The 88 Suites project will be the first Phnom Penh based project from the developer YCT Land Pte Ltd. Along with the 88 Suites, YCT Land currently have a land division project in Kampot province.
YCT Land represents a joint venture partnership between Chong Lim Development SDN BHD and Chip Hock Realty and Development SDN BHD, two Malaysian based property development firms. YCT Land was incorporated in Cambodia in 2012, yet the company’s Malaysian experience spans over 40 years, with over 3000+ units completed and sold.
Successful projects of this development team include the University Green and the Pangsapuri Bukit Beruang Bestari, in Malaysia, to name just a couple. See the full catalog of completed projects from Chip Hock Realty.
Another example that the members of YCT Land have had some involvement in is the “Leisure Farm” project in Johor Baru, Southern Malaysia - a 1200 acre home and resort development, which has already completed several phases and are selling currently.
88 Suites represents a relatively small project for YCT Land, given the company’s history of completing grand scale township developments.
The developer also has various experience in the eco-city development sphere, and hopes to bring this concept the Cambodian market in the near future.
The reason for this eco-friendly focus is stated by Chip Hock Realty: “we understand our business’ nature directly and indirectly impacts the ecosystem within the society and community that we have operated on. Therefore, it has been the company’s long-term plan to continue building greater communities with balanced social and environmental awareness within our developments.”
The inspiration for YCT Land to launch in Cambodia is the emergence of the nation as a real estate destination with exciting opportunities: “Cambodia represents a young and open market, full of opportunities,” says Mr. Tan Kok Thong - CEO of YCT Land Pte Ltd, “in comparison to the Malaysian market; which has matured already and heading towards saturation”.
Cambodia represents a new beginning for the firm, and have settled their operations here for the long term. With that in mind, YCT Land want to maintain the standards they have followed in Malaysia in regards to both their production and partnerships with other firms.
The mantra of the company is to bring innovative products, centered on quality: “We look to the long term value for our investors, not the short term. And our partners must always maintain the same quality standards that we do,” says Mr. CP Chong - Chairman of YCT Land Pte Ltd.
Hence the launch of 88 Suites came in partnership with architecture firm SW1P Collective, Malaysia, and renowned local real estate agency, Royal 5G Realty, as sole agent.
Furthermore, the project demonstrates the company's innovation: 88 Suites will be the first SOHO (Small Office, Home Office) development on the Cambodian market, offering a distinct point of difference for investors shopping in the crowded BKK1 new developments market.
Located along Mao Tse Tung Boulevard, 88 Suites will reach completion at the end of 2018. But in the meantime, stay tuned for YCT Land’s next exciting project to launch in Cambodia!