Stability and Economy Are the Natural Resources of Real Estate Growth Says Oknha Pung Kheav Se

• 31 January 2019
• Local News
• 2029 Views

One of Cambodia’s most prominent and well-known investors in construction and real estate has said that the growth of the sector relies on political stability and a strong economy as its natural resources.

Speaking to a meeting between the Cambodia Constructors Association (CCA) and Cambodian Valuers and Estate Agents Association (CVEA) Neak Oknha Pung Kheav Se, Chairman of the Board of Directors of Canadia Bank and Overseas Cambodia Investment Corporation (OCIC), said that there are two important resources that will make the sector continue to growth.

“To develop a steady real estate sector, we know that first thing is to have political stability and the second is money – the economy must grow strong,” he said.

“As long as we maintain political stability, more investors will come is just like saying we have natural resources,” he added.

In addition, Neak Oknha also said that investors are now confident to buy and invest in construction and real estate in Cambodia because of this stability, reflected especially by an influx of interest from Chinese investors.

Just like the Khmer slogan says, “drinking water must remember the source, staying under the shade must remember the farmer”, Neak Oknha said “we must show gratitude to those that gave us the freedom, because if we are not free, we cannot be rich”.

OCIC has invested in numerous big projects in Cambodia such as Diamond Island Development City, Olympia City, and most notably is the current rapid development of Chroy Changvar Satellite City.

• Analysis