Source: Phnom PenhPost,
Leading Singaporean developer HLH Group Ltd announced its entry into the Cambodian property market today with the launch of CAMHOMES, a property development firm that will provide high-quality, affordable homes in premium locations across the country.
The Camhomes brand is a subsidiary of Public Housing Development (Cambodia) Ltd, which is part of the HLH Group Ltd. The group has been building homes in Singapore since 1988, and listed on the Singapore Stock Exchange in 2000. HLH has completed a number of major residential, commercial and industrial developments in the island city-state, including numerous public housing units.
Cambodia’s property sector is booming and new buildings are springing up all over the country. However, most existing developments focus on the high-end, luxury market with very little on offer for middle-income buyers. As a result, many young Cambodians are finding it difficult to take their first steps on the property ladder.
With a focus on developing quality housing for the middle-income market, Camhomes will offer Cambodian families the chance to get involved and own a home at one of their upcoming developments in Phnom Penh, Sihanoukville and in other major cities.
The developments are modelled on Singapore’s public housing system and will utilize the ‘Build-to-Order’ sales policy, where prospective buyers register their interest in advance. This means properties do not lie empty after they are built, reducing waste and cutting costs. In Singapore, official statistics show that more than 80 percent of residents live in apartments of this type.
“We want to offer quality, affordable housing for young Cambodian professionals and families with big dreams and a mid-range income,” said Dato Dr Johnny Ong, founder and CEO of HLH Group.
Camhomes are looking to make it easier for young, professional families to achieve their dream of owning a home through a range of attractive financing options.
“We’ve been building these type of homes for Singaporean families for over 25 years. We hope this business model will work very well in the Cambodian market and will help young Cambodians realise their dreams of home ownership,” said Dato Dr Johnny Ong.