Prince Holding Group Brings International Brands to Cambodia With New Commercial Retailing Project

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HONG KONG SAR – Media OutReach
– 27 January 2021 – Prince Real
Estate Group, a member of Prince Holding Group, a leading conglomerate in
Cambodia, has successfully conducted an investment agreement ceremony of Prince
Square. The project will be the real estate developer’s first commercial retail
project in Phnom Penh, Cambodia and it will bring a slew of well-known brand
names like Adidas, Levi’s, Skechers, Nike by Supergo, Huawei, OPPO, Potato
Corner, Dakasi, Panda Cake and Pizza Hut to the city.

As a metropolitan area, Phnom Penh is steadily
integrating into the global economy. According to the Globalization and World
Cities Research Network, Phnom Penh was classified as a Gamma+ city[1]
(cities that link smaller economic regions into the world economy) in 2020
moving up the ranks over the past two years.

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With a total floor area of 35,000 square meters
of retail space. Prince Square will be a four-storey building with a large
supermarket, an international cinema, a fitness club, international
restaurants, an indoor playground and fashion stores.

“I am deeply impressed by the number of tenants
that have already signed on for Prince Square. As the first commercial
retailing project for Prince Real Estate Group, I am pleased to note that the
construction of Prince Square will involve the use of advanced equipment and
attract world-renowned brands that will cater to the needs and preferences of
Phnom Penh residents,” said H.E. Mr. Khuong Sreng, municipal governor of Phnom
Penh. “We hope it will attract local and international tourists to the city and
increase Phnom Penh’s attractiveness as an investment destination in Cambodia.”

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Prince Real Estate Group is one of the top
developers in Cambodia. Founded in 2015, Prince Real Estate Group has completed
numerous projects in Phnom Penh and Sihanoukville. It has contributed to the
rapid transformation of urban Phnom Penh in recent years with real estate projects
spanning across 1 million square meters.

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“We are thankful for the support offered by the
Phnom Penh municipal government and leaders of relative departments that has
ensured the smooth development of the project so far,” said Steven Wang, CEO of
Prince Real Estate Group. “It has been a long journey for Prince Square but
with such high-profile tenants signing on, we have taken an important first
step. Prince Square and its strategic brand partners will complement one
another by sharing resources and seeking development opportunities together
allowing us to live up to our aspiration of helping Cambodians build a better
life.”

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Prince Real Estate Group is run by a team of
experienced architects, property development professionals and building
managers with extensive experience developing residential and commercial
buildings, resorts and integrated facilities.

Prince Real Estate Group aims to be a
multinational developer with aspirations to pursue projects across Southeast
Asia.



[1] The World According to GaWC 2020 (link)

About Prince Holding Group

Prince
Holding Group
, better known as Prince Group, is
one of the largest corporate conglomerates in Cambodia, with businesses
spanning across multiple industries, including real estate development,
banking, finance, aviation, tourism, logistics, technology, food and beverages,
and lifestyle sectors. Prince Group adheres to its mission of “Building a
Better Life” and the Group’s philosophy espouses the values of
“Commitment, Responsibility, Respect, Generosity and Innovation”.

Prince Holding Group Brings International Brands  to Cambodia With New Commercial Retailing Project

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Latest News

Vivocom’s Group Game Changer – Multi-Billion Sand Project Secured

  • Initial contract worth RM3.79 billion for three years
  • Aspires to be a major industry player 'with exponential growth prospects'


KUALA LUMPUR, MALAYSIA - Media OutReach - 26 February 2021 - In a filing to Bursa Malaysia this evening, Vivocom Intl Holdings Berhad ('Vivocom') announced that V Development Group via one of its subsidiaries has secured a 'massive win' worth approximately USD934.7 million or the equivalent of RM3.79 billion.

Rain International Sdn Bhd ('Rain International') is a 97% owned subsidiary under the V Development Group which was recently merged into the Vivocom Group. The Company's proposed acquisition of V Development Group had been recently approved by the relevant authorities.

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Rain International is principally involved in the mineral trading and exportation business, supplying sand to its client mainly in Hong Kong and China for reclamation and construction works. The Company had recently signed a contract for the supply of marine sand for a minimum period of three years.

The contract is for the supply of sand to Zhen Hua Engineering Company Ltd-China Communications Construction Company Ltd-CCCC Dredging (Group) Company Ltd. (ZHEC-CCCC-CDC), a Joint Venture contractor appointed to undertake the main reclamation works for the Hong Kong International Airport Three Runway System Project.

Director Mr William Chan Ching-Kee said: "As the appointed agent for the ZHECC-CCCC-CDC Joint Venture, we are looking forward to the exportation of sand from Malaysia to our client in Hong Kong to commence without any further delay."

Dato Seri Chia is optimistic that the contract would be extended for another two to three years and could potentially generate revenue of up to RM6 billion.

"The sand business is a major boost because it gives us tremendous visibility. The potential revenue is huge, recurring and highly scalable," its jubilant CEO, Dato Seri Chia Kok Teong exclaimed.

"The potential for explosive growth in the sand business is real and tangible, and bodes well for the Group in the next few years."

"We are starting with 3 years but the contract can easily be increased to 5 years and beyond, with higher tonnage shipped every 6 months. The exportation of sand will increase sharply over time," he added.

Besides the reclamation works for the Hong Kong International Airport, the rapid pace of construction and reclamation works in China and Singapore also requires heavy demand for sand, which is a considerable boon to Malaysia.

"The market for sand export is extremely humongous and will fuel the Group's rapid growth for the next several years. The RM3.79 billion Win is the first of many more to come."

"I have in fact urged my team to secure up to RM10 billion worth of sand contracts by the end of 2021. This is part of our overall transformation strategy to become a multi billions conglomerate," declared Dato Seri Chia.

"It is our core strategy to strengthen and diversify the Group's revenues generation capabilities and capacities and not be too narrowly focussed."

"Presently, we are already in negotiations for another RM2 to RM3 billion sand contract. Once finalised, we will make the relevant announcement as per Bursa Malaysia's requirements," Dato Seri Chia elaborated.

The sand would be procured from an approved permit holder to export sand overseas, and sourced from concession areas in Sandakan and Sungai Beluran in Sabah and throughout Malaysia.

"Even with this massive sand contract already secured, we will not be complacent. I have earlier promised to transform Vivocom into a behemoth Conglomerate and I will work non-stop to deliver on the promise," Dato Seri assured.

Since Dato Seri Chia's entry into Vivocom in January 2020 when its price was at 15 cents, the share has climbed sharply and last closed at RM1.06 on Thursday, 25th February 2021.

"I am very optimistic that Vivocom shares will continue to grow strongly and be worth a lot more than presently over time. I'm proud to say that we are no longer a penny stock," he reflected.

"My team is totally committed to building Vivocom into a reputable and profitable public company, one with solid fundamentals, sustainable profits and healthy cashflows."

"As a priority, we will work towards getting the Group elevated to the Main Board of Bursa Malaysia and be a dividends-paying company soonest possible," quipped Dato Seri.

To show his commitment, Dato Seri Chia has undertaken a voluntary self--imposed moratorium (or SIM) in that he will not dispose his personal stakes in Vivocom for the next 3 years. This will ensure the company's long-term price stability and sustainability.

"We want a stable and strong share price so that the Company can use its shares with its high liquidity as a currency for M&A activities to fund and fast-track expansion and growth," he explained.

"A strong share with high liquidity is a most valuable and prized asset. We will use it to buy Companies with game-changing and disruptive strategies. To look for the Next Big Thing."

"The enormous followings in the Company are what is driving in tremendous liquidity and momentum giving our share price added impetus," Dato Seri proudly asserts.

"We aspire to emulate Berkshire Hathaway strategy started over 40 years ago by Mr Warren Buffet. Mr Masayoshi Son built SoftBank Group of Japan along the same philosophy and Alphabet in US adopted similar strategies."

"These three companies are presently amongst the most valuable and admired companies in the world. I have the same dream for Vivocom. I am determined to leave behind an enduring legacy for all our valued shareholders," concluded Dato Seri Chia.

Prince Holding Group Brings International Brands  to Cambodia With New Commercial Retailing Project - Brand Spur
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