PHNOM PENH: Metra Estate Legacy, Cambodia’s first “Attainable Value Housing” project, was officially launched today in Chbar Ampov district, marking a major step toward the country’s SDG goals by delivering affordable, quality, and well-located homes for middle-income families, while helping to raise living standards in urban centres.
The launching ceremony was presided over by H.E. Tep Thorn, Secretary of State at the Ministry of Land Management, Urban Planning and Construction, who praised the pioneering project.
He spoke highly of Metra Estate Legacy’s project directly in line with the Royal Government of Cambodia’s policy, through the Ministry of Land Management, to assist middle-income families in gaining access to affordable and quality homes.
“This project provides an important solution for the backbone of our economy – working families who deserve the dignity of homeownership, contribute to achieving the SDG target by providing affordable, quality, and well-located housing for the middle-income segment and improving living standards, H.E. Tep Thorn said in his opening remarks.
This milestone achievement – driven by word-of-mouth, walk-ins, and pre-launch Open House events for Cambodian employees of strategic partners – highlights a major gap in Cambodia’s housing market: the lack of quality, well-located homes at prices affordable to middle-income families, who account for 40 percent of total housing demand yet remain largely underserved.
Mr. Kenn Yeo, CEO of Metra BCCJP Co, Ltd., the developer of Metra Estate Legacy, said the strong take-up of Phase 1A before official launch confirms what industry data has long suggested there is substantial, unmet demand from Cambodia’s working families.
“This project proves that serving Cambodia’s middle-income segment can be both socially impactful and commercially viable,” noted Mr. Yeo. “The multiplier effects construction employment, supplier opportunities, financial sector engagement, and pathways for working Cambodian families to be aware that their combined family income makes homeownership attainable extend far beyond the first cohort of residents of this innovative housing development.”
Metra specifically targets households in the P50-P80 segment families earning average combined household incomes of US$900 to US$1,200 monthly from two or more working adults.
This demographic includes teachers, healthcare workers, government officials, small business owners, factory supervisors, and other professionals who form the backbone of Cambodia’s economy.
According to JICA research, Phnom Penh alone requires approximately 8,000 housing units annually for this segment, with virtually zero quality supply currently available at appropriate price points.
The Sustainable Development Goal 11 (SDG 11) on Sustainable Cities and Communities explicitly addresses the need for adequate, safe, and affordable housing.