BRED Bank Cambodia has signed a Memorandum of Understanding with leading borey developer, Borey Vimean Phnom Penh. Under the agreement, BRED Bank will provide home loans to buyers in a number of the prestigious developments being built by the company.
The bank will provide competitively priced finance for up to 80% of the property’s value over a tenor of up to 20 years.
“We’re delighted to be involved with Borey Vimean Phnom Penh,” said BRED Bank CEO, Mr. Nicolas Hollanders. “The company is one of the most exciting residential developers in the Kingdom with a superb reputation for building a diverse range of high-quality homes.”
“While our focus is on providing finance for prospective home buyers, we’re also hugely impressed by the fact that Borey Vimean Phnom Penh is developing thriving communities where homeowners have all the modern infrastructure they need right on their doorstep.”
Borey Vimean Phnom Penh is currently developing three major projects in the capital, building a wide range of impressive villas and shop houses at Mongkol Ratanak in Kandal Province, Mongkul Udom at Cheasophara Street and The Empire at National Road 6A, Khan Chroy Changva.
While this is the first time that BRED Bank Cambodia has worked with Borey Vimean Phnom Penh, Mr. Hollanders is very upbeat about ongoing opportunities with the developer. “The team at Borey Vimean Phnom Penh shares our positive vision for economic and social progress in Cambodia. Home ownership is an important part of that vision and we are delighted to be able to play a key role in turning people’s dreams into reality.”
