30 Mar '15, 3am

S'pore developers making tracks for Cambodia: Singapore property developers are scrambling to establish themse...

Singapore property developers are scrambling to establish themselves in Cambodia, one of the region's last frontier markets. Ravaged by decades of war and civil unrest, Cambodia began to open up only in the early 1990s. It joined Asean in 1999. The Asian Development Bank expects Cambodia's economic growth to reach 7.3 per cent this year, up from 7 per cent last year. Singapore was Cambodia's sixth-largest trading partner in 2012. Lately, Singapore's real estate investors and developers have been flocking to the capital Phnom Penh, home to 2.2 million or 7 per cent of Cambodia's population of over 15 million. One such developer is 37-year-old Darren Yap, director and chief executive of Yuen Development. It launched its inaugural project, La Vie Residences, last Tuesday. The project is 100 per cent Singaporean-owned, although the land was registered in the name of Yap's part...

Full article: http://www.asianewsnet.net/news-73409.html

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