Affordable housing project breaks ground

A project to build affordable houses for low-income earners and state workers broke ground last Saturday, and will see units go on sale within two weeks. Sear Rithy, chairman of the building contractor WorldBridge Land, said the company will follow the directions of the Ministry of Urban Planning, but the cost of a housing unit would range from $25,000 to $30,000. According to Rithy, buyers of the homes must be couples with an income below $500 per month, and would have to move in after construction is completed by the end of 2018. They would not also be able to sell the home for five years, he added. Rithy was not able to say what the down payment would be, but that the company was trying to make it as low as possible. The project will be about 18 kilometers from the capital in Saang district, Kandal province and about eight kilometers from the Takhmao roundabout, and will have 2,297 units, covering 24 hectares of land out of a total 45 hectares which include shops, a clinic, a school, an administration office, a park, and office space. (Source: Khmer Times)