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HLH Group Announce CamFarm
HLH Group Announce CamFarm
June 7, 2022, 5:14 a.m.
Realestate News
HLH GROUP EXPANDS AGRICULTURAL FOOTPRINT IN CAMBODIA BY UPGRADING ITS EXISTING 10,000-HECTARE FARM INTO A FULL-SCALE AGRICULTURE PARK: Camfarm.SGX Mainboard Listed HLH Group, had successfully upgraded its existing 10,000-hectare farm in Aoral District, Kampong Speu Province in Cambodia to become a full-scale Agriculture Park, which covers the cultivation and processing of cassava (Tapioca) into cassava chips or cassava starch. It will also have an area to attract international investors with interest in husbandry and livestock assets to set up farms in the new park. The new cassava starch production factory at the site was completed last week. Known as Camfarm.FIND OUT MORE - contact HLH Group now!Meanwhile, the company’s first starch production line which was completed in the first week of April 2016 will produce 120 tons of cassava starch daily starting from this week. Production levels are expected to increase to an estimated 150 tons per day and will hit about 35,000 tons of cassava starch annually by the end of this year. Most of these cassava starch will be exported. The current market value of cassava starch is around USD360/ton.“With the new 10,000-hectare agriculture park in place, we can scale up our production significantly through the supply of cassava products. We are also looking forward to attract and partner with global investors with a robust appetite in the agricultural sector. With the right infrastructure such as the well-equipped deep-water sea port of Sihanoukville for exports, agricultural equipment and production facilities, we can enhance the yield of our plantations as well as raise both production quantity and quality,” said Dato Dr Johnny Ong, HLH Group’s Deputy Chairman and CEO.“HLH Agriculture (Cambodia) Co. Ltd is also planning to initiate programmes for contract farming and provincial collection center to raise the competitiveness of Cambodian farmers and at the same time provide new employment opportunities in the country by enabling more Cambodians to become self-employed in the fast-growing agriculture industry,” he added. By end of this year, the Agriculture Division expects to export 50,000 tons of both cassava starch and cassava chips. The ultimate target is to export 1 million tons of both products in the near future.Meanwhile, the company has also unveiled a new plan for an integrated Agriculture Food Processing Park to be named CAMFARM on a 400-hectare plot of farm land acquired in 2008. It is expected to be completed in year 2017. The company will be actively sourcing for strategic international investors in food processing industry to set up their assets in this park. THE FIRST AND ONLY AGRICULTURE PROCESSING HUB IN CAMBODIA, BROUGHT TO YOU BY HLH GROUP. We are offering to any investors an opportunity to join us and explore this project of 400-hectare plot of farm land.FIND OUT MORE - contact HLH Group now!AGRICULTURE PROCESSING HUB WITH THE SINGARPOREAN STANDARD:Can fruit processing factory. Can food processing factory.Dried fruit processing factory.Vegetable processing factory.Bio-gas Industry.Water treatment plant.Rice industry.Restaurant, food outlet & Entertainment places…etc.Animal farm, such as: Pig farm, Cow farm, Goat farm, Chicken farm, duck farm..etc.Manufacture of food processing industry.Fruit planting, such as: Banana, Mango, Coconut, Grass for cow feed, Sesame, Maringa plant, Vegetable etc.Bee Keeping.Fish Farming. Fruits and Vegetables Export.Fruit juice-Jam-Jelly Production.Groundnut Processing.Cashew-nut Processing.Potato Chips Production.Agro-Farming Blogging.Hotel (Farm Resort stay).Shop house.New expressway.Bank etc…Going forward, HLH plans to add another two production lines in 2017 which will raise its daily starch production capacity to 600 tons. The cost of the new production facilities is estimated at USD10 million and will be funded by financial institutions and potential joint investors.FIND OUT MORE - contact HLH Group now!
Home loans in Cambodia: How do you choose a reputable lender?
Home loans in Cambodia: How do you choose a reputable lender?
June 6, 2022, 5:07 p.m.
Realestate News
The process of choosing home loans in Cambodia and a lender can be quite complicated, but if you tackle it in stages you can avoid disappointment, frustration and wasted time. Realestate.com.kh is here to help.How do you choose a reputable lender in Cambodia? With more than 35 commercial banks operating in the Kingdom, it can be overwhelming to make the right decision and ensure that your lender is conducting its business in a legal and ethical manner.The majority of home loans in Cambodia are provided on flexible interest rates, which means that if your bank wants or needs to change your interest rate during the loan term, then they can. With that in mind, always choose a bank with a trusted reputation and a solid financial position.If you ask a question to your bank lender and they can’t answer you properly, your best bet is to keep looking. Find a bank who has a team of experienced lenders, not “jacks of all trades”.Most commercial banks are generally similar when it comes to upfront costs. Typically, you are expected to pay a loan approval fee (or processing fee), legal fees for the preparation and registration of your mortgage documents at the land titles office, a valuation fee and an insurance fee for basic fire cover over your property.The main point to look out for is hidden costs or clauses around upfront fees and paying off your loan early either partially or in full.Most banks will have a three percent early repayment fee if you make any extra payments or want to pay off your loan within three years, though some banks’ fees are higher and longer.Ask detailed questions regarding the mortgage’s terms and conditions: Ask about the application processing fee and if it is paid upfront or annually; how long it takes to obtain approval for the loan request; and how monthly repayments are to be made - is it by cash or automatically debited from the borrower’s account?Another loan feature worth considering is portability. This is necessary to learn about if you intend to increase your property portfolio by purchasing an additional property or selling your current home to buy another. This may involve a fee but it will be considerably less than the cost of establishing a new loan.Some banks can be inflexible even if you have sold your house and need to pay off your loan to release the title for property transfer ownership. Be careful of this one as it could mean a show stopper for your sale.Some banks insist that you provide at least three months’ notice if you wish to pay off your loan early and that this is often used as a tactic to reduce the instance of people refinancing to another bank. If this is the case, you need to know before you accept the loan.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Looking for reputable lenders in Cambodia? Let us help!Article by:
The Peak: From Cambodia’s Most-Renowned Developer
The Peak: From Cambodia’s Most-Renowned Developer
June 6, 2022, 5:05 p.m.
Realestate News
Cambodia’s most outstanding mixed-use development is soon to overlook the Mekong River with three 55-storey buildings, set for completion in 2020. The two towers of The Peak will be reserved for residential uses, while the third commercial tower will be the home of 20-storeys of the world-renown Shangri-La hotel, with 35-storeys of Grade A office space below it.With the upcoming ASEAN Economic Community, increasingly international corporations are entering the Cambodian market, and high grade office space and luxury residential units are rising in demand every month. Over 50% of registered companies in the Kingdom are majority foreign owned, and this trend is set to continue as Cambodia rises as an interconnected manufacturing, resource, agriculture and logistics hub for regional firms looking to expand, outsource or diversify. With an additional 5-storeys of prime retail space, The Peak also caters to Cambodia’s rising middle class, who are proving to have a taste for shopping and international brands.The developer is the renowned Oxley-WorldBridge Cambodia, a joint venture between Singaporean-based Oxley Holdings and WorldBridge Land Cambodia, which first launched in Cambodia in 2013. Oxley-Worldbridge’s The Peak is the second major residential development undertaken by the conglomerate.The Bridge, the joint venture’s first Phnom Penh project, marked a turning point for the entire Cambodian’s property sphere. With the release of The Bridge, the world took notice of the Cambodian market, the huge project bringing a new standard of construction and architectural flare to the capital.The Bridge, coming online in 2018, has now sold 96% of the projects 762 apartment units and 71% of 963 SoHo units. The Peak is perfectly located minutes walk from Phnom Penh’s largest AEON Mall, Nagaworld 1 & upcoming Nagaworld 2, and just 2 minutes drive to Business Convention Centres on Diamond Island. And of course, the 5-Star Shangri-La Hotel will be right next door.Don’t miss your chance to own a slice of Cambodian history; get in touch with The Peak’s friendly team today!
A Villa for Rent in BKK1? A $100 Phnom Penh Apartment? Expat Expectations debunked
A Villa for Rent in BKK1? A $100 Phnom Penh Apartment? Expat Expectations debunked
June 6, 2022, 5:06 p.m.
Realestate News
Many westerners who move to Phnom Penh for work, long-term holidays or retirement often arrive with expectations that don’t add up to reality of the 2016 Cambodian real estate market situation.For example, many have dreams of living in an opulent french-style villa at a rental or sale price that is just a fraction of what they might expect for a similar property in their home market.READ OUR ULTIMATE EXPATS GUIDE TO CAMBODIA Others think that their money will go a long way in Cambodia in terms of budget rentals, even in the big city’s hottest corridors. However, Phnom Penh, and in particular the expat-friendly suburbs, is a beast that is changing beyond the recognition of expats that settled here for work, pleasure or retirement 5-10 years ago. Some commonly-held expectations are becoming unrealistic in the 2016 Cambodian real estate market, and especially in Phnom Penh. In fact, the city is no longer full of the inexpensive, charming villas that many expats blithely assume will be readily available. So too is it beginning to see a shortage of affordable options for renters in central locations, as demand rises and landlord understand the underlying value of their locales. Desmond Yap, general manager of Yong Yap Properties in Phnom Penh, notes that this is only a natural result of supply and demand trends in the capital. “As wealthy property developers continue to find prime land for their developments in the central city districts, villas are getting snapped up due to the size of their surrounding land. The villas are then knocked down and the land is developed in a condo complex, hotel or commercial venture. Over time, this has limited the supply of villas and therefore prices have increased dramatically,” says Yap. The reality is that Phnom Penh has grown dramatically in the past ten years. Like any high growth city, this has caused two things to happen: 1) Housing prices have gone up dramatically and 2) no matter how much gets built, it is rapidly filled by buyers and renters, leaving a scarcity of supply for the most desirable kinds of developments. Yap also notes that as the standard of living rises in Phnom Penh, the cost of living also increases: “You can give example of how workers salary in Phnom Penh is rising – it’s a lot tougher now to find a waiter working for $100/month compared to 5 years ago.” Many expats coming to Cambodia are misinformed as to the true affordability of property, suggests Yap. Yap gives the example of The Lonely Planet guide. This highly popular travelers resource says that expats can get small flats for around $200 with internet and wifi in central Phnom Penh, “yet they need to take this into context; are they referring to inner city Phnom Penh? How long ago did they write it? etc. We actually have had people that come into the Yong Yap office quoting lonely planet and how we should be able to find them a western place for $200 inclusive of x,y,z… If they expect western qualities in their new apartment, this proves a very hard ask!” More realistically, western style luxury apartments with all the amenities, and also serviced apartments — such as a pool, gym and security — can be had for $500-$3000 per month. Check out properties available NOW! Alternately, more authentically Cambodian digs can be rented for around $300 per month. As the city has grown, the city has done what so many cities do: Converted housing on busy streets to businesses and demolished low density housing to replace it with high-rise apartments or commercial skyscrapers. When high-rise buildings go up, the villas next door to them are negatively impacted by the noise and dust of construction. They often never really recover. For the villas that remain, the demand is not only from residential property seekers but also F&B operators. This means home buyers and renters are having to compete with commercial enterprises who place a high value on the architecture, parking space and also the prime locations. The reality is that, at this point, there is a fairly small pool of highly desirable, Western-style homes in good locations. And unsurprisingly, these homes are rarely up for grabs. Either the owner knows they have a sweet deal and is not going anywhere any time soon, or these prime locations get sold to people who have connections of some sort, such friends of the family or coworkers. There are a lucky few expats who do enjoy this situation because they locked low rental prices some time ago with a 5-10 year lease. But for new signees, prices remain consistently high. For those new comers looking for a villa for rent in BKK1 - you might be on a waiting list... Some areas popular with expats include BKK1, Tonle Bassac and Southern Daun Penh. They do have a limited supply of villas, but not as many as they once had. Toul Kork remains a relatively good choice for an expat seeking a villa, however. But this may mean a longer commute for workers. Tuol Kork is a neighborhood about 30 minutes out of the center of the city that is increasingly attracting ex-pats. As with other large cities, commuting to a suburb outside the densely developed downtown area is a good way to find places renting for much less money. Learn more about expat rentals in Phnom Penh! Additionally, it is important to keep in mind that Cambodia is not a Western country. Although the West has had a substantial influence upon the architecture of developed cities the world over, like any Eastern country, Cambodia has its own history and culture, including its own architectural tastes. Even for homes that are built in a largely Western style, it is common for some details to just seem odd to the Western eye. The colors may seem not quite right. They may seem bolder than you expected. The trim may also seem in some way unusual. The finishing quality too may differ from western expectations. Yap notes that “western products/services generally will cost more as many products need to be imported. Quality window frames, light fittings etc. all need to be imported, and this naturally raises expected costs for renters and buyers.” Therefore, advice for those moving to Phnom Penh is that you will be well served by arriving with more realistic expectations concerning the style, price and availability of housing in the city where you plan to live out your expat experience. You may need to go with an apartment instead of a villa. You may need to have a longer commute. You may need to adjust your tastes. But after all, the ability to adapt is a key part of the expat experience, in any country, and can come with unexpected pleasures... READ OUR ULTIMATE EXPATS GUIDE TO CAMBODIA
Multiple Issue Cambodia Visa for Chinese and Korean tourists
Multiple Issue Cambodia Visa for Chinese and Korean tourists
June 6, 2022, 5:06 p.m.
Realestate News
A recent news release from the Cambodian Ministry of Tourism has announced that the Cambodian Government is currently preparing to issue three-year multiple visas, exclusively to Chinese and Korean tourists. Last year, 700,000 Chinese and 400,000 Korean tourists visited Cambodia last year, putting them in the top 10 foreign visitors. The initiative seeks to bolster the tourism sector, according to the report, one of Cambodia's keys to continued economic growth. Such a flexible and long term multiple issue Cambodia visa should encourage repeat travel and bring more tourists from China and Korea to Cambodia. But it may also bolster Chinese and Korean investment in the Cambodian real estate market... Travel is also opening Chinese eyes to real estate investment opportunities outside their borders; and Chinese outward tourism is the largest and fastest-growing tourism market in the world. Despite only 4 percent of Chinese nationals holding a passport, that 4 percent spend $200 billion overseas yearly. In 10 years, 12 percent of China’s population will hold passports, suggests China’s National Tourism Administration. “By 2020, it is predicted that 234 million outbound Chinese travellers will splurge $422 billion abroad,” says Charles Pitar, CEO of Juwai.com, China's leading international property portal website which introduces mainland Chinese buyers to international real estate investment opportunities. Stay tunes to Realestate.com.kh NEWS for more on this as it unfolds...
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AVA CONGRESS 2016 Underway!
AVA CONGRESS 2016 Underway!
June 6, 2022, 5:05 p.m.
Realestate News
The AVA congress is now official underway!This marks the official Opening of the 19th ASEAN Valuers Association (AVA) Congress at the Sofitel Hotel Phnom Penh, Cambodia, May 5, 2016 - and the first ever congress to be held in the Kingdom of Cambodia. Realestate.com.kh is extremely proud to sponsor this year's event, and commends the huge efforts from the CVEA to create such a fantastic and well-attended event - which will have lasting benefits for the real estate and valuation industry in Cambodia. Well Done! This morning's opening ceremony included Opening Remarks By H.E. Dr. Aun Pornmoniroth, Senior Minister Minister of Economy and Finance. "Mr. Kim Heang, AVA President; Mrs. Dewi Sri Umi, AVA Secretary General; All AVA chief delegates, distinguished guests, Excellencies, Ladies and Gentlemen, Good Morning! On behalf of the Royal Government of Cambodia, it is my great pleasure and privilege to welcome you to the 19th ASEAN Valuers Association Congress on the theme “One ASEAN, One Valuation Standard.” and I would like to take this opportunity to congratulate Cambodia’s Valuers and Estate Agent Association (CVEA) for taking the chairmanship role to host this important congress, which brings together government officials, representatives from the private sector, professional institutions, research communities, academia and other related institutions to discuss the issues and matter relevant to the theme. Excellencies, Ladies and Gentlemen It has been almost 5 years since Cambodia hosted the 17th AVA pre-congress in 2011 in Siem Reap. Now, we can clearly see that all our AVA member countries have significantly developed their valuation profession; among those some members have even moved a step ahead towards international standards. The theme of today’s congress “One ASEAN, One Valuation Standard” reflects the vision of ASEAN Economic Community (AEC) “One Vision, One Identity, One Community”. As we all know, AEC is an emerging political and economic entity that is increasingly becoming an important force in global political and economic landscape, with a combined population of 600 million and total overall market value of around USD 2.6 trillion. The ASEAN with the GDP average growth rate for 2016 expected to reach 4.9%, is a new emerging market to attract global investment and play a role as economic engine to drive the Asia’s economy. With the AEC starting last year, the cooperation among ASEAN member countries has further strengthened significantly. Meanwhile, the regional trend toward increasing ASEAN integration in all aspects of business fields has driven the need for regional standards in every sector of business. Regarding the Appraisal and Valuation profession, it has led to the initiative of ASEAN valuation standards. The growth of cross-border investment and markets, including the real estate markets, needs common rules to level the playing field for market participants and thus contributes to insure transparency in business operations. However, establishing ASEAN valuation standards is not an easy task. It requires time and efforts to reach mutual agreement among member states given the different stage of development, and different legal and regulatory framework of each member. In this regards, I would like to bring your attention to some main challenges we are facing in real estate valuation, namely multiple systems, methodologies, lack of national standards, lack of formal education and training, etc. In addition, it is a matter of fact that data related to real estate market is scarce. Some values of properties are out of date due to irregular updating of market values, which greatly impacts many economic and financial transactions based on property value. In this aspect, the 19th AVA congress today is organized in a very timely manner. It provides a forum for all relevant stakeholders to discuss, compare and analyze the different valuation practices of ASEAN countries in order to identify the challenges of the Valuation Standard and practices and to come up with an improvement plan. Excellencies, Distinguished Delegates, Ladies and Gentlemen, While pressing the importance of strengthening the valuation standard, we also have to understand the need to enhance the capacity of valuers. Without professional valuers, we cannot evaluate assets of a company at fair market value. So far, Cambodia have 75 licensed professional valuers who are working in 62 valuation firms. Some well-known international property agencies and valuation firms, such as Knight Frank, CBRE, Century 21, Savills, and so on, are also expanding their business to Cambodia. Compared to other advanced countries, Cambodia’s real estate market is still at early stage of development, yet a fast growing market. In fact, Cambodia’s real estate sector is facing a lot of challenges in terms of legal, regulatory, and supervisory framework as well as inadequate human capacity. The rapid expansion of real estate projects requires independent and competent professional services in this sector. These professional services are not only fundamentally important for the development of Cambodia’s real estate industry, but also for all AVA members. The Royal Government of Cambodia is now working closely and pro-actively with the private sector to develop the real estate market. In particular, the MEF now is drafting our national valuation standards by taking into consideration regional practices and experiences. In the meantime, we are also preparing ourselves to adapt to ASEAN valuation standards as well as the International Valuation Standard Council (IVSC). We are also now working on updating our regulatory and supervisory framework to be in a better position to monitor and safeguard the real estate sector. In this effort, we are in need of Technical Assistance from the advanced AVA member countries and I trust that through the spirit of ASEAN cooperation, Cambodia will receive these necessary supports and assistance. Excellencies, Distinguished Delegates, Ladies and Gentlemen, Moreover, as a chair of this congress, I would like to encourage all advanced AVA member countries to extend their hands to assist less developed ASEAN members to develop competency and professionalism in the real estate sector. By doing so, I strongly believe we will see sustainable development of our regional real estate market which contributes to further enhance the Asean Economic Community. I strongly hope that the outcome of the 19th AVA Congress will bring closer collaboration, harmony and prosperity to all our AVA member countries. This also enables us to promote AVA as a regional community in the international arena. Before conclusion, I would like to thank the organizing committee for the excellent arrangement of this congress.  I would like to wish the 19th AVA Congress to be conducted successfully and fruitfully and wish Excellencies, AVA chief delegates, Distinguished Delegates, Ladies and Gentlemen happiness, prosperity, and success in all endeavours. For foreign guests, I hope you enjoy your stays in Phnom Penh and make your time to visit and explore the rich culture of Cambodia. May I now declare the opening of “the 19th AVA Congress”. Thank you." Realestate.com.kh is extremely proud to sponsor this year's event, and commends the huge efforts from the CVEA to create such a fantastic and well-attended event - which will have lasting benefits for the real estate and valuation industry in Cambodia. Well Done!Stay tunes for realestate.com.kh's full video coverage of the event on REALESTATE.COM.KHTV
Strata Title Office Space in Cambodia with James Padden, REMOC2016 on Realestate.com.khTV
Strata Title Office Space in Cambodia with James Padden, REMOC2016 on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) was held this April at the Phnom Penh Hotel, with a host of the local and regional real estate industry leaders giving their outlooks on the state of the Cambodian real estate market.Realestate.com.kh caught up with James Padden, Commercial Agency Manager at CBRE Cambodia at REMOC 2016 to get his 2 cents on the state of the current and future Cambodian property market prospects and to learn about strata title office space in Cambodia: What makes you optimistic and what worries you about the Cambodian real estate market? CBRE are optimistic about the office market. Exchange Square is due for completion in Q4 16 and has seen strong interest locally and regionally highlighting growing demand for grade A space in Phnom Penh. Increasingly we are seeing interest from companies in office space in secondary cities such as Sihanoukville, Battambang and Siem Reap highlighting that Cambodia is not all about Phnom Penh but these provincial cities are seeing strong economic growth in their own right.I think there is a need for caution regarding the residential market and we are yet to see strong domestic owner/occupier demand that is required for condominiums to really drive the market forwards. Existing investment is predominantly by overseas investors looking for capital growth. This market will be driven long term by Cambodian occupiers and this has been slowly changing but is yet to become a clear segment of demand. What significant changes are you anticipating for the Cambodian real estate market over the next year?We have seen the announcement of strata title office space in Cambodia for the first time in 2014 and this is a welcome trend with this asset being a popular investment in other markets such as Hong Kong and Bangkok. There will be further segmentation of the office market as Exchange Square adds to grade A office stock. High prices and limited availability of land in prime, central areas is likely to continue the trend for development in secondary locations such as Sen Sok and Chroy Changvar.Strata title office space in Cambodia is a good step forward for the investor market. I think we will also see continued development and investment activity in provincial cities such as Sihanoukville, Battambang and Siem Reap. Overall we expect 2016 to be a year of a lot of activity driven by Cambodia’s continued strong economic growth and further bolstered by the movement towards ASEAN integration as there is continued intra-ASEAN investment and regional expansion of businesses out of their home markets.Want more video content? Check out the Realestate.com.khTV channel now!
Penthouse Residence in Aeon Mall this week!
Penthouse Residence in Aeon Mall this week!
June 6, 2022, 5:05 p.m.
Realestate News
The Penthouse Residence will host a special event at Aeon Mall between May 5th and 6th, 2016. For every unit purchased at the Aeon Mall event, all customers will receive a special 5% discount together with a brand new iPhone 6S!!!Learn more about Penthouse Residence in this great video on Realestate.com.khTV! FIND OUT MORE ABOUT THIS GREAT PROJECT RIGHT HERE!The Penthouse Residence are strategically located on Sothearos Boulevard and architecturally designed to meet the demand for luxurious condominium living within the contemporary city of Phnom Penh, Cambodia.With its bold and innovative architectural design, nothing has been spared in creating Cambodia’s first luxury condominium development. 36 floors of luxurious residence complemented by every amenity will result in nothing less than lavishing, from the spectacular panoramas of the city skyline to the attentive services of the concierge and our management team. Setting on prime & unique real estate location, The Penthouse Residence comes with roof top terraces, infinity swimming pool,fitness center and the first and only one world class revolving restaurant (in Phnom Penh) to give you a 360 degree panoramic view of the city skyline. Surrounded by conveniences of international standard, located next to premium residences and business centers such as the Sofitel hotel, Aeon Shopping Center and ICAN British International School to name a few, make The Penthouse Residence the most desired address in Phnom Penh. Designed to surpass expectations, The Penthouse Residence exude a warm Cambodian feel, which is subtly manifested in the premise’s architectural style, choice of furnishings and landscaping. Residence enjoy privacy and warm hospitality. A wealth of recreational facilities and luxurious services make The Penthouse Residence the most desired address in Phnom Penh. Come along to the special event at Aeon Mall this May 5th and 6th, 2016. For every unit purchased at the Aeon Mall event, all customers will receive a special 5% discount together with a brand new iPhone 6S!!!FIND OUT MORE AND INQUIRE TODAY
Land bordering the new city of Tbong Khmum in hot demand
Land bordering the new city of Tbong Khmum in hot demand
June 6, 2022, 5:14 p.m.
Realestate News
While Tbong Khmum advances towards becoming Cambodia’s first model satellite city, land prices along the outskirts of the proposed development area are skyrocketing as investors who foresee the rapid growth of the new province rush to capture roadside plots for future commercial and retail purposes.Tbong Khmum city, the new centre of the province formed in late 2013, is the first ever Cambodian city to have zoning and infrastructural plans firmly in place before any official groundbreaking.Sorn Seap, CEO of Key Real Estate, visited the site over the Khmer new year to inspect progress and survey land investment opportunities; and said all road construction was underway.Zoning is already clearly defined and signposted on site, to include commercial, industrial, residential and administrative areas.“The combination of strict zoning, open roads, green space, and the gentle slopes of the city, will create a new urban centre that will look more like a western-style city,” Seap said.Tbong Khmum governor Prach Chan said this week that current plans are to complete all basic roadwork in the precincts development plan before the onset of monsoon season, while the water treatment system is slated for completion in 2017.According to Chan, no private companies have yet invested in the new city. “However, the land prices are still cheap here, and offer a good chance for investors in the near future,” he said.Although land within the borders of the Tbong Khmum development zone are not yet up for sale, land along the border of the site on the eastern side of National Road 73 remain a hot ticket for local investors.Investors from the provincial capital of Suong, currently the largest city of Tbong Khmum province, and other parts of the neighbouring Kampong Cham province, are racing to get their hands on some land.Despite the new provinces isolation from other major real estate hotspots, the land prices remain high along National Road 73, with land prices commanding up to $4000 per metre front.“The land is not being sold by meters squared, however, but rather according to meters of road front access,” noted Seap, adding that investors were buying purely for retail and other commercial purposes.“The current land for sale is being resold now, having been subdivided by the original buyers into smaller sections.”While large parcels of land were originally available for first movers, Seap said since plans for the city had become more concrete, all plots have been divided to a maximum of 10 meters road front, with between 30 - 50 meters of land attached behind.Co-written by James Whitehead and Siv Meng
Phnom Penh Land Market Outlook with Sorn Seap, REMOC2016 on Realestate.com.khTV
Phnom Penh Land Market Outlook with Sorn Seap, REMOC2016 on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) took place April 1st at the Phnom Penh Hotel, 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 all the action with the speakers of REMOC2016 to get their 2 cents on the state of the current and future Cambodian property market prospects.Here is what Sorn Seap, ceo of Key Real Estate had to say...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 land market, going in-depth into market prices, zoning and development trends in the future. Phnom Penh land market prices continue to rise up by 10 to 20 percent a year. Nevertheless, the whole Phnom Penh land market 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.
The ULTIMATE Expat Guide to Phnom Penh
The ULTIMATE Expat Guide to Phnom Penh
June 6, 2022, 5:06 p.m.
Realestate News
Want to start living in Phnom Penh? You should. Over 80,000 expats have already moved to the Kingdom and life is good! The ULTIMATE Expat Guide to Phnom Penh covers all things you need to know before moving to the kingdom of wonder, thanks to Realestate.com.kh, Cambodia's home of real estate. Real Expat Reviews:Firstly, let’s see what some expats currently living here in Phnom Penh have to say:Daniel Santantoniou, an Insurance Broker originally from Geneva, Switzerland, who has lived in Cambodia for 20 months, says that “the best thing about living in Cambodia is the cost of living, business opportunities, overall growth in all sectors, proximity to the beach and the influence of Buddhist culture.” Daniel lives in a one bedroom apartment, local Khmer style, with a view of Royal Palace and the National Museum. This costs just 430$/month, including water and cleaning once a week, which Daniel says is “good value for money given the location and view. However, we found serviced apartments way overpriced in Phnom Penh compared to Bangkok.”Alexander Evengroen, a Netherland’s native and a business developer, real estate professional and motivational speaker by trade, has lived and worked all over the world, including China, Singapore, Thailand, Ghana, Malawi, and now Cambodia... “I have stayed in beautiful Cambodia for around 5 years. The best thing about living here is my beautiful Cambodian wife,” says Alex. In terms of advice for new expat residences, Alex says that, “someone moving to Phnom Penh soon needs to be open-minded and go further than the tourist attractions. Dare to explore more provinces and meet the fantastic people of Cambodia. The amazing food, the culture and so much more. Meet other expats to share experiences and join events to learn from each other - but don’t only hang around them! See and feel the beauty of this great country.” Alex lives in a beautiful spacious 5 bedroom, 5 bathroom villa home with “all the needs and facilities you can dream of - Seldom do we get power cuts, and fully air-conditioned - in the Attwood area of Phnom Penh.”Filipino native Carmela Torres, a real estate marketer by day, band vocalist by night, has resided in Phnom Penh for 1 year and 3 months. She says, “The best thing about living in Cambodia is the affordable yet high quality of life (cheap cost of living). Also, the unique freedom to start a business and not get killed with taxes.” “My advice for an expat moving here,” says Carmela, “would be shop around to find the best deals on property and to always try to barter the price. Do not be overly anxious about safety and security when moving in Phnom Penh, and when it comes to healthcare I think the medical care facilities here have greatly improved, and many ailments can now be treated in Phnom Penh by foreign doctors and foreign-trained Cambodian doctors. Dental care is also professional and affordable. But have medical insurance in your home country in case of the worst! Finally, beware the heat!” Carmela lives in a stand alone apartment in the BKK1 area, which she says is “definitely good value for money: Centrally located, easy access and very close to everything.”Hayley Flack, a student instructor from London, has lived in Cambodia almost fourteen years. Hayley comments that, “I enjoy my job and the easy going lifestyle of Phnom Penh. On weekends, the hardest thing is deciding where to eat - as there are so many great restaurants, and which gigs to go to. We are generally spoilt for choice. A piece of advice I would give is to stay calm and do not lose your temper. A smile will go a long way even when you get frustrated, which will happen.” In regards to where you should live, Hayley explains that, “I have lived in the same apartment for nearly ten years. The rent is very good and the landlord is very hands off, apart from when we need help. We live behind the University of Fine Arts. It is very good value for money. However, one thing I will say is the apartment next door and many others in our area lie empty. Why? Because the rent is more than double than ours. I don't understand why the landlords keep the rent high and therefore the apartments empty. I have had friends look at them and try to haggle the price, but they won't budge.”Adolfo Perez-Gascon, a Spaniard who has lived in Cambodia for 2 years already working as a journalist, thinks that, “the best thing about living in Phnom Penh is the fact that you have access to a big and vibrant community of expats, while also having the opportunity to interact with a very friendly and open local population. Living in Phnom Penh, you'll find that you have access to almost all western commodities and activities that you enjoy back home, but you are still in a foreign and exciting country; a country that you'll feel compel to explore and learn more about. In this regard, Phnom Penh strikes an almost perfect balance.” Adolfo notes that, “a lot of people move to Phnom Penh without a plan; they don't really know what they want to do here, and, of course, do not have a job waiting for them. They are lured to the country by lax visa requirements and the prospects of an easy life. My advice to any person planning the move to Cambodia is to come here with a job. Do your research, find an employer that you'll like to work for, and don't board that plane until you are sure of what you are going to be doing. Having a concrete plan of action will help you enjoy your experience in the Kingdom a lot more. Starting work right away will help you integrate into the community. I shared an apartment (with 2 other people) on the second floor of a traditional Khmer building located in the vicinity of the Genocide Museum. Rent is extremely cheap (we pay 400$/month for the whole apartment). Compared to my home country, this is an amazing deal. Put bluntly, you'll never find such cheap accommodation in Spain. The apartment is nice, spacious and comfortable. We have all the amenities that you'd expect of a modern house, including wifi and aircon.”A Little History That Ex-Pats Should Know:Cambodia has a rich history going back at least five thousand years. However, it was an experiencing a Dark Age from the 1400s until 1863. This Dark Age ended when the French came in and established a protectorate. Over time, this situation changed and Cambodia became a French colony. In the early 1940s, events that occurred during World War II weakened the French Colonial Empire. In 1953, Cambodia established itself again as an independent kingdom. Thus, from the 1940s through the 1960s, development in Cambodia was comparable to what was occurring in Vietnam and Thailand at the time. Unfortunately, the war in neighboring Vietnam negatively impacted Cambodia, resulting in sections of Cambodia being bombed by various parties, including the USA. This helped bring a group to power known as the Khmer Rouge. Most likely, you have heard the term "Khmer Rouge" and are aware that it has negative associations. They came to power in Cambodia in the 1970s, and, during their relatively short reign of terror, killed approximately a third of the country's population. These events affected everyone in the nation and still do. But this era was particularly hard on educated professionals, such as doctors, lawyers, and teachers. They were targeted first. Although these events are history, they are not yet resolved. The country is still struggling to heal its wounds from these events. The trials of the Khmer Rouge leaders for their atrocities started relatively recently and are still ongoing in The Extraordinary Chambers in the Courts of Cambodia (ECCC) located outside Phnom Penh. Additionally, the country developed the Tuol Sleng Genocide Museum and Choeung Ek Killing Fields in Phnom Penh. These are tourist sites aimed at educating the world, as well as a form of national therapy, helping the country to come to terms with these recent events.History and The Ex-Pat Community:Modern Cambodia was established in 1993. Thus, it is a relatively young nation, yet it has a long and rich history. The recent events detailed above have some of the following impacts on the ex-pat community today: 1) The tremendous recent loss of so many educated people is the primary reason that Cambodia has such a thriving ex-pat community. The country needs far more educated, skilled professionals to fill vital roles than it can supply internally. So, if you are an ex-pat living in Cambodia, you have been welcomed here to help with the recovery process that the country is still undergoing. 2) If you want to fit in and be comfortable in your interactions, it helps to understand the culture a bit. One of the take-aways from this short history lesson is that there is a significant French influence in Cambodia due to the years that it was a French colony. Another is that Cambodia is right now undergoing a process not unlike The Nuremburg Trials from some years ago, when European leaders were similarly tried for war crimes from World War II. 3) The country still has a lot of landmines and other visible scars from being embroiled in conflict for decades. It is wise to be mindful of potential danger in some parts of the country when you travel.Phnom Penh for Expats:As the capital and the largest city in the nation, Phnom Penh is a locus of the ex-pat community. Not only are there a lot of jobs here that are well-suited to attracting ex-pats, it has development more comparable to that of many western nations. This gives ex-pats the chance to find their comfort zone, anywhere from largely recreating a life similar to what they had in their country of origin to living much like a local for an especially broadening personal experience. The ongoing influx of foreign investment and foreign workers living here has brought with it western style businesses and amenities, plus international school amenities geared to the needs of ex-pat families. As with any big city, more development tends to lead to higher prices. However, going local can give you an exotic experience on the cheap, if you so desire it. Western style luxury apartments with all the amenities, and also serviced apartments -- such as a pool, gym and security -- can be had for $500-$3000 per month. Check out properties available NOW! Alternately, more authentically Cambodian digs can be rented for less than $300 per month. If your comfort zone involves organic, upscale food stores, you can find that for prices comparable to what you would pay at home. Or you can shop the local outdoor vendors (similar to western Farmer's Markets) for substantially less, often about half price. A western style coffee from a foreign chain can be had for around $3, while a cup of coffee from a local stall is typically well under $1. In fact, the first Cambodian Starbuck's recently opened in the Phnom Penh International Airport. If you just must have a taste of home, it can be found there at typical Starbuck's prices. There is plenty to do and see within the capital, including fine dining, live music, movies and other entertainment venues. But, living in Phnom Penh also gives you easy access to the recently expanded international airport and bus services, making regional travel very do-able for the more adventure-minded types. All of this means that an ex-pat living in Phnom Penh can live what would be a very upper class lifestyle in most large western cities, but on a relatively modest income. A housekeeper can be hired for about $5 per visit, making it affordable to have one come once or twice per week. A mid-price restaurant meal for two is approximately $15-20, about the same as or not much more than you would pay for fast food in many western cities. Plus, simply being here means that when you take a day trip or a weekend jaunt, it is invariably to see things that many westerners would only dream of visiting if they were incredibly rich.The Ex-Pat Work Scene:Most ex-pats in Phnom Penh live on anywhere from $12,000 to $60,000 per year. They are employed in NGOs, the hospitality and tourism sector, education, tech and business. Some are hired to come here. Others choose to simply show up and look for work. Simply showing up is not as crazy as it might sound. Cambodian visas have some of the most lax rules in the entire world, and being here allows one to find jobs via word of mouth that won't ever be advertised online. You can also check newspaper listings if you are here. Some people start by looking at online job listings. The two most popular Cambodian job sites are Bong Thom Dot Com and HRinc.How to Get a Visa:There is a low bar to entry here. Many people get a standard E-class visa by simply showing up. Airports and border check points both allow you to get one by filling out very nominal paperwork and paying a few extra dollars above what a tourist visa costs. For about $300, you can extend it to a year. However, in 2014, Cambodia passed a new law that requires foreign workers to have a government issued work book. This is really a responsibility of the employer, not the employee, and, so far, enforcement has not been stringent.Currency:It may surprise you to learn that US Dollars and Cambodian Riel are the predominant currencies here. In fact, most ATMs dispense US Dollars only (unless otherwise noted). With the exchange rate in the neighborhood of 4000 Riel to $1, it is typical for transactions to be made primarily in dollars, with "change" given in the form of Riel instead of US coins.Popular Ex-Pat Neighborhoods:A popular area for ex-pats is Boeung Keng Kang 1, 2 or 3. Don't worry! Everyone just abbreviates this as BKK 1, 2 or 3. The Russian Market and the Riverside area also have many ex-pats. BKK 1 and 2 are more upscale, with more amenities geared specifically towards foreigners. BKK 3 and the Russian Market both offer an attractive mix of western and local shops. The Riverside area is popular with tourists and has a number of bars and nightclubs. It is, perhaps, less family friendly than the other neighborhoods, but a good place to go if you love the nightlife. More recently, Tuol Kork is a neighborhood about 30 minutes out that is increasingly attracting ex-pats. As with other large cities, commuting to a suburb outside the densely developed downtown area is a good way to find places renting for much less money. Housing:In addition to the aforementioned luxury apartments and local style rentals, Phnom Penh also has French colonial architecture and western style homes tucked away on tree-lined streets. Single ex-pats who choose to share an apartment can find accommodations for as little as $150 per month. Those who choose to live on their own may pay up to $500 for an apartment, depending upon its size, location and amenities. Couples or families are typically looking at costs between $250 and $1000.Should I opt for a long or short term lease in Cambodia? Here are some pros and cons. If you go through a real estate agency to help you find a place, it shouldn't cost you anything as they are typically getting paid by the landlords. They can help you understand what is available and what is in the lease. Just like you would in other countries, it is not uncommon to sign a lease for a set period of time, pay a security deposit and your first month's rent prior to moving in.Here’s how to choose the right Cambodian real estate agent for you!Utilities:Although some landlords cover utilities for you, such as cable, water and trash, they typically charge you for electricity. The typical rate is around $0.25 USD/kilowatt. Read your contract before you sign. Some landlords may try to pad that. Make sure you understand your contract before you sign!English is Common:As with many countries, a lot of the locals speak English. This makes it easier to shop, dine and make friends than you might expect. Many shops and restaurants can assist you in English, even with local goods.Petty Crime:If you look like a well-heeled foreigner, you may find yourself the target of petty crime. This is pretty normal in less developed countries, but Phnom Penh is actually safer than Vietnam and Bangkok. Crime levels have gone up recently, but if you take reasonable precautions, this shouldn't be particularly more concerning than in any big city. Bag snatching is a minor issue in downtown areas at night, especially for western women. This also occurs from the side of Tuk Tuks at night, perpetrated by thieves on motorbikes. To be sure, make sure you keep your bag on the inside of you at all times.Learn more about home and personal security in Cambodia.The State of Medicine in Cambodia:Perhaps you have heard that you should "Go to Thailand" if you need medical care while in Cambodia.It was not that long ago that this was the standard wisdom in the ex-pat community, but medical care has come a long way in recent years. Increasingly, Phnom Penh has first rate doctors available, whether foreign doctors who came here to practice or Cambodian doctors who were trained abroad. Dental care is also comparable to that in more developed nations, while costing far less.None the less, some kinds of procedures may not be available locally. Thus, it is not uncommon for people to go elsewhere if they require certain things. Thailand is still popular, followed by Singapore and Malaysia. Bangkok is particularly popular for OB care. However, even after you factor in travel expenses, you will find that medical care in this region will generally be less expensive than what you would pay in the USA. To give you a general idea of the price range: Visiting a local emergency clinic for stitches, plus two follow-up appointments, can cost less than $300.Getting Groceries:Ex-pats can shop at modern grocery stores for many of the same amenities they would find in a western country, often at prices that are not substantially different, though there are certainly some notable exceptions. For example, apples and are not native fruits here. Since they are imported, they may be surprisingly expensive compared to the prices in your country of origin. However, many ex-pats enjoy checking out the numerous open air markets that dot the city. Similar to Farmer's Markets, these are a great place to get great prices on locally grown produce. Bonus: You may get a chance to learn some of the local language (Khmer) and it puts you directly in touch with local culture in a low risk, comfortable manner. You do not have to be too adventurous to partake of this ex-pat experience, while collecting charming stories to tell back home someday. Ex-pats may love the local outdoor markets with their fresh, surprisingly cheap in season produce, but for more perishable items, like meat and dairy, many ex-pats prefer to shop at stores geared towards western sensibilities. These are western style grocery stores with air conditioning and refrigeration for perishables. Unsurprisingly, they are more readily available in some of the same neighborhoods where ex-pats tend to concentrate, such as BKK 1 and 2 or the Russian Market. You may especially enjoy the lingering French influence that is clearly present at such places. Their bakeries routinely carry croissants, baguettes and other authentic French style baked goods. Most ex-pats can find all their familiar favorites, just like back home. If you are feeling a bit homesick, you can just stock up on all of your "normal" foods and cook at home, giving some of the local eateries a rest for a bit. Then dip back into Cambodian culture again at will, whenever you feel like it.Wine and Spirits:If you are fond of good alcohol, it is surprising how readily available and affordable such things are in Cambodia. Many familiar brand names, such as Absolut Vodka, are readily available, usually for under $20. You can find wine shops and craft beers. There are bars and restaurants that will serve you cocktails. Happy Hour often means cocktails are half price. A can of local beer from a local shop is astonishingly cheap. You can also find experiences such as weekly rum tastings.Local Transportation:Within Phnom Penh, ex-pats and locals mostly travel by hiring tuk-tuk and "motos" (local slang for motorbikes). Tuk-tuks are carriages pulled by a motorbike. Going across town via tuk-tuk should cost around $5. Shorter trips within the city will be less.If you are traveling alone, you can catch a ride for a small fee on a moto. This will be cheaper, but more of an adventure. They are not particularly regulated here, thus most drivers are engaging in a casual form of unregulated entrepreneurship. Pretty much anyone who owns a motorbike can hire themselves out. They do not usually provide helmets for their passengers. Of course, they typically do not wear a helmet themselves either. Taxis can be found, but they mostly service the airport. If you really want a taxi, you should call and arrange one. They do not typically cruise the city looking for passengers, so it is not realistic to assume you can readily flag one down. In 2015, local bus service was established in the city. Unsurprisingly, given how new the system is, routes are limited and service is not yet reliable. This is something to look forward to for the future, but not something you should count on for basic transportation just yet.Travel Outside of the Capital:Phnom Penh’s International Airport is still being upgraded. Its ongoing expansion has added more international flights, both to and from the capital. There are multiple daily flights to Bangkok, Thailand, and Ho Chi Minh City, Vietnam for less than $100. For about $50, you can take an Air Asia flight to their Kuala Lumpur hub, and from there go on to other parts of Asia. Although the local bus service is in its infancy, regional bus service has been around for some time. Thus, it has had the opportunity to mature. Typically for less than $20, you can find air conditioned buses to most parts of the country via Giant Ibis. For not much more money, it is also possible to find buses that will take you to a bordering country, such as Thailand. If you wish to go someplace not on an established bus route or you wish to retain additional control over your schedule, for a bit more money, you can also hire a car and driver to take you anywhere you wish to go.A Magnet for Foreign Nationals:Phnom Penh has much of the charm and opportunity that our parents found in so many places around the world, but which is nearly non-existent these days. This unusually low cost cosmopolitan city offers ready access to relatively obscure, exotic regional destinations. Plus, it has economic access to major markets, such as India, China and Australia. This makes it one of the few places left in the world where educated people from more developed nations can find abundant career opportunity while living like they are on a permanent vacation.Retiree’s Mecca:InternationalLiving.com’s Annual Global Retirement Index has just named Cambodia as 1 of 3 top retirement destinations worldwide. The retirement index seeks to compare and contrast retirement destinations around the world – all of which are exhibiting relatively low costs of living by global standards. Retiring in weaker economies is becoming a global trend for expats from more expensive, developed economies, as the relative costs of living in cheaper retirement destinations guarantees a better quality of life for pensioners. In the past 10 years the Kingdom of Cambodia has become one of Southeast Asia’s most up-and-coming destinations for tourists and expats looking to enjoy the exotic charm of a country that also offers the most attractive cost of living in Asia.Cambodia has flexible visa requirements for citizens of Western countries who can obtain annual long-stay visas with a minimum of paperwork and a processing fee of just $285 per year. When you get there, everything from entertainment to renting is very affordable in Cambodia. Meanwhile, the Cambodian government looks set to make it even easier to retire in the Kingdom…Meanwhile, the government has released plans to increase Cambodia’s attractiveness as a destination for foreign retirees, according to a draft policy from the Ministry of Tourism obtained by the Cambodia Daily. “The draft includes a range of proposals to extract more income from Cambodia’s tourist industry by encouraging foreigners to buy property and stay longer in the country, with involvement from the ministries of tourism, finance and land management,” said the Cambodia Daily report.The proposed policies are said to include measures such as the development of “special residences” throughout Cambodia with commercial tourist properties and a wide range of useful facilities. “Special tourists” such as retirees would have the right to buy, rent or sell property in these special residences, and also be entitled to longer-term and more flexible vi­sas, according to the draft of the policy.Enjoyed the Expat guide to Phnom Penh? Learn more about real estate investment in Cambodia!
J & L Property Development Launch Sky Tree Condominium sales!
J & L Property Development Launch Sky Tree Condominium sales!
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
Yesterday, J & L Property Development officially announced the launch of Sky Tree Condominium in Phnom Penh’s Russey Keo district. J & L Property Development have over 20 years of local experience in Cambodia – and are working in strategic partnership with the world-renowned constructor MCC International Corporation of Beijing, China; Urban Architecture, the most innovative and respected architecture company in the Cambodian market; Knight Frank, the renowned UK real estate consultancy firm; Century 21 Cambodia; CBRE Cambodia; Matsu Property of Taiwan; &, of course, Realestate.com.kh, the premiere real estate search website and media agency in Cambodia.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM  Guests of honor included Mr. Scott Wu, General Manager of J & L Property Development Co. Ltd, Mr Chen Shaochun, President of MCC International Corporation Ltd., and Mr. Sun Qingdong, Vice President of MCC International Corporation Ltd. As Mr Scott Wu, General Manager of J & L Property Development, said at yesterdays conference, "J & L Property Development is the main facilitator and owner of the Sky Tree Condominium project, bringing in world re-known and highly respected specialized partners in developing, planning, constructing, managing the various stages from start to completion, launching of project in accordance with the needs and means of the country, international standards and in a timely manner. J & L has a vision to help Cambodia to bring the country's image into the world property markets, and to do so is creating a world class product by collaborating with renowned partners." J&L wish to make affordability of owning a condo, as a prime objective, by lowering prices as much as possible, suited to the local demand and financial means, but meanwhile maintaining a high quality finished condo product. J & L will provide a "one-stop" solution by bringing a foreign bank into the partnership to provide "hassle- free" housing loan directly to the buyers and investors of units at SKY TREE project. Local and International buyers are only required to pay an initial deposit of 10% of the total purchase price. This is affordable for local buyers. Buyers then have access to finance for the rest of the payment, with 40 months of interest free finance to pay the balance 20% of the purchase price, then 70% bank loan available for all buyers for the remaining balance, with up to 15 years repayment. Sky Tree Condominium units start from just $89,440 NET. J & L’s founder, Mr. Simon, had a wish to create a healthy lifestyle for those living in the city of Phnom Penh, by introducing high technology based parts and materials imported from overseas, such as eco-friendly materials, air-tight window frames, tinted window glass frames, green features and nature built within the development.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM J & L Property Development wish to be a "catalyst" in quickly developing Phnom Penh into the world market for property investment; and is approaching major players in key markets in order to combine their regional expertise and expose the Phnom Penh market to their huge networks. J & L wants to ensure the safety and well being of the buyers and investors for the life of the development, and as such have partnered with one of the TOP construction companies in the world - MCC International Corporation from Beijing. The C.E.O and family will also be staying and living in the condo upon completion. Construction has already begun at the Russey Keo Site. Mr Sun Qingdong, Vice President of MCC International Corporation LTD, stated that "MCC ranked 326th among the world’s Fortune 500 companies and 10th in Engineering News-Record’s Global Top 225 Contractors. At MCCI, we specialize in designing and building the strongest portfolio of engineering feats around the world. MCCI has branches, subsidiaries and representative offices in Southeast Asia, Middle East, Africa, South America, etc. MCCI is proud to offer engineering, construction and overall strategic support for J & L Property Development Co. Ltd. Cambodia’s current and future projects." With the strategic support of MCCI Corporation, construction has already started at the site in Russey Keo, Phnom Penh - long before the sale’s launch. Phase 1 will be completed by 2019, ready for handover to buyers.   Mr. Melvin Baroga, Head of Design Department, Urban Architecture Co., Ltd, stated that "the design of Skytree Condominium is based on a strong desire to create an architectural impression that exemplifies grandeur. Pronounced perpendicular lines that extends from the podium up to the roof communicates a feeling of superiority from the surrounding buildings. Combination of horizontal and vertical design elements are used to communicate solidity. It creates rectilinear forms that suggests stability and permanence." "Residents can enjoy lounging by the swimming pool surrounded with greeneries or relaxing at the SPA and massage room. A mini-rainforest adjacent to the pool area is provided for those who wants to be immersed in the nature experience that Skytree has to offer. The spacious sky park on the connected roof decks is an ideal place for fitness and exercise. It offers a central space for residents to gather in the evenings," said Mr. Baroga. Although this is J & L’s first Cambodian project, it will be the start of many more to come.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM
Real Estate News Recap, April 26 2016
Real Estate News Recap, April 26 2016
June 6, 2022, 5:06 p.m.
Realestate News
Welcome to another real estate news recap, from Realestate.com.kh - your leader in property information! Keep up to date with market changes, and be an investor with FORESIGHT! Cambodia Microlending Industry Expands:As the consumer economy grows, many foreign investors are thinking it wise to establish businesses that would be mutually beneficial for both them and Cambodia. One of the interested companies who want a slice of the pie is Japanese-owned Mothers Financial Japan Plc. The microfinance institution aims to give Cambodia’s microlending industry a competitive edge as it introduces lower monthly interest rates of 1 to 1.8 per cent. This will provide access for 20 to 30 per cent of the 3.4 million families who are still in need of financing.Five More Protected Forests in CambodiaFive forests that were previously owned by the ministry of fishery, agriculture and forestry are set to be made into protected forests as part of Cambodia’s efforts toward biodiversity. Minister Say Samal said that this plan was developed roughly two-and-a-half years ago but had only been approved recently.  Though environmentally geared towards biodiversity, this also means that there’s one less area where infrastructural developments can be made. Will the government decide in the long run that this wasn’t such a good idea and will this affect major investment in potential businesses? We hope not.Cambodia Gives Multilevel Marketing a Chance?Multiple advisories were released before by the Securities and Exchange Commission of Cambodia regarding MLM scams and abuse, but it seems that Malaysian-owned company Zhulian Corp Bhd may be able to convince them otherwise. With plans of business expansion, Zhulian Corp Bhd is eyeing on Cambodia and Laos as another location for investment. With the decline in demand in Thailand, the company suffered substantial loss but ultimately gained thrust once more when they decided to make a few more investments with outside entities and business partners. Zhulian Corp Bhd carries items like jewelry and gadgets. Having said this, it may not be far off too that they would adjust their business model and profit from the country’s growing real estate industry.Preview of Stars of Kovan While Cambodia has had its fair share of profits and loss, Singapore is making headlines as they finally unveil their first commercial development that’s British-inspired. Though a new development concept may not appeal to the general public, it’s estimated to have a grand total of 390 condominium units, five strata houses and 46 strata shop units that will ensure profit for its developers who plan on completing the project by 2020. From Cambodia to Thailand  It’s been no secret that there is tension between Thailand and Cambodia, most especially with regards to Preah Vihear where Cambodian officials had closed the Thai entrance to the Hindu temple complex. This is one of the reasons why Thai soldiers decided to create a scale model of the complex along their side of the border. They hope to attract more tourists to their side as the months go by. Though Thailand may have waged a big game of tug-of-war against Cambodia with its tourist population, Cambodia is still a force to be reckoned especially when it comes to real estate. Research shows that there was a 60 per cent increase in condominium prices since 2009 in Thailand but is still relatively cheap while Cambodia remains to be competitive in terms of its real estate financial affordability.
TK Royal One: Modernity has arrived in Phnom Penh
TK Royal One: Modernity has arrived in Phnom Penh
June 6, 2022, 5:06 p.m.
Realestate News
With over 30 years of experience in the property development business, the Taiwan-based TC Royal Manor Co., Ltd. steps back into the Cambodian prime development’s market with their latest project: TK Royal One. TK Royal One started construction in early January 2015 and is slated for completion by the end of 2017. The project is located along the city’s main artery street, Russia Boulevard - well positioned in front of the renowned Royal University of Phnom Penh. The new project is also conveniently backed onto street 122, meaning easy access off the main road for those using the extensive car parking facilities.On your doorstep, find great cafes and eateries, such as Brown Cafe, the Pizza Company and the TK Avenue shopping plaza and cineplex. And for International buyers and those that work in Phnom Penh, TK Royal One is just a 10 minute drive to the Phnom Penh International Airport and the Phnom Penh Special Economic Zone. The project offers both office and residential units, providing state-of-the-art amenities suited to a modern urban lifestyle. Freehold ownership is available to both local and foreign buyers, with prices starting from $2,800 per square meter. And there are more than just condos and offices in this new project - all tenants will enjoy fully managed services such as the gym center, swimming pool and rooftop garden overlooking the entire city. Luxury, security, privacy are the hallmark features of the International Grade TK Royal One project.Taste a life that is defined by modern living - and don’t miss out on this great investment opportunity. Inquire with the professional sales consultant team today!
Develop your Real Estate Agency Capacity, Realestate.com.khTV
Develop your Real Estate Agency Capacity, 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 week’s show, we’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 6: HOW TO DEVELOP YOUR REAL ESTATE AGENCY CAPACITY AND PROFESSIONALISM IN CAMBODIARealestate.com.kh: As a business development director at Vtrust Appraisal, obviously you do a lot of work helping real estate agencies increase their capacity. If you could give maybe the top four tips that you would give for real estate agency development? How to build a successful real estate business in Cambodia?In Sitha: Well, I think the four major factors that should be applied in order to make a successful real estate agency in Cambodia are Location, Human Resources/Training, Investment Capital and Marketing.Location is one of the key factors for a successful real estate agency business. Companies that are physically situated in the right locations for client’s easy access generally have the best success.Number two, human beings. Human Resources are crucial for any real estate agency. And this means the right people for the right jobs. Professional training for the agent shall be important and necessary too, and training should not stop during their career.Number three, Investment Capital. Any new real estate agency must be ready before starting at all for more than short term operational expenses. They need sufficient investment capital for at least three years. We have 2000 in real estate market in Cambodia and it is good. But in fact it's not enough. They have to pay a lot of operational expense. The staff salary, utilities, licensing, certificates, marketing etc etc. Be prepared before you try to start a business, because it won’t start generating money for some time.Number four is Marketing - you need to make your agencies known and respected. The best type of marketing these days is online. Learn more about choosing the right Cambodian real estate agent, on realestate.com.kh today!
Why Phnom Penh Boreys are so popular, Realestate.com.khTV
Why Phnom Penh Boreys are so popular, Realestate.com.khTV
June 6, 2022, 5:05 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 week’s show, we’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 4: WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERSRealestate.com.kh: We're seeing a real rise in new borey developments across Cambodia recently. Can you explain why property developers are particularly interested in the Phnom Penh Boreys market? Why build a Borey?In Sitha: Okay. This is a good question. In this industry right now are seeing two main types of major developments: Borey development and condo development.Realestate.com.kh: Sorry, I guess for the viewers, can you explain what a Borey is? - Because I know this word is  used a lot in Cambodia, but for people outside Cambodia, maybe they don't know what a Borey is.In Sitha: Essentially, a borey is a gated community of flat houses, twin villa houses and single villa houses, including public areas, gardens and full security services. Those who want to buy a borey home are looking for privacy, a safe place for their family to grow, areas where communities can develop, and a place where all modern amenities are assured. They are they prefered first home of newlywed Cambodian couples looking to start a new family.Most of the local developers choose to invest in Boreys. The reason is that developers themselves gain a lot of profit from investment in borey projects over relatively short investment periods. The customers themselves also buy into a good environment for family living. It is popular with Cambodian people who prefer landed buildings, or flat houses. In the Borey, it’s generally all some kind of a flat house, link house or villa home. It can be one story or two story maximum. They also generally have a common area and playground for children. Check out the Borey buyers guide!Realestate.com.kh: Like a neighborhood. Like a fenced neighborhood. In Sitha: Yeah, that's right.Realestate.com.kh: They have infrastructure, have water, have electricity.In Sitha: All included. Generally, for a home in the Borey, the market price increase yearly from 10-15%. This is a good investment to the buyer themselves. They can buy this year, and next year they can sell. If the market is good, it could be more than 15% appreciation. Compare the interest rate with the bank, it's much better than investing the bank. Realestate.com.kh: Because the Borey  buyer, they own the land right? They have freehold ownership of the land. In Sitha: Yes they own the plot of land that their home is situated on, hard title generally - but best to check!Realestate.com.kh: Now lots of local people move away from the city center to the Borey’s on the outskirts of town right?In Sitha: Yes, that's what you see. The Borey developments are long line investment development projects. Which means that the developer spends much more time on the investment, starting from the early master plans and filling the totally undeveloped land.Realestate.com.kh: Maybe fill the land.In Sitha: Yeah, up to the completion of the development projects. The marketing time also takes longer to promote and ultimately sell it. Borey means one community. And each household  shall pay the management fee. Management fees are reserved for the security, reserved for the public life, reserved for the street cleaning, pool and playground for children- garbage collection as well. Boreys offer great security to families.Realestate.com.kh: More of a community lifestyle too?In Sitha: Yeah, yeah.Check out the latest and greatest borey properties, on realestate.com.kh today!
Common mistakes of Property Developers in Cambodia, Realestate.com.khTV
Common mistakes of Property Developers in Cambodia, Realestate.com.khTV
June 6, 2022, 5:05 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 week’s show, we’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 5: COMMON MISTAKES MADE BY PROPERTY DEVELOPERS IN THE CAMBODIAN MARKET, AND HOW TO AVOID    Realestate.com.kh: What are some of the most common mistakes that you see developers making when they first come to Cambodia?In Sitha: Well, the most common mistake that the property developer makes when entering the Cambodian market is moving too fast. Before starting any project a feasibility study is crucial. And they need to get recommendations from professional real estate agents.Realestate.com.kh: They're moving too fast?In Sitha: Before starting the investment, yes. That's why they could not identify the right location for the right project. Developing and selling are not separate. You need to consider your market before you even break ground. Which means that my recommendation, I would like them to use a professional real estate agent to teach the international developer about the local real estate market conditions. At VTrust Appraisal - we can do that. We are experienced and skilled in the real estate industry since 2004. We are the first to get developer and agent license from the Cambodian Security and Exchange Commission of Cambodia. Feasibility study is the most common service that developers request us to do before entering into this market.Realestate.com.kh: So many developers are coming in and doing everything too fast. They think the local market is the same as the Singapore market or Malaysia market and they're very surprised.In Sitha: Yeah, that’s true. First of all they need to do the market research. What is the best area for starting the project? The project is built based on the available investment capital. We would like to get the best return on that investment capital. Realestate.com.kh: The right property, the right price and the right market.In Sitha: That's right.CHECK OUT CAMBODIA'S SMARTEST NEW DEVELOPMENTS
Young Real Estate Entrepreneur Thinking Inside the Box
Young Real Estate Entrepreneur Thinking Inside the Box
June 6, 2022, 5:04 p.m.
Realestate News
Kampot native, Lun Vuthy, started his career in Phnom Penh working with a Vietnamese company importing secondhand freight containers into Cambodia.While his first employer focused on reselling the containers for storage purposes, Vuthy spent his early working years online on his smartphone surfing innovative container refurb projects around the world.As he surveyed condo blocks, cafes, office centers and recording studios in urban centers around the globe, he soon saw the architectural potential of the metal boxes his business was dealing.“Containers represent a kind of blank canvas. They are just a shell of of a building, but the artistic interior and exterior design possibilities are endless,” says Vuthy.Three years ago, Vuthy’s Vietnamese employer closed up shop in Phnom Penh and left the Cambodian market. Vuthy kept the list of container import contacts and launched his own startup business: Vuthy Container.Three years later, the 28 year old real estate entrepreneur has 15 staff and growing, and is involved in an eclectic mix of container-based real estate development projects.For the first year, Vuthy’s bread and butter was mobile office space. Vuthy buys the container shells from China, Vietnam or Korea at around $1000 per piece, and then sets about upgrading them for specific residential and commercial uses.Fully fitted office containers, complete with carpet, insulation and air conditioning sell for around $3000 for a 25 square meter unit. These have proven a hot ticket for construction and development companies, farmers, factory owners and those in need of supplementary business space. Some local TV stations have also implemented Vuthy’s containers as noise-proof recording studios.Yet, nowadays Vuthy isn’t just dreaming of more adventurous real estate projects.The most unique and extensive project to date is K-Race Container Pub on street 59, Daun Penh. K-Race Container Pub is a bar, restaurant and live music venue made from a set of 20 connected freight containers.For this project, Vuthy Container worked closely with the architect to create a creative but functional venue. K-Race, now open for business, plays on the industrial theme, waited by staff adorned in hard hats and overalls. The interior of K-Race is also defined by recycled features, such as the bottle windows and re-fashioned 40 gallon drum loungers.Another upcoming project will see Vuthy Container working closely with a German/Malay couple designing and building a Bungalow style hotel in Kampot, again consisting of a collection of recycled containers.A Singaporean F&B vendor in Phnom Penh is also working with Vuthy to launch an inner city cafe with a collection of six containers.Vuthy too sees significant opportunities for his enterprise to enter the Cambodian affordable housing market. For less than $6000 per unit, a 30 meter square container can be renovated into a 3 room abode, subdivided into a toilet, bedroom and livingroom/kitchen.The ease of stacking containers into blocks of apartments also create the potential for land-size-sensitive urban affordable housing projects using containers.By insulating with materials such as styrofoam and mineral based “rock wool” and installing vents, fans or aircon, as per the end user’s needs, Vuthy manages to create extremely price effective and highly livable spaces.Vuthy remarks that, “Containers are well suited to the Cambodian market - and especially in the cities. They are very affordable, they are structurally sound and weatherproof, they take up only a little space - and they are always available.”“By reusing and re-purposing containers there are a lot of winners.”Get in touch with Vuthy today: 089 / 098 / 068 822977