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CREA 2022: Agency of Choice Awards now open for pubic voting
CREA 2022: Agency of Choice Awards now open for pubic voting
June 6, 2022, 5:00 p.m.
Public voting for the Cambodia Real Estate Awards 2022 Agency of Choice Awards begins on the official Facebook page of the Cambodia Real Estate Awards.The Agency of Choice awards are the two awards within CREA 2022 that will be judged via public voting based on the number of likes and shares that each video of the nominees receive. The online voting runs until 25 March 17:00 GMT+7.Check out the CREA 2022’s Facebook page and listen to what each nominee has achieved and their journeys in Cambodia’s real estate sector. Don’t forget to show your support by liking or sharing your favourite candidates!CREA 2022 is the latest of the annual Cambodia Real Estate Awards organised by Realestate.com.kh in collaboration with the Ministry of Economy and Finance (MEF) and the Cambodian Valuers and Estate Agents (CVEA).CREA 2022 is an annual celebration recognising excellence in the Cambodia real estate industry, and aims to help further professionalise the industry by acknowledging and celebrating the leading agencies for their finest practices and efforts within the Kingdom’s real estate industry nationwide.Agency of Choice AwardNominees for the Agency of Choice Award 2022 include: C-Herald Property Service, Amatak Property Service, CBRE Cambodia, IPS Cambodia, Basac Realty, CPL (Cambodia Properties Limited), United Pacific Real Estate, Pointer Property, C7 Real Estate, IQI Cambodia and Century 21 Advanced Property.Gala dinner at Sofitel Phnom Penh PhokeethraThe Cambodia Real Estate Awards 2022 is set for 7 April 2022. All the shortlisted nominees and the broader real estate industry will be invited to join the Awards Ceremony and gala dinner at the Sofitel Phnom Penh Phokeethra. Over 500 attendees are expected to attend, including leading real estate agents, developers, government officials, lawyers, economists, investors, home buyers and more.Sponsors and media partnersThis event is made possible by Cambodia Real Estate Awards 2022 sponsors.Major Sponsors: B2B Cambodia, Panasonic, Hanuman Beer, foodpanda, KH Land, LM Car, Lukfook Jewellery, Midea Toshiba, Z1 FinancialOther partners: Holzer Floor, Sathapana Bank, People & Partners Insurance, Yugo Private Aviation, bodia, SCIA, Saniswiss, AIA-QLD.Media Partners: B2B Cambodia, Khmer Times, Fresh News, Thmey Thmey, American Chamber of Commerce, Property Area, and many more!Or follow us on Facebook at ‘Cambodia Real Estate Awards’Learn more about the Cambodia Real Estate Awards 2022
Levante Hybrid, Maserati’s first hybrid SUV
Levante Hybrid, Maserati’s first hybrid SUV
June 6, 2022, 5:00 p.m.
Faster. Greener. Unique. The second step in the Trident Brand’s electrification.Maserati Cambodia successfully launched the new Maserati Levante GT Hybrid last week at the Maserati Showroom. Business personalities joined the event and became part of the history of the Maserati Brand Evolution. Guests witnessed the arrival of this powerful new idea of the future in the Kingdom of Cambodia.After Ghibli Hybrid, Levante Hybrid is the second phase in Maserati’s strategy for electrification, which is projecting the Trident Brand into the futureLevante Hybrid is “Faster. Greener. Unique”: faster than diesel, more sustainable than diesel or gasoline, and unique in its specific characteristics.The Brand’s approach to hybrid propulsion focuses on both performance and fuel saving.Levante Hybrid combines the 4 cylinder, 2 litre engine with a 48-volt Hybrid system to recover energy during deceleration and braking.The unique Maserati sound is unchanged.Both the exterior and the interior are characterised by blue details, the colour chosen to denote the Brand’s hybrid models.Latest generation MIA (Maserati Intelligent Assistant) multimedia system based on Android Automotive contributes digital content and an innovative User Experience.Levante Hybrid has been available in Europe since June 2021Modena, Italy - The Future Is Now: Maserati continues to fuel the spark of electrification and projects it into the future, presenting the Levante Hybrid, the Brand’s first hybrid SUV.After Ghibli Hybrid launched last year, Levante Hybrid is the second phase in Maserati’s electrification strategy, which will involve the electrification of all its new models. A decision driven by the evolving market and the Brand’s determination to lead the field in every area of innovation. Maserati is innovative by nature.  With Levante, it continues to pursue the philosophy behind its entry into the world of electrification: the aim of improving performance while keeping true to the Brand’s values, raising performance and luxury to new heights. The result is a hybrid SUV that retains the distinctive sound of every Maserati.The arrival of the new Levante Hybrid thus expands the Maserati range, which is now even more competitive, innovative and responsive to the market's demands.Why Mild Hybrid?Levante Hybrid combines the 4 cylinder, 2 litre engine with a 48-volt Hybrid system that recovers energy during deceleration and braking. Staying true to its DNA, Maserati has chosen a hybrid solution that aims above all to maintain performance at exceptional levels, while also saving fuel. The results achieved are excellent: even greater performance with less fuel consumption.  The same brilliance of the engine and performance level of the gasoline V6 are retained intact but fuel is saved, making Levante Hybrid even more efficient than the Levante versions equipped with the gasoline or diesel V6 engines. Levante Hybrid offers the driver a car that is fun to drive, with the genuine Maserati sound. It squares the circle by delivering the smooth response of a 6 cylinder engine with the low-rpm torque of a diesel.  The hybrid system provides the same pickup as the diesel version together with the power output and acceleration of the 350 hp V6 gasoline engine, all combined with an impressive reduction in CO2 emissions, cut by 18% compared to gasoline and by 3% compared to diesel according to WLTP data.The Maserati 48-volt hybrid system has four parts: BSG, battery, eBooster and a DC/DC converter. The BSG (Belt Starter Generator) does the job of an alternator, recovering energy during braking and deceleration and charging the battery in the boot, which in turn powers the engine's eBooster. The reason for installing an eBooster on the car is to back up the conventional turbocharger, working in tandem with it, to sustain the engine's power output at low rpm. The hybrid system's operating strategy ensures that the eBooster is always available, via battery or BSG, whenever it is needed. The BSG and eBooster combination also provides an extra boost when the engine reaches peak rpm in Sport mode, at which point you can fully enjoy the performance benefits, while in Normal mode it balances fuel consumption and performance.In the Levante Hybrid, everything is designed to deliver the very best performance.  The hybrid car weighs less than the 6 cylinder engine equivalent, and above all has an even better weight distribution since the engine is front-mounted and the battery is placed in the rear, without compromising the load capacity and optimally balancing the vehicle masses. This design allows the Levante Hybrid to be even more agile and fun to drive.The internal mechanical components of the 2 litre 4 cylinder engine, already installed on Ghibli Hybrid, were developed through in-depth engineering work at the Maserati Innovation Lab in Modena, to achieve greater torque and enable the turbocharger and eBooster to deliver even more power. The engine's electronic control system also changes completely with a switch to a Bosch new-generation ECU. The engine is built at Termoli, Italy.Thanks to a maximum power output of 330 hp and torque of 450 Nm delivered from just 2250 rpm with value up to 90% since 1750rpm, the performance data of the new Levante Hybrid, only available with all-wheel drive, is very impressive: top speed of >240 km/h and acceleration from 0 to 100 km/h in 6 seconds.  Levante Hybrid’s power output is the same as that of the V6 gasoline version, and better than the diesel. It has more boost than the diesel version, with 165 hp/l (also higher than the gasoline version), and above all it slashes CO2 emissions to 231-252 g/km in the WLTP cycle, as well as a fuel-saving of more than 18% compared to the 350 hp V6 version while maintaining the same level of performance.The Maserati SoundLevante Hybrid is still in every respect the “Maserati of SUVs”, including its sound, which, in spite of the hybrid propulsion, is the distinctive growl of every Trident Brand model. The sound is achieved without resorting to amplifiers, by just tweaking the fluid dynamics of the exhausts and adopting resonators, tuned to deliver the trademark sound.  Anyone on board a Maserati hybrid must still hear the unmistakable roar of a Maserati engine.Levante Hybrid: Distinctive External and Internal Features The Levante Hybrid will be introduced in a new metallic tri-coat blue colour called Azzurro Astro; this colour will be available in the Maserati Fuoriserie program. Moreover, the Levante colour assortment will add for hybrid versions the Grigio Evoluzione, already presented for Ghibli Hybrid. Some details are in cobalt blue, the colour chosen to identify hybrid cars, already used by Maserati to denote the Ghibli Hybrid. On the exterior, blue characterises the three iconic side air ducts, the brake callipers (optional) and the C-pillar logo. The same blue colour reappears inside the car, specifically on the embroidered seams of the seats. For the first time, Levante Hybrid will feature a specific look with new logos. The oval logo will change, the C-pillar logo will comprise the Trident on its own, the GT badge will appear above the three side air ducts, and there will be new tailgate lettering. In the interior, the logo on the multimedia system will also be modified.Levante Hybrid Makes Its Debut in GT Trim The Levante Hybrid makes its debut in the new GT trim, with the GranLusso external styling features, and with the Sport Pack available as an optional.It will have chrome finishes on the front bumper and front grille, as already seen on Granlusso versions, and the GT badge will appear above the three iconic side air vents. GT interiors will be characterised by Standard Leather Grain A and Black Piano Trim. The full range of leather and trim upgrades of Levante will be available as optional.The Design of the “Maserati of SUVs”The design concept of Levante combines coupé lines with interior space for five people and exceptional aerodynamic efficiency. “The Maserati of SUVs” is instantly recognisable from a distance, thanks to its imposing grille. With MY21, the front had already been updated to feature the innovative front grille with tuning fork design. This front grille is chromed for the Hybrid version.Levante Hybrid is fitted with rear light clusters with the boomerang design, inspired by Maserati cars from the past and already introduced with the MY21 version, effectively refreshing the Maserati SUV’s image. To emphasise the boomerang shape, the clusters have been produced with a state-of-the-art 3K injection moulding technology, thanks to which the unit has been given a three-colour lens: black around the edge, red in the middle and clear in the bottom section.  The distinctive exterior identity is enhanced by a series of elegant chrome inserts in the front fascia, chrome front/rear skid plates, body colour rear spoiler, Cobalt Blue brake calipers (optional) and 19-inch Zefiro alloy wheels.InteriorThe interior includes the 8”4 central screen with improved resolution and graphics and above all with a visual effect that makes it look like a single curved screen with the air vents cut into it, enabling vertical reading of the whole display.In the lower part of the display, the Maserati script logo is screen-printed on the inside of the screen, for a three-dimensional effect.The instrument cluster, which includes a large rev counter and speedometer (still analogue but with updated graphics) on either side of a 7” TFT display, has a technologically advanced appearance. Effects are achieved by alternating glossy and matte blacks. The perimeter ring which contains the numbers is reflective glossy black, while the central ring containing the indicator lights is matte black. The resolution and graphics of the display between the rev counter and speedometer have also been updated; they now match those of the large central screen, with the introduction of gilded surrounds for a more distinctive, luxurious look.Q4 Intelligent All-Wheel DriveMaserati Hybrid is equipped with the architecture of the Maserati Q4 Intelligent All-Wheel Drive System, based on an electronically controlled multi-plate clutch, installed inside a transfer case linked by a driveshaft to the front axle. The system is designed to provide all the benefits of Maserati’s traditional rear-wheel drive even in low grip road conditions. The system acts by transferring traction to the front wheels on demand and with an immediate response.In normal driving conditions, the Q4 delivers 100% of torque to the rear wheels. On slippery road surfaces, or in the event of loss of traction at the rear (standing starts or very high-speed cornering), the system reacts immediately and transfers the necessary traction to the front wheels, altering the front/rear torque split from 0:100% to 50:50% in a matter of 150 milliseconds.Q4 Intelligent All-Wheel-Drive with variable torque setting is always active and responds immediately to any change in driving conditions. Although the change in torque split is imperceptible, the system’s activity can be monitored in real time on the display.A sophisticated algorithm specifically developed by the Maserati engineers provides real-time monitoring of an extensive range of dynamic vehicle parameters (wheel speed, steering and yaw angle, power output, speed and braking action) as well as wheel grip and driving style.By processing all this data, the system can maximise a dedicated grip profile for each single wheel, thus ensuring optimal management of the car’s dynamics to suit every possible road condition, at any time. The aim is to guarantee absolute driving pleasure without sacrificing safety or superlative performance.Limited-slip Self-locking Differential (LSD)The Levante Hybrid is equipped with a Limited-Slip Differential (LSD) on the rear axle. Installed as standard, it ensures optimal traction in all driving conditions. The asymmetric locking feature offers 25% lock-up under power and 35% under release.Torque VectoringThe torque-vectoring function, further developed for Levante, increases the SUV’s sportiness and driving pleasure in conjunction with the LSD and the Q4 Intelligent All-Wheel-Drive. When cornering, the system distributes more torque to the outer wheels by applying a slight braking force to the inner wheels.ChassisLevante originated with the aim of supplying the characteristics of a real all-terrain vehicle together with on-road performances worthy of a Maserati. Levante’s chassis has been designed to ensure exceptional rigidity, an extremely low centre of gravity and ideal 50:50 front/rear weight distribution while keeping curb weight down. Levante is a genuine SUV that also has the lines of a classic Maserati sports car, with great attention focussed on the elements in order to enhance performance. The chassis features extensive use of lightweight materials, for the dual purposes of reducing weight and maximising safety for the driver and passengers. The front of the chassis features an aluminum casting with a reinforced cross-strut which helps deliver outstanding rigidity in every direction, while the rear is made from heavier rolled steel to optimise strength and weight distribution. The doors, bonnet and boot are in ultra-lightweight aluminum. The car also features magnesium components (dashboard strut).Suspension ConfigurationThe suspension frame, wishbones, hub strut, towers and crossbeam reinforcement are all made of light aluminum alloy. The model retains the widely acclaimed air suspension configuration of the Ghibli, but with some significant modifications appropriate to an SUV: greater travel for off-road driving, new spring calibration to deal with rough usage, and more control of variations in camber and toe to respond to the different ride height settings. The air suspension essentially shares the same components and geometry with the other Levante models. Suspension frame, wishbones, hub strut, towers and crossbeam reinforcement are all made of light aluminum alloy, using a moulding technology that ensures greater rigidity without weight increase. In fact, in line with the tradition for Maserati racing cars, Levante has double-wishbone front suspension and state-of-the-art technology for optimal control and precise handling. The suspension towers are incorporated in the car’s chassis.The architecture of the double-wishbone system provides direct, precise steering. The multi-link rear suspension was chosen to ensure outstanding ride comfort and performance. To reduce weight, four links are in forged aluminum and one in cast aluminum.Both front and rear suspensions include an anti-roll bar, hollow at the front to reduce weight even further. A crossbeam reinforcement connects the rear of the suspension frame to the underbody to maximise structural rigidity.Air SuspensionLike other Levante versions, the Hybrid is fitted as standard with a state-of-the-art air suspension system. This sealed pneumatic system comprises four independent air springs, each with level sensor, two reservoirs mounted on the rear suspension cradle, a compressor with valve assembly, and ECU integrated in the Skyhook shock absorber control system. Apart from the obvious benefits such as enhanced ride comfort and active safety, the air suspension helps to save fuel and reduce CO2 emissions, since they allow the car’s set-up to be lowered when on the move, reducing drag at high-medium speeds.The car’s stability and set-up are further improved by the lower centre of gravity and the reduction in load transfers due to the exceptional stability even at the highest speeds. The air suspension system features six different ride levels (including Normal and Park).The driver can alter the ride height manually via the nearby rocker switch or by choosing different driving modes on the central console. The height variation from the lowest position to the highest is 75 mm – up to 85 mm with the Park level included. When the car is at a standstill, its set-up is lowered by 45 mm, meaning 10 mm more than in Aero 2 mode, to facilitate the driver and passengers when entering and leaving the vehicle. The suspension returns to Normal ride when a speed of 24 km/h is reached.The ride level varies in response to speed in order to maximise safety and handling. Thanks to intelligent mapping, the suspension automatically lowers the car at high speeds and only enables a high set-up (Off-Road mode) below pre-set speeds, typical of off-road driving.Adaptability to All TerrainsThe driving modes are designed to make Levante even easier and more exciting to drive. Normal mode is activated automatically when the car is started, while Sport and Off-Road – and Corsa on the Trofeo trim – are the driving modes that best express Levante’s dual personality, transforming it from a sporty, dynamic GT to a high-performance, comfortable all-terrain vehicle at the touch of a button.The driver can completely deactivate the Maserati Stability Program (MSP) and adjust the car’s ride level separately using the air suspension switch located above the hazard lights button. The front/rear torque split is identical in all driving modes: 0:100, which the system can modify to up to 50:50 in just 150 milliseconds.In Normal mode, the driver can choose between two different suspension set-ups: Normal or Aero 1 (-20 mm). The suspension set-up is the feature that best illustrates this car’s ideal trade-off between sportiness and comfort.When Sport mode is selected, the driver can retain the basic ride height or lower the car to level Aero 1. In this mode, the MSP offers a specific sport suspension setting and torque vectoring is active.When the driver presses the new Skyhook system button, the suspension rigidity is increased and the ride switches to Aero 1. The driver can also switch the car’s ride height from Aero 1 to Normal without exiting Sport mode or losing the sporty setting of the Skyhook suspensions.The off-Road mode can be selected by pressing the button provided or using the set-up rocker switch. The car’s ride height is increased by 25 mm and the Skyhook system’s response is modified. The car’s ride height can also be increased by a further 15 mm (Off-Road 2) to about 40 mm above the basic setting, or no less than 247 mm.Sound SystemAn 8-speaker, 180 W audio system is standard on  Levante Hybrid. The Harman Kardon Premium and Bowers & Wilkins Premium Surround Sound systems are available as options.Harman Kardon Premium Sound System with 14 speakers and a 900 W amplifier. The extra watts compared to the standard system, the black-finish grille pattern on the door woofers with HarmanKardon logo, and th 12-channel amplifier, together with a high-performance subwoofer, represent the best trade-off between sound clarity and performance.Bowers & Wilkins Ultra-Premium Surround Sound System for those who demand the finest hi-fi equipment. Maserati offers the Bowers & Wilkins Premium Surround Sound System, with 17 speakers, a 1,280 W amplifier and perfectly-configured QuantumLogic™ Surround.The Bowers & Wilkins Premium Surround Sound System features a central 100 mm Kevlar cone and three 25 mm tweeters, one at the centre of the dashboard and two on the upright. The front doors house a 165 mm woofer and 100 mm Kevlar cone mid-range speaker, while the rear doors each carry a 165 mm Kevlar woofer and 25 mm tweeter. The rear shelf has two 100 mm Kevlar mid-ranges and a 315x200 mm subwoofer.The system includes, as standard, the Clari-Fi function, which analyses compressed digital audio files such as MP3 files in real time and corrects any defects. Clari-Fi functions automatically with no particular settings required, modulating the way the sound is processed in response to the quality of the individual source signal.ADAS: Greater Safety with Active Driving AssistAlthough ADAS are valuable assets for ensuring a safer driving experience, Maserati also remains faithful to its core philosophy as a manufacturer of race-bred grand touring cars with exceptional dynamics capable of offering an unparalleled driving experience. Active Driving Assist is an evolution of Highway Assist, introduced with MY18. A “hands-on” function (the driver is required to stay in control of the car at all times), it is intended for use on any type of road as long as it is in good condition.While previous versions were only usable on highways, today it is available on any well-maintained road at speeds up to 145 km/h with the Adaptive Cruise Control system activated: it reduces driver fatigue and consequently enhances active safety by allowing the car to keep itself centred in its lane and to adapt its pre-selected speed in full autonomy.The system employs a radar unit and a forward-looking camera and works with the EPS to control the direction of the car. The multi-function camera detects horizontal road markings and calculates the distance and speed of the preceding vehicle. Highway Assist includes a radio that provides road information, and a ‘hands-on wheel’ detection system.The driver can override the system at any time.New Generation Multimedia SystemLevante Hybrid is equipped with the MIA (Maserati Intelligent Assistant) latest-generation multimedia system. The heart of MIA is the powerful Android Automotive operating system, which offers a completely new, innovative, higher-performing User Experience, with full personalisation to the driver's use preferences. Always connected with Maserati ConnectLevante Hybrid is connected, thanks to the new Maserati Connect program. Having the Maserati connected at all times enables an eye to be kept on the car's health, and Maserati Connect will alert the driver when a service is due, improving the customer care experience.Maserati Connect also enhances safety and security, with assistance in emergencies and in case of car theft. With a Smartphone or Smartwatch, drivers can always stay in contact with their Maserati thanks to the Maserati Connect App; this is also possible from home via their virtual personal assistant (Amazon Alexa & Google Assist).Maserati Connect enables the use of Amazon Alexa services onboard and the creation of a Wi-fi Hotspot inside the Maserati.Thanks to the integrated, connected navigation system, the driver always has the latest traffic information in real-time, as well as constantly updated maps.TECHNICAL SPECIFICATIONSLEVANTE HYBRIDENGINELayoutL4 Mild Hybrid with eBooster and 48V BSGDisplacement (cc)1995Bore x Stroke (mm)84 x 90Compression ratio9.5:1Maximum Power (hp @ rpm)330 @ 5750Peak torque (Nm @ rpm)450 @ 2250Fuel injectionGasoline Direct Injection GDIInjection pressure (bar)200Induction1 Mono-scroll turbocharger1 eBooster 48 VCrankshaftForged steelLubricationVariable displacement oil pumpTiming system1 chain-drive overhead camshaft with MultiairPERFORMANCEAcceleration 0-100 Km/h (s)6.0Top speed>240Braking distance from 100 to 0 km/h (m)36FUEL CONSUMPTION AND CO2 EMISSIONSWLTP combined cycle (l/100 km)TBC *Pending current certificationWLTP combined cycle (g/km)231-252 TRANSMISSIONGearboxZF eight-speed automaticGear ratios1st: 5; 2nd: 3.2; 3rd: 2.14; 4th: 1.72; 5th: 1.31; 6th: 1.00; 7th: 0.82; 8th: 0.64; Reverse: 3.46; final: 3.27TransmissionAll-wheel drive with limited slip self-locking mechanical rear differentialSUSPENSIONFrontDouble-wishbone, anti-roll barRearMulti-link, anti-roll barBRAKESFrontVentilated discs 345x32 mm, 2-piston floating calipersRearVentilated discs 330x22 mm, 1-piston floating calipersDIMENSIONS AND WEIGHTSFront/rear tyres265/50 R19L x D x H (mm)5005 x 1981 x 1693Wheelbase (mm)3004Front/rear track (mm)1631 / 1662Luggage capacity (l)580Fuel tank capacity (l)80Homologated weight (kg)2090
Prek Pnov joins outer districts in land appreciation
Prek Pnov joins outer districts in land appreciation
June 6, 2022, 9:50 p.m.
Prek Pnov may be behind compared to other districts, it does present opportunities once more land becomes viable for development. Supplied.Phnom Penh’s outward development is continuing to drive land prices up in the outer districts. According to Realestate.com.kh, Cambodia’s largest real estate classifieds portal, Meanchey, Chroy Changvar and Por Sen Chey property prices have been on the rise despite the slump over the past 2 years. Now, it seems Phnom Penh’s property boom is spilling onto another outer district.Prek Pnov, one of Phnom Penh’s northern districts, is seeing land prices rise recently. Realestate.com.kh observed that inquiries and sales activity in the area increased by 60% compared to the same period in 2021. The district is seeing undeveloped properties being converted to additional road infrastructure and various residential & commercial projects.Land prices in the Prek Pnov area vary depending on the location and what infrastructure is nearby. Some areas, especially those closer to Phnom Penh city proper have gone up as high as $800 - $1,000 per square metre while areas further out are now $300 to $500 each. Land next to smaller roads are also reportedly being offered anywhere from $100 to $200 per square metre.Prek Pnov shares the two major factors making outer districts poised as the next property investment destination within Phnom Penh. It is relatively close to the city centre and is home to many Cambodians with jobs and businesses in the core areas of the capital.Prek Pnov is additionally benefiting from the hastening development of Chroy Changvar. The peninsular district is seeing major developments such as the Morodok Techo National Stadium and the adjacent WorldBridge Sport Village, the designated venue for the upcoming SEA Games 2023 and ASEAN Para Games 2023. Large entertainment venues such as Garden City and Phnom Penh Safari are easily accessible from Prek Pnov via the Prek Pnov bridge and Win Win Boulevard.Chroy Changvar has also been designated as the location of the upcoming Svay Chrum Bridge which will directly connect Phnom Penh residents to the Areyskat area of Kandal Province - an area eyed by investors for further development in the coming years. It is increasingly apparent at this point that Prek Pnov will only likely benefit from the attention Chroy Changvar has been receiving.While Prek Pnov still lags behind other outer districts such as Chroy Changvar, Por Sen Chey and Meanchey in terms of earmarked projects, the district has plans for its lakes and swampy fields to be reclaimed and turned into land primed for development.Interested in looking for property in Prek Pnov? Check out our listings below:Prek Pnov Property Listings
Borey Kasen puts Khan Kamboul back on property seekers' radars
Borey Kasen puts Khan Kamboul back on property seekers' radars
June 6, 2022, 5:00 p.m.
Any property seeker worth their salt knows Phnom Penh’s property prices are higher the closer one gets to the centre. In fact, this has led both buyers and developers to look further out of the city for many better-priced homes.Districts like Chroy Changvar, Sen Sok, Por Sen Chey, and Meanchey have become popular choices for Cambodian families looking for landed homes. But these areas are seeing their prices rise year after year; if someone is shopping for a home in the next 3-5 years, they might have a harder time finding something that fits your budget today. Fortunately, Phnom Penh’s property market is constantly expanding with new places becoming more suitable for the modern Khmer family.Khan Kamboul, for example, is the westernmost district in Phnom Penh and can be accessed through National Road 4 and the recently rehabilitated National Road 3. Infrastructure developments in the district have pushed Khan Kamboul from a dust bowl area to now playing host to several commercial areas and residential projects a.k.a. Sprawling boreys especially made for Khmer families.The biggest among the boreys coming to Khan Kamboul is Borey Kasen. Borey Kasen Phnom Penh is built on an area of ​​about 30 hectares, located along National Road 3 (km. 15). Additionally, the project is only a short drive from Chom Chao roundabout and is only 10 minutes from Phnom Penh International Airport in Por Sen Chey.Borey Kasen Phnom Penh is developed with a comfortable living and potential business ventures in mind. These features are best seen in their King and Queen Villas - which are consequently their most popular units to date with many keen-eyed Cambodian families looking for high-quality homes booking a unit before prices pick up.Borey Kasen complements its high-quality homes with a premium suite of amenities including gardens, club houses, swimming pools, fitness clubs, cafes and a shopping center as complements to its outstanding residential offerings and making it a prime choice for Cambodians looking to live a comfortable life in a private neighbourhood.Borey Kasen’s quality homes are currently offering their units at an 18-month installment with 0% interest. The project developer is additionally offering loans of up to 80%. Curious about deals with Borey Kasen? Inquire now!Inquire about Borey Kasen
A fruitful future for Akriey Ksart - another Phnom Penh's spillover to Kandal Province
A fruitful future for Akriey Ksart - another Phnom Penh's spillover to Kandal Province
June 7, 2022, 3:32 a.m.
Phnom Penh, the capital of Cambodia, is located at the heart of the southern part of the Kingdom, within the entire surrounding of Kandal Province. Phnom Penh's continuous expansion of territory has always resulted in the new planning of the bordering areas in Kandal Province. One of the most powerful pieces of evidence is the construction of the biggest international airport in the Kingdom. According to the plan, the new airport, named "Techo Takhmao International Airport", spans in Kandal and Takéo provinces, covers an area of ​​2,600 hectares, and costs about US$1.5 billion. The construction is divided into three phases. The first phase will be completed in 2023, with an annual capacity of 13 million passengers. The second one will end in 2030, with an annual capacity of about 30 million passengers. The last phase will end in 2050. All together it is available for 50 million passengers annually.  The new airport is 10 km from Hun Sen Boulevard. The Ministry of Public Works and Transport plans to develop a new train route connecting the city centre to the new airport. On the other hand, it is also reported that OCIC has planned to build a highway for shuttle transport. The preliminary plan is to connect directly to the new international airport with Hun Sen Boulevard via Chbar Ampov, and another proposal is to connect the new airport to the third and fourth ring road. Whatever, it means that the new airport will not only drive residential and commercial developments in its proximity, but also promote the prosperity of the areas along the traffic network, of which related areas in Kandal Province are in the most direct benefits. Last month, Prime Minister Hun Sen confirmed that the government plans to use part of the Korean government loan to build a bridge connecting Phnom Penh City to Akriey Ksart Township in Kandal Province, and the estimated cost of the bridge is between US$40 million and US$50 million. This news has been followed by a land trading boom set off in some areas of ​​Akriey Ksart, with the price of land in some areas  reaching US$1,000/m². According to a report by CC-Times, the chief of Akriey Ksart Village said, “There are more and more companies buying and selling land, which has driven the price of land to rise, the price [of lands on riverside] will be much more expensive.”  However, the rational voice from  the real estate industry is that the current real estate prices in Akriey Ksart Township have risen slightly, but the "surge" of land prices will not occur. At the very least, Cambodia's real estate industry needs time to come back to vitality. The current price of land in Akriey Ksart is between $300 and $600 per square meter. Mr. Chrek Soknim, chairman of the Cambodia Real Estate Appraisal Association, predicts that land prices in Akriey Ksart may increase by between 10% and 20%.  Not long ago, the construction plan of the Cambodia-Korea Friendship Bridge was made, which consists of two sections. One end sets near the Night Market, while the other end sets in Akriey Ksart Township, with a middle support on Chroy Changvar peninsula beside Sokha Hotel. This cross-river bridge aided by South Korea is expected to be groundbreaking next year. A beautiful and spectacular cable-stayed bridge will not only be a key point of the Phnom Penh 2035 urban plan, it will also be one of the eye-catching landmarks.  Thus far, as a key part of the planning of Phnom Penh City, the first move has been made to get to the approach that Akriey Ksart Township, which is now in Kandal Province, will be included in the capital’s jurisdiction in the future. Once the bridge completes, large-scale commercial complexes, various residences, and characteristic tourism will naturally come along. Experts in the property industry have predicted that the riverside area of ​​Kandal Province and the area within the radiation range of Phnom Penh's No. 3 Ring Road will be replicated as another Chroy Changvar under the pushing of infrastructure.  Right now, this part of Kandal province across the Mekong River from Phnom Penh is still undeveloped land, spotted with three wetlands. There are a few leisure and vacation spots that Phnom Penh citizens like to go to, and each one has its own countryside speciality. Here are some cases in point.  If you take a boat from Diamond Island Ferry to get to Akriey Ksart Village, and then drive along the country road for about 15 kilometers, you will arrive at a place close to the convergence of the three lakes. Here it is - A resort named Jet's Garden Park in Vihear Sour Village, which is the most typical ‘playground’ that welcomes Khmer families up for 1~2 day excursion. Well, you can also enter Kandal province from the north along Road No.8. A few-dollar pass is affordable. There is a children's amusement zone, a mini zoo, a large swimming pool, football course, billiards, fishing, cycling and other options including food and drink. There are also guest rooms in the park, as well as special accommodations such as camping tents and car tents.  Not far from the Akriey Ksart ferry, there is a dairy farm called "Moo Moo", which is the first local milk supplier in Cambodia, supplying fresh milk to the citizens of Phnom Penh every day. This farm is an entrepreneurial project of young foreign talents co-operating with localized employees. The expatriate members of the farm speak fluent Khmer, and their product concepts and management are down-to-earth, so the farm's Facebook page has drawn a large number of loyal fans. It is conceivable that the now Akriey Ksart Village, Phnom Penh's future Akriey Ksart District, is extremely well-positioned to become the ‘backyard’ of Phnom Penh on the premise of retaining its inherent attractions. Residential developments around Akriey Ksart are currently few and far between. For example, Chaktomuk Cityview1 & 2 and Toul Sangke The Sanctuary City are two townhouse projects. The residences they provide are based on traditional Cambodian townhouses, and they attract Phnom Penh's buyers by adding fashionable design elements, supporting facilities to living experience. The Sanctuary City is located in the Akriey Ksart area and has relatively complete facilities. While, Chaktomuk Cityview in Svay Chrum is larger, adjacent to the Cambodia-Korea Friendship Bridge that has already been planned for direct transport between Svay Chrum and Chroy Changvar. Borey Chaktomuk City 2 Borey Villa Toul Sangke As the newest spot in the Capital Bay Area, Akriey Ksart District has a huge space of potential to attract different sectors of industries. The construction of the Cambodia-Korea Friendship Bridge in 2023 is meant to be another epoch beginning. Looking for property in Phnom Penh? Let us help!
CREA News Page 2024 ENG
Phnom Penh's riverfront is always the prime for properties
Phnom Penh's riverfront is always the prime for properties
September 23, 2022, 5:23 a.m.
As the most prominent online portal for Cambodia's real estate market, Realestate.com.kh data indicates that the Kingdom’s housing market is slowly recovering. Major investors are still purchasing properties in high-quality developments which could offer potentially high returns along the city’s riverfront. In the capital Phnom Penh, after the Cambodian property market was flat for two years, leading developers are returning to boost the market and are identifying the strategic properties along the Mekong, Tonle Sap, and Bassac Rivers.Since March 2022, among the most eye-catching projects in Phnom Penh are top-quality housing developments incorporated within the conceptual "Bay Area". Properties which are tagged under 'River View', 'Riverfront', and 'Waterfront' are associated with stylish and in-demand urban living and are being snapped up for their future potential. Within Cambodia and other cultures, there is a strong connection to water and major cities and towns in Cambodia are connected by the Mekong River. In Phnom Penh, construction and businesses have sprung up on either side of the Mekong’s banks. The neck-breaking advanced development and changes in Chroy Changvar, on Diamond Island (Koh Pich), and in Koh Norea, as well as the strategic city planning of Khan Chbar Ampov and Arey Ksat are clear indicators that the ‘bay area’ will attract affluent urbanites from within the country, and from overseas.High-end modern apartments and sky-high mansions have gradually become popular in the ‘bay area’ of ​​Phnom Penh, and most of them currently occupy excellent and panoramic riverside views. If you have ever visited the sites of these projects, overlooking the broad urban landscape ringed by rivers, you will appreciate their popularity and sense of serenity. With the accelerated infrastructure construction and development in the capital, bridges across the rivers are being built and more are planned, not only to alleviate the traffic but as a result of the expanding urban sprawl which is also opening up new exciting areas for development. These large bridges are all funded via a mix of local and other Asian government support from Korea, Japan and China and are aptly named ‘Friendship Bridges’. Once these new access routes and bridges are open to traffic, the value of a new land naturally rises - It's logical to identify that areas such as Arey Ksat village (within Kandal Province) are included within the territory of Phnom Penh City. Phnom Penh's ‘bay area’ economy looks set to thrive in all aspects.The charm of the riverside lies not only in the refreshing and natural environment, but the flows of the rivers in the capital flow north to south, which means the banks of a river face either sunrise or sundown, offering beautiful starts and ends to the day in tropical Cambodia.What is most appealing is that the tip of the Chroy Changvar peninsula, Diamond Island, Khan Chbar Ampov, and Arey Ksat together enclose the confluence of three well-known and vital rivers. This natural landscape offers an incredible and enviable view for many riverside residences. Those interested in buying fantastic and affordable riverside properties in Southeast Asia, specifically in Cambodia - shouldn't miss out on this great opportunity!See the most popular riverfront condominium projects below.MORGAN EnMaison Diamond Bay Garden Vue Aston The Peninsula Private Residences Wealth Mansion La Vista One   Looking for property in Phnom Penh? Let us help!
Phnom Penh suburbs offer lowest condo sale prices
Phnom Penh suburbs offer lowest condo sale prices
June 6, 2022, 5:00 p.m.
Phnom Penh’s outer districts are coming into form as suburban hubs in Cambodia’s largest city. Supplied.The development of Phnom Penh’s suburbs has been an ongoing endeavour for the city’s urban planners, developers and other investors long before the pandemic. Prices in the city centre and adjacent districts have risen steadily over the past half-decade, only seeing a slowdown during the height of COVID-19.But as Cambodia now leads most of its neighbours in terms of its population vaccinated, international tourists have started flying in and daily life is returning to as close as it can to pre-pandemic activity, attention is once again returning to the suburbs of the Cambodian capital.Realestate.com.kh, Cambodia’s largest real estate classifieds portal, observed that median sale prices for condominiums in the suburban districts of Chroy Changvar, Por Sen Chey, and Meanchey are relatively lower than other outer districts coming out of the pandemic.Chroy Changvar, for example, has been a hotbed of new developments and is often shortlisted for suburban living. According to Realestate.com.kh’s Market Trends, the median price for condos in the district hovers around $100,000 as of early 2022. For that price point, buyers can get a 2-bedroom unit with over 90 sqm of space in some projects in Chroy Changvar with a few thousand dollars left.Western-style condominiums are becoming more common in Phnom Penh’s property selection. Supplied.A few notable projects in the district include the massive WorldBridge Sport Village (WBSV), the first-ever sports village in Cambodia and the venue of the upcoming SEA Games 2023 and ASEAN Para Games 2023. The WorldBridge Sport Village is adjacent to the newly finished Morodok Techo National Stadium and its sports facilities, making it an ideal choice for homebuyers looking for an active lifestyle.On the southern end of Chroy Changvar, near the district's roundabout, is where the Peninsula Private Residences is located. The Peninsula Private Residences is a multi-awarded development having won the Best Interior Design and Best Architectural Design awards back in 2019 and consequently put Chroy Changvar back on the map.Other notable projects in the district include Morgan EnMaison, Wealth Mansion, La Vista One and Mekong View Tower 6.The airport district of Por Sen Chey has also been at the sights of many property developers and buyers. Located west of Phnom Penh’s downtown, the Por Sen Chey area is where the Phnom Penh International Airport is located and serves as a home to over 200,000 residents or 10% of the capital city’s population.While Por Sen Chey is more known for its shophouses and other landed properties, there have been condominium/apartments available new or for resale in the district. According to Realestate.com.kh, as of early 2022, the median sale price for condominium units in the district is around $90,000 for a 2-bedroom unit, making it a choice for residents looking to live on the western side of Phnom Penh.Then there is the Meanchey district. This district has been featured on previous editions of Realestate.com.kh’s market insights for its vast lands, large population and overall potential for residential and commercial development. As of early 2022, median sale prices for condos in the district is around $115,000, having picked up over the years since the completion of the Hun Sen Boulevard, development of several high-profile boreys, construction of the new airport in Kandal and the groundbreaking of AEON Mall 3, touted to be the biggest mall in the Kingdom when it opens sometime in 2023.Phnom Penh’s outward expansion will likely continue apace as local demand for suburban homes increases. Developers are now racing to meet this demand as the Ministry of Economy and Finance (MEF) announced earlier in 2022 that almost 4,000 projects, amounting to over $10.35 billion USD were approved in the first 11 months of 2021; 90% of which are classified as residential projects.Looking for property in Phnom Penh? Let us help!Article by:
National Road 11 development drives land prices up in Prey Veng
National Road 11 development drives land prices up in Prey Veng
June 6, 2022, 5:00 p.m.
National Road 11 passes through the countryside east of Phnom Penh. Supplied.Infrastructure projects are often generational endeavours, meaning that if a project starts today, its full benefits could only be realised a generation or two later. But Cambodia, despite the pandemic, continues to make strides in its national infrastructure and is pushing the calendar up in reaping the benefits.The most recent of these projects is the completion of National Road 11 (NR11). Realestate.com.kh, Cambodia’s largest online real estate classifieds portal, observed that land prices around the roadway have been picking up since it finished construction in late 2021.The construction of National Road 11 has an estimated cost of about $98.388 million US dollars, financed by the Commonwealth of the People's Republic of China. The road’s construction began December 2017 and took 44 months to complete. The road was inaugurated on December 6, 2021 by the Royal Government of Cambodia.National Road 11 was inaugurated in late 2021. Supplied.Much of the value of the land adjacent to the national road was between $40 to $50 per square metre. This price has nearly doubled to anywhere between $70 to $80 per square metre as of reporting. This jump in price is not uncommon in Cambodia’s fast-developing real estate sector.In 2019, the development of the 202 km-long National Road 3 started driving land prices in areas in crosses. For example, Chaom Chao to Kampong Toul Bridge - right at the city boundary of Phnom Penh - to well over $200 per square metre. Past Kampong Toul Bridge, land properties around $20 per square metre have risen to almost $80 as road infrastructure projects approach completion.National Road 11 connects economic corridors vital to Cambodia’s development plans. Supplied.The development of National Road 11 has attracted property developers and other land investors. There have been inquiries coming from warehouses, gas stations and other entrepreneurial projects over the months since being inaugurated.National Road 11 links two economic corridors in Cambodia, namely: National Road 6 leading to the Cambodian-Thai Border in Poipet and National Road 1 which leads to the Cambodian-Vietnamese Border in Bavet.NR11 stretches 96 kilometres from the National Road 1 intersection in Neak Leung in Prey Veng Province, just before the boundary with Kandal. NR11 then intersects with National 8 and ends with an intersection with National Road 7 further up north, allowing transportation vehicles to bypass the busy roads of Phnom Penh to get to National Road 6.National Road 3 and 11 are but a few of the many other national infrastructure projects the Royal Government is currently overseeing. Prices around these roads are expected to increase in price as more investments, particularly in manufacturing and logistics in Cambodia drive the need for a reliable national road network.Looking for property in Cambodia? Let us help!Article by:
Capital Gains Tax delayed for third time to January 2024
Capital Gains Tax delayed for third time to January 2024
June 6, 2022, 5:00 p.m.
The General Department of Taxation in Cambodia consistently exceeds yearly targets, giving the government the much-needed funds for social programs and infrastructure development. Photo from Khmer Times.Cambodia’s Capital Gains Tax (CGT) is delayed for the 3rd time to 2024. The postponement of the tax likely stems from the government’s record of waiving taxes and other fees to further foster economic activity, especially in the Kingdom's real estate market.Contrary to popular belief, Capital Gains Tax is not a new tax; businesses in the Kingdom have always paid this tax. The CGT that was supposed to go into effect recently was an expansion of its tax base, specifically covering individuals buying and selling properties.Prior to the pandemic, the surge seen by the construction and real estate sector was driven by high interest from foreign investors looking at Cambodian properties. In 2019, capital investments into construction amounted to over $9 billion and growing to over $10 billion two years later in 2021.Despite the pandemic, the country’s real estate market has largely remained afloat with much of the sector shifting their focus to the local market. According to CBRE Cambodia’s Fearless Forecast 2022, the compound annual growth rate for the CBD and inner city is around 10% over a decade while those of the outer suburbs went up as high as 20% over the same period.Phnom Penh’s urbanisation continues to expand on the back of the local market’s desire to have landed homes - a demand most apparent in the suburbs developing in the districts of Chroy Changvar, Sen Sok, Por Sen Chey and Meanchey.Interested in properties in these areas? Let us help!How does the Capital Gains Tax work?Cambodia's upcoming Capital Gains Tax is considered one of the most generous in the region. Photo from Khmer Times.Cambodia’s Capital Gains Tax is a flat 20% rate from selling a capital asset. The CGT covers capital gained from selling: Immovable Properties (real estate), Leases, Investment/Financial Assets, Goods (Licenses & Branding), Intellectual Property, and Foreign Currency.As mentioned earlier, the current CGT is an expansion of the tax from business to individuals. According to Realestate.com.kh’s overview of Capital Gains Tax, the CGT expands its tax base to Resident Taxpayers and Non-Resident Taxpayers. Persons falling into these categories are obligated to pay their CGT within 3 months of realising their gains.There are currently two methods taxpayers can employ when paying their dues. First is the Actual Expense Deduction Method and the second is the Determination Based Method.The Actual Expense Deduction Method takes the sales total proceeds and subtracts the expenses the seller made to get the Capital Gains Tax to be paid. These deductibles can be the purchase cost, consulting fees, registration tax, commissions, and even advertising. These expenses are taken from the final proceeds and 20% of the difference will be the Capital Gains Tax to be paid. This method is beneficial for property sellers who spent a lot on overhead/operational costs.The Determination Based Method takes 80% of the sales proceeds and subtracts them from the entire sales value. The difference will be the Capital Gains and 20% of it will be the Capital Gains Tax to be paid. This method is highly beneficial for property owners who bought low and are planning to sell high.Under the current version of the CGT, taxpayers are free to choose which method they feel will be a lighter tax obligation for them.Learn more about Capital Gains TaxImplementation of the CGT has been a long time coming and many developing nations have their own iterations. The CGT’s base expansion is expected to further add to the General Department of Taxation’s already impressive consistency of exceeding its yearly targets.Looking for property in Cambodia? Let us help!Article by:
Property Sector Ready to Rebound as Cambodia Leads COVID-19 Recovery
Property Sector Ready to Rebound as Cambodia Leads COVID-19 Recovery
June 6, 2022, 5:00 p.m.
Cambodia’s economy has reopened since November 2021, giving it a headstart in the regional race to attract foreign travel and business post-pandemic. Photo from Khmer Times.Cambodia now leads much of the world in its path to recovery from COVID-19. According to the Nikkei COVID-19 Recovery Index, Cambodia jumped from 22nd place in December to 2nd place in January, just behind Taiwan at the number 1 spot.Cambodia’s current success with its pandemic situation is largely attributed to its early management of cases: less than 500 reported cases and 0 deaths in 2020. The Kingdom only saw its first major outbreak in the Feb-20 incident and prompted the government to impose the first major lockdown in the summer of 2021.The Cambodian government has since been relentless in its vaccination efforts mainly backed by Chinese-made vaccines. In August 2021, Mekong Strategic Partners (MSP) released a report that projected Cambodia to reach 80% vaccination by Q3 2021, 8 months ahead of schedule.Aside from the weekly arrival of vaccines into the Kingdom, the MSP highlighted the systematic rollout of vaccination campaigns nationwide and the efforts made by the private sector, especially during the months following the Feb-20 incident.Cambodia’s high vaccination rate has been integral in reinstating confidence in the local economy. Supplied.However, the most essential factor in its pandemic control has been the noticeable low vaccination hesitancy from Cambodians. In addition to seeking out vaccines, a majority of the local population has taken it upon themselves to observe basic quarantine measures such as wearing masks, social distancing and sanitizing regularly.In October 2021, the Cambodian government hinted at reviewing its local quarantine measures as well as its foreign travel requirements. Many observers, including economists and the press, anticipated a step-down or two from the current 14-day requirement. To the surprise of the same onlookers, the government eventually removed quarantine requirements for fully-vaccinated travelers and did away with the pricey $2,000 quarantine deposit in November 2021.The new requirements for foreign travel to Cambodia were made far simpler only requiring proof of vaccination, a negative RT-PCR test 72 hours prior to departure and another negative test upon arrival at the port of entry in the Kingdom.Naturally, a declaration of full reopening was made in November 2021, given the streamlined requirements and gave Cambodia a headstart in the regional race to welcome foreign travelers and business once again.A Market Primed for ReboundCambodia’s banking and financial sector has served as a bulwark for the Kingdom’s economy throughout the pandemic. Supplied.The WorldBank and the Asia Development Bank both forecast a ~5% GDP growth for Cambodia in 2022, mainly attributed to a strong financial sector and the economy reopening in late 2021.Construction and real estate - key drivers of the massive growth in the Kingdom - are similarly seeing signs of recovery in early 2022. In December 2021, the Ministry of Economy and Finance announced almost 4,000 projects, amounting to over $10.35 billion USD were approved in the first 11 months of 2021.Nationwide infrastructure projects have also been ongoing throughout 2020 and 2021. According to the latest update from the Ministry of Public Works and Transport (MPWT), the Phnom Penh-Sihanoukville Expressway is 80% complete as of January 2022 and is expected to open to traffic in March 2023.According to the National Bank of Cambodia (NBC), there is cause for optimism for the construction and real estate sectors in 2022. NBC cites a pick-up in domestic economic activity and investment since the economy reopened in late 2021. The NBC adds that rising domestic revenue and local interest will be the key drivers of the Kingdom’s property sector growth.Looking for property in Cambodia? Let us help!Article by:
Cambodia Real Estate Awards 2022 set for April 7 at Sofitel Phnom Penh
Cambodia Real Estate Awards 2022 set for April 7 at Sofitel Phnom Penh
June 6, 2022, 5:00 p.m.
The Cambodia Real Estate Awards 2022 will be held at the Sofitel Phnom Penh Phokeethra. Supplied.The Cambodia Real Estate Awards 2022 (CREA), organized by Realestate.com.kh in partnership with the Cambodian Valuers and Estate Agents Association (CVEA) and the Real Estate Business Regulator (Under the Ministry of Economy and Finance) is set for this coming April 7, 2022 in the Sofitel Phnom Penh Phokeethra.Since 2018 the annual event has celebrated the very best of the real estate industry’s agents and agencies and awarded their efforts in providing quality products & professional services to Cambodia’s fast-expanding market. This year will be the first year that property developers and developments have been included in the CREA through categories such as Condominium Developer of the Year, Borey (Landed Property) Developer of the Year, Commercial Developer of the Year, and of course, Developer of the Year.“Of course, property developers play a major role in the real estate industry, so it was only natural to add developer categories to the Cambodia Real Estate Awards' ' said Tom O’Sullivan, CEO of Realestate.com.kh. '' Despite the challenging times we faced during the pandemic, the market saw several projects launch over the last two years whilst others reached the handover stage - instilling continued confidence in the market”“We have been overwhelmed by the number of entries this year, with over 30 companies already entered, with more to come. So in terms of the number of entries, this is certainly the most successful real estate awards in Cambodia to date. In addition, we already have over 300 seats booked for the 7th of April and selling fast, so I do encourage anyone looking to sponsor or attend to get in contact as soon as possible as the event will sell out” “As the organizer of the CREA, Realestate.com.kh is looking forward to seeing agents, agencies, property developers and more during the ceremony as a celebration of all the achievements made during some of the hardest times in the industry globally, on April 7 at the Sofitel Phnom Penh Phokeethra” Tom said.The awards are sponsored by Panasonic, Hanuman Beverages, foodpanda, KH Land, LM Car, Lukfook Jewellery, Midea & Toshiba, Sathapana Bank, People & Partners Insurance, Yugo Private Aviation, Bodia Spa and many others. The annual Cambodia Real Estate Awards is considered the premier property awards in Cambodia. And with the excitement building up for the event, interested brands looking to expand their reach are encouraged to secure the last few remaining sponsorship slots for the CREA 2022.Sponsor the Cambodia Real Estate Awards 2021-2022Key ContactsCambodia Real Estate Awards - Sponsorship ContactsName: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962 Developers & Development Awards Entry ContactsEnglish & KhmerName: Khiem Darina Stefania (Steff) Position: CREA Developers & DevelopmentEntry Facilitator & REAKH Relationship Manager Email: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333 ChineseName: Taing Muyngy (Muyngy) Position: CREA Developers & Development Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379Agency Awards Entry Contacts English & KhmerName: Tin Mashington (Ton) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: tin.mashington@realestate.com.khPhone: +855 (0) 81 305 205
Orkide partners with Realestate.com.kh for The Royal Condominium handover
Orkide partners with Realestate.com.kh for The Royal Condominium handover
June 6, 2022, 5:00 p.m.
Realestate.com.kh and Orkide Development Co., Ltd, “Orkide” partnered up to showcase the Royal Condominium in Sen Sok to both the local and international markets. Supplied.Orkide Development Co., Ltd, “Orkide”, one of the biggest property developers in Cambodia, signed on Realestate.com.kh, the largest real estate classifieds portal in the Kingdom, as sales and marketing partner for its latest luxury project: Orkide The Royal Condominium.Orkide The Royal Condominium is a sprawling development in Sen Sok district. This large, upscale residential project consists of six 18-story towers offering nearly 2,000 residential units. The project’s crowning glory: The Royal Garden covers an area of ​​3.2 hectares and has 12 different areas, including artificial sandy beaches, green gardens, playgrounds etc., with more than 100 facilities, including swimming pools, luxury gyms, steam rooms, saunas, walking paths, and bicycle paths.Orkide’s sprawling condominium complex holds no punch in delivering a bevy of top-class amenities in a market eager for a premium city life. Supplied.Orkide The Royal Condominium sits at a convenient location in Sen Sok district along Street 2004. Located in the mid-point between the Phnom Penh International Airport and the capital city’s central business district, residents of Orkide the Royal Condominium enjoy modern urban staples such as international schools, wet & dry markets, supermarkets, and a wide selection of shops, restaurants and cafes on top of the class-A amenities easily accessible within the complex.The Royal Condominium will have a total of 6 residential towers connected by the 3.2 hectare Royal Garden. Supplied.“Orkide Development Co., Ltd is a hallmark of Cambodian property development.” said Tom O’Sullivan, CEO of Realestate.com.kh. “We’ve had a working relationship with them for years and their projects that have entered our events notably attracts strong interest from local and international property buyers”The Royal Condominium boasts several swimming pools and other open areas all comfortably located within the complex. Supplied.Orkide The Royal Condominium is the latest addition to Orkide’s portfolio of luxury properties. As a leader in developing modern residences in the Kingdom, the Orkide Development Co., Ltd has successfully developed high-end residences such as Orkide The Botanic City, Orkide The Royal, and Orkide The Grand. Other upcoming projects include Orkide The Pochentong and Orkide The Canal.Orkide The Royal Condominium’s handover comes at the right time as Cambodia’s successful pandemic management is gradually reintroducing confidence on multiple fronts of the market. “The beginning of 2022 is off to a good start,” noted Tom O’Sullivan. “The Cambodian real estate market has increasingly been catering to the needs of the Khmer market and consequently strengthening interest in the property sector.”Interested? Orkide is running a 10% down payment offer with the option to move in right away. Supplied.And with the economy poised for recovery, the Orkide Development Co., Ltd is leading property developers in opening its new premium residential project alongside the larger economy. As a way to celebrate, Orkide The Royal Condominium is currently offering buyers a 10% down payment option with the option to move in right away.Learn more Orkide The Royal Condominium
Upcoming road projects to realize southern corridor’s economic prospects
Upcoming road projects to realize southern corridor’s economic prospects
June 6, 2022, 5:00 p.m.
Completion of the Phnom Penh-Sihanoukville Expressway will reduce travel time and transportation costs between the two cities. Photo from Khmer Times.Cambodia’s national infrastructure development for its southern economic corridor is well underway with a key project approaching completion and another renovation project starting this 2022.According to the latest updates from the Ministry of Public Works and Transport, the Phnom Penh-Sihanoukville Expressway is 80% complete as of January 2022. The expressway is expected to be opened for public use by March 2023.The Phnom Penh Sihanoukville Expressway is a major infrastructure project spanning 190 km and is being constructed to the tune of over $2 billion. The massive project is funded by a public-private partnership between the China Road and Bridge Corporation (CRBC) and the Chinese government. Work on the expressway broke ground in 2019.Sihanoukville is one of the major population centres in Cambodia and is home to the country’s only major deep-sea port. The seaport is managed by the Sihanoukville Autonomous Port (PAS) and is one of the main gateways for Cambodian exports and imports. In 2021, the PAS oversaw the movement of $2.2 billion worth of imports, up by 42.75% compared to 2020’s figures.The Sihanoukville seaport itself is earmarked for further development this year. According to the Sihanoukville Autonomous Port, the first phase (out of five) is set to begin in mid-2022 and will increase the port’s capacity to handle larger vessels up to 60,000 tons. The first phase’s target completion date is between 2023-2024.The country’s southern economic corridor runs through 5 provinces. Supplied.Additionally, the new expressway will alleviate the traffic congestion commonly experienced on National Road 4. Also known as NR4, the national highway is presently the main artery connecting Sihanoukville and Phnom Penh.In January 2022, H.E. Sun Chanthol stated that the remaining bidding procedures for NR4’s renovation are scheduled to be completed by March. The Minister added that officials are accelerating the process so renovations and expansions can begin as early as this year.National Road 4 spans 232 km and runs parallel to the upcoming Phnom Penh-Sihanoukville Expressway. Goods and services currently traveling between the two cities take around 5 hours on National Road 4. Completion of the expressway will significantly cut travel time to just 2 hours and also reduce the cost of transportation between the country’s deep-sea port in Sihanoukville and the country’s main economic hub: Phnom Penh.Looking for property investments in Cambodia? Let us help!
Chamkarmon tops 2021’s most searched district in Phnom Penh
Chamkarmon tops 2021’s most searched district in Phnom Penh
June 6, 2022, 5:00 p.m.
The year 2021 has been a tumultuous year for Cambodia's property market but that has not deterred investors from looking up deals on Realestate.com.kh. Supplied.Much of the real estate market would agree that it has seen better days than 2021. The year marked the only major spike in cases and forced much of the country, especially Phnom Penh, into a lockdown. Despite the difficulties, the Cambodian real estate market managed to continue its activity by focusing its marketing efforts towards the local market.Realestate.com.kh, Cambodia’s largest real estate classifieds portal, hosts over 30,000 property listings from bare land, shophouses, villas, borey properties, condominium units, office spaces, and mixed-use developments from all over the country. And given Phnom Penh is at the epicenter of the Kingdom’s continued market activity, we are taking a look at which districts in the capital city have received the most attention from online property seekers in 2021.Browse new developments in CambodiaChamkarmonThe south-central district of Chamkarmon is one of the biggest and more developed districts in the capital. The district was the most searched area over 2021 for its proximity to both the Central Business Districts (Daun Penh and BKK1) and upcoming areas like Meanchey and Chbar Ampov.Chamkarmon is also known to have a variety of new and resale properties ranging from shophouses to condominiums. This makes it a hub for property buyers and renters to hunt for great deals while not being too far away from the city centre.Most search properties (sale and rent) in Chamkarmon:Apartments/CondosLanded housesCommercial propertiesLand propertiesIts numerous shops, restaurants, cafes, schools, markets, malls and even offices make it an ideal area for both locals, expatriates and tourists to stay in/visit. Chamkarmon strikes a good balance between location and price, solidifying its hold on the top spot for 2021’s most searched district for properties in Phnom Penh.Beoung Keng KangBoeung Keng Kang (BKK) comes a close second to Chamkarmon. This other south-central district was once part of Chamkarmon but has since been made its own district in 2019. Much like its former parent district, it hosts a variety of properties available for sale and rent. Also worth noting that much of the attention in BKK is directed towards the BKK1 subdistrict.Its subdistrict of BKK1 is considered to be the other CBD in Phnom Penh for its many offices, embassies, shops, restaurants, cafes, and premium high-rise residential properties.Most search properties (sale and rent) in Boeung Keng Kang:Apartments/CondosLanded housesCommercial propertiesLand propertiesMany often forget that BKK is much larger than BKK1. Other districts such as BKK2 and BKK3 offer their own selection of properties close to downtown and adjacent to developing districts like Meanchey, Por Sen Chey and Sen Sok. Throughout 2021, the BKK district traded places with Chamkarmon as the most searched district for properties in Phnom Penh.Daun PenhDaun Penh, the de-facto CBD of the city, is the most developed district in Phnom Penh. It is where most banks and multinational companies are headquartered. Major tourist attractions are also located in Daun Penh such as the Royal Palace and the Riverside area, frequented by many tourists and expatriates.Despite its seemingly business façade, there are still residential properties in Daun Penh in the form of shophouses and villas scattered throughout the district supported by several markets. It is worth noting that these properties are now considered one of the most expensive in Phnom Penh.Most search properties (sale and rent) in Daun Penh:Apartments/CondosLanded housesCommercial propertiesLand propertiesDaun Penh prices are among the highest in Phnom Penh due to its central location and complete set of urban amenities. It has largely remained in the Top 5 for most of 2021, only losing its spot during the height of the pandemic.Chroy ChangvarChroy Changvar, one of Phnom Penh’s peninsular districts, is touted as the upcoming district in the next 5 years. It’s a hotspot of residential and commercial developments driven by Phnom Penh’s outward expansion.But the attention Chroy Changvar enjoys today wasn’t always there. Just half a decade ago, the peninsular district was just another rural area with very little going on. But as prices in central Phnom Penh rose and the suburban lifestyle started to take hold, the district received significant attention from buyers and property developers resulting in considerable price increases in Chroy Changvar.Most search properties (sale and rent) in Chroy Changvar:Landed housesApartments/CondosLand propertiesCommercial propertiesChroy Changvar’s promise of development is all well and good from a property investment perspective. But it is also worth noting that Chroy Changvar enjoys a natural breeze as it's a peninsular district flanked by the Tonle Sap and Mekong Rivers. And this riverside view is something that will keep Chroy Changvar on the map of Phnom Penh’s suburban residents for years to come.Sen SokSen Sok is one of the largest districts in Phnom Penh in terms of land size and is notable for a district seeing the most development in terms of residential and commercial projects in recent years. Data from Realestate.com.kh shows that it is the district with the highest number of searches for landed property in Phnom Penh.Most search properties (sale and rent) in Sen Sok:Landed housesApartments/CondosLand propertiesCommercial propertiesSen Sok’s vast flatlands have made it one of the hottest development spots in the past few years as made evident by boreys, condos, commercial centres, and shopping malls popping up in the area. The chief example is the AEON Mall 2, the largest purpose-built shopping mall in Cambodia to date.Property prices in Sen Sok, while relatively lower than more centrally located districts, have started picking up due to the continued development in the district.Looking for property in Cambodia? Let us help!
“Steady as it goes” for Cambodia’s real estate & construction in 2022
“Steady as it goes” for Cambodia’s real estate & construction in 2022
June 7, 2022, 4:30 a.m.
Phnom Penh is the epicenter of the Kingdom's construction and real estate growth for much of the decade. Supplied.Cambodia’s construction and real estate sectors may have a better cause for optimism in 2022. Earlier in January, the National Bank of Cambodia (NBC) released a report on the bank sector’s macroeconomic progress and outlook for 2022.According to NBC’s report, the global economy is expected to grow at different rates, depending on how effective COVID-19 prevention measures are in different countries. At present, the omicron variant, though less severe in terms of symptoms, is noticeably more transmissible; stoking fears of lockdowns that may stifle economies once again.Despite omicron’s presence, NBC’s report highlights promise from Cambodia’s exports, namely in garments and textiles, as well as new launches in producing electronic parts and bicycles to add to the Kingdom’s export portfolio.Additionally, Japanese mall developer AEON is mulling to build a 30,000 sq meter logistics center in Sihanoukville in 2023. The gigantic center will offer import storage, customs clearance and support for cross-border online retail.Ford is investing $21 million dollars to manufacture its SUV lineup in Cambodia. Supplied.According to a report by the Khmer Times, US automaker Ford has invested $21 million in an assembly line in Cambodia for the production of the Ford Ranger and Ford Everest. The assembly line is currently under construction and will begin production in April.The report further highlights the importance of the Regional Comprehensive Economic Partnership Agreement (RCEP), an agreement between the 10 ASEAN Member States and the Free Trade Partners (Australia, New Zealand, China, South Korea and Japan) entered into force earlier this year. This will provide opportunities for trade in services and goods, investment and e-commerce.Cambodia’s construction and real estate sector is also expected to see a recovery albeit a conservative one. NBC cites a pick-up in domestic activity and investment since the economy largely reopened in the latter half of 2021. Rising domestic revenue and consequent investment will be the key drivers of the Kingdom’s property sector growth.It is worth noting that the local interest for properties has kept real estate activity going in Cambodia. Landed properties have noticeably become more popular, especially those offered in the affordable and mid-range of the market’s spectrum.In an earlier report by Realestate.com.kh, Cambodia’s largest real estate classified’s portal, a sizable section of the website’s traffic has been searching landed properties in Sen Sok and new developments Chroy Changvar - two districts that are seeing continued growth despite the pandemic. That is not to say condominiums have been completely overtaken by landed homes. According to Realestate.com.kh, the search for residential properties (condos and landed homes) in core areas of the city such as Chamkarmon and Boeung Keng Kang still topped the popular site’s searches in 2021. How regular discounts are offered and the overall decrease in average quoting prices are still driving interest from local middle-class and international buyers.Given difficulties faced in the first half of 2021, Cambodia’s growth for the previous year is only expected to be around 2%, according to the NBC as well as the WorldBank and Asia Development Bank. However, all three banking institutions project ~5% growth for Cambodia in 2022.Looking for property in Cambodia? Let us help!Article by:
"Bay Area Economic Circle" starting to form in Phnom Penh
"Bay Area Economic Circle" starting to form in Phnom Penh
June 7, 2022, 6:29 a.m.
A rendered image of the Svay Chrum Bridge connecting Areyksach in Kandal to Metro Phnom Penh. Supplied.On January 3, 2022, South Korean Ambassador to Cambodia, Park Heung-Kyeong, joined Prime Minister Hun Sen in the groundbreaking ceremony of National Road No. 48 - a coastal road connecting Preah Sihanouk and Koh Kong.The National Road 48 was funded by the Republic of South Korea to the tune of US $78 million and is being constructed by Ilsung & Hanil Joint Venture.During the ceremony, the South Korean Ambassador revealed that the South Korean government is exploring the possibility of a bridge connecting Phnom Penh to the Areyksach area in Kandal province.The Areyksach area is located on the bank of the Mekong River in Kandal Province, east of Phnom Penh City. It is opposite Koh Pich (Diamond Island) and is a riverfront area with great development potential for its wide and flatlands. According to the urban master plan issued by the Phnom Penh Municipal Government, the Areyksach district will be under the jurisdiction of Phnom Penh in the future and is earmarked to be a satellite city with large shopping malls, modern residences, office buildings and leisure and entertainment.The South Korean government intends to build a bridge to both improve Phnom Penh’s economic outlook and strengthen the friendship between the two countries. According to a report by the Khmer Times, the technical teams carried out research on site selection and construction plans, and are considering building the friendship bridge from either Chroy Changvar or Daun Penh’s Riverside.“We are finalising the details of the bridge project. After that, we will open bids for the construction of the bridge. I think the bridge could be built in 2023,” said Sun Chanthol, Minister of Public Works and Transport.Many residents of Kandal province presently use ferries to get across the Mekong River into Phnom Penh. Building a bridge and physically connecting the population centres is expected to alleviate traffic congestion and make travel much more convenient."Bay Area Economic Circle" starting to form in Phnom PenhCross the Mekong as part of the city's expansion plans would be a landmark achievement for Phnom Penh's developers and urban planners; joining other developed cities in incorporating rivers into its metropolis. Supplied.Phnom Penh’s outward expansion has been an ongoing trend in the city's property sector. In the past few years, the capital city has seen Sen Sok develop into an urban centre with plenty of residential choices and supporting commercial areas. The district of Meanchey is similarly seeing interest since the completion of the Hun Sen Boulevard in 2018 and the construction of AEON Mall 3, soon to be the largest purpose-built shopping mall in Cambodia. The southern district is now the site of several sprawling boreys from the Kingdom’s most well-known developers.The Cambodia-South Korea Friendships Bridge, to be known as the “Svay Chrum Bridge”, opens up the potential for an eastward expansion of Phnom Penh. Chroy Changvar, one of the shortlisted sites for the upcoming bridge, has been a hotspot of borey and condominium projects in the past few years. Key developments such as Morodok Techo National Stadium and the adjacent WorldBridge Sport Village are expanding the possibilities of where Phnom Penh residents can settle down.Koh Norea Satellite City is one of the largest developments Phnom Penh is seeing to date. Supplied.On the southern end, the Chbar Ampov district is a major population centre home to almost 170,000 residents. It hosts several residential and commercial developments, as well as a new bridge connecting Koh Pich and Chbar Ampov known as the Koh Norea Bridge. The landmark development in this district, however, is the Koh Norea Satellite City, being developed by the OCIC to the tune of US $2 billion. The satellite city has reached its 30% completion milestone and stands directly opposite the Areyksach district in Kandal, only separated by the Mekong.Current development plans are pointing to an eastward expansion of the capital city. Future plans of incorporating Areyksach into Phnom Penh serve as an endpoint for what appears to be a continued pincer movement coming from the Chroy Changvar in the north and Chbar Ampov in the south. At present, the infrastructure plans mentioned above are still in different stages of development. However, based on what we have seen from Cambodia’s developers and planners, such undertakings are only a matter of time.Looking for property investments in Phnom Penh? Let us help!
BHCC Development to build 200-room business hotel in Phnom Penh
BHCC Development to build 200-room business hotel in Phnom Penh
June 6, 2022, 5:00 p.m.
BHCC DEVELOPMENT, BHCC Tower Construction in Phnom Penh City. A high-rise complex that includes a business hotel, commercial facilities, and parking. Buildings that will become landmarks in Phnom Penh, pay with BHCC at all facilitiesBHCC, a digital asset with a mainnet, will build a 200-room business hotel in Phnom Penh, the capital of Cambodia, and a BHCC tower that includes various convenience facilities such as a coffee shop and a mart.According to BHCC recently established a real estate development company (BHCC DEVELOPMENT CO., LTD) and secured the right to use a parking lot near the Russian Market in the center of Phnom Penh.BHCC Tower, built by BHCC DEVELOPMENT CO., LTD, is a 12-story building with 11 stories above the ground and 1 basement. Convenience facilities such as a large hotel, sky room, and various commercial facilities are scheduled to be built, and BHCC Tower is expected to become a landmark in Phnom Penh when the construction work is completed.BHCC Tower, which is expected to become a landmark of Phnom Penh, will be built near Sangkat Toul Tompong 1, Khan Chamkarmon, Phnom Penh. The project is currently in discussion with nearby merchants about relocation.A person related to digital asset BHCC said, "BHCC is used as a payment method in all facilities in the BHCC Tower, including hotels and shopping malls."BHCC DEVELOPMENT CO., LTD secured 100ha in Siem Reap, Cambodia's second city, separately from the BHCC Tower construction in Phnom Penh and is preparing to build a large-scale leisure facility with various recreational facilities such as hotels and resorts, we plan to use BHCC as a payment method here as well.The plan that BHCC is currently designing and drafting a specific development plan is near the dock for floating houses in Siem Reap. The large-scale complex leisure facilities will be built in Siem Reap Province, Cambodia.Meanwhile, digital asset BHCC is listed and traded on the global exchange Todaycox and Hotbit Exchange. In particular, Todaycox Exchange allows you to purchase points with credit cards such as Visa and UnionPay.Looking for new developments in Phnom Penh? Let us help!
$10.35 billion in construction projects approved in first 11 months of 2021
$10.35 billion in construction projects approved in first 11 months of 2021
August 1, 2022, 4:35 a.m.
While 2021 may not have been the best year for many businesses in the Kingdom, the country’s real estate sector has something to look forward to as the Ministry of Economy and Finance (MEF) recently announced that almost 4,000 projects, amounting to over $10.35 billion USD were approved in the first 11 months of 2021.Of the almost-4,000 project figure, 90% are classified as residential projects. Phnom Penh is Cambodia’s fastest-growing city and was the primary destination of the foreign property investors in the years leading up to 2019.Approved projects total around 12 million square meters comprising residential, commercial, mixed-used, and industrial projects, according to the MEF.It is worth noting that Asia-Pacific residential markets have already started heating up as buyers look to secure property at significantly more attractive prices while they still can. This trend can be seen in how Cambodia’s landed property sector is picking up steam on the back of increasing local demand for affordable and mid-range landed properties.While the MEF did not disclose total projects approved in 2020, the value was estimated at $7.75 billion USD, a 32% decrease from 2019’s figures. Given 2021’s total construction value, this signals the first step in Cambodia’s recovery - making the question of a pre-pandemic flurry another matter of when.Last November 2021, the Cambodian government relaxed travel requirements for foreigners entering the country.  This is off the back of the Kingdom’s high vaccination rates and relatively low number of cases compared to its neighbours. The relaxation of requirements similarly extended to businesses within the country, including bars, discos and KTVs.The ADB and the World Bank projects Cambodia’s economic reopening and simplified travel requirements will contribute to a ~5% GDP growth in 2022.Looking for new developments in Phnom Penh? Let us help!