Cambodian-Japanese Investors to Construct a Luxurious Condo in Phnom Penh

Cambodia’s Sonata Group and Japan’s Grand Company has cooperated with each other and created a joint company named Sonata Grand Realty in which Sonata Group holds 51% of share. The Sonata Grand Realty has many investment projects to contribute to the development of real estate sector in Cambodia including the construction of high building, condo and super market, with investment capital from Japan, Director General of Sonata Group Mr. Sorn Sokna said, adding that the jointly created company will at least construct condos in three areas in Phnom Penh. In the first phase, the company has started to construct a luxurious condo and expected to get the building completed by 2015, he added. Mr. Sorn Sokna and Mr. Susu Mu Hayashi, President of Japan’s Grand Company, signed an agreement on 02 October to hand over and receive US$6.5 M financing from Grand Company for the first joint investment project in constructing a luxurious condo in the centre of Phnom Penh. (Rasmei Kam, 04 October 2012)