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!

Cambodia has seen a significant rise in its economic value throughout the past decade, but there is a potential threat that it has to watch out for. Negative interest rates are looming to enter Asian countries and are slowly creeping in from the European and Japanese economic policies and implementations from central banks.  This, Sing Capital’s Chief Executive Officer Alfred Chia, explains is a concept taken from the Swiss government when it was fending off a crisis back in 1970. This was a statement he made during the Inaugural Cambodia Property Show held in Singapore this year.What is a Negative Interest Rate?Negative would seem like an odd usage when used in combination with the term “interest rate.” But this has been a concept embraced by countries whose economies are coming into a desperate state. Chia explains the concept as something that goes against what we’ve been taught. Whereas banks are supposed to pay us an interest when we decide to put a deposit, the concept of negative interest rates works the other way around. Banks actually charge you the interest for putting money in their care.This should come as no surprise, but it is definitely an “unconventional” concept, according to Chia. Probably something that we usually take for granted is that banks are still business entities and still have to earn.Why are more countries adopting Negative Interest Rates?He continues to state that there are five main factors affecting why more and more countries are slowly adopting this unusual concept. These factors are Global GDP, China-economy affects, oil & commodities, currency, and interest rates; and these are all interconnected.Since there is a downturn in the global economy right now, we find that countries like China are slowly experiencing the effects through the apparitions of its ghost towns which were once vibrant communities for industrial workers and their families. Having said this, we also see the appreciation and depreciation of major currencies like the US dollar which serves as Cambodia’s main currency.How might this affect Cambodia?What will most likely affect the growth of Cambodia is either the strengthening or weakening of the US dollar, and the Chinese business behavior during this time since the Chinese are also one of the major investors in Cambodia.Though perceived to be signs of a struggle, the aim of negative interest rates is to force banks, businesses and individuals to be creative with how they can make their money grow. Banks seem to have found a means through lending out.And, according to Chia, banks have seemed to found a sort of reprieve through the property market. He uses Japan as an example where its people are able to loan up to 100 percent of the property value at just a 1 percent per annum interest rate. With proper valuation, lending out lessens the risk for them because even if the loan is not paid back, they still have the property itself to fall back on.Should this concept apply for Cambodia, banks may actually be able to profit more due to the booming real estate industry.Learn more about the Cambodia investment climate!

On this Saturday 27 August 2016, JCI Cambodia will hold the International Business Exhibition and JCI Entrepreneurs Forum at the Sokha Phnom Penh Hotel from 8am.Realestate.com.kh is extremely proud to be sponsor for this year's event! Alongside its business exhibition, JCI has also prepared a series of talks which will feature distinguished speakers and experts from the areas of Food & Beverage, Real Estate, and Organic Agriculture products. Although speaking about different sectors, the discussion will center on one key topic, “Key Success and Investment Opportunity in Real Estate, Food & Beverage, and Organic Products in Cambodia”. This topics will be divided into two parts, morning and afternoon. For discussing on food and drinks sector, and agriculture sector, there are 4 speakers such as: Kouch Sokly president President of Cambodia Restaurant Association, Dr. Tan Monivann – VP of Mong Reththy Group Co., Ltd. Mr. Chang Bunleang – Operations Manager and Co-founder of Brown Coffee, Mr. Neak Tharen – Board of Directors of Cambodian Organic Agriculture Association and CEO of Natural Garden and facilitated and Moderators by young entrepreneurs Ms. Dek Dary – National VP of JCI Cambodia, Managing Partner at 360 Event Management, and Mr. Khorn Chhundara– CEO of KOI Café Cambodia.Discussions in the afternoon turn to speakers from the real estate sector such as: Mr. Kim Heang – President of Cambodian Valuers and Estate Agents Association (CVEA), Mr. Harry Martin IV, the sales and marketing manager of Worldbridge Cambodia, Mr. Kenn Yeo – General Manager of Orkide Villa Condominium (Mall & Condominium Project), and coordinated by HE Sok Siphana –  President of Sok Siphana law firm and  government adviser.In 2016, we expect participants Entrepreneurs Forum, there are guest 250 to 300, with regular ticket price is $50 and $40 for members JCI YEAC, CIC, BNI, CWEA, CVEA and CRA.For interested participants, you can contact: Tel: 017 59 46 19 or email:  sothearak2510@gmail.com / jci.phnompenh@gmail.com

Phnom Penh, 23 August 2016 - SHUKAKU INC. signs MOU with the DON BOSCO Foundation in order to equip young Cambodians with the skills to build the Cambodian of tomorrow.Under this partnership, the Phnom Penh- based Real Estate Company and the master developer of the Phnom Penh City Center (PPCC) will grant scholarships to 20 students from the Don Bosco Technical School over two years tuition, and sponsor a brand new computer lab at the Don Bosco campus.The Memorandum of Understanding (MOU) with the Don Bosco Foundation will pave the way for a two-year partnership worth more than $69,000.The Don Bosco school is an educational non-profit organization that provides free vocational training to young Cambodians from disadvantaged backgrounds.Roel Soto, Country Representative of the Don Bosco Foundation, said: “We are grateful to Shukaku Inc. for aiding us in our efforts to fight social exclusion through practical education and skill building.”He added, “These scholarships will equip young Cambodians with real-life-proof technical skills and knowledge, crucial learning and development, all of which will enable us to build the Cambodia of tomorrow, today.”The company will also sponsor a brand new computer lab comprising of more than thirty computers at the Don Bosco campus. This is another effort that is part of Shukaku’s commitment to enhance IT literacy across Cambodia and provide a conducive learning environment for the students of Don Bosco. Michelle Lau, Executive Director of Shukaku Inc., said, “This signing is only the beginning of what we hope will be a fruitful and long-term partnership with the Don Bosco Foundation. I continue to be truly inspired by Don Bosco’ s core values of inclusiveness, generosity and excellence - and I trust our relationship will strengthen over the years as we find more opportunities to help Cambodians unleash the full potential of Cambodia.” Ms. Lau also underlined that this partnership is only “the first of many to come.” Under Shukaku’s new “Sustainable Growth Initiative,” the company’s comprehensive community engagement and empowerment program will aim at making a tangible contribution to the communities in which it operates. The program will help build a collective vision to a future of share prosperity through various and long-term income –generation initiatives. Learn more about Shukaku's Phnom Penh City Center project today!

Even with the constant year-on-year 7 percent GDP growth of Cambodia and the boom of construction development across the nation, many investors still seem to be intimidated by the country and are hesitant when investing in Cambodia property.There is a perception that investing in Cambodia might cause certain conflicts or complications, if not immediately, but down the line. Guillaume Massin expressed a different opinion in his presentation at the Inaugural Cambodia Property Show in Singapore, organized by Realestate.com.kh and PropertyGuru Singapore. Massin is the managing director & partner of DFDL Cambodia.Massin states that Cambodia made a choice to build its legal framework before it was fully ready for implementation. Now, the country is still continuing to develop and enact the rules and regulations put in place years ago.This started in 2003 when the government developed hundreds of new laws. Thus far around two-thirds of these laws have been implemented, says Massin.This, of course, includes policies concerning civil procedure codes, criminal codes, and a court system. Although “it’s [still] getting there,” Massin states that it is now more developed and systems are now more transparent than ever before.Improvements very relevant to Singaporean investors include a double taxation treaty between Singapore and Cambodia where there will be a 10% cap on tax for foreigners investing in Cambodia. And this can be advantageous since the tax usually goes up to 14%.Another advantage that was brought about by these changes include the investors in the industrial sector being able to register their companies and seek government incentives. “Qualified” projects, with necessary licenses, will be able to get a tax holiday which can last up to 9 years.When investing in Cambodia, it is also important to note you must choose to engage with developers with a valid license for their project. This is important because when something goes wrong, your properties and assets are only protected by the law if the license is valid. Massin states that these licenses can and should be verified through registered legal counsels.Massin also says that despite some restrictions, investing in Cambodia is still a good idea because it remains a very open economy and a flexible market. You can even incorporate your company in two to three weeks, provided you show residency requirements. Massin also notes the flexibility of the strata titles.Probably the biggest restriction when investing in Cambodia is that foreign investors are not able to buy land. Although, he says that long-term leases can also be utilized as a workaround for these types of investments, and are well tested.He advises that there are two more ways by which an international investor can enter the land and landed properties market. Either purchase through a Cambodian national or through establishing a Cambodian company where the majority shareholder is a Cambodian national. Massin says to use the latter rather than the former, if given the option.The presentation closed with Massin reminding investors considering investing in Cambodia about what documents to ensure you have before proceeding with development or property investment projects.For one, you have to do a property background check. You have to have the title inspected by a lawyer as they are the only ones authorized to do that. Second is to check if the licenses are in place and valid. This includes the license of the developer. Lastly, you have to check the necessary documentations such as the letter of intent and the sale and purchase agreement.“There are still some efforts to be made, there are still some projects to be implemented in terms of legal development, but definitely, it’s on track,” concludes Massin.This is the emphasis of Massin’s presentation: While there are plenty of things that are still not in order, there is are many things to be optimistic about and opportunities that have long past in other markets.  Find out more about foreign ownership in Cambodia now!

Being the first residential project of the HLH Group in the country that is outside the realm of agriculture, D’Seaview project by the company’s residential project entity – Camhomes – has embraced great success since its introduction last year. Currently, more than 51 percent of the 737 residential units in the D'Seaview mixed-use development had been sold and the piling work has already achieved a hundred percent completion since the 18th of July, 2016. Deferred Payment Scheme: You will now be able to pay for a unit by giving 30 percent down payment first, then deferring the other 70 percent to only at the completion of the unit. This entails an absorbed fit out cost of approximately 5 percent of the purchase price and a guaranteed rental return of 30 percent over 3 years at 10 percent per year. Initially, a down payment of 5 percent is required. This is then followed by a 25 percent payment which is due upon signing the sales and purchase agreement, along with the guaranteed rental return side letter. The remaining 70 percent will be given once the unit is handed over. Installment Scheme:  To further enhance the choices to interest buyers, one can also purchase a unit from D’Seaview through the new revolutionary way, via a 5 years installment plan. This gives buyer the added benefits of having 0 percent interest, 100 percent installment for 60 months, and has 0$ down payment. Only a selected limited number of residential units in D’Seaview qualifies for this type of payment scheme, therefore it is while stock last basis. Getting a residential unit with high-class amenities and a beautiful view of the beach has never been easier. See the full listing and Inquire today!

Phnom Penh is a relatively small area that is marked with varying subcultures. This is one of the things that gives the capital city its unique spirit and dynamic lifestyle.And according to Chairman of Cambodian Investment Management, Anthony Galliano, the merging of ideologies, structures, and tradition is best observed through the properties along the Phnom Penh Riverside.There are a number of things you can see and do in this area, and Galliano lists a few of them during his recent interview on Realestate.com.khTV.Stunning Scenery:Imagine the reflection of the sun in the river as it sets, all the little boats just passing by your view from the window. That is exactly the picture Galliano paints for the Riverside area.Living here means that you will be able to bask in the rays of the golden sun and just absorb all the beautiful sights around you - which includes the rivers of Mekong, Tonle Sap, and Bassac rivers. You can also see diverse architecture and a landscape that had been influenced by different time periods.But wherever in the Riverside area you go, you are guaranteed to see something eye-catching.Festive Occasions:People say that you can tell a lot about a place and its people through the types of festivals they celebrate. And Phnom Penh’s Riverside surely does not have a shortage of festivities.Galliano explains that you have a pretty good vantage point you can utilize if you live in the area because you’re right in the middle of all the celebrations. But probably one of the best festivals in Cambodia you will be able to attend is the Water and Moon Festival, otherwise known as Bonn Om Touk, which ushers in and welcomes the fishing season. During this time, you can also opt to watch the annual boat race which is the festival’s main attraction.Convenient Location:The Phnom Penh Riverside area is conveniently located near the central business district of the capital city. This makes it relatively easy for workers and even families to move around Phnom Penh without having to worry about the increasingly congested traffic situation there. It is also close to facilities such as hospitals, schools, and grocery stores. Residents can testify that once you move into this part of Cambodia, there is little that you need to ask for. Everything you might need is there.Scrumptious Food:Because this area is also home to a growing number of expatriates, there are also plenty of restaurants to serve dishes which originated or are derived from Germany, Italy, France, Canada, America, Korea, China, Japan, and even Australia. So, choosing food will no longer be a problem as there is a wide range available.  The Phnom Penh Riverside area is definitely one of the best places to live in Phnom Penh. Having been well-developed throughout the years, you’re assured all you need to live comfortably here alone or with your family. Learn more about the perks of living Phnom Penh Riverside in another in depth Realestate.com .khTV report!

On August 20th from 8:00am to 5:00pm, the Cambodian Valuers  and Estate Agents Association (CVEA) will organize a forum to update and inform the property industry across the country. It will be held at the Sofitel Hotel, Phnom Penh.Providing false information in the real estate sector can cause various problems, and certainly poses a great risk for the real estate sector. For that reason, the CVEA intend to create a open forum whereby all industry stakeholders can share information and find common understandings.The real estate sector in Cambodia is still very young with no real education institutions supporting it. Hence, the upcoming forum will be a place to learn more, for all the people of Cambodia: for novices who just started their career, and stakeholders in the real estate sector generally. In this public forum, we will discuss about: - Challenges and opportunities in Plotting Land and Sale - Challenges and opportunities in Housing Development - Challenges and opportunities in Condominium - Challenges and opportunities of Cambodia in ASEAN Globalization - Legal procedures for sale permit and construction permit for Condo - Type of Land title, property transferring, soft title ownership regulationsSIGN UP TODAY - contact the CVEA

Since the government’s commitment from the past decade to improve transparency and economic growth through Cambodian real estate law, the Kingdom has been one of the front-runners - and, in fact, one of the fastest growing economies in Asia.This is due largely to the numerous Cambodian real estate law and policies that have been passed and put into effect during this time. A few of these was discussed by Allen Pheap Prak, Legal advisor of P&A Asia, during his presentation at the inaugural Cambodia Property Show organized by Realestate.com.kh and Property Guru.Buying Condominium Units in Cambodia (Legal Qualifications):Pheap Prak mentioned that before the law on foreign ownership for co-owned buildings was implemented, sales of condominium units were really low and needed a quick boost. This is why Cambodia began accepting investments from foreign investors – through strata titles – to increase sales. Title deeds that are in the form of freehold strata titles could originally be held for 50 years and can also be mortgaged and put in a hypothec as collateral. But according to Pheap Prak, this policy didn’t initially have a provision to protect the locals. So, after a year, the Ministry of Economy and Finance decided that foreigners should only be allowed to purchase units above the ground floor and should only be allowed to own up to 70 percent of the property. This way, the occupancy rate goes up without giving any unfair advantages.He also states that a lot of developers have worked around the issue by either placing the parking area at the first few levels or turning the ground floor into a leasable commercial space.Although, if you look at the condominium market today, Pheap Prak mentions that locals are currently buying 40 percent to 50 percent of these condominiums for rental income. So, it’s not much of an issue these anymore.According to Cambodian real estate law, the typical transaction for purchasing a co-owned building in Cambodia requires a sales and purchase agreement. All sales and purchase of real property in Cambodia should have certification or notary by a Cambodian lawyer.But Pheap Prak mentions that if you were to sign a sales and purchase agreement outside of Cambodia, it’s important that you get a notary to witness on your agreements.He adds that if you want to rent a unit or retail space to operate food and beverage ventures, you do not need to get the tenancy agreement stamped by the local state council. However, if you were to rent a unit for office or residence, as a foreigner, that lease should be registered with a notary public so you can get a residence certificate to show that you can be in Cambodia and that you’re doing business here.For a company though, if you’re using it as an office address, you also want to register it because you would have to withhold 10 percent to pay to the government as tax.But it’s also important to note that for leases, it does not make a lease invalid if you’re not registered. Registering just means you’re compliant. Leases with 15 or more years, however, should be registered with the Ministry of Land. They give you a certificate of long term lease which is also valid collateral to use for mortgages and hypothecs.If you have long-term lease on a property, whoever the owner is, they cannot sell their landed property. A lot of foreigners like to register their lease in order to protect their interest, especially if they have a trustee hold or property for them.On top of all this, Pheap Prak also mentions that Cambodia is in the works for developing the trust law to further provide provisions to improve the way transactions are handled.Property Tax:In terms of taxation, just recently, Cambodia signed a double taxation treaty with Singapore which means that Singaporeans do not have to pay 14 percent tax for foreign remittance.  They now only have to pay 10 percent which is the same for Cambodian nationals. Pheap Prak also mentions other scenarios such as having a 10 percent VAT on a sale of a condo and that if you transfer property in Cambodia, especially freehold, 4 percent stamp duty for the transfer is a requirement.He further adds that when you purchase a condo, Cambodian real estate law declares that you’ll have to take care of the property tax which is once a year. It’s 0.1 percent per annum. Property tax does not fluctuate with the market though. It’s important to keep in mind that the Ministry of Economy and Finance has their own index for what your unit would cost in what area, and the prices are usually half the value.If you’re looking to buy for a capital appreciation though, Pheap Prak says that there is no capital gains tax and you can buy as a company or as an individual. He recommends buying as an individual though because, “if you buy as a company, you have to pay 20 percent tax on profit or 1 percent of your revenue. Even though there are no capital gains, it will come out somewhere when you’re declaring profits or dividends to take back.”Legality of Foreigner Opening Bank Accounts:It’s pretty easy to open a bank account in Cambodia. Creating bank accounts usually just require a passport valid for 6 months. Some banks require additional proof though, such as proof of ownership of property.But Pheap Prak says that generally, most foreigners don’t like opening accounts and borrowing from banks in Cambodia because interest rates are high. So, what most foreigners do is they leverage finance in their own country, take the lower interest rate, and then purchase overseas.But banking in Cambodia does have an advantage. Cambodian banks support locals and foreigners to obtain financing of up to 70% of the value of the unit. This is mainly because banks usually work with developers from the start to support the whole project.Pheap Prak explains that “they don’t like to share the end-users going into other banks. And usually, they have an agreement where, okay, the bank will support the project, help split the title. So, usually buyers are more confident when banks are splitting, instead of developers splitting themselves.”With regards to refinancing, he clarifies that banks don’t restrict refinancing, but it depends on the market’s supply and demand. Banks usually loan to a developer only if they have a cooperation agreement with them. He advises that you would also want to take your title deed back and go to a different bank. Most of the international banks are okay with this but the local ones might frown on it. You can do this because once the strata title is out, legally, the banks cannot hold onto your title deed.But in practice, they won’t loan you a mortgage a second time around. This is why a lot of foreigners like to get leverage from their own country and buy overseas.A lot of things have definitely changed in the structure of policies and governance, especially in Cambodian real estate law, but it’s definitely done a lot of good for the economy and for the country. And while many laws are still in the process of getting approval, we can be assured that the future will hold better opportunities because of them.Learn more about investing in Cambodia!

Jum reap sour! And welcome to another Realestate.com.kh property review. On this week’s show, we’re live at Apennines Condominium showroom in Phnom Penh with Ms. Vatey, sales manager at the Apennines Condominium project.See the full listing and inquire today!Tell us about the location of Apennines Condominium:Apennines is a modern condominium strategically located in one of the fastest-appreciating districts of Phnom Penh city - Toul Kork. More specifically, the location of our project is at house 40, Street 604, Sangkat Boeung Kak 2, Khan Toul Kork, Phnom Penh - just right behind Pannasastra University Toul Kork Branch. Apennines condominium is located just 10 minutes drive from Phnom Penh International Airport, and is also surrounded by schools, restaurants, supermarkets, sports clubs, coffee shops and entertainment centers.Tell us more about the developer:Apennines condominium is developed by KHSI INVESTMENT PTE LTD, an award winning architecture & engineering company with a wealth of experience in both Malaysia & Singapore. KHSI is uniquely committed to optimizing best standards and creating modern and quality lifestyle living through innovative and creative means.What sort of features does this condo have?Standing a total of 17 storeys tall, 1, 2 & 3 bedroom condos are available in a variety of sizes. All units’ interior has been uniquely designed by Singaporean experts, and fully equipped with high quality fittings. Shared condo facilities include a swimming pool, pool deck, gym; and the unique perfect car parking system, a car parking elevator.What does KHSI offer to buyers?Home loan is available through RHB and Phillip Bank.Freehold ownership titles, for locals and foreigners. Full security (CCTV, security guard 24/7).Great common facilities such as swimming pool, fitness center, gardening and minibar.Full property management and maintenance of the building (interior and exterior). An enticing GRR package of 6% annually.The first Car elevator parking system ever to be used in Cambodia, which is efficient, secure and convenient - and maximising space. How does Apennines Condominium stand out above the rest of the condos coming online in the market?Our architectural design (interior and exterior) is from award winning architect, EDP Architect Malaysia. Our engineering structure has been designed by LSW Consulting Engineer Singapore. The structure of the building includes reinforced Concrete walls and transferred floor technology, a feature unique to other projects currently in Cambodia.And our project is located in a residential area that is a hotspot for potential investment returns.  What types of Units are available?Type A: 89.72m2; Type B: 132.62m2; Type C:  67.74m2; Type D: 110.22m2 - with prices starting from $150,000.If you want to find out more, come and take a full showroom tour with Ms. Vatey today in Toul Kork; and while you are there, check out the construction progress of the project, located just down the street!See the full listing and inquire today!

Realestate.com.kh was extremely proud to welcome over 500 VIP guests to the official launch party of the first “Cambodia Real Estate" Magazine on 8/5/2016 Friday 6-9pm, D22 Bar/Tama Hotel, 22nd Floor, Phnom Penh Tower, Phnom Penh.Realestate.com.kh welcomed His Excellency Khieu Kanharith, The Minister of Information, as our Guest of Honor on Friday night.Realestate.com.kh thank everyone that supported us in making the Cambodia Real Estate magazine, and the evening’s party sponsors: Kilat Events, Bose, Voolim, Sino Plaza and The Piano Shop. A lot of people may be surprised by Realestate.com.kh’s decision to publish a magazine, considering Realestate.com.kh operate a real estate portal website and beileve strongly that ‘online’ and ‘digital’ marketing is the future of real estate marketing - which we still believe it is…Realestate.com.kh know how important it is to market real estate online in Cambodia and overseas, to attract foreign investors, and online/digital is the most effective and the CHEAPEST way to do so…But we also understand that our clients want to attract the local market and expats living in Cambodia.And even though Realestate.com.kh is experiencing rapid growth in internet penetration, there are still local buyers and renters that are primarily print-focused consumers. And if we can provide more value to our clients by creating a print publication/magazine we will - and now we have.And Realestate.com.kh prides ourselves on playing our part in educating the Cambodian real estate market, and the magazine is another way we can achieve and communicate this. On the magazine itself, firstly we are extremely proud especially of our team at Realestate.com.kh. And extremely proud that we have printed over 10,000 copies and have already distributed it to over 500 venues across Phnom Penh, Siem Reap and Sihanoukville. Realestate.com.kh will print 20,000 copies for our next issue and even more in future. We will print 4 issues every year, and the next issue will release in October 2016. Realestate.com.kh want to take this opportunity to thank everyone who has supported Realestate.com.kh in the last 12 months. Within the last 12 months, Realestate.com.kh has grown to 38,000 listings, over 400 active agents and over 100,000 users per month. This usership is generating 1000’s of inquiries from serious buyers inside and outside of Cambodia every month. Realestate.com.kh also want to officially announce the launch of two great products that we have set up here tonight: 1) “Realestate.com.kh 360 Degree Intreractive Tours” and 2) “Realestate.com.kh Walkthrough Videos.”Realestate.com.kh 360 Degree Interactive ToursThe first product is the “Realestate.com.kh 360 Degree Interactive Tours” - which are primarily designed for new developments, boreys or high-end existing properties. These 360 degree tours allow customers to experience your show-flat, or property in a fully immersive experience from anywhere!  You can use it at AEON mall, in your real estate agent’s office in Singapore or in the lounge room of your best customer. “Realestate.com.kh Virtual Tours” allows this freedom. Best of all we do all of the work for you and we can build these tours within 72 hours (or even 24 hours if it’s a rush). Pricing for this products starts at just $500 per video and the experience is amazingly lifelike. We encourage you to try this product soon.Realestate.com.kh Video Walkthrough ToursOur second product, the “Realestate.com.kh Video Walkthrough Tours”, are specially designed to make your property listings jump out and grab potential buyers or renters attention with a cinema like walkthrough tour, whether on your own real estate website or on Realestate.com.kh. This product makes old-style photo listings look very out-dated. With a 30 - 60 second cinema-style video, the customer can instantly get a true sense of the benefits and size of the property. We have used the latest technology to quickly, easily and cheaply create a stunning tour of any property in just a few minutes. Realestate.com.kh can create these tours anywhere in Phnom Penh within 48 hours, and the cost per “Walk Through Tour” is just $13! We believe this product is unbelievable value.Finally, Realestate.com.kh would like to thank you all for coming and for your support over the last 12 months. We are currently planning our second magazine due to come out in October 2016 and we hope you all advertise in it again. We will see you all at the next Realestate.com.kh party!   For more info on our products, services and upcoming events - please get in touch today!

The perception of foreign nationals towards Cambodia often seems to have grown old like the ruins of Angkor. In fact, there is more to the country than temples...There is an understanding among some international investors and businesses that the country is still underdeveloped and poorly regulated. This is a myth Dr. Simon Vancliff, Investment & Development Director of ING Holdings, the developer behind ING City, has debunked during the recent inaugural Cambodia Property Show organized by the leading real estate portals of Singapore and Cambodia, PropertyGuru and Realestate.com.kh.Vancliff explains that this is far from the truth. In fact, there are large economic zones and developments coming to Cambodia, and this is increasing every year. In fact, just this year, Coca-Cola has decided to invest $100 million into the Phnom Penh Special Economic Zone in order for them to be able to build a plant and expand their distribution inside the country and region, as according to the Phnom Penh Post last April.Large business entities have also established ties with the country such as Akira, Toyota, Samsung, ICBC, BMW and Suzuki, just to name a few. These companies, Vancliff says, recognize not only the inexpensive labor they are able to harness, but also the political stability of the land and its foreign-investment-friendly environment.He also enumerates other reasons why investing in Cambodia is ideal. Other than political stability, Cambodia has an advantageous location in the region, favorable investment climate, largely dollarized economy, increasing trade integration, improving transport and connectivity, lower costs in telecoms and internet, untapped natural resources and land, underpenetrated and growing domestic consumer markets, an unleveraged financial position, stock exchange and a flexible financial market. Furthermore, since the population is in the bracket of the working-age population, the demographics are also well suited for investment.Vancliff mentions that the Cambodian stock exchange will have around ten to twelve more companies joining soon and will continue to grow. He further strengthens his case by stating that Cambodia is now truly the “Pearl of Asia”, having a more centralized Governance system, and is raking in huge investments for infrastructural upgrades. As an evidence of this, more and more airlines are creating direct flights to Cambodia every year.One of the Kingdom's traditional weaknesses for investors - electricity costs - are also predicted to go down as more and more clean and solar energy plants are on the way to creating better solutions for energy consumption and supply.This will be especially true in Cambodia property areas like South Phnom Penh, says Vancliff, where the population is less dense and have more centralized amenities, such as water. Vancliff adds that there are also plans to install underground fiber optics and phone lines. New roads are also coming thick and fast, such as Hun Sen Boulevard, that will open in mid-2016. This will allow easier transport and access to resources that are once unavailable in the area.As the Cambodia property market and infrastructures grow, Vancliff hopes that the worldview towards Cambodia encompass more than just about the Angkor temples. While its grand history has been preserved, Cambodia continues to push towards global economic competitiveness.Want to find out more about Cambodia? Check out news and updates on Realestate.com.kh now!

Everyone needs a warm environment where they can live with their loved ones. So before you decide to buy a residential property, carefully consider a few things first such as its atmosphere, it's construction quality, and its potential for future investment. These are just some of the things that shouldn't be overlooked in the buying process. The Borey Villa Toul Sangke development project has gained popularity mainly due to its success in selling its past projects. It is strategically located in the Russey Keo district in Phnom Penh, Cambodia. They offer residential units such as landed homes and condominiums.The Borey Villa Toul Sangke project includes a variety of villas and condominiums that come in different sizes that you can choose from. Each and every home has been designed by construction professionals with quality and beauty in mind. Attention to detail is obvious. Some of the villas that are available are the Single Villa, Link House, Twins Villa, and Flat houses. Families will  also have the flexiblity to choose the City Sangkeo villa type too, as they see fit.Check out full listing on realestate.com.kh"We think about the quality and the best standard of living for families. The Borey has been completed. For all projects, the Borey is almost sold out. The condo project started construction and is at around 20 percent completion. And an estimated 30  percent had already been booked. We also have a special offer for customers which is a 10 percent discount for owners who have paid off their residential condominiums. At the meantime, the developer also provides ultimate offer that only require customers to pay $ 660 in per month with no interest and no deposit. The Borey Villa Toul Sangke condo project concept is focused on helping locals change their standard of living and pursing a more modern life. It also aims to make you feel comfortable. This residential property is exactly that. It brings a high standard of living, which is fully furnished like a 5-star hotel." This is according to Mr. Andy Kong , the general manager of the Borey Villa Sangke company. Ky Kosal, an employee of a private company, says, "After I saw the showroom of the different projects from Borey Villa Toul sangke and researched about it, I think that this is a good projects because the investment location is just near the new Aeon Mall and because it also has a great future investment potentials."Living in the Borey Villa Toul Sangke project offers a more modern, stylish, and luxurious way of living for you the people you live with, whether it's your friends or your family. The Borey Villa Toul Sangke project also has an extremely competitively-priced condominium development located in Russey Keo. It is situated in the business district, which is really close to the main road, government institutions, shopping malls, riverside, sports clubs, banks, hospitals, schools, and entertainment. More importantly, it's also very near the toul Sangke market.The Borey Villa Toul Sangke project consists of around 174 residential units with various designs, all of which were made with the vision of providing spacious, and comfortable homes for individuals and for families. There are also a range of amenities which include swimming pools, a sauna, a gym, a small market, and a golfing club. So, families are sure they will never run out of things to do and places to go to. Check out full listing on realestate.com.kh

It is easy to talk about the many ongoing and successfully completed projects in Cambodia right now because there is an abundance of them. But what is rarely talked about are the factors that contribute to the increasing opportunities in the country for both local citizens and foreign nationals that will support the sustainable development of the real estate industry as a whole, and create a strong secondary resale and rentals market into the future. Two of those factors are the country’s gross national income and the income status of its citizens. The growth of these two factors has a significant influence on the growth of the real estate industry.These two factors have been a recurring indicator in research and reports lately, such as the World Bank’s statement that Cambodia has now moved to a lower-middle income status, contributing to a gross national income per capita higher than $1,026 per year. The World Bank classes lower-middle-income countries as those with average yearly incomes between $1,026 and $4,035. Cambodia has just entered this bracket. The Implications of Higher Income Status:There is great trust placed by investors on a country with a growing economy. And part of that growth in trust will always include lower unemployment rates and a higher income status for the entire country. This ultimately leads to a higher sustainable GDP, which is also good for businesses. But what does this specifically mean for the real estate market? Simply put, this means that people inside the country are now able to afford a wider range of properties that have been previously hard to purchase due to low incomes. Local buyers are also more like to be applicable for home loans and finance for their next property purchase. So, for investors, your potential rental returns and resales prices are strengthened. In fact, land prices in Phnom Penh alone increased by 15 percent in the year 2013. And has only continued to rise since then.Also, with higher amounts of income tax being collected, the government will have more scope for policies to assist in the country’s progress, such as infrastructure and affordable housing projects.Income in Emerging Markets:Emerging markets like Cambodia are one of the best places to invest in because the GNI and GDP are just beginning to rise. This means that there is much more progress to be made and much more opportunities yet to come for those who commit to the market early. Placing your money in a country with a promising future will potentially give you much higher returns than you are likely to get in more developed economies. Yes - emerging markets do come with higher risk, but in countries like Cambodia, the political stability is a standout case in the region, and so it the economic growth rates. This helps to give investors the assurance they need to put money down. For investors, now is the time to seriously consider Cambodia as a destination for a property investment with the potential to sky rocket returns. If you wait too long, the opportunity may be lost. Learn more about the charm of Cambodia for property investors.

The recently released H1 2016 Market report by the independent global property consultancy Knight Frank details both the data gathered by the company from the real estate market’s activities during the first half of the year, in combination with an exciting preview of what is to come in the near future.According to Ross Wheble, country manager of Knight Frank, the outstanding turnout of new construction projects has ultimately led to a stage of moderation as a means to address the short-term risks in the market. If all goes well after that, the report indicates that Cambodia has the potential to climb the ranks and outperform Southeast Asia through the process of diversification, a state in which “robust growth is expected to continue.”Phnom Penh Office Sector:Starting the year with the completion of three large office buildings that totaled to a net lettable space of 5,000 square meters, the second half of the year for the office sector may see a slight difference in trends as companies start to take interest in higher end commercial space and transfer to Grade A and Grade B office buildings. This is due to the difficulties of the Grade C units to keep up with changes in regulations and standards.The demand for higher grade buildings has also been apparent with several projects seeing higher amounts of inquiries, like in the case of the Vattanac Tower where the occupancy rate is now almost at 50%. This may be the reason why most of the supply coming in the next few years is Grade A buildings. These include the units that will come with the completion of projects like the Exchange Square, Diamond Twin Tower, and Olympia City.The report by Knight Frank indicates that for the medium term, the country is expected to capture more foreign investments for the prime office space sector where prices may continue to rise from the current rate of $4,900 per square meter. This indicates bigger names moving in to do business in the country.Retail Sector:If there is anything that the data from the retail market sector is indicating, it’s that there is growing interest from international brands to acquire retail space in the country. Although currently moving at a lower pace in terms of occupancy, the percentage remains constant for malls in strategic locations like the Aeon mall - which still enjoys their steady 95.8 percent occupancy rate.  But this reprieve may not last long as newer retail space projects are expected to hit completion by 2020. The report indicates a projected total increase in retail area of around 209 per cent by that time.   But this may not necessarily be a bad thing, at least for businesses. Because along with the increase in the number of retail spaces available, rental prices will become even more competitive in contrast to the current range of $10 to $70 per square meter.Hotel Sector:The hotel sector had its fair share of both troubles and successes during the first half of 2016. While boutique hotels garnered a significant amount of tourists, international five-star hotels like the Marriott struggled to increase their occupancy rate due to the competition with the local accommodations.Despite this, another 175 keys will come into play with the completion of Rosewood Hotel, in addition to the 259 that was already added earlier this year. But according to Knight Frank, the struggle of international hotel chains is going to end soon as more international hotel giants have expressed great interest in expanding their business into the Cambodian market. Should these plans push through, the estimated 2,732 rooms that are awaiting their completion by the end of the year may just be the start of the growth that is projected to happen by 2019.This is also to address the anticipated influx of business tourists, especially by 2017 when the World Economic Forum will be held in the capital city, Phnom Penh.                      Serviced Apartment Sector:Though most of the serviced apartments are locally owned, the market heavily relies on expatriates to rent and occupy the properties. Currently at around 4,017 monitored units, there are around 1,730 more units that should be completed by 2018. This is expected to cause a significant decrease in rental price which currently ranges from $667 to $4,000 per month, depending if it’s in the high end market or not. The construction of more modern condominiums and small scale serviced apartments will also contribute to the decrease of the current value in the collection of serviced apartments.Condominium Sector:The condo market saw a 4.9 percent increase during the first few months this year. This comes up to a total of 2,797 units added in the supply which includes developments like The 240, Galaxy residences, and 9 East. 929 of these units were sold during the first half of 2016. This represents a decrease of about 26.7 percent since last year. these units were sold during the first half of 2016. This represents a decrease of about 26.7 percent since last year.More and more projects of this type have been slated in the coming years, and 74 projects are noted to reach completion by 2020. 72 percent of these will be made up of high-end or prime condominium projects. For completed, central condominium rental rates, prices remain relatively high at a maximum of $4,000 per month. This is why it would be wise to disperse and move to the outskirts of the capital where land prices are less expensive and concepts much more fluid.Stricter enforcement of the law will also be a factor in drawing the interest of foreign developers and investors who had initial fears of losing money because of unenforced and vague policies. Much friendlier financing schemes for both locals and foreigners also make it more convenient to invest.Download the full H12016 Knight Frank Market Highlights Report

Showing a positive turnout for the 1st quarter of 2016 for prime office rentals, Knight Frank has confirmed that there have been various positive effects brought about by incoming investors, government policies, and infrastructure from different markets in the real estate sector in Cambodia.This is something that the managing director of CBRE Vietnam, Marc Townsend, agrees with. But in his presentation about Cambodia Property Market Outlook 2016, during the inaugural Cambodia Property Show organized by Realeastate.com.kh and PropertyGuru Singapore, he adds that there are also different factors that affect what the future of the property market in Cambodia will look like.The China Factor:Townsend explains that much of how Cambodia has progressed and will progress is partially because of its relations with other developed and emerging markets. And these factors have a significant effect on the Cambodia Property Market Outlook 2016.He says that probably one of the biggest contributors and partners of the country would have to be China, since the two countries share a long history of allegiance.This probably applies most to infrastructure, but can also be seen through other sectors such as tourism. The China Daily reports that, according to the Cambodian Minister of Tourism, there will be over one million Chinese tourists who will visit Cambodia in 2016, and is expected to rise to two million by the year 2020.Townsend also says that China very much dominates the policy-making process and the way that investment licenses are granted in Cambodia.Fluctuations:During another part of his presentation about the Cambodia Property Market Outlook 2016, Marc Townsend mentions that another important consideration when looking at emerging markets such as Cambodia is inflation, as it can move anywhere from a ¼ to ½ very quickly due to an increase in money supply. He adds that foreign exchange can also behave the same way, and it may play to the interest of investors to keep a close watch on both indicators.Retail and Psychology:In his travels and his own analysis, Townsend has seen new businesses rise from the ground - mostly FMCG and FMB operations of which young Singaporean or Malaysian entrepreneurs own. This will play a big role in residential space sales since people like this like to live in areas where there are large active retail components like malls, gyms and after-school education. This is one of the things investors should also consider.And it’s no longer just Phnom Penh dominating the retail market: Siem Reap and Sihanoukville are now slowly catching up and gaining competitiveness in this segment.Townsend is also positive that, with new commercial developments like the Aeon Mall and larger populations flocking to the major cities, major retailers will start to flock Cambodia. Being in the crossroads between being an underdeveloped country and an emerging market gives retailers perfect opportunities to do business and invest.Industry:One of the types of properties that has shown significant growth and has contributed much to the Cambodian economy is the industrial property market, paving the way for SEZs, industrial parks and similar properties to flourish. Much of this has to do with the consistently strong garment and footwear industries. Much to people’s surprise though, according to Townsend, Cambodia also has a growing technology market. For example, the creation of cellular phone vibrators is a big winner currently. This attraction centers on the cheap cost of labor, that is becoming gradually more skilled. Townsend warns investors and retailers though that Cambodia is a part of AEC but not part of TPP. And if the TPP goes ahead of the AEC, then investors in these spheres may eventually lose out.Hospitality and Infrastructure:In addition to all these new developments and signs of progress, Townsend also mentions that it’s a good thing that more airports and infrastructure is being built in the Cambodian market. This actually not only helps the tourism sector by providing more direct flights from different countries, but it also helps the hospitality industry and investors who wish to create properties that cater to these travelers.Condominium Market:Though being flooded by foreign investors, Townsend said that the occupancy of residential condominium units is quite high, especially by Khmer families. This may also be due to the fact that there are now stronger local property management capabilities than previous years. Taking all of these factors into consideration, along with a stable political standing, Townsend says that Cambodia as a real estate destination is quickly catching up with its neighbors. There’s a ready primary market, although a secondary market that is still to be tested. So, while it’s best to be cautious, in his Cambodia Property Market Outlook 2016, Townsend believes that Cambodia offers a unique chance for investors to enter an exciting emerging market with very attractive potential gains.Learn more about investing in Cambodia…

Sino Plaza held a press conference at their showroom in Phnom Penh Friday last week, July 29, 2016, to announce their official launch for bookings.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, Phnom Penh.The project started construction in early 2015, and now all foundations are complete, with around $15 million already invested into the construction work. 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.According to Oknha Cheng Kheng, executive chairman of CPL, exclusive sales partner of Sino Plaza in partnership with Huttons CPL, "Sino Plaza is actually one of the most sustainable developments in Phnom Penh now. The number of units provides economies of scale for maintaining a development with the most-extensive onsite facilities. The Office Tower will ensure that commute time to work is minimized. Meanwhile, the completeness of the retail mall is unique: with International SPA, Gold Center, Supermarket, International  KTV and restaurants serving cuisine from around the world.”“Considering the convenience, completeness and the high potential appreciation from rental yield and capital, Sino Plaza will be the most desirable development for at least the next five years or more."Oknha Kheng continues to say that, “This is the first ever development in Cambodia that the developer is adopting the foreign method of CSR (Corporate Social Responsibility), allocating a certain percentage of units at a very special price for the Local Cambodians only. Encouraging the locals to strive for a better lifestyle at an achievable budget is a very clever approach. This is the developer’s way of giving back to Cambodian society. The whole tower is actually priced slightly lower than market rate to ensure the affordability for Cambodian with end-user financing and the development ultimately will not be a ghost-town.”Chhoeung Sotheara, head of sales for the project Sino Plaza at CPL, said that "this area is a matured neighborhood with amenities and conveniences nearby, surrounded by embassies and government departments. Yet it is only five minutes away from BKK1 where most international schools and eateries are located. The potential for capital appreciation is very high here."Contact today to find out more.

In a recent BBC report, Cambodia's condo sector is in the world spotlight.  "Cambodia's capital Phnom Penh is on the rise. Glass, steel and concrete mega-structures are beginning to dominate the city's skyline," says BBC's Nick Wood, "But as the capital grows, there are concerns that many of Phnom Penh's residents will be squeezed out by the frenzy of construction projects." The report includes Victor Huot, Marketing Manager at Urbanland Asia, the developer behind Embassy Central and Embassy Residences. Foreign Direct Investment is now at an all time high in the Kingdom, putting the Cambodian condo construction industry on a similar playing field to its larger, more-developed ASEAN neighbors. However, the BBC speculate that current development is not suitable for most local buyers, given the average costs of most large scale condo projects currently underway in Cambodia. Learn more about the Cambodian investment climate today on Realestate.com.kh's extensive location profiles and investor resources.

The ZEMCH 2016 Conference scheduled for 20th-23rd December is the 5th most important global gathering of green architects, developers and managers for Zero Energy Mass Customized Housing. With their vast academic research background, the community as a world wide operating network tries to present research-based, viable systems for housing as a contribution to curb global warming by green and energy efficient building technology.It's recent back story relates to the December 2015 Paris Agreement with the ambitious Climate Agreement goals inhibiting the increment of global warming to maximum 1 degree C by 2050.  As the overarching theme of this year’s conference based on the Paris Agreement, the buzzwords “implementation” and “action” are the ones that should echo into the future. Hence, the theme of the conference is “Zeroing in on the Paris Climate Agreement - Contributions of Zero Energy Mass Customized Housing”. One focus is how sustainability relates into cost savings for the owners and occupants of residential housing buildings.The organizer, which is the University Kuala Lumpur together with the University of Brighton, is expecting 40 selectively quality contributions of all over the globe, including topics like "Greenhouse Gas Emissions from the Residential Sector or Energy" or  "Efficiency vs. Indoor Air Quality: A Review of Optimal Retrofit of Existing Buildings". The deadline of registration for early birds will closes on the 15th October 2016; bookings through the website: zemch2016.com and  for any information please email ZEMCH2016@unikl.edu.my

Sun Fair Market is set to be the first flea market in Cambodia, with a huge range of consumer goods and materials, kitchen and office equipment, antiques, artifacts and all sorts of other bits and pieces for sale.Sun Fair Market will be launched in early August, this year, and will be open to the public from 8am to 12 noon inside Olympic Stadium, Sangkat Olympic. According an interview with CTN, Mr. Kem Oeun, founder and director of the Cambodia Japan Cooperation Center and the President of the Association of Trade and Investment Cambodia – Japan, said that “Sun Fair Market will be full of used and secondhand goods. By sharing and selling these home goods these can then be reused. It is a common thing in other countries, but it is the first ever in the Kingdom.”Kem continues, “The location for our sales are very good, inside Olympic stadium, and the selling will start from 8 am to 12 pm every Sunday. We hope each market day will bring big crowds to Olympic stadium.”He added that, “this is the Japanese culture concept called ‘Mottaina’ - passing on things which we no longer use or do not need to others who need them, and saving the environmental damage of just throwing the used things away.”Ms. So Chanleakhena, fresh-graduate from Korea and currently working in private company in Phnom Penh, “Yes, I’m extremely excited about this project. For one thing, Sun Fair Flea Market is a way to get rid of things I am not using in a really useful way, either financially or emotionally - and by emotionally I mean, giving them to people in need. My house and room will undoubtedly become more spacious and tidy.”“‘Kill two birds with one stone’ is a suitable expression for this, I guess. Also, this can be seen as a chance for Khmer people to start socializing, understanding and helping each other. I’m pretty sure that the project could evoke our beautiful and priceless ‘culture of helping’, which we used to possess.”Sun Sinett, designer and private company staff in Phnom Penh, agreed with this concept: “When you buy from the fair flea market you’re not helping the big business to get richer and bigger.”“Instead,” continued Sun, “You’re helping your community and saving the world’s resources by recycling! It could be a gathering that you can enjoy networking with neighbors and friends.”According to the Facebook page of Sun Fair market, the profits derived from operations will be distributed to Olympic stadium, 25%, Foundation Leng, 25%, 5% to the Kantha Bopha Hospital and 5% for the Sunrise Japanese Hospital. The remaining 40% will be given to operating personnel.