On the 2nd of March 2017, the General Department of Housing of the Ministry of Land Management, Urban Planning and Construction signed a memorandum of understanding with the Bun Ches Group co.,Ltd. The signing was presided over by His Excellency Chea Sophara, Senior Minister and Minister of Land Management, Urban Planning and Construction .
The memorandum of understanding focuses on development cooperation for affordable housing project for civil servants, the armed forces, and the general public who are considered to be in the low and middle-income bracket.
The Bun Ches Group will be responsible for managing, preparing, and processing the development of the affordable housing project. It will be launched on the 1st of May 2017.
This is the Bun Ches Group’s first affordable housing project in Cambodia. But the Bun Ches Group has years of experience in construction; they have also completed some projects in Cambodia such as the Toul Kork Warehouse and done townhouses like the Mekong and the Mekong View Tower.
This second affordable housing project will be developed on an area of 822,160 square meters and will be located in Sleng Dey Dos Village, Prek Taten Commune, Punhea Leu district, Kandal province -- about 21 kilometers away from Wat Phnom, along National Road No. 5.
This residential project will have 5,340 units in total which are divided into two different types. The range of units includes 4,476 units sized at 5.1m X 7.2 m and 864 units that measure 5.1m X 13m.
The first affordable housing project is located 17 kilometers away from Wat Phnom, Phnom Penh. It had its groundbreaking last 7th of January 2017. And it will be finished in 2018.
That project was developed by Worldbridge Land and it occupies a land area of 20 hectares. Within this total land area, about 10 hectares are dedicated to residential housing construction and about 7 hectares are for roads and parks.
The first affordable housing project will have 2,400 residential units which are also targeted to low and middle-income bracket earners. The units will range from $250 to $500 per month and each unit can be sold from $20,000 to $25,000.
As for the second affordable housing project, the unit sales prices has not been revealed yet.
These two housing projects aim to provide affordable housing for Cambodia’s citizens, especially the middle income workers.