PHNOM PENH: Last Tuesday, August 2, 2022 – Overseas Cambodian Investment Corporation (OCIC) continued to strengthen collaborations with strategic partners who share the same vision as part of its ongoing efforts to turn its integrated mixed-use projects into thriving growth hubs.
A Memorandum of Understanding (MoU) setting out the terms and conditions was signed between Ms. Lim Lychin representing Overseas Cambodian Investment Corporation (OCIC) and Dato Sri Dr. Ricky Yaw Chan Choy for Eakon Group. The MoU stipulates crucial details such as a work scope and the business commitment.
Speaking after the signing event witnessed by Malaysian Ambassador to Cambodia H.E. Eldeen Husaini Mohd Hashim and H.E. Charles Vann, Executive Vice President of Canadia Group and Dato Sri Dr. Ricky Yaw Chan Choy for Eakon Group shared, “Eakon Group will share professional engineering, architectural and construction know-how and technical skills with our OCIC counterparts and also assist to source retail tenant mix and international investors for the Elysee project to develop world-class properties that will enhance the livelihood of citizens and businesses here.”
Inspired by cities in the Champs Elysees in Paris, the 75,800 square meters The Elysee is one of Overseas Cambodian Investment Corporation’s township development in Phnom Penh that brings the sophisticated culture of Northwestern Europe to Cambodia. The combined upscale mixed-use program of exclusive residences, premium-grade offices, and top-notch dining and leisure areas offer uniquely vibrant and complete lifestyle experiences to its future owners and investors.
“We look forward to attracting more Malaysian investors to our integrated mixed-use projects, especially since Cambodia has witnessed an increasing number of foreign investors in recent years despite the pandemic. Through this partnership, we will look forward to highlighting the many advantages of Cambodia’s investment opportunities, allowing us to also emphasize OCIC’s competitiveness in delivering pioneering property and infrastructure projects in the country,” Ms. Lim Lychin shared.
Yaw added that the MOU was the fruition of a trade delegation to Cambodia organised by the SME Association of Malaysia in April 2022 under the Ministry of International Trade and Industry, where initial meetings were held between Eakon Group and OCIC, followed by a return visit by the OCIC team in May 2022 to Malaysia to continue the project negotiations.
EKG Development Sdn Bhd is the property development arm of the Eakon Group, a group of Malaysian companies specialising in mechanical, electrical, and plumbing services for large-scale commercial and residential projects and educational institutions.
OCIC is the largest conglomerate in Cambodia involved in large-scale property development and infrastructure projects, besides other business sectors ranging from aviation and education to media and retail.
The Eakon Group is a group of companies registered with the Malaysian Construction Industry Development Board that specialises in mechanical, electrical, and plumbing services for large-scale commercial and residential projects and educational institutions. Major benefits include air-conditioning and mechanical ventilation and electrical, fire-fighting and plumbing work for property developers, government departments, and corporate clients, including multinational companies, in Malaysia and abroad. EKG Development Sdn Bhd is the property development arm of the Eakon Group. For more information, visit https://www.eakon.com.my/.
OCIC is currently Cambodia’s largest and leading property developer by its investment size and several projects developed. The company’s core expertise is in real estate development, satellite city, and property management, with notable projects such as the New Phnom Penh International Airport, Diamond Island City, Norea Island, and Chroy Changvar Satellite City and Olympia City Complex. For more information, visit https://www.ocic.com.kh/.
Photo by: Supplied