Local mobile banking services provider Wing (Cambodia) Limited Specialised Bank, inked a memorandum of understanding (MoU) with Capital Management Solutions (CMS) to provide the real estate industry with reliable financial facilities.

Reflecting on the positive growth trend in the Kingdom’s property market, Wing CEO Jojo Malolos said on Wednesday experts have estimated that at least 13,000 condominium units will be available in Cambodia by the end of the year.

He said the MoU would bring convenience to the sector, facilitating investments in both commercial and retail space.

“This year also marks a five per cent increase in demand for condo units, which shows that the country is moving toward investing in high-rise properties in addition to traditional housing and land.

“We aim to make it more convenient for CMS’ customers to pay for their property rentals, and other related services digitally through Wing,” he said.

He said CMS customers were required to register for a Wing account by downloading the WingMoney app or going to one of its 5,000 agents to open an account.

Malolos assured new customers that the company’s app could also be used to top-up phone credit, pay bills, make online payments and transfer funds.