Chinese investors asked to invest in affordable housing project

• 4 September 2019
• Local News
• 3418 Views

Phnom Penh Municipality has asked a group of Chinese investors to invest in the real estate sector, building affordable housing for sales to civil servants and people who have low incomes.

In a meeting on Tuesday 03 September, H.E Khuong Sreng, governor of Phnom Penh Municipality told the China-based World Hakka Business Association led by its chairman Li Kam Chung that the project will get support from City Hall.

The project would be located on the outskirts of Phnom Penh and it will take a 45-minute to 1-hour drive to reach Phnom Penh, H.E Sreng said.

“If the association agree, Phnom Penh Municipality will request principles from the government to help the investors in importing construction material with free tariffs into Cambodia to build the houses and for the location will be about 50 to 60 km from the city,” H.E Sreng said in the meeting.

Regarding the project, both City Hall and the Association agreed to continue more detailed discussions.

Currently, the association has invested in Cambodia through the import of beef to Cambodia. The company is looking for other areas for investment like real estate, ports, and animal raising.

• Projects Development
• Economy and Finance
• Urbanization and Architect