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Bringing you Peace of Mind, with Infinity General Insurance Plc. and Cambodian Life Insurance
Bringing you Peace of Mind, with Infinity General Insurance Plc. and Cambodian Life Insurance
June 6, 2022, 5:05 p.m.
Realestate News
Realestate.com.kh is extremely proud to be working together with Infinity General Insurance (Infinity) and Cambodian Life Insurance (CamLife) to provide peace of mind to all Cambodian families.Through this unique partnership, we want to help all Cambodian’s leverage their finances effectively to secure their assets and secure their lives, ensuring sustained prosperity for businesses and families - and keep the things that are most important in your life safe from harm.Infinity provides the protection you need for your home, your vehicle and your business.Infinity is proud to be the largest Cambodian owned insurance company offering you the best service, the best security; all at the best price - fully backed by global reinsurance partners and with the largest customer focused claims team in the Kingdom, meaning we can handle your claims in a fair and timely manner.Sound management skills, a passion for providing service which exceeds customer expectations, integrity and understanding, all ensure that Infinity will always be there for their valued clients.Cambodian Life was the very first Life insurance company in Cambodia and proud to be the largest Cambodian owned life insurance company.Cambodian Life is committed to providing excellent services and provide Cambodian families and employees with protection you need for your home repayments, your children’s education and financial certainty if the unexpected ever was to happen...Cambodian Life’s vision is that all Cambodians can have access to financial safety by providing affordable protection for you and your family.Realestate.com.kh is the number 1 property portal in Cambodia, with over 25,000 properties for rent and sale, and attracting 1000’s of visitors everyday! Naturally, we are thrilled to be working with Cambodia’s foremost Insurance providers, Infinity and Cambodian Life.Find out more today about how you can protect your what you have worked to achieve and secure your family’s financial future, with Infinity, Cambodia Life and Realestate.com.kh, Cambodia’s home of real estate.
Develop your Real Estate Agency Capacity, Realestate.com.khTV
Develop your Real Estate Agency Capacity, Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 6: HOW TO DEVELOP YOUR REAL ESTATE AGENCY CAPACITY AND PROFESSIONALISM IN CAMBODIARealestate.com.kh: As a business development director at Vtrust Appraisal, obviously you do a lot of work helping real estate agencies increase their capacity. If you could give maybe the top four tips that you would give for real estate agency development? How to build a successful real estate business in Cambodia?In Sitha: Well, I think the four major factors that should be applied in order to make a successful real estate agency in Cambodia are Location, Human Resources/Training, Investment Capital and Marketing.Location is one of the key factors for a successful real estate agency business. Companies that are physically situated in the right locations for client’s easy access generally have the best success.Number two, human beings. Human Resources are crucial for any real estate agency. And this means the right people for the right jobs. Professional training for the agent shall be important and necessary too, and training should not stop during their career.Number three, Investment Capital. Any new real estate agency must be ready before starting at all for more than short term operational expenses. They need sufficient investment capital for at least three years. We have 2000 in real estate market in Cambodia and it is good. But in fact it's not enough. They have to pay a lot of operational expense. The staff salary, utilities, licensing, certificates, marketing etc etc. Be prepared before you try to start a business, because it won’t start generating money for some time.Number four is Marketing - you need to make your agencies known and respected. The best type of marketing these days is online. Learn more about choosing the right Cambodian real estate agent, on realestate.com.kh today!
Why Phnom Penh Boreys are so popular, Realestate.com.khTV
Why Phnom Penh Boreys are so popular, Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 4: WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERSRealestate.com.kh: We're seeing a real rise in new borey developments across Cambodia recently. Can you explain why property developers are particularly interested in the Phnom Penh Boreys market? Why build a Borey?In Sitha: Okay. This is a good question. In this industry right now are seeing two main types of major developments: Borey development and condo development.Realestate.com.kh: Sorry, I guess for the viewers, can you explain what a Borey is? - Because I know this word is  used a lot in Cambodia, but for people outside Cambodia, maybe they don't know what a Borey is.In Sitha: Essentially, a borey is a gated community of flat houses, twin villa houses and single villa houses, including public areas, gardens and full security services. Those who want to buy a borey home are looking for privacy, a safe place for their family to grow, areas where communities can develop, and a place where all modern amenities are assured. They are they prefered first home of newlywed Cambodian couples looking to start a new family.Most of the local developers choose to invest in Boreys. The reason is that developers themselves gain a lot of profit from investment in borey projects over relatively short investment periods. The customers themselves also buy into a good environment for family living. It is popular with Cambodian people who prefer landed buildings, or flat houses. In the Borey, it’s generally all some kind of a flat house, link house or villa home. It can be one story or two story maximum. They also generally have a common area and playground for children. Check out the Borey buyers guide!Realestate.com.kh: Like a neighborhood. Like a fenced neighborhood. In Sitha: Yeah, that's right.Realestate.com.kh: They have infrastructure, have water, have electricity.In Sitha: All included. Generally, for a home in the Borey, the market price increase yearly from 10-15%. This is a good investment to the buyer themselves. They can buy this year, and next year they can sell. If the market is good, it could be more than 15% appreciation. Compare the interest rate with the bank, it's much better than investing the bank. Realestate.com.kh: Because the Borey  buyer, they own the land right? They have freehold ownership of the land. In Sitha: Yes they own the plot of land that their home is situated on, hard title generally - but best to check!Realestate.com.kh: Now lots of local people move away from the city center to the Borey’s on the outskirts of town right?In Sitha: Yes, that's what you see. The Borey developments are long line investment development projects. Which means that the developer spends much more time on the investment, starting from the early master plans and filling the totally undeveloped land.Realestate.com.kh: Maybe fill the land.In Sitha: Yeah, up to the completion of the development projects. The marketing time also takes longer to promote and ultimately sell it. Borey means one community. And each household  shall pay the management fee. Management fees are reserved for the security, reserved for the public life, reserved for the street cleaning, pool and playground for children- garbage collection as well. Boreys offer great security to families.Realestate.com.kh: More of a community lifestyle too?In Sitha: Yeah, yeah.Check out the latest and greatest borey properties, on realestate.com.kh today!
Common mistakes of Property Developers in Cambodia, Realestate.com.khTV
Common mistakes of Property Developers in Cambodia, Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 5: COMMON MISTAKES MADE BY PROPERTY DEVELOPERS IN THE CAMBODIAN MARKET, AND HOW TO AVOID    Realestate.com.kh: What are some of the most common mistakes that you see developers making when they first come to Cambodia?In Sitha: Well, the most common mistake that the property developer makes when entering the Cambodian market is moving too fast. Before starting any project a feasibility study is crucial. And they need to get recommendations from professional real estate agents.Realestate.com.kh: They're moving too fast?In Sitha: Before starting the investment, yes. That's why they could not identify the right location for the right project. Developing and selling are not separate. You need to consider your market before you even break ground. Which means that my recommendation, I would like them to use a professional real estate agent to teach the international developer about the local real estate market conditions. At VTrust Appraisal - we can do that. We are experienced and skilled in the real estate industry since 2004. We are the first to get developer and agent license from the Cambodian Security and Exchange Commission of Cambodia. Feasibility study is the most common service that developers request us to do before entering into this market.Realestate.com.kh: So many developers are coming in and doing everything too fast. They think the local market is the same as the Singapore market or Malaysia market and they're very surprised.In Sitha: Yeah, that’s true. First of all they need to do the market research. What is the best area for starting the project? The project is built based on the available investment capital. We would like to get the best return on that investment capital. Realestate.com.kh: The right property, the right price and the right market.In Sitha: That's right.CHECK OUT CAMBODIA'S SMARTEST NEW DEVELOPMENTS
Short Knowledge for ASEAN
Short Knowledge for ASEAN
June 6, 2022, 5:05 p.m.
Realestate News
The ASEAN Integration came into effect at the end of 2015. However, Cambodians seem to lack an in depth understanding about the community and its influence on people's day to day lives. Consequently, to provide more knowledge about the ASEAN community, Property View Magazine raises key information to grant a greater understanding for our readers.The ASEAN Economic Community (AEC) comprises a joint population of 622 million people and $2.6 trillion of overall GDP, which increased by 4.6 per cent in 2014, as according to a report from the Ministry of Foreign Affairs and International Cooperation. ASEAN took many measures in order to deeply integrate all member states and improve regulation, infrastructure and flow of goods, ease of trade tariff barriers and improved economic relationships generally. How do people describe the ASEAN Economic Community?AEC will make the 10 member states closer. This means that all the states will need to compromise to have one vision in the region with peace, stability, and security in perpetuity. The ASEAN Community is comprised of three pillars, namely the ASEAN Political-Security Community, ASEAN Economic Community and ASEAN Socio-Cultural Community. The ASEAN community hope to have a population of 620 million people with “One Vision, One Identity, One Community”.  This community officially came into effect in 31st December, 2015. What do we expect from the integration this year?The ASEAN evolution is still progressing, but it does not change quickly. To initiate this community, the member states implemented the three pillars vision, with the aim of becoming integrated deeply and comprehensively. More specifically, ASEAN leaders adopted the ASEAN Economic Vision 2025 which continues to integrate and strengthen their relationships over the next 10 years. How will the community influence the daily lives of people?The main goal of the ASEAN region is to promote people’s livelihood. The 2015 statement about the AEC, as issued by the ASEAN leaders on the 27th November, 2015, focused mainly on people and people’s power in the community. People continue to work together and gain benefits from ASEAN such as freedom, neutrality and seeking to find ways to strengthen solutions mechanisms. Can we travel across ASEAN by free visa or work in another country in ASEAN without any barrier?The agreement and ASEAN initiation has eased the travel restrictions throughout all the ASEAN countries and now many agreements confirming these rights are being prepared. For the working sector, an agreement that all the members acknowledge each other in ASEAN allows limited flow of labors such as engineers, nurses, architects, real estate experts, doctors, accountants, and tourism professionals. Some ASEAN countries have climaxed. How will the AEC resolve this problem? The ASEAN members have different perspectives on one particular subject and some members still have demarcation disputes. However, all the members are committed to obey the ASEAN Charter in principle and use this charter to guide them to resolve any dispute. In the ASEAN way, reconciliation and peaceful means of confrontation and solving problems, and neutralization, are implemented.  ASEAN have many agreements to promote peace, cooperation and the regional consolidation, including the 1971 statement which is about peace, consolidation, and aseanization. There are many ways to ease the free flow of goods, service, and people in the region which has highways, 47 ports, corridors, fast data, ASEAN energy supply systems, and infrastructure across the border Three transportation agreements will connect all the member states, and the three agreements also ease transportation across all the ASEAN countries and multi-transportations - which is aimed to reduce expense and boost transportation services across the borders. Lao and Vietnam, for instance, launched a checking system along Bao Danh Savanh border in 2015 in order to boost the bilateral trade in the east and west economic corridors.  The ASEAN members are easing the goods transportation across ASEAN countries’ borders and single gate mechanisms. In 2016, the single gate in ASEAN is ready to be implemented by all ASEAN members. ASEAN continues to implement a single airline and production base, and open investment inside and outside ASEAN. Many measures connect the institutions involved and ease the trade among the countries, such as the ASEAN trade data storage and national trade data storage systems. ASEAN is solving the tariff barrier to boost the trade and investment in ASEAN. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.
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The Construction Sector Leads on GDP
The Construction Sector Leads on GDP
June 6, 2022, 5:06 p.m.
Realestate News
The construction sector has become the most dynamic engine of growth, partly due to the return of political stability and a revival in consumption, according to a recent report by the World Bank. Economic growth here is still led by construction, garment exports and tourism, the World Bank said in its report “World Bank East Asia and Pacific Economic Update – Staying the Course.” Construction investment increased nearly 3 billion US Dollar in the first 11 months 2015 if compared with the same period last year, according to the data from the Ministry of Land Management, Urban Planning, and Construction.According to Im Chhunlim, senior minister of the Ministry of Land Management, Urban Planning, and Construction, said construction investment capital reached about 2.9 billion US Dollars in the first 11 months in 2015 if compared with the same period last year, increased 27 per cent. A group of local real estate expert said the construction sector helps invigorate the economy as well as GDP growth. Kim Heang, CEO of Khmer Real Estate and president of Cambodian Valuers and Estate Agents Association (CVEA), said the construction sector took the biggest part in Cambodia’s GDP because most wealthy people gain benefit from the land and construction. He warned, “We don’t have to concentrate only on the construction sector because the prices can increase or decline depending on the situation as there are many sectors we have to focus on such as tourism, agriculture, as well as garment.” “People’s income does not meet the current residential, and number of tenants saw an increase, so the government must take action to make middle income people to be able to afford housing,” he said. In order to become a developed country with strong GDP, we have to depend on human resource. It is a long-term investment and the education system has to be improved,” Mr. Heang said. Chrek Soknim, CEO of Century21 Mekong, stressed the vital role of the construction sector in the Cambodian economy. “The economy talks about money. Currently as we can see, construction sector in Cambodia injected a lot of money into the economy. That’s the reason the construction sector took a big part in the GDP growth,” Mr. Soknim said. However, he said, “even though the Cambodia property sector is younger if compared with other countries, the Kingdom gains advantages from the sector.” “With people’s stable income bank sector in Cambodia also plays a vital role in boosting the property sector, and cash flow can help the economy,” he added. “To make the construction sector consistency, the government has to take care of investors by issuing laws to projects both investors and buyers,” Mr. Soknim said. In Sitha, vice-president of World Trust Estate, said currently there have been many construction sites popping up in Phnom Penh, and this creates many jobs for people as well as experts in the sector: “It means workers and experts in the construction sector earn more income from the construction, and many constructions boost the GDP growth and according to the current data from the Ministry of Land Management, Urban Planning and Construction, the construction saw an increase, and this means it took a part in the GDP as well,” Mr. Sitha said. “Bank sector plays an important role in providing loan for people to have enough ability to afford home as many middle-income people use the loan to buy their own home,” he added. Return On Investment of condo investment in Cambodia is around 7.5 per year if compared to the same Asian markets, Cambodia’s investment provide more benefit as Thailand and Japan at 6.3 and 5.5 per cent respectively, China and Hong Kong are offering rent yields of only 2.7 and 3.3 per cent respectively, and Philippine at 7.1 per cent annually, according to a recent study of Century 21 Mekong. According to a report of real estate agency Century21 condominium development increased by 20 per cent annually from 2008 to 2014 with 13 projects successfully completed, which translates to 3,090 available units as of today. With another 17 projects currently underway, the report predicted that by 2018, when many of the current projects are slated for completion, the number will have more than tripled to over 10,000 available units across Phnom Penh. Cambodia’s per capita GDP is forecast to reach $1,220 this year, up from $1,123 last year, according to official data. This places the country near lower-middle income status. Its new forecast comes just a few weeks after the Asian Development Bank revised its March forecast for economic growth this year from 7.3 per cent to 7 percent. The construction sector has become the most dynamic engine of growth, partly due to the return of political stability and a revival in consumption; however, the tourism sector is underperforming, despite the initial recovery in tourist arrivals to Thailand. Tourist arrivals during the first six months grew by only 4.6 percent (reaching 2.3 million visitors), compared to 6.9 percent during the same period last year, the report from the World Bank said. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.
D’Seaview Construction Moving Fast
D’Seaview Construction Moving Fast
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
The official opening ceremony for the Camhomes’ Sihanoukville office was held last Saturday, March 26, graced by a host of honourable guests, including Oknha LAV Kang from the Sihanoukville Chamber of Commerce. With the launch of Camhomes’ Sihanoukville sales office, opening daily beside the 2 Golden Lion Roundabout, Camhomes can now provide investors close-proximity information about D’seaview and other upcoming Camhomes’ projects. It is also just minutes away from the buzz of the D’Seaview construction site... The D’Seaview construction is moving very quickly now. Already, 14% of the piling works are completed under the guidance of an international team of engineers, supervisors and construction professionals. Having accumulated more than 25 years of experiences in the design, construction and management of property developments in Singapore since 1988, D’Seaview will incorporate the latest in construction methods and modern building management concepts from Singapore.  The use of precast panels will allow for a smoother and more consistent finish throughout the complex; hollow core precast panels also allow service connections to be hidden within the wall therefore minimising the need for hacking and plastering or exposed ductworks; quality international standard fittings and fixtures will be used throughout, along with homogenous floor tiles, safety glass ( for windows which extends below 1m height), and a safe and quality assured elevator system; wall tiles to wet areas come standard, and beautifully-crafted roof terraces are provided for selected units; finally, all bathrooms have windows to allow for natural light and ventilation, and all enclosed kitchens have windows for ample ventilation. Naturally lighted and ventilated corridors, via cross ventilation, ensure a high level of comfort in all common areas within D’Seaview. As importantly, your new home will be a safe haven – with a high level of security via separate commercial and residential car park levels, card access and an integrated intercom service. Residential units will enjoy unrestricted sea views through design thanks to D’Seaview’s efficiently shaped floor plans. Prime units also include spacious balconies for outdoor enjoyment. Luxurious amenities shall fall at your doorstep, with subscription facilities such as a pool cafe, swimming pool, kid’s room, yoga room, library, and fully equipped function rooms. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showrooms in Phnom Penh at the Canadia Tower, level 3, or in Sihanoukville, Golden Lion Roundabout 2.Or check out the full listing information online at realestate.com.kh.And if you're in Sihanoukville this weekend, call the local sales team for a tour of the site and showroom.
Sothea Thang, Architech: "simplicity and strength through purity"
Sothea Thang, Architech: "simplicity and strength through purity"
June 6, 2022, 5:05 p.m.
Realestate News
Realestate.com.kh spoke with talented freelance architect & accomplished artist Sothea Thang about innovative architectural design and how to add value to your property.Sothea Thang is a self-taught Cambodian artist born in 1983. He graduated from Norton University in Phnom Penh with a degree in architecture and urban planning, and he worked at an architectural agency from 2007 to 2010. In September 2009, Sothea took a leave from his architectural position and turned to painting for a break from his office job. This soon became his vocation when he developed “Happy Together”, his first collection of paintings. The series was commissioned by a Siem Reap hotel and was exhibited later that year, and its success pushed Sothea to explore his skills across visual media, even as he continued to work as a freelance architect. In 2011, he opened his own studio-gallery in Phnom Penh, Top Art Gallery.What made you decide to be an architect?Sothea Thang: As a child with a wild imagination, I always enjoyed all kinds of creative activities. When I finished high school, I looked around at the art scene in Cambodia. The scene was small and there were not many opportunities for local artists at that time. I thought about what I could do for my studies that was still connected with creative activities and thus decided to try architecture. I found I really enjoyed studying the subject at university and that led to my continued work in the field. What trends do you feel are important in architecture/design?Sothea Thang: I appreciate naturalistic aspects that emphasize space, functionality, and light. Green space is important too. Architecture is about merging elements in designing a structure, and I feel it's necessary to bring these things all together into the building as well. What is your design philosophy?Sothea Thang: Simplicity and strength through purity. Less is more. Practical yet beautiful. I like to bring about something that is unexpected; creating new forms within older structures and merging them together. This can be challenging but has often led to my most unexpected and novel successes.What key aspects are essential for innovative design?Sothea Thang: Space: the feeling when you walk in, that it's an open space with light, air and with green/natural elements. You feel like you can breathe. Also need to study and consider what's around the building. The result is needs to fit well. The materials inside and outside also need to fit with a vision and belong with those naturalistic elements informing the design.  Some businessmen today, they build without thinking about the space itself or about the surroundings, they just build and want to sell. But this omits any thought about the people living, working, or passing time in that space.What's happening in Cambodia in terms of "green" or sustainable design?Sothea Thang: In Cambodia, we don't really see this a lot right now. Past architects have paid more attention to the light, the air, the rain, but today we see buildings going up quickly with focus on maximizing profit. For example, they make housing developments, and they divide the land plots as much as they can to maximize the number of units available for sale. This minimizes space for greenery, it blocks out light and air, and it actually leads to increased energy and water costs. From one unit to another, the space is not enough. No attention to trees or nature, and not enough focus on the space within the units they build. How do you know if a building is well designed?Sothea Thang: There is more attention to the way the elements flow in and around the structure, better technical connections such as water pipes, drains, and electricity. I look at the details and the quality of the chosen materials. These signal the quality of the construction work. I also look at how the space is arranged to determine what kind of concept there was in the design. The finishing on the walls or the way a floor is polished, signal to me the intentions and the techniques behind the designs.Regarding renovation, what elements add the most value to a property?Sothea Thang: When I'm renovating an old building, it's important for me to determine the existing elements of the space. Then I try to retain key features of the building while merging my own contemporary additions into the structure. Often, the key step is opening up the blocked interiors of the property. I select higher quality materials, open up the space to more light and air, add green features, and maybe create some aesthetic flourishes. My clients have appreciated when the spaces are opened up to more light and air. This also requires thoughtful consideration of the overall floor plan and the way people actually walk through the rooms and use the space. Modernizing the appliances and updating the materials with higher-quality detailing are also key. This is the same for every part of the house: living room, kitchen, bedroom, bathroom, and terrace/garden. This interview has been edited for length and clarity purposes.
Phnom Penh Residential Market: Lifestyle Choices Changing
Phnom Penh Residential Market: Lifestyle Choices Changing
June 6, 2022, 5:06 p.m.
Realestate News
Year after year Phnom Penh is changing very quickly. New infrastructure, business centers and modern-style residences are spreading across the capital, and it seems the ideal lifestyle sought by Phnom Penhers may be transforming too. Realestate.com.kh takes a look at the changes in consumer trends in the Phnom Penh Residential Market as of 2016.The standard of living in Phnom Penh increasingly includes high standard amenities, privacy, security and a lifestyle that revolves fore-mostly around convenience. This is quite a change from the landed wooden bungalows that used to define the riverside city.Many new residential projects being launched in Phnom Penh are importing international standards of urban living with a key focus on the project site locations and livability in design. If new development projects don’t rise to these new standards, it is becoming increasingly hard to compete in the Phnom Penh residential market. Check out the latest new development projects now!The residential projects in Cambodia encompass all kinds of property; villas, flathouse, link house, penthouses, colonial mansions, condos and apartments. This gives Phnom Penhers a lot of choice... But as the city grows, along with congestion and a lack of affordable land, apartments and condos are becoming the natural choice for inner-city Cambodians with work demands and budget constraints. And clearly developers feel the market will move this way in the next few years, based on the hundreds of new condo projects underway in and around the Capital...But is this really the new lifestyle choice for people living in Phnom Penh? And if it is, why?“Customers requesting a home loan to buy a condo or apartment are growing, including both locals and foreigners. Local people want to test this new lifestyle - they think this type of residence is comfortable and very convenient, especially if the price is acceptable for local buyers’ incomes. The most important feature for a condo or apartment for new buyers is that it is well located in the downtown areas, close to places of work and entertainment venues,” says Ms. Heng Sreyneang, home loan officer at Canadia Bank. Ms.  Sambath Chanpisey, sale consultant at the Diamond One project said that, “Cambodian people are very interested in modern residences, and especially condos or apartments. They want to live like city dwellers in more developed countries. Meanwhile, foreign buyers, namely Malaysian, Japanese, Singaporean and Chinese buyers, buy condos and apartments in Phnom Penh for investment purposes and, sometimes, living.”Mr. Pen Pisey, a local Phnom Penher and real estate investor, says that, “I’ve owned an apartment for 2 years near SanSomKosal pagoda. I bought it with a loan from the bank. I never bought it for investment purposes or rental returns - I just want to live in the apartment because I feel secure and it offers great privacy.” Mr. Rosdra Thipadey, who works in a private company in Phnom Penh, said that, “I have lived in Rose Condo for 2 years already; it is so convenient, secure and located in the heart of the business district. Especially good, is that I have privacy and we can find all the services I need right here in the residence - such as a supermarket, gym, swimming pool, and many more things that make my life easier. I am so glad and feeling cool to live in Rose Condo.”The new face of Phnom Penh is defined by modern developments. The vision of investors is that one day this will become the accepted and preferred type of housing in the central city, as it is in other regional business hub cities. 38.9% of the Cambodian population falls within the middle age bracket - the perfect demographic to accept this new vision of a modern lifestyle and a high standard of living. People in Phnom Penh seem to be adjusting themselves to living the modern city life very quickly, despite high-rise life being a very new concept in Cambodia.NEED A CONDO?
Urbanland consistently impresses industry leaders and consumers alike
Urbanland consistently impresses industry leaders and consumers alike
June 6, 2022, 5:06 p.m.
Realestate News
Urbanland is firmly setting themselves above the competition when it comes to Phnom Penh inner city design and residential development.  Their hugely successful Embassy Residences project, set for completion by the end of 2016, has sold 90% of all its available units. This year also heralds the upcoming launch of their second condominium project, Embassy Central. Mostly through word of mouth and exclusive networking and open house events, Embassy Central has steadily seen increased buzz and interests from buyers and investors. Hok Kang, the founder of Hok Kang Architects and Urbanland, is also the principal architect behind the leading locally owned cafe chain, Brown Coffee. Launching its first Brown’s branch on the capital’s Street 214 in 2009, the chain now has 11 unique locations each with its own architectural flare thanks to Hok and his team of architects & designers. While each Brown Cafe in Phnom Penh reflects consistent architectural and interior design themes, all embrace their own individual spin; a franchise style that the Phnom Penh cafe culture seems to have wholly accepted. Urbanland consistently separate themselves from rival projects with their attention to detail and sleek, usable design, and this is clearly demonstrated at the highly popular outlets of Brown Coffee, each humming morning and night with coffee-sipping Phnom Penhers. Meanwhile, both of Urbanland’s condo developments have heralded popular success too, for many of the same reasons. Both Embassy Residences and Embassy Central were not only shortlisted for the Cambodia Property Awards 2016 on 25 February but in fact both were awarded top in their entered categories. Embassy Residences was awarded the “Best Condo Development in Central Phnom Penh” award at this year Cambodian Property Awards series, and both Embassy Residences and Embassy Central were awarded the “Best High Rise Residential Architectural Design” prize. Upon winning the awards, Victor Huot, Urbanland's Marketing Manager said: "Being a new developer, we feel that we can separate ourselves by focusing on creating great quality spaces that we know this market needs and being awarded the top prize for both our projects gives us the confidence to keep heading in that direction." Urbanland enters all of their projects with a clear and uncompromising vision, and this confidence and demand for quality is impressing buyers.Embassy Central, an 119 unit, 25 storey condo, holds a prime location in Boeung Keng Kang 1 (BKK1), Cambodia’s classiest suburb and home to some of the city's best shopping, eating and entertainment venues. Residents can enjoy the swimming pool, multi-function room with courtyard, fitness center, sauna, outdoor dining area, and - unique to this development - residents will find some reprieve from the buzz and the heat of the inner city with the help of four idyllic sky-gardens. The project nearest completion, Embassy Residences, an 85 unit, 18 storey complex located to the south of Norodom Boulevard, shall feel the beating heart of Phnom Penh’s CBD. Facilities include guard house, underground car park, swimming pool and sundeck, children’s play center, fitness centre and lush sky garden. All condo units within Embassy Residences are furnished to the very highest standard and decorated in modern taste. "As a young local team, our mission is to help shape the landscape of Phnom Penh by creating buildings and spaces that inspire people and through this, we hope that people will start to demand quality designs and products like Embassy Central," said Victor Huot, Marketing Manager at Urbanland. Want to find out more about Urbanland’s projects currently for sale on Realestate.com.kh?Check out the full listing for Embassy Residences; and the exciting new project: Embassy Central.
Camhomes’ Sihanoukville Office Launch!
Camhomes’ Sihanoukville Office Launch!
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
D’Seaview brings Sihanoukville’s first fully integrated residential and commercial mixed development, located alongside Sihanoukville’s most beautiful beaches.D'Seaview is selling fast! Inquire todayWith its twin towers standing at 28 storeys each, D’Seaview will bring a collection of premium executive condominiums, commercial units and a hotel to Sihanoukville’s pioneer integrated living complex. The official opening ceremony for the Camhomes’ Sihanoukville office will be held on Saturday, March 26, 2016 - This Saturday! The location of the office, where the opening ceremony will be held, is at Independence Street, beside the 2 Golden Lion Roundabout, Sangkat 4, Khan Mitipheap, Sihanoukville City. This Saturday’s opening ceremony will open to the public from 8:30AM. The chief guest of honour will be Oknha LAV Kang, from the Sihanoukville Chamber of Commerce, will also be sharing about Sihanoukville’s 5 year real estate development plan at the ceremony. With the opening of Camhomes’ Sihanoukville sales office, Camhomes can now provide investors more close proximity information about D’seaview and other Camhomes’ projects. Residents of D’Seaview can expect to live, work and play within the integrated commercial mixed residential development complex in the future, with their daily needs and desired lifestyle fully satisfied within the compound. The first phase of residential units in D’Seaview have already been fully subscribed with its second phase gaining more subscriptions everyday. D’Seaview is also supported by Camhomes’ unique Guaranteed Rental Returns offering: a significant 30% GRR over three years. With the booming tourism industry in Sihanoukville to both local and international visitors, D’Seaview’s integrated hotel and its local shophouse-style blocks are also open to bids from investors and Cambodian retailers looking to maximise their investment returns. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showrooms in Phnom Penh at the Canadia Tower, level 3, or in Sinhanoukville and talk to their property consultants, or check out the full listing information online at realestate.com.kh. And if you are in Sihanoukville this weekend, don’t miss the D’Seaview opening ceremony on Saturday morning. To find out more information about the Camhomes’ Sihanoukville Office Launch, please call +855 23 985 828 today.
Guide to Real Estate Law in Cambodia, from BNG Legal
Guide to Real Estate Law in Cambodia, from BNG Legal
June 6, 2022, 5:05 p.m.
Realestate News
BNG Legal Cambodia has released their latest version of the Guide to Doing Business in Cambodia which contains extensive information about Cambodian real estate law and property regulations.This extremely comprehensive Guide to Doing Business in Cambodia gives valuable information for investors and Cambodian-based business people on Banking and Finance, Corporate & Commercial Law, Dispute Resolution in Cambodia, Intellectual Property Laws, Labor Law, Mining Law and Regulations, Marriage and Family Law - and last, but certainly not least, a comprehensive overview of Cambodian law related to Land and Construction.In regards to Real Estate Law and Regulation, the BNG Legal Guide to Doing Business in Cambodia duly covers Legal Ownership of Land in Cambodia, Acquisition of Property in Cambodia, Potential Risks, Enforcement of Property Rights, Establishing Control over Land, Perpetual Leases, Land Concessions, Construction, Encumbrances on Immovable Property and Recently Issued Regulations and New Procedural Rules.This is a great guide for those trying to get their head around Cambodian Property Law.BNG Legal Cambodia our a unique law firm in the Kingdom, able to offer a deep understanding of the local business environment while simultaneously supported by international professionalism and integrity. BNG Legal facilitate business, investment and trade between Cambodia, Myanmar and the rest of the world through innovative and cost-effective legal services. BNG Legal offer all range of real estate related legal services, including residential, commercial and industrial property transactions, Lease negotiation and agreement drafting, title search and due diligence, land registration and titling, agricultural land concessions, financing, mortgages and other securities, construction contracting, permitting, and financing, environmental compliance consulting, advice on Special Economic Zones and tax-optimization.Contact BNG Legal today at: cambodia@bnglegal.com / hhn@bnglegal.comDOWNLOAD THE GUIDE TO DOING BUSINESS IN CAMBODIA EBOOK NOWCheck out articles, news, and views related to real estate law on Realestate.com.kh today!
What are Global Investors Intentions in 2016? CBRE
What are Global Investors Intentions in 2016? CBRE
June 6, 2022, 5:06 p.m.
Realestate News
CBRE’s 2016 Global Investor Intentions Survey is the culmination of interviews with more than 1,250 major investors worldwide. The 2016 CBRE survey shows that investors are still strongly expansionary, reaching outside of their local markets, with 82% of respondents indicating that their external investment activities will be the same or greater compared to 2015.“The report highlights global investors’ clear appetite for expansion, with 82% of respondents indicating that their investment activity will be the same or greater compared to 2015. 37% of those surveyed stated capital appreciation as their principal requirement, combined with a renewed focus on core assets benefiting from consistent revenue streams," said Chris Hobden - Manager of Research, Consulting & Valuation at CBRE Cambodia.While there is currently limited existing stock of significant, income-bearing commercial assets being offered in the Phnom Penh market, we saw a clear rise in interest from international groups in exploring such opportunities in country over 2015. As the local market develops further, and a greater diversity of stock comes on stream, we feel that Cambodia will be well placed to draw attention from the 4% of major global investors noting ‘Emerging Asia’ as their primary focus for investment over the course of the year,” continues Hobden.Property returns are particularly appealing in low‑yield world according to the CBRE report: “The single most important motivation for investment in real estate is the expectation of capital gains: 37% of respondents state this is their main reason for investing in the sector (Figure 14). Americas based investors are more interested in this component of return than those of other regions. This said, 25% of global investors mention the steady income from rents and a further 15% say yield relative to debt or other asset classes as their top motive. EMEA-based investors have a relative preference for income and yield. Asset class diversification is most important for 11% of investors, but only 3% state that geographic diversification is important. As interest rates in some areas of the world head into negative territory and are set to remain lower for longer in others, we suggest returns will continue to attract capital even if there is only modest rental growth.”Check out a cool infographic on Retailer trends in Southeast Asia, also from CBRE
Axis Residences unique quality commended at the Cambodia Property Awards 2016!
Axis Residences unique quality commended at the Cambodia Property Awards 2016!
June 6, 2022, 5:04 p.m.
Realestate News
AXIS RESIDENCES is proud to be the First Cambodia Development by a Singaporean Developer to receive the 'Highly Commended Award' for the “Best Condo Development (greater Phnom Penh)” at the inaugural Cambodia Property Awards 2016, part of the Asia Property Awards series.And why not? Axis Residences is proving to be a trailblazer in the Cambodian developments market - setting the benchmark with a host of innovative design, finance and quality features.Axis Residences is the pioneering condominium in Phnom Penh to adopt sustainable solar PV technology (Solar Panels) into the development.By doing so, Axis Residences will be the first and the only condominium in Cambodia that incorporates this innovative green feature that benefits the buyers with both a stable electrical supply and a reduced utility and maintenance bill. It is also nice to know that your home is supporting the reduction of carbon footprint for our mother earth and elevating a cleaner Cambodia into the new century.By utilizing clean renewable energy from the sun, all residents at Axis Residences benefit from cheaper maintenance rates and likewise reduce the carbon footprint of the condo in its entirety. The green energy generated from the rooftops of Axis Residences reduces CO2 emissions equivalent to that of 3222 trees every year. Axis Residences is the forerunner for new quality condo developments in Cambodia – and firmly believes that innovation as such will pave the way for future condo and commercial developments in considering the incorporation of clean sustainable energy sources in their design.The sleek and contemporary design of Axis Residences is also impressing Cambodian celebrities and film makers. Recently, the renowned film production company, Hong Meas HD TV, has been using the Axis Residences showroom to film various drama series and movies.The directors and producers of these productions are well-aware that the younger generation of Khmer are craving a higher standard of living, and a taste in design style that the market currently sorely lacks. Because the Axis showroom epitomizes the style and quality that the new generation of home buyers are craving, and feature brand name appliances and fixtures throughout, it is only natural that Axis Residences should be the ideal location to film these popular films and drama series.Spring CJW, the renowned Singaporean development company behind Axis Residences, however, is well-aware that many younger Khmer interested in purchasing their first condo home currently lack access to sufficient finance to make such a dream a reality…With that in mind, Spring CJW has created a very attractive 15 year end-financing package in partnership with Phillip Bank, uniquely designed for their customers. As the payment schedule for this loan is based on each construction stage, off-plan buyers will only have to pay as each stage of the development is completed.The Partnership between Axis Residences and Philip BankThe Phillip Bank loan package, available to Axis Residences buyers, only charges interest for the amount that is supposed to be paid. For example, if the sub-structural phase of construction is competed, just 10% has to be paid to the developer by the end-buyer. This means that customers who purchase via the Phillip Bank loan will only need to incur interest for that initial 10%.This is not a common practice at all in Cambodia, as most projects will charge the loan interest on the full sum owing, and few banks are willing to support condo buyers. Not only that but, again uniquely, the principle sum for the Phillip Bank loan will only be payable at the completion of the Axis Residences project in its entirety, which is around 2 years later. Customers who use the Phillip Bank loan option will thus be looking at only around a $90 installment payment per month for the first year.This is not only affordable for young buyers, but acts as a guarantee that the project is completed to the promised standards, in the promised timeframe. Although this is Spring CJW’s first condo project in Cambodia, they have entered the market to stay – and customer-friendly initiatives such as this are a testament to that!At Axis Residences, younger buyers are offered a chance to secure a state-of-the-art home on finance terms that they can genuinely afford. This is a golden opportunity for young couples to own a new home with a lifestyle that will be the envy of their peers for many years to come.If you would like to learn more about Axis Residences, click HERE to check out the full listing on Realestate.com.kh today.Inquire directly with Spring CJW and join their friendly and knowledgable property consultants right here in Phnom Penh for a tour of the famous Axis Residences showroom.Click HERE to request an information pack today!
Caring for women in the Construction sector: CARE Cambodia
Caring for women in the Construction sector: CARE Cambodia
June 6, 2022, 5:05 p.m.
Realestate News
Taking a stroll around Phnom Penh is enough to show anyone that the real estate and construction sector is booming. Investments have risen from US$840 million in 2010 to US$ 2.7 billion in 2013.But did you know that approximately 30 per cent of the workers on construction sites are women?Women, along with men, are building Phnom Penh and it’s important for them and their families that they are treated fairly and protected. That’s why CARE International is undertaking the EU-funded project: Labour Rights for Female Construction Workers. The project aims to enhance protections for women in the construction sector and builds upon CARE’s proven history of improving women’s working lives in the hospitality and garment industries. This project is a chance for responsible construction companies and developers to work with CARE to make sure investing in real estate is investing in the community. Interested private sector partners can take part in this project with CARE on to build up their corporate social responsibility portfolio.But beyond CSR, investing in women has been found to make good business sense. When companies invest in their female workers, they are much better placed to notice talented individuals that can contribute more. Why waste the potential of your women workers when, with the right support, they could be your best employees?CARE’s approach in this construction project is threefold. CARE, through local partners, will work with women directly to improve their capacity. This will include facilitating peer-to-peer training to help women understand protections in place, their own potential and encourage them to make the most of work in construction. It will also include educational resources that will be offered for free to workers.By engaging with employers and peak bodies, CARE will help construction companies and developers to invest in the human capital of their female workers through providing training to managers and human resources personnel. CARE will work with women workers and the private sector to facilitate avenues of communication between managers and women workers to provide managers with better understanding of the specific situation of their female workers. To complement these approaches, CARE will also work with Government stakeholders to improve institutional protections.CARE is looking for industry partners in the real estate and construction sector to be part of this project.If this is something that interests you, please contact the Project Manager, Ms Kalyan Rath, at kalyan.rath@careint.org or Adviser, Ms Adriana Siddle, at adriana.siddle@careint.org.
Phnom Penh Infrastructure Rising
Phnom Penh Infrastructure Rising
June 6, 2022, 5:05 p.m.
Realestate News
To cope with the city’s expansion and rapid growth in vehicles, more infrastructure projects are expected to be completed in Phnom Penh before 2020.At the grand opening of the 5-January Overpass (Techno Overpass), Prime Minister Samdech Hun Sen approved several more projects for the capital. After acknowledging the ongoing congestion at the Kbal Thnal Sky Bridge, construction will start soon on an additional curved overpass and underground road near the existing bridge. The US$10 million project will see an 810 metre overpass and a 606 metre underground built by the Overseas Cambodian Investment Corporation (OCIC). This is a great boost for Phnom Penh infrastructure! An underpass at the junction of Russian Federation Blvd and Preah Monivong Blvd (PKC stop) will also be constructed by OCIC to ease traffic in the vicinity. The plan features a 340 metre long, 15 metre wide road running through a 5 metre high tunnel. Following a successful soil analysis conducted on January 8, construction will commence later this year.Another overpass will be erected at the congested intersection between Russian Federation Blvd and Hanoi Street reflecting the significance of Russian Federation Blvd as the main artery connecting the city centre and the airport. The bridge is to be 611 metre long and 16.5 metres wide and will be built by Chinese Shanghai Construction and financed by the Chinese government.Phnom Penh will see also its first elevated expressway that will stretch 13km above the existing rail line connecting Preah Monivong Blvd and the international airport. The toll road will help ensure air passengers do not miss their flights due to congestion. While City Hall previously announced that the project is being developed by a Chinese investor, it appears that OCIC is also negotiating with City Hall to win the bid for this project. Muhibbah Engineering (Cambodia) Ltd has also claimed to have won the bid to build a $200-million expressway connecting Phnom Penh’s downtown to National Road 4 and the capital’s airport. Stretching over 14km, the 24 metre wide, 4 lane highway will also run parallel with the current rail track that connects Toul Kork Roundabout to National Road 4. The Phnom Penh infrastructure project will commence soon once compensation to affected households has been completed this year.A 220km highway linking Phnom Penh and Ho Chi Minh City worth around US$2.2 billion proposed by the Japanese International Cooperation Agency (JICA) has also been announced with completion hoped for by 2030.The capital will also see construction of a second ring road that will run 16.67km across two lanes from Russian Federation Blvd to National Road 2 across the districts of Dangkor, Sen Sok, Meanchey heading south to Takmao town, another boost for Phnom Penh infrastructure. The road will be built by Chinese Shanghai Construction via Chinese government financing. Built with 20-cm thick concrete it will be 23 metres wide with a 1.5 metre drainage system on both sides. The exact starting and completion dates for all these projects are not yet known.While the government is pinning its hopes on more infrastructure solving congestion, urban planning expert Dr. Van Vat told the Phnom Penh Post that infrastructure projects alone can’t mitigate the jams.  “To avoid this problem, we need to have a detailed plan for each district as to which roads need to be expanded in the next five or ten years, and which roads will have overpasses,” he stressed, adding that, “If we don’t do that, the congestion issue will continue.” Dr. Vat also requested the government to limit vehicle imports and design and implement appropriate traffic light systems.This article was submitted by: Tim Vutha, Construction and Property Magazine
Knight Frank Prime Asia Development Land Index released
Knight Frank Prime Asia Development Land Index released
June 6, 2022, 5:06 p.m.
Realestate News
4 March 2016, Singapore – Knight Frank, the independent global property consultancy, today releases the Prime Asia Development Land Index for H2 2015. The index derives the price of prime residential (apartment or condominium) and commercial (office) development land in 13 major cities across Asia.Knight Frank Prime Asia Development Land Index shows prices of residential sites in the region appreciating 3.0% in H2 2015, up from the 1.2% seen in the previous six months. On the other hand, the price growth of office land slowed to 1.5% from 3.6%Report highlights:H2 2015 witnessed development land investment volumes in Asia rise by 14.1% year-on-year.Cross-border volumes increased by 55.3%, driven by intra-Asian investment flows.China bought almost two times more land in the rest of Asia.While the average price of a piece of development land has been climbing steadily since mid-2012, the average land size has been shrinking. In Indonesia, the government’s efforts to tackle tax evasion is discouraging big-ticket purchases.Mr Nicholas Holt, Head of Research for Asia Pacific, says, “The confluence of easing construction costs and rising residential prices and office rents propelled Phnom Penh’s prime land prices upwards. Although the growth rates in H2 2015 moderated slightly from the previous six months, they nonetheless were among the fastest in the region.“Tokyo’s prime residential land index recorded the fastest growth among the cities tracked in H2 2015 – it is also the only market that outperformed Phnom Penh. With Japan joining the negative interest rate club, there could be more yield compression and price appreciation.”Download the full report!
Where to Buy Development Land in Phnom Penh: Realestate.com.khTV
Where to Buy Development Land in Phnom Penh: Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by RealEstate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home. Missed Part 1 or Part 2?On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal, about where to buy development land in Phnom Penh. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 3: WHAT ARE BEST AREAS TO BUY DEVELOPMENT LAND IN PHNOM PENH?Realestate.com.kh: What districts are the best to buy in in Phnom Penh for developers?  Say if you got a new developer client seeking consultation, which areas would you recommend buying land in now for a new development project?In Sitha: I think right now Chamkarmon District is one of the four districts of Phnom Penh that I would consider as the good place to invest at the moment and into the future. I think that's where to buy development land in Phnom Penh. Realestate.com.kh: Land's expensive right?In Sitha: Yeah, the land is little bit expensive but it's still good to invest. As you see, Chamkarmon District is the place with the most expats, restaurants and the prime hotel area of approximately 1,073.72 hectares. In this district, I consider two communes, BKK1 and Tonle Bassac, to be best to invest in.Realestate.com.kh: Which ones?In Sitha: Number one is Boeung Keng Kang 1 and number two is Tonle Bassac. You see, they are in the central area, so the southeast of Independent monument, and this district has a lot of wealthy residents, NGO, corporates, etc. And the landscape is very nice, very beautiful and wide, leafy streets. Realestate.com.kh: Will developers who choose to build in BKK1 increase their chance of higher rental returns?In Sitha: That's correct.Realestate.com.kh: Because of all the expats and lots of money in this area?In Sitha: In Boeung Keng Kang 1 and Tonle Bassac, there are many rich people. One unit of a serviced apartment with two bedrooms can be priced from 800 US to over 1800. Yet, ultimately, it is based on the quality and the design of the construction.Realestate.com.kh: Much, much higher than the rest of the country?In Sitha: Yeah, it makes it a good investment opportunity if for a one bedroom unit you can get almost 1000 to 1500 in rental returns. These areas offer easy access to all sorts of entertainment and food venues, and also the government institutions, hospitals, international schools and universities. This is a centralized area. Market price increases yearly so this is a very good place to invest in these two sangkats/communes.Loving it? Then you should watch part 4 now:WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERS coming soon