D’Seaview & Royal Platinum on track, HLH to inject US$400m in two other projects

• 20 January 2022
• Local News
• 1365 Views

Two major real estate development of Hong Lai Huat (HLH) Group in Cambodia— Royal Platinum and D’Seaview—remain on track both in terms of construction progress and sales despite the pandemic with the firm planning to inject US$400 million in two other projects.

According to its latest business update, Royal Platinum’s main construction has reached the 10th floor out of the total 28 while the sale has reached about 90%.

“With a total gross development value of US$220 million, sales are progressing well and the group remains optimistic on the outlook for FY22 especially after the Cambodian government announces quarantine free travel for the fully vaccinated back in Q4 of FY21,” the company said.

Besides, the HLH group has also acquired two other plots of land, one in Phnom Penh and another in Sihanoukville. According to the Edge Prop, both projects are currently undergoing feasibility studies and are expected to cost approximatelyUS$400 million.

In October last year, the firm has signed a joint venture agreement with HSC Group to explore and mine mineral resources at the Cambodia-Singapore Agriculture Hub in Kampong Speu province. (Read more)

The HSC Group will obtain local regulatory approval required for the mining operation, which is estimated to commence in the following months.

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