IQI to set up manufacturing hub in Cambodia, potentially drawing investors from Malaysia
15 Mar 2024
Real estate outfit IQI Group is establishing a high-tech manufacturing park in Cambodia’s Kandal province, where the initial phase will have a gross development value of US$300 million that could potentially attract investors from Malaysia.
Daniel Ho, co-founder and group managing director of IQI, revealed that the first phase of the development will cover up to 100 hectares.
Subsequent phases aim to expand the park to as much as 2,000 hectares, equivalent to 20 square kilometres, he said.
“We have ambitious goals for this high-tech park. Our objective is to create a sustainable high-tech ecosystem for multi-national companies to thrive and to be able to tap into the rewarding ASEAN market,” Ho said.
He emphasised IQI’s vision to transform the area into a thriving industrial hub within five years, attracting both local and international high-value industry players.
In addition to leveraging their platforms to attract manufacturing tenants, IQI and its parent company, Juwai IQI, intend to facilitate cross-border investment and development for corporate clients, particularly from Malaysia, China, and global markets.
IQI has solidified its commitment to the high-tech park through a memorandum of understanding (MoU) with Premium Housing Group, witnessed by Minister of Digital Gobind Singh Deo and Ambassador of Malaysia to Cambodia, Datuk Eldeen Husaini Mohd Hashim.
Chandy Mann, founder of Premium Housing Group, highlighted their extensive landbank and commitment to timely and budget-conscious project delivery.
“As we plan the first stage of the park, we are working with renowned engineers and top-tier architects to conceptualise the project, so we can offer outstanding facilities to our tenants. We will ensure all designs and engineering comply with ESG standards,” he said.
Mann extended an invitation to like-minded manufacturers, emphasizing the park’s advanced amenities, strategic location, robust infrastructure, and skilled workforce as key benefits for prospective tenants.
Meanwhile, a seasoned real estate consultant has identified 2024 as an opportune time for real estate investments in Cambodia, noting an anticipated surge in interest from Malaysian companies.
“The market is experiencing a revival as it aligns with the country’s economic growth trajectory.
“Emerging from a prolonged period of stagnation, factors such as increased tourism, rapid urbanisation, and the expansion of the middle class are fueling the growing appeal of the region,” he told NST Property.
Source: NST
