Logo of Phnom Penh Post newspaper Phnom Penh Post - Singapore’s HLH lends a hand in real estate

Singapore’s HLH lends a hand in real estate

Singapore’s HLH lends a hand in real estate

The Kith Meng-owned Royal Group on Thursday signed a joint venture agreement with Singaporean-based HLH Development Pte Ltd to construct a 12-storey commercial and residential building in the capital.

The 8,221sqm project is located in Boeung Kak II, Tuol Kork district. Construction is said to start in the next three months and be completed in early 2021.

Royal Group owns the land, while HLH Development Pte Ltd is responsible for selling the building once it is completed. The project value was not revealed.

Group chief financial officer for Royal Group, Hanna Mark, said this is the first time his company is partnering with HLH Development Pte Ltd, which had been developing the D’Seaview project in Preah Sihanouk province.

“The success of this project, together with their 30-year building experience in Singapore, is the reason Royal Group selected HLH Development Pte Ltd as a partner,” he said.

The real estate sector in Tuol Kork district is growing very fast. A study by Real Estate Co Ltd said land price in the area is about $2,500 per square metre.

MOST VIEWED

  • Sihanoukville to begin road project

    The government will spend $200 million to improve Sihanoukville’s infrastructure. The eight-month project will involve the rebuilding of 34 streets with a total of more than 84km. Pal Chandara, the secretary of state and spokesman for the Ministry of Public Works and Transport, told The Post

  • Artefact is seized from American auctioneers

    Cambodian and US archaeologists on Thursday discussed the formalities and procedures of returning to Cambodia an artefact which was recently seized by US Homeland Security Investigators (HSI) from an auction house in San Francisco. On Monday, the HSI said US Immigration and Customs Enforcement (ICE),

  • Bodhisattva statue unearthed

    The Apsara National Authority technical team uncovered a sandstone statue of a Bodhisattva while carrying out excavation work at the east entrance of the Ta Nei temple on October 8. The team was trying to find the temple’s roof stone, which had fallen into a

  • World Bank: Challenges facing the Kingdom

    Cambodia’s economy currently faces challenges including credit growth in the construction and real estate sectors, rising indebtedness and the possible withdrawal of the EU’s Everything But Arms (EBA) agreement, said the World Bank Group’s latest forecast report on the Asia-Pacific economies. The