Even though the sounds of construction ring across Phnom Penh, the Cambodian real estate market still needs development in terms of consistency and quality to encourage a higher rate of FDI in real estate.  Nevertheless, in the eyes of many investors, Cambodia is demonstrating the political stability and consistent economic growth necessary for confidence in new foreign investments. The director of Khmer Real Estate, Mr. Kim Heang, said that the real estate development in Cambodia is showing great potential as the Cambodian economic sector is rising by around 8 percent per year for the last 20 years. Cambodia in becoming an increasingly attractive place for investors because Cambodia today has better infrastructure, low labor prices, and 70 percent of people are under 35 years old. These factors are the most encouraging for investors, believes Heang.    ​He went on to say that the growth of the construction sector is demanding more responsibility and respect, as it is becoming a crucial industry for the nation’s growth and people's’ wealth. “Now Cambodian valuers and agents are also rising in their abilities and professionalism in order to prepare for the Asean economic community integration” he said. “Cambodia is one the leaders in economic growth within Asean, and we will step forward into the future as a strong market”.   General Director of Century 21 Mekong, Chrek Soknim, said that he is optimism about the growth of real estate in Cambodia. “This should continue to grow sustainably until 2018 because the sector faces no impediments.” He claimed that there are three factors currently supporting the growth of the real estate market sector. First of all, good political stability is important to attract more investors. Secondly, the Asean integration at the end of this year will mean more commerce and cultural exchanges between Asean states, naturally supporting demand for accommodation, investment properties and office space. Thirdly, the increase in quality and variety of available real estate will allow investors more choice when they buy real estate in Cambodia. And Forth, the royal government of Cambodia will soon be able to grant loans to its citizenry on long repayment terms of 20 years and higher, meaning more people will have credit to buy their own homes. When the majority of people are able to buy a house, then the construction and real estate sector can only grow.   “Even though new development projects face some obstacles in the coming years, if they choose the right location, and build to the right quality standards, these problems will be limited,” he added. He mentions that the economic growth rates of 7 to 7.5 percent are ideal for business growth, and will also support the real estate market development industry. Sear Chaylin, general director of CL Realty Estate, said that the property being sold has decreased a little bit in a last few months, but this is normal when the rainy season is coming. During this period, buyer transactions are usually slower. It will increase when Cambodia is ready to integrate with ASEAN at the end of this year. Many Japanese companies are now flowing into the Cambodian market, bringing new challenges and opportunities to the market. “I think that the real estate market and property sector will continue to develop because the needs of the people are rising, strong economic growth is occurring alongside relative political stability, and security in the market is better than ever,” Mr. Sear Chaylin said. “Even though we are seeing increases in construction, it will be suitably matched to the current economic growth and the needs of the people”. Senior National Economic Counselor, H.E Mey Kalyan said that “for instance, when we buy fish, vegetables, and rice today, then we can eat. But, if we buy a house and property, we cannot eat the benefits immediately. We have to keep it for a long time and it represents a big risk. If you don’t have enough money, you can borrow that money from the bank in order to invest, and hope that it will gain profit in the future. However, if the house is not sold or rented, people will not have money to pay back to the bank and, if this happens to too many people, the bank will collapse. When banks collapse the financial system and national economy is in great jeopardy.”       “Be careful if you are building for rent or sale, then you cannot rent or sell upon completion - this is a big problem. So, control your risks and always try to limit your chances of failure.” H.E Mey said. “The royal government of Cambodia can see this risk. Be careful, because any sector growing so fast has risks like this.” H.E Kalyan went on to say that the government should manage the flow of money in the right way in order to control this growth risk. But when you prevent the flow of money, the growth of the economy can suffer. Therefore, the management of money flow must play a balancing role into the future. H.E Mey Vann, General Director of Financial Industry of Ministry of Financial and Economy, said flows of money into the real estate market sector have come with few risks thus far, but the ministry is being proactive in working with investors in order to manage the data of development, demands, and specific support for preventing risk in this sector. “Data management and money flow management in this sector is very important for us if we want real estate development sustainability” H.E Mey Vann said. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.

It is no accident when foreign investors enter Cambodia and spend millions on highrise condo projects. Why do foreign investors invest in Cambodian condos? The answer relates to political stability, strong economic growth, and the free use of the US dollar.The Cambodian economy has increased so fast since the civil war’s end, and relative stability has been achieved in only two decades. Cambodia maintained a 7.8 percentage GDP increase every year since, which makes it the sixth fastest growing economy in the world.CEO of Eastland HK Development, Sam Yang, who has been building Cambodian condos and high office buildings in Phnom Penh, said that his latest project, East Commercial Center (ECC), will finish at the end of 2017. This building is 38 floors on Norodom Boulevard - with small, adjustable office spaces for sale and rent, with reason prices and a good location.​ He went on to say, “I think that 2018 will be ok. There isn’t any market which is unaffected by politics. You have to remember that Myanmar and Thailand will also have elections, and it will be the same type of situation we predict in Cambodia”. He added that there three main points in this market which make it very attractive. Firstly, we are sure that the next major international economic boom will occur in an Asean country. Secondly, Cambodia is the third country in Asean to have achieved relative political stability. Thirdly, investors can rely of the US dollar in Cambodia, and this is very attractive.” Yang also sees Chinese investment continuing to increase in the next few years, citing plans for a regional Chinese railway in the coming years.He added that thus far the Cambodian real estate market has only attracted relatively small investment pools, in comparison to international standards of major investments. Generally, new real estate investments in Cambodia are valued at around 5 to 10 million dollars only. The larger real estate investment funds of 200 to 600 million dollars have not yet come to Cambodia - but they will soon.  “The Cambodian condos market will continue to improve and Chinese investors plan to construct more roads and railway lines in 2018 to link the Asian markets together.” Mr. Sam Yang asserted “Even though the investment in Cambodia is growing fast, we should still think about the correct supply while this country is developing. This is why ECC is focusing on affordable office space.” The director of JS Land Limited, Koy Lesan, said that even though there are many condo projects being built recently, some of condos don’t respond to needs of customers and are too expensive. Prices per unit of around 80 to 100 thousand hundred dollars do not reflect Cambodian incomes. He went on to say that the needs for more housing for locals and foreigners is increasing, but most condo projects are still overpriced. This understanding has inspired JS Land’s new project. The Cambodian condos project is 19 storeys high and has 212 units. Each unit is priced at just $38,000. The important thing is that it will be easy for the customers to cooperate with Maybank, who has offered financing for the project. They can install payments on long terms from 20 to 25 years, allowing buyers to manage their investment alongside a low average income across the population. KH NIRON Investment’s executive director, Ms Lok Sovanna, invests in many condominium projects in order to resell the units. She said  “there is some risk but we observe that Cambodian people and foreigners demanding more and more condos and apartments and understanding the benefits of investment. She went on that KH NIRON INVESTMENT has spent a hundred million dollars investing in big projects. For example; units in Bodaiju Residences, DI Riviera, The Peak, The Bridge, and East One.    General Director of Century 21, Kevin Goos, said that the Kingdom is the most attractive market among Asean countries. The biggest real estate markets of Singapore, Hong Kong, and Taiwan are decreasing in investment by around thirty percent. Hence, we can expect increased investment in Cambodia in the next 2 years.    He went on to say that the real estate market in Phnom Penh has affordable prices, if we compare to other countries in Asean. Cambodia is still growing fast across economic sectors, as it has been since 2001. If we compare the real estate market in Cambodia, it is the same as other countries such as Singapore, Taipei and Hong Kong during decades of the 1980s and 90s. Phnom Penh is growing fast and we also seeing some successful construction projects, such as the North Park Condominium project, which sold around 40 percent in the first phase of its inauguration last week. ​He went on to say that Cambodia granted a good opportunity for business expansion and the stand of the government on Foreign Direct Investment (FDI) is very attractive if we compare to other Asean member state policies. He added that the creation of the new construction law, and development in the country generally, will open the door for investors to invest more heavily in real estate,  and aid foreigners buying condos with greater transparency and consistency. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.

The official opening ceremony for the Camhomes’ Sihanoukville office was held last Saturday, March 26, graced by a host of honourable guests, including Oknha LAV Kang from the Sihanoukville Chamber of Commerce.With the launch of Camhomes’ Sihanoukville sales office, opening daily beside the 2 Golden Lion Roundabout, Camhomes can now provide investors close-proximity information about D’seaview and other upcoming Camhomes’ projects. It is also just minutes away from the buzz of the D’Seaview construction site...The D’Seaview construction is moving very quickly now. Already, 14% of the piling works are completed under the guidance of an international team of engineers, supervisors and construction professionals.Having accumulated more than 25 years of experiences in the design, construction and management of property developments in Singapore since 1988, D’Seaview will incorporate the latest in construction methods and modern building management concepts from Singapore.  The use of precast panels will allow for a smoother and more consistent finish throughout the complex; hollow core precast panels also allow service connections to be hidden within the wall therefore minimising the need for hacking and plastering or exposed ductworks; quality international standard fittings and fixtures will be used throughout, along with homogenous floor tiles, safety glass ( for windows which extends below 1m height), and a safe and quality assured elevator system; wall tiles to wet areas come standard, and beautifully-crafted roof terraces are provided for selected units; finally, all bathrooms have windows to allow for natural light and ventilation, and all enclosed kitchens have windows for ample ventilation. Naturally lighted and ventilated corridors, via cross ventilation, ensure a high level of comfort in all common areas within D’Seaview. As importantly, your new home will be a safe haven – with a high level of security via separate commercial and residential car park levels, card access and an integrated intercom service. Residential units will enjoy unrestricted sea views through design thanks to D’Seaview’s efficiently shaped floor plans. Prime units also include spacious balconies for outdoor enjoyment. Luxurious amenities shall fall at your doorstep, with subscription facilities such as a pool cafe, swimming pool, kid’s room, yoga room, library, and fully equipped function rooms. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showrooms in Phnom Penh at the Canadia Tower, level 3, or in Sihanoukville, Golden Lion Roundabout 2.Or check out the full listing information online at realestate.com.kh.And if you're in Sihanoukville this weekend, call the local sales team for a tour of the site and showroom.

Realestate.com.kh spoke with talented freelance architect & accomplished artist Sothea Thang about innovative architectural design and how to add value to your property.Sothea Thang is a self-taught Cambodian artist born in 1983. He graduated from Norton University in Phnom Penh with a degree in architecture and urban planning, and he worked at an architectural agency from 2007 to 2010. In September 2009, Sothea took a leave from his architectural position and turned to painting for a break from his office job. This soon became his vocation when he developed “Happy Together”, his first collection of paintings. The series was commissioned by a Siem Reap hotel and was exhibited later that year, and its success pushed Sothea to explore his skills across visual media, even as he continued to work as a freelance architect. In 2011, he opened his own studio-gallery in Phnom Penh, Top Art Gallery.What made you decide to be an architect?Sothea Thang: As a child with a wild imagination, I always enjoyed all kinds of creative activities. When I finished high school, I looked around at the art scene in Cambodia. The scene was small and there were not many opportunities for local artists at that time. I thought about what I could do for my studies that was still connected with creative activities and thus decided to try architecture. I found I really enjoyed studying the subject at university and that led to my continued work in the field. What trends do you feel are important in architecture/design?Sothea Thang: I appreciate naturalistic aspects that emphasize space, functionality, and light. Green space is important too. Architecture is about merging elements in designing a structure, and I feel it's necessary to bring these things all together into the building as well. What is your design philosophy?Sothea Thang: Simplicity and strength through purity. Less is more. Practical yet beautiful. I like to bring about something that is unexpected; creating new forms within older structures and merging them together. This can be challenging but has often led to my most unexpected and novel successes.What key aspects are essential for innovative design?Sothea Thang: Space: the feeling when you walk in, that it's an open space with light, air and with green/natural elements. You feel like you can breathe. Also need to study and consider what's around the building. The result is needs to fit well. The materials inside and outside also need to fit with a vision and belong with those naturalistic elements informing the design.  Some businessmen today, they build without thinking about the space itself or about the surroundings, they just build and want to sell. But this omits any thought about the people living, working, or passing time in that space.What's happening in Cambodia in terms of "green" or sustainable design?Sothea Thang: In Cambodia, we don't really see this a lot right now. Past architects have paid more attention to the light, the air, the rain, but today we see buildings going up quickly with focus on maximizing profit. For example, they make housing developments, and they divide the land plots as much as they can to maximize the number of units available for sale. This minimizes space for greenery, it blocks out light and air, and it actually leads to increased energy and water costs. From one unit to another, the space is not enough. No attention to trees or nature, and not enough focus on the space within the units they build. How do you know if a building is well designed?Sothea Thang: There is more attention to the way the elements flow in and around the structure, better technical connections such as water pipes, drains, and electricity. I look at the details and the quality of the chosen materials. These signal the quality of the construction work. I also look at how the space is arranged to determine what kind of concept there was in the design. The finishing on the walls or the way a floor is polished, signal to me the intentions and the techniques behind the designs.Regarding renovation, what elements add the most value to a property?Sothea Thang: When I'm renovating an old building, it's important for me to determine the existing elements of the space. Then I try to retain key features of the building while merging my own contemporary additions into the structure. Often, the key step is opening up the blocked interiors of the property. I select higher quality materials, open up the space to more light and air, add green features, and maybe create some aesthetic flourishes. My clients have appreciated when the spaces are opened up to more light and air. This also requires thoughtful consideration of the overall floor plan and the way people actually walk through the rooms and use the space. Modernizing the appliances and updating the materials with higher-quality detailing are also key. This is the same for every part of the house: living room, kitchen, bedroom, bathroom, and terrace/garden. This interview has been edited for length and clarity purposes.

Welcome to Real Estate Investment Opportunities High Value Networking Event... Successful people agree that effective networking is crucial to growing your business. That is why we are organizing the very special and high value networking event to provide you with the Best real estate investment opportunities and discover many good ideas how the seasoned investors invest in the property market in Cambodia. We have 3 Successful Entrepreneurs sharing their valued experiences.You will meet new business contacts such as Season Real Estate Investors, Decision Makers, Property Owners, Real Estate Professionals, SME Owners and Executives from across industries, and the Best of it’s Fun sharing together. We will be served Cocktail and Drinks and you will get a chance to win great PRIZES. Bring an associate, lots of Business Cards and be ready to have a GREAT TIME!Date: Wednesday 30th March 2016. Time: 6:00- 8:30PM. Venue: At Skybar of Frangipani Boutique Hotel (Toul Tom Poung). Address: #15 Steet 123 Khan Chamkarmom, Toul Tom Poung (Near Russian Market), Phnom Penh. Your investment is only $15/person.Call: Ms.Vannak 095 666 298 to reserve your place now!

លំនៅដ្ឋាន ប្រណិតមុខមាត់ថ្មីរបស់ទីក្រុងភ្នំពេញពីមួយឆ្នំាទៅមួយឆ្នំាទីក្រុងភ្នំពេញបានផ្លាស់ប្តូរមុខមាត់របស់ខ្លួនគួរឲ្យកត់សម្គាល់ ហេដ្ឋារចនាសម្ព័ន្ធ អគារពាណិជ្ជកម្មខ្ពស់ៗ ជាពិសេសលំនៅដ្ឋានប្រណិតៗជាច្រើនបានកំពុងរីកដុះដាល ដែលសាកសម្យបំផុតជាមួយមនុស្សសម័យថ្មី និងបរិបទរស់នៅប្រកបដោយភាពស៊ីវិល័យរបស់អ្នករស់នៅក្នុងទីក្រុងភ្នំពេញ។ការរស់នៅរបស់ប្រជាជនក្នុងទីក្រុងភ្នំពេញបានកំពុងតែទាមទារនូវភាពទាន់សម័យ ភាពឯកជន និងការរស់នៅប្រកបដោយភាពប្រណិត។ ជាក់ស្តែងគម្រោងលំនៅដ្ឋានជាច្រើនបាន ចាប់ដំណើរការលក់ជាផ្លូវការ ក៏ដូចជាកំពុងតែចាប់ដំណើរការសាងសង់ ហើយលំនៅដ្ឋានទំាង នោះសុទ្ធតែស្ថិតនៅលើទីតំាងល្អៗ ចំណែកឯការរចនាម៉ូតផ្ទៃខាងក្នុងនៃលំនៅដ្ឋានទៀតសោធក៏មានការច្នៃប្រឌិតខ្ពស់ផងដែរ ចំណុចទំាងនេះទាមទារឲ្យម្ចាស់គម្រោងទំាងនោះត្រូវតែមាន ដើម្បីធ្វើការប្រកួតប្រជែងទីផ្សារអចលទ្រព្យក្នុងប្រទេសកម្ពុជា។លំនៅដ្ឋាន ប្រណិតដែលរួមមាន ផ្ទះបុរី ផ្ទះវីឡា អគារខុនដូ ដែលជាតម្រូវការរបស់អ្នករស់នៅក្នុងក្រុងភ្នំពេញ ជាក់ស្តែងមានគម្រោងធំៗដែលមានលំនៅដ្ឋានសម្រាប់ដាក់លក់ឬជួលដូចជា៖​ គម្រោងលំនៅដ្ឋាន និងអគារពាណិជ្ជកម្មនៅទីក្រុងរណបកោះពេជ្រ គម្រោងទីក្រុងអូឡំាព្យា (Olympia City) Embassy Residences​–Embassy Central ក៏ដូចជាមាននៅគម្រោងជាច្រើនទៀតផងដែរ។ ក្រលេកមើល លំនៅដ្ឋាន ប្រណិតៗទំាងនោះវិញ យើងចាប់អារម្មណ៍ថាអគារខុនដូខ្ពស់ៗក៏មានការកើនឡើងផងដែរ តើនេះជាបែបផែនរស់នៅថ្មីរបស់ប្រជាជនកម្ពុជាឬ? “ចំនួនភ្ញៀវទិញ លំនៅដ្ឋាន ក៏ដូចជាស្នើប្រាក់កម្ចីសម្រាប់ទិញផ្ទះប្រភេទខុនដូមានចំនួនច្រើនគួរឲ្យកត់សម្គាល់ មានទំាងភ្ញៀវក្នុងស្រុក និងភ្ញៀវបរទេស។ ប្រជាជនក្នុងស្រុកគិតថាមានភាពងាយស្រួសរស់នៅជាពិសេសពួកគាត់ចង់សាកល្បងរស់នៅក្នុងផ្ទះប្រភេទនេះ តម្លៃអាចទទួលយកបាន ដែលសំខាន់អគារខុនដូភាគច្រើនមានទីតំាងនៅទីប្រជុំជន។ ចំណែកជនបរទេសគាត់ទិញសម្រាប់វិនិយោគ និងសម្រាប់ស្នាក់នៅ” នេះជាសំដីរបស់ កញ្ញា ហេង ស្រីនាងមន្រ្តីឥណទានផ្នែក លំនៅដ្ឋាន របស់ ធនាគារ កាណាឌីយ៉ា។មុខមាត់ថ្មីនៃទីក្រុងភ្នំពេញគឺជាការរីកដុះដាលនៃ លំនៅដ្ឋាន ដ៏ទាន់សម័យប្រចំាទីក្រុង ចង្ខុវិស័យរបស់អ្នកវិនិយោគទុនគឺបានសម្លឹងទៅថ្ងៃខាងមុខ នៃបរិបទរស់នៅរបស់ប្រជាជនកម្ពុជា ដែលទាមទារនូវស្តង់ដាររស់នៅខ្ពស់ ប្រជាជនកម្ពុជាដែលមានវ័យកណ្តាលស្មើនឹង 38.9% នៃប្រជាជនសរុប ដូច្នេះជីវិតរស់នៅរបស់ពួកគាត់គឺមានភាពទាន់សម័យ និងការទាមទារខ្ពស់ កញ្ញា សម្បត្តិ ចាន់ពិសី មន្រ្តីផ្នែកលក់ប្រចំាគម្រោង Diamond One បាននិយាយថា “ប្រជាជនកម្ពុជាបច្ចុប្បន្នមានការចាប់អារម្មណ៍លើ លំនៅដ្ឋាន ប្រណិតៗដូចជា ខុនដូជាដើមពួកគាត់គិតថានេះជារសនិយមថ្មីក្នុងពេលបច្ចុប្បន្ន ចំណែកជនបរទេសដែលចាប់អារម្មណ៍ លំនៅដ្ឋាន ប្រណិតៗមានដូចជា ជនជាតិម៉ាឡេស៊ី ជប៉ុន សិង្ហបុរី និង ចិនជាដើម។ លោក ពិន ពិសី ជាបុគ្គលិកនៅក្នុងក្រុមហ៊ុនឯកជនមួយ បានទិញផ្ទះប្រភេទខុនដូមួយបាននិយាយថា “ខ្ញុំបានទិញផ្ទះប្រភេទខុនដូបានរយៈពេលពីឆ្នំានៅជិតវត្តសន្សំកុសល្យដោយការបង់រំលោះជាមួយធនាគារ ហើយខ្ញុំដូចជាមិនសូវចាប់អារម្មណ៍លើការលក់ដូរដើម្បីចំណេញអ្វីនោះទេ ខ្ញុំចូលចិត្តបរិយាកាសរស់នៅបែបនេះវាមានសុវត្តិភាព និងមានភាពឯកជនផ្ទាល់ខ្លួន”។ ការសម្របខ្លួនយ៉ាងលឿនជាមួយនឹងការរស់នៅក្នុងភាពប្រណិតទាន់សម័យបែបនេះ ជាពិសេសការរស់នៅក្នុង លំនៅដ្ឋាន ប្រភេទខុនដូ អាចនិយាយបានថានេះជាលក្ខខណ្ឌរស់នៅដ៏សមស្រប និងថ្មីស្រឡាងសម្រាប់ប្រជាជនក្នុងទីក្រុងភ្នំពេញ ទន្ទឹមនឹងនេះផងដែរ លោក រស់ស្ត្រា ធិបតីជាអ្នករស់នៅក្នុងខុនដូបានបន្ថែមទៀតថា “ខ្ញុំរស់នៅក្នុង Rose Condo ប្រហែលជាង2ឆ្នំា ហើយការរស់នៅប្រកបដោយផាសុខភាព សុវត្ថិភាព មានទីតំាងដ៏ល្អដែលស្ថិតនៅទីប្រជុំ់ជន ជាពិសេសវាមានភាព​ឯកជន និងមានសេវាជាច្រើនរួមគ្នានៅក្នុងអគារខុនដូ ដូចជា៖ ផ្សារទំនើប ក្លឹបហាត់ប្រាណ និងអាងហែលទឹក ស្នាក់នៅខុនដូពិតជាមានភាពងាយស្រួល”។NEED A CONDO?

Urbanland is firmly setting themselves above the competition when it comes to Phnom Penh inner city design and residential development.  Their hugely successful Embassy Residences project, set for completion by the end of 2016, has sold 90% of all its available units. This year also heralds the upcoming launch of their second condominium project, Embassy Central. Mostly through word of mouth and exclusive networking and open house events, Embassy Central has steadily seen increased buzz and interests from buyers and investors. Hok Kang, the founder of Hok Kang Architects and Urbanland, is also the principal architect behind the leading locally owned cafe chain, Brown Coffee. Launching its first Brown’s branch on the capital’s Street 214 in 2009, the chain now has 11 unique locations each with its own architectural flare thanks to Hok and his team of architects & designers. While each Brown Cafe in Phnom Penh reflects consistent architectural and interior design themes, all embrace their own individual spin; a franchise style that the Phnom Penh cafe culture seems to have wholly accepted. Urbanland consistently separate themselves from rival projects with their attention to detail and sleek, usable design, and this is clearly demonstrated at the highly popular outlets of Brown Coffee, each humming morning and night with coffee-sipping Phnom Penhers. Meanwhile, both of Urbanland’s condo developments have heralded popular success too, for many of the same reasons. Both Embassy Residences and Embassy Central were not only shortlisted for the Cambodia Property Awards 2016 on 25 February but in fact both were awarded top in their entered categories. Embassy Residences was awarded the “Best Condo Development in Central Phnom Penh” award at this year Cambodian Property Awards series, and both Embassy Residences and Embassy Central were awarded the “Best High Rise Residential Architectural Design” prize. Upon winning the awards, Victor Huot, Urbanland's Marketing Manager said: "Being a new developer, we feel that we can separate ourselves by focusing on creating great quality spaces that we know this market needs and being awarded the top prize for both our projects gives us the confidence to keep heading in that direction." Urbanland enters all of their projects with a clear and uncompromising vision, and this confidence and demand for quality is impressing buyers.Embassy Central, an 119 unit, 25 storey condo, holds a prime location in Boeung Keng Kang 1 (BKK1), Cambodia’s classiest suburb and home to some of the city's best shopping, eating and entertainment venues. Residents can enjoy the swimming pool, multi-function room with courtyard, fitness center, sauna, outdoor dining area, and - unique to this development - residents will find some reprieve from the buzz and the heat of the inner city with the help of four idyllic sky-gardens. The project nearest completion, Embassy Residences, an 85 unit, 18 storey complex located to the south of Norodom Boulevard, shall feel the beating heart of Phnom Penh’s CBD. Facilities include guard house, underground car park, swimming pool and sundeck, children’s play center, fitness centre and lush sky garden. All condo units within Embassy Residences are furnished to the very highest standard and decorated in modern taste. "As a young local team, our mission is to help shape the landscape of Phnom Penh by creating buildings and spaces that inspire people and through this, we hope that people will start to demand quality designs and products like Embassy Central," said Victor Huot, Marketing Manager at Urbanland. Want to find out more about Urbanland’s projects currently for sale on Realestate.com.kh?Check out the full listing for Embassy Residences; and the exciting new project: Embassy Central.

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) will launch this April 1st at the Phnom Penh Hotel, 8:30am until 5:00pm, with a host of the local and regional industry leaders giving their outlooks on the state of the Cambodian real estate market.  Realestate.com.kh caught up with the speakers of REMOC2016 to get their 2 cents on the state of the current and future Cambodian property market prospects.Mr. Sim Hoy Chhoung, ceo, V Trust Appraisal Co. Ltd:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC2016 I will be speaking about property valuation industry and practice, and its importance in Cambodia. Of course, property valuation should be considered the heart of all the real estate activities and a key to developing our industry. This means that brokers and salespeople serving their clients should have a good understanding of valuation; the concepts, practices and methodology. A seller’s unrealistic asking price is a roadblock that an agent should avoid to save time and effort! Because banks take property as collateral to secure loans, weaknesses in valuation processes in the booming years could lead to a banking crisis later on, as we see from lessons learned from the Central Bank of Ireland study 2012.What were the most significant developments for the property market over the last year?Last year was the year of the condo and retail development. Thousands of units of condo launched and international grade shopping malls starting construction. These new developments still drive land market prices higher and higher until late last year.What makes you optimistic and what worries you about the Cambodian real estate market?Personally, I would not be worried about the real estate market for the year to come. The market will correct itself. In addition, compared to other countries, Cambodia still has a strict credit limit on mortgage loan and interest rates are high, and terms are shorter (below 70% credit availability while other countries are up to 80% or 90%). Let’s imagine what is going to happen if banks can increase the limit, lower interest rates or extend the terms... Or alternatively, if the government did some things to benefit the condo market such as taxes incentives… Steps like this could add more liquidity to the market and quickly boost it.What significant changes are you anticipating for the Cambodian real estate market over the next year?There will be a market correction in some subsectors and a switch of project development proposals toward the sub-sector’s that exhibit continuously high demand. The only thing that we all should know is that the market space is becoming narrower; so before committing to doing a development project, there needs to be a detailed market and feasibility study. And Vtrust is here to help in this regard. As I mentioned earlier, there are still room for policy makers to manipulate. So over the next year, the market can remain stable, one way or another.Thida Ann, senior associate director, CBRE Cambodia:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? CBRE are really pleased to be involved in the conference and will have two speakers discussing the commercial office market and also Phnom Penh's Serviced Apartment Market. CBRE will aim to provide attendees with new insights and outlooks into these key sectors through our active market participation as the leading international property advisory firm in Cambodia.What were the most significant developments for the property market over the last year? 2015 marked another extremely active year in the Cambodian property market with all sectors seeing significant activity. To run through a few key trends; CBRE tracked land price appreciation at approximately 8.4% across central districts. New mid-rise office developments that came on stream through 2015 saw strong take up and grade B and C rents increased by 6.2% and 2.3% respectively. 7,014 condominium units were announced across 26 buildings in 2015 bringing total future supply due for completion by 2018 to 21,414 units. Chamkarmon saw the greatest number of project launches announced with a 37% share, secondary locations such as Sen Sok and Chroy Chang Va accounting for 15%. Occupancy in serviced apartments held strong at a healthy 90% with occupancy keeping pace with supply.James Padden, Commercial Agency Manager, CBRE Cambodia:What makes you optimistic and what worries you about the Cambodian real estate market?CBRE are optimistic about the office market. Exchange Square is due for completion in Q4 16 and has seen strong interest locally and regionally highlighting growing demand for grade A space in Phnom Penh. Increasingly we are seeing interest from companies in office space in secondary cities such as Sihanoukville, Battambang and Siem Reap highlighting that Cambodia is not all about Phnom Penh but these provincial cities are seeing strong economic growth in their own right.I think there is a need for caution regarding the residential market and we are yet to see strong domestic owner/occupier demand that is required for condominiums to really drive the market forwards. Existing investment is predominantly by overseas investors looking for capital growth. This market will be driven long term by Cambodian occupiers and this has been slowly changing but is yet to become a clear segment of demand.What significant changes are you anticipating for the Cambodian real estate market over the next year?We have seen the announcement of strata title office space for the first time in 2014 and this is a welcome trend with this asset being a popular investment in other markets such as Hong Kong and Bangkok. There will be further segmentation of the office market as Exchange Square adds to grade A office stock. High prices and limited availability of land in prime, central areas is likely to continue the trend for development in secondary locations such as Sen Sok and Chroy Changvar. I think we will also see continued development and investment activity in provincial cities such as Sihanoukville, Battambang and Siem Reap. Overall we expect 2016 to be a year of a lot of activity driven by Cambodia’s continued strong economic growth and further bolstered by the movement towards ASEAN integration as there is continued intra-ASEAN investment and regional expansion of businesses out of their home markets.Chrek Soknim, CEO, Century 21 Mekong: What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At the upcoming REMOC-2016 on 1 April, I’m going to talk about the most updated Phnom Penh's Condominium Market and Trends, with Most Insights into Primary Market, Supply, Demand, and Key Successful Factors for Developers.Condominium isn’t a nascent market anymore in Phnom Penh. It’s been here now eight years, yet there are many things for developers, buyers and key players to carefully learn to get into the market insights so that they can gear to the right paths for this real estate subsector. What were the most significant developments for the property market over the last year?I believe condominiums are one of the solutions to curb with heavy traffic, increasing land prices, convenience, and a quick pace of modernizing living standards among young white-collar generation. However, with an excessive influx of condominium launches last year, the market now becomes stiffly competitive while it also offers numerous choices for buyers.What makes you optimistic and what worries you about the Cambodian real estate market?When looking at the Kingdom’s market absorption rate at an average of 32.4 months, in recent months it’s started to slow down and this needs a careful analysis on local demand, affordability, and trends, instead of relying solely on foreign market comparisons when a new developer wants to enter into condo market.What significant changes are you anticipating for the Cambodian real estate market over the next year?The condo market will suit the young generation and fulfill to their lifestyle demands. This sector will grow very fast if financial support comes from financial institutions providing the easy conditions to afford to buy condos. It is also the open market for the foreigner, which will help to supplement this sector’s growth.Kuy Vat, chairman, CVEA; chairman and ceo, Century 21 Cambodia:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC-2016 to be held on the 1st of April, we’re going to talk about general views on real estate sector, addressing opportunities and challenges for this year and the years to come.Bolstered by a gradual growth of our economy, we’ve seen that the real estate market is growing bigger and bigger, as it is so to meet the rising demand for housing, office space, retail space as well as industrial amenities, just to name a  few.  With lots of improvements in this industry so far, the year 2016 sees many opportunities despite emergence of some challenges that might somewhat cool down the market heat, for example, the condominium market. So far we’ve heard that there’s some sentiment over the condominium market, for instance, that has come with too many, resulting in stiff competition for developers to sell off their projects. But to me, I’ve got a different point of view. First, this will create jobs for local agents who are asked to help developers sell off their units. Second, through numerous available suppliers, it offers an opportunity for foreign investors to come over to our country and enjoy the newly available infrastructure and amenities currently or to be soon in place. Mr. Kim Heang, president, CVEA; ceo, Khmer Real Estate:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At the upcoming REMOC2016, I’m going to talk about situation of real estate industry and address the challenges and suggestion for future improvements in this sector.Construction and real estate sector plays an important role as an economic driving engine by increasing its economic influences on the country’s economy, especially providing construction jobs to about 10,000 workers throughout Cambodia and spillover impacts on several other economic sectors. We appreciate our industry leaders as well as key players for their effort in bringing construction and real estate sector to this point.Nevertheless, without some changes, unity and strong cooperation among the players to further improve and perform best practices for the industry (for instance, valuation subsector), we can hardly develop this sector to become a key leading industry for our country’s economy. Therefore, we have to address opportunities and key challenges for all of us to solve and improve so that everyone in the industry benefits.Hoem Seiha, Director of Research, VTrust Appraisal Co., Ltd:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC-2016 to be held on 1 April, I’m going to present to the audience about the macro perspectives on real estate industry. Developers, policy makers and related key stakeholders need sound knowledge and in-depth insights into real estate sector at macro level so that they can together work to develop and, if any, curb with challenges in the sector.Construction and real estate sector has recently grown its importance to overall economy by contributing to creation of tens of thousands of jobs, pushing demand on mortgages to rise by 19 percent in 2014, and attracting US$ billions of real estate related FDIs that have spillover impacts on many other economic sectors.With my future outlook for this sector, even though real estate market has grown so quickly that it might pose potential risks and growth volatility, I foresee this sector will soon create a new economic engine alongside with the country’s key leading sectors such as garment, tourism and agriculture.Sorn Seap, ceo, Key Real Estate:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC-2016, I’m going to present about the most updated Phnom Penh’s land market, going in-depth into market prices, zoning and development trends in the future.Phnom Penh land prices continue to rise up by 10 to 20 percent a year. Nevertheless, the whole Phnom Penh has many areas that see different price growth rates depending on many factors, including zoning, planned infrastructure, and location special features.Over the last 10 years, I’ve seen that Phnom Penh has expanded quickly. Residents not only concentrate in central business zones but also spread out to form new clusters of housing in the outskirts – with some areas are now home to tens of thousands of residents. Other locations, furthermore, will also have the same experiences in the next few years.Sung Sina, Director, Bonna Asset Appraisal Department:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? Industrial Estate Market, with Most Highlights on Supply, Demand, Market Performance, Zoning, and Future Trends, and Opportunities. Thirty Years after the genocide, Cambodia is just beginning to recover. The garment industryis the country‘s main industrial activity in Cambodia. The main topic will consider the heavy traffic jams developing on the outskirts of Phnom Penh (National Road Number 2, 3, 4, 51, 41, 6A, PPSEZ, Sihanouk SEZ, Bavet SEZ and Other SEZs). I will also consider how to reduce the pollution on the environment, the need for good infrastructure and ways in which we can bring the profit to the villagers in that area. What were the most significant developments for the property market over the last year?  Over the last year, I believe condominiums are one of the solutions to the rush traffic jam, increasing the land prices, convenience, and a quick pace of modernizing living standards among the young generation. However, with an excessive influx of condominium launches last year, the market now becomes stiffly competitive while it also offers numerous choices for buyers. On the other hand, the industrial estate market is located on National Road Number 2, 3, 4, 6 and National Road Number 51, with an excessive influx and new built of factories and warehouses for Chinese investor. What makes you optimistic and what worries you about the Cambodian real estate market? When looking at the Cambodian real estate market averages increasing 5 to 10 percent for 2014, 2015 and 2016. Since last month, it has started to slow down - and this needs careful analysis on local demand, affordability, and trends; instead of relying solely on foreigner market comparisons when a new developer wants to enter into the condominium market. On other hand, with the industrial market increasing year to year, the market now becomes stiffly competitive. Yet, it also offers numerous choices for the renter. What significant changes are you anticipating for the Cambodian real estate market over the next year? The condominium market is increasing the land prices, convenience, and a quick pace of modernizing living standards among the young generation to fulfill to their life style for living. This sector will grow very fast. But the banking and microfinance sector must provide the loans with easy condition so normal Khmer can afford to buy the condominium. It is also the open market, based on the Cambodian Regulation for the foreigner, that will help to push some part of the sector to grow. Don’t miss out on REMOC2016 - find out more details HERE.

D’Seaview brings Sihanoukville’s first fully integrated residential and commercial mixed development, located alongside Sihanoukville’s most beautiful beaches.D'Seaview is selling fast! Inquire todayWith its twin towers standing at 28 storeys each, D’Seaview will bring a collection of premium executive condominiums, commercial units and a hotel to Sihanoukville’s pioneer integrated living complex.The official opening ceremony for the Camhomes’ Sihanoukville office will be held on Saturday, March 26, 2016 - This Saturday!The location of the office, where the opening ceremony will be held, is at Independence Street, beside the 2 Golden Lion Roundabout, Sangkat 4, Khan Mitipheap, Sihanoukville City. This Saturday’s opening ceremony will open to the public from 8:30AM. The chief guest of honour will be Oknha LAV Kang, from the Sihanoukville Chamber of Commerce, will also be sharing about Sihanoukville’s 5 year real estate development plan at the ceremony. With the opening of Camhomes’ Sihanoukville sales office, Camhomes can now provide investors more close proximity information about D’seaview and other Camhomes’ projects. Residents of D’Seaview can expect to live, work and play within the integrated commercial mixed residential development complex in the future, with their daily needs and desired lifestyle fully satisfied within the compound. The first phase of residential units in D’Seaview have already been fully subscribed with its second phase gaining more subscriptions everyday. D’Seaview is also supported by Camhomes’ unique Guaranteed Rental Returns offering: a significant 30% GRR over three years. With the booming tourism industry in Sihanoukville to both local and international visitors, D’Seaview’s integrated hotel and its local shophouse-style blocks are also open to bids from investors and Cambodian retailers looking to maximise their investment returns. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showrooms in Phnom Penh at the Canadia Tower, level 3, or in Sinhanoukville and talk to their property consultants, or check out the full listing information online at realestate.com.kh. And if you are in Sihanoukville this weekend, don’t miss the D’Seaview opening ceremony on Saturday morning. To find out more information about the Camhomes’ Sihanoukville Office Launch, please call +855 23 985 828 today.

The CVEA tour group's itinerary included conferences with the Institute of Estate Agents of Singapore (IEA), the Royal Institution of Chartered Surveyors (RICS Singapore) and the Universiti Teknologi Malaysia (UTM) in Johor, Malaysia. While visiting the IEA on the 4th of March, an association of real estate agents in Singapore much like the CVEA in Cambodia, a MOU agreement was signed. The purpose of the MOU “is to provide for exchange, representation, and other mutual benefits…” between the two professional associations. CEO of Towncity Real Estate and Vice President of the CVEA, Van Chanthorn, said that, “the benefit of this MOU for members of CVEA is that all CVEA members can connect directly to IEA members that have 1000 members to cooperate, promote and sell the projects that they have in Cambodia. Meanwhile, Members of the IEA in Singapore can connect directly to CVEA’s 86 member companies to cooperate and bring customers to buy the projects in Cambodia.” The agreement hopes to facilitate the sharing of ethics, real estate and valuation practice standards, and to actively encourage and facilitate business opportunities between the two association's membership. The MOU also calls for an annual exchange of information between the two parties in the form of trade junkets and conferences. Chanthorn notes that, “it is part of a longer term strategy for the CVEA. CVEA is not only focusing on the benefit sharing between IEA and CVEA but we also focusing on training and learning from each other on how to improve our members’ knowledge and experience to compete with not only in Cambodia but throughout ASEAN and Internationally.”

Condominium sales saw a slight decline in 2015, despite the rise of supply in the market and there is speculation that this pattern may seep into 2016.A 2015 CBRE report noted that the number of condos sales decreased last year largely due to investor concerns around uneven supply and demand in the market, and that many local investors prefer villas over condos. See our recent article Villa vs. Condo. In a recent Realestate.com.kh story on the real estate market predictions for 2016, Simon Griffiths, Associate Director at CBRE Cambodia stated confidence in the Phnom Penh real estate market  particularly in the condominium market, may remain low within Cambodia due to oversupply and too-rapid growth causing over-saturation, ultimately heightening exposure to risk.  [caption id="attachment_81456" align="alignleft" width="205"] Anthony Galliano[/caption] Anthony Galliano, CEO of Cambodian Investment Management adds that despite speculations of decreased confidence the market is still healthy, "The price acceleration in 2015 made Phnom Penh one of the top performing real estate markets in Asia for both commercial and residential property, and has only encouraged both investors and developers to further participate in market.  Although Cambodia has been impacted by the ups and downs of the global real estate market, it hasn’t had enough of a scale-able real estate market of its own to experience cycles, and real estate is very cyclical.”  [caption id="attachment_78669" align="alignright" width="255"] Ross Wheble[/caption] Ross Wheble, Country Manager of Knight Frank Cambodia predicts that the supply of condominiums will increase by more than six-fold by 2018 which could drive a slowdown in sale rates of condominiums, leaving developers looking for alternative asset types to appeal to investors. It seems that the writing is on the wall with warning signs of a serious oversupply issue by 2018. However, it’s not just investors having these concerns. It seems the banks are too. “Some banks will then tend to take a more conservative view on lending money for condo’s when there is an oversupply as most of these condo’s are purchased for investment purposes, not for owner occupation,” says Joe Phelan, Head of Personal financial Services at Hong Leong Bank Cambodia.  [caption id="attachment_81446" align="alignleft" width="300"] Stephen Higgins[/caption] “If I was bank, I would be extremely cautious about lending to the condo market at the moment,” adds Stephen Higgins, Managing Partner at Mekong Strategic Partners investment firm, “There appears to be a serious oversupply of apartments emerging, which will only get worse given the current level of construction that we're seeing. That means there is likely to be downward pressure on condo prices in the coming years, and that naturally makes banks cautious." Phelan notes that most banks in Asia know if a customer encounters problems with servicing their loan repayments for their owner-occupier home, they will do everything it takes to rectify the situation. But if something was to go wrong with an investment property venture; this comes with more risk for the lender. “To make matters worse for the bank the oversupply of condo’s just makes it even harder for a bank to sell this property (if it is taken as security) through the legal process as there will be a very limited secondary buyer market out there for condo’s,” explains Phelan, “It could take 3-4 years to sell this property and no bank wants an impaired debt on their books for that long as it will hurt their bottom line too much”.   [caption id="attachment_81084" align="alignright" width="300"] Joe Phelan[/caption] But buyers shouldn’t be alarmed just yet.  Phelan adds that if the condo was being purchased for owner occupation in the right location, then most banks would still consider lending money to the customer for the condo just as they would for a landed property. Galliano adds, “The concerns expressed by the government on a potential property bubble on several occasions and the construction sites that litter the skyline may be a prophecy of a peak in prices for now and the downward trajectory of prices to come. Investors may want to sit tight on buying and take advantage of anticipated low rentals as a significant supply of empty apartments will be seeking tenants."  [caption id="attachment_80510" align="alignleft" width="225"] Simon Griffiths[/caption] In response to governmental concerns, banks are adjusting lending overall in Cambodia’s current economic climate so as to avoid a future credit crunch. Banks are taking a conservative approach to counteract rapid credit growth and its associated risks as a preventative measure. This retraction is only a positive for the market in the longer-term adding to its sustainability and healthy growth.Learn more about Home Loans in Cambodia, on Realestate.com.kh today!Learn more about the Cambodian Condo Market, or Realestate.com.kh today!

CBRE’s 2016 Global Investor Intentions Survey is the culmination of interviews with more than 1,250 major investors worldwide. The 2016 CBRE survey shows that investors are still strongly expansionary, reaching outside of their local markets, with 82% of respondents indicating that their external investment activities will be the same or greater compared to 2015.“The report highlights global investors’ clear appetite for expansion, with 82% of respondents indicating that their investment activity will be the same or greater compared to 2015. 37% of those surveyed stated capital appreciation as their principal requirement, combined with a renewed focus on core assets benefiting from consistent revenue streams," said Chris Hobden - Manager of Research, Consulting & Valuation at CBRE Cambodia.While there is currently limited existing stock of significant, income-bearing commercial assets being offered in the Phnom Penh market, we saw a clear rise in interest from international groups in exploring such opportunities in country over 2015. As the local market develops further, and a greater diversity of stock comes on stream, we feel that Cambodia will be well placed to draw attention from the 4% of major global investors noting ‘Emerging Asia’ as their primary focus for investment over the course of the year,” continues Hobden.Property returns are particularly appealing in low‑yield world according to the CBRE report: “The single most important motivation for investment in real estate is the expectation of capital gains: 37% of respondents state this is their main reason for investing in the sector (Figure 14). Americas based investors are more interested in this component of return than those of other regions. This said, 25% of global investors mention the steady income from rents and a further 15% say yield relative to debt or other asset classes as their top motive. EMEA-based investors have a relative preference for income and yield. Asset class diversification is most important for 11% of investors, but only 3% state that geographic diversification is important. As interest rates in some areas of the world head into negative territory and are set to remain lower for longer in others, we suggest returns will continue to attract capital even if there is only modest rental growth.”Check out a cool infographic on Retailer trends in Southeast Asia, also from CBRE

CBRE Research Southeast Asia has released the results of the 7th edition of the “How Active are Retailers report”. Within this report, statistics suggest that 26 percent of all global retailers surveyed identified Southeast Asian countries as primary target markets for 2016.CHECK OUT THE FULL INFOGRAPHICRetailers primary interests in the Southeast Asian region appear to focus on Mid-range Fashion and Luxury & Business retail sectors. [caption id="attachment_81434" align="alignleft" width="225"] Muyngim Lim, CBRE Cambodia[/caption] 48 percent of retailers particularly targeting the Southeast Asia economies come from Europe, ahead of the North America and Asia Pacific regions. "The fact that 26% of global retailers surveyed identified South East Asia as a target market for 2016 expansion is highly encouraging, with European mid to high-end fashion retailers showing particular interest. While Cambodia is yet to attract the level of interest enjoyed by more developed South East Asian markets, 2% having noted Cambodia as a target market for this year, with the arrival of new high-quality shopping malls, combined with growing domestic disposable income, we are optimistic that Phnom Penh will continue to benefit from new retailer entrants over the course of 2016,’’ said Muyngim Lim, Analyst at Research, Consulting & Valuation at CBRE Cambodia. In regards to potential effects on retail supply in Southeast Asia, according to the CBRE report, 65 percent of retailers have typical store size requirements of less than 500 sqm. It is not all smooth sailing though for retailers targeting Southeast Asian countries; Cautious sentiments prevail with the majority of surveyed retailers targeting to open less than 10 stores in any chosen Southeast Asia country. The top five major risks for retailers in Southeast Asia were UNCLEAR ECONOMIC PROSPECTS, COST ESCALATION, CURRENCY FLUCTUATIONS, LACK OF QUALITY RETAIL SPACE, LACK OF QUALITY RETAIL SPACE & CHANGES IN CONSUMER BEHAVIOR. Learn more about Phnom Penh Retail Space!CHECK OUT THE FULL INFOGRAPHIC

AXIS RESIDENCES is proud to be the First Cambodia Development by a Singaporean Developer to receive the 'Highly Commended Award' for the “Best Condo Development (greater Phnom Penh)” at the inaugural Cambodia Property Awards 2016, part of the Asia Property Awards series.And why not? Axis Residences is proving to be a trailblazer in the Cambodian developments market - setting the benchmark with a host of innovative design, finance and quality features.Axis Residences is the pioneering condominium in Phnom Penh to adopt sustainable solar PV technology (Solar Panels) into the development.By doing so, Axis Residences will be the first and the only condominium in Cambodia that incorporates this innovative green feature that benefits the buyers with both a stable electrical supply and a reduced utility and maintenance bill. It is also nice to know that your home is supporting the reduction of carbon footprint for our mother earth and elevating a cleaner Cambodia into the new century.By utilizing clean renewable energy from the sun, all residents at Axis Residences benefit from cheaper maintenance rates and likewise reduce the carbon footprint of the condo in its entirety. The green energy generated from the rooftops of Axis Residences reduces CO2 emissions equivalent to that of 3222 trees every year. Axis Residences is the forerunner for new quality condo developments in Cambodia – and firmly believes that innovation as such will pave the way for future condo and commercial developments in considering the incorporation of clean sustainable energy sources in their design.The sleek and contemporary design of Axis Residences is also impressing Cambodian celebrities and film makers. Recently, the renowned film production company, Hong Meas HD TV, has been using the Axis Residences showroom to film various drama series and movies.The directors and producers of these productions are well-aware that the younger generation of Khmer are craving a higher standard of living, and a taste in design style that the market currently sorely lacks. Because the Axis showroom epitomizes the style and quality that the new generation of home buyers are craving, and feature brand name appliances and fixtures throughout, it is only natural that Axis Residences should be the ideal location to film these popular films and drama series.Spring CJW, the renowned Singaporean development company behind Axis Residences, however, is well-aware that many younger Khmer interested in purchasing their first condo home currently lack access to sufficient finance to make such a dream a reality…With that in mind, Spring CJW has created a very attractive 15 year end-financing package in partnership with Phillip Bank, uniquely designed for their customers. As the payment schedule for this loan is based on each construction stage, off-plan buyers will only have to pay as each stage of the development is completed.The Partnership between Axis Residences and Philip BankThe Phillip Bank loan package, available to Axis Residences buyers, only charges interest for the amount that is supposed to be paid. For example, if the sub-structural phase of construction is competed, just 10% has to be paid to the developer by the end-buyer. This means that customers who purchase via the Phillip Bank loan will only need to incur interest for that initial 10%.This is not a common practice at all in Cambodia, as most projects will charge the loan interest on the full sum owing, and few banks are willing to support condo buyers. Not only that but, again uniquely, the principle sum for the Phillip Bank loan will only be payable at the completion of the Axis Residences project in its entirety, which is around 2 years later. Customers who use the Phillip Bank loan option will thus be looking at only around a $90 installment payment per month for the first year.This is not only affordable for young buyers, but acts as a guarantee that the project is completed to the promised standards, in the promised timeframe. Although this is Spring CJW’s first condo project in Cambodia, they have entered the market to stay – and customer-friendly initiatives such as this are a testament to that!At Axis Residences, younger buyers are offered a chance to secure a state-of-the-art home on finance terms that they can genuinely afford. This is a golden opportunity for young couples to own a new home with a lifestyle that will be the envy of their peers for many years to come.If you would like to learn more about Axis Residences, click HERE to check out the full listing on Realestate.com.kh today.Inquire directly with Spring CJW and join their friendly and knowledgable property consultants right here in Phnom Penh for a tour of the famous Axis Residences showroom.Click HERE to request an information pack today!

Taking a stroll around Phnom Penh is enough to show anyone that the real estate and construction sector is booming. Investments have risen from US$840 million in 2010 to US$ 2.7 billion in 2013.But did you know that approximately 30 per cent of the workers on construction sites are women?Women, along with men, are building Phnom Penh and it’s important for them and their families that they are treated fairly and protected. That’s why CARE International is undertaking the EU-funded project: Labour Rights for Female Construction Workers. The project aims to enhance protections for women in the construction sector and builds upon CARE’s proven history of improving women’s working lives in the hospitality and garment industries. This project is a chance for responsible construction companies and developers to work with CARE to make sure investing in real estate is investing in the community. Interested private sector partners can take part in this project with CARE on to build up their corporate social responsibility portfolio.But beyond CSR, investing in women has been found to make good business sense. When companies invest in their female workers, they are much better placed to notice talented individuals that can contribute more. Why waste the potential of your women workers when, with the right support, they could be your best employees?CARE’s approach in this construction project is threefold. CARE, through local partners, will work with women directly to improve their capacity. This will include facilitating peer-to-peer training to help women understand protections in place, their own potential and encourage them to make the most of work in construction. It will also include educational resources that will be offered for free to workers.By engaging with employers and peak bodies, CARE will help construction companies and developers to invest in the human capital of their female workers through providing training to managers and human resources personnel. CARE will work with women workers and the private sector to facilitate avenues of communication between managers and women workers to provide managers with better understanding of the specific situation of their female workers. To complement these approaches, CARE will also work with Government stakeholders to improve institutional protections.CARE is looking for industry partners in the real estate and construction sector to be part of this project.If this is something that interests you, please contact the Project Manager, Ms Kalyan Rath, at kalyan.rath@careint.org or Adviser, Ms Adriana Siddle, at adriana.siddle@careint.org.

As HLH Group’s maiden housing development D’Seaview gears up for Phase 2 of its development – after having had all 300 of its residential units fully subscribed in Phase 1 since its launch in September 2015 – it will simultaneously be introducing Sihanoukville’s largest shopping mall.SEE THE FULL LISTING The shopping mall, comprising a colossal 20,000 square metres of retail space, will be situated right next to D’Seaview. Slated to be the trendy uptown area of Sihanoukville, with D’Seaview being a mixed-use development that encompasses 737 residential units and numerous commercial units suitable for an array of businesses, the shopping mall will be an enticing complex to complete both residents’ and non-residents’ entertainment and shopping needs. The mall will hold such amenities as food courts, bars, health and wellness centres, beauty salons, mini-marts and financial institutions. The development will also incorporate an integrated hotel to capture Sihanoukville’s growing popularity as Cambodia’s premier beach town. [caption id="attachment_81305" align="alignleft" width="472"] Local celebrity Khieu Sansana[/caption] “Given the country’s positive GDP growth of about 7 per cent annually, Cambodia’s economy remains vibrant and attractive to both local and foreign investors. Located next to D’Seaview, the mall will provide retail space for shopping and entertainment, making it a magnet for visitors and locals,” said Dato’ Dr Johnny Ong, CEO of HLH Group. He added that the mall will not only be popular for shoppers, it will also provide the development with an additional revenue stream. “We are currently seeking experienced mall operators for sale,” said Dato’ Dr Ong. While Sihanoukville has been pegged as the next hotspot in Cambodia not only for property investments, tourism has taken off with more flights landing and with the potential to become a fixture on the cruise ship circuit, HLH Group’s inaugural shopping mall could not have been more timely. Dato’ Dr Ong also noted that the addition of this shopping mall will add more activities to the city, a problem that has long been lamented when engineering Sihanoukville’s attractiveness as a destination. Popular TV personality KhieuSansana, who had recently subscribed to one of D’Seaview’s units, said that she believes Cambodia’s ASEAN integration plays an imperative role in attracting regional visitors to Sihanoukville. And as a constant traveler herself, she would also be able to lease her unit out to locals and foreigners who come for leisure or business while generating revenue from her personal investment into such a prime residence. With D’Seaview being only a five-minute stroll from the tranquil and scenic Sokha Beach – one of Sihanoukville’s many sandy white beaches of crystal blue waters – property market watcher and investor Clement Dupont said that the development will elevate the city’s image to one of luxurious liveability, compared to other run-of-the-mill seaside holiday destinations. “People will realise that Sihanoukville is a worthwhile place to invest in and attract homebuyers who are looking to live and work in a comfortable and classy environment, as the city’s economy grows from year to year,” Dupont said. Set to capitalise on the Kingdom’s trade and manufacturing sectors by having the country’s only deep-sea port, as well as a forthcoming 190-kilometre long and 25-metre wide expressway on National Road 4 linking Phnom Penh and Sihanoukville, the city has advantages coming from all directions. With D’Seaview’s location at the pulse of the city, HLH Group’s mall will garner interest from international and national retailers. SEE THE FULL LISTING

To cope with the city’s expansion and rapid growth in vehicles, more infrastructure projects are expected to be completed in Phnom Penh before 2020. At the grand opening of the 5-January Overpass (Techno Overpass), Prime Minister Samdech Hun Sen approved several more projects for the capital. After acknowledging the ongoing congestion at the Kbal Thnal Sky Bridge, construction will start soon on an additional curved overpass and underground road near the existing bridge. The US$10 million project will see an 810 metre overpass and a 606 metre underground built by the Overseas Cambodian Investment Corporation (OCIC). This is a great boost for Phnom Penh infrastructure! An underpass at the junction of Russian Federation Blvd and Preah Monivong Blvd (PKC stop) will also be constructed by OCIC to ease traffic in the vicinity. The plan features a 340 metre long, 15 metre wide road running through a 5 metre high tunnel. Following a successful soil analysis conducted on January 8, construction will commence later this year. Another overpass will be erected at the congested intersection between Russian Federation Blvd and Hanoi Street reflecting the significance of Russian Federation Blvd as the main artery connecting the city centre and the airport. The bridge is to be 611 metre long and 16.5 metres wide and will be built by Chinese Shanghai Construction and financed by the Chinese government. Phnom Penh will see also its first elevated expressway that will stretch 13km above the existing rail line connecting Preah Monivong Blvd and the international airport. The toll road will help ensure air passengers do not miss their flights due to congestion. While City Hall previously announced that the project is being developed by a Chinese investor, it appears that OCIC is also negotiating with City Hall to win the bid for this project.   Muhibbah Engineering (Cambodia) Ltd has also claimed to have won the bid to build a $200-million expressway connecting Phnom Penh’s downtown to National Road 4 and the capital’s airport. Stretching over 14km, the 24 metre wide, 4 lane highway will also run parallel with the current rail track that connects Toul Kork Roundabout to National Road 4. The Phnom Penh infrastructure project will commence soon once compensation to affected households has been completed this year.   A 220km highway linking Phnom Penh and Ho Chi Minh City worth around US$2.2 billion proposed by the Japanese International Cooperation Agency (JICA) has also been announced with completion hoped for by 2030.   The capital will also see construction of a second ring road that will run 16.67km across two lanes from Russian Federation Blvd to National Road 2 across the districts of Dangkor, Sen Sok, Meanchey heading south to Takmao town, another boost for Phnom Penh infrastructure. The road will be built by Chinese Shanghai Construction via Chinese government financing. Built with 20-cm thick concrete it will be 23 metres wide with a 1.5 metre drainage system on both sides. The exact starting and completion dates for all these projects are not yet known. While the government is pinning its hopes on more infrastructure solving congestion, urban planning expert Dr. Van Vat told the Phnom Penh Post that infrastructure projects alone can’t mitigate the jams.  “To avoid this problem, we need to have a detailed plan for each district as to which roads need to be expanded in the next five or ten years, and which roads will have overpasses,” he stressed, adding that, “If we don’t do that, the congestion issue will continue.” Dr. Vat also requested the government to limit vehicle imports and design and implement appropriate traffic light systems. This article was submitted by: Tim Vutha, Construction and Property Magazine [caption id="attachment_81252" align="aligncenter" width="229"] Download Issue 20 of the Construction & Property Magazine today![/caption]

Century 21 Cambodia through its Global Strategic Business Development Team seeks to strengthen the Real Estate Investment Opportunities with Century 21 Taiwan. As the Cambodian market continues to grow both in demand, developers and investors are seeking to diversify their options and target options that offer lucrative long-term success. This week, Century 21 Cambodia, along with Local Franchise Office Century 21- Dream Property, is scheduled to travel to Taiwan to meet with their Franchise counterparts to discuss ways of networking clients from both countries to increase investment and sales through the Global Sales Structure Century 21 franchises has to offer, both in Cambodia as well as Taiwan.Taiwan’s interest in this region has been noted with purchases into projects such as Bali, Suncity Bassac, and others continue to extend its desire for investment returns that are not so easily presented in a traditional real estate investment market.As the real estate industry in Taiwan remains at a fixed level of real estate investment returns, the need to find new and better return on investment for clients has become a part of their office’s interest to reach out and find investments around Cambodia. According to China Post, offices in Taiwan continue to be set up in search Condominium investment growth in Cambodia.This trip for Century 21 Cambodia will be another one of several recent visits to neighboring countries. These visits add to this year’s goal of finding ways to create opportunities for Century 21 franchises to cater to clients buying or selling around Cambodia. With the rare opportunity of Phnom Penh growing at its current rate, Century 21 Cambodia seeks to support its franchise offices, by networking with Century 21 global offices and fill the need to find clients for these development units.

4 March 2016, Singapore – Knight Frank, the independent global property consultancy, today releases the Prime Asia Development Land Index for H2 2015. The index derives the price of prime residential (apartment or condominium) and commercial (office) development land in 13 major cities across Asia.Knight Frank Prime Asia Development Land Index shows prices of residential sites in the region appreciating 3.0% in H2 2015, up from the 1.2% seen in the previous six months. On the other hand, the price growth of office land slowed to 1.5% from 3.6%Report highlights:H2 2015 witnessed development land investment volumes in Asia rise by 14.1% year-on-year.Cross-border volumes increased by 55.3%, driven by intra-Asian investment flows.China bought almost two times more land in the rest of Asia.While the average price of a piece of development land has been climbing steadily since mid-2012, the average land size has been shrinking. In Indonesia, the government’s efforts to tackle tax evasion is discouraging big-ticket purchases.Mr Nicholas Holt, Head of Research for Asia Pacific, says, “The confluence of easing construction costs and rising residential prices and office rents propelled Phnom Penh’s prime land prices upwards. Although the growth rates in H2 2015 moderated slightly from the previous six months, they nonetheless were among the fastest in the region.“Tokyo’s prime residential land index recorded the fastest growth among the cities tracked in H2 2015 – it is also the only market that outperformed Phnom Penh. With Japan joining the negative interest rate club, there could be more yield compression and price appreciation.”Download the full report!

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by RealEstate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home. Missed Part 1 or Part 2?On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal, about where to buy development land in Phnom Penh. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 3: WHAT ARE BEST AREAS TO BUY DEVELOPMENT LAND IN PHNOM PENH?Realestate.com.kh: What districts are the best to buy in in Phnom Penh for developers?  Say if you got a new developer client seeking consultation, which areas would you recommend buying land in now for a new development project?In Sitha: I think right now Chamkarmon District is one of the four districts of Phnom Penh that I would consider as the good place to invest at the moment and into the future. I think that's where to buy development land in Phnom Penh. Realestate.com.kh: Land's expensive right?In Sitha: Yeah, the land is little bit expensive but it's still good to invest. As you see, Chamkarmon District is the place with the most expats, restaurants and the prime hotel area of approximately 1,073.72 hectares. In this district, I consider two communes, BKK1 and Tonle Bassac, to be best to invest in.Realestate.com.kh: Which ones?In Sitha: Number one is Boeung Keng Kang 1 and number two is Tonle Bassac. You see, they are in the central area, so the southeast of Independent monument, and this district has a lot of wealthy residents, NGO, corporates, etc. And the landscape is very nice, very beautiful and wide, leafy streets. Realestate.com.kh: Will developers who choose to build in BKK1 increase their chance of higher rental returns?In Sitha: That's correct.Realestate.com.kh: Because of all the expats and lots of money in this area?In Sitha: In Boeung Keng Kang 1 and Tonle Bassac, there are many rich people. One unit of a serviced apartment with two bedrooms can be priced from 800 US to over 1800. Yet, ultimately, it is based on the quality and the design of the construction.Realestate.com.kh: Much, much higher than the rest of the country?In Sitha: Yeah, it makes it a good investment opportunity if for a one bedroom unit you can get almost 1000 to 1500 in rental returns. These areas offer easy access to all sorts of entertainment and food venues, and also the government institutions, hospitals, international schools and universities. This is a centralized area. Market price increases yearly so this is a very good place to invest in these two sangkats/communes.Loving it? Then you should watch part 4 now:WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERS coming soon