A wholly-owned subsidiary of real estate and agriculture firm Hong Lai Huat Group on Friday entered into an agreement with Lao Channara to acquire a plot of land in Phnom Penh for mixed-use property development for a purchase price of US$22.5 million.
The mainboard-listed company said in a bourse filing on Saturday that the subsidiary, Public Housing Development (Cambodia), acquired the 1.2-hectare freehold land plot, located in Toul Kork district in the Cambodian capital.
The transaction is part of the group’s continued efforts to look for development opportunities around the region, Hong Lai Huat said.
