Prince Real Estate helps 804 underprivileged families in Chamkarmon District who were affected by the community outbreak on February 20.
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 request for assistance in combating the Covid-19 outbreak on February 20, 2021. This follows Chen Zhi's initial donation of US$3 million in December to assist Cambodia in purchasing COVID-19 vaccines.
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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, totaling $1.16 billion and accounting for 5% of GDP so far, Prince Group recognises that private businesses must also play a critical 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, demonstrating the Group's commitment to social responsibilities in Cambodia. In addition, 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 who have been working tirelessly across 33 locations in Chamkarmon District, an area badly affected 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 in Ong village, Prey Nob district, Cambodia, which is near the site of the US$16 billion Ream City project, which is being built 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 future needs.
Prince Group will continue to assist Cambodians by delivering essential supplies to those in need, implementing key community initiatives, and collaborating with socially responsible partners across the country in order to empower local communities.
Prince Real Estate is a well-known Cambodian developer. 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.
Prince Holding Group is one of Cambodia's largest conglomerates, with various divisions focusing on three main 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 some of Prince Holding Group's key business units in Cambodia. Prince Holding Group operates over 80 businesses in Cambodia through its subsidiaries, including real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverage, and lifestyle.
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 the government's pro-industry policies.
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. Prince Holding Group will continue to look for ways to play a significant role in Cambodia in the future, whether through partnerships or direct investments in key industries, for the benefit of Cambodians and the local economy.