Logo of Phnom Penh Post newspaper Phnom Penh Post - Oxley Worldbridge partners up with Metro Global



Oxley Worldbridge partners up with Metro Global

Content image - Phnom Penh Post
Metro Global COO Jerry Xu at the official joint venture press conference with Sear Rithy. Moeun Nhean

Oxley Worldbridge partners up with Metro Global

Oxley Worldbridge and hospitality management company Metro Global have cemented their recently signed memorandum of understanding by yesterday inking a joint venture (JV) agreement which will see the hospitality management company oversee the maintenance and operations of the former’s The Bridge and The Peak projects.

Singapore-headquartered Metro Global, which specialises in asset, property and hospitality management, said it promised to offer better quality services for the real estate sector in Cambodia under the partnership with Oxley Worldbridge. Under the JV, Metro Global holds a 51 percent stake and Oxley Worldbridge has the remaining 49 percent interest.

Sear Rithy, chairman of Worldbridge Group, which is building The Bridge and The Peak projects, said Metro Global is a high-quality, established and reputable property management firm which aligns with the core values of his company.

“It’s been two years, and I have seen the potential of Metro Global. I have studied and found that in the future, Cambodia’s real estate market will prosper. Therefore, I have decided to partner with Metro Global.”

Explaining the potential of the JV, Rithy said, “We can learn from [Metro Global] because they have years of experience. Hence, I can manage my project, making it successful in Cambodia’s property sector.” He continued, “This venture is a key in attracting foreign investors to come to Cambodia.”

“I don’t want people to say that after the construction, The Bridge or The Peak is only good to look at at first glance,” he said. “I want the residents who live there to live in a modern environment, in a comfortable, well-planned, and safe community. That’s why we need [Metro Global] because they are skilled.”

He raised many examples in Cambodia about how some apartments, condos, office space, or hotel developers finish their construction, yet because they don’t have proper management, they have to manage their own services, which might make it uncomfortable and not up to standards for the residents.

While Metro Global operates throughout the Asia-Pacific, Europe, North America and the Middle East regions, the JV with Oxley Worldbridge represents its first foray into the Southeast Asian market.

Metro Global chief operating officer Jerry Xu said Cambodia was an exciting, up-coming market that has much room for growth.

“With this growing economy, the [Cambodian] market needs something different,” Xu said, adding “there’s minimal competition at this stage.”

Xu said the partnership with Oxley Worldbridge represented the firms’ long-term commitment to not only the company, but also to the Cambodia market.

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

  • 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

  • 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