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Russian Investment in Cambodian Property, with George Kachmazov
Russian Investment in Cambodian Property, with George Kachmazov
June 7, 2022, 3:11 a.m.
Realestate News
Realestate.com.kh caught up with Mr George Kachmazov, founder and managing partner of Tranio.com, an online overseas property start-up. Kachmazov is a respected real estate and investment expert, as well as a keynote speaker at many national and international property conferences, and regularly contributes to print and online media with insight on real estate trends and advice for first-time investors. We know there is a large population of Russians in Cambodia. Are Russian's interested in the Cambodian property market now? If not yet, what might be attractive about Cambodia for property investment for Russian buyers? It’s true that there are many Russians who spend winter seasons in Southern Asian countries, including Cambodia, Thailand and Vietnam. Many of them rent out their Russian apartments and rent homes in Asia. We have had enquiries for apartments and townhouses in Sihanoukville in 2013–2014, but demand on Cambodian real estate is very low compared to other countries.There are several things that might be attractive about Cambodian property: low taxes, low prices, relaxed lifestyle, friendly people, new experiences. There are Russians who see drawbacks, though: lower market transparency (compared to Europe) and Cambodian property ownership restrictions for foreigners (they are not allowed to own land).What other ASEAN regional countries are attracting attention from Russians? We see interest in Thailand and Vietnam. In the whole, ASEAN countries are more popular among far-eastern residents of Russia because of the distances. For example, our research shows that people from the Vladivostok region (east of Russia) are three times more interested in Thai property than Muscovites who prefer to buy property and spend holidays mainly in Europe because it’s closer. How can a Cambodian property seller make their property more attractive to potential Russian buyers? what features are they particularly interested in? what terms of sale etc?Be trustworthy and convincing. Russians are often skeptical and ask for substantial facts and proofs. They tend to be in doubt: “Why should I work with this seller? Should I purchase this property or wait until I find something better?” This often results in prolonged or delayed transactions. Also a Cambodian property seller needs to be open and transparent, because Russians are afraid of scams. If you sell residential property for buyer’s own use, sell lifestyle and emphasise aspirational features of a property and location. Unlike many Westerners, Russian buyers tend to buy more on emotion and less on price. As for features, Russian lifestyle buyers prefer houses and apartments in a close proximity to beaches, and sea view may be demanded. Do support and advice at all stages.   What are the most popular locations for Russian investing overseas?Judging by the number of enquiries on Tranio.com in Q1 2016, the most popular countries are Spain, Germany, Italy, Montenegro, Czech Republic, Finland, Austria, Hungary, France and Slovenia. Spain has maintained absolute leadership during the last several years, and buyers stay attracted by relatively cheap property (prices dropped by 40% in seven years), sea and warm climate. Germany, strongly placed as number two, is preferred by those of our clients who want to invest in rental real estate, diversify investment and protect capital from Russian risks. What type of properties are they Russians usually seeking abroad? A big proportion of clients buy apartments by the sea for their own use – either to spend holidays overseas or to move permanently. This kind of buyers are active in Spain, Italy, Montenegro, France and Turkey. Since 2014, we are working closely with clients who want to invest in real estate rather than spend money on holiday villas and flats. This kind of buyers tend to purchase residential property to rent it out (according to our research conducted in 2015, 63% of respondents in commercial property market choose rental apartments). Mini-hotels are also popular (21% of respondents), as well as rental blocks of flats (16%).What are some facts and figures on total outward investment in property by Russians?Investment into overseas property was gaining in popularity since early 2000s. 2012–2013 showed a considerable increase in the number of Russian-speaking clients. In many countries, including Spain, Bulgaria, Latvia, Turkey and Montenegro, Russians took leading positions in the residential property market. But after 2014, when the ruble had plummeted, investment volumes decreased dramatically. In 2012–2013 Russians invested in property overseas more than 400 thousand dollars every three months, and in 2014–2015 about half as much. According to the Russian Central Bank the volume of transfers was down 30% year-on-year, checking in at just 199 million dollars, compared to 281 million dollars in Q1 2015 and 484 million in Q1 2014.Not only is the investment volume is shrinking, but so are buyer budgets. On the other hand, we have noticed a growing demand on investment property, particularly in terms of income-generating buy-to-let residential and commercial premises. Also our clients become more and more interested in development projects.What are the key motivating factors for outward real estate investment for Russian buyers?Five-six years ago, Russians were motivated by a “superplus” of money, they had enough liquidity to invest into seaside resort villas and enjoy European lifestyle. Between early 2014 and May 2016, the US dollar rose against the Russian ruble by over 80%. So, property overseas became much more expensive for people who earn income in rubles. The main motivations for Russian buyers now are extremely low mortgage rates in Europe and opportunities to invest money into safe, low-risk markets. Why is online marketing so important for international property buyers?According to National Association of Realtors of the US, three quarters of buyers start searching for property by looking at Internet listings. Word of mouth simply isn’t enough, every real estate company has a website, and it’s essential to promote it and raise its visibility in search engines so that potential buyers would be able to find it among thousands of other sites. Since 2014, we’re promoting the English version of our website, Tranio.com. Today at least 5% of our audience are clients from Europe, Asia, America and the Middle East, and their share is constantly growing.Tell us more about Tranio: Tranio is an international real estate broker. We help our clients buy and rent property directly from foreign agencies and developers without extra charges and unnecessary intermediaries. We are not just a real estate website because we provide support and advice at all stages of selecting and buying a property, and we are not a traditional real estate agency either, because we have about 500 partners all around the world, and we do not favour any particular agency or developer at the expense of the others. Also we publish news and reports on property overseas and give an expert advice. In 2013–2016, we closed 500 deals. How long has Tranio been around? What inspired it? We’ve been on the market for six years. After my family had bought a second home in Croatia in 2010, I had an idea to create a real estate business. I saw potential in this segment, as there were many clients, a lot of interesting products, and low competition in Russia compared to the vast market capacity. We started to design and develop the website in 2010, and launched the full working version in March 2011. At first, we planned to monetize the website the same way most real estate sites do — by selling advertising and paid listings. But very soon we disliked the idea because abundant advertising always makes a website less user-friendly and lowers its quality. In 2012, we changed the mode of monetization and became a mix of Internet portal and real estate agency. We were selling second homes by the sea and helping people spend their money on lifestyle. In 2014, we launched the English version of our website, started working with international clients and sell buy-to-let commercial property. The change in business strategy helped us not only survive the crisis but also rise sales volumes despite decreasing demand on real estate overseas. As the crisis hit the Russian market in 2014–2015, we changed our strategy once more. We saw investors rising their yield expectations as yields were falling gradually in every European country due to high demand and relatively low construction volumes. We understood that the only way to earn money in today’s market is to invest it into projects of added value, namely into redevelopment and renovation projects, and we started to offer them in 2016. Our next goal is to create our own redevelopment project. We are planning to find investors, purchase a multifamily building in Spain, renovate it, create micro-apartments and sell them to end users who will either use units themselves or rent them out. At the same time, we will go on expanding the share of international property buyers in order to protect our business from Russian risks. Some other articles George has recently contributed to: Five reasons why guaranteed high yields don’t exist ; Russian crisis breeds a mature generation of property investors ; How property plays a role in balanced pension investments ; Buy-to-let investments in Germany are a boon for small budgets ; Risks: macro and micro pitfalls in property investment strategies ; Overseas Investors: Tricks To Financing Your Property Investment In Europe
Amazing Cambodia: "Development and architectural conservation need to walk together"
Amazing Cambodia: "Development and architectural conservation need to walk together"
June 6, 2022, 9:07 p.m.
Realestate News
Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?
Condominium Market Report H1 2016, with Chrek Soknim on Realestate.com.khTV
Condominium Market Report H1 2016, with Chrek Soknim on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Special Reports
Realestate News
With the rate of condominium market demand and supply fluctuating in Cambodia, it is possible that 2016 will force real estate professionals to focus on a few issues that need to be addressed for the condominium market to be sustainable into the future. Particularly, there is an increasing need to develop new strategies to combat the decreasing demand for condominium units. This is according to Chrek Soknim, Century 21 Mekong ceo, during his presentation for Century21 Cambodia’s Condominium Market Report H1 2016 report.As Official Property Portal Partner of Century21 Cambodia, the Realestate.com.khTV team was there to catch the news as it happened.Political Hindrance There have been many laws that have been drafted and approved throughout the years to assist in the growth of the real estate sector, especially in terms of the condominium market. But when there is any signs of insecurity in the market or political sphere in Cambodia, foreign investors are put off and look to more established and less vulnerable markets with their investment. Soknim says that minor political disputes in 2016 are making foreign investors nervous when considering Cambodia.But Soknim states that this may be more of a national image issue than it is an actual reality of Cambodia in 2016. He explains, “even though the political situation in Cambodia looks stable and nothing changes, the confidence and sentiment of buyers has decreased in some respects. This may seem like a small issue to some people, but foreign investment in the industry makes up about 70 percent of the condominium market.”  OversupplyDue to projections pointing towards an increase in demand during the early months of 2016, many developers took the opportunity to apply to build new projects, especially in the condominium market. Unfortunately, this led to more new construction that the market may have anticipated. Soknim said, “Supply has increased dramatically this year —especially in January, February and March of 2016—with new projects being launched almost every day.”Century21’s Condominium market report indicates that 13,730 more units are expected to come up in the next few months of 2016.However, Seraj Sutton from Century21 Cambodia, at the same event, stated that he hopes to resolve increased supply by communicating with foreign investors by means of a “Global Strategy Business Development” tour, which will allow Century21 Cambodia to move from one country to another and keep investors informed about the opportunities in Cambodian real estate.Overseas DependencyA slowing down of the economies of neighboring countries such as China is also contributing to the amount of demand the Cambodia condominium market is receiving. Soknim clarifies that even if Cambodia still has lower rental and sales prices across the market, Cambodia has to lessen its dependence on overseas money. Cambodia is a dollar-dominant market and this may cause issues as well in the future.Despite some indications of an oversupply, Soknim and the rest of the Century21 Cambodia team believes that with a cautious mindset, and proactive investment policies, there is still much success to come in the Cambodian condominium market.Find thousands of condo listings on realestate.com.kh
Taking Cambodia property to the world, with Seraj Sutton on Realestate.com.khTV
Taking Cambodia property to the world, with Seraj Sutton on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Cambodia’s economy has been growing from within its borders throughout recent years. And while it’s not really a bad thing, leading industry players such as Century21 Cambodia have come into agreement that the real estate sector is growing so much that there comes an opportunity to open it up to increased investments for both locals and foreign nationals. This is the sentiment echoed by Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia, during his speech for the launch of the Condominium Market Report H1 2016 held at Raffles Hotel Le Royal, Phnom Penh.Global  VisionSutton explains that as part of their aim to do business more efficiently, a global vision is essential for Century21 Cambodia to be able to move forward with their initiatives to streamline a broader business platform in the real estate and property market. This vision will be the driving force that will motivate them to come up with new and innovative ways to create an environment conducive for global business transactions and collaborations.Global InitiativeAs part of this move towards a more inclusive and collaborative industry, Century21 has set up a "Global Strategy Business Development”  team which has also launched a worldwide tour series to spread awareness about the real progressive situation in Cambodia and, more specifically, Cambodian real estate. It will be headed by Sutton, along with Mr Kuy Vat and Mr SamAth Him Sprung who are the Chairman and Director of Global Strategic Business Development at Century21 Cambodia, respectively.Sutton says, “The main focus is strategically thinking globally. This means proactively promoting Cambodian investment opportunities to the global market."He continues, “So, proactively, we’ll promote the projects in Cambodia to the investors overseas, by means of travelling, building relationships, networking and promoting, promoting and promoting.""Because we believe the Cambodia property market has the best offering ever, in the region but also worldwide. So, no country in the world can beat the investment opportunities in Cambodia.” But he also notes that a lot of the populations of investors around the world are looking to diversify their portfolio. And this is where their tour will take a turn for the better as they present and propose a two-way traffic structure, whereby Cambodia property investors can invest in overseas projects and foreign investors can also invest in other overseas projects from countries like Cambodia. Sutton called it a “complete global vision and strategy.”Global  SupportIn terms of international cooperation, Century21 Cambodia is aiming to leverage partnerships in countries like China, Hong Kong, Macau, Taiwan, Malaysia, Indonesia, Vietnam, Singapore, Japan, Korea, Thailand, France, Australia, Canada, and USA.Sutton adds that France and Australia have shown great potential thus far as these countries have large populations of Cambodian expats and immigrants. He says, “Why France? Big Cambodian community is in France. Some of them – Cambodian-French – eventually like to retire back in their home country, Cambodia.” In 2011 alone, there was an estimated 80,000 Cambodian nationals who lived in France. He further elaborates, “Then we thought, if we can go to France, why not Australia? A lot of Cambodian communities live in Australia.”This is indeed an exciting time for Cambodia as firms like Century21 Cambodia continue to look for ways to modernize and stabilize the growth in the Cambodia property industry. And as plans begin to materialize, we can only hope to see rapid and ongoing growth in the Cambodia property market as a result.
Where to invest in Cambodia property, with Mr. Van Chanthorn on Realestate.com.khTV
Where to invest in Cambodia property, with Mr. Van Chanthorn on Realestate.com.khTV
June 6, 2022, 5:04 p.m.
Realestate News
If you have the money and you’re looking for affordable residential property to move in to, you have to make sure to get a property that suits your needs.Realestate.com.kh spoke with Mr Van Chanthorn of TownCity Real Estate about the best ways to invest your money in Cambodian real estate.If we have enough money, what type of property should we buy?If you have just enough money to begin investing in real estate and you’re looking for a monthly income return, then you should purchase one to two condominium units or a flat or apartment inside central city for leasing. It’s much more convenient to rent and could be a stable source of income of up to around $1,500 every month.For those looking to purchase properties for both investment and residential use, consider buying a Borey property in the city. Aside from having a strategic location, there’s also more opportunity for sale and rent in the short-term. However, the profit here is limited and there aren’t really any huge returns to be made any more.But for investors that already have a significant capital for real estate investments, they can opt to get a pre-established-facility or landed commercial area/development plot that would cost around $2 million to $5 million. This will produce a profit through increased rental costs and easy leasing terms, or a profitable sale to the right developer.For investors who have an overflow of money that are looking to buy for future investment returns through a property sale, a projected profitable areas of investment that most people are taking for granted are on the outskirts of Phnom Penh. The reason for this is because there will be a lot of new long period developments just outside the city that will give you a significant investment return after 5 to 6 years.TAKE A LOOK AT TOWNCITY’S PROPERTY LISTINGS RIGHT NOW ON REALESTATE.COM.KHWhat is your ideas or expectations of the future of the real estate realm in Cambodia?For me, there are a lot of current developments being done and already available in the north, the west, and the southeast directions. If we are looking to the southeast direction, we see that there are many borey project developments like the Borey Peng Huoth and Borey High Tech.In the eastern part of the city, areas along the national road 6 such as the Chroy Changvar peninsula are expected to have plenty of condominiums, boreys and residential projects in the long run.   Meanwhile, the northern areas have been in development or quite some time now. So, both big and small borey projects are already in place, especially in the satellite cities of Camko and Grand Phnom Penh International City. These development projects have been successful because there of good infrastructure, higher density of people and growing commercial areas. They’re also particularly successful because there are many roads connecting to the other provinces like Sihanoukville and the Kampot province.We tend to forget the east direction, but it’s also now under serious observation as a future development site. Also, for the future, the south part of Phnom Penh will also be the best target direction for investment. Based on my vast experience, land prices are higher and rapidly increasing because of the development goal of the government in the south of the city and the investments of expats here. And because of this, road infrastructures are becoming more and more possible in the south. Nowadays, the real estate market values in those areas are offered at an affordable price. Therefore, all investors should be in a hurry to invest now! These prices won't last long.TAKE A LOOK AT TOWNCITY’S PROPERTY LISTINGS RIGHT NOW ON REALESTATE.COM.KH
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Cambodia Property Awards 2017 takes off, nominations now open
Cambodia Property Awards 2017 takes off, nominations now open
June 6, 2022, 5:06 p.m.
Events & Announcements
Realestate News
PHNOM PENH, Cambodia – 6 July 2016: After a record-­breaking year in real estate and construction, the Cambodia Property Awards returns for a second year to reward the best developers, projects and designs in the Kingdom. According to the latest research by consultancy CBRE, the capital Phnom Penh’s condominium supply is projected to rise by a staggering 794 percent or 19,018 units within the next two years, supported by sustained gross domestic product growth, attractive returns and rapid urbanisation. In another fast ­growing segment, Cambodia’s retail market is set to get a substantial boost with new retail supply coming in from foreign investors hailing from ASEAN Economic Community and East Asia. Those impressive developments will be highlighted at the second annual Cambodia Property Awards 2017, the biggest and most exclusive awards programme in the country that forms part of the regional Asia Property Awards series organised by PropertyGuru, Asia’s leading online property group. The annual real estate event was formally launched to the media on 6 July 2016 at the Empress Room of Raffles Hotel Le Royal, be to followed by an evening launch party at the historic Chinese House on Preah Sisowath Quay in Phnom Penh. With much fanfare and media coverage, the inaugural ceremony that took place on 25 February 2016 at the prestigious Sofitel Phnom Penh Phokeethra was attended by more than 300 high ­profile guests and VIPs, including His Excellency Dr Pen Sophal, representative of His Excellency Senior Minister Im Chhun Lim, who gave the inspiring keynote address. Broadcast live on CTN’s Cambodia News Channel, the 2016 Gala Dinner saw Borey Penghouth Group collect five awards including Best Developer (Cambodia), while Mr Rithy Sear, chairman of WorldBridge Land, was named Real Estate Personality of the Year by the editors of Property Report, Asia’s leading luxury real estate, architecture and design magazine. Other big winners were The Olympia City Development Co Ltd and Urbanland Asia Investment Co Ltd. “Cambodia joins the other leading economies of ASEAN in hosting its own awards programme,” Terry Blackburn, founder and managing director of the Asia Property Awards, said. “It is a testament to the strength and quality of the local industry that we have so many fine developments join our launch year in 2016.” The 2017 event aims to surpass last year’s guest list and the total number of eligible entries for categories covering the condominium, housing/villa, office and serviced apartment segments. New categories to join the programme include Special Recognition in Sustainable Development and the expanded Best Hotel Development category for Phnom Penh, Sihanoukville, and Siem Reap. Nominations are already open and will close on 4 November. Entry is free.Sign Up NowAll entrants for the Cambodia Property Awards can be nominated by a third party, including peers, professionals and consumers, and, if eligible, are rigorously and fairly judged by an independent panel of industry experts, who conduct site visits to long­listed developments in order to determine the official shortlist of nominees comprising one Winner and up to four Highly Commended in each category. BDO, one of the world’s largest accounting and auditing firms, returns as the trusted awards supervisor of the Asia Property Awards, which, in its 12th year, is widely recognised for its fairness and transparency. The official list of nominees will be revealed in mid­January 2017, along with the announcement by the editors of Property Report of Cambodia’s Real Estate Personality of Year, whose influence and achievements resonate across the kingdom.
Become a Real Estate Sales Guru, with Alex Evengroen on Realestate.com.khTV
Become a Real Estate Sales Guru, with Alex Evengroen on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
The real estate and property markets are highly competitive. This is why it can be extremely difficult to stay in the business and find a career beyond your initial success, especially if you’re a real estate sales agent.Longevity becomes the primary issue and agents are left asking themselves how they ended up not having inquiries when just yesterday they were doing fine.CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee, Mr. Alex Evengroen addresses this issue and explains that this may be because of a weak grasp on how professionals perceive real estate agents. In a sit down interview, he reveals a couple of tips that will take professionals in the industry from an agent status to real estate sales guru.CharacterOne of the fundamental characteristics of a successful real estate sales agent is not his educational attainment, but his character and the way he conducts business. Though being certified by an institution gives you an additional coat of credibility, being certified by the clients themselves from their own personal experience will give you an edge. This becomes an advantage when they start referring you to friends and family who are looking for the same services that you offer. People have a tendency to trust people they know and a personal certification from them will always outweigh a formal one in the long run.CoverageWhile good character is important, it should also go hand in hand with being knowledgeable in terms of the ins and outs of the industry. Knowing property types and location and showing that you know what you're talking about will assure your clients that they will get the best and the most practical deals from you. It’s also crucial to give the property investment experience a personal touch. So, even if you know what you’re talking about, Evengroen says that you should still ask your clients some questions to find out what they want. This not only allows you to provide them with more flexible options, this also gives you the opportunity to compile your own personal statistics on that client and develop your own portfolio.CommunicationEvengroen says that communication is one of the most important things that you can learn in the industry. This not only extends to communication principles and etiquette. This also includes working on your language skills. He emphasizes that you have to keep learning. Knowing an additional language will give you a competitive start and follow through you need for further growth. It also builds character and your ability to learn anything. It allows investors to feel a familiarity they may otherwise miss when they transact with other agents. Among the leading languages in Cambodia are Khmer, English and Chinese. The more languages you know, the more sales you can make.CommunityDeveloping relationships in the industry is one of the biggest contributors to the successes and failures of real estate sales agents and agencies all over the world. Without good networking skills, you lose the potential client base that will organically come through referrals. So, this means that you not only develop relationships with the clients. It also means that you should develop a deeper connection with colleagues, other agents and organizations. This is why Evengroen suggests all Cambodian agents should join the CVEA - which is a big group of real estate companies registered with The Ministry of Economics and Finance.Being part of a community like this gets you the chance to learn from like-minded individuals who are willing to support you and who are also seeking to improve the industry conditions itself. So, whether it’s CVEA or not, make sure that you become part of a group of credible people and harness the power of numbers!Consistency“You only get one chance” at making first impressions. This is the sentiment shared by Evengroen during the interview. He says that who you are the first time people meet you will last until they decide to part ways with you. So, you want them to feel the support you are willing to offer them. A bad impression can somehow be offset with consistent follow-ups though. And whether you’ve made a bad or good impression, follow-ups remain one of the best ways you can close the deal. Just be mindful of the frequency so that it won’t reach a point where clients are inconvenienced by it.ConfidenceBeing a personal and professional success coach, Alex Evengroen believes that agents should first and foremost believe in themselves. They have to dare to be different. He says that "if you copy other people, no problem. But then you're one of them and you're the same.” And while it’s important to mould ourselves in the image of a successful person, our differences will serve as our personal and even professional marketing tool. He states that we must make a conscious choice to be confident. "So, if I don't believe in myself, why should you believe in me?”He further emphasizes that confidence makes other people confident that you will support them when they need it. With that assurance and with the utilization of all these tips, Evergroen firmly believes that you’ll be able to last long and hit it big in the real estate market. So, continue improving yourself and be aware of the things you’re still able to work on. And since the industry is fast growing, agents and agencies should have no excuse to do anything else other than focus on growth.Learn more through the Realestate.com.kh news section now!
More New Property Projects on Show at Cambodia Property and Investment Show 2016
More New Property Projects on Show at Cambodia Property and Investment Show 2016
June 6, 2022, 5:05 p.m.
Realestate News
Property Buyers & Sellers Advice
Buyers of residential and commercial properties will be spoilt for choice when CAMBODIA PROPERTY AND INVESTMENT SHOW 2016 rolls into town at the Diamond Island Exhibition Centre (Koh Pich) from 8-10 September 2016. And Realestate.com.kh is proud to be the Official Property Portal Sponsor of this year's Cambodia Property and Investment Show! Visitors at the show can see all the projects in one location. Furthermore, buyers can enjoy many special offers available at only at the show. Billed as the largest property expo in Cambodia, the event will showcase some of the biggest property developments in the country. Supported by the Cambodian Valuers and Estate Agents Association, the Show will focus on quality projects that will also attract foreign buyers. Among the development on show are: The Cambodia Property and Investment Show looks set to be the biggest yet as more major developers signed up to display their projects. Many of them will be participating for the first time at the show. This reflect the continued strong growth and demand for quality projects. The property prices are still affordable as compared to countries around the region. As the country continues to attract investments in the manufacturing and tourism sectors, the rental market is expected to remain strong. The Expo is the ideal marketing platform to reach out to both local and overseas buyers as it is expected to attract over 10,000 serious buyers.To Book Your Booth please send your details to the organizer: CLICK HERE TO CONTACTAdmission to the Cambodia Property & Investment Show 2016 is free of charge. Invitation tickets are available: WANT TICKETS?  FIND OUT MORE
vKirirom Pine Resort: Your Second Home
vKirirom Pine Resort: Your Second Home
June 6, 2022, 5:05 p.m.
Realestate News
vKirirom Pine Resort is located among the pine trees of Mount Kirirom National Park, and offers a unique escape from the heat of the Cambodian plains, lying 675m (2,215 ft) above sea level. Here you can lead a slow life in the mountains, whether for a holiday retreat home, retirement village, office retreat or permanent residence. Kirirom National Park was the first national park of Cambodia, located mostly in Phnom Sruoch District, Kampong Speu Province, with a smaller section is in neighboring Koh Kong Province. The meaning of "Kirirom" is "Happy Mountain", given to the area by King Monivong in the 1930s. vKirirom today has an international class resort, vKirirom Pine Resort, with 68 rooms and 150 camping sites featuring, fit out in a glamorous camping theme, a.k.a “Glamping”. Visitors can join in an array of activities such as cool mountain top relaxation, team building activities, and recreational sports. There is also an international university known as the Kirirom Institute of Technology, now in its second year of operation. Exciting new introductions include the Movie Town zone, Entertainment zone, MICE zone (Meetings, Incentives, Convention and Exhibition), Auditorium, Bus Terminal, Commercial facilities, Swimming pool, ZIP lines and Container hotel. Having won the Eco Tourism Resort award 2015 from the Government of Cambodia, the resort has demonstrated it is fully committed to making the highland development into the best in Cambodia, and an internationally recognized destination on par with Siem Reap. Phase 1 is 591 hectares consisting of vKirirom Pine Resort and Creative Forest. The first area shall be dedicated to residential and supporting facilities. Introducing elements of a successful city development will be priority in this phase and will include daily conveniences, medical facilities, educational facilities, transportation hubs, commercial opportunities and entertainment. The latter area will focus on green concept business development. together with light industry and other development and education programmes. CHECK OUT THE FULL LISTING FOR VKIRIROM! The entire development is designed to be totally eco-friendly. For instance, as construction continues, VKirirom has a strict policy that only trees which are rotten or broken are cut down for new construction areas. Otherwise, the natural setting is preserved as much as possible. The resort also grows its own vegetables and fruits without chemicals to serve in the on-site restaurant. Natural resources are also reused, for example, charcoal is made from any cut trees, and fertilizer is created from green waste. 1200sqm of free land is available for sale for buyers who wish to design their own home. Architects and construction support is also available on the buyer’s request. If a two-storied house is preferred, this can be arranged also. However, in order to protect the environment, a policy of building-to-land ratio up to 20% must be maintained, and a maximum total floor area of 1000sqm. Pre-built homes are also available. Borey A has a single floor space of 110sqm with land area of 600sqm. These homes are perfect for those who want to come and enjoy in the mountain every weekend as an escape from the city life! Each house has a loft and rooftop veranda. VKirirom also offer an integrated cleaning service and food catering service from Pine View Kitchen, as needed. And when you invite your friends or relatives, you can use resort’s additional accommodation for a special price. Further, when you don’t use this house for a long period of time, the team at VKirirom can help you to find someone who wants to rent it and pass you the rental returns. Borey R has a single floor space of 36sqm with land area of 180sqm. It is well suited as a student dormitory for “Kirirom Future College” students. You can lease this building and rent it to the college (for 2-10 years) in which case the college assures the rental profit with an 8% fixed rate interest. Also as a retirement house, this type of house with land is very attractive. As the entire site is on a 50 years lease contract, anyone from any country can rent without any special procedure. The developer’s unique strategy is a win-win formula for buyers. vKirirom produce cost effective properties that provide good rental returns and high capital appreciation. CHECK OUT THE FULL LISTING FOR VKIRIROM!
Real Estate Opportunism with Van Chanthorn on Realestate.com.khTV
Real Estate Opportunism with Van Chanthorn on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
Mr. Van (John) Chanthorn, CEO of Town City Real Estate, talented real estate agency owner and entrepreneur, talks with us in the Realestate.com.khTV studio about making the most of unique opportunities as they arise in the real estate investment sphere. A great real estate investor is flexible, and moves their money with the market shifts. In which area do you think is the hottest opportunity for property investment in Cambodia? The potential development sites in and around Phnom Penh are now almost all ready for immediate construction for buyers looking to develop, which is a distinct change from 10 years ago when much of the pre-development infrastructure needed to be done by the buyer. But the price is much higher also. Where to buy, however, will depend on the demand of customer - are they aiming to build a condominium, office or flat house development? Whatever they choose, they need to go to an area where the buyers are demanding these properties. For condo buyers and developers, the best suited location would be central Phnom Penh city, because the target market are the wealthy, the inner-city workers and those demanding a higher standard of living. In addition, offices buildings or company headquarters need to be placed on main roads such as Norodom Boulevard, Monivong Boulevard, and Kramoun Sar (114) Road. This means demand in these areas for commercial properties remains high. TAKE A LOOK AT TOWNCITY'S PROPERTY LISTINGS RIGHT NOW ON REALESTATE.COM.KH In case of industrial factory investment, they should be situated at suburban areas or Special Economic Zones (SEZs), where transportation, electricity and human labor are easily accessible. The choice ranges from National Road 1 to National Road 6. But always consider the road conditions, the infrastructure surrounding and the traffic situation. For industrial investment and warehouses located along National road 4 and road 3, and Kilometer 20-25, there a requirements across this area of the market for buyers to make a deposit 3 months before the projects even start construction. This clarifies that geography and demography play very big role in making the project successful. The best areas for Borey project, however, says Chanthorn, relies heavily on the type of Borey you are building. For the small sized borey developments, the location should probably be in the north and south areas of Phnom Penh City, or possibly the surrounding province; whereas the large borey developments are best located in the East of the city. Tell me about some major new developments that you are following. Some successful condo projects in central Phnom Penh are the Bridge and the Peak mixed-use developments, being build by Oxley Worldbridge. There are also a host of exciting projects on Koh Pich / Diamond Island, such as D.I Rivera and Casa Meridian. Another hotspot for condo is BKK1 and Khan Duan Penh, which has many new developments coming online in the next two years. TAKE A LOOK AT TOWNCITY'S PROPERTY LISTINGS RIGHT NOW ON REALESTATE.COM.KH
THE EDGE: The latest property release for Shukaku Inc. at Phnom Penh City Center
THE EDGE: The latest property release for Shukaku Inc. at Phnom Penh City Center
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
The Edge, a modern mixed-use development, will support Phnom Penh’s growing economy by providing what businesses – both local and foreign – need to unleash the capital’s potential: accessibility and convenience PHNOM PENH, June 24, 2016 – Shukaku Inc. today launched The Edge, its latest mixed-use development which will be located at the Phnom Penh City Center (PPCC), Cambodia’s first planned city project and Phnom Penh’s future Central Business District. Shukaku made the announcement at an exclusive showcase it held for investors, business owners and customers today at the Sofitel Hotel in Phnom Penh.CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGECommitted to supporting Cambodia’s transformation to meet the demands of the 21 st century, Michelle Lau, Executive Director, Shukaku Inc., reaffirmed that Shukaku Inc.’s mission is to unleash the potential of Phnom Penh and make it a truly liveable city by creating sustainable, innovative and integrated urban communities in the region. “We are very excited to share our new development, The Edge, with you today,” Ms. Lau said, “which is the latest feature of our project that speaks to our company’s long-term vision for the Phnom Penh City Center.” The 4 to 5-storey, 90-unit development was conceptualized by award-winning design architect, Logon, which used an innovative ‘Retail Office Versatile Office (ROVO)’ concept. All units are designed with flexibility in mind, providing space for businesses to be set up according to their preferences. The Edge is located next to a 22,000 sqm public park – a testament to Shukaku’s vision of providing new livable spaces where the community can feel safe and have true accessibility. Residence90, the company’s first residential villa property tailored for the modern Cambodian’s urban lifestyle, was also featured at the event. Inspired by modern architectural models, each villa at Residence90 has been designed to integrate seamlessly with the surrounding tropical landscape, and to fit its residents’ lifestyles. “At Shukaku Inc., we believe that each project begins and ends with a sense of purpose,” Michelle Lau said. “The purpose behind Residence90 is to provide residents with high-quality and smart living – at the heart of the Capital.” Current developments at the PPCC also include the PPCC Sports Complex and the upcoming One Park, an integrated lifestyle, residential and commercial hub, co-developed with GRED. Shukaku is in discussions with investors and will announce more developments throughout the year. “My vision is to create a place where the community can truly work, live and play” said Ms. Lau. “This includes wide spaces filled with greenery and well-planned infrastructures as well as providing a central place for businesses to conduct efficient, comfortable and reliable operations.”About Shukaku Inc.Established in 2001, Shukaku is a privately-owned innovative real estate developer based in Phnom Penh, Cambodia. Not just a property developer, Shukaku is also a master developer and an urban planner actively contributing to the shaping of the new Phnom Penh. Committed to building Cambodia’s future, Shukaku is creating liveable, quality developments through pioneering urban planning standards. Its flagship project, the Phnom Penh City Center (PPCC), will create a modern, thoughtfully-planned and fully integrated downtown core in Cambodia’s capital.About Phnom Penh City Center (PPCC)Set to become Phnom Penh’s first Central Business District, the Phnom Penh City Center (PPCC) is the first planned city project in Cambodia. Combining financial, retail, commercial, residential, medical, recreational and public spaces, this 111.6-hectare open, futuristic and iconic urban district located at the heart of the capital will offer the newest architectural buildings and modern city conveniences. A green and vibrant township, the PPCC is bringing a livable and integrated city to the people of Phnom Penh.  CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGE
Tourism Boom in Cambodia attracts Investors
Tourism Boom in Cambodia attracts Investors
June 6, 2022, 5:05 p.m.
Realestate News
With an increasing number of reasons to visit the land of smiles, Cambodia has opened its doors not only for economic growth and global competitiveness, but also for tourists who are looking to immerse themselves in the Khmer culture.As a result of this, the number of visitors and infrastructure dedicated to helping the tourist sector expand has also grown.“One Belt One Road” Policy:In an interview last month, Sam Yang, CEO of Eastland Development, states that the “One Belt One Road” initiative by China – which aims to create an elaborate land and sea railway connection among different countries around the world – may help usher in Chinese investments into Cambodian real estate. Since there is an overproduction of materials in China such as steel, it can easily be made accessible to Cambodia to utilize towards building infrastructures like airports, roads and railways. This will allow numerous entry points for tourists. And the more tourists that come into the land, the more foot traffic local and international retailers have. In fact, in 2016 alone, 1 million Chinese tourists are expected to walk the streets of Cambodia.Tourism is becoming one of the major contributors in Cambodia’s economy. And with the appearance of hotels owned by international companies, and the construction of new infrastructure like additional airports and railways, property investment would seem like the perfect option for foreign nationals who can’t stay away from the Kingdom.Awards Keep Coming:Just recently, the ECTT or the European Council on Tourism and Trade hailed Cambodia as the World’s Best Tourist Destination for 2016. If anything, this recognizes the efforts of the Ministry of Tourism and confirms its success towards driving more people to become aware of the many attractive qualities of Cambodia. This also further encourages investors as an indicator of stability and growth. Accommodations Expand:Local and international businesses and retailers are not the only beneficiaries of the growth in the tourism sector though. New high end brand hotels have also been popping up and receiving their fair share of investment returns through thousands of tourist s checking in every single day. Hence there is a great opportunity for foreign investors to launch and develop even more properties like it. Some of these developments are “The Courtyard by Marriott”, and the “Rosewood Phnom Penh” which will occupy the top 14 floors of Vattanac Capital Tower. These hotel brands are preferred by visitors because of outstanding service and accessibility to attractions around the country. The Peak mixed-use development by Oxley Worldbridge will also host the Shangri La Hotel in the coming years.But of course, accommodation for tourists is not just limited to hotels. As the property market and tourism expands, there will also be growth in different markets like apartments, serviced apartments and backpackers. These types of properties will see a rapid increase in rental prices.Another thing we are seeing more and more of is eco-friendly tourism options; a prime example being VKirirom Resort - where guests can stay on top of Cambodia’s most idylly mountain range, and enjoy a wide range of eco-friendly activities.Easy Visa:While getting a visa in Cambodia is not at all complicated, the Ministry of Tourism has now given notice that it will prepare to issue three-year multiple visas exclusively to Chinese and Korean citizens, who have been the country’s greatest tourists, partners and investors. In 2015 alone, there were around 400,000 Korean and around 700,000 Chinese tourists. And as the amount of visitors in Cambodia grows, the Ministry of Tourism hopes that this will encourage foreign nationals to get to explore not only the sights in Cambodia, but also investment opportunities.Just recently, the ECTT or the European Council on Tourism and Trade hailed Cambodia as the World’s Best Tourist Destination for 2016. If anything, this recognizes the efforts of the Ministry of Tourism and confirms its success towards driving more people to become aware of the many attractive qualities of Cambodia. This also further encourages investors as an indicator of stability and growth.Check out more info about Foreign Investment in Cambodia!
KINGSLAND GLOBAL: Bringing Value and Values to the Cambodian Market
KINGSLAND GLOBAL: Bringing Value and Values to the Cambodian Market
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
Tracing its origins from Kingsland Development, which has over 37 years of experience in the property development scene across Singapore and Malaysia, Kingsland Global is excited to extend its property development expertise to more territories around the globe - none less than Cambodia. In doing so, Kingsland Global looks to raise the market standard through stringent safety standards, closely held core values and quality developments. Kingsland Global is committed to providing value to the Cambodian property market through the combination of professional expertise and experience with their local partner company, CamTrip Investment Co. Ltd. With the goal of playing a pivotal role in the region’s future landscape, Kingsland looks forward to contributing to the growth and development of the Cambodian real estate market. Mr. Pheap Horng, representative of CamTrip Investment Co. Ltd., has this to say: “Finding a suitable business partner is basically about finding someone we can trust and that will always have our best interests in mind. Kingsland Global shares the vision for business as we do; and they are highly adaptable, with a repertoire of skills that we can work with to gain a deeper understanding of the business. But more importantly, we share the same ideals, values and vision in looking to positively impact Cambodia and Cambodians through our developments.” "Not only do they ensure the delivery of excellence through their projects, Kingsland Global looks to bring more than economic value to Cambodian society. They actively engage the local community, developing human capital with care and professionalism; steadfastly holding onto their ideology. Kingsland Global’s highest regard for quality in all phases of their projects also means that they will provide a holistic and value-added experience for all their partners throughout the regions in which they develop - I am glad that this has already begun in the Kingdom," he added. Kingsland Global is proud to announce some upcoming projects in Phnom Penh. To be operated by the acclaimed hotel operator, Wangz Singapore, 228 Oknha Peich is a 13-storey boutique hotel located in Khan Daun Penh which houses many historical monuments. Slated to be completed in the 2nd quarter of 2017, this stylish hotel is equipped with multiple facilities and looks to provide tourists and business travelers with a luxurious home away from home. Another upcoming iconic development, One18 Residences, is a luxurious 24-storey apartment providing quality living and hotel-like amenities right in the heart of Phnom Penh city. Look forward to a first-class residential experience like none other when the project is completed soon.For more info on Kingsland in Cambodia, please get in touch with Kingsland (KH); (Address) No. 34 Street 200, Boeung Riang, Duan Penh, Phnom Penh, Cambodia (Tel) +855 77 3399 20, (Fax) +855 23 2217 07/08 or Kingsland Global Headquarters (Singapore); (Tel) +65 6362 8998, (Fax) +65 6363 7031; or email info@kingslandglobal.sg
Condo Oversupply in Phnom Penh? Alex Evengroen on Realestate.com.khTV
Condo Oversupply in Phnom Penh? Alex Evengroen on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
With the continuous growth of the Cambodian economy, Phnom Penh real estate professionals have witnessed immense change over the last 15 years. One of the most visible changes that has occurred in the last 10 years is the advent of the condominium. This was naturally spurred by the 2010 law allowing foreign co-ownership of these types of buildings. As a city without a skyline just 5-10 years ago, a bird's eye view of Phnom Penh now shows a huge supply of high rise condo blocks - the scale of which is increasing with every new project. This is also probably the same reason why many professionals in the property industry are asking if the condominium market’s gone beyond its actual reach in terms of market absorption and hit a condo oversupply.Is There a Condo Oversupply in Phnom Penh?When asked about it in a recent interview, Alex Evengroen – CEO of Key Real Estate and chief adviser to the CVEA – states that “trends are always moving.” And while a condo oversupply is certainly possible today, it still won’t cause any harm towards the market for the future. In fact, there’s an estimated 11,000 more condominium units expected to be available after completion in the next 18 months. This number will continue to grow in the next few years. Evengroen goes so far as to say that there may actually even be an under supply in condominium properties in Phnom Penh. He explains that Cambodia is a young country and will have lots of people from the newer generation that will plan on getting married soon. This will instigate a baby boomer generation in the not so distant future. This will cause steady growth in the population which is expected to rise from the current 15.8 million to a little less than 18 million by 2025. This is according to the “World Population Prospects: The 2015 Revision” report released by the United Nations, Department of Economic and Social Affairs, Population Division.Naturally, the capital city of Phnom Penh will absorb a lot of this additional population, given it offers the highest salaries and education/career opportunities, suggests Evengroen.Do Cambodian’s prefer landed homes though?When asked about the mindset that Cambodians are more interested in landed properties like boreys and shophouses, as opposed to condos, Evengroen points out that the younger generation of property investors are more modern and open minded because of their exposure to similar concepts through international media. They are now more concerned about their convenience and accessibility of amenities. This becomes something they present to their families who provide them the hard titles from family properties to use as collateral for bank financing for their new condo home. Why might the condo market slow down?Evengroen points out that the sales in the condominium market will start slowing down in the future, but this won’t be because of a condo oversupply. He says that the market will meet its natural end after it has exhausted its free land within the city to construct new condominiums on. In addition to lack of land resources, traffic will become unbearable due to the expected increase in population in Phnom Penh. This will cause investors and developers to look for land on the outskirts of Phnom Penh and in the provinces. But Evengroen says that this isn’t necessarily a bad thing. It’s actually a great opportunity because land prices outside Phnom Penh are comparatively lower and more people will be able to afford properties here.He closes by saying that these are the projections in the market as of the moment and “of course, you will see shifts” in the market. It’s better to have a contingency plan for every possible problem than over-anticipate one outcome and be left unprepared for the other.Check out some hot condos for sale now! Or maybe you prefer a condo for rent?
Best Practice Facilities Operations Training in Cambodia July 20, with RICS and IBC
Best Practice Facilities Operations Training in Cambodia July 20, with RICS and IBC
June 6, 2022, 5:06 p.m.
Realestate News
Best Practice Facilities Operations: Adding Value to Business Competitiveness through Operational EfficiencyTraining with RICS: Cambodia, 20 July 2016 The majority of organisations operate from buildings, which represent one of their largest corporate assets and after staff, one of the most significant expenditures. These assets and costs need to be managed with the objectives of the organisation in mind so that accommodation and facilities services strategies are aligned with business strategies and plans.Managing facilities operations effectively contribute to supporting its organisation to deliver operational efficiency, statutory compliance and continual improvement.In this one-day workshop, you will learn how facilities operations may add value to the business, support the strategic aims and values of its organisation and keep the organisation legal and safe and are not an unnecessary overhead.Brought to you by RICS and IBC Cambodia, Realestate.com.kh is proud to support and sponsor this event.    SIGN UP NOWWhat to Expect?Lecture: Interactive series of presentations supported by in-depth group discussions. Case Study: Allow you to apply the new theory and concepts in real-life context. Learning Objectives After this programme, you will be able to: Explain essential elements of facilities services delivery process;List various facilities delivery services sourcing options for your organisation;Summarize steps of outsourcing procedures;State guidelines for preparing and managing service contract documentations;Identify legislative and compliance requirements;Describe commonly used performance measures to evaluate performance of facilities management teams;Explain scorecard approaches to facilities management in measuring performance.   SIGN UP NOWWho Should Attend?Facility Managers;Property owners;Property agents;Property investors;Asset Managers.   About the Trainer:Steven Ee, Msc CFM; Principal Consultant, FMS Associates Asia Pte Ltd; Steven runs FMS Associates Asia, a facilities management training and consultancy company that provides accelerated learning in facilities management. He is a Certified Facility Manager awarded by the International Facility Management Association (IFMA), an IFMA Approved Instructor, and IFMA Subject Matter Expert for its Facility Management Professional programme. He is the co-developer for the Competent Facilities Practitioner programme and has developed the Workforce Skills Qualification programme for facilities management in Singapore. Steven is regularly invited to speak at seminars and conferences attended by over thousands of facilities practitioners in Southeast Asia and China. Event detailsDeadline for registration: 11 July 2016 Capacity: 30 (first-come, first-served) Price: USD$300, with Certificate of Completion Venue: Intercontinental Hotel, Phnom Penh. For registration, please complete the Registration Form; attach it with payment slip and email to Mr. Seyhak Bun at admin1@ibccambodia.com OR Ms Linda Kwok at LKwok@rics.orgSIGN UP NOW