Logo of Phnom Penh Post newspaper Phnom Penh Post - Housing project announced

Housing project announced

Housing project announced

The Cambodian government has announced its first ever affordable housing project, which observers yesterday said will address a large and growing demand for low- and middle-income housing a need the government has been “quite slow” in meeting.

A groundbreaking ceremony for the project was held on the southern side of Phnom Penh on Saturday. Minister of Land Management Chea Sophara said he was busy and couldn’t answer questions yesterday, and a spokesman couldn’t be reached for comment.

However, Sear Rithy, chairman of the WorldBridge Group, said his company has been working with the government on the project, and will invest in the land and in the construction of the 2,292 affordable housing units for government retirees and low-income Cambodians.

The company bought the land last year, which covers 45 hectares, although the first phase of the project will only consist of 20 hectares.

WorldBridge will subcontract with De Habitat Builder, a company which has experience in building affordable housing in other countries, such as Malaysia and Indonesia, he said.

The units will be completed in two years, and will cost between $25,000 and $30,000 each, he said. Potential buyers must make $500 or less per month and will be eligible for low-interest rates on bank loans. “In Cambodia, we have a lot of low-income people,” Rithy said. “The demand is very high.”

Piotr Sasin, country director of People In Need, said there has been an unaddressed need for affordable housing, especially as Phnom Penh has been expanding. He said most people moving to the capital are migrating from rural areas and can’t afford high housing prices.

“The Cambodian government has been quite slow,” he said. But, he added, “They are starting to [act]. I think we need to give the Cambodian government the benefit of the doubt.”

MOST VIEWED

  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • Hun Sen gets 4th Covid shot, urges compatriots to follow

    Prime Minister Hun Sen and his wife Bun Rany on January 14 received their fourth dose of Covid-19 vaccine and called on compatriots to follow suit as the Omicron coronavirus variant continues to spread in the community. This marks the launch of Cambodia's fourth-dose vaccination campaign,

  • Mr Pancake or M Crepe? Tasty by any title

    Crowds of people gather around a lone man with a mobile food cart every day at around 2pm in front of the Institut Francais du Cambodge to order what many say are the best crepes in Phnom Penh. To some – even to the man making

  • Fourth dose Covid booster drive jabs 43K in two days

    In the first two days of the fourth-dose Covid-19 vaccination campaign, more than 43,000 people volunteered to get the jabs, while over 4.6 million people have received a third shot. Health ministry spokeswoman Or Vandine said that fourth-dose vaccinations, which began on January 14 exclusively with the Pfizer

  • Singapore backs Cambodia's efforts on Myanmar

    Singaporean Prime Minister Lee Hsien Loong supports Cambodia in its efforts to seek a solution to the ongoing Myanmar crisis as the chair of ASEAN. Lee expressed his support during a meeting with Prime Minister Hun Sen via videoconference on January 14, with the talks focused