Sales Launched for Kandal Province Affordable Housing Project

• 19 July 2018
• Property Focus
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Borey Monorom Preaek Ta Teaen

B&BM Development Co, Ltd launched official sales for their affordable housing project Borey Sen Monorom in Kandal province on 12 July.

Located along National Road No. 5 (22km from Wat Phnom) in Preaek Ta Teaen Commune of Kandal province, the project comprises of more than 5,000 housing units which are being built on approximately 82 hectares of land. The project also includes a supermarket, bus terminal, as well as other amenities.

The project is operating through cooperation between B&BM Development Co ,. Ltd and the Cambodian government though the Ministry of Land Management, Urban Planning and Construction, aiming to provide affordable housing to low and medium income buyers. Therefore, the price rank of the house within the project starts from about US$25,000.

This project is the second private sector-government joint project following the first affordable housing project by World Bridge in Sa Ang district.

Ground was broken in May last year by Land Management, Urban Planning and Construction Minister H.E. Chea Sophara, and the project is now still at the first stage of construction. At this stage, the company is currently building the gate, roads, and other infrastructures inside the project. Meanwhile, the whole project is scheduled to be completed within two and a half years.

According to the sales officer, more than 200 units have already been sold.

Besides these projects, the Phnom Penh Special Economic Zone also plans to break ground on its 3000 unit affordable housing project this upcoming November.

Regarding the housing issue in Cambodia, the government’s 2014 National Housing Policy reported that by 2030 an extra 1.1 million houses will be needed to fulfill the demands of the rising population. Among that, Phnom Penh alone will need about 800,000 houses. (read more)

 

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