Cambodia Investment Review
Dragon Land Investment and Phillip Trustee (Cambodia), and Phillip Bank Plc have signed a Memorandum of Understanding (MoU) to expand the overall scope of the market for products, services, and cooperation between all parties. The strategic partnership aims to facilitate foreign clients to invest in Dragon Land Project with trustee service provided by Phillip Trustee as well as affordable housing loans provided by Phillip Bank.
Read more: Phillip Trustee Receives Regulator’s Approval for Cambodia’s Growing Trust Sector
The MoU will enable foreign investors to own the Borey Dragon Land 598 project located in Russey Keo, Phnom Penh through the trust and convenience of Phillip Trustee (Cambodia). This will provide credibility to the Cambodian real estate market and attract international investors. As part of this collaboration, Phillip Trustee will provide long-term official trustee services to foreign buyers, and Phillip Bank will offer affordable housing loans of up to 80% to both local and foreign clients.
A luxury living project in Cambodia
Borey Dragon Land 598 is the first luxury living project in Cambodia and Southeast Asia, with modern facilities, private lifts, swimming pools, a lounge, large parking spaces, lush meadows, a 10,000 m2 fountain park, a gym, a children’s playground, and golf courses. Dragon Land Investment Co., Ltd. is also investing in 5 condominiums, 1 office tower, and 1 shopping mall, specially designed by Singaporean architects, and located directly on Street 598.
Phillip Trustee (Cambodia) is a newly established company that is part of the Phillip Capital Group based in Singapore and an associated company of Phillip Bank. The company provides trust services such as holding trust property, performing certain investment transactions, and acting as an intermediary for escrow trusts for real estate transactions. Phillip Trustee (Cambodia) is dedicated to being an active catalyst in bringing foreign investments into Cambodia by holding foreign investors tangible assets and enabling them to grow their businesses.
Improving and growing together
The strategic partnership will allow both parties to learn from each other in the spirit of improving and growing together. Phillip Bank, with over ten years of experience in financial management in Cambodia, will leverage its resources and facilities to help Phillip Trustee collaborate closely with foreign investors to identify the appropriate trust structure for their needs and investment objectives. As the trustee company, Phillip Trustee will hold trust properties on behalf of the trustor while ensuring that they are the ultimate beneficiary owner.
This partnership marks an important milestone in the development of the Cambodian real estate market and the trust industry. Both Dragon Land Investment and Phillip Trustee (Cambodia) are committed to providing high-quality services and solutions to their clients and look forward to a successful collaboration in the future.
