Oxley subsidiary acquires land plot in Cambodia for $8.3 mil

SINGAPORE (June 30): Oxley-Worldbridge, the Cambodia-based subsidiary of Oxley Holdings, has purchased a plot of land located on lot 17, Village 14, Sangkat Tonle Basak, Khan Chamkar Morn in Phnom Penh, Cambodia, from Khov Porseang for US$6 million ($8.3 million).

The plot has a freehold tenure with a land area of 1,200 sqm.

In a Friday announcement, Oxley says it intends to use the land for a showroom for its existing project, The Peak, for about three years until the project is completed. It plans to subsequently develop a commercial property on the land plot thereafter.

---

Related Stories

• Oxley Holdings to enter hotel management agreement with Langham Hospitality Group
• Oxley Holdings subsidiary to sell 30% interest in luxury hotel at Oxley Towers KLCC
• Merchants of Venice: Venetian properties bought via tender create controversy for Oxley's Ching

---