Royal Group Unveils New Major Mixed-use Development For Toul Kork
The Royal Group of Companies has proudly unveiled its new major mixed-use development project in Toul Kork with its partner, Singapore-based property developer Hong Lai Huat Group Limited.
The 100,000 square metre development will provide both residential and commercial opportunities, improving home affordability, creating jobs, and attracting further investment to the growing city centre. The development, to be named Royal Platinum, will feature up to 851 apartment units and 50 shop house units. The indoor shopping street is expected to attract multiple new international retail brands, providing new shopping experiences and a product range including restaurants, fashion, and more.
The construction is expected to take two and a half years to complete, with residential and commercial sales commencing as soon as June this year. The ground-breaking ceremony held on May 7th, 2019, on the construction site was officiated by Royal Group Chairman Neak Okhna Kith Meng and Hong Lai Huat Group Chief Executive Officer Dato Dr Johnny Ong.
Royal Group Chief Financial Officer Mark Hanna said the development would be a significant addition to the growing centre of Toul Kork, which is quickly advancing as one of the most affluent centres of Phnom Penh.
“We believe the development will provide an attractive lifestyle for families and contribute to the economic vibrancy of the area with offices for small and medium-sized businesses,” Mr Hanna said. “The development will also provide great shopping alternatives and entertainment facilities for all ages, including an indoor shopping street, restaurants, and an Executive Club.”
The development is the latest in a list of reputed projects by Royal Group, including Northbridge Communities, North Park Condominium, and Southbridge International School.
About Royal Group of Companies:
The Royal Group is Cambodia’s premier investment and development conglomerate spanning more than 30 companies across a diverse portfolio. Established as a strategic investment holding company, it maintains interests in a wide range of industries including telecommunications, transport, energy, media & entertainment, banking & financing, insurance, hotels & resorts, education, property development, trading, and agriculture. The Royal Group is the strategic investment gateway for Cambodia. Having a history of successful, market-leading partnerships with investors in a diverse range of industries, The Royal Group offers overwhelming investment potential in one of the first truly free-market economies in the Mekong Region of Asia. We welcome the opportunity to discuss your investment needs. The Group continues to expand its interests in many industry fields and is always looking for new opportunities to expand and improve the business environment in Cambodia.
About Hong Lai Huat Group Limited:
Hong Lai Huat Group Limited is a reputable real estate and property developer with 31 years of successful track record. Established in 1988, the Group has completed numerous residential, commercial, and industrial projects across Singapore. In 2008, the Group diversified into the agricultural sector that focuses on the cultivation of fresh cassava on a 10,000-hectare land in Aoral District, Kampong Speu Province, Kingdom of Cambodia, and produces native tapioca starch for food and industrial users in Europe and Southeast Asia. In 2016, the Group launched the D’Seaview project, its maiden freehold development in Cambodia, which will be developed in Sihanouk province. The project consists of 737 residential units and 67 commercial units. In 2019, the Group will be launching Royal Platinum, its second mixed development following the success of project D’Seaview. Royal Platinum will be developed in Toul Kork district, offering over 800 residential and commercial units. Hong Lai Huat Group Limited was listed on the Mainboard of the Singapore Stock Exchange on 21 June 2000.