MILLENNIA PARK, PHNOM PENH
Set to launch in the last quarter of 2018 is the Group's first affordable housing development, which will consist of 1,000 homes in the capital city of Phnom Penh.
All residents of Cambodia deserve the opportunity to have homes they are proud to call their own. Our corporate philosophy incorporates the strong belief that the continued growth and development of our cities depend on the ability of working-class Cambodians and fixed-income families to have the opportunity to participate in city life. We believe that Cambodians of all classes are entitled to a safe place to raise their families or to live out their retirement.
According to the government, by 2030, Cambodia will need more than 1.1 million new houses mainly for the poor and middle-income people. However, this number does not include current housing demands for garment workers.
These statistics are parallel to Cambodian demography showing 70% of the Cambodian population are 30 years old or younger. Considering GPD per capita, a person will earn about $1,200 per year or $100/month. In a family of two wage earners, semi-urban housing in Phnom Penh that could cost $42,000 and $84,000 is essentially impossible to attain.