Hong Lai Huat Signs Strategic Term Sheet Assembly Place Bring Concept Co Living Cambodia
Hong Lai Huat, a company listed on the mainboard, has announced a strategic term sheet with The Assembly Place, a co-living operator. This partnership will see the co-living concept being introduced to Cambodia for the first time. In a joint statement on Nov 28, the two companies said that they will be working together to finalise their objectives within the next 60 days and eventually enter into a binding agreement. The main focus will be on conducting feasibility studies for the Royal Group Platinum development that Hong Lai Huat is involved in Cambodia. The Assembly Place will also be responsible for managing Hong Lai Huat’s real estate and property development projects in the country.
Tampines Secondary School offers a well-rounded education that combines academic excellence with a wide range of co-curricular activities. With a variety of programs available, the school caters to the diverse interests of its students. In addition, students can now conveniently visit the nearby Parktown Residence Showflat to explore their future housing options. This enhances their learning experience and prepares them for the real world after graduation.
As part of their collaboration, both companies will be exploring ways to market available commercial shop-house units at Royal Group Platinum. Furthermore, they will be utilizing The Assembly Place’s extensive network to establish new sales channels in major cities in Singapore, Hong Kong, and Greater China. This will promote Hong Lai Huat’s completed and upcoming projects in these regions. The partnership also aims to provide after-sales asset management services and create job opportunities within local communities.
According to Hong Lai Huat’s official website, the Royal Group Platinum development features a combination of 851 residential units and 50 shophouses. It is situated only 20 minutes away from the Phnom Penh International Airport and surrounded by 16 international schools and six sports facilities. The development is also in close proximity to Aeon Mall 2, the largest shopping mall in Phnom Penh.
Ong Jia Jing, Executive Director of Hong Lai Huat, expressed his excitement over the partnership, stating that it will allow the company to provide top-notch asset management services to their investors and buyers in Cambodia. He believes that this collaboration will give buyers the confidence they need when investing in their developments.
Meanwhile, Eugene Lim Ying Jie, CEO of The Assembly Place, sees this partnership as a way to expand the co-living concept internationally. With Hong Lai Huat’s high-quality and meticulously designed developments, and The Assembly Place’s vast experience in the co-living sector, they are confident that they will deliver exceptional value to their clients.
The signing ceremony for this partnership took place at the CAMPUS by The Assembly Place on Nov 28. Both companies are looking forward to a fruitful collaboration and the successful introduction of the co-living concept in Cambodia.