2023-02-09 05:51:54
Rumduol Smart Eco-City - Adaeng Land Co., Ltd

SMART ECO-FRIENDLY CITY

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.

Affordable housing and commercial office development are not able to accommodate the increased demand and need of the middle -class citizens that is growing. The Rumduol North and South Smart Eco City Development Plan.

Rumduol north

Rumduol North Development consists of 16.82 hectares of development land with 10.8 hectares is divided into 3 residential development:- 

1)Frangipani – Zero Lot Bungalow & Semi-D residential development – 2.54 hectares

2)Crossandra – Terrace House residential development – 4.53 hectares

3)Buttercups – Terraced House residential development. – 3.73 hectares

The rest of 6.02 Hectares of the land is allocated for commercial development consisting of Office Tower to support corporate offices for business in the region, Hospital/Medical Center to provide top medical care of the community and a commercial area with shop lots and F&B Centre to provide the needs of the community.

Rumduol south

Rumduol South Development is consist of 33.1 Hectare of development land with 18.3 hectares is divided into 4 residential development:- 

1)Saffron – Zero Lot Bungalow & Semi-D residential development – 6.25 hectares

2)Daffodils – Condominium residential development – 3.80 hectares

3)Jasmine – Terraced House residential development – 2.70 hectares

4)Daisy – Terraced House residential development – 5.80 hectares

11.05 hectares are allocated for Commercial Development which includes two blocks of 4 stories Central Market and a cultural Central, a semi-circular building consisting of a Shopping centre with a service apartment on top and a hotel with an event hall in the middle.

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.

Parties Obligations

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.

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.

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.

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)

Investment steps

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 adaenglandco@gmail.com for more information.

land investment option

option 1:

Investment only on the Land.  The Investor will invest USD 40 Million to purchase all the 142 Hectares of land under ADENG LAND Ltd, where Investor can
  1. Take hold of 49% of the shareholding of ADENG LAND ltd and 100% Management Control over the company through shareholder agreement.

  2. ADENG Development Ltd will give a Corporate guarantee to buy back or to get an investor to buy the Land for development at market price of the land after conversion which is equal to USD 80 Million within 1 year.

option 2:

ADENG LAND will purchase the Land and the JV Company will sign a Leasing agreement with ADENG Land for Leasing of 100 Years for USD 80 Million for the development of the project.

Project Investment Options

Option 1:

The Main investor can choose to invest on North or south Development or Both, depending on their capability and Interest. 

The investor or ADENG can the further partner with other specialised Investor on the Development of the Sub Development such as Commercial Building, Hospital, Shopping Mall/Retail, School, Landed Residential and High Rise Condo.

Option 2:

Investor can invest on the overall project and ADENG will develop the whole project, including, Design, Build, Manage, Operate, Market and Sales.

option 3

Specialised Investor can choose the development that is of interest to them and JV with ADENG or the Main Investor to Develop the Project.

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