Making Way For Initiatives Controlling The Pandemic

Prince Real Estate provides daily necessities to 804 underprivileged Chamkarmon District families affected by the February 20 community outbreak.

Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest growing conglomerates, and Chairman Neak Oknha Chen Zhi have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian Government's call for assistance in combating the February 20, 2021 Covid-19 outbreak. This follows Chen Zhi's initial US$3 million donation in December to assist Cambodia in purchasing COVID-19 vaccines.

Furthermore, Prince Real Estate, a member of Prince Group, has distributed vital food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia affected by the February 20, 2021 Covid-19 outbreak, following in the footsteps of Prince Group and Chen Zhi.

While the Cambodian government has provided unprecedented assistance, accounting for 5% of GDP to date and totaling $1.16 billion, Prince Group recognises that private enterprises must also play an important role in the post-pandemic recovery.

The latest donation is part of Prince Group's overall environment, social, and governance (ESG) strategy for member companies. Chen Zhi's $3 million donation will help the Cambodian government reach its goal of vaccinating at least 80% of the population, or nearly 13 million people, as part of this strategy, reaffirming the Group's commitment to social responsibilities in Cambodia. Furthermore, Prince Real Estate has donated a total of 16,080 kilogrammes of rice, 804 boxes of noodles, 804 cartons of fish sauce, and 804 cartons of soy sauce to households, as well as 500 cartons of purified water and 200 cartons of soft drinks for 234 police officers working tirelessly across 33 locations in Chamkarmon District, an area that has been severely impacted by a Covid-19 outbreak.

“As a Group striving to improve the lives of local communities in Cambodia, it is our civic duty to partner with District Governor Theng So Thol and the Chamkarmon District Government. The community outbreak has affected the lives of many people in the district, and we believe that prompt and decisive action will make a key difference in ensuring a robust recovery for communities,” said Mr. Steven Wang, Chief Executive Officer of Prince Real Estate.

This is just one of many initiatives that Prince Group has organised in an efficient and timely manner over the last two years.

Last month, Prince Charitable Foundation, the charitable arm of Prince Group, distributed care packages to 500 families living in Ong village in Cambodia's Prey Nob district, near the site of the Ream City project, a US$16 billion, 843-hectare development on reclaimed land near the Sihanoukville International Airport. The Ream City project is set to transform the region, but Prince Group is keeping local communities in mind, holding consultations with local leaders to better understand their communities' future needs.

Prince Group will continue to assist Cambodians by delivering essential materials to those in need, implementing key community initiatives, and collaborating with socially responsible partners across the Kingdom in order to empower local communities.

About Prince Real Estate

Prince Real Estate is one of Cambodia's leading developers. Prince Real Estate, which was founded in 2015, has completed numerous projects in Phnom Penh and Sihanoukville. With real estate projects spanning 1 million square metres, it has contributed to the rapid transformation of urban Phnom Penh in recent years.

About Prince Holding Group

Prince Holding Group is one of Cambodia's largest conglomerates, with various units focusing on three core areas: real estate development, financial services, and consumer services.

Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, and Awesome Global Investment Group are among the key business units of Prince Holding Group in Cambodia. Prince Holding Group has over 80 subsidiaries in Cambodia that operate in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors, among others.

Rising foreign direct investment, free trade agreements with leading countries, and future participation in the Regional Comprehensive Economic Partnership are expected to be key drivers for the Cambodian economy, aided by government pro-industry policy initiatives.

Prince Holding Group has laid the groundwork to be a vital conduit for local and international capital by leveraging a network of industrial, business, and financial professionals across Asia. Moving forward, Prince Holding Group will continue to look for ways to play an important role in Cambodia, whether through partnerships or direct investments in key industries for the benefit of Cambodians and the local economy.

Reference reading - https://en.wikipedia.org/wiki/Prey_Nob_District