The Syra Company Group, developers of an eight hectare plot of land in Siem Reap, plan to subdivide most of it into affordable lots and hope to also attract Muslim buyers by including special buildings in the project precincts.
Co-developer Sa Visal said that the local Muslim interest in the real estate market is not to be overlooked and the developers are keen to make concessions to entice Muslim buyers.
“If 50 Muslim families buy land from us, we will construct a Masjid building and an Islamic instruction building for them,” he said, “Because according to what we are told, their religion is very important to their lives.”
This is one of the largest parcels of land – if not the largest – that has come on to the urban Siem Reap subdivision market in recent time. The eight hectare tract, in Takong Village, Sambou Commune, two kilometres from Siem Reap Night Market, has been divided into 300 individual plots, serviced by a 10 metre wide road.
“There are many sizes of plots for clients to choose, such as 7m x16m, and 10m x 25m that are suitable for building apartments, restaurants or villas,” Visal said. Other sizes may suit hotels or resorts.
The price across the board is $70 per square metre, comes with electricity access and the land is located outside of the Apsara Authority Zone. But cash buyers for the full amount can net a 10 percent discount.
At the moment the company is only selling land titles, but in December there are plans to construct flats for sale or rent, plus plans to install a market, park and children’s playground.
“Many customers asked us if we have any flats for rent or sale, so soon we will work on this plan,” Visal said.
Visal and his elder brother started the Syra Company group in July, and according to Visal, 150 plots of land have already been sold.