NEED A VALUATION FOR YOUR HOME OR BUSINESS? Realestate.com.kh was extremely proud to sponsor and support the BritCham & IBC Luncheon and Panel Discussion on Property Valuation in Cambodia: “Addressing the Gaps.” The development of the Cambodian valuation industry is a core factor is creating a sustainable real estate market. BritCham and IBC in partnership with the Royal Institution of Chartered Surveyors (RICS) and the Cambodian Valuers and Estate Agents Association (CVEA) welcomed the Cambodian business community to a focused business luncheon on the topic of valuation of property in Cambodia: “Addressing the Current Gaps.” The event was held of Tuesday 19th April with a panel of experts sharing their perspectives, followed by an open discussion with the audience on the state-of-play of valuation in Cambodia. About the Panel Speakers:Salim Aslam, ASEAN Manager, Royal Institution of Chartered Surveyors (RICS):Salim is ASEAN Manager for the Royal Institution of Chartered Surveyors (RICS). RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. The organisation accredits 118,000 professionals and any individual or firm registered with RICS is subject to it’s quality assurance. The UK Government’s Foreign and Commonwealth Office and UK Trade and Investment commissioned RICS to produce a report on Building or Fire Safety standards in the construction sector the topic with a view to providing the Cambodian Government with assistance in developing building standards and ensuring better regulation. The Report’s findings and recommendations were presented to and welcomed by the Government last year. Ross Wheble, Country Manager, Knight Frank Cambodia:Country Manager for Knight Frank in Cambodia and oversees all areas of the operational business. Established in the UK in 1896, and now with more than 417 offices in 58 countries, Knight Frank is the world’s leading independent real estate consultancy. As one of the largest and highest profile valuation practices, Knight Frank’s team of professional experts provides a comprehensive range of valuation and market appraisal services across all sectors, valuing in excess of $1 Trillion’s worth of land and buildings in 2015 globally, including some of the world’s most expensive real estate. Holdings a Master’s Degree in Property Valuation & Law, Ross is a qualified Chartered Valuation Surveyor with the Royal Institution of Chartered Surveyors (RICS) and co-ordinates valuations throughout the Kingdom. Kim Heang, President, Cambodian Valuers and Estate Agents Association (CVEA):Kim Heang is a seasoned professional in the Real Estate industry, Business Development, plus a proven leader with the ability to leverage past experience and amazing creative knowledge towards the attainment of company goals. He has a background in both start-up and working with fast growth innovative companies and specialize in building a company’s capabilities to rapidly increase revenue, service levels and profits. Currently, Mr. Heang is the President of the Cambodian Valuers and Estate Agents Association (CVEA) and the founder/CEO of Khmer Real Estate Co., Ltd. BROUGHT TO YOU BY:SPONSORED BY:

Cooling measures and uncertainty in the Singaporean property market will see investors flock to the “Emerging Markets Property Show” at the Marriott hotel on the 8th – 9th October 2016. The show is a collaboration between Cambodia’s leading property portal website, Realestate.com.kh, and Asia’s leading property portal network, the PropertyGuru Group.Annual events such as the “Emerging Markets Property Show” held in Singapore this October are uniquely structured to open up new opportunities in overseas property demand for Cambodian based developers. At the show, prospective property investors will have the privilege of gaining first hand information from these developers themselves and a panel of expert speakers. The show provides an avenue to reach out to quality investors looking to purchase Cambodian properties – be it for short term rental yields, long term capital appreciation, or simply for retirement. And Singaporeans are increasingly targeting the Cambodian market for a variety of reasons. Property Cooling Measures by the SG Government of late, such as the Additional Buyer Stamp Duty (ABSD), meaning Singaporeans need to pay additional 7 percent tax for 2nd property and 10 percent on 3rd or more property; and the Total Debt Servicing Ratio (TDSR), which effectively limits the amount that Singapore financial institutions can lend out, capped at 60% of a person’s gross monthly income, are all policies that are pushing investors to look abroad. Despite these cooling measures, there remains a lot of capital liquidity and huge wealth in Singapore. Meanwhile, KHR depreciation against the SGD makes property investment in Cambodia especially attractive; and additionally, Cambodia offers an economy where their investment then remain in US$. The upcoming show in October comes after a highly successful “Cambodia Property Show” held in Singapore in last month. In reference to the previous show in May, Sam Yang, CEO of Eastland Development, a company with a host of Cambodian-based development projects, said that, “the attendance across both days at the Cambodia property show last weekend, on site sales and the 25+ Singaporeans now booked to travel and visit my development sites in Cambodia, is proof that Singaporean investors now identify Cambodia as a prosperous investment landscape.”A Singaporean investor at the previous 2 day expo mentioned that, “Cambodia presents an attractive proposition as an investor, and the returns are a lot more attractive than Singapore; but also neighboring countries – for example Thailand.” He went on to say, “the development infrastructure such as improved motor ways, SEZ’s, deep sea ports and a slated rail network will only add to investor confidence in the Cambodian real estate market moving forward.”The next show in October promises to build on this success!Date: 8th – 9th October 2016 Time: 11am – 7pm Venue: Singapore Mariott Tang Plaza Hotel (Strategically located above the Orchard Road MRT station) Want to take your development to the Singapore market? Contact Realestate.com.kh now while early bird specials still apply! Call us today on 012 286 711,  077 800 917, 017 436 756 or 096 966 9059

There are several reasons why people look for properties to buy... Either they’re looking for their first personal property investment in Cambodia to live in; or adding a new asset into their investment portfolio.Whatever the scenario, there are several factors that you would need to consider before buying an investment property in Cambodia.One of the most important factors must be where that property is located if you want the best chance for capital appreciation and rental returns. The location is one of the most important things to discuss before you decide to purchase a property. It will dictate your lifestyle quality, your travel connections and your overall living expenses, especially in major cities like Phnom Penh, Siem Reap and Sihanoukville. Making a clear decision where is best to put your money will make your job of property hunting much easier. But investment property shopping in Cambodia can be confusing at times, especially for international investors. Since it’s a growing economy, there are plenty of properties to choose from in all parts of the country. These can range from simple flat houses in the inner city, perfect for renovation, to luxurious condominium units bought off-plan in Phnom Penh and Sihanoukville. The question remains though. Which area should you invest in? In a sit-down interview with Realestate.com.kh, the CEO of Khmer Real Estate and current President of the CVEA, Mr. Kim Heang, reveals all the hottest areas property investment in Cambodia right now. When asked about which areas are the best locations for property investment in Cambodia, he says that it really depends on “what kind of purpose” investors have, and how fast they intend to see appreciation on their investment. Based on his years of experience in the Cambodian real estate market, here are a few things that might come in handy:Factory Investors: If investors are interested in setting up factories, Heang says that the best property investment in Cambodia opportunities would be around Road Number 3 and Road Number 4 where port access roads are all accessible and the streets are much wider than the inner city; two points which will assist your factory logistics hugely. He also mentions that workers are much easier to recruit in these areas.  So, there’s no need to worry about a shortage in manpower. If your capacity to manufacture grows, you can easily increase and expand your factory without running into any unnecessary issues in these areas.Middle Class Families and Young Couples: For young couples and middle class families, Heang suggests staying in the CAMKO City area and Phnom Penh Thmey is the safest bet.  Around this area there are more than 20 housing projects already under way - and more starting every month. Phnom Penh Thmey is set to become the “new city” of Phnom Penh, according to Heang. These include Borey projects all including a significant supply of villas, flat houses and some condos for those who wish to start their own family within a borey project; ideal for those who want to bring their family to live in a more secure living space with a healthy community environment. Since most of these projects around CAMKO City and Phnom Penh Thmey have not yet reached completion.Heang adds that if you already have the money available, now is the perfect time to buy - because of its lower asking price pre-completion and its future potential for appreciation. It is expected that once the developments are complete, people will flock to buy in this area and demand will rise significantly. This will lead to an increase in the salable price of all the properties. Savvy investors, therefore, should get in now while the price is low.Commercial Space Investors: If you’re an international investor looking to place your money in something with an upper class touch, but don’t want to spend as much as what prime and premier developers are charging, Toul Kork would be the best place to invest. Home to many expat residents, high-ranking officials and foreign business people, Toul Kork boasts of a relatively open and clean environment that still has lots of space available to build a new house or development project. This area will also see a significant rise in commercial spaces as more and more businesses set up shop here along the main artery roads.Upper Class Luxury: If money is not an issue, then you may want to consider a high-end property market in the most popular residential districts. Whether it’s a live-in upgrade or an investment property, these high-end properties, such as luxury condominiums, apartments and office blocks, offer an amazing lifestyle in the heart of Phnom Penh city. Properties like these can be found in the BKK1, Duan Penh and Riverside areas, considered the primary living space for international corporate workers, expats and prominent wealthy local families. Heang says that BKK is perfect for upper class living, but may cause trouble if you’re a developer planning on building a project there.Heang confirms that there is no height restrictions in the BKK area for new property development - but still new condos, office of hotel properties must be proportionate in terms of total area coverage and height. This is to properly allocate for ample parking spaces for each unit owner. Heang also warns that the BKK area might have reached its peak in term of land prices and now may not be the best property investment in Cambodia for pure-resale. Though helpful, these tips are just general guidelines from trends, market analysis and experience for considering property investment in Cambodia. What will matter in the end is what will be most relevant for you; how long until you want to liquidate your investment; and how you’re going to use the location to your advantage according to your investment goals. Want more video content? Checkout the Realestate.com.khTV channel now!

A happy family must live in a home that inspires joy - so it's important to find a house for you and your family that gives them all a warm feeling when they are return and sense of security as a future investment.Dream Home guarantees this warm feeling and that sense of home. The construction quality of the project is at the highest standard. Located just 6km from Chroy Changvar Bridge, in the heart of Ta Khmao, Dream Home sits away from the congestion of the inner city but within close reach for working commutes. Because of the popularity of this project to date, at Dream Home there are now only 4 flat houses still available. Each flat house for sale has 3 stories with 4 bedrooms, each bedroom sized 5m x 12m. The flats also include a big space for your personal parking lot, enough to accommodate 2 cars. This is a project with a good location and very clean environment suitable for you and your family to grow. Ta Khmao is set to become a high growth area of Phnom Penh due to is unique height above sea level. This means in future, this region of Phnom Penh will remain resistant to flooding. The river and the green space in this area are also much cleaner than in the denser parts of Phnom Penh city. And Dream Home offers you a special price only $125,000 for a 4 bedroom flat house. And while Dream Home only has 4 flats remaining for sale in this borey development, the developers next upcoming project will include a collection of villas and 30 flat houses for sale.Are you ready to be a new owner of Dream Home! Contact the agent for more info!

Internationals are increasing looking to invest their money in the Cambodian real estate market. According to the Ministry of Land Management, Urban Planning and Construction in the first 9 months of 2015 investments in the real estate and construction sector had a combined worth of $1,752 million, as compared to $1,540 million during the same period in 2014, which means an annual increase of 13.8 percent. This is great news for the new developments market! According to Knight Frank Cambodia’s research, namely the Cambodia Real Estate Highlights 2nd Half 2015, the top five investing countries bringing capital to the Cambodia property market were Korea, China, Japan, Britain and Malaysia. Meanwhile, international buyers are particularly motivated to secure property in foreign markets, with around 60 percent buying property with cash up-front.  The world is changing fast, and people are happier than ever to live, work and invest outside of their home nations. In fact, according to the United Nations, around 3.2% of the world’s population has already made the move to live outside their country of origin. This is one reason the international property market is getting hotter everyday. At Realestate.com.kh, through our developer’s marketing packages, we easily and automatically help Cambodian property developers enter the lucrative international property market, make international real estate connections, and, ultimately, sell property to wealthy international buyers – all without leaving their computer chair. Established in 2009, Realestate.com.kh is a website business focused on helping people buy and sell property; and developing the Cambodian real estate market’s exposure to the world! All the leading real estate developers in Cambodia are working with Realestate.com.kh to develop their marketing strategy online and offline, and we are generating qualified sales leads for them everyday. For property sellers there is no need to waste your time and money listing property on other classified websites where user traffic is not related to property. Realestate.com.kh is ranked number 1 for search results on google.com and google.com.kh for almost all property search keywords related to Cambodia. Our website is also mobile and tablet optimized, which is perfect for Cambodia where this type of traffic holds a large market share. Meanwhile, we harness social media marketing to push your property to a wider audience, with over 70,000 Facebook followers and an audience of over 20,000 on LinkedIn. Realestate.com.kh also has a high level of traffic from international investors, around 30-50% of all organic website traffic. But in addition to this, for those developers that choose to list on our site we can also export that listing to international property portals around the world. Realestate.com.kh has an exclusive listing partnership with the Property Guru Group, Asia’s leading online property portal group used by more than 11 million property buyers and generating over 500,000 enquiries every month – as the market leading website across Singapore, Malaysia, Indonesia and Thailand. Your listings will be co-listed on all of these Property Guru websites when you list on Realestate.com.kh, generating high quality international sales leads for your sales team or exclusive agency! Furthermore, ListGlobally, another co-listing partner of Realestate.com.kh, is the largest international real estate advertising network in the world and publishes property listings on over 50 leading property portals around the globe – including famous websites such as I-Property Singapore and Malaysia, Realestate.co.jp in Japan and many, many more. Your new development will appear on every single website in the ListGlobally network! When you work with us, Realestate.com.kh also co-list your new development on Juwai.com, the leading property website in China for Chinese interested in International Property Investment. Second only to the USA in terms of international buying power, Chinese buyers represent a tremendous new market opportunity for property sellers in Cambodia and Realestate.com.kh capture this traffic for you through our connection with Juwai. Chinese property buyers are also renowned for paying in cash! Juwai.com is the only international property portal hosted on both sides of China’s Great Firewall, and your listing will be translated and optimized to suit the Chinese market.  Also, early bird discounts are still available for the “Emerging Markets Property Show” in Singapore, a property expo organised by Realestate.com.kh and the Property Guru Group, on the 8th and 9th of October 2016. Cambodian developers can exhibit their projects and close deals with international investors. If you are interested in attending or exhibiting your new development project visit or call Realestate.com.kh on 095911466, 069 436756 or 017 436756, or email info@realestate.com.kh.  Harness the online revolution that is spreading across Cambodia and the globe – and get your listings sold to international investors on Realestate.com.kh today, Cambodia’s home of real estate.

Cambodia’s first eco friendly industrial park, part of a larger mixed use development project named Le Urban Eco Park, was conceptualized by Singapore Developer, CIAC Investment Co Ltd. With its first factory fully operational, Le Urban’s Industrial Park has set its sights on expanding their business rapidly, to remain regionally competitive by designing and structuring their facilities to higher worker health and safety standards than Cambodia has ever seen. In addition, their eco concept brings a host of other financial benefits for their factory owners and tenants by being environmentally friendly, energy efficient, and innovative; all in ways that translate into additional cost savings and improved production efficiencies.SEE THE FULL LISTING AND INQUIRE FOR MORE DETAILS TODAYGreen spaces, parks, staff accommodations, and a commitment to recycling resources and leaving a light carbon footprint have also been incorporated into the master plan to truly make this development a clean and sustainable center of commercial and industrial activity; and one that truly sets the standard for the industry in terms of improving the quality of life for workers and area residents. Le Urban Eco Park is the first of its kind in Cambodia; and their industrial park is leading the way as the only facility awarded the Green Mark Gold Certification by the BCA (The Building and Construction Authority) operating under Singapore’s Ministry of National Development. For more progressive and socially minded factories, having this certification provides greater access and leverage with internationally recognized brands and retailers who value suppliers with a more holistic approach to responsible manufacturing practices. For instance, areas are built to have a wider space where employees have a more comfortable area to work, and improved airflow and ventilation. This is a far cry from what most factories offer in Cambodia currently. These built to order facilities come complete with employee accommodation, canteens and rest areas, and span over a total area covering 18 hectares, with units of up to 100,000 square meters available for lease or purchase. It is estimated to be one of the biggest – if not the biggest – eco park project for the coming years. The developers have incorporated an open and more environmentally-friendly approach by using found elements such as bamboo in its design, replacing air-conditioning with large overhead fans, utilizing more natural light with simple yet pragmatic window placements, and setting aside 30 percent of the development area for gardens and green zones. The result is that owners will spend significantly less money on electricity bills - and can allocate more funds for operations rather than utilities. In addition to its design, C.I.A.C. Investment has also made sure to address the ongoing struggle that industries face in Cambodia with electricity consumption and flooding throughout the eco park. Cambodia has been known to have particularly high electricity costs due to the fact that it imports much of its power from neighboring countries. Le Urban Eco Park will have control over its own electricity supply to meet the demands of the owners at no additional cost. So, there is no need to worry about electricity bills skyrocketing or fluctuating. Le Urban Eco Park also has a sophisticated drainage system that is deep and complex enough to control flooding that may otherwise affect the productivity of workers and the complex at large. Another reason to transfer or expand your business to Le Urban Eco Park is that you can provide low cost but high quality accommodations for your employees and managers who would otherwise be renting out basic and uninspiring flats that barely meet their needs. This is an important factor for owners, as not being able to provide employees sufficient standard of living may eventually lead to losing valued employees. Homes and residential units in this development come fully furnished so your managers don't have anything to worry about except how to improve your business. These condo units and flat house are available for sale now as investment properties; but will also be available for rent through the developer’s sale and leaseback program. Aside from that, the project is also expecting to house around 2,000 factory workers on site in quality dormitories. Your staff will also have canteens, parks, retail and recreational areas conveniently located nearby. Le Urban Eco Park Cambodia is located at National Road 3 , Kandaok, Kandal, which is just 15 minutes away from the Phnom Penh International Airport. So, quick surprise visits will be easy for owners who wish to check how operations are running while connecting flights in Phnom Penh. In conclusion - what makes this the perfect investment for factory owners? It is the developer’s unique focus on three key aspects: standard of quality, construction and efficiency. Le Urban Eco Park not only guarantees that you will get the most out of your money, but it also you save money in the long run - which you can use to further expand your business. Le Urban Eco Park will celebrate its official launch Wednesday, June 8, 2016, at Raffles Hotel Le Royal. The event is invitation only and will include HE Cham Prasidh as Special Guest Speaker and the unveiling of their Project Plan. Interested buyers may contact the sales office for tickets requests, provided there is availability. Change your industry for the better, inquire today to find out more!SEE THE FULL LISTING AND INQUIRE FOR MORE DETAILS TODAY

On the 4th June 2016, J&L Property Development will host a THANKS & LAUNCH PARTY to thank all customers who have already booked and to those booking on that day their units at SKY TREE Condominium, their latest project at TOUL SANGKE, KHAN RUSSEY KEO, PHNOM PENH. THANKS & LAUNCH EVENT from J & L Property Development & Sky Tree Condominium! DATE :                SATURDAY, 4th June 2016 PLACE:               PHNOM PENH HOTEL TIME:                  03.00PM TO 05.00PM DRESS CODE:   CASUAL At the event, J & L will be organizing LUCKY DRAWS: For the “ATTENDANCE LUCKY DRAW” there is 30 prizes - each a voucher worth $500 to be given away. And for the “BOOKING LUCKY DRAW” there is a FIRST PRIZE of ONE VOUCHER WORTH $10,000; SECOND PRIZE of ONE VOUCHER WORTH $5,000; THIRD PRIZE of EIGHT VOUCHERS WORTH $2,000 EACH. All of these prizes will be given away to to the Lucky all customers who have booked and to those booking on that day a unit at Sky Tree Condominium already and to those who book at the event on 4th of June. Furthermore, J & L are also have “SPECIAL OFFER PRIZES” for all those attending. So please bring along your friends who are also interested to become a resident at Sky Tree Condo. CHECK OUT SKY TREE APARTMENT NOW!

While rapid growth in Phnom Penh’s condominium market is showing signs of slowing down, one segment ripe for expansion is the serviced apartment market.As Ann Thida, senior associate director of CBRE Cambodia, said in her presentation at the Real Estate Market & Outlook Conference (REMOC) earlier this year, Phnom Penh has the largest share of serviced apartment supply. And according to the CBRE market research, occupancy rates across the entire Phnom Penh serviced apartment market currently stands at 85.8 per cent.The CBRE Cambodia Q4, 2015 report showed than an estimated 35,000 expats apply for permits to work in Cambodia each year. This compares to the supply of Phnom Penh serviced apartments which is currently at 6,494 units. This market-supply imbalance is one of the main reasons price per square meter is relatively high in the capital’s serviced apartment market, compared to comparable markets in Bangkok and Ho Chi Minh.Some monthly rental rates in the hot residential corridors of BKK and Daun Penh reach as high as $3,500 per month.“With Cambodia being classified as a high-growth country, the rising quality of living, and increase in volume of foreign talents and tourists creates demand for quality serviced residences,” said Jeremiah Lee, managing director of Singaporean-based development company, Kingsland Global. Kingsland will soon enter the serviced apartment sector in Phnom Penh with their One18 Residences project, nearing completion, on Street 118.Thida notes that on a broader spectrum across the regional market, Phnom Penh has the lowest rental rates for Grade-A serviced apartments in mainland Southeast Asia, ranging from one- to three-bedrooms.However, Sofia Perez, research and consultancy manager at Knight Frank Cambodia, says, “It doesn’t make sense to look at the serviced apartment sector in isolation, especially here in Cambodia where condominium projects can easily become serviced apartments, and vice versa.” “The biggest distinction between the condominiums and serviced apartment in Cambodia is merely a question of ownership. Both condominiums and serviced apartment units in Cambodia are available for rent, making them indistinguishable to tenants. Larger and more modern serviced apartments also tend to offer similar facilities and services as condominiums,” Perez said. “Therefore, in terms of supply of residential units for rent it will be more than sufficient – especially given the future supply spill-over of condominium units coming online within the next two to three years, which at current are approximately 20,000 units provided that all launched projects are completed on schedule.”Thida added that there is a misconception that the price will solely dictate the success of Phnom Penh serviced apartments as they come online. Perez agrees, saying, “The more important difference is between residential condo and serviced apartment developments that are setting industry standards, versus those that are missing the mark. In this regard, I would say that there is room for good quality residential developments not necessarily only in the high-end category, but across all categories."Within Phnom Penh, Tuol Kork is steadily growing and will soon need a larger supply of quality serviced apartments, suggests Thida; while Daun Penh is showing particularly high occupancy rates.Thida, nevertheless, warned developers that there are still challenges ahead for the serviced apartment market in Phnom Penh, including a lack of adequate parking space and at times poor property management.However, if developers play their cards right, Phnom Penh’s serviced apartment market could play a big role in their pursuit of success.In Thida’s words, “if you put the right property, at the right location and manage it well, the apartment will always have a good chance of success.”

Cooling measures and uncertainty in the Singaporean property market saw investors flock to the inaugural "Cambodian Property Show" at the Marriott hotel in Singapore last weekend. The show was another collaboration between Cambodia's leading property portal website, Realestate.com.kh, and Asia's leading property portal network, the PropertyGuru Group.The opening address from His Excellency Mr Cheth Naren, Ambassador of the Royal Embassy of Cambodia,  highlighted, "Cambodia as a country not only rich in sublime heritage sites (such as Angkor Wat) but also a country rich in natural resources and a country focused on development and improving infrastructure."Two of the leading Cambodian developers, Silvertown Metropolitan and Eastland Development, led the charge by taking the initiative to showcase the Cambodian property sector and their own projects to the 250+ attendees over both Saturday and Sunday.Presenting to a packed room of potential investors wanting to understand the local Cambodian market, included the opening address from His Excellency Cheth Naren; as well as Sam Yang, CEO of Eastland Development (HK) Ltd; Ly Senleap, CEO of FUGI Investment; Alfred Chia, CEO of SingCapital Pte Ltd; Guillaume Massin, Managing Director & Partner of DFDL Cambodia; Vic Boyle, Sales Director of Realestate.com.kh; Simon Vancliff, Investment and development director, ING Holdings; Allen Prak, Legal Advisor, P&A Asia Law Office; and Tom O’Sullivan, Director and CEO of Realestate.com.kh.Sam Yang of Eastland Development said that, “the attendance across both days at the Cambodia property show last weekend, on site sales and the 25+ Singaporeans now booked to travel and visit my development sites in Cambodia, is proof that Singaporean investors now identify Cambodia as a prosperous investment landscape."In an interview with Winston Lee, ‎Regional Head of New Projects at PropertyGuru, and Tom O’Sullivan, Director and CEO of Realestate.com.kh, O’Sullivan noted that, “the collaboration between PropertyGuru and Realestate.com.kh has allowed us to bring local Cambodian projects to the international market, and we hope that the success in sales and interest from this first "Cambodia Property Show" in Singapore encourages more developers to participate in PropertyGuru regional property shows in the future - and more Singaporean investors to seriously consider the Cambodian property market.”A Singaporean investor at the 2 day expo mentioned that, “Cambodia presents an attractive proposition as an investor, and the returns are a lot more attractive than Singapore; but also neighboring countries - for example Thailand.” He went on to say, “the development infrastructure such as improved motor ways, SEZ’s, deep sea ports and a slated rail network will only add to investor confidence in the Cambodian real estate market moving forward.”Early bird discounts are still available for the "Emerging Markets Property Show" in Singapore on the 8th and 9th of October 2016. If you are interested in attending or exhibiting your new development project visit or call Realestate.com.kh on 095911466, 069 436756 or 017 436756, or email info@realestate.com.kh.

Phnom Penh is now home to 2.2 million residents, with an annual growth of 3.9 percent. With this fast growth of population, the central business districts of the capital, namely Chamkarmon, Daun Penh, Tuol Kouk, and Prampir Meakkakra (a.k.a "7 Makara" in uniform name), saw a slight decrease of population due to the fact that many residents relocated to the suburbs or outskirts of the city, even though the suburbs or outskirts saw a steady increase year over year. We are seeing an outward urban expansion of Phnom Penh. First, this outward urban expansion of Phnom Penh is occurring because central business districts have been surging in land and property prices and as a result owners might have enjoyed this opportunity and sold out for a considerably high price. Then, they use the money to buy property in the outskirts where land and houses are much lower, with leftover profited amount probably used to expand businesses or save for other things. Second, since property in the central business districts are most sought after, they can rent or lease to tenants who use it for business purposes. Then these property owners relocate to the outskirts and settle down there, enjoying their rents with a good price. According to the Cambodia Economic Census 2011, on average up to 55 percent of business establishments in the four mentioned districts had rented locations there for their business operations, higher than did in Dangkao district, the less-commercial area, only about 27 percent. Third, this urban expansion of Phnom Penh may be caused by traffic pressure and rat-race in the central business districts pushing some people to relocate to the suburbs, where they can enjoy more peaceful and calm environment. Even though people have been moving out to the suburbs, central business districts are not quiet. In fact, businesses of all types have been there, patronaged by, for example, expats and working local people during the day. That is the reason we've seen people commute in large numbers from the surburbs and outskirts in the morning and leave for home after work in the evening, causing traffic jams only at the so-called 'rush hours'. Lastly, landed borey housing developments scattered throughout many of the outskirts of the capital, with a large take-up rate on pre-completion and completion, proves that the city is sprawling and the population gather pace at the suburbs to ease traffic and enjoy new communities out there. By Mr Hoem Seiha, Director of Research | VTrust Appraisal Co., Ltd

Realestate.com.kh caught up with Dr. Sopon Pornchokchai, Ph.D., D.FIABCI, CRS, MRICS, President of AREA, Bangkok, Thailand, last time he visited the Kingdom, to get his view on the Cambodian property sphere. 1) What is your real estate experience in Thailand, and in Cambodia? Tell us about your career so far.I was involved in real estate since 1982 as a lecturer, planner, researcher and valuer - but I am not a broker nor a developer, so that I can stay academically and professionally neutral. I visited Cambodia in 2000 and have conducted surveys on housing estates in Phnom Penh since 2004. I have came back on many occasions to lecture for the Cambodian Ministry of Finance as well as the Cambodian Valuers and Estate Agents Association (CVEA) since 2010. 2) Why are you so interested in the Cambodian real estate sector? Why is this such an exciting market?Cambodia is a great country where there was once a big empire with a lot of historical heritage and culture to learn. In terms of real estate, Cambodia is one of the most booming countries in the region at this moment.3) What are the current issues in the Cambodian valuation industry?Since I came to teach valuation in Cambodia, I have observed that this profession has been developed very quickly.  This comes from the great efforts of the related government agency, namely, the Ministry of Finance, as well as the leaders of the industry, namely the presidents and board members of the CVEA who have helped establish the industry very strongly with the help of the many individual companies within it.  However, good and reasonable transaction data must be disclosed in order to have reliable sources of information for valuation, transaction and taxation purposes. 4) How can these issues be resolved into the future? In your opinion.The government must enforce the proper tax and land laws. Everyone must pay tax in accordance with their real transacted value. This tax must not be levied too highly though. It could be as low as 0.1 percent. However, in the case of annual property tax, the central government must allow local authorities to tax people themselves. Meanwhile, the budget which came from indirect taxes from the Central Government must be minimized. Then a good system of taxation and a sound property database can be established. 5) Why are valuation standards so important for a sustainable real estate market?Actually, valuation standards are the same everywhere in the world. It is rooted in economic concepts and there are only very slight differences in different standards worldwide. With that in mind, don't let those more advanced countries fool us into assuming that we are substandard. The matter should be more focussed on the indemnity insurance and proper control of the practices of the professionals in our country. 6) How is the Thailand real estate market different to Cambodia?Thailand and Cambodia were very similar some 60 years ago. Cambodia was even considered the “Paris of the East.” Due to civil wars, Cambodia stopped their development. However, today, Cambodia is learning from other neighbouring countries very quickly and will be developed at the same pace with others soon. In real estate, landed shophouses are still popular in Phnom Penh (35% of the stock); whereas, condominiums are the majority of developments in Bangkok (60%). Also, Thailand has a lot more commercial properties due to the fact that people have higher purchasing power.7) How is the Thailand real estate market the same as Cambodia?The similarities between the two countries is the lifestyle and the housing preferences. We are on the same path of development, albeit Thailand sits a bit in advance. In Thailand, we are now in a rather 'dark' age where politics and economy are both slow and problematic. Whereas, Cambodia has a better political atmosphere for the future. Yet, Phnom Penh's real estate markets may reach a peak and cool down somewhat in the near future.

The Asia Pacific region is the place to be in right now if prime office property and rental growth is what you’re searching for. This is what one of the leading global property consultancy firms, Knight Frank, suggests in their Asia Pacific Prime Office Rental Index 2016 report. According to the firm’s thorough research, the Asia Pacific region has seen a combination of significant progress and constant stability in the first quarter of 2016. This is despite some prominent cities experiencing troubles and slowly slipping down the index.   In the Multi-sector Snapshot Q1 2016 report of Cushman & Wakefield, it is stated that in Beijing, “new supply in core markets elevated the overall vacancy rate, while rents remained stable.” While that may be true, Knight Frank’s data provides insight as to a projected decrease in rental returns and rent prices for the rest of the year for the city. Knight Frank’s report continues to explain that “in the first quarter of 2016, robust leasing demand from domestic firms in the finance and technology sectors drove net absorption to outstrip new supply in Beijing, arresting the downward trend in rents.” Also among the cities that saw a downward rental trend are Jakarta, Perth and Kuala Lumpur; where an expected increase in supply has forced property owners to reduce rent prices, further decreasing rental returns for their properties. This, however, did not slow down or do significant damage to the Asia Pacific Prime Office Rental Index. As the average vacancy decreased by 0.2 percentage points, the index grew by 1 percent in the first quarter and accelerated from 0.2 percent in the previous quarter. The highest contributor to this growth is probably Tokyo which showed the highest 3-month percentage increase of 3.4 percent, followed by Seoul at 2.6 percent where both cities show a projected increase for the next 12 months. As Head of Research for Knight Frank Asia Pacific, Nicholas Holt, puts it, “despite our longer term forecasts suggesting we are nearer to the top of the rental cycle in many markets, the next 12 months will see further rental growth in the majority of markets tracked as tight supply and steady demand prevails.” This growth is expected to be seen across 14 out of 19 cities which include Melbourne, Sydney, Shanghai, Hong Kong, Bengaluru, Mumbai, Taipei and Bangkok. "In Southeast Asia, Phnom Penh saw rents remain stable even as a surge in demand drove down the vacancy rate by 10.0 percentage points. With landlords vying to secure tenants as Hongkong Land’s Exchange Square nears completion, this trend is expected to continue." Considering that there are still many factors like government policy changes that may affect this continuous growth, Knight Frank is confident that prime office rental will remain to have stability at the very least. Holt explains, “While the macro-economic story across the region remains uncertain, office markets have tended to see rents hold up fairly well over recent months.” Recent years have showcased both extremes in terms of economic growth and the property market. It’s had its fair share of ups and downs, but as it continues to rise, it will really be an interesting and exciting time for the Asia Pacific region as it learns to nurture and cultivate its potential through proper investments.SEE KNIGHT FRANK CAMBODIA'S PROPERTY NOW

Year after year, the standard living for locals in Cambodia, and in particular Phnom Penh, is increasing. New types of property are changing Cambodian lifestyles; such as new standards of commercial buildings, office towers and co-working spaces, supermarkets, malls, entertainment venues, and modern residential developments. These structures offer proof of an increasingly modern lifestyle being adopted by the people of Cambodia.As this standard of lifestyle rises, increasingly Cambodian property buyers are demonstrating increasing demand for properties of a high standard and high quality. Accordingly, the business competition between property developers and designers in the nation is rising fast.These days we can also see more youth in Cambodia fresh out of school joining the business sector, bringing with them ambition, innovation, and a high level of commitment to their personal and business success.One such business sector being joined by more and more young entrepreneurs is interior design, as the demand for such services grows year on year.Starting a small business in the interior design industry is particularly attractive to the young-business sector in Cambodia because entering the market comes with very little risk, compared to some other professions.A young designer can easily catch a contract for the redesign of a restaurant, entertainment venue or home without a large portfolio of projects under their name and without the need for a lot of start up capital. Assisting them also is the growing popularity of the interior design sector across Cambodia.25 year old, Mavaly Chhoeum, senior staff from Studio INT in Phnom Penh, says that, “most of our interior design and construction projects are venues such as boutique clothes shops, restaurants, spas and many more places like this. Clients usually likes the contemporary concepts, and a try to make their spaces a bit more modern.”She added that, “interior design is highly demanded in the Cambodian market these days and competition is getting tough. It is important to travel to learn new things as much as you can, and always be creative and not a copycat.”“Interior design business and construction is more and more popular in Cambodia” said 29 Heang Venvitou, co-owner of Sathapanak Design and Construction.Interior design projects involve managing the creation of unique, attractive and livable spaces inside buildings. The design might follow trends of local taste or import standards of modern lifestyle through design from other countries around the world. Functionality must always be considered too.A good interior designer will leave their signature on the place that they remodel.Now Sathapanak has a collection of projects in hand, such as: boutique clothing store AXARA, Kobe Restaurant, a Spa, Bank, villa, and condo. For the materials that they use, they generally import from Thailand, Vietnam and some material from local.Interior design is driven by a passion to create something new; and given this aim, young Khmer business people with fresh ideas are perfectly suited to catch the market share in this business sector.Before Cambodia needed to import human resources in interior design from other countries, especially neighboring countries of Vietnam and Thailand – but now young interior designers are demonstrating that this is a local industry of great worth and reliability, and one with many opportunities.Find the best real estate news on Realestate.com.khlook for real estate for rent in Phnom Penh or real estate for sale in Phnom Penh? Check out Realestate.com.kh today.

In a statement published on its website last Thursday, the World Bank will resume lending to Cambodia, marking the first loans since the World Bank froze all new loans in 2011 surrounding controversy over the Boeung Kak Lake dispute.When the Bank announced the freeze in 2011, Country Director Annette Dixon stated: “Until an agreement is reached with the residents of Boeung Kak Lake, we do not expect to provide any new lending to Cambodia.”The bank’s board of directors have agreed to restart lending for four Cambodian infrastructural projects as of last Thursday’s release, "aimed to bring tangible benefits for Cambodians," said Ulrich Zachau, Country Director of the World Bank for Southeast Asia. In statements this week to realestate.com.kh, the World Bank Cambodia stated that “The World Bank Group prepared the Country Engagement Note (CEN) in partnership with Cambodia, and in close dialogue with Cambodia’s development partners...The CEN envisages financing for seven investment projects, totaling about $250 million, from the International Development Association, or IDA, the Bank’s fund for the poorest.” “Over the next year,” said the Bank, “our focus will be to engage closely with all relevant stakeholders to ensure adequate completion of the preparation of planned projects.”  As a build up to recent announcements of restarting loans, the World Bank Group (WBG) had conducted a series of consultations across Cambodia last year, from June 29 to July 13, inviting a range of stakeholders to exchange their opinions with the Bank regarding Cambodia’s development opportunities and potential issues in coming years.While the consultation process included 17 face-to-face meetings with 635 stakeholders, including national and sub-national government officials and representatives, parliamentarians, private sector and civil society representatives, development partners and UN agencies, according to a summary of the Bank’s website, the remaining evictees and community leaders of Boeung Kak were not involved in the process at any point. According to a host of NGO representatives, community leaders and past and present evictees of Boeung Kak Lake, such a new loan would undermine the World Bank director’s statements, the Inspection Panel Report 2011, and the 2014 Consolidated Appropriations Act - US regulation that calls for remedial action from the Bank regarding the Boeung Kak case, supported by the US Treasury, one of the Bank’s largest funding sources. Eang Vuthy, executive director for Equitable Cambodia, who has met with the Bank’s Washington office on several occasions, the latest in early 2015 with World Bank management staff, says the Bank has consistently cited the same excuse for inaction over the Boeung Kak issue: “Nothing can be done without Government cooperation.” In statements this week to realestate.com.kh, the World Bank Cambodia has said that, “Land issues remain an important development agenda for Cambodia. Fair and peaceful resolution of land conflict is critical to Cambodia’s sustained economic and social development. We welcome the substantial progress made to date in the provision of land titles in the Boeung Kak Lake area, where only a few remaining families remain in negotiations with the Municipality of Phnom Penh over size of land titles now.”

Phnom Penh, May 17, 2016: C.I.A.C. Investment is pleased to announce the development of Cambodia’s first ecologically friendly satellite town – ‘Le Urban Eco Park’. Promoting a greener standard of work and living space, this mixed-use development project along National Road 3 is just 15 minutes from Phnom Penh International Airport and about 30 minutes from the city center.  Le Urban Eco Park is founded on the principles of creating a unique and integrated community that incorporates industrial, commercial, and residential areas, whilst pioneering a new approach to environmental responsibility. Inspired by a vision where communities thrive in harmonious balance with the environment, and driven by pragmatism and energy efficient planning, the team at C.I.A.C. has combined sustainable practices with technological innovation to lighten their carbon footprint throughout the entire site.  Le Urban Eco Park boasts buildings and workspaces designed to save energy, manage resources, and mitigate waste. SEE THE FULL LISTING AND INQUIRE FOR MORE DETAILS TODAYResidents and businesses benefit from significantly lower utility costs as a result of the developer’s energy efficient design, which include solar powered water heating systems, advanced lighting controls, keycard entry system, and Singapore standard water treatment system.  Le Urban Eco Park is an integrated community that promotes the wellbeing of its residents with a greener and cleaner living environment.  The use of natural light and found elements, such as bamboo, helps the park to create a cooler, brighter, and more energy efficient environment, while providing a modern look and feel.  In addition, the developer has purposefully reserved over 30% of the green spaces to be used for public parks, recreation, and leisure areas.  The aesthetics of this groundbreaking design concept will benefit everyone living and working in this eco-friendly environment.  “With more than 20 years of experience in real estate and industrial development in Cambodia, we wanted to raise the bar and initiate a unique new concept with energy conservation and long-term sustainability as our priorities. We believe that everyone should have an obligation to protect the environment.  As the developer, we are dedicated to being responsible members of our community.  We are mindful about how we use water resources, what materials we use, how we treat waste, and try to source as much as we can locally to further support the surrounding communities. We also want the staff to work in more comfortable surroundings, which means a clean, green, and healthy environment.  We believe that a good work environment leads to better productivity. At Le Urban Eco Park, sustainability is integrated, intuitive, and innovative,” said Kelvin Chua, Sales & Marketing Director of Le Urban Eco Park.  C.I.A.C. Investment is proud to announce that the Eco Park’s industrial facilities have been awarded the Green Mark Gold Certification by the BCA (The Building and Construction Authority) operating under Singapore’s Ministry of National Development.  These built to order facilities come complete with employee accommodation, canteens, and rest areas, and span over a total area covering 18 hectares, with units of up to 100,000 square meters available for lease or purchase.  The residential apartment condominiums are freehold tenure with no foreign ownership restrictions.  They guarantee returns of 30% over 5 years, provide attractive rental yields and high capital appreciation.  Bank financed home loans are available for interested buyers with 25 year term at a competitive 9% p.a. interest rate.  Construction of the units is nearly complete, with key handover expected to take place before the end of 2016.  The development will also feature a brand new retail experience, the ‘Eco Park Mall’, combining commercial and retail shop houses, food and beverage kiosks, within a mixed-use commercial and residential area. The mall, the first of its kind in the area, is open to the public and will target youth and lifestyle retail businesses, technology, convenience, and fashion accessory shops and bring them to Cambodia’s next generation of young consumers, families, and travellers.  Shop houses are available for sale off-plan and will officially launch June 8th, 2016, with construction slated to be complete by mid 2017. About Le Urban Eco Park: Le Urban Eco Park is conceptualized and developed by C.I.A.C. Investment Limited, a subsidiary of Ocean Sky Investment Pte Ltd., Singapore. With over 20 years’ experience in real estate and industrial development in Cambodia, the company’s green efforts extend beyond operational aspects of development, to having a more sustainable and positive impact on the environment.SEE THE FULL LISTING AND INQUIRE FOR MORE DETAILS TODAY

Eastland Development Ltd. has demonstrated its full commitment to stay in the Cambodian market and wishes to support the economy through developing innovative real estate projects, fit for the local market and international investors alike. “Cambodia is exhibiting the correct economic growth indicators, investment incentives and political stability to allow us to enter this market in a real estate-related faculty,” said Sam Yang, CEO of Eastland, and “we know these same qualities are appealing to many other international property investors.” Eastland Development Co. Ltd’s head office is located in Hong Kong and is one branch of the world renowned Yuetai Group, which has over 8 Billion RMB in total assets. The Yuetai Group was among one of the first trailblazers to enter the Chinese real estate development market in 1994; and in just over two decades, the Yuetai Group can proudly stand behind a development portfolio that covers more than 20 groundbreaking projects, 10,000,000 sq/m of total floor area constructed, spread across 9 provinces of China. In 2003, the Yuetai Group successfully purchased the majority equities of the listed company Guangzhou Donghua Enterprise Co. Ltd. (SH600393). The Yuetai Group has won various honors for their real estate developments, including the Guangdong Top 20 Real Estate Qualification and Credit Enterprise Award, Guangdong Top 100 Private Company Award, the Guangzhou Top 10 Most Competitive Real Estate Developer Award, Guangzhou Trustworthy Brand Developer Award, and a Contract Abiding and Creditable Enterprise Award, to name just a few. The first Eastland Development project to reach completion is “East One International Apartments” project – a condo development which is already 90 percent sold and under construction in Duan Penh, central Phnom Penh. East One is located within minutes of the central business district, the Prime Minister's house, and the majority of the international embassies. It will include a hotel, ample carparks, full services for residents and amenities such as swimming pool, gym and recreational areas. Main construction is now complete, and East One will be fully furnished and ready for handover to buyers by March 2017. Based on the success of East One, Eastland then launched “East Commercial Center (ECC)” along Norodom Boulevard, a key artery road of Phnom Penh, dotted with government ministry offices and embassies. The East Commercial Centre (ECC) will have 38 floors of pure Grade B office space, divided into small and affordable units, with low management fees, and common areas with all necessary business amenities. Eastland selected to build to Grade B office standard because there is a huge shortage of affordable office space in Phnom Penh, and this grade is in very high demand currently. This guarantees market absorption of the project on completion in 2017. The following stage of this development will be the East View Residence project, which will include four 38-floor high residential buildings. This will provide living space for international and local business people working within the ECC tower, meaning they will not have to commute to their place of work. Eastland’s long term partners in all of these projects within Cambodia include the China State Construction Engineering Corporation, China’s largest and most renowned construction company, and Buildwork Asia, a full-service property management company from Japan with over 50 years of experience in the property management industry. Inquire about Eastland projects today on Realestate.com.kh, Cambodia’s home of real estate: EAST ONE INTERNATIONAL APARTMENTS | EAST COMMERCIAL CENTER ECC | EAST VIEW RESIDENCESThese Eastland projects have sold very quickly in the local Cambodian market, Taiwan and China. However, sales will now launch in Singapore and Hong Kong, as the Cambodian property market profile has now developed considerably in these markets. Eastland offer a level of quality and professionalism that the Hong Kong and Singaporean markets expect, with a unique company experience and understanding of what makes a project suitable, saleable and rentable for the local Cambodian market. Cambodia has also evolved into a place of notable political stability, despite a largely unverified international stigma. The country has now had the same Prime Minister for more than a quarter of a century, the longest serving non-royal leader in South East Asia. Out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Most attractive about the Cambodian property market for foreigners is the unique ability to invest totally in US$. There are no restrictions for exchanging US$, making it a highly-free flowing currency, and a global currency showing superior stability to all others. Transferring funds from abroad into Cambodia is very easy and able to be done with very little process. Meanwhile, when you resell your property in Cambodia, you can transfer your money outside of the country very easily, simply by showing your receipt of sale. Appreciation gains for Cambodian real estate are much more attractive than other established markets thanks to the nation’s consistently fast growing economy and GDP. Buyers of property in Phnom Penh can safely expect 6 to 8 percent appreciation. And, especially for Eastland projects, a 7.5 percent 5-year leaseback guarantee is available for all buyers. Meanwhile, investors in Cambodia are guaranteed secure assets, with well-versed freehold foreign ownership laws and highly attractive long term lease policies. Yang also cites China’s “One Belt One Road” initiative – wherein Cambodia is a part of China’s elaborate plan of land and sea connections to the rest of Asia, Africa, and Europe – saying that plans for the Chinese railway in coming years would only aid international investment in Cambodian real estate, and fuel the economy further. “We are extremely confident that the next great international economic boom will happen within the ASEAN countries,” concludes Yang. Don’t miss out your chance to invest in the last real estate frontier, Cambodia, with a developer you can trust, Eastland Development. Inquire about Eastland projects today on Realestate.com.kh, Cambodia’s home of real estate:EAST ONE INTERNATIONAL APARTMENTS | EAST COMMERCIAL CENTER ECC | EAST VIEW RESIDENCESARE YOU BASED IN SINGAPORE?Come and learn more about Eastland's projects at the Marriott Tang Plaza Hotel, Singapore: MAY 28 & 29!

Camhomes would like to congratulate all new buyers who came and booked units at “The D’Seaview Exhibition” at AEON Mall from 7-15 May!Buyers who visited the D’Seaview exhibition on 7 May at @AEON enjoyed the special offer from Camhomes: “Buy one get one free,” for retail and residential unit purchases.During the roadshow at Aeon, new buyers also enjoyed Double Prizes! Including instant gifts of Samsung S7 Smartphones, and the chance to win a Honda Scoopy 2015, TV, oven and fan. Learn more about current promotions!And everybody got a chance to meet Cambodian celebrity: Aok Sokunkanha! Thanks to Camhomes!Even if you missed the show at Aeon Mall last week, it is not too late to secure your dream home in D’Seaview in Sihanoukville!  Inquire today with the friendly Camhomes team in Phnom Penh or Sihanoukville!

Property development in Cambodia has grown exponentially in the past 10 years, alongside the nation’s overall economic growth; with the national GDP rising around 7% every each year. And as the year on year property growth continues in Phnom Penh, the market is also witnessing an evolution in the quality standards of property management. While professional standard property management has been an ongoing concern in the Cambodian market for many years, now landlords, property developers and real estate owners alike do not need to worry about the maintenance and management of their most valuable assets...

Rising again from an economic depression in 2008, Cambodia has resolved to rise above expectations and circumstance. According to Director of Key Real Estate, Sorn Seap, in his presentation at the Real Estate Market and Outlook Conference (REMOC) 2016, this has manifested and converted into promising Phnom Penh land price figures in the years following the economic upset. Though, he suggests we are now in the middle of a golden economic era, Cambodia still has its fair share of things to address for sustainable success in the Phnom Penh land market. In a sector as big as the land market, progress does not come without sacrificing a few details. This is especially true in the Phnom Penh area where progress is most prolific. As foreign investors move in and new developments such as bridges and roads are built, a display of both positive and negative impacts has become apparent, says Sorn.One such impact is the decreased rate of progress in the condominium market at the start of 2016. Asia Real Estate general manager, Po Eavkong, in his interview with the Phnom Penh Post, said that sales decreased 30 per cent because of a high supply of units and high saturation of developments across the city. This has forced developers to reduce unit prices. This was a similar conclusion made by Hoem Seiha, the director of research for VTrust Appraisal, during his presentation at the REMOC2016 conference, too.While other segments reap rewards for their early developments coming online while the market is strong, it is the developers launching now that may experience the effects of the plummeting statistics. Another concern Seap mentions that may affect the Phnom Penh land market is the increase in Phnom Penh land prices generally. Phnom Penh has been one of the most sought after areas to invest in to buy undeveloped land to build properties on. Many foreign investors have been quick to grab the free land in Phnom Penh, and with no shortage of upfront capital to spend. Unfortunately, along with the high demand came higher and higher Phnom Penh land prices. The CVEA, in discussions last December, talked about the Phnom Penh land market prices. The 80+ real estate and valuation companies that make up the Association came to an agreement that Phnom Penh’s average land market price for 2015 was about $3,050 per square meter. However, this is more than double the amount from a report released by VTrust Appraisal in its Journal of Real Estate – Volume 1, Issue 2 – where the average asking price was only at $1,140 per square meter.But this may not affect foreign companies looking to place their money in the local land market. Phnom Penh land prices are still relatively low compared to neighboring countries. The effects will more likely be felt by local developers and investors who are planning to purchase in the area of Phnom Penh. Further, it is felt by the lower class buyers now essentially blocked from the inner city Phnom Penh land market by high costs of entry. Though this may cause difficulties with future projects, this will also mean good news for suburbs of Phnom Penh that have garnered less attention than the four major areas of Phnom Penh dominated by investment thus far, namely Chamkarmorn, Daun Penh, Toul Kork and 7 Makara. Traditionally less-popular areas of the Phnom Penh land market will now receive the necessary support for them to gain investment in their real estate development, suggests Sorn. As development moves further away from the CBD, there will come a time that land prices will lower somewhat in the prime quarters and reach an equilibrium that is both beneficial and stable for the whole of the city; and the Cambodian real estate market generally.The first quarter seems like it has hit a roadblock of sorts, but with a change in strategy and government/private sector policies, a lot can happen in the remaining quarters of 2016.

Welcome to another real estate news recap, from Realestate.com.kh – your leader in property information! Keep up to date with market changes, and be an investor with FORESIGHT!Cambodia and Russia Partnership:In a discussion May 16 with Russian Prime Minister Dmitry Medvedev, Cambodian Prime Minister Hun Sen proposed converting a portion of the $1.5 billion that Cambodia owes to Russia into economic and investment cooperation opportunities. This was on his recent visit to Russia. While there has been no clear statement of how the two countries will go about this issue, Medvedev and Hun Sen continued to sign an agreement that put importance on trade, investments and defense. This, according to the prime ministers, will strengthen and highlight the relationship of the two countries which already spans decades in history.The Rise of Sihanoukville:While Prime Minister Hun Sen discussed investment opportunities and economic alliances in Russia, the Cambodian Minister of Tourism, Thong Khon, and the Minister of Land Management, Urban Planning, and Construction, Chea Sophara, had their own discussions about portioning Sihanoukville into three segments or sections to make it more manageable. The three sections will be characterized as luxury beaches with the private sector, public beaches with the private sector and public entertainment beaches. How this affects zoning and property allocations remains to be seen.The Division of Sihanoukville:The segmentation of Sihanoukville seemed like a fair agreement for everyone. After all, this will allow authorities to easily manage local policies and accesses. Everything seems fair, of course, until someone says it isn’t. This is the case with 14 vendors whose stalls and businesses were demolished in the Ochheuteal beach on April 9. This was after an eviction notice was given to them on March 13. It was reported that there were around 30 stalls that were dismantled to make way for infrastructure and a garden. Some of the vendors had agreed to the $3,500 compensation, but there are still a few who refuse to come to terms with this new development. The evicted vendors had already filed a complaint with the Interior Ministry last Tuesday. As a result of this, Secretary-General Khieu Sopheak has tried communicating with Preah Sihanouk Provincial Governor Yun Min to see if this issue can be resolved peacefully.A First for Pursat Province:Since the discovery of an investment potential for a development in Pursat Province, local developer – Green Trade – is planning to build a mall and flat along National Road 5 at the Lor Lork Sor district. This road bears much value as the connector of Bangkok, Ho Chi Minh and Phnom Penh. According to Okhna Phou Puy, the head of the Cambodian Rice Millers Association and also the director of Green Trade, the development will also build a farmer’s market and compound flats. Construction is expected to start by the year 2017 where they hope it will meet the New Year with a bang.Chroy Changvar Land Titling:With a welcoming embrace of doubt, local groups for land rights had warmed up to the announcement of District Governor Klang Huot that titling will start this week for residents affected by the Overseas Cambodia Investment Corporation (OCIC) development which is valued at around $1.6 million. Klang Huot adds that officials coming from the Ministry of Land Management, Urban Planning and Construction will arrive to also inspect the communes of Prek Tasek and Prek Leap. Residents were advised to ready their land documentations and plot their lands but have yet to receive details about how much the compensation will be. Officials have yet to confirm the final terms for the said titling.EEU Free Trade Zone: In a statement made by Russian Deputy Foreign Minister Igor Morgulov at the Russia-ASEAN Summit held in Sochi, he reveals that a number of countries in Southeast Asia have expressed the will to create a free trade zone agreement with the Eurasian Economic Union so as to establish healthier business ties and investment opportunities amongst them. These countries include Cambodia, Thailand, Indonesia and Singapore. It’s still not clear whether the EEU is open to accepting this type of partnership with the above-mentioned countries. Until this is confirmed, the free trade zone remains to be a possibility and a topic of interest.