Logo of Phnom Penh Post newspaper Phnom Penh Post - Provinces show promise for local investors to develop housing projects



Provinces show promise for local investors to develop housing projects

Content image - Phnom Penh Post
Pursat province’s icon of a water vessel at a roundabout. Moeun Nhean

Provinces show promise for local investors to develop housing projects

Domestic investors have expressed optimism for projects being built in Cambodia’s provinces, which have a high demand for suitable housing.

Phou Puy, head of the Federation of Cambodian Rice Millers Associations, which has invested more than $8 million in a residential development in the town of Pursat, told Post Property that out of the 1,000 apartments earmarked to be built as part of phase one, more than 200 apartments have already been completed.

Phase one of the project sits on 27 hectares of land and includes two markets, a vegetable market and a mini mall.

“Pursat is a small town yet well-organised, therefore, I decided to invest in the city in order to meet the resident’s demand,” he said, adding, “Pursat has only one market which makes it a small town, unlike Battambang city which has up to seven markets, so I decided to invest in two markets.”

He continued, “Battambang city seems bigger than Pursat and yet Pursat’s economy is good. However, we do not expect to sell out in one or two years, it needs more time.”

Another investor, who has built housing in the north of Cheik Village in Pursat, said that construction of housing in the area was increasing year-on-year.

Ear Veng Mong, CEO of Borey Rom Chek in Battambang city, has invested $30 million on his 19-hectare borey which started construction in 2015. The project has built more than 500 apartments among the projected total of 1,400 apartments. The project will also include markets and a theatre.

According to Mong, what makes his business successful is the focus on quality construction and infrastructure.

“I’m still optimistic about developments in Battambang city,” he said.

“Battambang city is a centre point in terms of the border, and the city has as many banks as Phnom Penh city has.”

A house in Rom Chek Borey will cost about $37,000 for a single-storey and $57,000 for a two-storey house.

MOST VIEWED

  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • PM eyes Myanmar peace troika

    Prime Minister Hun Sen has suggested that ASEAN member states establish a tripartite committee or diplomatic troika consisting of representatives from Cambodia, Brunei and Indonesia that would be tasked with mediating a ceasefire in Myanmar. The premier also requested that Nippon Foundation chairman Yohei Sasakawa

  • Demining rat ‘hero’ Magawa dead at 8

    A landmine-hunting rat that was awarded a gold medal for heroism for clearing ordnance from the Cambodian countryside has died, his charity said on January 11. Magawa, a giant African pouched rat originally from Tanzania, helped clear mines from about 225,000sqm of land – the equivalent of 42

  • Hun Sen gets 4th Covid shot, urges compatriots to follow

    Prime Minister Hun Sen and his wife Bun Rany on January 14 received their fourth dose of Covid-19 vaccine and called on compatriots to follow suit as the Omicron coronavirus variant continues to spread in the community. This marks the launch of Cambodia's fourth-dose vaccination campaign,