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Affordable housing project set to kick off

Sum Manet / Khmer Times Share:
This is one example of affordable land and houses for people in lower-income brackets. Supplied

WorldBridge Homes will officially launch its affordable housing project for sale this week after a huge crowd registered with the company for their affordable housing.

Lang Dy, a sales representative for WorldBridge Homes, said today the company will list the names of customers who can buy the affordable homes and the sales will be on January 27.

The project is about 18 kilometres from the capital in Saang district, Kandal province, and about eight kilometres from the Takhmao roundabout.

“Since the announcement for the customers for purchase registration, there have been about 2,000 customers registered with the company to buy a house in the project,” Mr Dy said. “The customers, named in the list, are required to deposit only $500 for the purchase.”

According to WorldBridge Homes, homes on the project cover 24 hectares of land out of a total 45 hectares which include shops, a clinic, a school, an administration office, a park and office space.

There are 2,297 units priced from $25,000 to $30,000, with a choice of two kinds of houses.

This first group of 2,025 units is four by seven metres with two storeys and includes two bedrooms and one bathroom. The second group of 272 units is six by seven metres and included three bedrooms, three bathrooms and two storeys.

Each house has 1.5 metres of ground at the front and two metres behind the house.

“There are a lot of demands for the affordable houses. The company will invest in another affordable housing project to meet the demand,” Mr Dy said.

However, he was not able to give any details about the timeframe for the investments and where the next project is located.

The initial investment in the project was about $60 million as the project will be completed by the end of 2018 and the company will build another project near Phnom Penh.

Dith Channa, the CEO of Lucky Realty Co, Ltd, said the affordable housing project is suitable for low-income groups, however the supply of such projects seems to be limited in the market.

“The affordable housing project is a good investment for the market because there are many poor people who want to have their own house,” he said.

“I am really impressed that the company invested in such a project, for they don’t think of the profit at first, but help low-income groups have their own homes,” he added.

“I hope there will be many developers looking at the company as a pattern and invest in such projects to help people have their own dream home.”

Chea Sophara, a senior minister at the Ministry of Land Management, Urban Planning and Construction (MLMUPC), recently called for investors and wealthy people to invest in affordable housing projects to meet the low- middle-income group’s demand.

“Those who have land and capital for the affordable housing development are eager to invest in such a project. Even though it is small with 100 units or 50, we support them, but make sure it is affordable and quality,” Mr Sophara said.

“We would like to ask the participation from Oknhas and wealthy people to develop affordable housing projects and we continue to expand such projects everywhere, while expanding the outskirts of the city to help facilitate the traffic,” he added.

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