Governor Socheatvong confirmed that the Phnom Penh municipality will install 600 security cameras across the capital over the coming 6 months. In addition, more than 69 hectares of gardens and trees will be entrusted to a private company, removing the responsibility of matainance from City Hall. Phnom Penh Governor Socheatvong, through Facebook, pointed out that, in addition, the lights illuminating these public areas (more than 11,000 bulbs) will be switch to LED lights, and responsibility over this task and replacing all lights will likewise be entrusted to the private company.

Cambodia remains a relatively untapped market for many, offering substantial upsides to foreign or local investors looking for green field investment opportunities. Hence, investors with foresight are increasingly identifying Cambodia as the next boom economy in the Southeast Asian property market. MCC International Corporation Ltd, a Chinese state-owned company which ranked 326th in the world’s largest companies in 2015, and 10th in the Engineering News Record’s Global Top 225 Contractors, recently set up a subsidiary in Cambodia, acting as chief and sole constructor, and strategic partner, for J & L Property Development and their latest project in Russey Keo: SkyTree Condominium.CLICK HERE TO INQUIRE TODAY Mr Chen Shaochun, President of MCC International Corporation Ltd, at a recent press conference in Phnom Penh, stated that “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. And these same qualities are appealing to many other Chinese and International property investors.” Mr Scott Wu, CEO of J & L Property Development concurs, mentioning that “our development company’s investment timing is perfect to enter the Cambodian market in 2016. The Government is stable; the economy is showing impressive but sustainable growth across the board; the nation's infrastructure and logistical networks are developing out of sight; and consumer tastes in the city are fast changing to high-end, convenience-driven, high-rise real estate. Those buyers who look to quality projects such as SkyTree Condominium now will realise their investment was extremely smart five years into the future when Cambodia truly comes of age.” For investors seeking stability, Cambodia is now able to meet international expectations. The current head of government — Prime Minister Hun Sen — has been in charge for more than 25 years; and, in fact, Hun Sen now represents the longest standing non-royal leader in Southeast Asia. CEO of Eastland Development, Sam Yang, said that, “Three things are clear to me: Firstly, the next great international economic boom will happen within the ASEAN countries. Secondly, out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Meanwhile, thirdly, in Cambodia investors can still trust in the US dollar – this is unique.” Rami Sharaf, Member of International Advisory Council, APCO Worldwide, and a well-known advocate for the Cambodian market, says that, “the major attraction for foreign investors considering whether they should invest in Cambodia is the ASEAN-member nation’s steady economic growth; phenomenally steady growth: 7.5 per cent average for the last 5 years, year on year. This puts Cambodia as the number 21 worldwide in growth, and number 1 in the region.” Due to its membership in ASEAN, Cambodia has access to the ASEAN Free Trade Area. The ASEAN countries have 625 million people and are a less mature macro-market, providing vastly more opportunity for growth. If ASEAN were a single country, it would have the seventh largest economy in the world, after the US, China, Japan, Germany, France and the United Kingdom.  Additionally, Cambodia has been designated one of the Least Developed Countries (LDC), which gives it preferential access to both the European and North American markets. Why invest in Cambodia? Learn more. Importantly also, Cambodia is midway between China and India. Very recently, India displaced China as the world’s fastest growing economy. Due to its location, Cambodia has excellent geographic access to both of these huge markets. The wealth of the future is practically guaranteed to be determined by who has access to the Chinese and Indian markets. In 2010, the China–ASEAN Free Trade Area (CAFTA) became a reality, giving member nations access to a trading block of 1.7 billion people. ASEAN also has an agreement with Australia and New Zealand that creates yet another free trade area in the other direction (AANZFTA). Additionally, talks are under way between India and ASEAN, which could create a similar trade block. Those seeking pure investment opportunities are offered a unique proposition in the rising market of Phnom Penh; which is exhibiting appreciation growth impossible in the developed markets that property investors have traditionally targeted. According to Knight Frank Cambodia’s Cambodia Real Estate Highlights 1H2015 Report, “land prices in Phnom Penh have increased by as much as 80 percent since 2010, with a forecast of a further 25 percent increase for 2015.” Yang also cites the “One Belt One Road” initiative, saying that plans for a regional Chinese railway in the coming years will only aid Chinese investment in Cambodian real estate. “Thus far,” continues Yang, “the Cambodian real estate market has only attracted relatively small investment pools, in comparison to international and mainland Chinese standards of major investments. Generally, new real estate investments in Cambodia are valued at around five to ten million dollars only. The larger real estate investment funds of 200 to 600 million dollars have not yet come to Cambodia – but they will soon.” With Singaporean architectural design, Sky Tree Condominium rises 32 storeys above Phnom Penh. Uniquely, 40% of the total complex is dedicated to exclusive public facilities such as rooftop gardens, helipad, medical clinic, sky bar, gym, spa, international brand shopping, ample car parking, business facilities, and much more. Furthermore, Sky Tree Condominiums unit size is well suited to a a family who needs extra space - you will have all the room you need to invite extended-family to stay with you in your new condo home. This makes it perfect for Khmer and expat families looking to move into a better standard of living within the inner-city. Don't miss out on your chance to improve your families' quality of life - with monthly payments starting from just $333 per month, and a minimum 10% deposit on signing. CLICK HERE TO INQUIRE TODAY

Over the last few years, the Cambodian real estate market, and in particular Phnom Penh, has seen huge growth.In 2015 alone, overall property prices in Phnom Penh rose to an amazing 26.2 per cent. This is according to a report released by global property consultancy, Knight Frank.It’s an impressive feat, considering that it is higher growth than any other city in the Asia Pacific region. Phnom Penh came in just a little bit behind the success of Tokyo in terms of rise in land values within a greater region. But properties like condominiums, despite sales, remain one of the most misunderstood property types in the Kingdom. This is echoed by a statement made by Chrek Soknim at the first annual Real Estate Market & Outlook Conference 2016 (REMOC2016).Soknim explains that the “condominium isn’t a nascent market anymore in Phnom Penh. It’s been here now for over eight years, yet there are still many things for developers, buyers and key players to carefully learn in order to get quality market insights, and shift their focus to the right paths forward for this real estate subsector.” One such factor that developers should consider is the cultural and generational gap of Cambodian society, especially if you are entering its real estate market from an outside perspective. Cambodians prefer to live with their extended families in residential landed homes.This makes condominiums more of a tough sell in the Cambodian context, Soknim laments. This is a sentiment that In Sitha, Business Development Director at VTrust Appraisal, also shared, stating that, “developers must conduct thorough market surveys before beginning any project in Cambodia if they want to guarantee that there will in fact be sufficient demand for their end real estate product.”What works in the property developer’s home market, will not automatically work in the Cambodian context, it seems. Though Soknim, in his presentation at the REMOC2016, is optimistic as he explains that the younger generation of Cambodians are now more open and understanding of why condos make for better investments than residential homes: "So far, our own people, they don't want to live in condos." He continues to say, "but the young generation, mostly the people who go to foreign countries, they are aware and understand about the benefit of condos."The second factor developers can monitor is the Kingdom’s general economy where banks take collateral that charges 100 per cent of the property value. Home loans for relatively expensive condo units, therefore, fall outside the reach of many Khmer buyers. The same applies to high starting deposit rates of 30 percent and upwards. This is leading to an increasing trend of developers working in close partnership with local and international banks to provide realistic payment plans and loan criteria, more and more tailored to the local market requirements.A third factor to consider is the ratio between local and international interest in these types of properties, especially with luxury condominiums. Soknim explains that what developers should come to terms with is the fact that 80 per cent of the condominium developments are usually purchased by foreign investors and only around 20 per cent are purchased by the locals.This is why buildings can have a thousand units yet at the same time seem empty. It is important to note that based on legislation passed several years ago, the strata title law of 2010, foreigners can own up to 70% of the property as long as that ownership does not extend to the ground floor. This is good news for foreign investors and local businesses who can utilize this to their advantage by buying property in Cambodia, and moving businesses into the US-dollar based economy. As Fitzgerald explains, “given the political instability [in thailand for example], the worry of the [Thai] currency; is meaning a lot of the medium to lower funds and foreign investment funds are actually moving their headquarters from Bangkok to Phnom Penh.”It is also important to note though that there are sometimes instances where units are not purchased with intent of occupancy by pure investors. These are purchases made for appreciation benefits or as means to safeguard finances.While the Kingdom of Cambodia still has a lot of policies to polish and lessons to learn, these indicators, along with the rising wealth of statistics and data brought about by Phnom Penh’s globalization efforts, can serve as an analytical tools for potential investors and developers who wish to delve into the real estate and condominium industry.Want to know more about Cambodia's property market? Search through our news section for more updates!

Despite a troubled recent history, Cambodia has been growing consistently in terms of economic growth over the last 10 years. Today, in 2016, Cambodia is now among the front-runners of the emerging economies of Southeast Asia. By focusing on a new industrial policy of Cambodia, this growth may continue and bring broader benefits to the country. But how will the nation’s economy and industrial footprint diversify in skills and products to allow it to maintain this growth into the coming decade? And as importantly, how will Cambodia offer the lower economic sectors of society genuine opportunities to share the new wealth of the nation?It is said in the Asian Development Outlook for 2016, of the Asian Development Bank (ADB), that Cambodia’s GDP had increased by approximately 7 percent since the year 2013; and has been projected to maintain that rate through 2017.Along with data confirming the growth in the Kingdom’s GDP in its three-part discussion, the Asian Development Outlook 2016 also notes that “Cambodia’s large supply of inexpensive, low-skilled labor has attracted substantial foreign direct investment into the production of garments and footwear for export.”One of the main factors that paved the way for all of this economic growth to happen is through the country’s adaptation of the “Factory Asia” model of economic growth; which allows the deployment of inexpensive labor into the industrial sector so that investors can manufacture products to be used for export. Cambodia was able to obtain a competitive edge through this model and attracted regional manufacturing investors in droves. This was because the comparative price of labor gradually increased in other Asian countries, such as in China, while remained consistently low in Cambodia throughout the early 2000s.The majority of the working class in the country who were once in poverty had found relative success through these manufacturing jobs. This allowed multiple opportunities for them to increase their family’s monthly income and provide for their children’s well-being, such as through education and proper nutrition. A far cry from the suffering average Cambodian had once been through. Though it has been a long-fought struggle, Cambodia seems to be making progress in replicating the “Factory Asia” model and tailor-fitting it for their own culture and economy.As evidence of this, the Kingdom got the largest overall contribution to GDP from the industrial segment growth in 2015; which was 11.7 percent last year. This growth was largely because of a 14.1 percent increase in exporting merchandise; which came in during 2015 at roughly $8.5 billion. An increase of 10.2 percent was also observed in the shipment of footwear such as shoes and sandals, and garments which makes up 70 percent of Cambodia’s total exports.Although factories have helped in providing financial stability and sustainability, this sector has not represented a monopoly on Cambodia’s growth as the country entered the twentieth century. Another contributor to Cambodia’s GDP is the services industry. This industry showed a significant amount of growth; as it ballooned with a 7.1 percent increase last year. The communications sector, along with the transport and finance sectors, grew by around 8 percent. The tourism sector also saw an increase in tourist arrivals that made a 6.1 percent difference to GDP growth in the year 2015. Cambodia’s once predominant and primary sector, agriculture, is also predicted to observe growth by an increase of 1.6 percent next year.But the Asian Development Outlook 2016 warns that “while the economy shows signs of becoming more diversified within and across sectors, including garments and light manufacturing, and in export destinations, the base for growth remains narrow.” So, while Cambodia has shown much progress over the years, the nation is still in need of diversity in its economy as it becomes even more competitive with countries like Myanmar and Vietnam, frontrunners in manufacturing low-cost garments.To support this diversification process, the government offers a new industrial policy of Cambodia that aims to upgrade its industries from providing labor intensive, low-cost manufacturing to a more value-centered production system; so as to encourage the expansion of medium and small-sized entities or corporations by way of an industrial development policy that will enforce stronger regulations, better business dealings and modernization. With an inexpensive, young and fast-learning population, tech industries also seem to offer vast opportunities in the Kingdom. These industries also offer a superior quality of life, and potential for career development, than base-line industrial jobs. With this agenda taken into consideration, ADB says that the industry segment is projected to grow in the following year by around 9.5 per cent. While Cambodia has seen some triumphs in recent years, it still has many more battles to win. The world is watching while the next tiger of ASEAN grows up.

With the Cambodia economy growing more and more each year, eyes from the international community are being pulled towards the Cambodian real estate market - and for good reasons. One of these reasons is recent legislation that allow foreign-ownership of strata titled office space. But what exactly is a strata title?  Strata refers to apartments being on multiple or different levels of the same building complex. Therefore, the strata title is designed and specifically drafted for apartment blocks or buildings with multiple levels - and co-ownership rights within these buildings. This concept originated in New South Wales, Australia, but later gained popularity in Cambodia after the “Law on Foreign Ownership” was introduced back in May of 2010. This law paved the way for economic growth as it gave investors an ability to penetrate the local market and, likewise, diversify it. Up until a few years ago, there were difficulties doing that for non-Cambodian nationals. Since the legislation, the Phnom Penh skyline has grown beyond recognition as property developers have identified the opportunity to bring foreign investors into the Cambodian market via strata title. Before the advent of strata titles, property owners were now allowed to divide their buildings into multiple private properties which they could sell separately with freehold ownership rights (hard titles). But now, post 2010, foreign investors are free to own up to 70% of these properties as co-owners, provided that they only buy private spaces above the first floor. Slowly, these titles expanded beyond just residential buildings and begun to cater to the international demand for office space in Phnom Penh - which is fast becoming an ASEAN business hub. For investors foreseeing a potential oversupply of condo in the capital city, buying office space seems a less risky alternative given Cambodia’s exponential economic growth. As James Padden, Commercial Agency Manager of CBRE Cambodia, puts it when he spoke at the first annual Real Estate Market & Outlook Conference 2016 (REMOC2016), “If we look at the Phnom Penh market, I think it's important to consider the context of what causes demand for office space. So, essentially, it's driven by commerce, trade and economic growth. Without trade and business growth, there's no need for office space.” He continues to say that Phnom Penh is particularly strong in that regard. Padden offers that, “From 2010 to 2015, we saw imports grow from 6.7 billion dollars to 11.5 billion - which is a 70 percent increase. Meanwhile, exports grew from 6 to 8 billion dollars which is a 33 percent increase.” Padden also mentioned that in terms of GDP, there was an increase by 7 percent each year and the GDP per capita appreciated from $879 in 2011 to $1,325 in 2016, an incredible 50% increase in a span of only five years. As proof of a growing economy and a successful real estate industry, there are now a total of 689 condominium units announced during the fourth quarter of 2015 alone. This brings in the number of off-plan condominiums launched over the course of 2015 to a total of 7,014. Yet - on top of this - as of 2015, there are also now 5 strata-title office developments in Phnom Penh up for sale to local and international commercial property investors. As the trend grows and furthers into its development, strata-titled office spaces will account for about 25% of total office stock by 2020 - according to CBRE’s research. A key benefit of the increase in strata titled office space and residential real estate in Cambodia is the practicality of the new legislation and the amount of time it will save for buyers and sellers transferring the actual titles to new owners upon the completion of new development projects. The process is relatively simple and, at the completion of this process, end buyers have full freehold property ownership rights over that space. Strata titled office space will also allow business entities to conveniently own the properties that are part of their business expansion infrastructure in the Kingdom, which offers superior control and legal protection for their business’ assets here. It is legislation like this that offers international firms the confidence they need to take their first steps into the Khmer market. As more and more strata-titled properties enter the Cambodian real estate market, both strata titled office space and residential units, international investors can see a smooth, safe and cost efficient  vehicle available to venture and expand into Cambodian territory.

Realestate.com.kh is proud to be announced as Official Media Partner for the 2016 South East Asia Property Awards. Returning for a successful sixth year, the South East Asia Property Awards 2016 is the biggest, most prestigious and most recognised industry awards in the entire region.  Organised by PropertyGuru, Asia’s leading online property portal group, the programme serves as the grand finale for the ASEAN strand of the 11-year-old Asia Property Awards series, with the top and emerging names in real estate gathering on 23-24 November at the prestigious Shangri-La Hotel Singapore. Last year’s biggest winners included Far East Organization and UOL Group from Singapore, and Front Concept group from Malaysia, while UOL’s deputy group CEO Liam Wee Sin was awarded the coveted Singapore’s Real Estate Personality of the Year accolade. The event is also a tremendous networking opportunity for real estate professionals who would like to meet the industry leaders who are redefining the property landscape. Don’t miss this! As stated by Director of Realestate.com.kh, Mr Tom O'Sullivan, about the media partnership: "In early 2016, Realestate.com.kh created a strategic relationship with the PropertyGuru Group that allows Realestate.com.kh and our clients to leverage off the powerful network of property portals, events and related media in the ASEAN region; including PG Singapore, PG Malaysia, DD Thailand and Indonesia. The South East Asia Property Awards brings together leaders from across the region, including those from our market: the extremely fast-developing Cambodia. Partnering with the SEA Property Awards allows Realestate.com.kh and our clients to bring Cambodian property to the world stage, and of course to network and learn from the region's industry leaders."WANT TO FIND OUT MORE?

China’s wealthy are increasingly showing a big appetite for investing in real estate out of their home country, and while traditional international markets such as Australia and the US remain popular, Cambodia is beginning to attract the attention of China’s elite.More than 65 per cent of China’s high-net-worth individuals spent upwards of $462,000 on overseas property and real estate investments in 2015, according to that year’s Knight Frank Wealth Report.China’s hunger for owning international property has gathered pace within the last few years. According to Knight Frank, Chinese outbound real estate investment totalled $5 billion in 2010, increasing to $52 billion in 2014. By 2020, the firm predicts this figure will reach $220 billion.The reasons for this international real estate investment seem relatively simple.According to juwai.com, China’s online international property portal which introduces mainland Chinese buyers to international real estate opportunities; a mixture of investment opportunities, emigration, education and, to a lesser extent, lifestyle are the main reasons for China’s obsession with owning overseas property.Speaking at Juwai’s Global Developer Summit in Beijing in April, company chief executive Charles Pittar said the ability to own freehold property remained an attractive proposition for Chinese investors.“The value of international property is increasingly preferred over domestic property, as appreciation rates plateau in most major Chinese cities,” he said.“There is a perception among Chinese investors that overseas property investment is more stable than the Chinese market.”With Chinese outward tourism remaining the largest and fastest-growing tourism market in the world, travel continues to open China’s eyes to real estate investment outside their borders.“By 2020, it is predicted that 234 million outbound Chinese travellers will splurge $422 billion abroad,” Pittar said.As tourism flows, business connections and incentives for Chinese investors could flow through to Cambodia.While Cambodia may not yet be a popular emigration or education destination for most wealthy Chinese, those seeking pure investment opportunities are offered a unique proposition in the rising market of Phnom Penh – which is exhibiting appreciation growth impossible in the developed markets that Chinese investors have traditionally targeted.Chinese state-owned MCC International Incorporation recently set up a subsidiary in Cambodia.Chen Shaochun, president of MCC International Incorporation, spoke of Cambodia’s appeal to Chinese investors at a recent press conference in Phnom Penh.“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,” he said.“And these same qualities are appealing to many other Chinese property investors.”CEO of Eastland Development, Sam Yang, said Chinese investors could rely on the US dollar in Cambodia, making it an attractive destination to invest capital.Yang also cited 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 Chinese investment in Cambodian real estate.Interested in learning more about Chinese investment? Check out our article: Chinese investors dominate the real estate market in SihanoukvilleLooking for real estate for rent in Cambodia or real estate for sale in Cambodia?

CBRE's Phnom Penh Q1 2016 MarketView has just been released! Chris Hobden, Manager of Research, Consulting & Valuation Services at CBRE Cambodia said that, “The Phnom Penh property market witnessed a significant increase in development activity over the first quarter, with investment in construction and residential project launches up 267% and 61.6%, year-on-year, respectively. Land prices appreciated by an average of 4.8% over the first quarter across Phnom Penh’s six principal districts. Notably, prices in Chroy Chang Va district rose by 8.8%, bringing its total land price appreciation to 208% since Q1 2010, driven by a combination of infrastructure improvements, local development activity and the continued expansion of the city’s core.”In summary:Land prices across principal districts appreciated by an average of 4.8% over the first quarter, with land prices in Chroy Chang Va and 7 Makara districts rising by 8.8% and 8.3% Q-o-Q, respectively.A total of 4,158 condominium units, across 8 projects, announced over Q1, representing a Y-o-Y increase of 61.6%.Average sales and rental prices broadly appreciated over Q1, with the exception of shopping mall rents, due to challenges faced by ageing retail stock in the context of upcoming supply.Limited new supply came on-stream over Q1, with 3 office buildings collectively adding 17,260 sq.m of leasable space to modern Phnom Penh stock.US$1.65bn invested in construction over Q1, compared to US$448m in Q1 2015, representing a significant Y-o-Y increase of 267%.Find out more: Download the full report!

HLH GROUP EXPANDS AGRICULTURAL FOOTPRINT IN CAMBODIA BY UPGRADING ITS EXISTING 10,000-HECTARE FARM INTO A FULL-SCALE AGRICULTURE PARK: Camfarm.SGX Mainboard Listed HLH Group, had successfully upgraded its existing 10,000-hectare farm in Aoral District, Kampong Speu Province in Cambodia to become a full-scale Agriculture Park, which covers the cultivation and processing of cassava (Tapioca) into cassava chips or cassava starch. It will also have an area to attract international investors with interest in husbandry and livestock assets to set up farms in the new park. The new cassava starch production factory at the site was completed last week. Known as Camfarm.FIND OUT MORE - contact HLH Group now!Meanwhile, the company’s first starch production line which was completed in the first week of April 2016 will produce 120 tons of cassava starch daily starting from this week. Production levels are expected to increase to an estimated 150 tons per day and will hit about 35,000 tons of cassava starch annually by the end of this year. Most of these cassava starch will be exported. The current market value of cassava starch is around USD360/ton.“With the new 10,000-hectare agriculture park in place, we can scale up our production significantly through the supply of cassava products. We are also looking forward to attract and partner with global investors with a robust appetite in the agricultural sector. With the right infrastructure such as the well-equipped deep-water sea port of Sihanoukville for exports, agricultural equipment and production facilities, we can enhance the yield of our plantations as well as raise both production quantity and quality,” said Dato Dr Johnny Ong, HLH Group’s Deputy Chairman and CEO.“HLH Agriculture (Cambodia) Co. Ltd is also planning to initiate programmes for contract farming and provincial collection center to raise the competitiveness of Cambodian farmers and at the same time provide new employment opportunities in the country by enabling more Cambodians to become self-employed in the fast-growing agriculture industry,” he added. By end of this year, the Agriculture Division expects to export 50,000 tons of both cassava starch and cassava chips. The ultimate target is to export 1 million tons of both products in the near future.Meanwhile, the company has also unveiled a new plan for an integrated Agriculture Food Processing Park to be named CAMFARM on a 400-hectare plot of farm land acquired in 2008. It is expected to be completed in year 2017. The company will be actively sourcing for strategic international investors in food processing industry to set up their assets in this park. THE FIRST AND ONLY AGRICULTURE PROCESSING HUB IN CAMBODIA, BROUGHT TO YOU BY HLH GROUP. We are offering to any investors an opportunity to join us and explore this project of 400-hectare plot of farm land.FIND OUT MORE - contact HLH Group now!AGRICULTURE PROCESSING HUB WITH THE SINGARPOREAN STANDARD:Can fruit processing factory. Can food processing factory.Dried fruit processing factory.Vegetable processing factory.Bio-gas Industry.Water treatment plant.Rice industry.Restaurant, food outlet & Entertainment places…etc.Animal farm, such as: Pig farm, Cow farm, Goat farm, Chicken farm, duck farm..etc.Manufacture of food processing industry.Fruit planting, such as: Banana, Mango, Coconut, Grass for cow feed, Sesame, Maringa plant, Vegetable etc.Bee Keeping.Fish Farming. Fruits and Vegetables Export.Fruit juice-Jam-Jelly Production.Groundnut Processing.Cashew-nut Processing.Potato Chips Production.Agro-Farming Blogging.Hotel (Farm Resort stay).Shop house.New expressway.Bank etc…Going forward, HLH plans to add another two production lines in 2017 which will raise its daily starch production capacity to 600 tons. The cost of the new production facilities is estimated at USD10 million and will be funded by financial institutions and potential joint investors.FIND OUT MORE - contact HLH Group now!

The process of choosing home loans in Cambodia and a lender can be quite complicated, but if you tackle it in stages you can avoid disappointment, frustration and wasted time. Realestate.com.kh is here to help.How do you choose a reputable lender in Cambodia? With more than 35 commercial banks operating in the Kingdom, it can be overwhelming to make the right decision and ensure that your lender is conducting its business in a legal and ethical manner.The majority of home loans in Cambodia are provided on flexible interest rates, which means that if your bank wants or needs to change your interest rate during the loan term, then they can. With that in mind, always choose a bank with a trusted reputation and a solid financial position.If you ask a question to your bank lender and they can’t answer you properly, your best bet is to keep looking. Find a bank who has a team of experienced lenders, not “jacks of all trades”.Most commercial banks are generally similar when it comes to upfront costs. Typically, you are expected to pay a loan approval fee (or processing fee), legal fees for the preparation and registration of your mortgage documents at the land titles office, a valuation fee and an insurance fee for basic fire cover over your property.The main point to look out for is hidden costs or clauses around upfront fees and paying off your loan early either partially or in full.Most banks will have a three percent early repayment fee if you make any extra payments or want to pay off your loan within three years, though some banks’ fees are higher and longer.Ask detailed questions regarding the mortgage’s terms and conditions: Ask about the application processing fee and if it is paid upfront or annually; how long it takes to obtain approval for the loan request; and how monthly repayments are to be made - is it by cash or automatically debited from the borrower’s account?Another loan feature worth considering is portability. This is necessary to learn about if you intend to increase your property portfolio by purchasing an additional property or selling your current home to buy another. This may involve a fee but it will be considerably less than the cost of establishing a new loan.Some banks can be inflexible even if you have sold your house and need to pay off your loan to release the title for property transfer ownership. Be careful of this one as it could mean a show stopper for your sale.Some banks insist that you provide at least three months’ notice if you wish to pay off your loan early and that this is often used as a tactic to reduce the instance of people refinancing to another bank. If this is the case, you need to know before you accept the loan.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Looking for reputable lenders in Cambodia? Let us help!Article by:

Cambodia’s most outstanding mixed-use development is soon to overlook the Mekong River with three 55-storey buildings, set for completion in 2020. The two towers of The Peak will be reserved for residential uses, while the third commercial tower will be the home of 20-storeys of the world-renown Shangri-La hotel, with 35-storeys of Grade A office space below it.With the upcoming ASEAN Economic Community, increasingly international corporations are entering the Cambodian market, and high grade office space and luxury residential units are rising in demand every month. Over 50% of registered companies in the Kingdom are majority foreign owned, and this trend is set to continue as Cambodia rises as an interconnected manufacturing, resource, agriculture and logistics hub for regional firms looking to expand, outsource or diversify. With an additional 5-storeys of prime retail space, The Peak also caters to Cambodia’s rising middle class, who are proving to have a taste for shopping and international brands.The developer is the renowned Oxley-WorldBridge Cambodia, a joint venture between Singaporean-based Oxley Holdings and WorldBridge Land Cambodia, which first launched in Cambodia in 2013. Oxley-Worldbridge’s The Peak is the second major residential development undertaken by the conglomerate.The Bridge, the joint venture’s first Phnom Penh project, marked a turning point for the entire Cambodian’s property sphere. With the release of The Bridge, the world took notice of the Cambodian market, the huge project bringing a new standard of construction and architectural flare to the capital.The Bridge, coming online in 2018, has now sold 96% of the projects 762 apartment units and 71% of 963 SoHo units. The Peak is perfectly located minutes walk from Phnom Penh’s largest AEON Mall, Nagaworld 1 & upcoming Nagaworld 2, and just 2 minutes drive to Business Convention Centres on Diamond Island. And of course, the 5-Star Shangri-La Hotel will be right next door.Don’t miss your chance to own a slice of Cambodian history; get in touch with The Peak’s friendly team today!

Within the confines of Cambodia, there lies a paradise known as Sihanoukville, the nation’s premier beach town. For years, this gem was overshadowed by the interest of tourists who only visited Cambodia for a few days to experience the temple complex and Angkor Wat in Siem Reap. However, with an eye for great investment opportunities, the developer Camhomes – part of the Singaporean Corporation, the HLH group – looked in the opposite direction toward the majestic views of the Sihanoukville coastline. This prompted the conceptualization and the progressing construction of D’Seaview, one of Cambodia’s grandest property investments. FIND OUT MORE ABOUT THIS OPPORTUNITY NOW!Standing tall with a 28-storey foundation, this project offers buyers a flexible finance scheme for purchase. With interest rates starting from only 9% per annum for up to 25 years, Maybank gives you the chance to own not only your own modern beach condo in Sihanoukville, but a chance to own part of Cambodia’s beautiful skyline. Not only that, but Maybank will allow you to loan up to 70% of the property purchasing price for local Cambodian and up to 50% for international buyers.  Even with its state of the art facilities and Singaporean-inspired design, Camhomes – through its unique partnership with Maybank – still allows third party guarantees and accepts soft title deeds with no loan approval fee, no renewal fee and no amendment fee.   A well-equipped gym and lap pool will be available for those who need their daily health fix; and D’Seaview will also provide 24-hour manned security for individuals and families alike. A 24-hour car park for residents and guests, with ample space, is ideal for those who planned to extend their hours into the morning. FIND OUT MORE ABOUT THIS OPPORTUNITY NOW! Peaceful gardens also await investors as they make their way through to their units, ensuring fresh and breathable air. Walk paths along the waterfront property will also provide them ease of access and an enjoyable sightseeing experience as they look upon the great architectural design of the buildings surrounding them. The modern and eco-friendly aesthetic and function of D’Seaview definitely takes into consideration the livability of this project - for each and every beach condo. That’s why it also has a playground, so that the whole family can enjoy. And when you don’t feel like going to the beach, you know that you always have the option of staying in the confines of Sihanoukville’s first ever mixed use development where it will always feel like home. Don’t worry though, the beach and views are not the only things that make this piece of Sihanoukville worthwhile. It also boasts of a convenient and strategic location where international and traditional Khmer dining is available just a few minutes away from your unit for when you decide that you’re just too tired to cook. And if some partying and retail therapy is your idea of fun, bars, discos, night markets, spas and shopping plazas are just a few minutes away.  So, you see, there’s no shortage of things to do in Cambodia, especially in the town of Sihanoukville. Whether you want to get a tan or immerse yourself in local culture, D’Seaview by Camhomes will get you that perfect balance. If you’re retiring, moving to work in Sihanoukville or just looking to start a new phase of your life, why not consider this as an investment property for a beautiful future that just so happens to come with a beautiful view as well?FIND OUT MORE ABOUT THIS OPPORTUNITY NOW!

Many westerners who move to Phnom Penh for work, long-term holidays or retirement often arrive with expectations that don’t add up to reality of the 2016 Cambodian real estate market situation.For example, many have dreams of living in an opulent french-style villa at a rental or sale price that is just a fraction of what they might expect for a similar property in their home market.READ OUR ULTIMATE EXPATS GUIDE TO CAMBODIA Others think that their money will go a long way in Cambodia in terms of budget rentals, even in the big city’s hottest corridors. However, Phnom Penh, and in particular the expat-friendly suburbs, is a beast that is changing beyond the recognition of expats that settled here for work, pleasure or retirement 5-10 years ago. Some commonly-held expectations are becoming unrealistic in the 2016 Cambodian real estate market, and especially in Phnom Penh. In fact, the city is no longer full of the inexpensive, charming villas that many expats blithely assume will be readily available. So too is it beginning to see a shortage of affordable options for renters in central locations, as demand rises and landlord understand the underlying value of their locales. Desmond Yap, general manager of Yong Yap Properties in Phnom Penh, notes that this is only a natural result of supply and demand trends in the capital. “As wealthy property developers continue to find prime land for their developments in the central city districts, villas are getting snapped up due to the size of their surrounding land. The villas are then knocked down and the land is developed in a condo complex, hotel or commercial venture. Over time, this has limited the supply of villas and therefore prices have increased dramatically,” says Yap. The reality is that Phnom Penh has grown dramatically in the past ten years. Like any high growth city, this has caused two things to happen: 1) Housing prices have gone up dramatically and 2) no matter how much gets built, it is rapidly filled by buyers and renters, leaving a scarcity of supply for the most desirable kinds of developments. Yap also notes that as the standard of living rises in Phnom Penh, the cost of living also increases: “You can give example of how workers salary in Phnom Penh is rising – it’s a lot tougher now to find a waiter working for $100/month compared to 5 years ago.” Many expats coming to Cambodia are misinformed as to the true affordability of property, suggests Yap. Yap gives the example of The Lonely Planet guide. This highly popular travelers resource says that expats can get small flats for around $200 with internet and wifi in central Phnom Penh, “yet they need to take this into context; are they referring to inner city Phnom Penh? How long ago did they write it? etc. We actually have had people that come into the Yong Yap office quoting lonely planet and how we should be able to find them a western place for $200 inclusive of x,y,z… If they expect western qualities in their new apartment, this proves a very hard ask!” More realistically, western style luxury apartments with all the amenities, and also serviced apartments — such as a pool, gym and security — can be had for $500-$3000 per month. Check out properties available NOW! Alternately, more authentically Cambodian digs can be rented for around $300 per month. As the city has grown, the city has done what so many cities do: Converted housing on busy streets to businesses and demolished low density housing to replace it with high-rise apartments or commercial skyscrapers. When high-rise buildings go up, the villas next door to them are negatively impacted by the noise and dust of construction. They often never really recover. For the villas that remain, the demand is not only from residential property seekers but also F&B operators. This means home buyers and renters are having to compete with commercial enterprises who place a high value on the architecture, parking space and also the prime locations. The reality is that, at this point, there is a fairly small pool of highly desirable, Western-style homes in good locations. And unsurprisingly, these homes are rarely up for grabs. Either the owner knows they have a sweet deal and is not going anywhere any time soon, or these prime locations get sold to people who have connections of some sort, such friends of the family or coworkers. There are a lucky few expats who do enjoy this situation because they locked low rental prices some time ago with a 5-10 year lease. But for new signees, prices remain consistently high. For those new comers looking for a villa for rent in BKK1 - you might be on a waiting list... Some areas popular with expats include BKK1, Tonle Bassac and Southern Daun Penh. They do have a limited supply of villas, but not as many as they once had. Toul Kork remains a relatively good choice for an expat seeking a villa, however. But this may mean a longer commute for workers. Tuol Kork is a neighborhood about 30 minutes out of the center of the city that is increasingly attracting ex-pats. As with other large cities, commuting to a suburb outside the densely developed downtown area is a good way to find places renting for much less money. Learn more about expat rentals in Phnom Penh! Additionally, it is important to keep in mind that Cambodia is not a Western country. Although the West has had a substantial influence upon the architecture of developed cities the world over, like any Eastern country, Cambodia has its own history and culture, including its own architectural tastes. Even for homes that are built in a largely Western style, it is common for some details to just seem odd to the Western eye. The colors may seem not quite right. They may seem bolder than you expected. The trim may also seem in some way unusual. The finishing quality too may differ from western expectations. Yap notes that “western products/services generally will cost more as many products need to be imported. Quality window frames, light fittings etc. all need to be imported, and this naturally raises expected costs for renters and buyers.” Therefore, advice for those moving to Phnom Penh is that you will be well served by arriving with more realistic expectations concerning the style, price and availability of housing in the city where you plan to live out your expat experience. You may need to go with an apartment instead of a villa. You may need to have a longer commute. You may need to adjust your tastes. But after all, the ability to adapt is a key part of the expat experience, in any country, and can come with unexpected pleasures... READ OUR ULTIMATE EXPATS GUIDE TO CAMBODIA

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! The Peak by Oxley:May 3 was a special day for Singapore-listed property group Oxley Holdings and its Cambodian partner Worldbridge Land as it marked the first day of construction for The Peak which follows the success of its predecessing project, The Bridge. Among the people who attended the groundbreaking were Singapore’s ambassador to Cambodia Kevin Cheok and Cambodia’s senior minister for land management, urban planning and construction, Chea Sophara. Vice-chairman of Kerry Group George Yeo were also in attendance.Young Game Changers:Turnkey founder, Chim Sothea and architecture student Ly Suyi are making waves as they slowly make their mark in the Cambodian Architecture industry. Sothea hope to change the system by providing specialization in the field - as opposed to the old business practice of combining design and construction in one firm. Suyi, on the other hand has won four awards in drawing competitions; where she attributes the success to her grandmother teaching her how to draw so that she’d stop crying. The future of Cambodia’s design and construction field is definitely something to look forward to with the addition of young geniuses like these.NagaWorld Destruction:NagaWorld in Phnom Penh has had its fair share of controversies, including a suspension due to a question of legality. So, it’s nothing new when Minister Chea Sophara had ordered the destruction of an awning at NagaWorld this week which exceeded three meters into public property. The ministry hopes this would set an example for other developers who are planning to do the same. They are also hoping that this would instill respect for public land. So, if you’re planning to construct something beyond your boundary, you might just follow suit with NagaWorld and lose more than you bargained for.Cambodia’s Patent Law:Cambodia’s Ministry of Industry and Handicraft, together with the Japan Patent Office (JPO), signed an agreement yesterday that would streamline facilitating patent grants as a means of getting protection in Cambodia. The agreement aims to mutually strengthen and protect trademarks in intellectual property, industrial designs, unity models and patents to further expand both Japan’s and Cambodia’s economy. This is good news for the design and even the construction industry.Construction Investment Increase:The first quarter of the Kingdom’s investment in the construction sector in 2016 saw an increase of 267 per cent to $1.65 billion dollars from last year’s $448 million. This is due largely to Cambodia’s convenient investment laws. As evidence, deputy director general of the Ministry of Land Management, Lao Tip Seyha has confirmed that there are 473  construction projects that currently take up 3.7 million square meters of land.Tourism is Booming:Kong Sopheareak, director of the statistics and information department at the Ministry of Tourism, confirmed that along with the rise in investment in the first quarter of 2016, the tourist count had also increased by 2.6 per cent which totalled over 1.3 million. This means better opportunities for investments either from the tourists themselves or people who wish to take advantage of and create a business around the massive quantity of tourists.Valuers Congress:The 19th ASEAN Valuers Association Congress will be held in Cambodia on May 4 to May 7, 2016. This will be the first time the Kingdom will host the event and it hopes that with the visit of international movers and shakers who are part of AVA, it will conclude with an alignment to its theme which is One ASEAN, One Valuation Standard. Besides coming to terms with a single standard, this is also a great opportunity to showcase the wonderful investment opportunities Cambodia can share to the world.

A recent news release from the Cambodian Ministry of Tourism has announced that the Cambodian Government is currently preparing to issue three-year multiple visas, exclusively to Chinese and Korean tourists. Last year, 700,000 Chinese and 400,000 Korean tourists visited Cambodia last year, putting them in the top 10 foreign visitors. The initiative seeks to bolster the tourism sector, according to the report, one of Cambodia's keys to continued economic growth. Such a flexible and long term multiple issue Cambodia visa should encourage repeat travel and bring more tourists from China and Korea to Cambodia. But it may also bolster Chinese and Korean investment in the Cambodian real estate market... Travel is also opening Chinese eyes to real estate investment opportunities outside their borders; and Chinese outward tourism is the largest and fastest-growing tourism market in the world. Despite only 4 percent of Chinese nationals holding a passport, that 4 percent spend $200 billion overseas yearly. In 10 years, 12 percent of China’s population will hold passports, suggests China’s National Tourism Administration. “By 2020, it is predicted that 234 million outbound Chinese travellers will splurge $422 billion abroad,” says Charles Pitar, CEO of Juwai.com, China's leading international property portal website which introduces mainland Chinese buyers to international real estate investment opportunities. Stay tunes to Realestate.com.kh NEWS for more on this as it unfolds...

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) was held this April at the Phnom Penh Hotel, with a host of the local and regional real estate industry leaders giving their outlooks on the state of the Cambodian real estate market.Realestate.com.kh caught up with Hoem Seiha, Director of Research, VTrust Appraisal Co., Ltd at REMOC2016 to get his 2 cents on the state of the current and future Cambodian property market prospects and, ultimately, Cambodian Property Market: The Big Picture!What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? At REMOC-2016 to be held on 1 April, I’m going to present to the audience about the macro perspectives on real estate industry: Cambodian Property Market: The Big Picture. Developers, policy makers and related key stakeholders need sound knowledge and in-depth insights into real estate sector at macro level so that they can together work to develop and, if any, curb with challenges in the sector. Construction and real estate sector has recently grown its importance to overall economy by contributing to creation of tens of thousands of jobs, pushing demand on mortgages to rise by 19 percent in 2014, and attracting US$ billions of real estate related FDIs that have spillover impacts on many other economic sectors. With my future outlook for this sector, even though real estate market has grown so quickly that it might pose potential risks and growth volatility, I foresee this sector will soon create a new economic engine alongside with the country’s key leading sectors such as garment, tourism and agriculture.

The AVA congress is now official underway!This marks the official Opening of the 19th ASEAN Valuers Association (AVA) Congress at the Sofitel Hotel Phnom Penh, Cambodia, May 5, 2016 - and the first ever congress to be held in the Kingdom of Cambodia. Realestate.com.kh is extremely proud to sponsor this year's event, and commends the huge efforts from the CVEA to create such a fantastic and well-attended event - which will have lasting benefits for the real estate and valuation industry in Cambodia. Well Done! This morning's opening ceremony included Opening Remarks By H.E. Dr. Aun Pornmoniroth, Senior Minister Minister of Economy and Finance. "Mr. Kim Heang, AVA President; Mrs. Dewi Sri Umi, AVA Secretary General; All AVA chief delegates, distinguished guests, Excellencies, Ladies and Gentlemen, Good Morning! On behalf of the Royal Government of Cambodia, it is my great pleasure and privilege to welcome you to the 19th ASEAN Valuers Association Congress on the theme “One ASEAN, One Valuation Standard.” and I would like to take this opportunity to congratulate Cambodia’s Valuers and Estate Agent Association (CVEA) for taking the chairmanship role to host this important congress, which brings together government officials, representatives from the private sector, professional institutions, research communities, academia and other related institutions to discuss the issues and matter relevant to the theme. Excellencies, Ladies and Gentlemen It has been almost 5 years since Cambodia hosted the 17th AVA pre-congress in 2011 in Siem Reap. Now, we can clearly see that all our AVA member countries have significantly developed their valuation profession; among those some members have even moved a step ahead towards international standards. The theme of today’s congress “One ASEAN, One Valuation Standard” reflects the vision of ASEAN Economic Community (AEC) “One Vision, One Identity, One Community”. As we all know, AEC is an emerging political and economic entity that is increasingly becoming an important force in global political and economic landscape, with a combined population of 600 million and total overall market value of around USD 2.6 trillion. The ASEAN with the GDP average growth rate for 2016 expected to reach 4.9%, is a new emerging market to attract global investment and play a role as economic engine to drive the Asia’s economy. With the AEC starting last year, the cooperation among ASEAN member countries has further strengthened significantly. Meanwhile, the regional trend toward increasing ASEAN integration in all aspects of business fields has driven the need for regional standards in every sector of business. Regarding the Appraisal and Valuation profession, it has led to the initiative of ASEAN valuation standards. The growth of cross-border investment and markets, including the real estate markets, needs common rules to level the playing field for market participants and thus contributes to insure transparency in business operations. However, establishing ASEAN valuation standards is not an easy task. It requires time and efforts to reach mutual agreement among member states given the different stage of development, and different legal and regulatory framework of each member. In this regards, I would like to bring your attention to some main challenges we are facing in real estate valuation, namely multiple systems, methodologies, lack of national standards, lack of formal education and training, etc. In addition, it is a matter of fact that data related to real estate market is scarce. Some values of properties are out of date due to irregular updating of market values, which greatly impacts many economic and financial transactions based on property value. In this aspect, the 19th AVA congress today is organized in a very timely manner. It provides a forum for all relevant stakeholders to discuss, compare and analyze the different valuation practices of ASEAN countries in order to identify the challenges of the Valuation Standard and practices and to come up with an improvement plan. Excellencies, Distinguished Delegates, Ladies and Gentlemen, While pressing the importance of strengthening the valuation standard, we also have to understand the need to enhance the capacity of valuers. Without professional valuers, we cannot evaluate assets of a company at fair market value. So far, Cambodia have 75 licensed professional valuers who are working in 62 valuation firms. Some well-known international property agencies and valuation firms, such as Knight Frank, CBRE, Century 21, Savills, and so on, are also expanding their business to Cambodia. Compared to other advanced countries, Cambodia’s real estate market is still at early stage of development, yet a fast growing market. In fact, Cambodia’s real estate sector is facing a lot of challenges in terms of legal, regulatory, and supervisory framework as well as inadequate human capacity. The rapid expansion of real estate projects requires independent and competent professional services in this sector. These professional services are not only fundamentally important for the development of Cambodia’s real estate industry, but also for all AVA members. The Royal Government of Cambodia is now working closely and pro-actively with the private sector to develop the real estate market. In particular, the MEF now is drafting our national valuation standards by taking into consideration regional practices and experiences. In the meantime, we are also preparing ourselves to adapt to ASEAN valuation standards as well as the International Valuation Standard Council (IVSC). We are also now working on updating our regulatory and supervisory framework to be in a better position to monitor and safeguard the real estate sector. In this effort, we are in need of Technical Assistance from the advanced AVA member countries and I trust that through the spirit of ASEAN cooperation, Cambodia will receive these necessary supports and assistance. Excellencies, Distinguished Delegates, Ladies and Gentlemen, Moreover, as a chair of this congress, I would like to encourage all advanced AVA member countries to extend their hands to assist less developed ASEAN members to develop competency and professionalism in the real estate sector. By doing so, I strongly believe we will see sustainable development of our regional real estate market which contributes to further enhance the Asean Economic Community. I strongly hope that the outcome of the 19th AVA Congress will bring closer collaboration, harmony and prosperity to all our AVA member countries. This also enables us to promote AVA as a regional community in the international arena. Before conclusion, I would like to thank the organizing committee for the excellent arrangement of this congress.  I would like to wish the 19th AVA Congress to be conducted successfully and fruitfully and wish Excellencies, AVA chief delegates, Distinguished Delegates, Ladies and Gentlemen happiness, prosperity, and success in all endeavours. For foreign guests, I hope you enjoy your stays in Phnom Penh and make your time to visit and explore the rich culture of Cambodia. May I now declare the opening of “the 19th AVA Congress”. Thank you." Realestate.com.kh is extremely proud to sponsor this year's event, and commends the huge efforts from the CVEA to create such a fantastic and well-attended event - which will have lasting benefits for the real estate and valuation industry in Cambodia. Well Done!Stay tunes for realestate.com.kh's full video coverage of the event on REALESTATE.COM.KHTV

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) was held this April at the Phnom Penh Hotel, with a host of the local and regional real estate industry leaders giving their outlooks on the state of the Cambodian real estate market.Realestate.com.kh caught up with James Padden, Commercial Agency Manager at CBRE Cambodia at REMOC 2016 to get his 2 cents on the state of the current and future Cambodian property market prospects and to learn about strata title office space in Cambodia: What makes you optimistic and what worries you about the Cambodian real estate market? CBRE are optimistic about the office market. Exchange Square is due for completion in Q4 16 and has seen strong interest locally and regionally highlighting growing demand for grade A space in Phnom Penh. Increasingly we are seeing interest from companies in office space in secondary cities such as Sihanoukville, Battambang and Siem Reap highlighting that Cambodia is not all about Phnom Penh but these provincial cities are seeing strong economic growth in their own right.I think there is a need for caution regarding the residential market and we are yet to see strong domestic owner/occupier demand that is required for condominiums to really drive the market forwards. Existing investment is predominantly by overseas investors looking for capital growth. This market will be driven long term by Cambodian occupiers and this has been slowly changing but is yet to become a clear segment of demand. What significant changes are you anticipating for the Cambodian real estate market over the next year?We have seen the announcement of strata title office space in Cambodia for the first time in 2014 and this is a welcome trend with this asset being a popular investment in other markets such as Hong Kong and Bangkok. There will be further segmentation of the office market as Exchange Square adds to grade A office stock. High prices and limited availability of land in prime, central areas is likely to continue the trend for development in secondary locations such as Sen Sok and Chroy Changvar.Strata title office space in Cambodia is a good step forward for the investor market. I think we will also see continued development and investment activity in provincial cities such as Sihanoukville, Battambang and Siem Reap. Overall we expect 2016 to be a year of a lot of activity driven by Cambodia’s continued strong economic growth and further bolstered by the movement towards ASEAN integration as there is continued intra-ASEAN investment and regional expansion of businesses out of their home markets.Want more video content? Check out the Realestate.com.khTV channel now!

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) was held this April at the Phnom Penh Hotel, with a host of the local and regional real estate industry leaders giving their outlooks on the state of the Cambodian real estate market.Realestate.com.kh caught up with Chrek Soknim, CEO, Century 21 Mekong at REMOC2016 to get his 2 cents on the state of the current and future Cambodian property market prospects:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? At the upcoming REMOC-2016 on 1 April, I’m going to talk about the most updated Phnom Penh Condo Market and Trends, with Most Insights into Phnom Penh condo market Primary Market, Supply, Demand, and Key Successful Factors for Developers. Condominium isn’t a nascent market anymore in Phnom Penh. It’s been here now eight years, yet there are many things for developers, buyers and key players to carefully learn to get into the market insights so that they can gear to the right paths for this real estate subsector. What were the most significant developments for the property market over the last year? I believe condominiums are one of the solutions to curb with heavy traffic, increasing land prices, convenience, and a quick pace of modernizing living standards among young white-collar generation. However, with an excessive influx of condominium launches last year, the Phnom Penh condo market now becomes stiffly competitive while it also offers numerous choices for buyers. What makes you optimistic and what worries you about the Cambodian real estate market? When looking at the Kingdom’s market absorption rate at an average of 32.4 months, in recent months it’s started to slow down and this needs a careful analysis on local demand, affordability, and trends, instead of relying solely on foreign market comparisons when a new developer wants to enter into condo market. What significant changes are you anticipating for the Cambodian real estate market over the next year? The Phnom Penh condo market will suit the young generation and fulfill to their lifestyle demands. This sector will grow very fast if financial support comes from financial institutions providing the easy conditions to afford to buy condos. It is also the open market for the foreigner, which will help to supplement this sector’s growth.

The Penthouse Residence will host a special event at Aeon Mall between May 5th and 6th, 2016. For every unit purchased at the Aeon Mall event, all customers will receive a special 5% discount together with a brand new iPhone 6S!!!Learn more about Penthouse Residence in this great video on Realestate.com.khTV! FIND OUT MORE ABOUT THIS GREAT PROJECT RIGHT HERE!The Penthouse Residence are strategically located on Sothearos Boulevard and architecturally designed to meet the demand for luxurious condominium living within the contemporary city of Phnom Penh, Cambodia.With its bold and innovative architectural design, nothing has been spared in creating Cambodia’s first luxury condominium development. 36 floors of luxurious residence complemented by every amenity will result in nothing less than lavishing, from the spectacular panoramas of the city skyline to the attentive services of the concierge and our management team. Setting on prime & unique real estate location, The Penthouse Residence comes with roof top terraces, infinity swimming pool,fitness center and the first and only one world class revolving restaurant (in Phnom Penh) to give you a 360 degree panoramic view of the city skyline. Surrounded by conveniences of international standard, located next to premium residences and business centers such as the Sofitel hotel, Aeon Shopping Center and ICAN British International School to name a few, make The Penthouse Residence the most desired address in Phnom Penh. Designed to surpass expectations, The Penthouse Residence exude a warm Cambodian feel, which is subtly manifested in the premise’s architectural style, choice of furnishings and landscaping. Residence enjoy privacy and warm hospitality. A wealth of recreational facilities and luxurious services make The Penthouse Residence the most desired address in Phnom Penh. Come along to the special event at Aeon Mall this May 5th and 6th, 2016. For every unit purchased at the Aeon Mall event, all customers will receive a special 5% discount together with a brand new iPhone 6S!!!FIND OUT MORE AND INQUIRE TODAY