A first of its kind development is in the limelight right now for its unique offering…Set to rise completely by the end of 2018, 88 Suites will be the first SOHO (Small Office Home Office) development on the outskirts of the Boeung Keng Kang I area. It is a product of both taste and quality that are upheld by renowned Malaysian-based architecture firm SW1P Collective and developer YCT Land Pte Ltd, with a host of highly successful projects across Malaysia. It is also funded by Malaysian property developer Chip Hock Realty who likewise have been part of several successful projects such as the University Green and the Pangsapuri Bukit Beruang Bestari, Malaysia.Only two months into construction, 88 Suites is enjoying a good turnout for where Sor Thida, CEO of Royal 5G Realty Co. Ltd – the exclusive marketing and sales agency of the project – says around 30 percent of the units have already been sold.In an interview with Realestate.com.kh, she also mentions a few factors that have made 88 Suites an particularly attractive property in the Phnom Penh residential market.Life in Style:Thida mentions that 88 Suites is “the first full-facility SOHO” property in the area which is meant to provide a dual-use area for small business owners and individuals. It was specifically designed to feature a slim, tall, modern, and spacious theme throughout the whole property with the use of high ceilings and modern fixtures that have been purchased from international brands like Villeroy & Boch, MEX, and GROHE.To get a feel for the space, you can visit the 88 Suites showroom just behind the Australian Embassy, just near the National Assembly.Life in Balance:88 Suites is staying true to its mantra – work, live, play – by offering modern amenities that are apt for both office, residential, and entertainment use, all in one address.Their facilities include free internet access in common areas, meeting rooms, discussion rooms, lobby/lounge, a communal business centre, and an intelligent car parking system. Meanwhile, residents can live here and enjoy the shuttle service offered by 88 Suites, along with the offering of three unit types –  the SOHO Luxe, SOHO Loft, and the SOHO Executive. It also includes international standard security features.But you can also wind down and relax at 88 Suites - the property includes features for play such as a sky deck with a swimming pool, a gym with sauna, and a rooftop with a view of the city.Situated along the edge of BKK1, at the Mao Tse Tung Boulevard, the property is also near establishments like the Parkway Square Shopping Center and Aeon Mall, where you can shop, eat, buy groceries, or grab a coffee. It is also near brand shops, international schools, embassies, and airports. These include Footprints, the Phnom Penh International School, the Embassy of Brunei, and not a long drive from Phnom Penh International Airport.Thida also mentions that this prestigious location, alongside Mao Tse Tung Boulevard, offers a more convenient flow of traffic and accessibility for residents than the tight, and often jammed, streets of BKK central.Investment Opportunities:Thida explains that there is a high demand for commercial spaces in BKK1, and 88 Suites offers the flexibility of being both a residential and a business property that can house up to 5 or 6 employees per unit.Each unit can range anywhere from 50 square meters to 101 square meters and can be priced anywhere in between $150,000 and $400,000.So far, the developers have partnered with RHB Bank and is able to offer up to 60% loan with easy approval criteria, given the Bank’s trust in the developer. This loan can be paid off up to 10 years for foreign buyers and up to 15 years for local buyers.Thida also mentions that 88 Suites is a great opportunity for investors to gain long-term monthly rental income returns, which can potentially be as high as 8% yearly. She adds that the units are perfect for small to medium size businesses who are looking to resell later on and get capital gains.So, if you’re thinking about buying a property that has some good opportunities for future personal investment or your current small business, then it might be worth purchasing a unit at the 88 Suites project.See the full 88 Suites listing today, and visit the showroom in Phnom Penh!

Phnom Penh has just gained another prime freehold mixed use development property - except this one presents a truly holistic investment opportunity for new homeowners and investors. The project is named The Skyline  Cambodia and was proudly launched in April of 2015. Find out more about the Skyline today!Reaching New Heights:Located at the very heart of the central business district of Phnom Penh, in 7 Makara District, the Skyline is expected to reach completion by December of 2018 and will stand with a total of 39 floors.The first 3 floors will be solely dedicated to retail and mall space, followed by 6 full-floor parking levels - significantly more than most parking spaces offered by other developments in the area. The 9th level is where the communal facilities and pool deck will be located, while the 38th floor will serve as the sky deck featuring a breathtaking view of the whole city.The Skyline will stand amidst numerous landmarks of Phnom Penh urban life, such as the Peace Palace, Olympic Stadium, Canadia Tower, Vattanac Tower, and alongside the Central Market. It is also strategically located near embassies and schools like the German Embassy, Norton University, Tuol Kork Primary School, and the Phnom Penh International University.7 Makara district, in which the Skyline is located, is seeing significant land prices rises over the last year and a half, as developers begin to shy away from districts such as BKK and Tonle Bassac, with fears of an oversupply of units in these areas, and growing concerns about traffic congestion and infrastructural limitations.Soaring with a World-class Partnership:The Skyline is the product of a joint venture by international developers SGDP Development of Singapore and China-based Hong Lien, with a strategic partnership with local company Land & Houses (Cambodia) Investment Co, Ltd. (LHC) as their preferred sales agent.LHC was founded by a young entrepreneur Madame Se Lily who has also managed sales and development for several projects already, such as the Borey Varina, Chroy Chongva Residence, and Royal Bayview. Learn more about Land and Houses Cambodia now!Staying on Cloud 9:The Skyline development has a host of amenities and facilities within the property.Other than the sky pool deck, 3 floor retail shopping mall, and 6 floors exclusively reserved for car parking space, residents will also be able to enjoy eating at the outdoor dining area, cooking at the BBQ pit, working out at the outdoor fitness area, holding events in the various function rooms, relaxing on the landscape deck, or just catching up on their literature at the reading room.The Skyline will have two 29-storey blocks of residential units that come in either one bedroom, two bedrooms, three bedroom penthouses, or four bedroom penthouses. These units are fitted with built-in wardrobes in every bedroom, built-in kitchen cabinets, air-conditioners, heaters, and a whole lot more, all inclusive in the asking price.High time for Flexible Financial Terms:Buyers will be able to benefit from the developers 6% leaseback options, providing rental revenue of 6% for at least three years after the project’s completion. But there are also other options for buyers who want to continue this scheme after three years. This offer marks the developer’s strong confidence in the rental yield strength of 7 Makara.The developers, SGDP Development and Hong Lien, are also offering lower cash outlays at only $2,000 deposit. Property taxes are also straightforward and all inclusive in maintenance rates, with a stamp duty of 4 percent, 0.1 percent per annum property tax, a rental tax of 14 percent per annum, and a VAT of 10 percent.If you are looking to invest in a piece of high-end real estate that offers an international standard lifestyle with a development team you can trust, then find out more about the Skyline today!

Though the road was long and winding, Cambodia has reached new heights in the past decade across many industries - none less, the real estate sector. And along with continuing success, there is also a need to understand how the market is developing in comparison to the region. By studying Cambodia alongside an understanding of similar markets nearby we can better predict the future of the real estate sector, and handle potential problems before they occur.This is according to CBRE Vietnam and CBRE Cambodia managing director, Marc Townsend, who spoke in depth regarding the latest CBRE Cambodia's Marketview Q2 2016 report last week in Phnom Penh.The resounding remark from Townsend was that, “All of us who have been involved in the real estate industry for sometime understand that any market is cyclical. What is happening in Cambodia currently has happened in neighboring markets.”With this sentiment in mind, we can better understand current market conditions in Cambodia - and concepts such as the potential oversupply in the condo market, speculative price growth in Phnom Penh land, and issues regarding credit issues around lending for property - in a context of curb and flow.A downside for the market now offers opportunities down the line as it naturally adjusts itself - and ultimately, a maturing of the real estate market as a whole.CBRE Cambodia’s Marketview for Q2 2016 Recap:The World Bank officially elevated Cambodia to the status of a ‘lower-middle income’ economy at the close of Q2.Hongkong Land’s mixed-use development, Exchange Square, held its topping-out ceremony over Q2, with overall completion set for Q4 2016. Prime sales and rental prices broadly appreciated over Q2, with the exception of serviced apartment rents, which remained stagnant over the quarter. Average quoting rents across Grade B buildings grew by 4.5% q-o-q, while average quoting rents across Grade C stock decreased by 3.9% q-o-q. 2,796 condominium units, across 8 projects, launched over Q2, with Russey Keo district welcoming its first off-plan sales launch. Land & Investment in Cambodia Q2 2016:While foreign buyers are focused on the hottest areas on the market where land prices have reached all time highs, namely central Phnom Penh districts such as BKK and Tonle Bassac, Townsend explains that “the local Cambodian land bankers and landowners are obviously moving in a different trajectory. They’re thinking four to six years ahead.” This is also due to many local buyers being priced out of the downtown market.These local land buyers understand that infrastructure such as bridges, roads and sewage is, and will continue to, drastically affect pricing of land on the outskirts of the city. This has been highly apparent in Chroy Changvar, where land price is rising significantly year on year, at a much faster rate than land in the CBD.Investors targeting the lesser known districts of Phnom Penh that are able to predict these improvements in infrastructure will make large returns in the not so distant future. Given the need for local connections and understanding however, this opportunity remains in the realm of local buyers and agents for the time being.Phnom Penh Residential Market Q2 2016:Although the number of foreign developments are continually growing and expected to contribute to a supply of condominiums of around 25,000 units by 2018, Townsend states that “the local developers are the main players. It may not be that way every quarter. But obviously, the strength and depth of Cambodian developers are growing.”These local developers have a better understanding of the means of the local market buyers, and this is creating more affordable options in the market. These developers often look outside the most expensive corridors of Phnom Penh where, once again, a lesser degree of infrastructure plays a big role in allowing developers to acquire affordable land and ultimately create a more affordable end condo-product. If they are lucky, the infrastructure will come as their project nears completion.Townsend then describes that as the market matures a variety of other property types have been popping up in the Phnom Penh new developments market, such as hybrids, SoHo and smaller units.Mixed-use developments have also made their way to Phnom Penh, a way of developers offsetting their risk in a unit-heavy condo market by combine a mix of retail, residential and commercial options for buyers within a single development.Despite growing competition though, condominium prices have still seen small but steady growth from 2015, up until the second quarter of 2016. It is with this slow growth that Townsend says that, “trajectories have changed from being favorable to the developer to favorable to the buyer.”Townsend explains that if there are no secondary sales from the primary residential market, then it’s a sign that the market’s only going to get worse. Cambodia developers must heed this advice with care.Yet, Townsend notes that it is with this change in trajectory that the serviced apartments market is suddenly playing a much bigger role.As Townsend puts it, “When the residential market dries up or begins to change the trajectory of sales per month or per quarter,” developers begin to look to see if they’re able to convert some of the units to serviced apartment units to cut cost, and assure returns. Townsend notes that the serviced apartment market in Cambodia seems to still be going strong.In regards to the condo market for international investors, Townsend also notes that, “It’s a limited market at the moment. And obviously, at some point, it will come on the radar screen of a wider group of people”. Once Cambodia enters the consciousness of investors around the world, the market has the potential to change dramatically.It seems that so far we have only seen the tip of this iceberg…He emphasizes that it’s important to be out there and getting your story across, and marketing internationally - not just individual developers and agents, but the national as a whole.He adds the need for a diversified investor pool to negate risk across the market: “We need investors from all over the region. Not just from one place. You need to have a balance.” Otherwise, when one set of investors for some reason boycott the market or lose their influence in the country, the market can still be sustained by the overall investor pool.Given Cambodia’s current reliance on condo investors from Taiwan, China and Korea in particular, this word of warning seems highly valid.Phnom Penh Office Market Q2 2016:Townsend mentions that big businesses aren’t as enthusiastic to go to Cambodia for expansion as other markets.He says, “Unfortunately, we’re at that stage where most of the people that are going to be here expanding and upgrading are here already.” So, he doesn’t predict a whole lot of new activities happening in this market.He adds, “The reality is not a lot of those Fortune 500 companies will be coming here. But the ones that are here want to be here.”He also addresses the audience of developers saying, “some of you will be thinking that you can fill your building in a year – not retail, but an office building. When things tighten up and everybody gets the same idea to have coffee at the same time, or go to the lift at the same time, or when the pilot puts the lights on in the airplane to go the bathroom at the same time, the same thing happens in office markets. So, sometimes, some of you may have mistimed it. And instead of taking one year to fill, your building may take three years to fill. This is the reality of real estate and commercial office space in a developing market.”The data gathered by CBRE shows that while supply in the office market has risen drastically – most especially with Grade A office units – occupancy has lowered from 2008. It also shows that the biggest business type occupying these office spaces are the banking & finance and logistics industries, which comes in at 22% and 14%, respectively.Townsend also explains that more and more strata titled office space is appearing in the Cambodian market, and that it’s not necessarily a bad thing - but it is a sort of inflection point because it’s more difficult to handle a strata title building from the developer's perspective.Phnom Penh Retail Market Q2 2016:The retail market is also seeing an increase in supply, mainly with shopping malls, community malls, and retail podiums, where CBRE expects it to only go up even more in the next two years.Their data also shows prime shopping malls, prime retail podiums, prime high street, and prime retail arcade at an average rental rate per square meter of $31.44, $48.3, $30, $52.5, respectively. These developments include the Exchange Square, AEON Mall, and the Naga Citywalk.Townsend says that the market’s maturing, as evidenced by new products like row houses and shop houses. He also says that there is high demand right now for long-term leases that usually comes hand in hand with quality investment opportunities for incoming investors.He says that the Cambodian retail market is slowly gaining traction as well, with the coming of different international brands like Levi’s, Starbucks, Hugo Boss, Long Champ, Salvatore Ferragamo, and L’Occitane.CBRE’s researched data for Q2 2016 shows that these have contributed to the high occupancy rate for the retail segment, where the majority of those who are occupying the space do so for financial & professional prime retail use. It also shows that “26 percent of retailers surveyed identified SEA countries as target markets for 2016.”As a result of this, CBRE is expecting even more construction and expansion for the retail industry.Siem Reap and Sihanoukville Q2 2016:According to Townsend, there are a lot of things happening in Siem Reap and Sihanoukville, in particular, a lot of activities in retail and hospitality. Infrastructure upgrades are also helping shape the two provinces. Just recently, the Royal Railway has restored its services to transport passengers from Phnom Penh to Sihanoukville, for example.He adds, a rising level of infrastructure will, “Obviously drive retail and condo sales, and second home sales.”Some of the properties available here are located in different islands such as Dara Sakor, Song Saa, Koh Rong and Koh Chanloh. But Townsend explains that the current difficulty here is getting people to actually go to these provinces, because there is actually more work that needs to be done in terms of basic infrastructure. But he balances this out and says that prices here are very attractive: Luxury resort villas range in the $2,000 to $3,000 per square meter range, for example.Talking about the competitive pricing in these provinces, Townsend adds, “when developers start to move their total focus away from the primary residential market in the main cities and concentrate on the coast, then obviously where they’re looking for new markets and looking for new product, again you can see this reflected here with that sort of pricing.”Outlook Overall Q2 2016:Townsend also talked about finding new markets that may already be in existence but have just not been captured yet, such as the opportunity to seize the growing interest for retirees.In a report by International Living, Cambodia ranked 21 as one of the best places to retire in the world. Townsend adds, “We’ve got to keep finding new markets, new things, and put some analysis behind it.”One of the sectors that are also being extensively marketed is the industrial sector; where industrial parks and Special Economic Zones are starting to slowly pick up as there is a growing need for increased fit-for-purpose space for factories, according to Townsend.He also mentions that tourism is one of the primary driving forces in Cambodia’s economy, “but you’ve got to get out and market it. You can’t rely on one group. You’ve got to rely on a wider source. And so much of it comes down to that airport. So much of it comes down to infrastructure.” Townsend says that as these things continue to come up across Cambodia, tourism will surely grow.In conclusion, Townsend says that “if you haven’t already started building a retail center, you’re too late. If you’re building Grade A, finish it quickly. If you’re building or thinking about building Grade B and C, just make sure you put enough lifts in, and enough car parks, and enough motorbike spots, because if you haven’t, there’s already enough in the pipeline. If you’re going to build something in the industrial park, you’re probably going to need to heavily spend more money on marketing and be prepared to invest in factory space on behalf of the tenants that hopefully, you can attract either from Europe or North Asia, or indeed, out of China. And if you’re doing a big residential project and it’s got six phases, then look at the resale market.”Be an investor with valuable foresight, stay tuned to Realestate.com.kh news!

Although relatively new to the market, the Phnom Penh-based Land and Houses (Cambodia)(LHC) Group has already established themselves as a standout player in the the Cambodian real estate sector.LHC asserts its presence through five individual companies, each carrying a distinct expertise under their individual brands - yet overseen by the overall group director. The mother company is Land and Houses (Cambodia) Investment Co. Ltd., first established and officially registered with the Ministry of Commerce by Madame Se Lily, an experienced Phnom Penh real estate entrepreneur, in August of 2015. This company specialises in property investment broadly. The other four companies are the Land and Houses (Cambodia) Construction Co., Ltd., Golden Han Fei, Phnom Penh Land Development, and the LHC Architecture.Uniquely, through this network of companies, LHC is able to offer comprehensive services to clients without needing to outsource outside the group.Diversification; the Key to LHC’s Market Offering:With the list of different entities under the LHC umbrella collaborating and consulting with each other, the LHC group is able to offer a range of specialty services that can ensure the group can take property investors, developers and real estate sellers from the start to the finish of their projects, whatever those projects may be.These services include local and international property investment, property development, property consultation and feasibility studies, property and asset appraisals, property management, construction and architectural design. These services are readily available for international, local, and corporate clients. Contact LHC today and find out more!Quality and Excellence; LHC’s merger of International Talent with Local Understanding:Land and Houses (Cambodia) Group also maintains standards of trust and reliability through the use of high-grade materials, high-caliber manpower, and a culture of transparency. This has been achieved by forging joint venture partnerships with vendors from around the region, creating new companies that can draw from international experience, coupled with a firm experience in the local Cambodian market.Managing Director of the Group, Tyler Stuart, is a UK-born real estate and marketing professional with years of experience in the international & local market. Tyler Stuart has a clear focus for the direction of the Group’s companies as a whole, and maintains all staff are aptly specialised, and are driven to reach their personal and company goals.Armed with locally and internationally trained skilled professionals, LHC has already worked on several projects. Their group of researchers, advisers, marketers, analysts, consultants, property agents, and surveyors have collectively used their abilities and knowledge to market, sell and consult developments such as the Borey Varina, Chroy Chongva Residence, Borey Mohasensok, and their most high-profile mixed-development project yet, The Skyline, a 39-storey, 3 tower mixed-use development in central Phnom Penh, covering a total land area of 4,836 square meters. The Skyline boasts a 6-storey car park, and a 3 storey commercial shopping plaza on the ground floors. The project reaches completion in December 2018. LHC is exclusive sales vendor and manager of the Skyline project.Commitment to Follow-through:What sets Land and Houses (Cambodia) Investment further apart from other real estate firms and groups in Cambodia is their unique ability to provide a start-to-finish service, allowing clients to relax and know their property assets are secure.Six reasons why LHC’s service offerings are a cut above the rest include a solid marketing philosophy, a sellable website presentation, a positive and enthusiastic team, immediate buyer leads management, negotiation expertise, and administrative support.They are with you from the start, from purchasing the property and producing feasibility plans, right through to the property management, maintenance and leasing, committed to a long-term partnership with its clients.So, if you’re looking for a one-stop service provider for your real estate needs, whether you are a private seller, current property owner and operator, or a developer looking to launch a Cambodian based project, consider the Land & Houses (Cambodia) Group to assist you through each step of the process.Contact LHC today and find out more!

With a growing range of condominium units coming into the Cambodian market, many have expressed their concern over ongoing and future condominium projects which may contribute to an eventual oversupply. But this did not deter YCT Land Pte Ltd, an established Malaysian developer, from constructing what would be a first in this country.Paving the way and utilizing the expertise of Kuala Lumpur-based architectural firm, SW1P Collective, 88 Suites – a “small office, home office” property – will now be introduced into the Phnom Penh skyline and property market.Otherwise known as SOHO, this type of property has been popular in different countries for quite some time now such as in Malaysia and Hong Kong. This is due to its dual-purpose characteristics. This, according to Mr. Chee Eun Tang – the Director of SW1P – will cater to both the younger and older generations who are looking for either self-use or for future investment.For 88 Suites, SW1P has created a tall, elegant, and eco-tropical building that glimmers under the sunlight. The external metal mesh screen not only provides sun-shading purposes while optimizing incoming natural daylight, but is also a design tribute to Cambodian traditional textile. Within that narrow exterior are three types of SOHO units which are thoughtfully finished and furnished to international quality and standards. These units include the 85 square meter SOHO Luxe, 100 square meter SOHO Loft (duplex unit), and the 50 square meter SOHO Executive.88 Suites will also feature the first Intelligent Car Parking System in Phnom Penh which will allow auto mechanisms to park a car without the need for a driver or valet, keeping everything compact, convenient and secured for unit owners."Life in Balance", the SOHO concept for 88 Suites, according to Mr. Tang, promotes a modern lifestyle for "live, work, play."Unit owners live in a comfortable and fully secured environment, while enjoying the convenience of both business and leisure amenities such as the sky lounge with meeting rooms, business centers, infinity pool, sky gymnasium, saunas, 24-hour and 4-tier security system, modern bathrooms and kitchens fitted with products from world-class brands such as Villeroy & Boch, and GROHE. The building will also have wireless internet connection throughout.Located in the heart of the capital in Boeung Keng Kang 1, 88 Suites is accessible to nearby destinations, including the Mao Tse Toung Boulevard, Preah Norodom, Naga World, Phnom Penh International Airport, Sisowath Quay, and the Aeon Mall. It also comes with an impressive 360-degree view of Phnom Penh  City that also overlooks the Mekong River.Amidst the growing number of the usual condominium developments, 88 Suites serves as a breath of fresh air and as a challenge for future and existing developers to step up their game. Should their SOHO concept find success, this may be the start of a whole new property market in Cambodia.See the full listing and inquire today!

THAILAND, 6 September 2016 – Asia Property Awards and Property Report, part of PropertyGuru Group (“PropertyGuru”, “Group” or the “Company”), Asia's leading online property group, today announced a leadership change involving Steve Melhuish, Co-founder and Chief Executive Officer (“CEO”) and Hari V. Krishnan, President and Chief Business Officer (“CBO”). After nine years as CEO of PropertyGuru Group, Steve has decided to hand over the day-to-day operations to focus on the Company’s longer-term strategy, business growth, and key client relationships. Effective immediately, Steve becomes Vice Chairman of PropertyGuru and continues to support PropertyGuru full time. Hari is promoted to become CEO of the Company and joins the two co-founders – Steve Melhuish and Jani Rautiainen – on the Board of Directors (or the “Board”). This transition is part of a process initiated two years ago by the co-founders, Steve and Jani, to develop a world-class leadership team and succession plan. They identified Hari as a potential CEO successor in 2015, with the latter bringing to the table over 15 years of leadership experience in the Technology industry in the US and Asia. At that point, Hari was the Vice President for Asia Pacific & Japan at LinkedIn, having joined them as their first employee in the region. Hari joined PropertyGuru as President and CBO in January 2016. His appointment was followed by a few other key leadership hires, completing the executive leadership team in June 2016. Steve said, “PropertyGuru is in a very strong position today, with our brands holding the number 1 position in all our core markets. Revenue and traffic continue to grow rapidly, and we’re on track to return to profitability next year – after five years of aggressive investment in regional expansion, product innovation, marketing, and developing a world-class leadership team. As such, Jani and I felt that now was the right time to pass the baton.” Steve continued, “Hari’s done a stellar job as our CBO these past eight months. His exceptional leadership and people development skills, and vast experience in managing large teams across a complex set of markets and businesses make him the ideal candidate to continue the PropertyGuru success journey.” Steve co-founded PropertyGuru due to his personal frustrations at trying to find a new home in 2006. Over the last nine years, Steve and Jani have helped to grow the company into Southeast Asia’s leading online property platform, used by over 16 million property seekers every month to find their dream home. Today, the platform generates over S$15 billion worth of transactions per annum for its 35,000 real estate developer and agent clients. Starting out as a two-man team, PropertyGuru now has over 420 staff, and its solutions extend beyond online property search to cover real estate events, awards, print publications and sales collaboration tools in nine Asian countries. “Jani and I remain very much part of PropertyGuru. We continue to be 100% committed to supporting the Company’s mission of helping property seekers across Asia make confident property decisions. Leading this Organisation has been an incredible experience – immensely gratifying and humbling! The success of PropertyGuru has far exceeded our expectations. It’s been a huge team effort and we’re thankful for the amazing support over the last nine years from our Gurus, consumers, customers, partners, media and investors. We’ve built an awesome team and culture at the Company, and we’re both excited about being a part of more accomplishments in the future,” he added. Incoming CEO Hari V. Krishnan, said, “PropertyGuru has been built by a wonderful team of entrepreneurs focusing on real consumer needs in our markets. I am excited to lead the Company’s next phase of growth, working with our talented team to bring more exciting innovations to property seekers and to deliver more value to our customers.” He added, “I am honoured to succeed Steve as the next CEO of the Company and look forward to continuing my partnership with him, which I have truly enjoyed these past eight months. As a result of our continuous consumer-focussed innovations and the biggest investment in research and development in our sector, the PropertyGuru family of brands are stronger than ever. I look forward to working closely with our seasoned leadership team, the Board of Directors, and most of all our talented employees, to serve all of our constituents – consumers, customers, partners and investors.” Concurrent with these appointments, Jani Rautiainen, Co-Founder, Managing Director and Board Member of PropertyGuru Group, will transition into a new Executive Director role. He will be supporting the Group’s longer-term business development, continuing to help shape the Company and product strategy, and remains an active Board member. Lewis Ng, currently Managing Director for the Group’s Singapore operations, will be promoted to become Chief Business Officer, effective immediately. In addition to overseeing Singapore, Lewis will now focus on driving revenue growth across all markets. Steve said, “Jani and I are pleased with Hari and Lewis’ new appointments. We believe the PropertyGuru leadership team is the strongest in the industry and has the depth of experience and expertise to scale and further accelerate the company’s growth over the coming years.

On the 20th of August 2016, the Cambodian Valuers and Estate Agents Association (CVEA) conducted a public forum regarding "Today’s Real  Estate Industry in Cambodia" at the Sofitel Hotel in Phnom Penh. The discussion-based event was joined by an eclectic group of stakeholders – including property developers, media organizations, real estate agencies, banks, and the general public.In a panel discussion about the “Opportunities and Challenges of Housing development,” Ms. Chan Socheata, the Head of the Office of Business Management Housing Development at the Department of Industry and Finance, said that “everyone needs to posses their own house. So, why do they need to have a legal license? How is it significant or important for the buyer?”What does a developer need to do while Licensing a development project in Cambodia?She mentioned that “generally, before the issuance of the license for any project development, the ministry evaluates through its checklist to find out whether the development has a clear and strong source of income, capital, collateral, land title, and other assets that support their project, especially because project owners need to make a business plan to present to the ministry.”“The ministry will check whether it’s a good business, and if it can be successful in the future or not. In some cases, there’s a need to research on the sales strategy of the project, because sometimes a project’s owner does not do an in-depth market analysis with the surrounding market. And another reason is to find whether this project causes a bubble market. So, if this case happens, the ministry can take measure immediately,” says Socheata.Socheata also mentions, “If we find that the sale price of this project is under the market price, we can allow managers to reconsider again about the selling price – comparing start cost and other conditions – in order for them to sell at a good rate.”How much upfront capital is required for a developer licensing a development project in Cambodia?“The project development needs to have at least 2% of the total capital deposited in the bank of Cambodia or any commercial bank in Cambodia. Even though this deposit money is a small amount, it shows that the development has its capital. And it also causes the customer to trust the project too,” she added.  Socheata concludes by saying that “all project developers have to get a license from the Ministry of Economy and Finance. And this is something that any buyer should seriously consider before buying residential properties off plan, whether condo or borey. Keep in mind to ask whether that project has got a license in order to protect your own benefit and not waste money with unnecessary trouble.”Check out the latest Boreys and New Developments on Realestate.com.kh today!

According to recent Khmer Times report, after a year-long feasibility study by the Japan International Cooperation Agency (JICA), the Cambodian government is now seeking $800 million funding in order to undertake development of an automated gateway transit (AGT) system for the capital city, Phnom Penh. An Automated Guideway Transit (AGT) system is an automated, driverless transport system where vehicles are guided along a "guideway" or rail system. Most are rubber tired, but some systems have steel wheels. It is somewhat similar to a SkyTrain, Tram or Monorail system, depending on the design. “Through the evaluation, the AGT is the most flexible system in terms of geometric design among other alternatives such as a metro, monorail, LRT

On the 20th of August 2016, the Cambodian Valuers and Estate Agents Association (CVEA) conducted a public forum regarding "Today’s Real  Estate Industry in Cambodia" at the Sofitel Hotel in Phnom Penh. The discussion-based event was joined by an eclectic group of stakeholders – including property developers, media organizations, real estate agencies, banks, and the general public.In a panel discussion about the “Opportunities and Challenges of Housing development,” Ms. Chan Socheata, the Head of the Office of Business Management Housing Development at the Department of Industry and Finance, said that “everyone needs to posses their own house. So, why do they need to have a legal license? How is it significant or important for the buyer?”What does a condo or borey buyer or investor need to consider regarding the Licensing a development project in Cambodia?Ms. Socheata said that “buyers should ask for more information before deciding to buy a condo and seriously consider whether this project has gotten a legal license from the ministry.”She added that “if the condo and borey project is licensed, it is a really good condition for buyers because licensed projects are guaranteed to be safe for buyers. And if there is conflict, the ministry is also easy to reach for a suitable solution for both parties.”For instance, Socheata notes, there are some buyers who don’t want to pay money to the Borey 999.  Even if this is the issue of the individual, it will affect this licensed project as a whole. So, the committee of the ministry is allowed to help by going to the root cause of the problem and negotiate with the company to get the project owner negotiating with the buyer.Condo and Borey Buyers need to be aware that buying from a licensed project guarantees that:The Ministry has checked whether the condo or borey development has a clear and strong source of income, capital, collateral, land title, and other assets that support their project, especially because project owners need to make a business plan to present to the ministry. The ministry will check whether it’s a good business, and if it can be successful in the future or not.The ministry also often researches the sales strategy of the project, because sometimes a project’s owner does not do an in-depth market analysis with the surrounding market.To obtain the license, the project development company must to have 2% of the total capital deposited in the bank of Cambodia or any commercial bank in Cambodia. Even though this deposit money is a small amount, it shows that the development has its capital. “And it also causes the customer to trust the project too,” Socheata added.   Socheata concludes by saying that “all project developers have to get a license from the Ministry of Economy and Finance. And this is something that any buyer should seriously consider before buying residential properties off plan, whether condo or borey. Keep in mind to ask whether that project has got a license in order to protect your own benefit and not waste money with unnecessary trouble.”Check out the latest Boreys and New Developments on Realestate.com.kh today!

The successful sale of the Oknha Peich Boutique Hotel on 18 February 2016 - prior to construction completion - serves as a celebratory and momentous milestone for Kingsland Global, and the company's Cambodian arm. Slated to be completed in the 2nd quarter of 2017, the hotel was sold to Vivaz Holdings Pte Ltd at US$13.4 million.This early sale is not only an exciting but significant achievement for Kingsland Global, which signifies the company’s firm belief in producing quality projects and moving further into frontier markets.Managing Director Mr. Jeremiah Lee said, "As we align our future plans to fit into Cambodia's changing landscape, we look forward to realizing this exciting opportunity to deliver our standards of excellence and quality to Phnom Penh’s community and the citizens of Cambodia. We look forward to making larger steps with our partners and associates, making Kingsland a leading developer in Cambodia over the ensuing years.”The project is currently in its fitting out phase as it works towards the completion of the 13-storey, 88-room luxurious boutique hotel that the Oknha Peich Boutique Hotel sets out to be. As the project gradually nears its completion date, Kingsland Global is looking forward to every subsequent success and future opportunity that will sharpen and refine its repertoire with the undertaking of every project. Another upcoming iconic development, One18 Residences, is a luxurious 24-storey apartment providing quality living and hotel-like amenities right in the heart of Phnom Penh city. Look forward to a first-class residential experience like none other when the project is completed.For more info on Kingsland in Cambodia, please get in touch with Kingsland (KH); (Address) No. 34 Street 200, Boeung Riang, Duan Penh, Phnom Penh, Cambodia (Tel) +855 77 3399 20, (Fax)+855 23 2217 07/08 or Kingsland Global Headquarters (Singapore); (Tel) +65 6362 8998, (Fax)+65 6363 7031; or email info@kingslandglobal.sg

There are many modern residential homes in Phnom Penh city, whether they are villas, boreys or condominiums. But looking at the different types of properties, it is apparent developers are increasingly interested in building high-rise condominiums that are suitable with the local standards of living and are marketed at this group of buyers, particularly the young and modern Khmer families.Find out more about new developments on Realestate.com.khBut what do the local Cambodian buyers think about living in a Condominium? In terms of the standard of living in Cambodia, the concept of high-rise residential units has already become a trend. As Mr. Vorn Chan Thorn, CEO of Town City, puts it: "If we have sufficient financing and want to have a monthly income, we can buy a condominium in the city for leasing because it is convenient and brings in a fixed monthly income of about $ 1,500." Many people today are also changing the way they think about the standard of living, where comfort and privacy are held in high regard. These are things that those who buy a condominium need, according to businessman Pin Pisey. He says, "I bought a condo a year ago near Sansam Kosal Pagoda. I bought it with a bank loan, and I wasn’t interested in buying it for resale. I like the atmosphere of living like this, it has security and privacy."Condominiums are also now adapting quickly with a more modern and younger generation. Mr. Ros Chesdathepadey says that he’s lived in a condo and just bought a new unit at D' Seaview at Sihanoukville. He adds, "I’ve lived in the Rose Condo approximately 2 years and living with safety, good environment and in the center of town - it is private and there are various services together in condominiums, such as: shopping malls, gyms and swimming pools, all the service in condo very convenient"In contrast, Mr. Mao Sambath said, “I think that condominiums are very nice and offers a modern way of living. However, it is not fit for the Cambodian lifestyle yet. I will not buy a condominium because most of the developers are not trustworthy. Most of the time, they don’t own the land and they use the customer’s money to construct the building. What if the sales aren’t as good as expected? The project would stay still. And who likes a 99-year plan? We need assets for the future generation. Who would not love living life in the heart of the city, above everyone? But condominiums aren’t good investments yet for Cambodians. There are many lands and houses available. I’d rather buy a house and then decorate it nicely. I would not buy a condominium and then worry for the rest of my life about the future of the building, the quality of the building, and all the hidden costs for monthly services.”It seems like there’s a shift happening for the way of life of the locals, and foreigners who come to work or live in the country."The number of housing purchases and loans for condos are more noticeable for both domestic and foreign guests. Locals think it’ easier to live in these types of properties in particular because it’s in or near the center of the city. Foreigners buy them for investment and for residential use", said Heng Sreyneang, the Housing Loan Officer at Canadia Bank.“The Borey Villa Toul Sangke condo project’s concept is focused on helping locals change their standard of living from traditional to a more modern one. It also aims to provide comfort. This residential property is exactly that. It brings a high standard of living.” This is according to Mr. Andy Kong, the general manager of the Borey Villa Sangke company.As a newly-released Century 21 record says there is a total of 110 condo projects with 148 individual buildings, both finished and ongoing, or around 37,570 units slated through to 2020. Will the local market grab the chance to live in these new style of homes? Time will only tell.Find out more about new developments on Realestate.com.kh

Cambodia has been seeing more and more businesses enter the country’s growing economic sphere. This comes as a result of the country’s increasing capacity to entertain an even more dynamic business structure. Specifically, office spaces have been thriving in the property market of late and are one of the aspects that investors have taken great interest in. Chairman of Phnom Penh BG Serviced Offices, Mr. Anthony Galliano, spoke about the current and upcoming trends for office space in Phnom Penh during a recent interview with realestate.com.kh.Is there a need for more office space in Phnom Penh?Grade A office space in Phnom Penh:Having an an impressive run during the first quarter of 2016, Galliano refers to the needs for specific grades of office spaces and confirms that there is a lesser demand for Grade A office properties right now. When asked about it, Galliano comments, “perhaps not A, but for certainly B and C grade, there’s demand out there” - because they are inexpensive alternatives that do not sacrifice much in terms of a company’s specific requirements.Grades B and C office space in Phnom Penh:While both are certainly lower classifications, Grades B and C remain more popular options within Phnom Penh – especially in the central region – because of geographic factors and the availability of this grade of office space, Galliano says. He explains that “there’s certainly office space more on the outskirts of town which is cheaper, but people really prefer to be within the town.” So, prices vary greatly on location.Will the specific needs be addressed for the office space in Phnom Penh market?Galliano is certainly optimistic for office space rentals in the coming years. As the demand rises, the supply will surely follow as well. This is also something that is held on to by Lim Pusithavrith, the leasing management officer of Vattanac Tower. Pusithavrith says that the target occupancy rate of developers for the office space market is at 80 percent, just a few more percent value away from the current 74.4 per cent. And with five more Grade B and Grade C office buildings rising soon, this target does not seem too impossible to reach and even exceed.Investors may want to think of inquiring about possible office spaces they can rent out for additional business income, as long as these spaces are centrally located. However, shortly, they may find themselves looking at properties on the outskirts of Phnom Penh if they need to keep costs down.Find office space in Phnom Penh for rent now!Find office space in Phnom Penh for sale now!

Policies, construction, infrastructure, and population: These have all played an important role in the stages of growth in Phnom Penh. Having been resilient to extreme pressure in the past decade, the city has made for itself a society and an economy that is now conducive for progress.But of course, all success stories share a page in their book with struggles and difficulties. This is exactly what CEO of Cambodian Investment Management, Mr. Anthony Galliano, has pointed out in his interview with realestate.com.kh about how Cambodia has evolved and about what current issues it will have to address in order to move forward in the next few years.In an anecdotal account shared by Galliano, he shares that it was very different a few years back when he arrived in the country. He states that “there was no Canadia Tower, there was no Vattanac Tower” and the country was largely only known to the outside world for the temples of Angkor Wat. But since then, Phnom Penh has sort of reinvented itself into a place that is extremely welcoming to foreigners, building upon the architectural and structural remains of its history. For example, currently 4,017 serviced apartment units make up the body of the capital city and this is continuing to grow. This is far from the less than one thousand units that were available back in 2009. And different types of developments have also been built during this period. Galliano says, “From 2008 till now, it’s just been incredible.” But he also warns that this is also scary for several reasons.Population:While there has been a surge of construction projects for both commercial and residential spaces, Galliano states that the lack of sustainable growth in the Phnom Penh population might soon cause an imbalance in the market and cause an oversupply. It is also important to understand that unlike in Jakarta and Thailand where people flock towards the bigger cities for opportunities, Phnom Penh does not have that component. At least, not yet. Income Status:Even with the recent announcement of the World Bank that Cambodia is now a lower middle class income status economy, Galliano explains that it may still not be enough for these lower middle-class workers to afford the types of developments that have been and are currently being built in the city. He adds that an unabated expectation of these concepts make it even more dangerous for the city in the next couple of years after 2016.Credit:Since the city started growing, enforcement has been stricter, but a few things have also become laxer such as the availability of credit. But Galliano clarifies that the scale of credit growth is something that has already been recognized and being addressed by the National Bank of Cambodia. He says that though credit is freely available, it is still “not to the extent of other markets.”Addressing the Concern:In conclusion, Galliano states that effective urban planning and intentional targeting of issues such as traffic through the construction of infrastructures will greatly alleviate and offset these concerns. Should these hurdles be overcome by both the market and the government, then Phnom Penh will continue to reap the benefits in the future. If not, there may be troubled times for the economy ahead. Invest wisely, and know the Cambodian market inside-out with our in depth investor guides.

According to a recent August 5th 2016 “Reminder Notification from the General Department of Taxation to Property Owners to Comply with Prakas No. 493 SHV. BrK concerning Property Tax Collection” all property owners in Cambodia need to be aware of their annual property tax obligation. The reminder states that payment for annual property tax is due no later than 30th September, 2016. Anthony Galliano, ceo of Cambodia Investment Management, notes that, “Although the obligation for all property owners to make an annual payment of property tax was reinforced since Prakas  NO. 493, dated 19th July, 2010, there is still a degree of non-compliance and outright avoidance. Being a non-corporate tax, this is one of the very few direct personal taxes, and the average Khmer remains reluctant, making enforcement within the general population much more complicated.” Nevertheless, the tax should be paid, and non-compliance is increasingly being punished. In the “Reminder Notification” the GDT notes it has observed that some property owners have failed to comply with this annual tax obligation and the GDT encourages those property owners to pay the property tax by the approaching deadline. Failure to do so in punishable by law. Learn more about Cambodia property tax today on Realestate.com.kh!

Fourteen years had passed since the Royal Railway in Cambodia ceased operations for passenger services between Phnom Penh and Sihanoukville due to deteriorating facilities and financial losses, only to resurface onto the radar once more when the company reopened in 2013 for freight services. The railway however has reentered the public consciousness again lately having announced earlier this year that they would be holding a grand reopening and resuming its passenger services between Phnom Penh and Sihanoukville during the Khmer New Year. Now, a few months has passed and reports regarding the new passenger services have been largely positive.Why Now?Though operations for this route only stated last April, the actual rehabilitation program has been underway for years now, with the ADB and the AusAID funding the restoration and the upgrades, the government of Cambodia having outsourced the operations of the railway back in 2009 for an exclusive concession that would last 30 years for Toll Royal Railway. The project’s estimated cost at that time, two years ago, reached up to $143 million. And while the south line from Phnom Penh to the beach town of Sihanoukville has already been completed, other projects under that funding such as the northern line connecting to Thailand at the Poipet border is also nearing completion. Here the tracks at Poipet are expected to connect the Kingdom of Cambodia to Thailand by rail by the end of 2017 - in order to improve both tourism and trade between the two countries, and raise Poipet’s capabilities as a logistics and trade hub.An Inexpensive Alternative for Travellers and Commuters:More expensive than taking a regular bus at $4 and just a bit cheaper than an air-conditioned van at $12, an advantage of riding a train removes the element of traffic from the equation, slashing out an hour or two than it normally would to reach Takeo, Kampot, Kep, and Sihanoukville. It also costs less than a regular flight which can cost up to $140. Given the current traffic situation on the national roads 3 and 4 toward Sihanoukville, generally busy with trucks moving freight to and from the Sihanoukville port, the railway offers a comparatively safe alternative to road travel. According to an article released by The Guardian last June, a one-way ticket between Phnom Penh and Sihanoukville will only cost $7, while a $6 ticket will get you from the capital city to Kampot. These prices do not seem to have changed as of yet.Capacity:Five carriages have been restored and reupholstered to accommodate around 300 people. Two of these are air-conditioned carriages that can accommodate up to 170 people will run under the “blue line;” the other two carriages, which can accommodate 130 people, have fans built into them and will run under the “yellow line”. The last carriage is intended for travelers who may require a more privacy. The air-conditioned cars will travel towards Sihanoukville during odd days and return on even days, while the carriages fitted with fans will run on a schedule opposite to that.Running on a Schedule:According to the Royal Railway website, train operation runs every weekend, even on public holidays. They have also set up an office in Phnom Penh in the hopes of increasing sales for all destinations. Their office, Central Railway Station, Sangkat Sras Chork, Daun Penh, Phnom Penh, is open from 8:00am to 4:30pm on weekdays and 6:00am to 12:00 noon every weekend. For more information on train departure, arrival, pricing, and booking, you can contact Royal Railway at 078 888 582 or 078 888 583 or send them a message through their contact form.Learn more about transportation services in Cambodia in our in-depth location profiles!

Whether you are looking for your dream home or buying a property for investment, the place to be is at the CAMBODIA PROPERTY & INVESTMENT EXPO ’16. It is where the latest commercial, industrial and residential properties from top developers are showcased. What’s more, you can get the best deals as there will be special discounts and free gifts offered only at the Expo. Make sure you drop by at the Diamond Island Exhibition & Convention Centre, Koh Pich, from 8-10 September 2016 for the Biggest Property Show of the Year! When you are at the Expo, you can also visit CAMBUILD’16 – Cambodia’s Biggest International Building, Construction and Interior Décor Show for the latest building and interior design products. See the full list of property developments on show at this year's expo and find out how you can join this years event!

August 29 2016, Phnom Penh - Sino Plaza VVIP Launch is underway at the showroom on Monivong Boulevard! Hundreds of guests joined to witness the VVIP Launch of sales for the long anticipated Sino Plaza condo launch.The Sino Plaza VVIP Launch is open from 8am-8pm tonight. Special offers are available for buyers who join today’s event! ALL ARE WELCOME!Buyers of any unit TODAY will receive a free 50 inch Toshiba TV, and a 2% discount on the total payment sum.Buyers who sign TODAY or in the NEXT 2 WEEKS will receive a VVIP 2% discount on the total payment sum.Sino Plaza’s 4 towers will rise to a height of 45-storeys each, located in the south of Phnom Penh city near Beoung Trabek Plaza, Sangkat Beoung Trabek. The project started construction in early 2015, and now all foundations are complete, with around $15 million already invested. The total project of Sino Plaza is worth more than $200 million and will be entirely finished, ready for occupancy in 2018.This project is a venture of Cambodian Natural Lucky Real Estate Development Co. Ltd, wholly owned by CYTS (China Youth Travel Services) from Hong Kong and China.INQUIRE TODAY TO FIND OUT MORE!

The Phnom Penh serviced offices market is a relatively new real estate market in Cambodia that has made a huge impact on the local business sphere since units started to become available in Phnom Penh a few years ago.Mr. Anthony Galliano – Chairman of BG Serviced Offices in Phnom Penh – recollects from his experience in Cambodia that before 2012, serviced offices was almost a non-existent industry.Galliano explains, “I think, conceptually, the market took its time to understand the model. But it’s been a fantastic business.” He continues to say that serviced offices are now an established business model in Phnom Penh, with many different operators across town.The All-in-one Solution:One of the qualities that have made Phnom Penh serviced offices popular is the convenience of not having to bring in all the tools for business - instead, they are already waiting for you. This is particularly useful for new foreign owned business ventures, especially the small scale, looking to test the Cambodian market without all of the hassle of transporting an entire business abroad.Galliano says that the good thing about set-ups like these is that you’re not just paying for the space. You’re paying for that space and everything in it.But of course, depending on the office grade, different things will be included.The Variations:Galliano details that you can currently rent Phnom Penh serviced offices from the 10 to 46 square meter range and it will only cost you around $25 to $28 per square meter a month. If you are a startup and just need a small office, the 10 square meter unit should be enough for a two-man staff set-up. But prices can still vary depending on which office grade you opt for. Currently, there are a lot of C-grade serviced offices around Phnom Penh.Galliano explains that this is because A-grade offices initially had very high rental prices compared to local norms. But because landlords have come to their senses and gave more realistic rental rates, it’s now seeing an increase in demand.He adds that B-grade offices fill up really quickly now too because it’s better quality than C but still affordable. Another reason for the B grade popularity is because the supply is not as large as C-grade offices, says Galliano.As evidence of this growth in higher grade offices, Regis will be doing higher scale and higher quality serviced offices to take advantage of the growing demand.As a precaution though, Galliano warns that C-grade offices are okay, but you have to look for the right landlord and be able to discuss terms with them. Since this is a lower grade office, landlords tend to be less generous and attentive.Renting Versus Owning:When asked about the developments who are now targeting office strata titles to be able to offer office ownership opportunities for locals and foreign investors, Galliano says that it’s a strange concept because it may not serve the best interest of business owners.He explains that this may cause difficulties in transferring from one office space to another, especially for an expansion or merger. He states, “You don’t want to be stuck owning an asset that you have to pay for,” because it will only bring you additional business costs. He clarifies though that while it may have some potential, right now the economics of this offer just doesn’t make sense to him.No matter the case, there is a clear expectation of continued growth for the office sector in the next couple of years as Phnom Penh continues to attract new business venture from abroad.Find out the latest Commercial space outlook in Knight Frank’s H12016 report!

In their abstract for a paper entitled “Infrastructure Development and Real Estate Values in Meru County, Kenya”, authors Mbaya Murungi and James Gatauwa describe infrastructure as an element that directly affects property value. The ease, convenience, and accessibility these infrastructural developments bring plays a key factor in how properties are sold, anywhere in the world.If this relationship is true, then this should predestine Cambodia’s future real estate growth and can suggest an increasingly positive outlook for buyers getting in the market now. As investors flock towards the nation and its growing economy, newer infrastructures also continue to quite-literally rise from the ground to help both sides of the economic spectrum, the wealthy international investor and the local populous. And while these new amenities will add costs for both purchasers and renters, it will also provide ease and comfort for people moving into different regions of the country.  Phnom Penh International Airport Expansion:Property Report, in their recent article, states their case in showing the correlation between airports and rising real estate prices. They mention a growing interest by wealthy investors with properties located nearby international bound airports, thereby increasing sales of prime developments in the area.As such, a $23 million expansion of the Phnom Penh International Airport by a Malaysian company in 2015 drew an enthusiastic reaction as it was expected to bring in more tourists and more wealthy investors. This was however short-lived as the announcement that the project was halted began to make its rounds, along with news of demonstrations that were being held by neighboring residents of the PPIA. In response to this, soon came news from the Senior Government Minister regarding plans for a totally new airport near the city outskirts. If the plans push through, the government’s target date of completion would be 2025. With this new airport, the government also seems to be considering mass transportation systems upgrades to fast track those travelling to and from the airport into the city.In line with this, new types of multiple entry tourist and business visas are set to come into effect on September 1 2016, easing entry requirements greatly for regional investors and retirees.Completion of Railway to Poipet:Hosting a Thai-Cambodian border in its area, Poipet has long been a transition town where cargo and travelers pass. But delays in this small gateway town have traditionally plagued logistics and trade inefficiencies.One solution that has been put forward and is now nearly within reach is a new railway system that will connect Phnom Penh and Poipet. This new system is expected to allow much more direct access to Bangkok from Phnom Penh and vice versa. With only 6 more kilometers of tracks needed, completion is expected at the end of 2016.In addition to this, Sihanoukville is also expected to experience a boost of trade and tourism through the reopening of the passenger railways that connect it to Phnom Penh.Sihanoukville Port Development: Other than the over-arching improvements currently being implemented in the humble beach town of Sihanoukville, a great deal of work has also been put into the expansion of its port area.Having the only deep sea port in the country, particular emphasis has been made to ensure that it is able to accommodate sufficient trade and transactions. The expansion and functionality upgrades throughout the years has brought many business owners huge benefits and is the overriding factor that is drawing new foreign direct investment into the province. The Sihanoukville Port Multi-purpose Terminal Development project alone, which Japan has helped fund, will cost around $75 million and is estimated to be completed by the end of 2017. The end goal for Sihanoukville Port is that full size cargo vessels will be able to port at Sihanoukville, making long haul import and export around the world less costly and faster. Currently, Sihanoukville can only harbor feeder vessels that would then need to travel to ports such as Hong Kong, Singapore and other regional post in order to transfer containers onto the larger long haul vessels. In the future, full size haulers will be able to travel direct to worldwide destinations.Roads and Transport:With the growing population of Cambodia and particularly Phnom Penh, accessibility and traffic definitely play a big role in the values of residential and commercial properties.So, news of Japan donating 140 new buses, valued at over $10 million, was received well by the Phnom Penh working class. These units are expected to service the citizens much more efficiently by 2020 as bus lines are set to continue to increase yearly. Currently there are 10 lines across Phnom Penh. The regional road systems of Cambodia are also expected to experience changes in the next few years. China – through the firm Henan Provincial Communications Planning, Survey, and Design Institute – will develop an expressway along National Road 4 (Phnom Penh to Sihanoukville) after the go signal was given for the China Road and Bridge Corporation to push through with a proposed highway project recently.This comes at a time when Sihanoukville is under a period of growth and developmental changes; and, as anyone that has travelled to the beach town by road will know, a wider, direct highway will benefit this growth hugely.In addition to this, National Road 5 is also expected to strengthen the efficiency of trade with Thailand through a recent grant from Japan.Learn more about Cambodia in our extensive location profiles!

Cambodia is fast becoming a world-leading destination for tourists who want to experience a new frontier on the global tourism stage. And why not? Cambodia has a rich and diverse cultural history; it is full of natural wonders and untouched beaches; and as the Kingdom’s economy grows, Cambodia is offering travelers more and more luxury options to make their stay even more special. In fact, according to TripAdvisor.com’s “Travelers Choice Awards 2015”Cambodia was the 2nd most popular tourism destination in the world.As of 2016, Cambodia has about 500 hotels of note, but only around 30 of these hotels have 100 or more rooms - and just six or seven of these venues offer international standards of hospitality services and execution. In this domain, the SOKHA Group is leading the way across the nation... SOKHA Group has a wealth of experience in tourism and hospitality in Cambodia, with their network of 5 star offerings across the Kingdom: Sokha Beach Resort – Sihanouk Ville; Sokha Angkor Resort - Siem Reap; Thansor Bokor Highland Resort – Kampot; Sokha Phnom Penh Hotel & Residence - Chroy Changvar Peninsular, Phnom Penh and Sokha Siem Reap Resort & Convention that going to open in mid of September 2016. Sokha Phnom Penh Hotel & Residence is the premier luxury residential experience in Cambodia’s Capital city. Whether you want to stay 2 days or 2 years, by selecting Sokha, you are guaranteed the best that Cambodia has to offer every day. Sokha Phnom Penh Hotel & Residence, which completed construction in 2015, consists of 18 floors with 549 units of hotel rooms and 195 units of residential suites (service apartments). Rising high above the shores of the Mekong and Bassac rivers, Sokha Phnom Penh Hotel & Residence is host to the most prestigious luxury living standard, events, business conferences or expos, and a popular choice for fine dining among the local elite.Sokha Phnom Penh Hotel & Residence offers unmatched views of the Mekong River and famous Royal Palace, and a quality of environment impossible to find in the popular inner-city districts. For those who are looking for working stays at the Sokha Phnom Penh Hotel & Residence, you are just minutes from the central business district of the city. Other perks for business guests include a meeting room for international conferences, high speed internet access and taxi services to and from the central city. All 195 residential units have classy polished timber floors and all amenities for your convenience included. The Bassac Suites (52 sqm/560 sqf) are exclusively designed as studio suites, fit for a quiet and relaxing stay. The Tonle Sap Suite (90 sqm/969 sqf) is a 1 bedroom suite with additional space, combining comfort, privacy and a place to call home. The Mekong Suite (104 sqm/1,119 sqf) has 2 bedrooms with highly customized and graceful furniture included, a premium choice of luxury living for both family and long stay business travelers. The suites feature distinctive, breathtaking views of the Great Mekong, Tonle Sap and panoramic view of Phnom Penh. Like swimming? At Sokha Phnom Penh Hotel & Residence you can get your fitness fix, with a huge 1,650 sqm/17,760 sqf outdoor swimming pool. Residents are able to access to gym, the luxurious healthy spa, steam, sauna, and jacuzzi. A comfort package is also available for residents with complimentary electricity and huge underground parking lots. Each room is connected with wireless internet access, fully furnished with full-sized fridge, washing/drying machine, modern kitchen full-equipped appliances, and multi-channel 47 inch LCD TV at the separate living room and dining area.Residents can also get complimentary usage of the hotel Business Centre at the lobby and the BBQ Pavilion Space on Surkea Rooftop (Open Space for Dining /Party /Landscape Deck). And enjoy the international restaurants that serves food from around the world (Chinese, Japanese, Asian, Western, Italian…). Like to party after work? The Wave Club on 19th Floor and Stardust Karaoke below the hotel is ready for you, any time from noon. With 5 star hospitality service, round-the-clock security surveillance, 24 hours room service, housekeeping, linen (bedding and toweling) and daily shuttle bus service from the hotel to Aeon Shopping Mall, guests are able to relax and enjoy with their stay while the Sokha staff take care of almost everything. Of course, the concierge services are ready to help with any need you might have, day or night.Find out more about Sokha Phnom Penh Hotel & Residence and make your stay in Phnom Penh unforgettable!