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Oxley subsidiary acquires land plot in Cambodia for $8.3 mil

Michelle Zhu Published on Fri, Jun 30, 2017 / 5:36 PM GMT+8

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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.