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Phnom Penh Increasingly Sought-After as Travellers' Destination

July 18, 2023, 1:52 a.m.

Phnom Penh, often referred to as the "Pearl of Asia," has emerged as a sought-after destination for travellers seeking unique experiences. With a surge in global interest and a wave of new developments, this city seamlessly blends tradition with modernity, catering to both visitors and residents.Tourists flock to Phnom Penh to explore iconic landmarks such as the Independence Monument and the Riverside, immersing themselves in the local market for an authentic experience. However, the city's appeal as a must-visit destination in Southeast Asia is steadily growing, thanks to the emergence of award-winning hotels and exceptional rooftop bars that serve as top-notch entertainment venues. These exciting developments have positioned Phnom Penh as an increasingly attractive destination in Southeast Asia.According to a research report by Explore Worldwide, a UK adventure travel company, Phnom Penh ranks fifth on the list of preferred destinations for solo travel worldwide. Over the past two years, the search volume for Phnom Penh has skyrocketed by an impressive 500%, indicating its growing popularity among travellers. Moreover, Phnom Penh is renowned for its diverse districts that cater to different interests and preferences.(Photo credit: Explore Worldwide)One of the most popular areas is Riverside (Sisowath Quay), situated along the Tonle Sap River. This neighbourhood offers a range of accommodations and is known for its lively street life, particularly at night with the Phnom Penh night market. Tourists enjoy strolls and explore attractions like the Royal Palace, National Museum, Phnom Penh Post Office building, and Wat Phnom. Additionally, the Riverside area provides boat rides offering excellent views of Cambodia's skyline from the Tonle Sap River, with prices ranging from $3 to $5.BKK1 is another favoured district in Phnom Penh, renowned for its upscale community and an abundance of cafes, shops, shopping malls, and restaurants. Food enthusiasts can enjoy a wide range of international cuisine, while the location itself attracts foreigners and young locals. BKK1 is an ideal place for cafe hopping and exploring shopping centres like Aeon Mall Phnom Penh and Chip Mong Noromall. In addition, the Independence Monument, symbolising Cambodia's sovereignty and independence from French colonial rule, is also a must-see attraction while in BKK. For solo travellers seeking an exciting nightlife experience, Bassac Lane, also known as Phnom Penh's "Bar Street," is a must-visit destination. Located in the Bassac River District, this famous street is hidden in the city centre and offers a wide array of eateries, bars, and pubs. Travellers can enjoy craft beers, dining, live music performances, and the opportunity to socialise and meet new people.When it comes to shopping and immersing in the bustling local market scene, Phnom Penh's wet markets such as Russian Market, Central Market, Orussey, and BKK Market are the go-to places. They offer a wide variety of handicrafts, souvenirs, clothing, and authentic local street food. Navigating through their narrow alleys, bargaining with friendly vendors, and sampling local snacks will provide an unforgettable experience.Phnom Penh also boasts several modern entertainment venues worth visiting. The city's rooftop bars, offering breathtaking views of the skyline, have become popular choices for tourists seeking a memorable experience.One recent highlight in Phnom Penh's tourism industry is the recognition of the Rosewood Hotel located in Vattanac Capital. The readers of Travel + Leisure, one of the oldest international travel magazines, voted Rosewood Phnom Penh as the Best City Hotel in Asia. The hotel's exceptional facilities, prime location, outstanding service, gastronomy, and great value have contributed to its success. Rosewood Hotel, which is also home to the Sora Sky bar, offers a unique venue to enjoy the city from high above. Located on the 37th floor, its standout feature is the outside terrace, providing breathtaking views over the capital city. Another popular rooftop bar is the Lantern Rooftop Bar, situated atop the fabulous Baitong Hotel & Resort Phnom Penh, also located in BKK1. The bar's chic and charming atmosphere, contemporary lounge vibe, and comfortable seating arrangements create a perfect setting for enjoying craft cocktails and bites while overlooking the high-rise buildings.(Photo credit: Sora Facebook Page)Excitement is on the horizon as IHG Hotels & Resorts prepares to make an impressive addition to Phnom Penh's entertainment scene with the introduction of the prestigious Vignette Collection brand at Odom Tower. Situated on Norodom Boulevard, the hotel will occupy the top seven floors of Odom Tower, a 45-story office building. It will feature two remarkable restaurants and a breathtaking rooftop bar will provide a stunning setting to enjoy panoramic views of the cityscape. This sophisticated venue is destined to become a popular gathering spot, offering a stunning view of the city and becoming a favoured destination for both visitors and residents alike. Whether you are looking to buy or rent property in Phnom Penh, we have more than 40,000 listings on our website! Free Consultation Here

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department of taxation in phnom penh

IMF calls for an increase in property taxes

June 6, 2022, 5:02 p.m.

Cambodian real estate insiders are raising concerns about whether new property taxes will soon be imposed. Many fear that any added fees could hamper growth in the sector.The topic was raised earlier this month when the International Monetary Fund (IMF) released a report suggesting that Cambodia should increase its property tax revenue in order to fund infrastructure spending.According to the 26-page document, property tax revenue in the Kingdom accounts for just 0.1 percent of the country’s GDP. The report states that this is very low, even among Asean countries, and that pushing property tax revenue to 0.6 percent of GDP would help the economy grow by 2.7 percent.Ngeth Chou, an independent financial and real estate advisor, said that the Cambodian real estate sector is at a crossroads due to several factors. He cited rising prices and the impending loss of the Everything But Arms (EBA) trade deal from Europe as complicating factors in the decision-making process.“Property owners don’t only pay taxes based on the base price of the property. In most cases, the owners pay extra fees to officials to make sure process is fast enough,” he said, adding that any additional costs will fall directly on property owners.“There should be proper study and consideration after the EBA deal comes to an end, to see whether there is a significant impact on the economy.”Chou added that the government recently revised property base prices for tax calculations and the 4 percent stamp duty is already high. Thus, he said, it’s not an appropriate time to raise property taxes.Cambodia taxes skewed toward import and VATPublished on September 6, the IMF’s paper, titled Advancing Inclusive Growth in Cambodia, analyses how increasing either property tax, VAT, or income tax can secure the funding for the infrastructure spending budget.According to the report, enhanced infrastructure could help raise incomes, especially in rural areas, by improving market access and mobility.“Financing these investments through progressive income taxation, such as property taxation, can help reduce inequality further,” the report said.Cambodia’s revenue mobilisation has improved markedly in recent years. In 2007, tax revenue amounted to less than 10 percent of GDP, while in 2017 it had increased to around 17 percent.This is among the highest levels in Asean. However, Cambodia’s revenue sources are skewed towards value-added tax (VAT) and import taxes. Out of total tax revenue (16.9 percent of GDP), 61 percent of total tax revenue is generated by the VAT.Tax rate unchanged since 2012Po Eav Kong, managing director of Asia Real Estate Cambodia Company, said that it’s not a good idea to raise property taxes right now.He explained that there are currently two main types of property taxes in the Kingdom, those that cover property ownership and those that cover property transfers.In June of this year, the taxation department increased the transfer tax rate, but the property tax rate has remained the same since 2012.As it stands, properties that are valued at under US$25,000 are exempt from the property tax. Transfer taxes, on the other hand, are applicable to all properties.“If the government wants to increase property taxes, they could increase the [base] property price to align with market prices, or they could increase the threshold from $25,000 to $50,000,” he said.Dith Channa, CEO of Lucky Realty Co Ltd, said that if the government decides to follow the IMF’s advice it will get more revenue, but the people could face negative impacts.“Government will need time to discuss ... I think [a property tax increase] is good for the government, but for the people, it will impact them.”Want to find out more about the tax system in Cambodia, please check out our Investment Guide 2019 Article by

A real estate from Realestate.com.kh speaks to participants of 2018 Real Estate Expo

Seminar lineup announced for Realestate.com.kh Expo 2019

June 6, 2022, 5:02 p.m.

The biggest real estate event of the year is less than a month away. On October 4 and 5 the Realestate.com.kh Expo 2019 will be hitting NagaWorld in Phnom Penh. This is the latest in a long line of successful event from Realestate.com.kh, and this one is sure to generate millions in property sales. All of Cambodia’s biggest names in real estate will be there as exhibitors and participants. However, in addition to the expo floor, there will also be a full schedule of seminars where attendees can hear from experts in the industry.Seminars will take place in Khmer, English and Chinese. In fact, there will be translators and headsets so that no matter what language you speak you’ll be able to listen and learn.Realestate.com.kh is dedicated to bringing its visitors the best quality content about property in Cambodia. These seminars are no different. Attending the expo is completely free and so are the seminars. Sign up for free express entry right now, and read on to learn about the seminars that will be going on at the event.Who will be speaking at the Realestate.com.kh 2019?Realestate.com.kh always strives to create the best, most educational experience with its seminars. Here are the experts who will be speaking at NagaWorld on October 4, the first day of the event:Oknha Sear Rithy, Chairman of World Bridge GroupOknha Cheng Kheng, Chairman and CEO of CPL CambodiaSorn Seap, Founder and Director of Key Real EstateDr. Kim Heang, Regional Operating Principal at Keller Williams CambodiaMarc Townsend, Chairman of CBRE CambodiaMatthew Rendall, Senior Partner at SokSiphana & AssociatesCatherine Chan, Executive Director of Urban VillageDan Davies, Director of CBRE CambodiaThe day is sure to be full of riveting discussions about tons of different topics. Catherine Chan, for example, will be speaking about the differing demands of foreign and local condo buyers. “Foreigners put more emphasis on the living environment, but practical conditions and price range are the top factors for local buyers,” Chan said. To be sure, there will be valuable information for every perspective within the Cambodia real estate market.As if that weren’t enough, we have another action-packed schedule set for October 5. Speakers for the second day of the event include:Mr. Li Min, CEO of Prince Real EstateDr. Raymond Choi, Chairman of Prestige Homes CambodiaMr. Edward Lin, CEO of Yi Fung Real Estate ServicesMr. Haijun Zeng, Partner at Tings & AssociatesMr. Tasos Stavrou, Group Sales Operations Manager, China and Asia GMMs. Vann Sokun Nymol, Business Development Manager of Harvey Law GroupThe Realestate.com.kh Expo 2019 is a must-go for property investorsIn addition to having a full lineup of expert speakers, there will be tons of industry insiders exhibiting at the event who will be happy to chat with attendees. Over 50 companies will have booths at the show.What’s more, you will find some of the best property discounts of the year at the event. If you are planning to put money down on real estate this year, the expo is the only time.This year’s event is set to be sponsored by international logistics giant ZTO Express, Ezecom Cambodia and Lumiere Residence. All the biggest names in boreys, condos, land, law, agencies, construction, architecture and home decor will be on hand. It will be the most important real estate event the country has ever seen.Also joining the event are ARU ME Metal, Prince real estate group, Prince Huan Yu, Prince Jin Jia, Victory Bay, La vista One, Urban Village, Bel Air, Creed (Zelkova), Aristo Developers, SH Condo, M Residence, Chief Bank, North Park, Condominium, The Penthouse, Beyond Design, HLG (Harvey Cambodia Co., Ltd.), Pafillia Property Developers, Leptos Estate, MAA Architecture & Design, Oxley Emerald, Orkide Villa, Le Bassac, E-Power, Yi Fung Realestate. Huateng (Cambodia) Investment Co.,Ltd., New landmark, Unicom Scienceplastic, C-Herald Propery Service, Huaye , HYO, Morgan, R&F, KH Land, International Top Agent ( ITA), Toul Kork Lane , Baoli Mansion, The Bund, CBRE, WanHao, Wealth Mansion, FDD Real Estate, Century 21 Cambodia, Zenearth. Go to the expo’s website to find out more information and sign up for free express entryWant to find out more about housing types in Cambodia? Read our Investment Guide 2019.Reminder: It is free to enter the Realestate.com.kh EXPO 2019 at NagaWorld. Register now for express entry.

Last month the Cambodian government moved to restrict online gambling operations in the country.

Will gambling ban hit Cambodia real estate?

June 6, 2022, 5:02 p.m.

A recent government decision to stop issuing new online gambling licences in Cambodia has many speculating that inflow of both capital and visitors from China will take a hit in the coming months. Real estate insiders, however, say that the move only serves to improve the quality of investments coming into the Kingdom.Many in the sector have pointed to the gaming industry in Cambodia as one of the main reasons that both investors and tourists from China have been coming to the country in increasing numbers over the past few years. Indeed, Sihanoukville in the south and Poipet, on the border with Thailand, seem to be the focal points of this growth. Both cities have a well-established casino industry.Everything was business as usual until the middle of last month. That’s when Prime Minister Hun Sen issued a directive that halted the issuance of new internet gambling permits. The move, which was trumpeted as a bid to eliminate online extortion associated with online gambling venues, also means that existed licences will not be renewed.Local sources are reporting that many gaming venues have already shut their doors for good and thousands of Chinese expats have left Sihanoukville.Just a week after the August 18 decision, the Ministry of the Interior deported 150 Chinese nationals in relation to an online gambling scam operating out of Sihanoukville and Bavet.According to Chinese state media agency Xinhua, the scheme had netted around US$14 million.Falling Sihanoukville demandInsiders in Sihanoukville have said that room rates at hotels and guesthouses in the area have declined since last month. Nuon Rithy, chairman and CEO of the Khmer Appraisal Foundation, said that Chinese expats leaving Sihanoukville are workers or visiting gamblers, not investors. This, in turn, has caused a drop in the demand for accommodation, food and other services. Rithy claimed that other areas of investment in the country, such as real estate, construction, tourism and textiles are stronger than ever. “The decision to stop the issuance of gambling license is a good strategy to filter good investors ... which will bring benefit to Cambodia’s economy in the long run,” he said. “I strongly believe that the decision will provide long-term benefits and Sihanoukville province will become the best destination for tourism and trade in the near future.”Sihanoukville, Bavet, and Poipet are the main centres of Cambodia’s online gambling industry. These three areas are reportedly all witnessing an exodus of Chinese expats. Despite the fact that gambling is illegal for Cambodian citizens, the Kingdom has become somewhat of a gaming hub in Southeast Asia, due to the fact that foreigners are allowed to lay bets. Kim Heang, CEO of Khmer Real Estate Co Ltd, claimed that the ban on online gambling businesses in Cambodia will affect land prices in Sihanoukville, Poipet, and Bavet.However, he added that it is just a short-term effect, and long-term gains will continue.Plots in Sihanoukville which were being sold for just $200 per square metre three years ago have routinely been selling for around $3,000 per square metre.“Over the long term, this decision will provide big advantages for Cambodia’s macro-economy and renew the current operating licenses for one more year would be the best solution for all." Heang said.If you want to know more about gambling in the Kingdom, be sure to read our guide to casinos in Cambodia. Article by:

SingMeng launches new website

SingMeng launches new website

June 6, 2022, 5:02 p.m.

SingMeng is proud to announce the launch of our new website, which coincides with our expanding role as a national leader in telecom and media services.Our new website provides a clear message of who we are, what we stand for and where our value lies when developing, delivering and maintaining new telecom and media solutions.The website also boasts a clean design and intuitive and consistent site-wide navigation system with improved menu functionality that directs you to the information most relevant to you. It is also fully responsive with mobile devices, making it easy to navigate on a wide range of web browsers and portable devices.We also plan to continue adding more video content and product information to provide you with all of the information you need to evaluate our products and services.We are proud of the new website and feel it will create the experience you are looking for when you want to get the fastest Internet solution and the largest entertainment platform in Cambodia.Check out the new Sing Meng Telemedia website.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019

Borey LJ developer aims to dominate market with “Affordable yet High Quality” housing

Borey LJ developer aims to dominate market with “Affordable yet High Quality” housing

June 6, 2022, 5:01 p.m.

With its population reaching over 16 million and steadily growing, Cambodia is witnessing a rapid increase in people’s migration to bigger cities to look for work.The country’s capital city Phnom Penh, for example, now has a population of more than 2 million residents and is growing faster than the city’s resources allow for, including housing.Having seen this growing housing demand, many local and international developers took the opportunity to develop numerous housing projects ranging from condominiums, villas, and boreys, often in the suburbs as the city expands.Boreys, sometimes referred to as gated communities, have been growing in popularity for the past years amongst developers and are favored by home buyers given their practicality and affordable price.A recent report from VTrust Appraisal predicts that the number of boreys or landed houses in Phnom Penh will reach nearly half a million by 2030.Keo Rady, Marketing Manager at LeJu Development Cambodia, told Realestate.com.kh that the company is striving to be a leading real estate developer for Phnom Penh’s growing housing markets. To reach that goal, the company has developed “an affordable yet high quality” housing project called Borey LJ, he added.Mr. Rady stressed, what is so special about Borey LJ is its location which is in Por Senchey, one of Phnom Penh’s fastest-growing districts, surrounded by local and international schools, big shopping centres, hospitals, and many other facilities, and only a 10-minute drive from Phnom Penh International Airport.“Houses in Borey LJ are well-designed with 30-meter-wide streets. The construction of this project is well-managed and “closely monitored” by a British engineer with years of experience in construction, he added. “The project was granted with all the legal permission documents and the company will provide hard titles to its buyers.” Houses in Borey LJ start with a total floor area of 94 to 173 square meters with land size from 68 to 189 square meters, and an affordable starting price of $64,400. Borey LJ is a good product for new families who want to own their first homes, he added.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.

Prince Tian Xi Wan aspires to become Cambodia's Burj Khalifa

Prince Tian Xi Wan aspires to become Cambodia's Burj Khalifa

June 6, 2022, 7:08 p.m.

With a total height of 829.8 meters above the ground, Dubai-based Burj Khalifa condo remains the world tallest structure since 2009. Situated on the Southeast coast of the Persian Gulf and Dubai, the capital of the United Arab Emirates, it is home to the world's most gigantic shopping malls, restaurants, bars and more impressively is the Dubai musical fountain.Located on the other side of the world, over 5000 kilometres away, a similar story is being created in Sihanoukville, Cambodia. Inspired by the unique and impressive design of Burj Khalifa, Prince Real Estate Group, the China-based property developer with years of successful real estate developments, wants to impress the world with its Prince Tian Xi Wan project.The Prince Tian Xi Wan is a mix-used property development located on the waterfront of Victory Beach in Sihanoukville. It is going to impress the world with its unique designs and is the second to none high-end coastal resort that none would surpass for quite a while.One and only superstar rated hotel in SihanoukvilleWith the ultimate goal to help Sihanoukville, an emerging city, to transform as a world-class tourist destination, Prince Tian Xi Wan will serve tourists from all over the world visiting Cambodia with its super five-star rated hotel, the only hotel in Sihanoukville to achieve such recognition.The availability of such accommodations will allow Sihanoukville to welcome any tourists, including those looking for the luxurious travel experience.Prince Tian Xi Wan has 393 spanning over a total area of approximately 48,000 sqm. The complex also homes to the finest restaurants, swimming pools, gyms, spas and other recreation services, that make your stay more enjoyable and memorable.The 24-hour butler room services will perfectly satisfy and fulfil any of your needs and requirements to make your experience of staying as pleasant as possible. On top of that, it is not only an excellent place for leisure vacation in Sihanoukville. It is also a perfect place for business meetings.The largest duty-free shop in Sihanoukville"The world is so big. I want to see it the most," a very popular sentence among Chinese people. For them, it means that they are always ready to pursue better life experiences. For them, Chinese tourists, shopping in duty-free shops full of big brands across the world are part of the journey exploring new experiences and must-visit places.Prince Tian Xi Wan hosts the largest duty-free shop in town that offers both locally-made and internationally-produced luxurious products. Come and enjoy the fashionable and jaw-dropping scenery of various world-class brands at Prince Tian Xi Wan International Duty-Free Shop.The latest technology of IMAX cinema in SihanoukvilleWhat is so special about the IMAX cinema at Prince Tian Xi Wan? All the theatres are equipped with high-quality audio and video systems, designed with wide-angles, great-slop structures, which definitely will amaze you with the ultimate audio-visual feasts.The first beachfront amusement park in SihanoukvillePrince Tian Xi Wan, as of now, the first and only place that has a beachfront amusement parkin Sihanoukville, including indoor swimming pool, water sports, children's playground and family game areas.All these facilities definitely will escalate your excitement right next to the beach nowhere else could offer as such. If the amusement park is not your cup of tea, you can go snorkelling, or playing with pure white sand or take a dip.The first luxury shopping avenue in SihanoukvillePrince Real Estate Group also aims to provide visitors to Prince Tian Xi Wan with the best experience of shopping that ones could feel when going to shop at world-famous shopping avenues such as Champs Elysees, Fifth Avenue and Bond Street.It hopes such attractions will drive more people to Cambodia. Prince Tian Xi Wan's shopping avenue has plentiful options of top brands from gems, jewellery, watches and many more products. You name it.The first private yacht marina in SihanoukvillePrince Tian Xi Wan is also home to the only and one yacht marina in Sihanoukville. It offers a variety of activities and facilities. You will find something that you like to try or to experience. On the other hand, it is not only just a marina, at Prince Yacht Club, there will also be exclusive parties exquisitely organised by a professional team to optimise the sailing experience for the visitors.For those who yearn for a poetic and graceful life, the Prince Tian Xi Wan is a dream home right at the beautiful shore. An encounter with the Prince Tian Xi Wan is the beginning of your new romance with the Southeast Asia region. Choose a beautiful home at the Prince Tian Xi Wan and live your life to the fullest.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Registration for Cambodia Real Estate Awards 2019 is open.

Sihanoukville's first luxurious seascape residential complex with high-end residential spaces

Top China-based developers to showcase flagship projects at upcoming real estate expo

June 6, 2022, 5:02 p.m.

Chinese real estate giants Prince Real Estate Group, Prince Huan Yu, Prince Jin Jia, and Chun Hui Yuan Cambodia Investment are working around the clock for their biggest property showcase to date, according to their representatives.Expo organizer, Realestate.com.kh, recently announced the participation of over 50 local and international developers in this year’s iteration of its massively successful property show, Realestate.com.kh EXPO, which has seen over $100 million in the property sold in past events.Thousands of local and international buyers are expected to come in droves to the expo set for October 4 and 5 at NagaWorld.Multi-million projects in Sihanoukville and Phnom PenhA representative of Prince Real Estate (Cambodia) Group Co., Ltd. says the company is working overtime to build an impressive showcase for their 4 flagship projects, including Prince Tian Xi Wan in Sihanoukville, and Prince International Plaza, Prince Happiness Plaza, and Prince Central Plaza in Phnom Penh, which will be on display at booth numbers 42, 43, 56 and 57, respectively.Prince International Plaza is a comprehensive project in Phnom Penh consisting of five 12-storey buildings with a total building area of 200,000 sqm. It offers a premium collection of luxury residences, top-grade commercial spaces with ultra-modern facilities, entertainment and leisure components in a one-stop metropolitan setting, which the developer expects will make life in Cambodia more comfortable and convenient.Prince Happiness Plaza, on the other hand, is a complex of service apartments and commercial office units built within Phnom Penh’s central business district, along Monivong Boulevard. It is expected to become a great addition to Phnom Penh’s fast-changing landscape.Prince Central Plaza is a multi-purpose project located in the heart of Phnom Penh, a few minutes from the popular commune of Tonle Bassac, and close to bars, restaurants, entertainment facilities, and some of Phnom Penh’s historical landmarks. Prince Tian Xi Wan is Prince Real Estate’s international-class seaside resort in Cambodia’s coastal town of Sihanoukville, located in one of the most popular districts near Victory Beach. It is the biggest project of its kind and comes with a five-star hotel, the largest duty-free shop, a luxury shopping mall, an IMAX cinema, private yacht club, and beach lounge. Once completed, Prince Tian Xi Wan is expected to stand out as a new landmark and a great addition to Sihanoukville.Top-tier developments from Prince Huan YuAccording to a spokesperson of Prince Huan Yu Real Estate (Cambodia) Group Co., Ltd., a subsidiary of Prince Holding Group and a well-known real estate developer in Cambodia, the company will bring two ongoing projects to showcase at the event, Prince Golden Bay in Sihanoukville and Prince Huan Yu Center in Phnom Penh.Prince Golden Bay is a mixed-use project located in a prime area in Sihanoukville. It covers an area of more than 22,000 sqm and will include 4 apartment buildings and a 5-storey shopping centre.Prince Huan Yu Center is a top-tier multi-purpose project in Phnom Penh that consists of office spaces, luxury apartments, and retail shops.Prince Huan Yu’s developments go on display at the expo at booth numbers 44, 45, 54 and 55.High-class properties in SihanoukvilleTwo other luxury properties in Sihanoukville are expected to draw significant interest among attendees at the expo.According to its developer, Prince JinJia Real Estate (Cambodia) Group, Prince One Sihanoukville will be the first high-end complex in Sihanoukville to integrate high-value configurations such as high-end hotels, commercial avenues, clubs, swimming pools, and even a Chinese-Cambodian cultural exchange facility called Sino-Cambodia International Institute. Prince One Sihanoukville will be on exhibit at booth numbers 26, 27, 36 and 37 at the property expo.Sihanoukville project Victory Bay is also expected to draw attention. Sitting next to one of the most iconic and oldest hotels in town, Victory Bay is a luxurious seascape residential complex with two 39-storey high-end residential buildings lying on a total floor area of 200,000 sqm.Its developer, Chun Hui Yuan Cambodia Investment Co., Ltd. is an investment enterprise focused on investment and development of hotels and residences. It is a subsidiary of Beijing-based Chun Hui Yuan Investment Group, established in 1996. The Victory Bay project will be on showcase at booth numbers 24, 25, 38 and 39.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Reminder: It is free to enter the Realestate.com.kh EXPO 2019 at NagaWorld. Register now for express entry.

The 8th event of the meet the experts series on hospitality and investment trends in Cambodia

Hospitality and Investment Trends in Cambodia

June 6, 2022, 5:02 p.m.

Savills Hotels Asia Pacific is going to host the 8th event of the Meet the Experts series on 12th September 2019 at Sofitel Phnompenh Phokeethra, Cambodia. At this event, industry experts from the Ministry of Tourism of Cambodia, Savills Hotels APAC, Hilton Worldwide and STR are invited to share their insights about Hospitality and Investment Trends in Cambodia.What: The 8th Meet The Experts EventTime: 17:00-20:00Date: Thursday, 12 September 2019Venue: Sofitel Phnom Penh Phokeethra The event will include a fascinating panel discussion on the challenges and opportunities in the Cambodian market with the involvement of real estate experts from DFDL, Archetype, Realestate.com.kh and Keystone, followed by a networking and drinks section at the end of the event.Meet the Experts event is dedicated to real estate developers, investors and hotel owners in the region with a very exclusive capacity. For further information and registration, please kindly contact the latest by 10th September 2019:Ms. Thao Duong (English)+84 905 931 902DThiThanhThao@savills.asiaMr. Sin Kaomeng (Khmer)+855 93 559 998meng@keystone-savills.asia Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.

Borey houses in Phnom Penh

Half a million landed homes by 2030: VTrust

June 6, 2022, 5:02 p.m.

The number of landed houses in Phnom Penh will reach nearly half a million by 2030, according to a recent report from VTrust Appraisal.The document, titled Phnom Penh 2030, showed that landed homes will increase threefold over the next 13 years. The valuation company claims the total currently stands at 150,000 but will hit 450,000 by 2030. VTrust’s report anticipates an average of 25,000 new landed units to hit the market each year and an overall growth rate of 9 percent in the housing supply.VTrust Appraisal’s research director, Hoem Seiha, who authored the report said that Phnom Penh has witnessed a 4 percent population growth year on year as more people seek opportunities in the city.“Rapid growth of population in the city and an increasing influx of new incoming migrants who come from different parts of the country to settle down in the city will drive more demand for houses in Phnom Penh,” Seiha said.“The flexible mortgage schemes for housing sector has come to boost the affordability of city population and thus will continue to drive the housing forward.” Dangkor, Chroy Changvar expected to grow Currently, there are seven districts in the capital with active landed housing developments. These include Por Sen Chey, Dangkor, Chroy Changvar, Russey Keo, Sen Sok, Chbar Ampov and Meachey districts.Of these districts, Por Sen Chey currently has the largest supply with nearly 50,000 landed homes. Sen Sok and Dangkor districts each have just over 20,000. However, VTrust’s report predicts massive growth in Dangkor district. The forecast claims there will be almost 100,000 homes there by 2030.It should be noted that the numbers in the report include landed houses only if they are part of a community with 20 or more units. Boreys fall squarely into this category.Concerns over affordable housingNget Chou, a local financial and real estate adviser, said that the growing demand for property ownership has pushed up property values over the past few years. Chou claimed that land prices were currently growing by between 10 and 100 percent per year, depending on location.However, he said there are worries in the affordable segment of the market.“Cambodia may face the housing crisis in the future especially among many low-income people,” he said. “The current affordable housing supply in Cambodia does not meet the living standards of a worker, as a house costs at least $25,000. This crisis has already happened in Hong Kong, so Cambodia should learn and prepare.”In terms of land price alone, Chou said that rates in Cambodia are still low compared to the rest of the region.According to Chou, the average value of urban land in Cambodia is around $2,900 per square metre. In Thailand, meanwhile, it sits at $3,900, $11,800 in China, $13,700 in Singapore, and $28,500 in Hong Kong.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Article by:

Leshen The Lord Garden, a unique designed luxurious residential project to join Sihanoukville’s real estate boom

Leshen The Lord Garden, a unique designed luxurious residential project to join Sihanoukville’s real estate boom

June 6, 2022, 11:08 p.m.

For the last couple of years, the coastal town of Cambodia’s Sihanoukville, once a sleepy town, has experienced major developments at a very fast pace, especially in the real estate sector. As the city expands, the demands for urban lifestyles and luxurious housings increased. Having seen the potential and rapid increase of modern housing demands in Sihanoukville, Leshenwe (Cambodia) Real Estate Development Co., Ltd, a joint venture of two real estate development companies from Cambodia and China, have joined together to participate in the fast-growing real estate market of Sihanoukville to jointly develop a project called “Leshen The Lord Garden", a uniquely designed residential project of boreys and low-rise apartments. Leshen The Lord Garden is located along National Road 4, surrounded by markets, schools, hospitals, public infrastructure, recreation facilities, and much more. The project is sitting on over three hectares of land. It consists of 315 multi-type borey homes. There are three types of boreys at Leshen The Lord Garden, ranging from two to 3.5 stories. These homes are 4.2 to 4.5 metres wide and 14 to 17.9 metres long, all with their own distinctive designs and characters. The borey section of Leshen the Lord Garden has a floor area of approximately 56,000 sqm and covers a site area of more than 37,000 sqm. The design aims to give the example of low density and high comfort residence. Its units start from $880-$1000 per sqm, or a minimum total of $110,000.Units at Leshen The Lord GardenEach unit at Leshen The Lord Garden project is well-thought, to make sure that the high quality of construction is reached and the relaxing experience of buyers is guaranteed, with high quality decorations, stylish kitchens and modern appliances equipped bathrooms. A great addition to this project’s design is that the ground floor of every borey house can be used for commercial or retail which provides easy access to the residents, leveraging the experience of living in the Leshen The Lord Garden to a greater level. The project is set to be completed by the end of 2020.High standards guaranteed at Leshen The Lord Garden Leshenwe (Cambodia) Real Estate Development Co., Ltd, is committed to providing its customers the best out of their hard earned money that means it is strived to provide them with the highest quality of their loving homes. The comfort and memorable experiences of its customers are the main considerations of its projects, to assure that, the company hired the best design company with many years of experience designing big projects to design Leshen The Lord Garden. Also to make sure the high quality standards of construction are met, the Leshen The Lord Garden project has been closely monitored by experts from the Cambodian government at every step of the construction. Leshen The Lord Garden’s project B set for openingWith huge success and great supports of Leshen The Lord Garden’s project A, Leshenwe (Cambodia) Real Estate Development Co., Ltd, has announced last week that units in its Leshen The Lord Garden’s project B are up for grabs. The sale of the Leshen The Lord Garden’s project B was officially opened on August 25. The grand opening of project B was attended by representatives from both partnered companies, government officials and potential buyers. As of now, with unique, sleek designs, high standards of construction with good quality materials, the company has sold more than 85 percent of its luxurious residential homes in the Leshen The Lord Garden’s project A, according to Mr. Chuan Li, the company’s marketing manager. He added that the construction of project A has completed about 70 percent. The company predicts the same result for its project B, given the great support it received in the first project due to the reputation the company has built and the commitments it has to provide its buyers the most loving and comfortable future homes where the families can cherish every moment together. To learn more about the main types of housing in Cambodia, refer to our Cambodia expat guide.

SingMeng TV offers premium service to homes, hotels and condos of Cambodia

SingMeng TV offers premium service to homes, hotels and condos of Cambodia

June 7, 2022, 7:00 a.m.

SingMeng TV is one of the best HD TV providers in Cambodia. Today, fiber internet technology is becoming more powerful than ever. SingMeng TV is the first TV solution working directly with a fiber internet connection. This new TV generation will provide you the latest technology, experience and convenience on the market. What makes SingMeng different from other TV providers? A real HD TV viewing experience, anytime and anywhere with your fiber connection.More than 120+ live TV channels and hundreds of movies and dramas on demand for your home with the best of both Khmer and international entertainment. Time Shift Program system that allows you to watch past programs for up to seven days! Direct access to YouTube, YouKu & iQIY Apps from your TV. Multilingual intuitive and interactive interface. How does it work? SingMeng TV works with any fiber internet provider in Cambodia. You just need to connect your fiber internet cable to our set top box and our team will provide you full support for the installation. *SingMeng TV solution without set top box is available for premium hotel and condo buildings. How much is SingMeng TV? SingMeng TV is available for $8.80 per month (VAT included). You will get full access to our Video on Demand, streaming and our multiple functions as well as more than 80 channels. Additional packages are also available, like Premium Chinese, HD or sport channels.For more details: http://smtelemedia.com/About SingMeng Telemedia: SingMeng Telemedia is a Triple Play and High Quality Broadband Service provider in Cambodia.They provide Fiber High Speed Internet solutions (Home, Business and Corporate), Multi-media solutions (OTT TV, Smart community, Mobile TV App) and Voice solution (VoIP) as well as a large range of high quality broadband connectivity’s solutions for business and corporate.Customer Service: 096 6661 888/089 966 888SingMeng Website: https://smtelemedia.com/SingMeng Facebook: https://www.facebook.com/singmengcambodia/#SingMeng #SingMengTV #FiberInternet

People enjoy the Realestate.com.kh Expo 2018

Top names on board for Realestate.com.kh Expo 2019

June 6, 2022, 5:02 p.m.

Cambodia’s most popular real estate website has announced yet another property expo at Phnom Penh’s NagaWorld complexThe Realestate.com.kh Expo 2019, set for October 4 and 5 at the NagaWorld Resort, is the fifth major expo put on in the Kingdom by Realestate.com.kh. Over $100 million in property has been sold at past events, with around $30 million changing hands at last year’s event alone.This year’s event is set to be sponsored by international logistics giant ZTO Express.All the biggest names in boreys, condos, land, law, agencies, construction, architecture and home decor will be on hand. It will be the most important real estate event the country has ever seen.Also joining the event are Aru-Me Metal Co., Ltd., Baoli Mansion, Bel Air, C-Herald Property Service, CPZY Development, Creed (Zelkova), HuaYe Real Estate Investment Limited, HYO International, KH Land, La Vista One, MAA Architecture & Design, Morgan EnMaison, Morgan The Pure Bay, Morgan Tower, New Landmark, Pafillia Property Developers, Prince Huan Yu Real Estate (Cambodia) Group, Prince JinJia Real Estate (Cambodia) Group, Prince Real Estate (Cambodia) Group, R&F, TCC, Toul Kork Lane, Unicom SciencePlastic (Cambodia) Co., Ltd, Urban Village, Victory Bay and Yi Fung Real Estate.Benefits of joining Realestate.com.kh Expo 2019The Realestate.com.kh Expo will bring in thousands of local and international property buyers. Most importantly, these people will be ready to buy now. In addition to this amazing pool of buyers, exhibitors can also expect to rack up hundreds of sales leads that will continue to pay off as the year unfolds. Branding is another key reason businesses are joining the show. Exhibitors will become known as leaders in the local property market. Indeed, the show will bring the chance to network with all the biggest names in every corner of the sector. Media outlets sign on to promote the eventMarketing the huge event has already to pick up speed. Realestate.com.kh has signed up the biggest names to help spread the word about the once-in-a-lifetime show.Chinese heavyweights 58.com and Fang.com are set to attract thousands of international investors to the show. Meanwhile, local media partners will pull in hundreds of expats and Cambodians in the country who are shopping for real estate. Names include Property Area Asia, Fresh News Asia, EuroCham, Biz Khmer, Thmey Thmey, Business Cambodia, The Cambodia China Times, Forward Asia, Khmer Times, Nice TV, Gold Zone Media, Grep Tech, B2B Cambodia, Angkor Today, CTN, Khmer Load and My TV.But space is limited at this spectacular event. If you or your company is interested in sponsorship, booth space or advertising with the event, contact Realestate.com.kh now!Nin Kang (Chinese/Khmer)nin.kang@realestate.com.kh+855 78 637 323 / +855 93 552 305 Tyler Stuart (English)tyler.stuart@realestate.com.kh+855 12/81 599 669 Or, for more details visit the Realestate.com.kh Expo 2019 homepage!

A view of the Sky Villa interior

Chinese developer selling ‘largest condos in Phnom Penh’ at Sky Villa project

June 7, 2022, 6:57 a.m.

A Chinese real estate developer officially unveiled its condominium project called Sky Villa late last week. The company claims that the units it will be offering in the complex will be the largest condos in the Kingdom's capital.GreatView Investment last Friday unveiled Sky Villa, a project which is comprised of two 35-storey residential towers. The complex, which will also house a four-storey basement parking area, is set to span 256 units, or 128 in each tower.The condos range from 272 square metres to a massive 509 square metres. Currently, starting prices sit at just under US$1 million, or around $2,326 per square metre.“It will possibly set a new record for the largest apartment size [in Phnom Penh],” said Saly Phalin, senior sales manager of Alpha Alliance Real Estate, an appointed marketing agency for Sky Villa. While GreatView Investment is a Chinese developer with operations in China and Singapore, Phalin said that Sky Villa’s project manager is MCC Singapore, a subsidiary of the Global 500 Metallurgical Corporation of China, which has developed, constructed and project managed more than 6,000 condominium units across 12 projects in Singapore. “We expect this new ultra-luxury residential segment to cater to the growing wealthy class as well as foreigners in Cambodia,” Phalin said, citing China’s One Belt, One Road Initiative as a prime indicator of future growth.Sky Villa designed by the architect of Taipei 101Sitting near the Olympic Stadium, Sky Villa is designed by renowned Taiwanese architect Chu-Yuan Lee, famed for the iconic Taipei 101 in Taipei, Taiwan. Condos are arguably the hottest type of real estate in Cambodia. According to a recent report by real estate services firm CBRE, 13 condominium projects have been completed and put on the housing market during the first half of this year. CBRE’s figures also revealed that at the end of June, the total condominium supply in Phnom Penh hit 16,657 units. Over half of those units were classified as mid-range properties. The affordable and high-end segments, meanwhile, each accounted for around 25 percent of the market, each.CBRE’s research and consulting manager, James Hewson, said that the condo sector first started to gain momentum in 2017 when the total supply jumped from less than 5,000 to around 8,000 in just a year. Hewson added that the condo market is growing at a breakneck pace, and buyer demographics vary widely. Most developers, he said, target buyers of the same nationality.Hewson cited Chamkarmon district’s L’Attrait. Spearheaded by a Japanese developer, over 60 percent of the project’s units were purchased by Japanese buyers.“Overall, a wide variety of predominantly international purchasers have bought into the condo market in Cambodia … yet the new wave of affordable condominium launches is expected to engage local Khmer buyers.” A representative from Sky Villa refused to disclose the number of condos that had been sold but confirmed that most buyers were from abroad.MCC Singapore’s CEO Tan Zhiyong said that property investors are flocking to Cambodia to seek capital appreciation and rental yields. “Cambodia is witnessing a steady growth of the affluent class as well as an influx of global visitors and investors, and Sky Villa represents the epitome of their home aspirations.” To learn more about the main types of housing in Cambodia, refer to our Cambodia expat guide.Article by:

Aerial view of a housing development in Cambodia

Cambodia’s total mortgages near $3.5B

June 6, 2022, 5:02 p.m.

Mortgage loans in Cambodia continue to surge this year, according to Credit Bureau Cambodia (CBC). The credit body’s consumer report showed that outstanding mortgages hit $3.42 billion at the end of June.CBC’s data showed that loans have increased by 30 percent from the same time last year. Mortgage loans make up over 47 percent of the total consumer credit in the country, which hit $7.16 billion at the end of June.Mortgage customers are also growing, albeit at a somewhat slower pace. CBC’s document noted that there were 131,376 mortgages at the end of June. This represents an increase of 19 percent over June of 2018.So Phonnary, executive vice president at Acleda Bank, said that the 30 percent growth of mortgages is positive for the industry. She claimed that opportunities for homeownership are expanding as incomes rise and the economy develops. “We are seeing more growth in the mortgage industry. But, at the same time, we are always careful about development and we mitigate risks by balancing loans across many sectors.”According to Phonnary, Acleda’s housing loans, home improvement loans, and real estate loans together hit $273 million at the end of June. This sum was held by 7,913 customers at that time.While loan terms differ from one bank to another, she said that annual interest rates have, on the whole, fallen. Phonnary attributed this to greater competition in the marketplace.Cambodia upgrading to more comfortable lifestyleNuon Rithy, chairman and CEO of Khmer Appraisal Foundation (KFA), said that there has been good cooperation between the financial and real estate sectors in Cambodia. The two industries, he said are growing rapidly in parallel.Rithy reflected on the changing demographics of the country, adding that more people are entering adulthood and wanting to live more independently than their parents did. “Before, when people had lower incomes, the biggest concern was having enough food to eat … Now people have higher incomes and they want to upgrade to a more comfortable lifestyle.”Even those who could already afford to own a home are now upgrading to larger homes, or homes in better locations, he said.Officials concerned over high-interest mortgagesOne caveat to the CBC’s report, however, is that it only accounts for mortgages taken through financial institutions. It is very common in the Kingdom to enter into a payment plan with the home’s developer. This is particularly popular for boreys, the landed homes that are usually built in large subdivisions. The popularity of developer-issued mortgages has exploded in the Kingdom over the last few years. Typically, these are 25-year contracts and rarely require down payments. Though these mortgages initially appear attractive to buyers, interest rates can often double or triple the sticker price of a home. Meanwhile, Cambodia’s banks usually require down payments of at least 30 percent and involve lengthy checks on credit history and repayment ability. Interest rates for these mortgages clock in at around seven to 12 percent.Late last month, an official from Cambodia’s central bank expressed worry over high-interest loans in the Kingdom, warning buyers to carefully consider a mortgages rate before signing.To learn more about Cambodia's changing demographics, read the demographics section of our Investment Guide 2019.Article by:

First B&R Engineering Business Matching announced for this month

First B&R Engineering Business Matching announced for this month

June 6, 2022, 5:02 p.m.

The FIRST B&R ENGINEERING BUSINESS MATCHING will be held on August 22, 2019, at the Cambodiana Hotel in Phnom Penh, hosted by the Engineering & Home Procurement Association (Cambodia)Cambodiana HotelIt is going to bring together a large number of Chinese-funded enterprises, including HGB Group, Realestate.com.kh, 58cam.com, Fujian Construction Material & Furniture Commercial Association, Fujian Real Estate Commercial Association, Office of Fujian Custom Home Industry Association to ASEAN, Fujian Capital Confederation, Wangni Enterprise Group, Tuojie Equity Investment Fund Management Co., Ltd., Zizuan Investment Management Co., Ltd., Yaojie Asset Management Co., Ltd., Hongding Commercial Real Estate Co., Ltd., Jiujie Home Technology Co., Ltd., KVBC Global Trade Center and many more.Focusing on general aspects of real estate, 35 prestigious enterprises from mainland China, Hong Kong and Macao have been selected to present at the show. These companies cover more than 13 industries, such as ceramics, waterproof material, lighting fixtures, wallpaper and furbishment, glass and stone, classic furniture, intelligent device and architect. Meanwhile, experts from the Cambodian real estate sector will provide inside analysis of the local housing market, as well as their experiences of success in project operation.Many real estate developers have agreed to join the exposition. Many participants are involved in local projects worth at least $800 million, most of which expect to be completed or break ground next year.Every exhibitor at the expo will automatically become a member of the Engineering & Home Procurement Association (Cambodia) for free. The association will regularly invite developers to their group inspections and other activities, through which their members can cooperate with the organiser to promote information about project procurement to requesters.Espousing a mission to boost competitiveness among its members, the association will interact with the government, real estate associations, major chambers of commerce and industry organisations to achieve mutual benefits through various forms of cooperation such as resource integration, information sharing, coherent marketing campaigns among members.The FIRST B&R ENGINEERING BUSINESS MATCHING will be held for one day, and will consist of sessions including product presentations, business banquets, industry forums and other activities. Officials from relevant government departments will be invited to the opening ceremony of the event.The booths at the expo will be laid out by regions where the exhibitors come from rather than industry sections they belong to. Thus, the enterprises of same or relative category are reasonably dispersed in different groups. This professional arrangement can effectively guide buyers to every exhibitor for unimpeded information exchange before closing a deal.This exclusive event will bring high-standard hospitality at a reasonable cost. It is a good chance to reach high-profile leaders in the sector. A dinner party as the epilogue of the event will surely build a good rapport for further connections among participants! If you're interested in learning more about real estate in Cambodia, be sure to browse through our Investment Guide's overview of the Kingdom's real estate sector. Look for real estate for sale in Phnom Penh now!

Huangshan International to bring unique multi-purpose development to Cambodia

Huangshan International to bring unique multi-purpose development to Cambodia

June 7, 2022, 7:09 a.m.

Huangshan International is a newly inaugurated high-end mixed-use project in Phnom Penh by Huibang International Investment Group. It consists of residential condominiums, offices, and star-rated hotels. It comes with catering services, leisure & business centre, which is set to add some uniqueness and refinement in the real estate market of the Kingdom of Cambodia.Huangshan International will definitely be an excellent choice for the Cambodian people, expatriates and visitors to Phnom Penh from all over the world for its various functions and strategic location. Every unit in Huangshan International is designed to simply fit in hotel rooms, offices, apartments and more.Sitting in the heart of the Bassac community, this development has a lot of potentials and that means it could bring a high return on investment to buyers. Because this area might become the ‘Marina Bay’ of Phnom Penh as some people believe, it is becoming more attractive to expats, tourists and young Cambodians for its amazing nightlife. The 47-storey tower will stand on National Assembly Street, adjacent to the Parliament of Cambodia and embassies of many countries. Within 5 minutes walk, you will reach some of the most remarkable landmarks of Phnom Penh city such as the Royal Palace, the Riverside, the Independence Monument and many more. And the neighbourhood is home to many top-tier hotels and the city's largest shopping mall, the AEON 1.This project is home to a wide range of residential unit types from studio apartments to 4-bedroom and 6-bedroom luxury penthouse, sizing from 46-227 sqm, among which one or two-bedroom is the majority. The apartments will be turn-key homes that come with international high-quality decoration and home configuration to serve different sizes of families or those who live by themselves Unit price starts from $2,574 per sqm.More importantly, Huangshan International will be built in a structure of concrete core wall and column grid, and non-shear-wall that can support an ingenious floor plan for flexible adaptation for various purposes. Each floor is 3.3 meters in height, available for multiple-purpose use. The building is equipped with six high-speed elevators for passengers and one specially designed for vehicles that will effectively ease the general traffic inside the complex.The top floor is the highlight of the building, which features an exclusive club. It is a duplication of the classic Huizhou design that is a new concept to Phnom Penh. It provides tailor-made in-house leisure services at the salon, tea house, kitchen and even the theater. For more Chinese style way of living, you may even enjoy the physical charms and spirits traditionally derived from the southern bank of the Yangtze River in the landscape garden or at a traditional Chinese therapy club here.The property will be managed by the Huipai Golden Key established by the developer. Their excellent services include housekeeping for overseas owners. Of course, there will be 24-hour security, security cameras and alarm system to ensure the residents’ safety and peace of mind. The Huipai Golden Key is determined to deliver high-quality property service that resembles the Fairmont Peace Hotel in Shanghai.Huibang·Huangshan International hosts 670 residential units and is developed by Huibang International Real Estate Development Co., Ltd., a subsidiary of Huibang International Investment Group. It is expected to be completed by the end of 2023. It offers 9 types of refined apartments on global sales!The showroom is located on 168 National Assembly Street, Sangkat Bassac, Chamkarmon District, Phnom Penh (next to Huangshan Hotel).For more information: please call us now +855 92 92 1000 or email: info@realestate.com.khStay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android.

Embassy district phnom Penh

Three offbeat ideas for improving Phnom Penh public spaces

June 6, 2022, 5:02 p.m.

Phnom Penh is a diverse and dynamic city that has so much to offer. However, it’s clear that the capital is lacking in parks and other public spaces. There are only a couple of areas of the city where people can gather and socialise. These include strips along the riverside, Preah Sumarit Boulevard and Russian Federation Boulevard. These places fill up quickly as soon as the sun goes down. Children come to play games, teenagers ride skateboards and adults exercise by playing badminton or doing dance aerobics. Indeed, the popularity of these areas in Phnom Penh shows there’s high demand. People want to get outside and participate in activities. It goes without saying that playgrounds and public parks play a vital role in the social life of local communities. They promote both mental and physical wellbeing. Public spaces go privateWith these benefits in mind, many real estate developers are including communal spaces in their designs. Many of the most popular developments in the capital include retail space and landscaped plazas. Names such as Urban Village have gone even further by including playgrounds and activity spaces in their complexes. These all tend to be community-focused in nature. The real innovators are providing the maximum amount of public access in order to ensure the best results for both the residents and businesses that call the building home.Despite suffering from a scarcity of public spaces, privately-funded areas in Phnom Penh are stepping in to shape the development of the city. These spaces are fulfilling the need for people to socialize and help establish communities in their part of the city. And it’s not just the residential developments reaping the benefits, either. Shopping malls are cashing in by creating public spaces adjacent to retail shops. Toul Kork’s TK Avenue and the upcoming Noro Mall are two prime examples of this. Everyone has heard about the massive floods that have hit Sihanoukville over the past few weeks. Just next door, in Thailand’s capital of Bangkok, public parks are a lynchpin of their flood defense strategy. Studies show that trees significantly reduce the heating effects of dense cities and can reduce ambient temperatures by as much as 15 degrees. Three ideas for improving public space in the capitalPhnom Penh-based architecture and design firm COLE is interested in pushing forward the development of public spaces in the city. With all the above issues in mind, COLE has drawn up three (slightly off-the-wall) ideas for creating more green space in the capital: 1. Open up temple groundsImagine removing the walls around these magnificent temples and replacing them with trees. You could give people great places to sit and enjoy the bustling street life.Check out the map above where we plotted some of the biggest pagodas in the city. Opening them up would ensure that almost every neighbourhood has its own dedicated public space.2. Create pedestrian streetsStreet 240 would make a great pedestrian priority zone. This could be done by creating a green walking loop between the Royal Palace and Independence Monument. Tourists and locals alike would relish the chance to stroll between the two sites.3. Make a unified Embassy DistrictCreating a new Embassy District would free up prime land which is already landscaped. This would add both pocket parks and large centrally-located parks for all Phnom Penh residents to enjoy. Another benefit of creating a new Embassy District would be the rejuvenation of an outlying area of the city. It would bring more people, and business there would flourish.Interested in design and architecture in Cambodia? Read David Cole's last guest article on the rise of coworking spaces in Cambodia.David Cole is the founding partner of Building Trust International and principal at COLE, an architecture and design practice with offices in Phnom Penh.

Huibang Huangshan International project cleared for takeoff in Phnom Penh

Huibang Huangshan International project cleared for takeoff in Phnom Penh

June 7, 2022, 4:47 a.m.

Early this month saw the launch of a project that is set to become a landmark of Cambodia’s capital.On August 2, Huibang Huangshan International was launched with an event at Phnom Penh’s Huangshan Hotel. The dinner event was presided over by Oknha Hun To, Oknha Chea Soeun, Mrs Hun Kim Leng and several other high-profile guests. The elegant event was styled around an aviation theme as the nearly 300 guests crossed the “runway,” passed through a “boarding gate” and were greeted by flight attendants. Mr Chao Shen, the executive chairman of Huibang International Real Estate, gave the evening’s address. “We are pushing forward a new path for real estate development in Phnom Penh. We aim to bring more international-grade and high-quality spaces for tens of thousands of families,” he said, adding that Huibang Huangshan International will spearhead this new concept.Details of Huibang Huangshan InternationalThe newly inaugurated project sits in a blossoming area of the capital. Squarely in the Tonle Bassac neighbourhood, the residence is surrounded by the Australian Embassy as well as tons of international amenities, restaurants, and residences. All the major tourist attractions of the city are within arm’s reach. These include Independence Monument, the Royal Palace, National Museum, Wat Phnom, Central Market, Russian Market and Tuol Sleng Genocide Museum. There are also six major state institutions in the vicinity.As if that weren’t enough, there are also plenty of high-end supermarkets, luxury hotels, international schools, and hospitals in the area. Diamond Island, one of the most quickly growing business hotspots, is right next door.Amenities outside are matched by superb facilities inside as well. Huibang Huangshan International boasts a massive lobby, huge parking lot, swimming pool, fitness room, restaurants, KTV and high-end clubs. All these things add to the lifestyle standard for the building’s residents. Learn more by visiting the Huangshan International property listing here.Learn more about the industries that make up Cambodia's economy in our Investment Guide 2019.

A construction worker leans on a stack of bricks at a Phnom Penh construction site in 2017.

Brick prices stable after 2018 price surge

June 6, 2022, 10:56 p.m.

Cambodian brick prices have been stable over the last 18 months. Industry insiders say that supply has finally caught up to rising demand, which caught the industry off guard in early 2018.According to Chheang Suyheang, a representative for over 100 brick kiln owners in Kandal province’s Mukh Kampul and Khsach Kandal districts, prices haven’t risen significantly since early last year. Suyheang said that bricks in Kandal province, the Kingdom’s main region for domestic masonry, are currently going for $400 per 10,000.This price, he said, has remained the same for over a year. In early 2017, however, 10,000 bricks were going for just $180. That figure rose to $300 by late 2017 and jump to $400 in March of last year. According to Suyheang, the spike in demand came from huge construction orders out of Sihanoukville, Kampot, Phnom Penh and Poipet. “Many brick kiln owners have expanded production as they see growing demand. Those who used to have only two kilns now have four. Those who had four now have six,” he said, adding that they have kept prices low to compete with brickmakers from Vietnam. Suyheang estimated that there were currently around 300 brick kilns in Cambodia, each capable of turning out at least 100,000 bricks a day.Cambodia still reliant on importsCambodia has seen a massive influx of foreign direct investment (FDI) over the past few years. Indeed, the real estate, construction and hospitality industries are some of the main recipients. The brick industry has benefited from a building boom that has seen new shopping malls, office blocks, condo towers and more.During the first six months of this year, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) approved over 2,000 construction projects with an estimated investment value of more than $3.3 billion.Residential and commercial projects made up the largest portions of the approved projects, accounting for $1.5 billion and $1.07 billion, respectively. Chiv Sivpheng, general manager of the Cambodia Constructors Association, said Monday that economic stability, FDI and real estate progress have all contributed to the growing demand for construction materials. He noted, however, that Cambodia was still heavily reliant on imports for other construction materials such as steel and interior fixtures.“We want to see our local production grow stronger so that we can produce more things domestically and become less reliant on imports.”Learn more about the industries that make up Cambodia's economy in our Investment Guide 2019. Article by:

The Gateway offers 3% discount as building capped

The Gateway offers 3% discount as building capped

June 6, 2022, 5:02 p.m.

The Gateway complex in Phnom Penh’s Toul Kork has hit a turning point. Recently, construction of the top floor was completed. Handover is expected in December of this year and 80 percent of the buildings are already sold.To commemorate this final stretch to the finish line, The Gateway is offering a special offer to those who stop in to their sales office. Until the end of this month they are offering a massive 3 percent discount. Don’t miss it!This amazing mixed-use complex sits right off the capital’s bustling Russian Boulevard. It’s is tailored to the on-the-go lifestyles of international business moguls. The complex spans both a 36-storey office tower with 299 strata-titled units, and a 39-storey condo tower with 572 units.Condo units range from one to three bedrooms or 52 to 110 square metres in size. Prices start at just $167,000. When considering all the amazing features this building has, that’s a great deal. Owners have access to a two-storey retail mall, massive office tower and so much more. The Gateway is nearing completionFor those following along on the action, The Gateway is receiving its finishing touches as we speak. Construction on the top floor recently concluded and interior construction is finishing up. Around half of the exterior glass is already in place. The interior design of all the common areas is moving ahead full steam. These facilities are some of the best luxuries you’ll find in the city. There’s a fitness centre, tranquil swimming pool, luxurious lobby, sauna, communal gardens and plenty of lounge space. Indeed, The Gateway is on the final stretch. Handover is expected to begin in December of this year. Full owner transfer is set for just one or two months after that. Units at The Gateway selling fastPeople have seen the benefits of this spectacular building complex. Around 80 percent of the condo units here are already sold. There are less than 100 units left, which isn’t a lot. After they’re gone, owners are sure to hold them for years and years.Now is your chance to get a piece of this property with an amazing discount. After the news breaks about the coming handover, these last few condos will sell out quickly.Stop into The Gateway’s sales office today to hear about their amazing promotion to commemorate the coming completion. If you're interested in learning more about real estate in Cambodia, be sure to browse through our Investment Guide's overview of the Kingdom's real estate sector. Look for real estate for sale in Phnom Penh now!

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