Logo of Phnom Penh Post newspaper Phnom Penh Post - Affordable housing project in Poipet town under way

Affordable housing project in Poipet town under way

Content image - Phnom Penh Post
The project, which broke ground in mid-December, is to have 4,296 units across nine 19-floor buildings on an area of 38,400sqm. Photo supplied

Affordable housing project in Poipet town under way

Construction of Sokha Residences Sanco, an affordable housing development in Poipet town with capital investment of around $151 million, is set to be complete in early 2023.

The project, which broke ground in mid-December, is to have 4,296 units across nine 19-floor buildings on an area of 38,400sqm.

Sokha Residences Sanco is the second affordable development project in Cambodia after the Arakawa project in Phnom Penh’s Sen Sok district.

Hor Kunthea, the CEO of MR Sokha Residences Group, told The Post on Wednesday that this is the company’s first affordable housing development. The firm had previously built high-end housing projects, with all three in Poipet town.

The company’s main objective is to join with the government in providing affordable housing for low- and middle-income families, he said.

“We are currently building the infrastructure. In January, we will put machinery in place and commence construction on all the buildings simultaneously,” Kunthea said.

While the development will offer 29sqm and 32sqm properties, with prices ranging from $22,000 to almost $30,000, they are yet to go on sale, he said.

“The prices are to follow government policy of building housing for middle- and low-income people,” Kunthea said.

Sokha Residences Sanco forms part of an MR Sokha Residences Group development on more than 15ha. Construction will focus on quality and safety, as well as the environment, he added.

Ann Sothida, the director of CBRE Cambodia, said that with many people moving to Poipet for work, if the properties were affordable and the development in a good location, sales would be strong.

She said rising incomes and the desire to own a home is driving the development of new housing.

“With prices ranging from $20,000 to $30,000, they will not be difficult to sell,” Sothida said.

A recent CBRE Cambodia study found that homes costing under $30,000 could be affordable to people with incomes of more than $300 a month through instalments.

MOST VIEWED

  • Cambodia armed with money laundering laws

    Money laundering will now carry a penalty of up to five years in prison while those convicted of financing terrorists will be jailed for up to 20 years, according to new laws promulgated by King Norodom Sihamoni and seen by The Post on Thursday. Comprising nine

  • Schools to be reopened in ‘three stages’

    With guidance from Prime Minister Hun Sen, the Ministry of Education, Youth and Sport, is in the process of reopening schools in three stages. But no timeline has been set, ministry spokesperson Ros Soveacha said on Thursday. Soveacha said the first stage will be to

  • Thai border crossings eased

    The Cambodian Embassy in Thailand said in an announcement on Wednesday that Thailand’s government has allowed certain passengers from several countries to enter its borders. The visitors must go back to their country immediately after their duties in Thailand are fulfilled, the embassy said.

  • Gov’t says tourism recovers slightly despite pandemic

    The Ministry of Tourism and the Phnom Penh municipal administration have recognised 33 tourism businesses in the capital which have consistently implemented safety measures for tourists and adhered to the code of conduct issued by the ministry. Recently, the ministry announced that tourism businesses had to

  • Mull ASEAN border opening, PM urges

    Prime Minister Hun Sen has requested that ASEAN launch a scenario for gradually reopening cross-border travel and trade between countries in the region. He said ASEAN has had more success combating Covid-19 compared to other regions. The prime minister’s request was made at the

  • Ministry reports 11 new Covid-19 cases, reiterates vigilance

    Minister of Health Mam Bun Heng has urged people to continue practising virus prevention techniques after 11 people tested positive for Covid-19 within two days after arriving in the Kingdom. Speaking on Sunday, Bun Heng stressed the importance of washing hands, wearing masks or scarves when

  • Koh Rong land ‘belongs to firm’

    Preah Sihanouk Provincial Administration spokesperson Kheang Phearum told The Post on Sunday that the 35ha being bulldozed by Royal Group Co Ltd in Koh Rong belongs to it after it was leased to it for 99 years by the government in 2008. Phearum said the land does

  • Nine on Indonesia flight Covid-19 positive

    The Ministry of Health on Saturday confirmed nine more imported cases of Covid-19. The nine ‒ eight Cambodians and one Indonesian, aged 22 to 26 ‒ arrived in Cambodia on Thursday via a direct flight from Indonesia and are receiving treatment at the Khmer-Soviet Friendship Hostipal in Phnom Penh.

  • Kingdom’s financial sector healthy

    Cambodia's financial sector remains on a sustainable growth path despite the Covid-19 pandemic squeezing crucial industries, National Bank of Cambodia (NBC) governor Chea Chanto said. Tourism, garments and footwear have borne the brunt of the Covid-19 impact, he said, whereas the financial and agriculture sectors

  • Vietnam told to remove border tents

    Kandal provincial governor Kong Sophoan has ordered local authorities to prohibit the construction of buildings in areas bordering Cambodia and to report any irregularities immediately. Recently, Vietnamese officials removed another seven tents from the border area with Cambodia. His remarks were made on Wednesday afternoon