Estatedia

Over $4 billion pours into Borey and apartment developing

PHNOM PENH: By 2021, more than $4 billion have invested in Cambodian housing development projects, including Borey, apartment, and detached housing projects.

There were 81 housing projects and housing units in the form of Borey, equivalent to 27,271 floors, according to the report on land management, urban planning, and construction in the 2021 and 2022 plans. The cost of constructing 5,408,623 square meters is estimated to be $ 1,893,017,995 (more than $ 1.8 billion).

According to the report, the apartment building has 31,985 flats/houses with a floor area of 6,617,594 square meters and an estimated investment cost of more than 2.3 billion dollars. Borey housing and apartment buildings will receive a total investment of $4.1 billion in 2021.

Oknha Nuon Rithy, Chairman of the Board of Directors of KFA Group, a company that develops affordable modern housing, told AMS:

“Despite the disruption caused by the epidemic crisis for more than a year, our expectations for the housing market remain positive.” KFA construction activities in Borey Kien Svay Park are still going well, and there are no roadblocks. It is now an opportunity at the beginning of 2022. Our construction site is about to finish, which will gain a lot more market share.”

With the above expectations, Oknha Nuon Rithy also stated that by 2022, almost all people in the country would have been vaccinated against the disease, increasing business morale and confidence. Local investors plan to increase activity and earn more opportunities than last year. It has become a good sign for the real estate sector, particularly the country’s housing sector.

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