Chinese Developer Announces 10 Year, Us$6bn Master Plan in Cambodia

25 July 2018
Local News
3781 Views

One of Prince Real Estate Group in Cambodia

China-based property developer Prince Real Estate Group (Cambodia) recently revealed their 10 year master plan in Cambodia with an injection at least US$6 billion investment to create the largest Central Business District (CBD) in Phnom Penh as well as other provinces across the kingdom.

According to a video interview with RealEstate.com.kh, Mr Li Min, CEO of Prince Real Estate Group (Cambodia), said that the US$6 billion investment will be used to develop properties on more than 400 hectares of land or equal to about 6 million square metres.

The developments will comprise of residential buildings, condominiums, hotels, offices, mixed-used developments, tourist attractions, supermarkets, restaurants, and more. Meanwhile, the target provinces include Phnom Penh, Sihanoukville and Siem Reap.

“We will apply our 20 years’ experience in the construction and property sectors from China to do our best in Cambodia. We will adjust our knowledge to make it fit the Cambodian society by strictly following the rules and regulations of the kingdom. Our goal is to make Cambodia, especially Phnom Penh, to become a best city in ASEAN,” said Mr Li.

“It’s thanks to the strong cooperation and relations between China and Cambodia, especially under the ‘One Belt One Road’ initiative,” he added.

Established in Cambodia in March 2015, Prince Real Estate Group currently occupies about 5 million square metres of land for both current and future development. This giant firm has so far built a number of large-scale projects in Cambodia such as the 37-storey mixed-use development Prince Central Plaza, the 27-storey mix-use development Prince Modern Plaza, and the 19-storey Diamond One residence on Koh Pich.

According to their Facebook page, Prince Real Estate Group is also working on other future projects such as Cam MJ Development Park Co., Ltd, Prince Time Plaza, Prince Club, Prince Hotel, and others.

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