Chinese developer pledges continued investment in Cambodia

• 21 January 2020
• Local News
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China-based property developer Prince Real Estate Group (Cambodia) has pledged to continue investing in the Cambodia real estate market in 2020, after investing billions of dollars in more than ten projects in Cambodia last year.

The ten major projects by Prince Real Estate Group in 2019 cover a total area of 1,876 hectares nationwide; six in Sihanoukville, and four in Phnom Penh, AKP reported Mr Chhiv Kua Sing, Deputy Executive Director of the Prince Real Estate Group board as saying on 16 January.

Mr Chhiv added that the two biggest achievements were the Phnom Penh Tower and the Diamond One which combined with the other eight projects mean 5,600 condominium units are currently on sale.

Prince is also currently planning to invest more in the real estate sector in Cambodia, including the construction of an 88-meter Ferris wheel and 10 new malls in Phnom Penh and in other provinces nationwide.

Mr Chhiv mentioned that the company will keep investing more in the Cambodian market in 2020, given its continued very strong potential.

Since first establishing a market presence in 2015, Prince Real Estate Group has invested around US$2 billion in Cambodia and has reserved over 12 million sqm of land and a development building volume of up to 20 million sqm. (Read more)

Besides the 2020 plan, this conglomerate also has an ambitious long-term plan to invest around US$6 billion over 10 years to create the most extensive Central Business District (CBD) in Phnom Penh as well as other provinces across the kingdom. (Read more)

It has also selected Cambodia as a strategic base to achieve its ambition of becoming one of the most influential transnational groups in Southeast Asia. (Read more)

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