CEO of Borey Peng Huoth: Borey market will continue rising in long run
CEO of Borey Peng Huoth: Borey market will continue rising in long run
When it comes to Boreys in Cambodia, everyone knows Borey Peng Huoth is built with international standards and has received an enormous amount of support from local and international customers.
With its success, Borey Peng Huoth is moving confidently into the future. How is the company advancing and what are the strategies behind their success? Siv Meng, a reporter for Post Property and the Phnom Penh Post, met with Oknha Thai Mengly, CEO of the Borey Peng Huoth Group, to discuss his achievements and his vision.
When did you start investing in this Borey? How did you start?
I started on this project in 2005, because at that time, Cambodia did not have any beautiful Boreys and only had flats and personal villas. When we travelled overseas many times, we studied Boreys in other countries and started Borey Peng Huoth, our first, on Street 598.
After the first project, we started another on National Road 1, where the of land was larger and we were able to secure the rights to 20 square kilometers. We have started many other projects.
The design of our Borey focuses on green spaces with big trees. 45% of the land on each of our Boreys is planted with trees and gardens.
Since the beginning, how many houses have you built and sold?
We have sold about 10,000 houses, with most coming from the project along National Road 1. This project is the biggest and consists of 7,000-8,000 houses which have already been sold. This can be called a satellite city.
Many local and international customers are drawn to your Boreys because of the design of the houses and the infrastructure of the buildings. What did you base your construction plan on?
Borey Peng Huoth always wanted to do something unique that was good for the country. That is why we focused on environment, green spaces and beautifully designed houses in our Boreys. We want Cambodians to feel proud that their own people can build good homes like in other countries. Our main target customers are middle-to-high income citizens.
What is the main factor behind your success aside from the design of the houses?
Borey Huoth always exceeds our customers’ expectations, meaning that we talk the talk and walk the walk. When we do, we often do it better than we promised. A good example is the luxury mall we have invested in near Borey Peng Huoth on National Road 1. We want this satellite city to have houses, places for leisure, malls, a school and Cho Ray Phnom Penh Hospital, which will also be a part of Peng Huoth. The Grand Star Project is also involved as well.
What is your view on the current Borey market?
I think there are no problems for Borey Peng Huoth. It will continue to grow because our country is growing. Therefore we will continue to invest more. We have invested a lot so far. We have a stable direction and will continue to branch out to even more places in the future.
Aside from the success, what has Borey Peng Huoth contributed to Cambodian society?
Besides profit, our Boreys always have Corporate Social Responsibility activities that we continually stay involved in. The most recent example is our $100,000 donation to KuntheakBopha Hospital last week. We have also contributed to public infrastructure projects such as schools, pagodas and several roads in order to contribute to the Cambodian government’s development.
There is a rumor that the name ‘Peng Huoth’ is an amalgamation of the names of the developers of the Borey. Is this true?
Yes, it is. Peng Huoth merges the names of my elder brothers, who are developers on this project. One of my brothers is named Peng and the other is named Huoth.
Are the sales of Boreys affected by the current political tension in the country?
The political situation has slightly affected our sales but it is not a big deal. For the long-term, it will not be a problem because we have come across a lot of experiences. Everything will be better after the election, and our Borey will always be a leader in the field.
Borey Peng Huoth is now investing in a condo project. Why is that? Is it because the condo market is better?
It is because Borey Peng Huoth mainly focuses on real estate projects. The condo project is also in the real estate sector, and we are developing all of them in responses to the needs of the market and customers.
