Hong Lai Huat, a company listed on the mainboard, has recently formed a strategic partnership with co-living operator The Assembly Place. Under the terms of the agreement, The Assembly Place will be responsible for managing Hong Lai Huat’s real estate and property development projects in Cambodia. This partnership also marks the introduction of the co-living concept in Cambodia for the first time.
In a joint announcement made on Nov 28, both companies stated that they will work together to finalize the key objectives of their partnership within the next 60 days. These objectives include conducting feasibility studies for the fitting out of available units in Hong Lai Huat’s Royal Group Platinum development in Cambodia. Additionally, the companies will collaborate on marketing Hong Lai Huat’s available commercial shop-house units at Royal Group Platinum. They also plan to leverage The Assembly Place’s extensive network to establish new sales channels in Singapore, Hong Kong, and first-tier cities in Greater China for Hong Lai Huat’s completed and upcoming projects.
In addition to the business benefits, the partnership will also bring positive impacts to the local community, including ongoing after-sales asset management services and job creation.
According to Hong Lai Huat’s website, the Royal Group Platinum development is a mixed residential and commercial project featuring 851 residential and 50 shop-house units. It is conveniently located just 20 minutes from the Phnom Penh International Airport and is surrounded by 16 international schools and six sports facilities. The development is also just 10 minutes away from Aeon Mall 2, the largest shopping mall in Phnom Penh.
Executive Director of Hong Lai Huat, Ong Jia Jing, expressed his excitement about the partnership, stating that it will enable the company to provide top-tier asset management services to its investors and buyers in Cambodia. This will give them the confidence they need when purchasing units in the company’s developments.
In summary, investing in a condominium in Singapore comes with numerous advantages, such as strong demand, potential for capital appreciation, and attractive rental returns. However, it is crucial to carefully consider various factors, including location, financing options, government regulations and market conditions. Conducting thorough research and seeking expert guidance can enable investors to make well-informed decisions and optimize their gains in Singapore’s ever-changing real estate landscape. Whether you are a local investor looking to expand your investment portfolio or a foreign buyer seeking a stable and profitable venture, Singapore Projects offer a compelling opportunity for condominium investments.
The Assembly Place’s CEO, Eugene Lim Ying Jie, added that this partnership aligns with their strategy of expanding the co-living concept both locally and internationally. He believes that the collaboration between Hong Lai Huat’s high-quality and thoughtfully designed developments and The Assembly Place’s vast experience in the co-living sector will deliver exceptional value to purchasers.
The signing ceremony for this partnership took place at CAMPUS by The Assembly Place on Nov 28.