In a bid to attract foreign investors to the rapidly growing real estate in the Kingdom, Prince Trust, a member of Prince Holding Group, one of Cambodia’s largest business groups, has signed a Memorandum of Understanding with Cambodian Investment Management and Immobilier.com.kh.
Under the agreement, the three companies will collaborate on opportunities to attract inbound investment through Cambodian trust law. The three parties will work to co-create joint capabilities to attract investment by providing a seamless, reliable and transparent experience for foreign investors.
Prince Trust Board Director and Prince Holding Group Chief Financial Officer Michael Chiam chaired the MoU ceremony held at Prince Holding Group headquarters in the capital.
Anthony Galliano, CEO of Cambodian Investment Management, Tom O’Sullivan, CEO of Immobilier.com.khand Marc Wan, Legal Director of Belt Road Capital Management, attended the ceremony.
Chiam said, “We established Prince Trust to help foreign investors looking to venture into Cambodia by promoting trust law. With the strong credibility and market knowledge of Cambodian Investment Management and Realeastate.com.kh, we will be able to leverage our respective competitive strengths to meet the needs of foreign real estate investors considering Cambodia.
Prince Trust was set up to help investors looking to venture into Cambodia, he said.
Galliano stressed that the Kingdom’s remarkable handling of Covid-19 has prepared the market for a rapid recovery, and “the country has never been better placed for foreign investment”.
A trust is one of the mechanisms to help investors manage their assets, among other things, whereby the person creating the trust (called the grantor, settlor or trustee) transfers the purchased assets to the trustee, who then manages the trust for the benefit of the grantor and his assigns.
O’Sullivan said, “We look forward to being a pioneer in the industry again with Prince Trust and Cambodian Investment Management to educate the international investor market and local sellers on the Trust Law in Cambodia, which is a legal and transparent vehicle in facilitating real estate transactions for foreign investors.
Prince Trust is an independent provider offering a wide range of services for private clients, family offices, businesses and intermediaries.