ย +85561 777 090
Logo

Recent Articles

Sothea Thang, Architech: "simplicity and strength through purity"
Sothea Thang, Architech: "simplicity and strength through purity"
June 6, 2022, 5:05 p.m.
Realestate News
Realestate.com.kh spoke with talented freelance architect & accomplished artist Sothea Thang about innovativeย architecturalย 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.ย 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 โ€œHappy Togetherโ€, 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.ย 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.ย 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.ย What is your design philosophy?Sothea Thang: Simplicity and strength through purity. Less is more.ย 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.ย  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.ย 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.ย 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.ย This interview has been edited for length and clarity purposes.
แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแž˜แžปแžแž˜แžถแžแŸ‹แžแŸ’แž˜แžธแžšแž”แžŸแŸ‹แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰
แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแž˜แžปแžแž˜แžถแžแŸ‹แžแŸ’แž˜แžธแžšแž”แžŸแŸ‹แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰
June 6, 2022, 5:06 p.m.
Realestate News
แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแž˜แžปแžแž˜แžถแžแŸ‹แžแŸ’แž˜แžธแžšแž”แžŸแŸ‹แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰แž–แžธแž˜แžฝแž™แž†แŸ’แž“แŸ†แžถแž‘แŸ…แž˜แžฝแž™แž†แŸ’แž“แŸ†แžถแž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰แž”แžถแž“แž•แŸ’แž›แžถแžŸแŸ‹แž”แŸ’แžแžผแžšแž˜แžปแžแž˜แžถแžแŸ‹แžšแž”แžŸแŸ‹แžแŸ’แž›แžฝแž“แž‚แžฝแžšแžฒแŸ’แž™แž€แžแŸ‹แžŸแž˜แŸ’แž‚แžถแž›แŸ‹ แž แŸแžŠแŸ’แž‹แžถแžšแž…แž“แžถแžŸแž˜แŸ’แž–แŸแž“แŸ’แž’ แžขแž‚แžถแžšแž–แžถแžŽแžทแž‡แŸ’แž‡แž€แž˜แŸ’แž˜แžแŸ’แž–แžŸแŸ‹แŸ— แž‡แžถแž–แžทแžŸแŸแžŸแž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“แž”แŸ’แžšแžŽแžทแžแŸ—แž‡แžถแž…แŸ’แžšแžพแž“แž”แžถแž“แž€แŸ†แž–แžปแž„แžšแžธแž€แžŠแžปแŸ‡แžŠแžถแž› แžŠแŸ‚แž›แžŸแžถแž€แžŸแž˜แŸ’แž™แž”แŸ†แž•แžปแžแž‡แžถแž˜แžฝแž™แž˜แž“แžปแžŸแŸ’แžŸแžŸแž˜แŸแž™แžแŸ’แž˜แžธ แž“แžทแž„แž”แžšแžทแž”แž‘แžšแžŸแŸ‹แž“แŸ…แž”แŸ’แžšแž€แž”แžŠแŸ„แž™แž—แžถแž–แžŸแŸŠแžธแžœแžทแž›แŸแž™แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰แŸ”แž€แžถแžšแžšแžŸแŸ‹แž“แŸ…แžšแž”แžŸแŸ‹แž”แŸ’แžšแž‡แžถแž‡แž“แž€แŸ’แž“แžปแž„แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰แž”แžถแž“แž€แŸ†แž–แžปแž„แžแŸ‚แž‘แžถแž˜แž‘แžถแžšแž“แžผแžœแž—แžถแž–แž‘แžถแž“แŸ‹แžŸแž˜แŸแž™ แž—แžถแž–แžฏแž€แž‡แž“ แž“แžทแž„แž€แžถแžšแžšแžŸแŸ‹แž“แŸ…แž”แŸ’แžšแž€แž”แžŠแŸ„แž™แž—แžถแž–แž”แŸ’แžšแžŽแžทแžแŸ” แž‡แžถแž€แŸ‹แžŸแŸ’แžแŸ‚แž„แž‚แž˜แŸ’แžšแŸ„แž„แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“แž‡แžถแž…แŸ’แžšแžพแž“แž”แžถแž“ แž…แžถแž”แŸ‹แžŠแŸ†แžŽแžพแžšแž€แžถแžšแž›แž€แŸ‹แž‡แžถแž•แŸ’แž›แžผแžœแž€แžถแžš แž€แŸแžŠแžผแž…แž‡แžถแž€แŸ†แž–แžปแž„แžแŸ‚แž…แžถแž”แŸ‹แžŠแŸ†แžŽแžพแžšแž€แžถแžšแžŸแžถแž„แžŸแž„แŸ‹ แž แžพแž™แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“แž‘แŸ†แžถแž„ แž“แŸ„แŸ‡แžŸแžปแž‘แŸ’แž’แžแŸ‚แžŸแŸ’แžแžทแžแž“แŸ…แž›แžพแž‘แžธแžแŸ†แžถแž„แž›แŸ’แžขแŸ— แž…แŸ†แžŽแŸ‚แž€แžฏแž€แžถแžšแžšแž…แž“แžถแž˜แŸ‰แžผแžแž•แŸ’แž‘แŸƒแžแžถแž„แž€แŸ’แž“แžปแž„แž“แŸƒแž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“แž‘แŸ€แžแžŸแŸ„แž’แž€แŸแž˜แžถแž“แž€แžถแžšแž…แŸ’แž“แŸƒแž”แŸ’แžšแžŒแžทแžแžแŸ’แž–แžŸแŸ‹แž•แž„แžŠแŸ‚แžš แž…แŸ†แžŽแžปแž…แž‘แŸ†แžถแž„แž“แŸแŸ‡แž‘แžถแž˜แž‘แžถแžšแžฒแŸ’แž™แž˜แŸ’แž…แžถแžŸแŸ‹แž‚แž˜แŸ’แžšแŸ„แž„แž‘แŸ†แžถแž„แž“แŸ„แŸ‡แžแŸ’แžšแžผแžœแžแŸ‚แž˜แžถแž“ แžŠแžพแž˜แŸ’แž”แžธแž’แŸ’แžœแžพแž€แžถแžšแž”แŸ’แžšแž€แžฝแžแž”แŸ’แžšแž‡แŸ‚แž„แž‘แžธแž•แŸ’แžŸแžถแžšแžขแž…แž›แž‘แŸ’แžšแž–แŸ’แž™แž€แŸ’แž“แžปแž„แž”แŸ’แžšแž‘แŸแžŸแž€แž˜แŸ’แž–แžปแž‡แžถแŸ”แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแžŠแŸ‚แž›แžšแžฝแž˜แž˜แžถแž“ แž•แŸ’แž‘แŸ‡แž”แžปแžšแžธ แž•แŸ’แž‘แŸ‡แžœแžธแžกแžถ แžขแž‚แžถแžšแžแžปแž“แžŠแžผ แžŠแŸ‚แž›แž‡แžถแžแž˜แŸ’แžšแžผแžœแž€แžถแžšแžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰ แž‡แžถแž€แŸ‹แžŸแŸ’แžแŸ‚แž„แž˜แžถแž“แž‚แž˜แŸ’แžšแŸ„แž„แž’แŸ†แŸ—แžŠแŸ‚แž›แž˜แžถแž“แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“แžŸแž˜แŸ’แžšแžถแž”แŸ‹แžŠแžถแž€แŸ‹แž›แž€แŸ‹แžฌแž‡แžฝแž›แžŠแžผแž…แž‡แžถแŸ–โ€‹ แž‚แž˜แŸ’แžšแŸ„แž„แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž“แžทแž„แžขแž‚แžถแžšแž–แžถแžŽแžทแž‡แŸ’แž‡แž€แž˜แŸ’แž˜แž“แŸ…แž‘แžธแž€แŸ’แžšแžปแž„แžšแžŽแž”แž€แŸ„แŸ‡แž–แŸแž‡แŸ’แžš แž‚แž˜แŸ’แžšแŸ„แž„แž‘แžธแž€แŸ’แžšแžปแž„แžขแžผแžกแŸ†แžถแž–แŸ’แž™แžถ (Olympia City) Embassy Residencesโ€‹โ€“Embassy Central แž€แŸแžŠแžผแž…แž‡แžถแž˜แžถแž“แž“แŸ…แž‚แž˜แŸ’แžšแŸ„แž„แž‡แžถแž…แŸ’แžšแžพแž“แž‘แŸ€แžแž•แž„แžŠแŸ‚แžšแŸ” แž€แŸ’แžšแž›แŸแž€แž˜แžพแž› แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแŸ—แž‘แŸ†แžถแž„แž“แŸ„แŸ‡แžœแžทแž‰ แž™แžพแž„แž…แžถแž”แŸ‹แžขแžถแžšแž˜แŸ’แž˜แžŽแŸแžแžถแžขแž‚แžถแžšแžแžปแž“แžŠแžผแžแŸ’แž–แžŸแŸ‹แŸ—แž€แŸแž˜แžถแž“แž€แžถแžšแž€แžพแž“แžกแžพแž„แž•แž„แžŠแŸ‚แžš แžแžพแž“แŸแŸ‡แž‡แžถแž”แŸ‚แž”แž•แŸ‚แž“แžšแžŸแŸ‹แž“แŸ…แžแŸ’แž˜แžธแžšแž”แžŸแŸ‹แž”แŸ’แžšแž‡แžถแž‡แž“แž€แž˜แŸ’แž–แžปแž‡แžถแžฌ? โ€œแž…แŸ†แž“แžฝแž“แž—แŸ’แž‰แŸ€แžœแž‘แžทแž‰ แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž€แŸแžŠแžผแž…แž‡แžถแžŸแŸ’แž“แžพแž”แŸ’แžšแžถแž€แŸ‹แž€แž˜แŸ’แž…แžธแžŸแž˜แŸ’แžšแžถแž”แŸ‹แž‘แžทแž‰แž•แŸ’แž‘แŸ‡แž”แŸ’แžšแž—แŸแž‘แžแžปแž“แžŠแžผแž˜แžถแž“แž…แŸ†แž“แžฝแž“แž…แŸ’แžšแžพแž“แž‚แžฝแžšแžฒแŸ’แž™แž€แžแŸ‹แžŸแž˜แŸ’แž‚แžถแž›แŸ‹ แž˜แžถแž“แž‘แŸ†แžถแž„แž—แŸ’แž‰แŸ€แžœแž€แŸ’แž“แžปแž„แžŸแŸ’แžšแžปแž€ แž“แžทแž„แž—แŸ’แž‰แŸ€แžœแž”แžšแž‘แŸแžŸแŸ” แž”แŸ’แžšแž‡แžถแž‡แž“แž€แŸ’แž“แžปแž„แžŸแŸ’แžšแžปแž€แž‚แžทแžแžแžถแž˜แžถแž“แž—แžถแž–แž„แžถแž™แžŸแŸ’แžšแžฝแžŸแžšแžŸแŸ‹แž“แŸ…แž‡แžถแž–แžทแžŸแŸแžŸแž–แžฝแž€แž‚แžถแžแŸ‹แž…แž„แŸ‹แžŸแžถแž€แž›แŸ’แž”แž„แžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แž•แŸ’แž‘แŸ‡แž”แŸ’แžšแž—แŸแž‘แž“แŸแŸ‡ แžแž˜แŸ’แž›แŸƒแžขแžถแž…แž‘แž‘แžฝแž›แž™แž€แž”แžถแž“ แžŠแŸ‚แž›แžŸแŸ†แžแžถแž“แŸ‹แžขแž‚แžถแžšแžแžปแž“แžŠแžผแž—แžถแž‚แž…แŸ’แžšแžพแž“แž˜แžถแž“แž‘แžธแžแŸ†แžถแž„แž“แŸ…แž‘แžธแž”แŸ’แžšแž‡แžปแŸ†แž‡แž“แŸ” แž…แŸ†แžŽแŸ‚แž€แž‡แž“แž”แžšแž‘แŸแžŸแž‚แžถแžแŸ‹แž‘แžทแž‰แžŸแž˜แŸ’แžšแžถแž”แŸ‹แžœแžทแž“แžทแž™แŸ„แž‚ แž“แžทแž„แžŸแž˜แŸ’แžšแžถแž”แŸ‹แžŸแŸ’แž“แžถแž€แŸ‹แž“แŸ…โ€ แž“แŸแŸ‡แž‡แžถแžŸแŸ†แžŠแžธแžšแž”แžŸแŸ‹ แž€แž‰แŸ’แž‰แžถ แž แŸแž„ แžŸแŸ’แžšแžธแž“แžถแž„แž˜แž“แŸ’แžšแŸ’แžแžธแžฅแžŽแž‘แžถแž“แž•แŸ’แž“แŸ‚แž€ แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แžšแž”แžŸแŸ‹ แž’แž“แžถแž‚แžถแžš แž€แžถแžŽแžถแžŒแžธแž™แŸ‰แžถแŸ”แž˜แžปแžแž˜แžถแžแŸ‹แžแŸ’แž˜แžธแž“แŸƒแž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰แž‚แžบแž‡แžถแž€แžถแžšแžšแžธแž€แžŠแžปแŸ‡แžŠแžถแž›แž“แŸƒ แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แžŠแŸแž‘แžถแž“แŸ‹แžŸแž˜แŸแž™แž”แŸ’แžšแž…แŸ†แžถแž‘แžธแž€แŸ’แžšแžปแž„ แž…แž„แŸ’แžแžปแžœแžทแžŸแŸแž™แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แžœแžทแž“แžทแž™แŸ„แž‚แž‘แžปแž“แž‚แžบแž”แžถแž“แžŸแž˜แŸ’แž›แžนแž„แž‘แŸ…แžแŸ’แž„แŸƒแžแžถแž„แž˜แžปแž แž“แŸƒแž”แžšแžทแž”แž‘แžšแžŸแŸ‹แž“แŸ…แžšแž”แžŸแŸ‹แž”แŸ’แžšแž‡แžถแž‡แž“แž€แž˜แŸ’แž–แžปแž‡แžถ แžŠแŸ‚แž›แž‘แžถแž˜แž‘แžถแžšแž“แžผแžœแžŸแŸ’แžแž„แŸ‹แžŠแžถแžšแžšแžŸแŸ‹แž“แŸ…แžแŸ’แž–แžŸแŸ‹ แž”แŸ’แžšแž‡แžถแž‡แž“แž€แž˜แŸ’แž–แžปแž‡แžถแžŠแŸ‚แž›แž˜แžถแž“แžœแŸแž™แž€แžŽแŸ’แžแžถแž›แžŸแŸ’แž˜แžพแž“แžนแž„ 38.9% แž“แŸƒแž”แŸ’แžšแž‡แžถแž‡แž“แžŸแžšแžปแž” แžŠแžผแž…แŸ’แž“แŸแŸ‡แž‡แžธแžœแžทแžแžšแžŸแŸ‹แž“แŸ…แžšแž”แžŸแŸ‹แž–แžฝแž€แž‚แžถแžแŸ‹แž‚แžบแž˜แžถแž“แž—แžถแž–แž‘แžถแž“แŸ‹แžŸแž˜แŸแž™ แž“แžทแž„แž€แžถแžšแž‘แžถแž˜แž‘แžถแžšแžแŸ’แž–แžŸแŸ‹ แž€แž‰แŸ’แž‰แžถ แžŸแž˜แŸ’แž”แžแŸ’แžแžท แž…แžถแž“แŸ‹แž–แžทแžŸแžธ แž˜แž“แŸ’แžšแŸ’แžแžธแž•แŸ’แž“แŸ‚แž€แž›แž€แŸ‹แž”แŸ’แžšแž…แŸ†แžถแž‚แž˜แŸ’แžšแŸ„แž„ Diamond One แž”แžถแž“แž“แžทแž™แžถแž™แžแžถ โ€œแž”แŸ’แžšแž‡แžถแž‡แž“แž€แž˜แŸ’แž–แžปแž‡แžถแž”แž…แŸ’แž…แžปแž”แŸ’แž”แž“แŸ’แž“แž˜แžถแž“แž€แžถแžšแž…แžถแž”แŸ‹แžขแžถแžšแž˜แŸ’แž˜แžŽแŸแž›แžพ แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแŸ—แžŠแžผแž…แž‡แžถ แžแžปแž“แžŠแžผแž‡แžถแžŠแžพแž˜แž–แžฝแž€แž‚แžถแžแŸ‹แž‚แžทแžแžแžถแž“แŸแŸ‡แž‡แžถแžšแžŸแž“แžทแž™แž˜แžแŸ’แž˜แžธแž€แŸ’แž“แžปแž„แž–แŸแž›แž”แž…แŸ’แž…แžปแž”แŸ’แž”แž“แŸ’แž“ แž…แŸ†แžŽแŸ‚แž€แž‡แž“แž”แžšแž‘แŸแžŸแžŠแŸ‚แž›แž…แžถแž”แŸ‹แžขแžถแžšแž˜แŸ’แž˜แžŽแŸ แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแžŽแžทแžแŸ—แž˜แžถแž“แžŠแžผแž…แž‡แžถ แž‡แž“แž‡แžถแžแžทแž˜แŸ‰แžถแžกแŸแžŸแŸŠแžธ แž‡แž”แŸ‰แžปแž“ แžŸแžทแž„แŸ’แž แž”แžปแžšแžธ แž“แžทแž„ แž…แžทแž“แž‡แžถแžŠแžพแž˜แŸ” แž›แŸ„แž€ แž–แžทแž“ แž–แžทแžŸแžธ แž‡แžถแž”แžปแž‚แŸ’แž‚แž›แžทแž€แž“แŸ…แž€แŸ’แž“แžปแž„แž€แŸ’แžšแžปแž˜แž แŸŠแžปแž“แžฏแž€แž‡แž“แž˜แžฝแž™ แž”แžถแž“แž‘แžทแž‰แž•แŸ’แž‘แŸ‡แž”แŸ’แžšแž—แŸแž‘แžแžปแž“แžŠแžผแž˜แžฝแž™แž”แžถแž“แž“แžทแž™แžถแž™แžแžถ โ€œแžแŸ’แž‰แžปแŸ†แž”แžถแž“แž‘แžทแž‰แž•แŸ’แž‘แŸ‡แž”แŸ’แžšแž—แŸแž‘แžแžปแž“แžŠแžผแž”แžถแž“แžšแž™แŸˆแž–แŸแž›แž–แžธแž†แŸ’แž“แŸ†แžถแž“แŸ…แž‡แžทแžแžœแžแŸ’แžแžŸแž“แŸ’แžŸแŸ†แž€แžปแžŸแž›แŸ’แž™แžŠแŸ„แž™แž€แžถแžšแž”แž„แŸ‹แžšแŸ†แž›แŸ„แŸ‡แž‡แžถแž˜แžฝแž™แž’แž“แžถแž‚แžถแžš แž แžพแž™แžแŸ’แž‰แžปแŸ†แžŠแžผแž…แž‡แžถแž˜แžทแž“แžŸแžผแžœแž…แžถแž”แŸ‹แžขแžถแžšแž˜แŸ’แž˜แžŽแŸแž›แžพแž€แžถแžšแž›แž€แŸ‹แžŠแžผแžšแžŠแžพแž˜แŸ’แž”แžธแž…แŸ†แžŽแŸแž‰แžขแŸ’แžœแžธแž“แŸ„แŸ‡แž‘แŸ แžแŸ’แž‰แžปแŸ†แž…แžผแž›แž…แžทแžแŸ’แžแž”แžšแžทแž™แžถแž€แžถแžŸแžšแžŸแŸ‹แž“แŸ…แž”แŸ‚แž”แž“แŸแŸ‡แžœแžถแž˜แžถแž“แžŸแžปแžœแžแŸ’แžแžทแž—แžถแž– แž“แžทแž„แž˜แžถแž“แž—แžถแž–แžฏแž€แž‡แž“แž•แŸ’แž‘แžถแž›แŸ‹แžแŸ’แž›แžฝแž“โ€แŸ” แž€แžถแžšแžŸแž˜แŸ’แžšแž”แžแŸ’แž›แžฝแž“แž™แŸ‰แžถแž„แž›แžฟแž“แž‡แžถแž˜แžฝแž™แž“แžนแž„แž€แžถแžšแžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แž—แžถแž–แž”แŸ’แžšแžŽแžทแžแž‘แžถแž“แŸ‹แžŸแž˜แŸแž™แž”แŸ‚แž”แž“แŸแŸ‡ แž‡แžถแž–แžทแžŸแŸแžŸแž€แžถแžšแžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„ แž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“ แž”แŸ’แžšแž—แŸแž‘แžแžปแž“แžŠแžผ แžขแžถแž…แž“แžทแž™แžถแž™แž”แžถแž“แžแžถแž“แŸแŸ‡แž‡แžถแž›แž€แŸ’แžแžแžŽแŸ’แžŒแžšแžŸแŸ‹แž“แŸ…แžŠแŸแžŸแž˜แžŸแŸ’แžšแž” แž“แžทแž„แžแŸ’แž˜แžธแžŸแŸ’แžšแžกแžถแž„แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž”แŸ’แžšแž‡แžถแž‡แž“แž€แŸ’แž“แžปแž„แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰ แž‘แž“แŸ’แž‘แžนแž˜แž“แžนแž„แž“แŸแŸ‡แž•แž„แžŠแŸ‚แžš แž›แŸ„แž€ แžšแžŸแŸ‹แžŸแŸ’แžแŸ’แžšแžถ แž’แžทแž”แžแžธแž‡แžถแžขแŸ’แž“แž€แžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แžแžปแž“แžŠแžผแž”แžถแž“แž”แž“แŸ’แžแŸ‚แž˜แž‘แŸ€แžแžแžถ โ€œแžแŸ’แž‰แžปแŸ†แžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„ Rose Condo แž”แŸ’แžšแž แŸ‚แž›แž‡แžถแž„2แž†แŸ’แž“แŸ†แžถ แž แžพแž™แž€แžถแžšแžšแžŸแŸ‹แž“แŸ…แž”แŸ’แžšแž€แž”แžŠแŸ„แž™แž•แžถแžŸแžปแžแž—แžถแž– แžŸแžปแžœแžแŸ’แžแžทแž—แžถแž– แž˜แžถแž“แž‘แžธแžแŸ†แžถแž„แžŠแŸแž›แŸ’แžขแžŠแŸ‚แž›แžŸแŸ’แžแžทแžแž“แŸ…แž‘แžธแž”แŸ’แžšแž‡แžปแŸ†แŸ‹แž‡แž“ แž‡แžถแž–แžทแžŸแŸแžŸแžœแžถแž˜แžถแž“แž—แžถแž–โ€‹แžฏแž€แž‡แž“ แž“แžทแž„แž˜แžถแž“แžŸแŸแžœแžถแž‡แžถแž…แŸ’แžšแžพแž“แžšแžฝแž˜แž‚แŸ’แž“แžถแž“แŸ…แž€แŸ’แž“แžปแž„แžขแž‚แžถแžšแžแžปแž“แžŠแžผ แžŠแžผแž…แž‡แžถแŸ– แž•แŸ’แžŸแžถแžšแž‘แŸ†แž“แžพแž” แž€แŸ’แž›แžนแž”แž แžถแžแŸ‹แž”แŸ’แžšแžถแžŽ แž“แžทแž„แžขแžถแž„แž แŸ‚แž›แž‘แžนแž€ แžŸแŸ’แž“แžถแž€แŸ‹แž“แŸ…แžแžปแž“แžŠแžผแž–แžทแžแž‡แžถแž˜แžถแž“แž—แžถแž–แž„แžถแž™แžŸแŸ’แžšแžฝแž›โ€แŸ”NEED A CONDO?
Camhomesโ€™ Sihanoukville Office Launch!
Camhomesโ€™ Sihanoukville Office Launch!
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
Dโ€™Seaview brings Sihanoukvilleโ€™s first fully integrated residential and commercial mixed development, located alongside Sihanoukvilleโ€™s most beautiful beaches.D'Seaview is selling fast! Inquire todayWith its twin towers standing at 28 storeys each, Dโ€™Seaview will bring a collection of premium executive condominiums, commercial units and a hotel to Sihanoukvilleโ€™s pioneer integrated living complex.The official opening ceremony for the Camhomesโ€™ 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 Saturdayโ€™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 Sihanoukvilleโ€™s 5 year real estate development plan at the ceremony. With the opening of Camhomesโ€™ Sihanoukville sales office, Camhomes can now provide investors more close proximity information about Dโ€™seaview and other Camhomesโ€™ projects. Residents of Dโ€™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 Dโ€™Seaview have already been fully subscribed with its second phase gaining more subscriptions everyday. Dโ€™Seaview is also supported by Camhomesโ€™ 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, Dโ€™Seaviewโ€™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 Camhomesโ€™ Dโ€™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, donโ€™t miss the Dโ€™Seaview opening ceremony on Saturday morning. To find out more information about the Camhomesโ€™ Sihanoukville Office Launch, please call +855 23 985 828 today.
Guide to Real Estate Law in Cambodia, from BNG Legal
Guide to Real Estate Law in Cambodia, from BNG Legal
June 6, 2022, 5:05 p.m.
Realestate News
BNG Legal Cambodia has released their latest version of the Guide to Doing Business in Cambodia which contains extensive information about Cambodian real estate law and property regulations.This extremely comprehensive Guide to Doing Business in Cambodia gives valuable information for investors and Cambodian-based business people on Banking and Finance, Corporate & Commercial Law, Dispute Resolution in Cambodia, Intellectual Property Laws, Labor Law, Mining Law and Regulations, Marriage and Family Law - and last, but certainly not least, a comprehensive overview of Cambodian law related to Land and Construction.In regards to Real Estate Law and Regulation, the BNG Legal Guide to Doing Business in Cambodia duly covers Legal Ownership of Land in Cambodia, Acquisition of Property in Cambodia, Potential Risks, Enforcement of Property Rights, Establishing Control over Land, Perpetual Leases, Land Concessions, Construction, Encumbrances on Immovable Property andย Recently Issued Regulations and New Procedural Rules.This is a great guide for those trying to get their head around Cambodian Property Law.DOWNLOAD THE GUIDE TO DOING BUSINESS IN CAMBODIA EBOOK NOWBNG Legal Cambodia our a unique law firm in the Kingdom, able to offer a deep understanding of the local business environment while simultaneously supported by international professionalism and integrity. BNG Legal facilitate business, investment and trade between Cambodia, Myanmar and the rest of the world through innovative and cost-effective legal services.ย BNG Legal offer all range of real estate related legal services, including residential, commercial and industrial property transactions, Lease negotiation and agreement drafting, title search and due diligence, land registration and titling, agricultural land concessions, financing, mortgages and other securities, construction contracting, permitting, and financing, environmental compliance consulting, advice on Special Economic Zones and tax-optimization.Contact BNG Legal today at: cambodia@bnglegal.com / hhn@bnglegal.comDOWNLOAD THE GUIDE TO DOING BUSINESS IN CAMBODIA EBOOK NOWCheck out more articles, news and views related to real estate law - on realestate.com.kh today!
J-Tower 3 - News Banner KH
Cambodian Banks Show Caution on Condo Lending
Cambodian Banks Show Caution on Condo Lending
June 6, 2022, 5:06 p.m.
Realestate News
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.ย 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 ย 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.ย  [caption id="attachment_81456" align="alignleft" width="205"] Anthony Galliano[/caption] Anthony Galliano,ย 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. ย Although Cambodia has been impacted by the ups and downs of the global real estate market, it hasnโ€™t had enough of a scale-able real estate market of its own to experience cycles, and real estate is very cyclical.โ€ย  [caption id="attachment_78669" align="alignright" width="255"] Ross Wheble[/caption] Ross Wheble, Country Manager of Knight Frank Cambodiaย 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.ย It seems that the writing is on the wall with warning signs of a serious oversupply issue by 2018.ย However, itโ€™s not just investors having these concerns. It seems the banks are too.ย โ€œSome banks will then tend to take a more conservative view on lending money for condoโ€™s when there is an oversupply as most of these condoโ€™s are purchased for investment purposes, not for owner occupation,โ€ says Joe Phelan, Head of Personal financial Services at Hong Leong Bank Cambodia.ย  [caption id="attachment_81446" align="alignleft" width="300"] Stephen Higgins[/caption] โ€œIf I was bank, I would be extremely cautious about lending to the condo market at the moment,โ€ adds Stephen Higgins, Managing Partner at Mekong Strategic Partners investment firm, โ€œThere 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."ย 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.ย โ€œTo make matters worse for the bank the oversupply of condoโ€™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 condoโ€™s,โ€ explains Phelan, โ€œIt 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 muchโ€.ย ย  [caption id="attachment_81084" align="alignright" width="300"] Joe Phelan[/caption] But buyers shouldnโ€™t be alarmed just yet. ย 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.ย Galliano adds, โ€œThe 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."ย  [caption id="attachment_80510" align="alignleft" width="225"] Simon Griffiths[/caption] In response to governmental concerns, banks are adjusting lending overall in Cambodiaโ€™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!
What are Global Investors Intentions in 2016? CBRE
What are Global Investors Intentions in 2016? CBRE
June 6, 2022, 5:06 p.m.
Realestate News
CBREโ€™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.โ€œThe report highlights global investorsโ€™ 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,"ย 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 โ€˜Emerging Asiaโ€™ as their primary focus for investment over the course of the year,โ€ continuesย Hobden.Property returns are particularly appealing in lowโ€‘yield world according to the CBRE report: โ€œThe 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.โ€Check out a cool infographic on Retailer trends in Southeast Asia, also from CBRE
Retailers Trends 2016, CBRE Southeast Asia
Retailers Trends 2016, CBRE Southeast Asia
June 6, 2022, 5:05 p.m.
Realestate News
CBRE Research Southeast Asia has released the results of the 7th edition of the โ€œHow Active are Retailers reportโ€. 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] 48ย percentย of retailers particularly targeting the Southeast Asia economies come from Europe, ahead of the North America and Asia Pacific regions.ย "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,โ€™โ€™ saidย Muyngim Lim, Analystย atย Research, Consulting & Valuation at CBRE Cambodia. In regards to potential effects on retail supply in Southeast Asia, according to the CBRE report, 65ย percentย 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 unique quality commended at the Cambodia Property Awards 2016!
Axis Residences unique quality commended at the Cambodia Property Awards 2016!
June 6, 2022, 5:04 p.m.
Realestate News
AXIS RESIDENCES is proud to be the First Cambodia Development by a Singaporean Developer to receive the 'Highly Commended Award' for the โ€œBest Condo Development (greater Phnom Penh)โ€ 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 โ€“ 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 realityโ€ฆWith 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 CJWโ€™s first condo project in Cambodia, they have entered the market to stay โ€“ 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!
Caring for women in the Construction sector: CARE Cambodia
Caring for women in the Construction sector: CARE Cambodia
June 6, 2022, 5:05 p.m.
Realestate News
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 itโ€™s important for them and their families that they are treated fairly and protected. Thatโ€™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 CAREโ€™s proven history of improving womenโ€™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?CAREโ€™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.
Sihanoukville first shopping mall at D'Seaview
Sihanoukville first shopping mall at D'Seaview
June 6, 2022, 5:06 p.m.
Realestate News
As HLH Groupโ€™s maiden housing development Dโ€™Seaview gears up for Phase 2 of its development โ€“ after having had all 300 of its residential units fully subscribed in Phase 1 since its launch in September 2015 โ€“ it will simultaneously be introducing Sihanoukvilleโ€™s largest shopping mall.SEE THE FULL LISTINGย The shopping mall, comprising a colossal 20,000 square metres of retail space, will be situated right next to Dโ€™Seaview. Slated to be the trendy uptown area of Sihanoukville, with Dโ€™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 residentsโ€™ and non-residentsโ€™ 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 Sihanoukvilleโ€™s growing popularity as Cambodiaโ€™s premier beach town. [caption id="attachment_81305" align="alignleft" width="472"] Local celebrity Khieu Sansana[/caption] โ€œGiven the countryโ€™s positive GDP growth of about 7 per cent annually, Cambodiaโ€™s economy remains vibrant and attractive to both local and foreign investors. Located next to Dโ€™Seaview, the mall will provide retail space for shopping and entertainment, making it a magnet for visitors and locals,โ€ said Datoโ€™ 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. โ€œWe are currently seeking experienced mall operators for sale,โ€ said Datoโ€™ 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 Groupโ€™s inaugural shopping mall could not have been more timely. Datoโ€™ 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 Sihanoukvilleโ€™s attractiveness as a destination. Popular TV personality KhieuSansana, who had recently subscribed to one of Dโ€™Seaviewโ€™s units, said that she believes Cambodiaโ€™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 Dโ€™Seaview being only a five-minute stroll from the tranquil and scenic Sokha Beach โ€“ one of Sihanoukvilleโ€™s many sandy white beaches of crystal blue waters โ€“ property market watcher and investor Clement Dupont said that the development will elevate the cityโ€™s image to one of luxurious liveability, compared to other run-of-the-mill seaside holiday destinations. โ€œPeople 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 cityโ€™s economy grows from year to year,โ€ Dupont said. Set to capitalise on the Kingdomโ€™s trade and manufacturing sectors by having the countryโ€™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 Dโ€™Seaviewโ€™s location at the pulse of the city, HLH Groupโ€™s mall will garner interest from international and national retailers. SEE THE FULL LISTING
Phnom Penh Infrastructure Rising
Phnom Penh Infrastructure Rising
June 6, 2022, 5:05 p.m.
Realestate News
To cope with the cityโ€™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. ย  Muhibbah Engineering (Cambodia) Ltd has also claimed to have won the bid to build a $200-million expressway connecting Phnom Penhโ€™s downtown to National Road 4 and the capitalโ€™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. ย  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. ย  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 canโ€™t mitigate the jams. ย โ€œTo 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,โ€ he stressed, adding that, โ€œIf we donโ€™t do that, the congestion issue will continue.โ€ 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]
Knight Frank Prime Asia Development Land Index released
Knight Frank Prime Asia Development Land Index released
June 6, 2022, 5:06 p.m.
Realestate News
4 March 2016, Singapore โ€“ 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 governmentโ€™s efforts to tackle tax evasion is discouraging big-ticket purchases.Mr Nicholas Holt, Head of Research for Asia Pacific, says, โ€œThe confluence of easing construction costs and rising residential prices and office rents propelled Phnom Penhโ€™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.โ€œTokyoโ€™s prime residential land index recorded the fastest growth among the cities tracked in H2 2015 โ€“ 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.โ€Download the full report!
Where to Buy Development Land in Phnom Penh: Realestate.com.khTV
Where to Buy Development Land in Phnom Penh: Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
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 weekโ€™s show, weโ€™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? ย 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.ย 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?ย Then you should watch part 4ย now:WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERS coming soon
Cambodia Construction Summit & Expo 2016
Cambodia Construction Summit & Expo 2016
June 6, 2022, 5:05 p.m.
Realestate News
The Cambodia Constructors Association (CCA) will host its 5th CCA Summit and Cambodia Construction Industry Expo on December, 1-3, 2015 at Diamond Island Exhibition and Convention Center where hundreds of local and international exhibiting companies and visitors will attend. CCA is now also a member of ASEAN Constructors Federation, China-ASEAN Building Materials Committee, and International Federation of Asian & Western Pacific Contractors โ€˜Association (IFAWPCA). This will bring huge benefits to theย Cambodia Construction Summit & Expo 2016.Unlike previous time, this time at theย Cambodia Construction Summit & Expo 2016 there will be many exhibitors from the three above international associations as well. Besides, we will have some excited events like CCA networking party with exhibitors at the second day of the event (evening) with free foods and drink where you and possibly your members can network with our potential CCA members and other exhibitors to match your business with them. Once there was 250 booths last year, we aims for 300 booths a this year's Cambodia Construction Summit & Expo 2016.CCA is a private-run constructors group that was established in 2012. Currently, we have over 100 member companies that are companies related to construction and property sectors. For more info about CCA, please kindly go to www.cca.org.kh
Veng Sreng Road and National Road 4 Charges Dropped
Veng Sreng Road and National Road 4 Charges Dropped
June 6, 2022, 5:05 p.m.
Realestate News
After receiving complaints from commuters regarding toll fees along Veng Sreng Road, the prime minister cancelled the road investment contract in late December 2015 and placed it under state management and abolished the collection of fees from commuters. โ€œI am giving the Veng Sreng road back to the people to use free of charge as a New Year present. I am grateful to our citizens who brought this news on Facebook about their problems regarding the Veng Sreng road to my attention,โ€ the Prime Minister Hun Sen said.Chinese firm BOTT WAYS invested in the Veng Sreng - Chom Chao road which runs for 6.5km and is 22 metres wide. Built with 20-cm concrete, the road is divided by 2.5-metre wide garden. When contract was cancelled, the road has almost been completed. The remaining works have subsequently been transferred to the capital department of public works and transport. ย ย As with Veng Sreng Road, Prime Minister Samdech Hun Sen also decided to cease charges for commuters on National Road 4 from 13 January after receiving complaints from people via Facebook. The decision was made just a few days after he removed toll fees for people who own vehicles and reside along National Road 4 that have to pay daily. The 230-km National Road 4 has been operated and maintained by AZ Group under a 34-year concession since 2000. This main artery to the coast is currently being expanded from 2 lanes to 4 lanes with an unspecified completion date. ย  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] http://realestate.com.kh/news/remoc2016-is-here http://realestate.com.kh/news/phnom-penh-infrastructure-rising
ASEANโ€™s Tallest Tower Proposed for Phnom Penh
ASEANโ€™s Tallest Tower Proposed for Phnom Penh
June 6, 2022, 5:06 p.m.
Realestate News
Plans have been submitted for a super skyscraper to be built in Phnom Penh which would make it home to the tallest building in Southeast Asia (ASEAN) in 2019 should it be completed. The Thai Boon Roong Twin Tower Trade Center is being jointly developed by local firm Thai Boon Roong Co., Ltd and Chinese giant contractor Kia Nip Group. The development has been revised upwards from a proposal submitted to City Hall in June 2015 of 111 floors worth $3 billion to a new design of 133 floors worth over $1 billion.The capitalโ€™s Land Management Urban Planning and Construction department and the Phnom Penh municipality consecutively endorsed the revised master plan in mid-February. The plan has already been submitted to the Ministry of Land Management Urban Planning and Construction for a final study that is expected to take at least 45 working days before a final decision is released. ย If final permission is granted, construction is planned to kick off later in 2016 with completion scheduled for 2019. The project is expected to becomeย ASEANโ€™s Tallest TowerThe Thai Boon Roong Twin Tower Trade Center is to be situated on the five-hectare Dream Land plot in Tonle Bassac commune and will feature commercial office space, a cultural centre, hotel, retail and shopping centres and many more entertainment facilities. ย If completed, the structure will be ASEANโ€™s Tallest Tower ahead of Malaysiaโ€™s Petronas Twin Towers (452 metres with 88 floors), Vietnamโ€™s Keangnam Hanoi Landmark Tower (345 metres and 77 floors), Malaysiaโ€™s Menara Telekom Towers (310 metres and 55 floors) and the 304-metre Baiyoke Tower II in Thailand with 84 floors. ย It will also be the 5th tallest high-rise in Asia as well as in the world following the UAEโ€™s Burj Khalifa (828 meters), Chinaโ€™s Shanghai Tower (632 meters), Saudi Arabiaโ€™s Makkah Royal Clock Tower Hotel (601 meters) and Taiwanโ€™s Taipei 101 (509 meters). However, if the 555-metre Diamond Tower proposed by Overseas Cambodian Investment Corporation (OCIC) in 2010 is successfully built on Diamond Island, the tower will rank only second in Phnom Penh. ย While such high-rises are usually welcomed by the public, building safety systems - especially related to fire prevention - are usually the main concerns due to the fact that the Cambodian authorities still have limited capacity and legal regulation in dealing with safety issues on tall buildings, let alone super-skyscrapers. Prof. Tous Saphouen, Secretary General of Board of Architects Cambodia and also the Dean of Pannasastra University of Cambodiaโ€™s Architecture Faculty was involved in the architectural design of this project. He told local media that the development was the result of a very detail architectural study done by experienced Cambodian and Chinese architects. According to Prof. Tous, giant Chinese constructor and main contractor Kia Nip Group has developed many high structures especially in China. Since it is the first super-tall building in Cambodia, the developer it is not sure whether local firms can be sub-contracted to parts of the building works. According to data from the Ministry of Land Management Urban Planning and Construction, 628 buildings ranging between 5 and 40+ floors have been erected in Cambodia so far. Among them, 407 buildings are between 5 and 9 floors, 187 buildings are between 10 and 19 floors, and 22 are between 20 and 29 floors. Only four towers surpass 40 floors. Phnom Penh Governor Pa Socheatevong has indicated that Phnom Penh will attract more high-rises in the next few years, especially in the area surrounding Diamond Island, and in Chamkar Morn and Daun Pinh districts. Despite general industry enthusiasm for the project, questions continue to be raised about not only the viability of the project for the Cambodian market but also about whether due diligence will be followed in the approval, investment and construction of the project. 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]
Launch a Development project in Cambodia: How To; Realestate.com.khTV
Launch a Development project in Cambodia: How To; Realestate.com.khTV
June 6, 2022, 5:04 p.m.
Realestate News
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.On this weekโ€™s show, weโ€™re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. 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 2: THE PROCESS TO START ANY DEVELOPMENT PROJECT IN CAMBODIA, FOR DEVELOPERSย Missed part 1? View it here!Realestate.com.kh: For developers, when you meet the developer that's considering launching a project in Cambodia, can you briefly explain the process for starting a new development project in Cambodia? What do they need to do?In Sitha: Thank you, this is a good question as well. Most developers have to understand a few things when they decide to enter the Cambodian market. To start a new development project in Cambodia, number one, the developer must get the business license from the Ministry of CommerceRealestate.com.kh: Number one, business license. This takes how long?In Sitha: I'd say a few weeks, usually from one week to two weeks. Now everything's online so the developer can go to the website of the Ministry of Commerce and apply to get the business license.Realestate.com.kh: This process is much faster now?In Sitha: Yes, it is faster now. This is a new system for the Cambodian government so everything's online now. ย Second, the developer needs to get permission from the General Department of Taxation. They have to apply to get VAT number and tax patent. You can also apply for tax patent online. The developers then apply to get the construction license from the Ministry of Land Management Urban Planning and Construction.Realestate.com.kh: The construction license, that's general - or you take a different license for different type of projects?In Sitha: Actually, it will be specific in regards to the size and type of the development. And we have specific periods. Realestate.com.kh: And if they don't complete the comstruction in a certain time?In Sitha: They can extend. At the same time the developers are applying to get the construction license, they need permission for their project from the Ministry of Economy and Finance as well. The same registration applies for a developer as applies to a real estate agency. In the real estate business, first we have to apply to get the business license from the Ministry of Commerce and then get the Tax Patent. Then we have to apply to get our license and certificate from the Ministry of Economy and Finance for the specific professional field as a developer, agent and property manager in some cases. The developer is no different, and needs to get licensed for any type of business it undertakes.Realestate.com.kh: So the developer, they need to apply for a license to sell their property also? They need to apply for a real estate license?In Sitha: Yes they do.Number five in the process is that ย the developers have to prepare the master plan for the development project, and submit this to the Ministry of Land Management Urban Planning and Construction and wait for the approval. After the approval, the Ministry of Land Management provide construction permission. Developers then can start the development project at the site that they propose. Realestate.com.kh: Roughly how long does it take to receive these permissions to begin? How fast could they do that?In Sitha: It takes a few months. It depends on how busy the government is. Some Months they are busy, like for the official meetings or something, so it takes a longer. Broadly, it's between one month and three months start to finish.Realestate.com.kh: When they submit the project plan to the government, how specific, how detailed does the plan need to be at this stage?In Sitha: They should include the floor plans as part of the master plan, in order for a professional architect from the land management ministry to check. Which means that before construction starts, developers have to prepare the master plan, the complete of construction prediction, and submit all information to the Ministry of Land Management. ย The Ministry of Land Management will then check and verify whether it shall proceed.Realestate.com.kh: You must have a registered construction company in this plan?In Sitha: Yeah, yeah. It shall be under one company who can also be registered for construction, or in partnership with a separate registered construction company. Number six, in the process for a developer to start in Cambodia, the marketing and selling strategy is also important. How to do the marketing and how to sell your type of development in Cambodia. Many developer donโ€™t pay enough attention to this. It's all about the marketing. I say developers need to do the market research and see whether the project could be a healthy seller in this market. And donโ€™t wait until after the construction to do this! Can customers buy or not? And research the right price or something like that. The developer needs to understand the market price, and likely changes, which means the price that could be affordable to the customer compared to the neighboring development projects. My company, VTrust Appraisal, are specialists in research and market study. We are an independent organization that can bring a lot of useful knowledge to those considering development projects. [caption id="attachment_81203" align="alignleft" width="300"] The Ministry of Land Management Construction and Urban Planning, Phnom Penh.[/caption] Realestate.com.kh: The developer can sell 70% of a condo project to foreigners right?In Sitha: Of course, developers can sell 70% to the foreigner owners.Number eight, in the process for a new developer, is to select the right type of customer to sell your units to. Not all customers are the same, and not all will suit your development. It depends on how much is the unit price for each condo. And this depends on the area, and whether you want to target local or ย international customers. It is a very good time, and a good opportunity for the developer to join in the condo development in this country. Number nine, in the start-up process for any developer is finding referral agents.Realestate.com.kh: When you say referral agents, you mean the developer has one agency working exclusively for them and then referral agents, all those other agencies who can co-sell and refer clients.In Sitha: Yes, you see, the CVEA (the Cambodian Valuers and Estate Agent Association) can be extremely useful for this because they are the mother of the real estate companies within Cambodia, the big umbrella of the industry - and the CVEA has a lot of real estate members.Realestate.com.kh: They're very interested to meet new developments?In Sitha: The real estate agents in the CVEA are professional, and they are well known, so the developer can get them to help out in selling the project as referral agents. They will share information among all members. Ten, the last point, cooperate for home loan options from the banking sector. To invest in the property I believe that we cannot have 100 percent of the money to own the properties. Now the banking sector in Cambodia generally provide home loans to the real estate developer up to 70%. To invest in property in this community, we use 70% of our own investment and the other, 70% or more from home loans. Everything they have to set part with the bank. Could be the reliable bank for the coverage in terms of loan financing. Loving it?ย Then you should watch part 3 now:WHAT ARE BEST AREAS TO BUY DEVELOPMENT LAND IN PHNOM PENH
Why develop and invest in Cambodia? Realestate.com.khTV
Why develop and invest in Cambodia? Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
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.On this weekโ€™s show, weโ€™re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. 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 1: WHY PROPERTY DEVELOPERS AND INVESTORS ARE INCREASINGLY LOOKING TO CAMBODIARealestate.com.kh: Mr. Sitha, I understand you have a lot of experience in advising property developers in Cambodia. What do you believe is driving the current high levels of property develop in the country now, in Phnom Penh in particular? Why do people want to invest inย Cambodia?In Sitha: Well, thank you for your excellent question. In Cambodia now, the business opportunity is good compared to the late 90s. You see when the country and the world had the economic crisis. After 2009, the market is better and better. More foreign investors are looking to this market. Most from China, Hong Kong, Malaysia, Japan, America and local developers. All these people are looking to invest in Cambodia.Come to the questions. What drives the property development in the country currently? I think the investors themselves firstly have to have unlimited/sufficient investment capital for the investments in Cambodia, meaning they canโ€™t enter without foresight. Number two, the investment projects licensing fees must be taken into consideration. Number three, investors must choose the right locations given their target market and budget, so location is also the most important to set up the development project. I think the central city is the best location at present, and also in the peninsula areas, or the other side of the river, if you're talking by areas.Realestate.com.kh: Why's that?In Sitha: Actually in Chroy Changvar the environment is good. The heart of the land between the Rivers is very beautiful, ideal to build a hotel or condo development. Realestate.com.kh: The infrastructure's really improving that side of the river now? [caption id="attachment_81189" align="alignleft" width="278"] Mr. In Sitha, Director of Business Development at VTrust Appraisal.[/caption] In Sitha: Yeah. A developer could build high rise buildings without limitations in this location as there are still no restrictions in the Chroy Changvar ย area, which means we could build high as long as they maintain construction qualities. Construction qualities that I just mentioned are also an important consideration for the investor. Quality construction ensures a project will have a long lifetime in the market. Number four, company brand name and reputation is also very important to this industry. Any new developer in the Cambodian market must build its brand reputation also. So how to build our brand name? My recommendation is to make a joint venture agreement with a good quality construction company and an experienced development company - preferably with experience in multiple international markets. Number six, you need to understand what is the competitive price in the market for a project like you are looking at. This means understanding the market price. It should in line with demand in the locality as well as considering what is reasonable for the foreign investor coming to our market as well.Number seven. You must consider the marketing tools you will use to expose your development project. I think RealEstate.com.kh is the one of the best digital marketing options for them to choose.Loving it?ย Then you should watch partย 2 now:ย THE PROCESS TO START ANY DEVELOPMENT PROJECT IN CAMBODIA, FOR DEVELOPERS
Asian Outbound Investment: Another Record Year, CBRE
Asian Outbound Investment: Another Record Year, CBRE
June 6, 2022, 5:04 p.m.
Realestate News
CBRE Hong Kong has released a new report that chartsย Asian outbound investment in real estate in 2015.ย โ€‹Asian outbound investment has seen another record year for 2015, reaching US$62.4 billion.And the Cambodian real estate market are drawing some of this capital. ย Chris Hobden, Manager of Research, Consulting & Valuation Services at CBRE Cambodia notes that, "while 2015 saw a significant increase in allocations of Asian outbound capital beyond the Asia Pacific region, Cambodia has evidently benefited from the growing appetite of both developers and investors, notably from China, Singapore, South Korea and Taiwan, to expand development activity and holdings beyond their respective domestic markets. With sustained GDP growth, attractive returns and the widespread adoption of the US dollar, Cambodia is well placed to attract continued real estate investment from the wider region over the course of 2016." ย  [caption id="attachment_81159" align="alignleft" width="226"] Chris Hobden, Manager of Research, Consulting & Valuation Services at CBRE Cambodia[/caption] Key highlights of the CBRE Hong Kong report: Asian outbound real estate investment reached another record high year in 2015, standing at US$62.4 billionโ€”a 37% year-on-year increase. ย  Underpinned by more active institutional investors from Singapore and China, 2015 saw a significant increase in big ticket transactions (deal size worth over US$500 million; up 167% year-on-year) and portfolio transactions (accounting for 28% of total Asian outbound investment turnover, up from 16% in 2014). ย  Active sources of capital continued to be led by Singapore, China and Hong Kong, with an increase of outbound capital deployment at 58%, 41% and 49% year-on-year, respectively. ย  Outbound investment into major gateway cities were more diversified. London, as the top destination of Asian investors, has contributed to a lower portion of outbound investment, decreasing from 17% in 2014 to 13% in 2015. On the contrary, other major gateway cities such as New York, Sydney, Shanghai and Hong Kong have all received a higher proportion of Asian investments in 2015. ย  The Americas have overtaken EMEA to become the top region attracting the largest share of Asian outbound investment, reaching US$22.4 billion (up 109% year-on-year). The Pacific region also saw significant increase of Asian investment (up 45% year-on-year). Meanwhile, growth rates in EMEA (up 7% year-on-year) and within Asia (up 12% year-on-year) are relatively moderate.