Five firms sign MoU to strengthen real estate investment between Cambodia and EU

• 21 February 2022
• Local News
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Five major local and international companies have entered partnerships on new investment opportunities to promote real estate investment between Cambodia, Canada and Portugal.

The MoU was signed on 18 February between Zillennium Co., Ltd (Z1 Group), Z1 Financial, Century 21 Fortuna Investment, Mercan Group and Mercadia Cambodia.

The collaboration is an important step towards contributing to the economic development of Cambodia by attracting foreign investors, the firms said.

Under the MoU, the five parties agreed on mutual cooperation to facilitate Cambodian investors to buy real estate in Portugal, Canada or the United States.

In the meantime, Cambodian investors will have more opportunities to raise capital from investors in EU countries or in the United States to invest in real estate projects in Cambodia.

According to World Bank’s report, foreign direct investment (FDI) inflows into Cambodia’s real estate and construction sector in 2019 and 2020 accounted for one-third of gross domestic product (GDP).

FDI investment in Cambodia will reach more than US$3.4 billion in 2019 and US$3.6 billion in 2020.

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