Logo of Phnom Penh Post newspaper Phnom Penh Post - $70M modern borey to focus on contemporary living needs



$70M modern borey to focus on contemporary living needs

Content image - Phnom Penh Post
A computer-generated image of Borey Woodland. Photo supplied

$70M modern borey to focus on contemporary living needs

Local investors have unprecedentedly committed $70 million to building a borey development that aims to satisfy the needs of customers who desire an upscale and comfortable housing environment that doesn’t come in the form of condos.

Chin Chan Len, managing director of FURI Real Estate Company, said construction of Borey Woodland, located on Hun Sen road in the Mean Chey district of Phnom Penh, would start in mid-October.

“This is the first hotel-style villa that the company has built in response to the demands of customers who are in want of a modern and comfortable place to live in that is reasonably priced, and a place that keeps up with the improving economy in Cambodia and with it – the high living standard,” she said.

For Borey Woodland, FURI has joined hands with real estate management firm Naki Group Company, which will be responsible for overseeing the property’s management services.

“Before investing in the project, the company had done primary research about the market and the demands of the customers,” said Len.

She added, “The borey will provide a new and improved living experience, with services like restaurants, gyms, independent cafes and clothing stores. More importantly, this borey will have a green space that is about 45 percent of the total land mass.”
The architecture and the design of the borey will be handled by renowned Singaporean firm ONG&ONG Pte. Ltd.

In line with finding ways to fulfill the demands of residents for modern day living, Borey Woodland is planning to equip each house owner with a personalised telephone to accommodate a 24-hour delivery service.

Len said 50 houses in the borey had already been sold.

Huy Vanna, secretary of the Housing Development Association of Cambodia, said investing in a borey like this shows that the investors are confident in the progressive Cambodian housing market and the economic growth of the country.

He added that at present, the need for suitable housing was rapidly increasing.

“Investing in high-end villas around the price range of $100,000 and more are still in demand because the income of Cambodian people keeps increasing.”

Head of the Cambodian Valuers and Estate Agents Association, Kim Heang, stated that the purchase price of the borey will ultimately determine the success of the project.

Meanwhile, City Hall spokesman Mean Chanyada said the location of the borey development was an up-and-coming area for housing projects.

“The development of the west and the north side of the city caused a lot of traffic jams. That is why [developers] have changed directions and are starting to focus on developing the south and the west side instead, in an attempt to even out the development distribution,” he said.

MOST VIEWED

  • Cambodia on the verge of national tragedy, WHO warns

    The World Health Organisation (WHO) in Cambodia warned that the country had reached another critical point amid a sudden, huge surge in community transmission cases and deaths. “We stand on the brink of a national tragedy because of Covid-19. Despite our best efforts, we are

  • Phnom Penh curfew starts today

    A two-week curfew from 8pm to 5am starts today in Phnom Penh, a day after a sub-decree detailing administrative measures to contain Covid-19 was issued by Prime Minister Hun Sen. “Travelling in Phnom Penh is temporally banned between 8pm and 5am,” said Phnom Penh governor

  • Vaccination open to foreigners in Cambodia

    The Ministry of Health on April 8 issued an announcement on Covid-19 vaccination for foreigners residing and working in Cambodia, directing the Ministry of Labour and Vocational Training and local authorities to register them. Health minister Mam Bun Heng, who is also head of the inter-ministerial

  • Cambodia gears up for muted New Year festival

    The recent curfew and restrictions imposed in the capital and other Covid-19 hotspots were intended to break the chain of transmission, Ministry of Health spokeswoman Or Vandine said as municipal and provincial authorities issued new directives banning certain activities during the upcoming Khmer New Year

  • Covid-19 vaccination now obligatory

    Prime Minister Hun Sen on April 11 issued a sub-decree making Covid-19 vaccination compulsory for individuals unless they have a medical certificate proving they have pre-existing health conditions that prevent them from doing so. «This applies to all members of the armed forces and civil servants

  • Culture ministry: Take Tuol Sleng photos down, or else

    The Ministry of Culture and Fine Arts has told Irish photographer Matt Loughrey to take down the photos of Khmer Rouge victims at Tuol Sleng Genocidal Museum which he allegedly colourised and altered to show them smiling. The ministry said Loughrey's work is unacceptable, affecting