Rumduol Smart Eco City Development is part of Kampong Speu Provincial Town Development to provide a holistic approach toward a sustainable development in an upcoming Industrial Hub for the whole nation. Providing a modern city that is smart and at the same time not detached from the nature.
Rumduol North Development consists of 16.82 hectares of development land with 10.8 hectares is divided into 3 residential development (Frangipani, Crossandra, Buttercups). The rest is allocated for commercial development.
Rumduol South Development is consist of 33.1 Hectare of development land with 18.3 hectares is divided into 4 residential development (Saffron, Daffodils, Jasmine, Daisy). 11.05 hectares are allocated for Commercial Development. 4.85 hectares of land is allocated to develop a Lake Garden with a 400m jogging track, with Brands Outlet and restaurants as well as a 25 stories Condominium that overlooks the lake and the whole development.
Any party wishes to enter a signed MOU to record the agreement in principle and obligations up to the establishment of a SPV together with all the necessary consents, approvals and licenses from the authorities of Cambodia subject to the provisions herein appearing.
Party A – ADAENG LAND CO., ltd
ADAENG LAND CO., LTD party shall be responsible in:
(a) Securing all governmental consents, approvals, licenses and permissions relating to the establishment of the Rumduol Smart Eco-City from the relevant authorities of Cambodia. This include all necessary land and construction alienation matters, and specified documents as follows:
i. The Ministry of Land Management, Urban Planning and Construction of Cambodia. The Ministry is responsible for governing land use, urban planning, construction projects, and for the resolution of land use conflicts.
ii. CDC Tax incentive and tax free of import materials.
iii. Local authority for conversion of land for property development subjection.
iv. Others ministries approvals, such as: Fire, environment, construction order approvals, and not limit to any others, as required.
(b) Purchase land, and rightful ownership, such as hard title of land, and transfer to SPV company.
(c) Set up a SPV company for operation, agreed on JV equity, terms of participation, responsibility and scope of works.
(d) Provide appointment and term of compensation agreement to your party.
Party B – Your party shall be responsible in:
(a) Provide detailed Project Proposal and assist to provide information for getting approvals mentioned.
(b) Provide financial statement to project.
(c) Introduce Financial and EPC Parties.
(d) Secure funding for this project.
(e) Provide assistance in securing EPC, audit and approve of design, construction implementation, material specification, schedule, costing.
(f) Provide business, operation and maintenance consultancy.
(g) Assist values contributing parities in forming an SPV and advise terms of collaboration.
(h) Option to own equity in SPV in case capital funding/investment raised from individual or corporation.
(i) Appoint EPC for the following:
i. Provide Engineering, Procurement, construction to this project.
ii. Provide maintenance support proposal
iii. Provide operation and management outline
iv. Provide training, operation procedure, and management consultancy.
Investment Proposal (Step and Expectation from Investor & Investment Options)
1.Investor review the Brief and decide if were to invest into the project.
2.Investor to issue an LOI to ADEANG Development Ltd (ADEANG) to shown an interest to JV with ADEANG to Develop the Projects.
3.Investor will also show Proof of Funds in a form of letter from their bank stating that they have the fund required USD 150 Million for north Development and/or USD 460 Million for South Development.
4.Upon receiving the proof of fund, ADEANG will then secure the land and submit the project proposal to CDC for approval and secure the Registration Certificate from CDC to certify the project as Qualified Investment Project or QIP.
5.Once ADEANG secure the QIP, Investor will then sign the JV agreement with ADEANG to form a new JV Company that will Develop the project.
6.ADEANG will purchase the land under ADEANG LAND and Lease the Land to the new JV Company for X Year for the development of the project. When the Development is completed, the land title will be transferred to the end buyer of the property (if they are Cambodian) by ADEANG on a separate agreement . If the Buyer is non Cambodian, then the Leasing of the 100 years will still apply (especially for the Commercial Development)
Note: If investor would like to have proxy (a Cambodian) to undertake the share holding in ADEANG LAND, Investor can hold up to 80% of the shareholding and 100% of the Management control. Contact ADAENG LAND via [email protected] for more information.
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