Annual Press Conference 2017 in Phnom Penh  Construction and automotive industries key growth sectors for Bosch Bosch Automotive Aftermarket achieved record-breaking triple-digit growth Increasing brand awareness through multi-channel corporate brand campaign of how Bosch helps make a difference in CambodiaUp-skilling of more than 100 trainers and trainers-to-be in 2016 through vocational training Phnom Penh, Cambodia – Bosch, a leading global supplier of technology and services, registered strong sales growth in Cambodia for fiscal 2016. The company has been growing at a double-digit rate since establishing its presence in the country in 2010. “Cambodia continues to be an important growth market for Bosch in Southeast Asia, thanks to the steady economic growth of the country at around seven percent, particularly in the automotive and construction sectors,” said Andre de Jong, Managing Director of Bosch for Cambodia, Laos and Myanmar.    Strong development across all business divisions Bosch’s Automotive Aftermarket division was the main contributor to the company’s overall growth in Cambodia in 2016. It achieved a record-breaking triple-digit growth, boosted by the country’s growing automotive market. According to the Ministry of Public Works and Transportation, the number of registered vehicles in Cambodia reached 3.7 million in 2016 - a 16 percent increase year-on-year. “Cambodia’s automotive landscape is diversifying in terms of the number of makes and models of vehicles in the country. Bosch is supporting this trend by expanding our product range offered in the country,” said de Jong. “In parallel with the enhanced efforts of the Ministry of Public Works and Transportation to improve the safety of trucks, we are also expanding our portfolio to bring in a wider range of equipment and machinery spare parts (off-highway product segment).”  The Power Tools division maintained its momentum of positive growth, largely buoyed by the kingdom’s growing construction industry. By end 2016, total investment from approved construction projects in Cambodia had increased by over 140 percent compared to 2015. This amounted to USD 8.5 billion from more than 2,600 projects. “Bosch aims to contribute to the technological advancement of Cambodia’s construction industry. To support this booming sector, builders must have access to the right tools. In 2016, we therefore launched the “Heavy Duty” power tools series, a range of precise and long-lasting tools specifically tailored for heavy duty construction work,” said de Jong.  The flourishing construction industry also presented opportunities for the Security Systems division to offer safety and security solutions for property developments such as condominiums, offices, and hotels. The division registered a strong double-digit sales growth in 2016 compared to the previous year, with security cameras and access control systems as the main drivers.  The Drive and Control division performed well in 2016, too. The division currently offers solutions for the manufacturing, agriculture, mining, energy, and construction industries. Bosch has also broadened its product offerings in this area, to include frequency converters to help increase a building’s energy efficiency.    Building a strong corporate brand in Cambodia  To support long-term growth in the country and to heighten awareness of the company’s business activities and local presence, Bosch launched its first Southeast Asia-wide corporate brand campaign last year with the slogan, “We help make a difference”. Brand-building activities carried out in Cambodia. mainly focus on digital media including a microsite with a connected Facebook app that is linked to other touch points in print, television, and outdoor brand placement on billboards, buses and bus shelters. In 2017, Bosch is set to roll out the second phase of the campaign with details to be informed at a later date.     Enhancing the quality of life for the local community  Bosch’s corporate philosophy of enhancing the quality of life extends beyond its business practices to social commitment in the countries where the company operates in. In Cambodia, Bosch has been actively providing vocational training to trainers and trainers-to-be from various vocational training entities since 2010. In 2016, Bosch provided training to more than 100 participants, and donated its products to vocational training centers. “Bosch has had a long heritage in supporting vocational training. It is our lifelong commitment and passion to help make a difference to the local community by imparting technical know-how and skill sets,” said de Jong.  Bosch Group: Global strategy and business outlook for 2017 For 2017, in light of a subdued economic outlook and geopolitical uncertainty, Bosch aims to achieve sales growth of between three and five percent. And despite still heavy upfront investments in safeguarding the company’s future, results are set to rise. “Business success today gives us the leeway to shape tomorrow’s world,” said Dr Volkmar Denner, Chairman of the Bosch Board of Management. “As an innovation leader, we are shaping and driving transformation,” Denner added. The focal points of this transformation are changes in the mobility sphere and IoT connectivity. By 2020, all Bosch’s new electronic products will feature connectivity. The key to this is artificial intelligence (AI). Over the next five years, Bosch will be investing 300 million euros in its own center for artificial intelligence. In Asia Pacific, Bosch recorded a hefty 8.3 percent increase in sales in 2016 to 20.8 billion euros (exchange rate adjusted +12 percent). Bosch now generates 28 percent of its total sales revenue in Asia Pacific compared to 27 percent in the previous year.  Find outthe best real estate news on Realestate.com.kh

The concept of a co-working office space has been around for quite some time and is finally increasing  in popularity in Cambodia to satisfy the country’s short-term rental space demand. Most of co-working spaces offered are foreign companies that have progressed tremendously in just a span of a few years. Those shared spaces have become very popular among individual or groups of entrepreneurs, startups, and small businesses. Co-working space is a new trend entailing a shared working environment, often similar to an office. Unlike in a typical office environment, these co-working spaces are usually not occupied by the same organization or company. There has been an increase in working space of this type both in Phnom Penh City and Siem Reap province. Some of the co-working spaces in Phnom Penh are Impact Hub Phnom Penh, Small world, Colap and a lot more. Meanwhile, Siem Reap has The 1961 Co-working & Art Space, and Angkor Hub.  Although co-working is still quite a new concept in Cambodia which begun in 2015, Olivia Hough, Chief Operations Officer (COO) at Impact Hub, stresses it has proven very popular for two years, saying: “we have expanded three times. It is likely to continue to grow as a trend as the startup scene continues to grow in Cambodia. We wanted to support and enable Cambodians to start their own social businesses.” Ms. Olivia explains Co-working is like an open plan office, with the difference that anyone can join. Our community at Impact Hub is made up of techies, creatives, NGO workers, entrepreneurs, freelancers, or writers, etc. It's very diverse, meaning you can work in a quiet environment with fast internet and like-minded people for a membership fee. It's also a great place to network and meet new people. Meanwhile, Mr. Ham Kimhoun, training director of Wecreate Cambodia, said: “Although new a  trend, co-working space is the office for everyone who is working long-distance, individuals, or small groups of people. Co-working office space offers a special and flexible environment as usually they include training, networking, referrals, and a venue for open discussions.” In fact, Co-working spaces in Cambodia are offering a good opportunity for Cambodians to meet people from different fields, allowing them to learn and exchange different business ideas.  Siem Reap, a multi-national melting pot, offers great opportunities for co-working spaces with a lot of encouragement and motivation. Mr. Loven Lamon, managing director of The 1961 Co-working and Art Space based in Siem Reap, said: “There is great potential for co-working office space in the Cambodian market. And Siem Reap comes second after Phnom Penh since it has many tourists, foreigners and young people in the area. with The 1961, members are also able to access more services and facilities such as meeting rooms, private skype rooms, and other wide range of rooms that can be used as needed.”  Mr. Loven added that The 1961 was converted in 2014 from a hotel to a co-working space. This was because they saw this growing trend, noticing many of business ideas from young people and didn’t have sufficient resource to rent an office space. Regarding rental price, Olivia said price for full-time membership is $60 a month, and part time (access to the space three times a week) $35. Members can also choose to have their own fixed desk with a locker for $150. For Mr. Loven, the price depends on the need of members: if a member needs to use the place for a day is $5, three-days $10, one week $20 and one month $100. This is the price for low season but it can go up during the high season. However, this price is still cheaper than working in their own office, or coffee shop, which won’t offer high internet speed and flexible environment. Co-working space is not a 100% real estate commitment, but it is a place where people can first prepare their business before they’re ready to occupy the actual office building for establishing the company. So, co-working space prepares the real estate market to accept actual business, according to Mr. Loven. Co-working spaces is not just a shared office, is more of a new community of like minded entrepreneurs and young business people. It offers a great opportunity to learn and grow connections. As the startup environment is not likely to stop any time soon, we can only foresee a further increase of co-working spaces.  Looking for office for rent in Cambodia? Find it on Realestate.com.kh!

Despite the upcoming parliamentary election, land prices in Sihanoukville keep rising as infrastructural developments and major investment announcements buoy investor and local seller confidence. However, some market insiders believe these prices are moving faster than demand. In an interview with local media, Oknah Cheng Kheng, ceo of Cambodia Properties Limited (CPL) said, “land prices in Sihanoukville are climbing because of the nonstop flow of investors, especially Chinese investors.” The Sihanoukville Special Economic Zone (SSEZ) is an ideal example of Chinese capital reshaping the coastal region. According to CBRE Cambodia’s Special Report on Sihanoukville, “it is estimated that at its completion, the SSEZ will be home to over 300 factories employee 80-100,000 people.” The same report also indicates four new major condominium developments that will contribute to the market’s residential supply as soon as 2018 hits. Echoing Mr. Cheng's view, Cambodian Valuers and Estate Agents Association (CVEA) president, Kim Heang, in a local media report said that this year was a peculiar case, with trade in Sihanoukville property still active despite the upcoming election. This is contrary to the past when property trade came to a standstill in the months before elections. Yet, some market insiders suggest that high land prices in Sihanoukville, in particular around the beach areas, are being pushed up by unfounded speculation. According to Brad King, Managing Director at Cambodia Real Estate, a Kampong Som based brokerage, landholders in central Sihanoukville see major development happening around them and assume their land has also now doubled in price. “But usually it’s not the case,” says Mr. King, “with their land being inferior to post development land as it lacks base infrastructure such as water and electricity connectivity.” The especially high land prices apply to beach areas from Hawaii Beach all the way to Otres 3, says Mr. King, with prices anywhere from $1000 per square meter up to $2500 per square. According to Mr. King, even just two streets back from the beach, prices start at $300 to $750 per square meter. Sihanoukville foothills with small views start at $80 per square and go as high as $750 per square for unobstructed sea view land. “With the majority of beach plots being over 1 hectare, the entry level prices on the beach is $10,000,000 USD for 10,000 square meters,” says Mr King. “Other than this, you can find the odd plot under 1 hectare, but the prices are usually above the “average”. For example there is a one 5000 square meter plot left on Otres Beach for $1,250,” continues Mr. King. Mr. Den Sakal, ceo of Universal Real Estate, said that a Chinese investor has bought a considerable section of Otres Beach land shortly after Khmer New Year. In reply to this investment, land prices around the project plot rose very quickly.  According to Mr. Den, land prices on the Otres beach front have risen as high as $1,250 or $1,300 per square meter in some cases, buoyed by the confidence of a major Chinese development underway. However, Mr. Den notes that land transactions in the Otres area have not increased alongside the price increases. The rising prices are driven by local landowner speculation and it is unclear whether the sale prices will reach these heights.  Mr. Den suggests that this type of speculation will create a bubble in the market only suitable for Chinese buyers willing to pay exorbitant prices - and will freeze other investors interest in the area, both local and international.  There are 3 plots on the main road to Sokha Beach that are prime plots for development and still below the current market prices, notes Mr. King. These plots range from $550 to $750 a square meter with the size from 3,800 to 10,000 square meters, just minutes from Sokha Beach. Yet, the reason these plots are priced at “last year's prices” is due to the owners living abroad and not following this year’s price increases, says Mr. King. “Beach Land prices in Sihanoukville should not be as high as similar destinations in Thailand and the Philippines quite yet, as there is no supporting infrastructure in place to warrant those prices,” believes Mr. King. And while CBRE mentions in their report that, “The downtown area provides many services including international banking, medical, post office, business services and shopping,” Mr. King says that “the roads in Sihanoukville are in bad shape, there is no major shopping center, no quality entertainment, the hospitals are underfunded and not up to an international standard that gives investors confidence; and although the airport is becoming “international” it is far from happening yet.” Mr. King believes “the prices of land suitable for the small investor or retiree have slowed the growth rate of Sihanoukville - as it is out of reach to 90% of the western foreigners looking to retire or buy a holiday home there. This means the land on offer to the market is either too big for the average buyer and/or too expensive.” “The whole market is in a development cycle and hopefully some of the major landowners will see the long term benefits of developing mid range to high end villas and apartments which will give Sihanoukville long term sustainability in all seasons,” Mr. King said. For smaller investors Mr. King recommends buying established houses or established apartments built prior to these high land prices becoming the norm. If you want land, “look into the foothills or look at smaller blocks along back streets. Here there are plots of land for under $80,000 and below that are perfect for villas and/or apartments.”  All property for rent and sale in Sihanoukville!

Located at street 228 corner street 55, Sangkat Chaktomuk, Khan Duan Pen, Phnom Penh, the Lumiere Hotel is a lush and unique building among the crowd. The recently opened 4-star hotel, goes up to a total of 15 floors, offers a stunning sky bar at the roof top and a unique and modern design. Although this hotel was developed by a Singapore-based investor, it was designed and constructed by local Cambodian firms. SOMA Construction & Development Co., Ltd, is a local construction firm that performed as main contractor during the construction of the Lumiere Hotel from foundation, super-structure, MEP and finishing works. The construction work started in August of 2015 and was completed in January 2017.    For up to date news and information, visit our news section at Realestate.com.kh now!

Turnkey Design gives young entrepreneurs, startups, business owners, and investors the most comprehensive range of design services within the market of Cambodia.   Turnkey Design was founded by young Cambodian entrepreneurs, aimed to apply the skills and knowledge they have acquired in their home country: Cambodia. Having been working in consultant sectors, they have noticed the increasing competition within the industry and a greater need for standards improvement. In order to find out more about the company, Realestate.com.kh met up with Ms. Oum Chanvatey -- its co-founder, Account Director, in client services sector. When asked why they created the firm, Vatey stated that “As a double degrees graduate from Cambodia myself, I have always wanted to build my own brand in Cambodian market.” 2 years ago I met my business partner who graduated from abroad and happened to have the same passion as mine so we founded “Turnkey Design” and has a very high commitment to working closely with clients to provide the best standards of design, as well as to meet the client’s needs.” Vatey added, “We see a lot of design firms in Cambodia, but most of them belong to foreigners, and we think that Cambodians also have the capacity to do so, and this is  why Turnkey Design was created. The purpose of our company is to bring nothing less than international standard design services to Cambodia’s market.” Vatey also explained, “Even if this business has just been running for couple of years, we are supported by both local and foreign customers; in fact most of our clients are foreigners. This is because our team works hard to understand what the clients want and what are their needs. More importantly, we don’t only focus on design: we also provide consultations to customer and create new creative concepts.” “We believe in professionalism and we provide high quality work to our valued customers, and unique designs are one of our strongest points” confirmed Vatey. Called “Your Absolute Design Platform,” Turnkey Design is mainly focusing on three prominent design services that include: Graphic design, website design, and architectural & structural design. Turnkey Design has the right team to design beautiful and user friendly websites -- with application experience and clear versions through appropriate technology. In terms of graphic design, the company provides services such as designing logo, designing branding design such as name cards, shop signs, packaging, and all related marketing materials design. As for architectural designs, the company offers structural and interior design, not only interior design but also building’s exteriors, front yard spaces, car spacing, etc. Whether it’s a technical consultation or a platform design for any business, Turnkey Design has the capacity and the expertise to accommodate their client’s needs. “Discipline, timing, responsibility to produce quality product with an affordable price are what Turnkey Design guarantees to its clients to establish mutual trust and confidence” added Vatey. “Besides working towards the company’s growth, Turnkey Design also intends to  employ more young people in Cambodia.” Vatey suggested that “I see a lot of potentials in our young people creativity. All they need is a chance to showcase their talent and as Khmer people, I feel the need to give them the shot to shine.” Vatey added “Their design’s quality is not bad, in fact if we look closely, the creativity of their design has the same international standards quality at those applied at foreign companies; they just need the channel as well as the market to showcase their design”. “We are ambitious. We will never stay in one place and always try to grow our company. In the future, we aim to expand our services outside of Cambodia — to South East Asia and also other parts of the world,” said Vatey. Find the best real estate news on Realestate.com.kh!

Cambodia is rapidly growing in terms of real estate -- attracting both local and international property developers and investors from across the ASEAN. With a constant GDP growth and investment growth prospects, Cambodia has great potential for small to large scale developments. The country has also changed in terms of real estate and construction. New developments are now offering a very convenient way of living. Expats are also now allowed freehold ownership. Developments are now also moving from Phnom Penh out to both Siem Reap and Sihanoukville. So, purchasing property in Cambodia may be ideal at the moment for both local and international investors who have a better understanding of potential investment opportunities.  Cambodian Valuers and Real Estate Agents Association (CVEA) is working towards showcasing all those properties in the country and presenting them to the world. As such, CVEA is organizing its first and biggest yearly real estate exhibition and convention. It will be held in two weeks at Sofitel Phnom Penh Phokeethra. It will last 3 days -- from the 23rd to the 25th of June 2017. Dr. Kim Heang, the President of CVEA, said that “the Cambodia Real Estate Expo and Convention is aiming to promote Cambodian real estate to the international market and also to train relevant members of the industry to better understand the land and residential market of the Kingdom. Dr. Kim added, “This exhibition is a national event, but it will be attended by international visitors and speakers who have a wide range of experience from their many years in the international real estate market.” Dr. Kim Heang explains, “This event is going to promote Cambodia’s real estate as a whole. That means that it’s not just going to advertise the projects of partners, but also other developments in Cambodia. There are around 6 project developments exhibiting over the three-day-event. These  include: the Orkide Villa, Borey Chip Mong Land, Borey Peng Huoth, Penthouse Residence, Surin Phumi Project, and CPL Properties Limited. There will also be some training sessions at the event that will cover a variety of topics. They will be presented by major speakers hailing from Cambodia and eight other Asean countries. The speakers are: H.E, Ngoun Sokha; Secretary General of State at the Ministry of Economy and Finance; Sok Siphana, Managing Partner at Sok Siphana & Associates - a member of ZicoLaw; Chenyi Chiu, General Manager of TK Royal One and Advisor to CVEA President; Dato’ Seri Kee Yong Wee, a Former Malaysian Chinese Association Youth Leader from Malaysia; Oknha Ly Hour, President of Housing Development Association of Cambodia; Mr. Harry Yeo, President of the Institute of Estate Agents Singapore (IEA); Mr. Erick Kho, Past President of Malaysian Institute of Estate Agents (MIEA); Dr. Sopon Pornchokchai, President of the Thai Appraisal Foundation; Mr. Hartono Sarwono, President of Assiasi Real Estate Broker Indonesia; Mr. Nguyen Tran Nam, President of Vietnam National Real Estate Association (VNREA); Mr. William Floresta, Senior Vice President of the Philippine Association of Real Estate Boards, Inc. (PAREB); Mr. Khin Maung Than, President of the Myanmar Real Estate Service Association (MRESA); Oknha Cheng Kheng, Chairman of the Cambodian Valuers and Estate Agents Association (CVEA); Oknha Sear Rithy, Chairman of Worldbridge Land; Lok Chumteav Okhna Lim Chhiv Ho, owner of At WOOD and PPSEZ.   The event is sponsored by Realestate.com.kh and La Reine. All Cambodia TV channels will also be invited to the event.  Topics that will be discussed during the event include the following: 20 Years of Real Estate Industry in Singapore 2007-2017 & 2017-202720 Years of Real Estate Industry in Malaysia, 2007-2017 & 2017-202720 Years of Real Estate Industry in Thailand, 2007-2017 & 2017-202720 Years of Real Estate Industry in Indonesia, 2007-2017 & 2017-202720 Years of Real Estate Industry in Philippine, 2007-2017 & 2017-201720 Years of Real Estate Industry in Vietnam, 2007-2017 & 2017-202720 Years of Real Estate Industry in Philippine, 2007-2017 & 2017-202720 Years of Real Estate Industry in Myanmar, 2007-2017 & 2017-202720 Years of Real Estate Industry in Cambodia, 2007-2017 & 2017-202750 Years Experience in Real Estate in ASEANSuccess of Borey Vimean Phnom PenhSuccess of the PPEZThe Importance of Construction Safety for High Rise BuildingsRole of Cambodia in the Asean region Registration is required for the event. Admission is at $100 per one attendee. The price will include two lunch meals and four cups of coffee for breaks at Sofitel Phnom Penh! Find the best real estate news on Realestate.com.kh

As already announced, Thai Boon Roong Twin Tower will be built in Phnom Penh - and once completed, it will be the tallest building in ASEAN. The construction is set to officially start the 1st of August, 2017. The upcoming skyscraper is a joint investment between the Thai Boon Roong Group and real estate development in Macao, Sun Kian Ip Group. It will be build by Construct by Hsin Chong Construction Group Ltd and the cost of the overall project is estimated at approximately $ 3,000 million. On April 3rd, 2017 the Prime Minister Hun Sen announced the permission to build the skyscraper Thai Boon Roong Twin Tower, which will be 550 meters tall and will feature 113 floors. Due to his height, the building can be regarded as the tallest building in ASEAN. When the Twin Tower project will be completed it will have to compete with a number of buildings in the ASEAN countries. Other skyscraper projects in the region include: MahaNakhon  in in Thailand, with a height of 313 meters, Petrovietnam in Hanoi 528-meter, Petronas Tower in Kuala Lumpur, which has a height of 452 meters, and GAMA​ in Jakarta, 289-meter tall. When the Twin Tower project will be completed it will have to compete with a number of buildings in the ASEAN countries. Other skyscraper projects in the region include: MahaNakhon  in in Thailand, with a height of 313 meters, Petrovietnam in Hanoi 528-meter, Petronas Tower in Kuala Lumpur, which has a height of 452 meters, and GAMA​ in Jakarta, 289-meter tall.  Once completed, this large commercial building is likely attract the interest of international companies, which have not established their presence in the Kingdom.  Please find out more about the project on Realestate.com.kh

A lot of activities have been brewing beneath the surface as the Asia Pacific region is being propelled into greater heights. But in the strings of this region’s interwoven fate, one small move can have serious implications for all. So, how exactly has the Asia-Pacific been keeping it together recently? And how does its present and projected condition affect the Kingdom of Cambodia? Knight Frank gives insight into that narrative through its recently released “Asia-Pacific Residential Review.” Cross-Border Investment Rising Cambodia Benefits   According to the report, Knight Frank states that close to a total of $2.1 trillion was invested in Asia-Pacific residential land sites over the past 10 years, where approximately 11% or $230 billion originated from cross-border deals. The report also indicates that this trend has not died down as the region entered into 2017. If anything, the recorded cross-border transactions were higher in 2017. The report states, “In Q1 2017, we continue to see more cross-border investment activities in Asia-Pacific – with close to US$10 billion representing 15.2% of the total sales volume. In addition, this is also the highest Q1 figure ever recorded since at least 2007.” Mainland China is Leading the Pack The report indicates that majority of the cross-border capital came from Hong Kong and Mainland China. However, it clarifies that “On the surface, Hong Kong alone is the front-runner with 74.5% of the market share but in fact the most acquisitive companies have roots in the mainland.” But Asia Pacific Head of Research for Knight Frank, Nicholas Holt warns that “driven by a need to diversify their portfolio many for the first time have been venturing into foreign markets after becoming a household name in homeland China. However, the recent capital controls imposed by the Chinese authority may impact such overseas development activities.”  Cambodia Benefits Because of the impact from the imposed capital controls, developers have been looking into investing in other countries. Holt states, “As many residential markets mature over time, the hunt for the next high-yielding property development opportunities may happen in selected developing countries such as Cambodia.” He adds, “Investors and developers will find these locations attractive given the consistently high economic growth, huge young population, rapid urbanisation rate combined with the rising need for different housing types.” The report further indicates that “Real estate developers from across Asia, particularly from China, Singapore, Taiwan and Korea have gone into Phnom Penh, seeking a share in one of the last frontier markets in Asia.” The report suggests that “legislation in 2010 that allowed foreigners to buy high-rise property paved the way for more inbound investments. The country’s economy has been growing around seven percent on average since 2010, attracting investors to buy up residential lands and units to tap on the growth opportunity in this fast-urbanizing nation.” With the help of professionals proactively trying to improve processes in various industries, Cambodia’s continuously growing market not only provides security for potential overseas and even local developers and investors. It also secures the country’s spot as one of the preferred markets in the Asia Pacific region. Read more report in our news section

A groundbreaking took place on Mong Rithy Street, Corner Road 1003 at Khan Sen Sok, surrounded by a group of workers and engineers, still actively working. This new construction site will soon be home to the first  wholesale supermarket in the country, known as Makro.According to Cambonomis, Makro supermarket will be built on an area of approximately 5 hectares with a height of 2 floors. It will be located in Sen Sok district, near Aeon Mall 2 (AEON), Japan supermarket.The upcoming supermarket is a joint venture between the company, LYP Group, which owns 30 percent., And CP Group owns 70 percent. This project will employ over 200 employees, working for the rising shopping mall.The local media have reported that yesterday's (29th of May) groundbreaking ceremony, the Mayor of Phnom Penh Mr Pa Socheatvong said "The establishment of supermarkets are within the government’s project. It's good to know when we have an upcoming wholesale supermarket so that the selling price of goods will not changing too fast, avoiding inflation"Makro is set to be the largest warehouse shop in the Kingdom which will bring Thai products to local consumers.In the past years Cambodia has seen many international projects of shopping centers coming into the market; and after the Japanese investments of AEON Mall and AEON Mall 2, it is now the turn of the Thai CP Group. Let’s wait and see who will step in next!Please find out development news in Cambodia on Realestate.com.kh

Areyksat, located in Kandal province east of Phnom Penh City and just a short ferry ride across the Chaktomuk River, is increasingly catching investors’ attention – with a number of residential, industrial and amenity projects now in the pipeline. This attention begun last year after Phnom Penh Governor Pa Socheatvong revealed upcoming infrastructure development projects connecting the area to the central city; namely, three bridges connecting Phnom Penh to Koh Dach, Svay Jrom and Areyksat. Although some are hesitant to invest in Areyksat pending the launch of these connectivity projects, many real estate experts and locals are keeping their eyes on the area thanks to the other notable developments already underway. Mr. In Sitha, CEO of the real estate website cambodia21.com, said: “Areyksat is recently seeing notable developments in terms of housing projects such as Borey Chaktomuk, the Evergreen project, Chaktomuk View, and several plot land projects. These developments contributed to a rise in land prices compared to the past three or four years.” SkyLand, a joint venture between Jet’s Group, a Cambodian company, and India-based STAR5 Development Pvt. Ltd., has also launched a $90 million affordable residential project in Vihear Sour commune. Ms. Chea Vita, assistant general manager of Sky Land, said: “The company occupies a total land area of 7,770 hectares divided into different development projects such as sky condominium project, sky villa project, and flat house project.” “The first 1,000 hectares is used for plot land and residential houses. While the first plot land project is already completed, next month the company plans to officially announce a flat house project,” she added.  Just 14 kilometers away from Phnom Penh, the Sky Land project is located in an industrial area where there are around 20 factories with nearly 40,000 workers. This offers significant appreciation potential for those buying in this area, according to Ms. Chea. Besides this, Ms. Chea revealed the company has reached agreements with other development companies to bring more amenities and services to the area; including a water park, solar power generation for the area, a fitness center and golf club, and the first floating market along the Mekong River in the area of Vihear Sour. Due to the various projects underway, Mr. In added Areyksat is an area of great future potential, especially for housing developments as it is located right next to the city, it offers many green areas, fresh air and a great river view. Sharing Mr. In’s view, Mr. Seng Sopheak, Chief Operating Officer at Cambodia Properties Limited (CPL), suggests Areyksat enjoys a “strategic location, just a stones away from the city. It will certainly attract a lot of interests from more developers in the near future.” In regard to land prices, Mr. Seng said: “Areyksat’s land prices can be divided into residential, riverbank, lowland (lake). Prices saw a high peak in 2014 and 2015, but currently they seem to have stabilized.” “For residential land in the Areyksat Commune along road 380, starting prices are between $400 and $500 per square meter; riverbank land starts from $150 to $250 and the lowland $30 to $50 per square meter -- with guarantee of legal ownership. It is also possible to find lower land at a lower price, but there’s no assurance that there’s no hidden conflict,” he added. “For the land located close to borey and condominium projects, prices can range from $80 to $150 per square meter. In this area, there are also some subdivisions of plot land projects, and prices can go from $100 to $150 per square meter,” according to Mr. Sopheak. Mr. Sopheak notes that infrastructure developments in Areyksat are vital to local people looking to move there. And while basic infrastructure such as water and electricity is coming quickly, connectivity to the city remains a major impediment for the time being. Nevertheless, for investors with time to spare before expecting a return on their investment, buying before roads and bridges are completed mean that land prices remain competitive. Mr. Moeun, a shop vendor in Areyksat village, welcomes the government’s infrastructure development plan in his area, saying: “I wish to see this area to have more roads and bridges across the river. When these infrastructures are developed, then I think companies and new development projects will also start to move in. And one more thing, having a bridge is good and convenient for villagers to travel to the city.” Despite being uncertain of the infrastructure development projects in his area, Mr. Hen Hoeun, a villager in Areyksat commune, said: “I want a housing development to launch in Areyskat commune, then I will buy one for my family; I want to live here, and not have to move to another area.” Check out property for rent or sale on Realestate.com.kh!

Cambodia has been at the forefront of growth in the past years. And it comes as no surprise that many are turning their heads towards the country for investment opportunities. But is Cambodia ripe enough for these investments? Here’s what you need to know about three of the major factors for investment – GDP, Taxation, and Population.Why invest in Cambodia?GDPThe World Bank has ranked Cambodia 109th out of 228 countries in its latest update of its World Development Indicators Database – still behind other Asian countries like China, Japan, Korea, Indonesia, Thailand, Hong Kong, Malaysia, Singapore, Philippines, Sri Lanka, and Myanmar.But unlike most of these countries (Japan, Korea, Indonesia, Thailand, and Malaysia) which have graphic data that best described as broken lines, Cambodia is represented by a much smoother curve that’s continuously moving up. From $6.293 billion in 2005, the country’s GDP rose to a staggering $18.05 billion in 2015. That’s a 286.35% increase in a span of 10 years.This is confirmed by the Asian Development Bank that said “Cambodia, which was once a country synonymous with conflict and poverty, now has one of the fastest growing economies in Asia. The country’s gross domestic product has grown by 7 percent or more each year since 2011 and is expected to keep up that pace through 2017.” In addition, it was also projected that there will be a slight 0.1% increase in GDP for Cambodia in 2017.TaxationIn an article released by the Khmer Times late last year, they refer to another ADB report that compared 21 Asian and Pacific economies. The reported data, in contrast with the GDP growth, was underwhelming – putting Cambodia in the third to the last spot for tax-to-GDP ratio. The report shows that less than 14% of Cambodia’s GDP comes from tax collection.It is important, however, to note that even if this was a recently released report, the data was still based on the fiscal year 2013. Since then, several taxation advancements have been made to the country’s system. This includes the Law on Financial Management 2016 which was the major reason for abolishing the Estimated Regime of Taxation and a restructure of the Self-Assessed Regime.According to the Phnom Penh Post, “Not only did this change in law consolidate the taxpaying community into one jurisdiction, it also increased the tax collected from small taxpayers as those formally in the ETR paid considerably less tax than those in the Real Regime.”In the same article, Anthony Galliano – Chairman of the Cambodian Investment Management Insurance Agent firm – also said that “in the same spirit as the Amnesty program, the Royal Government issued Sub-Decree No. 17 to encourage, if not to entice, unregistered SMEs to voluntarily transform into compliant taxpayers, and as a result, be rewarded with exemptions.”So, since fiscal year 2013, there has definitely been an initiative to widen the net for taxpayers and to profit economically from it at the same time.Population and Target MarketAs of March, Worldometers puts the population of Cambodia at roughly 16.01 million people. And while that’s far from the almost 1.4 billion people from china or the 7 million people in Laos PDR, the advantage of Cambodia’s population doesn’t lie in its totality. The benefit of this is that more than 70% of the population are under the age of 34. Asia Times says of this, “This means that Cambodia, unlike most Western or developed countries, has a large supply of young talent and labor available to work and innovate, helping the country develop.”And with ADB declaring Cambodia a low-middle income country, the economy is slowly gaining traction and the population’s mindset is shifting in terms of spending, this includes purchasing of properties.If anything, the investment climate in Cambodia is more than well. There are lots of possibilities because of its continuous growth. It is important, however, to note that it is still a developing country. And combined with these potentials are coupled risks. So, a careful study of what type of investment you wish to enter into the kingdom will save you a couple of headaches.For up to date news and information, visit our news section at Realestate.com.kh now!

Elections in Cambodia are drawing near - and if some investors are waiting to see how the situation will affect the country, others seemingly aren’t hesitant to invest. A possible investment opportunity will be the Kowloon Bay Twin Towers; a 59 Story, two tower development project to be located along Sothearos Boulevard in front of condominium buildings. The project is a joint venture between Star City Cambodia and WorldBridge Land. It will be built on a total area of 1.50 hectares. It was recently confirmed that it will be a mixed-use development project, comprising condos and shopping centers. However, since the development is still in the research and development phase, there is a chance of a variety of other property types being added into the plan. Although the project has not yet been officially confirmed, the developer remains optimistic regarding its approval for construction. According to thePost Khmer, Worldbridge Group chairman Sear Rithy said, "I still see that the project as well as the demand are positive." He added that "It doesn’t matter what other projects are currently present in the market. My only focus is the location." WorldBridge Land has already built several major development projects in the country such as The Bridge Project in the center of Phnom Penh, a high-potential area in front of the Australian Embassy in Tonle Bassac. This mixed-development consist of offices, a shopping mall, and residences. The developers are also working on their second project: The Peak. It is a diverse hotel development project located about 100 meters from The Bridge. The Peak will be completed in 2020 and will offer a taste of modern living and working in the city. Find out aboutupcoming developments on Realestate.com.kh

Following Prime Minister Hun Sen’s official visit to the Belt and Road (B&R) Forum for International Cooperation in Beijing last week, good news for Cambodia’s growth as part of a regional economic supply chain has echoed across local and international media.As reported by GlobalTimes.cn, Kao Kim Hourn, Minister Delegate Attached to the Prime Minister Hun Sen, "The Prime Minister's visit has greatly contributed to strengthening and expanding the diplomatic relations between the two countries." And as a result, according to Kao, both countries had reached a series of agreements that “underlined that the Belt and Road Initiative is a long-term strategy that enhances infrastructure, trade, finance and people-to-people connectivity." Mr. Kao also confirmed an MOU between China and Cambodia to revive the nation’s rail transit system. While more-immediate effects of the B&R initiative relate to logistics network development and increased capital and labour flows, experts involved in the Cambodia real estate sector suggest the policy will indirectly boost confidence in the Cambodia real estate market - for both local and international speculators and investors.H.E. Dr. Sok Siphana, lawyer and long-time Advisor to the Government, says that the policy, “directly accounts for the massive influx of Chinese investment in Cambodia. This includes major infrastructural projects such as energy infrastructure.” While on first glance this investment may not seem relevant to real estate investment, Dr. Sok notes that investors view a nation’s longer term growth prospects holistically; hence, “without achieving development in energy efficiencies, international business flows into Cambodia will remain limited.”Sam Yang, CEO of Eastland Development, suggests that the integration policy will increase demand for properties in general and ease worries of a bubble in the property market. Mr. Yang explains, “the Chinese plan to have a regional railway completed, effectively linking the Asian markets directly. Although supply is increasing quickly in the Cambodian property market, we should also see relative demand chasing as the region develops faster than ever.”Jasper Shin, a Taiwanese real estate agent and advisor based in Phnom Penh, shares the same sentiment. Mr. Shin says that, “Within this policy, when Chinese people come to Cambodia, the money also comes. And they invest their money into real estate. So, this is really good for the Cambodian property market. And in the next five to 10 years, Phnom Penh and Sihanoukville will develop faster because of this.”Some also suggest that the policy may have positive effects on the potential for sustainable rental returns in the condo investment market, as a relatively affluent Chinese managerial class enters the Phnom Penh rental market. Victor Chao, Project Manager at New Consolidated Max World (Cambodia) Co., Ltd, adds that, “there are already many Chinese companies in Cambodia now, and those who are in middle management can already afford to rent a condo unit, apartment, or a serviced apartment. If this trend continues and occupancy rates can rise across the apartment and condo market, investors can be more confident regarding the returns on their property investments now.” The property market of Sihanoukville may also see an increase in its number of investments. As a result of discussions regarding the Belt and Road project, a 190km expressway was confirmed last week linking Sihanoukville to Phnom Penh - due to start construction by the end of the year. The expressway will be developed by China Communications Construction Company in a contract worth nearly $2 billion. Infrastructural developments such as this will likely pave the way for faster investment growth on the coast.Find the best real estate news on Realestate.com.kh

Cambodia has been causing excitement in the international scene for becoming an international investment hub. And it seems to only get better. According to the Asian Development Outlook 2017 by the Asian Development Bank, strong growth is expected for the Cambodian economy in the next two years. And one of the sectors garnering great interest is the tech startup scene.In fact, just recently, various companies born from Silicon Valley -- the world’s technological cradle -- have taken interest in the expanding market and placed investments in local startups like Khmerload.But what does this interest in technology mean for the country’s real estate market? Realestate.com.kh gives you a brief analysis.How will technology change the short to mid-term outlook for Cambodian real estate?Seeing that the market is picking up, Cambodia’s technologies at the moment cannot be considered innovative as much as they are just similar to international business models. But this isn’t necessarily a bad thing because it provides most of the same benefits the technology did in other countries.Take Exnet Taxi Cambodia for example, a solution created to improve the process of sourcing vehicles -- a service that’s very similar to international services like Uber and Grab. Similarly, 360-degree tours and virtual walkthroughs have also entered the real estate market of the country, but not before it has already made waves in the global mainstage.For the short to mid-term perspective, this may be a prominent trend -- locals try to replicate international solutions and services while learning how to develop their own. This is because generally, introducing proven solutions on an otherwise untested market is easier than creating one from scratch since it takes less resources by eliminating the need for more extensive research. But as more trainings are provided and as the quality of the curriculum for education on the matter changes, more innovative products are bound to spring up from within the Kingdom. A blogger in the tech scene, Tharum Bun said in a recent interview that “It’s hard to get good education in tech and digital in Cambodia.” Bun recalls, “I have a friend who graduated here, and continued to get a Masters in Japan. When she returned, she started teaching at a university here. She told me that the kind of curriculum currenlty being thaught, is ten years old. New things need to be introduced, to keep up.” But why is there a lack of innovation in Cambodia at the moment?Ki Chong Tran, the founder of 3d printing company ARC Hub PNH, sheds light into the situation and says, “You need someone who can think outside the box. And it’s not just about the technical skills, it’s about the attitude. We kind of had to do our own training program. In the Cambodian educational system it’s just a lot of memorization and doing what you’re told, and not really thinking independently.”He adds, “Culturally I think there’s something there too about doing what you’re told. But we’re looking for leaders, people who are able to say, ‘Hey, I don’t think that’s right.’ And that’s very hard to find here.” However, he qualifies, “everything is lacking here. But you can use that to your advantage.” How will technology change the long-term outlook for Cambodian real estate then?Even though there are a lot of things lacking in Cambodia’s technological education system, the sector is nothing new to the country. But what is worth considering is that the demographics are slowly starting to change. The millenial generation is starting to populate the different markets at a rapid pace. In a recent article created around the topic, The Phnom Penh Post explains that “the choices of millennials have implications for the housing market,“ basing it on CBRE’s “Asia Pacific Millenials: Shaping the Future of Real Estate” report which likened the youth of the Asia Pacific to each other.The article explains that “while for many, the ultimate goal is home-ownership, spending and saving patterns dictate that most will live with their parents for longer than previous generations, and evidence suggests that 62 percent of APAC millennials not living with parents rent their home.”So, this comes as a challenge and opportunity for developers and investors to either create more innovative homes or re-evaluate their rental strategies. This can mainly come down to the issue of convenience and affordability, with millenials always seeking new experiences and opportunities they cannot find in their backyard.This will eventually drive newer innovations to address these types of issues, including solutions similar to the usage of Blockchain technology to democratize property ownership and to make real estate investing less expensive and more accessible to the youth. Blockchain technology also digitalizes real estate ownership. This may soon change the way ownership works for everyone in the country too. This may also lead to the improvement of already existing  technologies like virtual reality eventually moving into the realms of augmented reality and holograms. But what about the homes themselves? These new innovations will also mean improved development standards in the future, combining traditional elements into more modern packages and modern advertising platforms -- thereby providing an authentic and convenient experience for these future home buyers and renters. Take the developer Borey Peng Huoth, for example. The Southeast Asia Globe mentions describes them this way, “Earning gongs for Best Housing Development (Phnom Penh) and Best Landscape Architectural Design, the developer was hailed for its use of technology and placing a premium on its relationship with consumers by ‘being the Kingdom’s first developer that has created a dedicated mobile application for its client roster.”So, competition will be forced to step up. And when that happens, it will be an interesting sight to see.But the greatest thing about the future is that you can gather data from the past and present to effectively foresee an outcome that is most probable. And if that’s the case, Cambodia may have an interesting future in its hands. Find the best real estate news on Realestate.com.kh

What is a Pre-Selling Property?  A pre-selling property is a property released for sale in the market at any stage before the development is completed. This is otherwise known as an off-plan property. Pre-selling properties exist for a few reasons. Developers offer it to finance the construction of the project, while others for an assurance that all units are sold before construction is completed. Some developers do it for both reasons too. But buying pre-selling properties has its fair share of advantages and risks. Advantages of Buying Pre-Selling It’s more affordable – off-plan properties are mostly, if not always, cheaper than buying units that are ready for occupancy (RFO). This is because you won’t be able to use the home just yet! As a reward for trusting the developer, buyers are given extra privileges in the form of a low-cost purchase amount and more flexible payment terms. So, you can pay for the property in instalments as well with little to no interest. Other developers also do special discounts for early buyers, making the property all the more attractive.Great investments – Pre-selling properties mostly increase in value as it is near completion. This can be used to the buyer’s advantage. For example, if you buy a property now in its pre-selling stage and its selling price is $120,000, in about two to three years, once it’s completed, the value can go up to around $150,000. That’s a $30,000 profit for doing nothing except waiting for the development to be completed. But of course, you have to do your study on the property first.More options – Since the property is in its pre-selling stage, not many have inspected the property and bought it. So, as a buyer of off-plan properties, you have more freedom in choosing your unit type, where it’s facing, what floor, and other similar factors. With RFO units, this is hardly the case. You’re stuck with manageable units, at best. Cons of Buying Pre-SellingChanging Terms - Pre-sale contracts can be ambiguous and vague sometimes. It can be subject to further changes, either legally or through a technicality or loopholes. The risk is that you might actually get a unit that’s very different from what you were promised. This includes changes in material, location, layout, size, and finishing. Time Management – A delay in completion and turnover is another risk an investor must look into. Sometimes, pre-sale contracts contain delay clauses that free the developer from responsibility for turning it up on time.  That’s why it’s important to always check the contract.Financial loss – If a developer goes bankrupt or the project doesn’t push through, you’re usually left with nothing. Sure, you can sue them, but that will take quite some time and funding.  Bonus Tips* Even with these apparent risks, the good can definitely outweigh the bad if you are well-advised of the developer and their past projects. So, here are a few things to keep in mind when scouting for properties and you just happen to run across a pre-selling one. Look for developers with a good reputation. Look for reputable agents Get a good lawyer to run through the contract with you to check for any inconsistencies or unfair clauses.Hire the services of licensed brokers to assist you with the process.Verify the legitimacy of the developer with related government agencies and ministries such as the Ministry of Land Management Urban Planning and Construction. Pre-selling properties are great ways to get the most out of your money. With proper precautions and a bit of research combined with these tips, you can make that money grow even further until the next property comes along.  To find more reliable off-plan propertiesClick Here

When it comes to inspections for a new rental property, the bulk of your search and consideration usually revolves around technical aspects of the new home, such as proximity to your office or your kid’s school, your budget, the number of bedrooms and the like – it is easy to overlook some of the smaller but equally important details during the heat of the viewing. What property should you rent in Cambodia? Here’s a checklist, thanks to Realestate.com.kh, to ensure you’re not forgetting anything!Safety First:Regardless of what your agent tells you, be personally responsible for you and your family’s safety when considering any new rental property. Walk around the neighborhood of any property you are considering renting, speak with neighbors (and other tenants if it is a shared building) and come back to the area at nighttime and make sure no hidden threats appear when the sun goes down. Also, always consider the potential for flooding. A 24 hour review is necessary to note any noise hazards too – there may be construction in the afternoon that you never noticed at the morning viewing, or a night club could open at night next door. For a little extra attention before agreeing to the rental contract, you can truly understand the pros and cons of the property.Little Things:Check faucets, door hinges, locks, door knobs, power points, appliances, water heaters and gas cookers before agreeing to rent. Most of the time these things look perfect until further investigation – but if you catch minor problems now, you can ask the landlord to fix them before the agreement is settled.  Photo Evidence:Before agreeing to the bond payment, take photos of every room in the house while it is empty. In these pictures, make sure you evidence any preexisting damage to the property. This way, when your contract eventually ends, the landlord has no grounds to deduct wear and tear damages from your deposit that in fact you weren’t responsible for.Missed Part 1? Find it on Realestate.com.kh! Interested in renting? Check out these properties now!

In last week’s edition we considered some real estate negotiation tips to help you think more laterally in your real estate negotiations and achieve better outcomes. Missed the first tips? Find them online at realestate.com.kh/newsUnfortunately positional bargaining in real estate transactions (that is, focusing solely on a price battle) generally results in poor outcomes for both parties - because everyone gives up the same amount and, therefore, neither party gets what they really want.Thankfully there are other ways to negotiate! Here are some more simple real estate negotiation tips and watch your odds change:3. Trust your judgment and make genuine offers:There is a saying in real estate that ‘time kills deals’ and in a fast paced property market such as Phnom Penh, Siem Reap and Sihanoukville this is definitely the case. As such, we suggest researching the real estate market thoroughly and making an offer that is at, or very close to, your maximum.  By making an offer for what you know the property is worth, you have a strong chance of buying the home, land or commercial property, before other buyers swoop in and offer more. Remember this negotiation tip and don’t get caught out offering less than you know the property is worth - if this occurs you are likely to miss out as more aggressive buyers pay more and close the deal.4. Loose lips sink ships:Never let the other party know how much you have available to spend or what is motivating you to buy during any real estate negotiation; this risks the seller using these great negotiating tactics on you! This is a key negotiation tip in any situation, not just real estate.Similarly, given so many properties in Cambodia are marketed as “Price On Application”, it is very important to always make the seller name a price first before beginning any real estate negotiation. With that information you are well placed to make a counter-offer in proper context of the seller’s price. If a buyer makes the first offer, they are in danger of over-pricing the property from the start and that can only ever result in a bad deal.5. Cash is king:Sellers hate any uncertainty in a deal and offers made ‘subject to finance’ can be a deal breaker when a competing offer is for cash – even if the offer is for less. This is why it’s critical to have your finance arranged and be ready to settle on a deal very quickly once the price is agreed. See the bank BEFORE you see the seller! Cash is always king in real estate negotiations, in any country, but especially in Cambodia. Being able to offer cash gives the seller absolute confidence in your offer and this is often worth more to a seller than a higher offer that may never settle.Keep these real estate negotiation tips up your sleeve, and you will secure you dream property in no time; on YOUR terms, not the sellers!Want to learn more about how you can make money by investing in real estate wisely? Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.

Sihanoukville has been the center of many discussions lately because of the various infrastructure upgrades and modern developments popping up.Some of these projects are D’Seaview condo, a new highway from Phnom Penh to Sihanoukville, the Sihanoukville Special Economic Zone, and the Sihanoukville Airport expansion project. And it is these same developments that are paving the way for new investment opportunities to flow into the area – particularly as “Cambodia’s next real estate boom town.”Adding to its potential as an investment hub is the government’s coastal development master plan which aims to protect and maintain the ecological assets of the area, further promoting tourism. There’s also the 3,300 hectare-land-concession project at Ream which will see the rise of a hospitality zone for tourists and even locals. But the topic of investments can be tricky at times, especially for a market that’s just beginning to rapidly expand. That’s why Camhomes put together an event that aims to shed light into the current situation of Sihanoukville and how investors can take advantage of it.The event will be held on the 10th of March, 2017 at D22 – Tama Hotel Phnom Penh Tower. It will start at 6pm and will be graced by esteemed speakers, Mr. Tom O’ Sullivan – Director of Realestate.com.kh -- and Mr. Kuoch Lengkheang, PR & Marketing Strategy manager of Camhomes.Find the latest real estate news now on Realestate.com.kh

(A sample of Cambodian property ownership title)Cambodian land title classifications can be rather confusing to a new property buyer. That’s why we’ve come up with a simple guide to the 4 different property titles you need to know. Before we get started, we have to note a fundamental rule when it comes to talking about land property/ownership in Cambodia: According to Cambodia’s constitution, only Cambodian nationals can own land and landed property within the Kingdom.Now that’s out of the way, let’s explore the main ways property ownership can be secured in Cambodia.Property ownership can be secured by one of the 4 main forms of Cambodian property titles, namely: Hard Title, Soft Title, LMAP Title, and the Strata Title. We’ll give you a quick rundown of the important points to remember below.Types of Cambodian Property Titles:Hard TitleHard title is the strongest form of property ownership in CambodiaIn the rare occurrence that a disputed land has both a Hard Title and a Soft Title, the owner of the Hard Title will win the dispute. Hard title is a land ownership certificate provided by the Land Management and Planning office.Hard titles contain detailed information that has been duly recognised and certified at a national level with the Ministry of Land and the concerned cadastral office.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Hard Title transfer.The facilitation of a Hard Title transfer usually takes up to 12 weeksForeign nationals are constitutionally prohibited from obtaining Hard Titles.Soft TitleSoft title is the most common form of ownership and the most commonly issued Cambodian land title as the transfer taxes and fees are cheaper than a Hard Title.It is estimated that 85% of Cambodian property owners only have Soft Titles to back up their property claims.It is a Cambodian land title that is recognised at the local government level (Sangkats & Khans)Soft titles are provided by the local Sangkat or District office and are not registered at a national level - but are still considered a valid legal document of ownership. Soft Titles are relatively cheaper and quicker to acquire for CambodiansEstimated to take anywhere between 10 to 12 working daysForeign nationals are prohibited from owning a Soft TitleLand Management and Administration Project (LMAP) TitleThe LMAP Title is another property ownership title issued and recognised on a national level by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) - along with the relevant cadastral offices.The main difference of the LMAP Title from a Hard Title is its inclusion of the exact GPS coordinates that determine the boundaries of the property in question.LMAP Titles can only be obtained on land that has been indexed on a cadastral map. So, if a plot of land has not yet been indexed, an LMAP Title cannot be issued for that property.If the MLMUPC is presently undergoing the necessary LMAP titling process in your village or area where you live, this means you only need to follow what your local authority informs you to do once the project is completed. It is their obligation to communicate with you.It is possible to own a Hard Title without an LMAP Title due to the above-mentioned limitationA Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the LMAP Title transfer.Foreign nationals are not permitted to own an LMAP title.Strata TitleStrata Title is a special title commonly used for condo unit purchases which is available to both Cambodian nationals and Foreign nationals.There are other mechanisms not necessarily involving a Strata Title available for property ownership for Foreign nationals which you can see in our investment guide.Strata Titles can only be granted if the property in question satisfies these criteria: Only applicable to buildings constructed in 2010 and beyondForeigners can only own 70% of the total surface area of the building or propertyStrata Titles cannot be issued for properties on the ground floor and/or undergroundStrata Titles cannot be issued for any property within 30km of the nearest land borderPrivate Ownership in co-owned buildings (also known as Strata Title) is the most recent form of ownership and allows foreigners to legally own property in Cambodia.Strata Title is a less common Cambodia land title, but the numbers are growing fast.Most new condo development projects offer this type of title to accommodate foreign demand to own property in Cambodia.The Law on Foreign Ownership’ was promulgated on 24 May 2010. This law limits foreign ownership to co-owned buildings. Foreigners still cannot own land, as it is unconstitutional.Co-owned buildings are defined as a building or construction in which several owners reside (eg. a condo complex or office tower), consisting of some parts that are the exclusive ownership of each co-owner (private units) and some other parts that are common spaces for the common use of co-owners (common areas).Strata Titles are issued by the Ministry of Land Management, Urban Planning and Construction. Which means Strata Titles are recognized on a national level.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Strata Title transfer.How to Transfer A Property Title in CambodiaWhen you purchase property or land, it is critical to obtain outright ownership in order to feel secure about your new asset. To complete the process for transferring land titles of ownership, there are particular steps that need to be followed, documents that need to be obtained, as well as the necessary consultations with relevant agencies.Step 1: Verify the title certificate with the relevant Land OfficeThe buyer will first need to verify the land title certificate with the Land Office at the Ministry of Land Management, Urban Planning and Construction (MLMUPC), to check for any debts or other claims to the property. This process requires:The buyer must obtain the original title certificate from the seller to verify their genuine ownership.The buyer will then verify the title certificate with the Land Office at the MLMUPCThe Land Office will inform the buyer if there are any liens (debts), mortgages or other claims registered to that property.Relevant Government Agency: Land Office at MLMUPCEstimated time to completion: This takes approximately 10 days (should occur simultaneously to steps 2 and 3)Step 2: Obtain information on the propertyThe buyer must then obtain information on the property from the relevant Commune Council Official. This involves the buyer contacting the village chief or the Commune Council Official in which the property is located to obtain information about the land/property. In addition to this, an official search of the title should take place at the Khan/District Land Office.Relevant Government Agency: Commune Council (Relevant District/Khan office in your property’s area)Estimated time to completion: This should take approximately 10 days (we advise that this be done in parallel to Steps 1 and 3)Step 3: Obtain the certificate of incorporation and official documents from the sellerIf the landowner is a legal entity, the buyer must obtain;A copy of the ID of the shareholder, or person acting on behalf of the company,A certified/notarised copy of the Certificate of Incorporation of the seller’s company as issued by the Ministry of Commerce.Any other official documents from the seller relating to the company and the transaction.All of these documents are needed to verify the accuracy and identity of the company name appearing on the title certificate. Further documents needed to verify the seller’s authorisation to transfer the property to the buyer are;A special power of attorneyA Resolution signed by the Board of Directors from that company authorising the named individual (seller) to represent the company at the Land Office (MLMUPC)A power of attorney specifically stating that the seller can bring into effect that Resolution to transfer land titles of ownership to the buyer.Relevant Government Agency: Ministry of CommerceEstimated time to completion: This process should take around 10 days (should occur simultaneously to steps 1 and 2)Step 4: Apply for registration at the District Land Office (MLMUPC)When the buyer and seller, whether they are as an individual or a company wish to complete the property transaction, they must go together to the District Land Office at the MLMUPC to arrange, to prepare and sign the relevant documents.The documentation needed for this step isThe Company’s statuteThe Company’s Certificate of Incorporation (obtained in Step 3)Both of the Power of Attorney documents (obtained in Step 3)The original Title Certificate held by the seller must be presented to the District Land Office at the time of signing the deed, in order to have the name of the new owner officially inserted on the document.Relevant Government Agency: District Land Office, MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction)Estimated time to complete the step: This step takes between 20 and 30 days.Step 5: Pay transfer taxA transfer tax of approximately 4 percent of the total value of the property is paid to the Ministry of Economy and Finance at the General Department of Taxation, in the district that the transferred property resides. A tax receipt is then issued to prove that the property transfer tax has been paid.In Phnom Penh, however, this tax is not assessed based on the true transacted value of the property; but, rather, based on a schedule of the price of property determined by the Phnom Penh Municipality. The assessed valuation by the Phnom Penh Municipality is based upon factors such as; the total number of square meters, the land’s location, use, potential use, and other variables.To put this quite simply the transfer tax is not based on the actual price of the land which is sold, which is usually the case, rather it is based on the assessed value made by the Phnom Penh Municipal office, which may be higher than tax rates in other provinces.If the land is more than 1200 sqm, the surplus of the land will also be subject to “unused land tax.” For land less than 1200 sqm, the unused land tax is not applicable. The time for the General Department of Taxation to complete the calculation of transfer tax will depend on the location of the land and its size.Relevant Government Agency: General Department of TaxationEstimated time to complete the step: This process should take around 1 dayStep 6: Return to the cadastral office to complete the registration processAfter all relevant taxes are paid, the parties may return to the cadastral office at the District Land Office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC) and sign/thumbprint an MLMUPC form for buying/selling real property, as filled in by MLMUPC official.The signing/thumbprinting must be witnessed by a local authority such as commune chief, who will also give their thumbprint. These procedures are based on Land Law Articles; 65, 244 and 245. Land Law Article 69 bars transfer of property unless all necessary taxes are paid. The documentation provided should include payment receipts of the transfer tax. (obtained in Step 5).Step 7: Obtain the certificate of title from the Municipal Land OfficeObtain the certificate of title from the Municipal Land Office: The Khan/District land office forwards all the “transfer documents” to the Municipal Land Office where it issues the final Certificate of Title in the new owner’s name. It is now registered.Relevant Government Agency: Municipal Land OfficeEstimated time to complete the step: 1 to 2 weeks. The last procedural step in practice can take several weeks, depending on the diligence of the land officials and interested parties.Stay 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!Article by:

Siem Reap is a prime tourist destination in Cambodia and serves as a doorway to the historical site of Angkor. Each year, visitors from all over the world travel there to explore Angkor which magnificently reflects the 12th century civilization and is listed as a World Heritage site of UNESCO.Aside from being a top tourist destination, it is also becoming an increasingly important spot for real estate investments. The city is now filled with luxurious hotels, beautiful colonial buildings, impressive handmade crafts, nightlife, and much more.An increasing number of people are considering purchasing land in this province. What is there to know about this area and why is becoming so attractive?Location:The city is located around 314 kilometers northwest of Phnom Penh, and is well connected by the National Road 6, which will take you to the city in less than 6 hours. It has a total area of 10,299 square meters and the province has 11 districts, 1 town, 13 Sangkat, 87 communes, and 921 villages. Siem Reap is a true natural beauty: is settled in southern Tonle Sap -- the largest lake in Southeast Asia. The lake serves as a shelter to hundreds of bird and fish species and without any surprise, the lake was recognized as the first Biodiversity Conservation area by UNESCO back in 1997.The area is also home to the Cham and Vietnamese communities living in floating villages around the lake.The fascinating Siem Reap city center that includes many luxury hotels, beautiful colonial buildings, a buzzing Pub Street and nightlife, markets, crafts and much more...The potential of this area is significant with strong growth potential in the tourism and service sectors as well as craft production, fisheries and of course real estate.Growth of business in Siem Reap:Pub Street is probably the most famous street of Siem Reap: it has the highest concentration of bars, pubs, karaoke places and restaurants. As a result of a combination of tourism growth, progress, and F&B businesses, pub street and the road nearby, are in high demand for their retail spaces.Although the real estate sales in the area aren’t that many, the leasing of activities has increased and became one of the major sources of profit for the area.Real Estate in Siem Reap:In 2015,  the price of Land in Siem Reap increased by 5% to 10% and growth in the ring road area up to 15%. So far, the city center has been the main target for real estate investments; This includes four major Sangkats: Slorkram, Svay Dangkum, Salakamreuk, and Korchak.Tourism, hotel, entertainment, retail and service sectors have had a positive effect on the area’s economy. Although rental has grown rapidly in the four sangkats in the last 10 years, the real estate market of Siem Reap is said to be developing in a healthy way.Land prices in Siem Reap:Year after year Siem Reap is still one of the most attractive destinations for both local and international tourists.According to Mr. Po Eavkong, General Manager of Asia Real Estate Co., Ltd "Land prices will increase by an average of only 5 to 10 per cent this year, the same percentage points as in 2015.”Eavkong also explains that because of this “landed property could fetch between $300,000 to $400,000, or equal to $4,000 to $5,000 per square metre. Meanwhile, along Sivutha Boulevard prices could range from around $2,000 to $2,500 per square metre, with land further afield along National Road 6 falling anywhere from $300 to $150 per square metre.”Sok Sarath, a local estate agent, also believes that Land in Siem Reap is a good investment. He stated that businesses are growing rapidly, the​ province displays many vacant land and residential project developments along the ring road cities are raising.Is it good to invest in land?Kim Heang, president of CVEA said "Investing in Land in Siem Reap, it's suitable for those who have financial means and do not require a loan". He continued, "But if you invest land by borrowing from banks, it might not be the best option if you are looking for quick returns. Although interest rates are only 8 percent a year, it will take approximately 2 to 3 years before you will be able to sell the land and make a profit."What area in Siem Reap is good for investment?Areas with potential for quick profits include development projects alongside the ring road. Businesses along that road are also expanding: hotels, restaurants, private clinics, schools, factories and other institutions. Slorkram, Svay Dangkum, Salakamreuk, and Korchak have also showcased the most dramatic growth in recent years.Why invest in Siem Reap instead of Sihanoukville and Phnom Penh?As mentioned, Siem Reap has seen an increase in business and tourism. Investments in real estate development can already be noticed, and had influence on the city’s growth figures. The land prices here are still lower compared to the ones in Phnom Penh and  Sihanouk Ville. The population is also lower, resulting in a stress free environment with very limited traffic and pollution. Siem Reap is particularly suitable for those looking for tranquility and privacy.Find more investment guide in Cambodia on Realestate.com.kh now!Take 2 minutes to complete our survey and win and IPhone 8!