Booyoung Khmer II Co., Ltd., a subsidiary of Booyoung Group of South Korea, yesterday announced the sale of housing in Borey Booyoung Sen Sok.
These housing projects cost a total of more than $ 95 million on 110,000 square meters of land in Banlea Set village, Khmuonh commune, Sen district. Sok Phnom Penh is 5 minutes away from Aeon Mall 2, Macro Market, Global House, many international schools, golf clubs as well as other shops. .
Borey Booyoung Sen Sok was developed by Booyoung Khmer II, a local Cambodian company established in 2007 with Lee Joong Keun is the Chairman of the Board. The Borey has 716 residential locations, including apartments, villas, twin villas and shopping malls, covering an area of approximately 110,000 square meters. The whole is expected to be completed within 20 months after the announcement.
Cho Jun Young, managing director of Booyoung Sen Sok, stressed that this was the first project by Booyoung Khmer II is developing a Borey in Phnom Penh and is its first project to sell a house in Cambodia. Borey is a popular community as the company has stated that it will bring quality housing for the people in Cambodia.
“This Borey is not only for real estate investors, but also for all aspiring customers to live there too, said Cho Jun Young.”
He added that Booyoung Group is a major South Korean housing developer as it has built more than 280,000 construction sites. Since 1983. Based on modern housing construction technology, the company will build and supply the safest housing to meet the preferences of the people of Cambodia.
“We will provide quality to our residential construction in accordance with building regulations in Cambodia,” he said.
Chrek Soknim, president of the Cambodian Association of Appraisers and Realtors (CVEA), told Khmer Times yesterday that Sen Sok is still a potential location for investors as it has a lot of land for development of residential projects such as flats, villas or types Other houses.
“I have observed demand and supply for housing projects during the H5N1 virus outbreak,” he said. Vid 19 as the current new housing project has resumed. “The real estate sector is seeing steady growth as locals start buying and selling real estate.”
Mr. Chrek Soknim added: “Sen Sok, Por Sen Chey and Prek Pnov areas are important attractions for developers while “Housing projects or Boreys are seen as having a lot of construction in these areas, and most of the investors are local investors.”
According to real estate company CBRE Cambodia, property prices in Phnom Penh have not dropped in the past six months.
Due to increasing domestic demand, the cost of construction increased in all types of construction in the first quarter of 2020 This is compared with the third quarter of 2019. Sales of apartments and twin villas during the first quarter of this year rose 2.1 percent and 2.2 percent, respectively. Hybrids grew 2.9 percent.
For houses and villas, a significant increase was observed, while prices rose 3.9 percent and 4.3 percent, respectively.
As of the first quarter of 2020, three projects have been completed, while five more have started, according to CBRE Real Estate.
The three completed projects are located in Meanchey and Chbar Ampov districts, while Sen Sok district is still the leading area in Land supply.