Though the political situation seems to be tense right now, Borey investors are still moving forward with their new projects.
Oknha Ly Hour, CEO of the Ly Hour Group and the owner of Borey Vimean Phnom Penh, said on Tuesday that he is beginning construction on his eighth Borey Vimean Phnom Penh project, which lies along the 30-meter Borey Angkor road. The new project is close to the current Borey Vimean Phnom Penh development but does not have a name yet. They have already started selling units and are eager to kickstart construction before the end of the year.
“The reason we are starting this new project is because the sales of our previous project has been doing very well and have all been sold. This is why we are starting new projects,” he said. “The political issue isn’t a subject. The investors still venture into their investments. If they and I were scared, I wouldn’t be investing anymore.”
Ly Hour said the new project is on 15 hectares of land and is in response to demands from local residents for more housing. People trust the company because of its reputation for quality, appearance and comfort.
Another project, the Landmark 271, started construction in Borey Chip Mong this week.
Leang Henry, CEO of Chip Mong Land, said the project is in the heard of Phnom Penh and aims to give comfort and convenience to residents who commute to and from work.
Sear Rithy, chairman of the board of the World Bridget Group, is gearing up to promote his new project, The Palm, which will cost a total of $100 million and start construction on December 1.
Rithy said the 2018 National Election is not stopping his investment because people already know what the result of the election will be. Because of this, there will be no barrier to the incoming flow of foreign and local investment. With no barriers to foreign investment, he is preparing to invest in new projects including The Palm, which be located along National Road 1.
“On December 1 this year, we will expose this project to the customers at Sofitel Hotel and we are ready to listen to our customers’ feedback,” Rithy said. “I never do things with my own will. I listen to my customers’ suggestion, even though a project has been prepared. We get their feedback and improve it for their betterment.”
Chrek Soknim, CEO of Century21 Mekong, said the sale of Boreys continues to grow and will expand further in the coming years as people buy more houses in the city.
“I believe in such a situation, and investment in Boreys will continue to succeed in the future,” he said.