This MoU signing is aiming to create a strategic collaboration among the five companies to mobilize fund, whilst urging real estate investments in Cambodia Canada and Portugal, member of European Union.
Phnom Penh, 18 February, 2022 – Zillennium Co., Ltd (Z1 Group), Z1 Financial, Century 21 Fortuna Investment, and Canada-based Mercan Group and its subsidiary Mercadia Cambodia have teamed up to create new investment opportunities in real estate to investors in Cambodia and Portugal and Canada. This collaboration will also play its vital role in attracting investors from the EU member states to inject their funds in Cambodia’s real estate market.
These five companies have announced a strategic collaboration, singing a Memorandum of Understanding (MoU) on 18 February, 2022 at Hyatt Regency Phnom Penh. The MoU were inked by Mr. Kuy Vat, Group Chairman of Zillennium Co., Ltd, Mr. Say Sokheng, Chairman and CEO of Z1 Financial, Mr. Va Vireak, CEO of Century 21 Fortuna Investment, Mr. Jerry Morgan, President and CEO of Mercan Group, and Mrs. Jasmine Dang, Mercan Group’s Regional Director for SE-ASIA region.
Z1 Group is one of the leading real estate marketplaces in Cambodia. It is a local conglomerate and Singapore-based Z1 Financial – a digital asset management and investment service company – is part of its business. Century 21 Fortuna Investment is a real estate service company in Cambodia; it operates under the franchise of Century 21 Cambodia. Mercan Group is an immigration consulting company based in Canada.
Deal signed on the strategic collaboration will pave the way for these firms to work together, bringing new investment opportunities for well-off Cambodians to invest or purchase property in Canada and Portugal.
Also, this partnership agreement will enable the local firms to seek and mobilize funds from investors in the EU member states to invest in Cambodia’s real estate projects.
Mr. Jerry Morgan, President and CEO of Mercan Group, said this partnership will enable Cambodian investors access to profitable investment projects. Under his company investments, according to him, 40 projects are investing in United State and 15 projects are elsewhere in Portugal.
Mr. Va Vireak, CEO of Century 21 Fortuna Investment, said Portugal is not only boasts its high potential for property investments, the country is also an attractive place to live in due to its security and modern health care system, and its living cost is one of the relatively low in the EU bloc.
Mr. Vireak is a first Cambodian certified international property specialist (CIPS). He has an extensive experience to facilitate property transactions overseas, especially namely in Canada, US and Portugal.
“Property investment in Portugal is attractive. Foreigners can secure loan up to 70% of the property value, and 30% for down payment. Interest rate is quite interesting and relatively low at 1.2 per cent per year,” said Mr. Vireak, adding that “this cooperation will also make it easier for Cambodian investor seeking partnership with others investors from the EU member state to invest in Cambodia’s potential sectors, especially in real estate.”
Attracting and encouraging foreign investments is in line with Cambodia’s government policy, particularly the new investment law – which took into effect recently – aims to boost foreign investment in a hope of driving its economy growth.
According to a report from the World Bank showed that construction and real estate sector has been the largest engine growth in recent years, contributing more than a third of Cambodia’s GDP growth in 2019. The sector mostly represented by foreign direct investment (FDI). FDI volumes in Cambodia was worth $3.4billion in 2019 and hit $3.6billion in 2020 – respectively.
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About Zillennium Co., Ltd
[Forwarded from So Phary]
Zillennium is a Real estate Marketplace, founded in 2018, by a young energetic team having over 90-year cumulative experiences in Real Estate and business management. Its vision aims to be a leading online real estate marketplace in term of convenient trading platform, value added support services and trusted investments partners.
For more details, please visit: https://www.zillennium.com/
About Z1 FINANCIAL
Founded in June 2021 in Singapore, Z1 Financial is an international company and exists to enable investors access to different investment portfolios in the growing real estate markets in Cambodia and Southeast Asia. We are a multicultural team with a group of over 25 talented and experienced professionals striving to provide the highest quality of investment services to investors and clients. We provide digital asset management and investment services to investors and clients through our investment platform to assist them manage their investment, access to funding and maximize their profit yields.
For more details, please visit: https://z1f.io/
About Mercan Group
Mercan Group is one of the largest and most successful professional immigration investment companies in Canada. Established in 1989 by Jerry Morgan, Mercan Capital Ltd. has become a leader in the field of immigration, and developed a reputation for integrity, honesty and efficiency. The Mercan Group of companies consists of five companies, each specializing in sectors of immigration, investment, education and foreign worker recruitment.
It has its head office in Montreal, Canada with regional offices across Canada, throughout Asia, Middle East, Europe, Africa and United States. With almost 30 years of experience in immigration, investment and recruitment consulting, Mercan Group has built an international network of offices in Canada, China, Philippines, India, Bangladesh, Vietnam, United Arab Emirates, and the United States, as well as agent offices in over 30 countries.
Mercan has helped bring more than 50,000 foreign immigrants to Canada of various origins. Moreover, through our recruitment companies, we brought almost 15,000 foreign workers in Canada, USA, the Middle East, Malaysia and the Caribbean islands. Lastly, under the investor immigrants category, Mercan has raised over $1.5 billion in foreign investment capital for various projects in Canada, USA and Portugals.
