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HLH Group launches Singapore-style development in Cambodia

SINGAPORE – The Cambodian real estate market will soon see a Singapore-style residential development added to its mix, with a Singaporean developer launching the first such project in the port city of Sihanoukville today (Sept 26).

The 735-unit D’Seaview, by HLH Group, targets young Cambodians who demand “good quality” mass market homes. Photo: HLH Group/Facebook

The 735-unit D’Seaview, by HLH Group, targets young Cambodians who demand “good quality” mass market homes. Photo: HLH Group/Facebook

SINGAPORE – The Cambodian real estate market will soon see a Singapore-style residential development added to its mix, with a Singaporean developer launching the first such project in the port city of Sihanoukville today (Sept 26).

The 735-unit D’Seaview, by HLH Group, targets young Cambodians who demand “good quality” mass market homes. Prices will start at US$33,000 per unit and interested buyers are required to go through a registration process similar to Singapore’s public housing application procedures.

D’Seaview, a freehold mixed development with a commercial component, is the first project under HLH Group’s CAMHOMES brand. Under the brand, the company will build condominiums and prime apartments in Phnom Penh, Siem Reap and Sihanoukville as a start before venturing to other Cambodian provinces.

“We see tremendous growth in Cambodia – especially with a young and vibrant population with rising disposable income,” said Dato Dr Johnny Ong, HLH Group’s CEO and Deputy Chairman, who officiated the launch with Mr Samdech Kralahom Sar Kheng, Cambodia’s Deputy Prime Minister and Minister of the Interior.

Dato Dr Ong added that demand for mass market homes in Cambodia is estimated to be more than 1 million in the next few years, which should ensure a “strong pipeline” of projects for the company. That is also one of the reasons why HLH is focusing its efforts in Cambodia for now, besides its home market Singapore.

Besides real estate, HLH has also expanded its presence in the agriculture sector in Cambodia by investing in a cassava starch production facility. The facility has the capacity to produce up to 120 tons of cassava starch daily, which will be exported.

“With these strong and positive trends, I am optimistic about prospects in Cambodia as the country continues to open doors to investors and businesses. Cambodia holds a lot of potential to grow further, and we want to grow with it,” said Dato Dr Ong, citing Asia Development Bank’s data that showed Cambodia’s growth is expected to 7.5 per cent in 2016.

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