Global Real Estate Network 'IQI' To Set Up 2000-Hectare Manufacturing Park In Cambodia
IQI, a global real estate and investment advisory firm with offices across five continents, has signed a Memorandum of Understanding (MoU) with Cambodia’s Premium Housing Group to establish a 2000-hectare 'Cambodia-Malaysia-China' high-tech manufacturing park in Kandal province.
The first phase of the manufacturing park’s development is expected to cover 100 hectares, with a gross development value of USD $300 million, which will later expand to as much as 2,000 hectares in subsequent phases.
The MoU was signed on March 12, 2024, at the Digital Government Forum in Phnom Penh between Daniel Ho, Co-Founder and Group Managing Director of IQI Global, and Chandy Mann, Founder and Owner of Premium Housing Group, in the presence of Malaysia’s Minister of Digital, Gobind Singh Deo.
A High-Tech Manufacturing Park Located Near Phnom Penh’s CBD
According to Ho, the new manufacturing park will be a ‘world-class development’ located only 10 kilometres from Phnom Penh’s Central Business District (CBD). He added that the park will benefit from excellent infrastructure, including two expressways.
“It is strategically positioned near already established industrial parks, and global leaders, such as Uniqlo, already produce in the area,” said Ho. “We will tap into existing demand from manufacturers who need to locate near the producers already in the area.”
“We have ambitious goals for this high-tech park. Our objective is to create a sustainable high-tech ecosystem for multinational companies to thrive and to be able to tap into the rewarding ASEAN market,” he added.
Ho expressed hope that this development will result in a thriving hub of industry in Cambodia, housing both local and international high-value industry players, within the next five years.
Developing A World-Class TVET Hub For Cambodian Workers
Another added benefit the new manufacturing park promises to bring is the establishment of a ‘world-class’ Technical and Vocational Education and Training (TVET) hub for Cambodian workers to acquire skills necessary to thrive in the modern economy.
Ho explained that IQI and its parent company, Juwai IQI, will bring manufacturing tenants to the park through their platforms and service centres, facilitating cross-border investment and development for corporate customers, particularly those from Malaysia, China, and other global players.
“The Cambodia Malaysia China High-Tech Park will also offer integrated amenities that will promote employee satisfaction and efficiency. These will include on-site dining options, recreational facilities, and essential services,” he added.
Designing The Kandal High-Tech Park To Global ESG Standards
Premium Housing Group’s Chandy Mann firmly stated that his company is committed to ensuring a timely delivery of this project, which will align with established global standards.
“As we plan the first stage of the park, we are working with renowned engineers and top-tier architects to conceptualise the project, so we can offer outstanding facilities to our tenants, and we will ensure all designs and engineering comply with environmental, social, and governance (ESG) standards,” said Chandy.
IQI Global, along with its Cambodian branch ‘IQI Cambodia’, is partnered with Juwai.com, a popular Chinese website for overseas property buyers. Both operate under ‘Juwai IQI’, with offices in Shanghai, Hong Kong, and Kuala Lumpur.
According to a report from Juwai IQI, in 2023, the company transacted more than 42,000 properties, advertised USD $4 trillion worth of properties from 111 countries, and generated 10 million monthly consumer engagements.