Purchasing a condominium offers many benefits and the potential for leveraging its value for future investments. This strategy is commonly used by investors who use their condos as collateral to secure additional financing for other ventures, thereby expanding their real estate portfolio. While this can increase returns, it also comes with inherent risks. That’s why it’s important to have a solid financial plan and carefully consider the potential impact of market fluctuations. Staying informed about new condo launches can also be instrumental in making wise investment choices. To stay updated on the latest opportunities, check out new condo launches in your area.
Hong Lai Huat, a Mainboard-listed company, has recently entered into a strategic term sheet with co-living operator, The Assembly Place. This mutually beneficial partnership will see The Assembly Place managing Hong Lai Huat’s real estate and property development projects in Cambodia. Furthermore, this collaboration will also introduce the innovative co-living concept to the country for the first time.
According to a joint release issued on November 28th by both companies, the next 60 days will be spent finalizing key objectives before officially entering into a binding agreement. These objectives include conducting feasibility studies for the utilization of available units in Hong Lai Huat’s Royal Group Platinum development in Cambodia. They will also be discussing ways to market the commercial shop-house units at Royal Group Platinum. In addition, there are plans to expand the sales network of Hong Lai Huat’s completed and upcoming projects into Singapore, Hong Kong, and first-tier cities in Greater China with the help of The Assembly Place’s wide-reaching network. This partnership will also benefit local communities by providing ongoing after-sales asset management services and creating job opportunities.
Hong Lai Huat’s website states that the development is a mixed residential and commercial project with 851 residential units and 50 shophouses. Located just 20 minutes away from Phnom Penh International Airport, it is surrounded by 16 international schools and six sports facilities, making it an attractive location for residents. Additionally, it is only 10 minutes away from Aeon Mall 2, the largest shopping mall in Phnom Penh.
Expressing his excitement about the partnership, Hong Lai Huat’s executive director Ong Jia Jing shared that the group is looking forward to providing top-tier asset management services to their investors and buyers in Cambodia. He believes that this collaboration will give them the confidence they need when purchasing units in their developments. The Assembly Place’s CEO, Eugene Lim Ying Jie, sees this partnership as an opportunity to further expand the co-living concept in both local and international markets. He believes that with Hong Lai Huat’s high-quality developments and TAP’s extensive experience in the co-living sector, they can provide exceptional value to purchasers.
The signing ceremony for this partnership took place at the CAMPUS by The Assembly Place on November 28th.