To create real estate cooperation, Canadian firms and local firms are actively collaborating

The latest collaboration is expected to play an important role in attracting investors from the EU to bring in the funds to Cambodia’s real estate market

A popular foreign real estate firm from Portugal and a local real estate firm from Canada have decided to enter a partnership to create a proper strategy for collaboration. According to the deal, funds will be mobilized from real estate investments made in Canada, Portugal, Cambodia, and other members of the EU. According to various sources, the signing between the involved parties took place at Hyatt Regency Phnom Penh between Z1 Financial, Zillennium Co., LTD, Mercan Group from Canada, and 21 Fortuna Investment.

 The latest collaboration is expected to play an important role in attracting investors from the EU to bring in the funds to Cambodia’s real estate market. The deals were written by Zillennium Co., Ltd.’s Group chairman, Kuy Vat, Z1 Financial’s CEO, and Chairman Say Sokheng, Century 21 Fortuna Investment CEO Va Vireak, Jasmin Dang from Mercan Group, and Jerry Morgan, CEO and President of Mercan Group. Vireak has stated that in Portugal, the property investment is attractive. Foreigners can get up to 70 percent of property value in a loan and 30 percent in a down payment. The interest rate for the said loan is also low at 1.2 percent PA. He furthermore added that the latest arrangement would make it easier for investors in Cambodia who are actively looking for partnerships.