HLH Group Acquires 1.2-hectare Plot in Toul Kork for New Mixed-Use Development

• Kongleaphy Keam
• 14 September 2020
• Local News
• 5807 Views

Public Housing Development (Cambodia), a subsidiary of real estate firm Hong Lai Huat (HLH) Group, has inked a deal with Lao Channara to acquire a 1.2-hectare land plot in Toul Kork district for its new mixed-use development.

According to The Business Times, the two firms entered an agreement on 11 September, with a purchase price of US$22.5 million.

Hong Lai Huat group said that this deal is part of the group’s efforts to look for development opportunities around the region.

The firm will finance the transaction by internal funds and bank borrowings. However, it would not impact the group’s net tangible assets or earnings per share for the 2020 financial year, according to the same source.

The Hong Lai Huat group has yet to release details such as the timeline of its new mixed-use development project.

HLH Group is a Singaporean agricultural and real estate firm. The firm has thus far developed several projects in Cambodia including the D’Seaview in Sihanoukville and the Royal Platinum in Phnom Penh.

Earlier this month, the firm also signed an MoU with a Denmark firm planning to build a US$1-billion Agriculture Special Economic Zone in Cambodia.

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