian government has been quite slow,” he said. But, he added, “They are starting to [act]. I think we need to give the Cambodian government the benefit of the doubt.”

MOST VIEWED

  • Government hits back at threats to pull EBA, suspend UN seat

    The spokesman for the ruling Cambodian People’s Party (CPP) has said the government is in no way concerned after the European Parliament gave it three months to reverse what it called the “systematic repression of the political opposition”. Ignoring the ultimatum could mean facing

  • Chinese influx pushing locals, Westerners out of Preah Sihanouk

    Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise. Preah Sihanouk province, which has become a hotbed for Chinese investment

  • Sar Kheng: Sokha requested security

    Interior Minister Sar Kheng on Sunday revealed the story behind the transfer of former opposition party leader Kem Sokha from Trapaing Phlong prison in Tbong Khmum province to his house in the capital. Speaking at the ruling Cambodian People’s Party (CPP) headquarters in Prey

  • ‘Dire consequences’ from sanctions, warns AmCham

    American businesspeople in Cambodia have warned that any sanction against the Kingdom would have “dire consequences” that could push Cambodia even further into the arms of China. In a letter to US senators and representatives dated Monday, the American Chamber of Commerce Cambodia (AmCham) said