Siem Reap attracts millions of tourists every year, leading to the city's boom in the past decade. Photo by Khmer Times.It was almost 6 am when the bus rolled into an open garage somewhere along Sivatha Boulevard. It normally takes a while for Bun, a Phnom Penh resident and heavy sleeper, to get up from an overnight trip. But today was different. His 6-hour cross country ride had a purpose: To see if he can start a business in Siem Reap.Bun first came to Siem Reap in 2010 and saw a city teeming with people. He was not surprised at the sight, considering the city has been receiving a lot of international attention. What caught him off guard was how relaxed the city’s atmosphere was.“Siem Reap felt different from Phnom Penh,” recalling the day he first came to the temple town. “It was active but not busy”. The roads were lively with tourists and locals, tuk-tuks and motorbikes ferrying passengers, and street food vendors peddling Cambodia’s fried delicacies. He knew then and there what he needed to ride the city’s growth.Bun came back to Siem Reap in 2011 in time to ride the wave. It took some time before he found a suitable place to renovate into a guesthouse with a small kitchen that can serve breakfast meals. “If there’s anything I know about tourists it’s: They get up, eat breakfast, and spend the whole day outside”, sharing his guesthouse philosophy.The turn of the decade in 2010 was a golden time for Siem Reap. Tourists from all over the world were flocking to the city, wanting to see the majesty of the Angkor Wat temples, specifically the Ta Prohm temple where Tomb Raider was filmed. After tourists spend the day in the temples, they go to Pub Street at night where they drink their exhaustion away and party until they’re told to leave.“But now, it feels like I have to make the choice to either stay or leave”, said Bun grabbing a small towel and disinfectant to wipe down a freshly vacated table.Siem Reap in the time of COVID-19Siem Reap's night markets are one of the city's key shopping areas. Photo by Our Travel Mix.The risk of contracting COVID-19 and its burden on the local economy are of equal concern to the people of Siem Reap. The roads once bustling with tourists wandering around, tuk-tuks kicking up dust, and fried insect peddlers with their recorded ads blaring on megaphones are now mostly silent.“I can’t remember the time when Siem Reap was this quiet,” said Daka Kun, a long-time resident of the city and founder of Daka Kun Realty, a popular real estate agency in Siem Reap staffed by local real estate experts. “COVID hit a lot of local businesses like pubs, restaurants, and local markets. They’ve all been hurting since Q2 2020.”As of April 2021, the Ministry of Tourism reports a drop of over 90% in foreign tourists, a blow to Cambodia's tourism industry valued at over $4 billion annually. The government has so far (July 2021) rolled out its 9th round of economic aid to provinces struggling due to COVID-19.Construction is currently ongoing along Siem Reap's major roads. Photo taken in June 2021 by Daka Kun Realty.Popular areas like Pub Street and the Old Market were once packed with locals, expatriates, and tourists on a daily basis, more so towards the end of the year. These places are no longer as busy, even among locals, given how community incidents back in November 2020 and February 2021 displayed how a cluster of less than a dozen can lead to a city-wide lockdown.“Residents of Siem Reap are still very careful about going out and maintaining social distance,” said David Granger, the Branch Manager of IPS Cambodia, a premier real estate agency servicing expatriates and Khmer buyers. “Not a lot of people go out on the weekends”“They tend to meet in smaller groups at private locations,” noting that residents, both locals, and expatriates have learned to live with the regulations. “Some of the bars and restaurants on Sok San Road, Sivatha Boulevard, and behind Pub Street do have foreigners visiting, but not in large numbers.”Siem Reap businesses that managed to weather COVID-19’s impact have maintained a few regulars that support them. However, most have shifted their models to adapt to the new climate. “Businesses have had to rely on food delivery apps, social media advertising, and their own promotions that encourage deliveries,” David said.From tourist market to buyers’ marketThe lack of tourists has given authorities the space to work on improving the temple grounds. Photo by Daka Kun Realty.Siem Reap may not have the crowd that it used to but it still attracts visitors, albeit a different kind. Daka Kun often sees them entering their office in Taphul village, and is upfront with what they need: “I’m looking for property here”.The news of the temple town’s hard times have reached far and wide within the Kingdom, attracting keen investors looking for properties well under market value. Both Daka Kun Realty and IPS Cambodia have observed this trend grow more pronounced in recent months.According to Daka Kun, buyers coming to Siem Reap often look for properties for as low as 40% below market price. She notes areas such as Svay Dangkum, a big commune in Siem Reap, and Sala Kamreuk, an area popular among expatriates, are locations often considered by property buyers if they are not looking for commercial properties in the city centre.“Siem Reap may be going through tough times but most people here know the value of their land”, Daka resolved that most properties for sale have not adjusted their asking prices unless the owners are strapped for cash.David similarly observed property sales prices in Siem Reap largely remain unchanged, saying “We [IPS Cambodia] have cash buyers who are both local and foreign buyers and they are looking to buy in any part of Siem Reap where they can find distressed sellers”.In terms of property buyers look for, villas, shophouses, and flathouses are the most common residential properties being considered. David notes that the market for well-priced, western-style homes and villas remains strong, due to strong demand for home purchases and a low supply of these properties on the market.Angkor Grace Residence & Wellness Resort is a major development in Siem Reap offering western-style properties for local and foreign investors. Supplied.Angkor Grace Residence & Wellness Resort is an example of western-style homes that are in demand for property investors. The project will be the first condo-resort that will offer freehold ownership for both local & international clients. Angkor Grace offers a 10 years leaseback with 7% to 8% guaranteed rental returns per year, making it an opportunity to invest in western-style homes in Siem Reap.While Siem Reap’s property sales market has managed to maintain interest, the same cannot be said for rental properties. “It’s been tough.” Bun cleared his throat, “I’ve tried a lot of things from cutting on overhead, offering package deals, to outright reducing prices. I consider it a win if I break even for that month”.Siem Reap's Pub Street is one of the most popular destinations for tourists throughout the day. Supplied.Siem Reap has a population of over 1 million residents according to the latest edition of the General Population Census 2019. This number swells by as much as another 2 million from the tourists arriving and departing the city annually. But as COVID-19 persists, tourist figures have dropped by as much as 77% so far in mid-2021, only being kept afloat by visiting locals.The drop in tourism forced many rentals to either slash prices or suspend operations altogether. “Rental prices dropped to 30% with some to almost 50% below what they were before COVID”, David said. He attributes the sharp decrease in rental demand to international borders being closed, adding that many tenants are moving out of their rentals to find lower-cost accommodations. “Hotels, guesthouses, and serviced rental apartments have been hit the hardest,” Daka sharing her observation of the market. “Prices for rental properties still operating have adjusted anywhere from 30% to 50% below their pre-COVID values. Not just because of the lack of tourists but also expatriates looking for cheaper places to live.” Daka adds that a considerable amount of businesses operating in Siem Reap are foreign-owned and the continuing slump in foot traffic has forced many expatriate owners in the city to look for more affordable places to live.It has become increasingly apparent among Siem Reap residents that the longer COVID-19 persists, the longer it will take to get on the path to recovery. However, an equal number of residents are starting to notice that they may well already be on that road.Improving more than 38 roadsThe 38-road project is a major infrastructure project by the Cambodian government to improve road access in and around Siem Reap. Photo by Daka Kun Realty.“I think calling it as the 38-road project understates the scope and the value of the project,”  David Granger said, referring to the extensive work currently turning much of Siem Reap’s road networks inside out. “Whilst the project does include the construction and upgrades of 38 roads, it is providing more benefits than that alone.”In November 2020, workers first broke ground on what would be popularly called the 38-road project. The massive infrastructure endeavour, estimated to cost $150 million, is part of the Siem Reap Tourism Development Master Plan 2020-2035, an apt name for an equally long-term goal.The 38-road project is an extensive government project that includes improving and rehabilitating the drainage & sewage systems, electrical infrastructure, and construction of pedestrian walkways and bicycle paths across Siem Reap. This has led to much of the city’s roadways and sidewalks being turned upside down, including those along Pub Street and the Old Market. It is no stretch to say that the project is one of the biggest Siem Reap has seen in recent years. As of June 2021, progress on the 38-road project is at 63% and is expected to finish on schedule by the end of the year.The 38-road project encompasses works on roads, sewage & drainage, and even sidewalks. Photo by Daka Kun Realty.Many in the city, like Bun, believe the project will have an overall positive impact on Siem Reap. “Yes, it’s difficult to move around today. But it’ll make the trip to my girlfriend’s house a lot smoother,” Bun laughed, momentarily forgetting his worries. “This part of town has always had a dirt road, so I look forward to walking on a proper sidewalk.”The boon to Bun’s romantic trips is not the only benefit the 38-road project would bring. IPS Cambodia’s David Granger is confident that the project will improve the quality of life in the city. “Residential and commercial areas within a 2km radius of the city are going to see vast improvements in infrastructure. Those within a 5km radius of the city are going to see improved access and spur development of new residential areas. And property owners up to 10km out from the city are going to enjoy better connectivity to the city centre and other parts of Siem Reap,” he said.Better road access and connectivity always drive real estate values up significantly. It also happens to be a given that Cambodian real estate investors keep their ears on the ground for the next big infrastructure project.Popular roads around Pub Street and the Old Market are also being worked on and are expected to increase accessibility to these areas once finished in Q4 2021. Photo by Daka Kun Realty.“The 38-road project is one of the factors driving interest in the city,” said Daka Kun. “People know it will be a good thing for Siem Reap in the long-term, so they are looking to buy property near these roads today”. Daka Kun notes that outer parts of Siem Reap may see a considerable jump in prices, especially if the property is by the roadside. “There are land properties in the city outskirts worth $20 to $30 per square metre that will see significant jumps in 2-3 years following the road project’s completion”, she added that city centre properties may also see a boost of around 20% in value, a more modest increase considering downtown properties are already pricey, to begin with. But roads are not the only things being worked on in Siem Reap.The new Siem Reap International Airport will be some ways away from the city centre but will allow Cambodia to accommodate more tourists in the coming decades. Supplied.The new Siem Reap International Airport is another project set to boost the city’s capacity to handle tourists. The new airport is located 51km southeast of Siem Reap and began its construction in March 2020. An extensive project of its own, it occupies 700 hectares and includes the construction of new 4E runways, taxiways, airside stations, terminal buildings, operational support projects, and external facilities including highways - all to accommodate a projected 7 million tourist arrivals every year. The project is reported to be 42% complete in May 2021, with expected completion to be sometime in 2023.The 38-road project and the new Siem Reap International airport are a few examples of the Cambodian government’s plan to keep the country competitive despite a sluggish global economy. It is quite clear among public officials and private groups that COVID-19 will not be letting up anytime soon and playing the long game would be the more beneficial path to take.The future of historic Siem ReapThe Angkor Wat grounds are regularly maintained by Cambodian authorities despite virtually little tourist activity. Photo by Daka Kun Realty.Siem Reap and its temples are often looked at by international observers as a tourist town. The city’s economy is largely built around the interest the Angkor Wat Temple generates via international tourist arrivals and the businesses that follow. But what most outsiders overlook is how the temples are much more than a source of income for Cambodians.“Angkor Wat is a source of pride for the Khmer people,” said Daka Kun. “Our ancestors built these magnificent structures and that gives us something to be proud of.” She mentions that the lack of tourists has not stopped Siem Reap residents from visiting the temples. Both locals and expatriates still hold picnics on the open grounds, run laps around the temples, and even enter the complex to experience the temples by themselves.“The Angkor Wat is featured on the Cambodian flag and is a powerful symbol for the country,” said David Granger. “Angkor Wat is referred to as the 8th wonder of the world and is the largest religious structure in the world, meaning there will also be a fascination in this temple complex by international visitors”David explains that because the temples are part of the UNESCO listing, Siem Reap city is protected from the overdevelopment that befalls other cities. This ensures that Siem Reap will always retain the charm that makes it such a popular city to live in and to visit.“We expect that when pressure from COVID on the international economies begins to fade, the benefits of the infrastructure project will begin to be seen with the unfreezing of price rises in the Siem Reap property market,” he said.For business owners like Bun, infrastructure developments like the 38-road project and the new airport are signs that Siem Reap will remain to have a bright future. “Siem Reap may not have the same vibrance as before,” said Bun, “But people here have not lost their spirit and we’re all ready to welcome tourists back once COVID-19 is over”.*This article is part of Realestate.com.kh’s Industry Insights series. Check Realestate.com.kh's property listings in Siem Reap today!Article by:

The PARC 21 Residence is extending its special offer with another round of discounts. Buyers can get a minimum of 6% discount for the whole month of July!The popular project has been well received as one of the few developments that build on Chamkarmon’s status as the more affordable alternative to centrally located districts like BKK1 and Daun Penh, without being too far away!What makes the PARC 21 Residence popular?Despite the ongoing pandemic, the keenest of property buyers are still looking for property in Phnom Penh. The PARC 21 Residence is one of the few developments offering a clear value proposition to many buyers and investors on the hunt for the best prices possible.The PARC 21 Residence is a new 132-unit residential property being developed in Boeung Trabek, Chamkarmon. The project adopts the Singaporean residential concept of “A City in a Garden”, which sees the use of smart spatial planning to create a comfortable living environment in the middle of a busy and growing area.As a result, PARC 21 has attracted a portion of young Cambodian professionals looking for a comfortable place to live close to a lot of shops, restaurants, bars, and markets. The PARC 21 Residence has also attracted many families, especially expatriate families. The project is close to international schools such as the CIA First International School, Canadian International School, iCAN British International School, and the International School of Singapore (ISS).Local markets such as the Boeung Trabek Market and the popular Russian Market are nearby (less than 3 minutes). Modern shopping centers are also within a comfortable drive. The AEON Mall 1, the most popular purpose-built shopping mall in Phnom Penh, and the Chip Mong Noro Mall, one of the newer shopping malls along Preah Norodom, are both less than 10 minutes away.All these conveniences resulted in the PARC 21 Residence closing over $700,000 in property deals in just 1 week of an exclusive partnership with Realestate.com.kh and FazWaz Cambodia - one of the highest sales figures achieved in such a short time during a pandemic.Interested in learning more? Download the free brochure or inquire about the project through our listing!DOWNLOAD FREE BROCHUREORVIEW PARC 21 PROPERTY LISTINGArticle by:

Weekly property news recap for real estate-related events this 4th week of June.PARC 21 Residence closed over $700,000 property deals in first week of exclusivity with Realestate.com.kh and FazWaz CambodiaPhnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal. Read the full article here.MPWT completes feasibility study on Phnom Penh Monorail and Subway projectThe feasibility study of the Monorail Way and Subway project for Phnom Penh has been completed, according to Sun Chanthol, the Minister of Public Works and Transport. In the report to Say Chhum, the President of the Senate, the MPWT Minister shared the achievements and progress of the Ministry with the rest of the government ministers. Read the full article here.“A new look” for Sihanoukville after online gambling and initial impact of COVID-19Despite the bygone days of casinos, Sihanoukville managed to still have aces up its sleeves. Check out these photos showing how Sihanoukville progressed through the gambling ban and the initial impact of the global pandemic. Read the full article here.Readiness to host SEA Games 2023 boosts confidence in Chroy Changvar propertiesVath Chamroeun, Secretary-General of the National Olympic Committee of Cambodia (NOCC) held firm that Cambodia will not give up the hard work invested in preparing for the games. He also underlined the committee’s efforts in implementing its strategic plans for the SEA Games 2023. The Secretary-General extended Cambodia’s readiness to hosting the ASEAN Para Games 2023. Read the full article here.Do you need help looking for property? Let us help!

The upcoming SEA Games 2023 and ASEAN Para Games 2023 are expected to introduce a new round of interest in Chroy Changvar district. Supplied.In a report by the Khmer Times, Cambodia reaffirmed its readiness to host the upcoming SEA Games 2023.The Kingdom’s commitment to hosting the event was made by Vath Chamroeun, Secretary-General of the National Olympic Committee of Cambodia (NOCC) in a virtual meeting with representatives from the Southeast Asian Sports Federation to discuss Vietnam’s proposal to postpone the SEA Games 2021 to next year.Chamroeun held firm that Cambodia will not give up the hard work invested in preparing for the games. He also underlined the committee’s efforts in implementing its strategic plans for the SEA Games 2023. The Secretary-General extended Cambodia’s readiness to hosting the ASEAN Para Games 2023.The upcoming SEA Games are expected to boost Chroy Changvar as one of the most-eyed property markets in Phnom Penh. The peninsular district has been on the sights of many developers for its pristine natural beauty and the increasing popularity of suburban living, especially among the Cambodian middle and upper class.Developments like The Peninsula Private Residences, La Vista One, Morgan Park Villa, and Morgan EnMaison are popular projects drawing significant attention from property buyers and are becoming established investment properties in the district.The WorldBridge Sport Village will house several sporting facilities allowing residents to live a healthy and fit lifestyle within Chroy Changvar. Supplied.In the context of the SEA Games 2023, however, the WorldBridge Sport Village stands to benefit the most as the project is adjacent to the Morodok Techo National Sports Complex where the SEA Games 2023 will be held.The WorldBridge Sport Village will be the first sports village in Cambodia and occupies a 63,576 sqm area. As the country’s first true sports village, it will offer modern sports facilities like an aquatic centre and training halls & fields. Residents at the WorldBridge Sport Village will get to live a fit lifestyle in any one of the project’s 1,747 residential units made up of condos and landed properties.The WorldBridge Sport Village broke ground earlier this year and is expected to be completed in time for the 2023 SEA Games and 2023 ASEAN Para Games. You can view the full property listing for WorldBridge Sport Village here.Interested in properties in Chroy Changvar? Let us know!

The PARC 21 Residence showroom in The Point Community Mall along Mao Tse Toung Boulevard. Supplied.The PARC 21 Residence recently closed $700,000 worth of units in the first week of marketing and sales with partners Realestate.com.kh and FazWaz Cambodia.In a press release earlier in June 2021, the PARC 21 Residence appointed Realestate.com.kh, Cambodia’s largest real estate classifieds portal, and FazWaz Cambodia, the first tech-enabled real estate brokerage in the country, as its exclusive marketing and real estate partners, respectively.Positive market receptionThe PARC 21 Residence takes inspiration from the Singaporean idea of “A City within a Garden”, a concept using smart spatial planning to create a comfortable urban residence. Supplied.The PARC 21 Residence is a new 132-unit development in Boeung Trabek, Chamkarmon. Its location is a high-traffic area near the popular Toul Tompoung Market (Russian Market) known for its many shops and restaurants and close to two major roads: Preah Monivong and Mao Tse Tong Boulevard, both roads leading to central business districts like BKK1 and Daun Penh, and to developing areas like Sen Sok, Chbar Ampov, and Meanchey.“Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations,” said Pearl Yu, Senior Sales Manager for PARC 21 Residence. “Our location in Boeung Trabek meets this demand for the same urban convenience without the same high costs”.With the help of Realestate.com.kh and FazWaz Cambodia, PARC 21’s vision of providing a quality residence was well received by many property seekers in Phnom Penh.“I liked the style and concept of PARC 21 Residence. It’s in a good location for a great price. I believe it’s a sound investment for passive income”, Mr. Albert, Singaporean, purchased a 2-bedroom penthouse.“It’s just what my family is looking for. It has a great view, feels cosy, and is in the best spot for my family to move around. PARC 21 is especially close to international schools where my children go. For family time, there’s plenty to go to as dozens of restaurants offer local and international food close to PARC 21”, Mr. Paul, British, purchased a 3-bedroom penthouse.“My family has been looking for a new home near the city center for quite some time now. We saw PARC 21 is close to the markets and to an international school my daughter attends. And with the deal FazWaz Cambodia was able to negotiate, it was an easy decision for us”, Ms. Thida, Cambodian, purchased a 2-bedroom apartment.Despite the ongoing pandemic, the PARC 21 Residence quickly closed over $700,000 in sales as it was able to communicate its value through its exclusive marketing and sales partners.ADVERTISE WITH USValue per square metrePhnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal.The PARC 21 Residence offers a great value per square metre compared to other projects within a 5km area. The project is close to many popular commercial destinations such as:Russian market (<3 mins away)Boeung Trabek Plaza (<3 mins away)Chip Mong Noro Mall (<5 mins away)AEON Mall 1 (<10 mins away)Naga World (<11 mins awaySeveral international schools of note are within a comfortable drive from PARC 21:ISS International SchoolZion International SchoolBlueBird British International SchoolCIA First International SchoolThe Giving Tree International SchooliCAN British International SchoolCanadian International School (CIS)East-West International SchoolFootprints International SchoolThe PARC 21 Residence is on track to deliver its units for handover by June 2022. If you’re interested in this project, let us know today!PARC 21 Full Property ListingDownload PARC 21 Brochure

It seems that only a few months ago, commuters on National Road 3 complained about the difficulty of commuting due to the bad road conditions, but recently the Ministry of Public Works and Transport released new updates on the latest progress in the rehabilitation of National Road 3 - soon approaching 100% completion.Senior Minister Sun Chanthol and a joint delegation inspected the progress of National Road No. 3 on June 22, 2021, a long stretch of road from Chom Chao roundabout to Kampot and has a total length of 134 kilometers. The project was built by China Road and Bridge Corporation under the technical supervision of Guangzhou Wanan Construction Supervision Co., Ltd.The project took 48 months to build, with a total budget of $219,911,000, with financial assistance from the People's Republic of China and the contribution of the Royal Government of Cambodia. This project is almost 100% completed.The road will also be equipped with 14 speed cameras and 2 weighing stations. Plans are also in place to install AI Camera and High Speed ​​Weigh in Motion sensors.On that occasion, HE Senior Minister requested all people who use the road to respect the law to take care of our national property to survive and use for a long time because the Royal Government has made efforts to raise funds to build difficult and insisted: "Do not risk overweight transport that causes road damage. Do not cause traffic accidents, do not exceed the speed limit set by law to contribute to the building of our motherland to grow even more under the wise leadership of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia."HE Senior Minister also shared plans to improve National Road No. 41, National Road No. 31, National Road No. 33, the construction of the bridge in Kratie, and some other construction projects to help reduce logistics costs to attract investors.It should be noted that the completion of the National Road 3 project will not only save time and money to travel to the area along the road, but it will also promote tourism to the relevant provinces to attract more tourists.

The BTS SkyTrain in Bangkok is an example of a mass transit system running through a city’s busiest areas. Photo from Property News.The feasibility study of the Monorail Way and Subway project for Phnom Penh has been completed, according to Sun Chanthol, the Minister of Public Works and Transport. In the report to Say Chhum, the President of the Senate, the MPWT Minister shared the achievements and progress of the Ministry with the rest of the government ministers.Minister Sun Chanthol additionally reported that the MWPT cooperated with the Japan International Cooperation Agency (JICA) to plan the development of the Electronic Data Interchange (EDI) Port project, the upgrades to the Phnom Penh Autonomous Port, and the development of a mass railway transport system.The absence of a mass transport system remains a much-needed development sector in light of Phnom Penh’s rapid city growth and expanding middle class. While a growing road traffic volume may indicate increasing economic activity, there are drawbacks such as increased travel time, fuel costs, and environmental damage.While technical specifications of the proposed city train have not yet been unveiled, it was noted that the train and railways will be using materials to reduce noise coming from the train - a factor that will affect the living standards of residents nearby the tracks and stations. The cost of this recently proposed train is reportedly lower than those previously considered.There has been no report on the possible train route as of writing. It is worth noting, however, both residential and commercial properties nearby mass transport projects see a significant increase in value given the nature of mass transport systems making it easier for commuters to go to the busiest areas of a city like Phnom Penh.Article by:

Sihanoukville continues its construction boom even after the departure of online casinos in late 2019. Supplied. Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville blew up as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Boomtowns, like Sihanoukville, are cities experiencing a fast pace of growth but often have limited infrastructure to support them. Photo from the Southeast Asia Globe. Sihanoukville, a once-sleepy beach town on the southern coast of Cambodia, became a boomtown in light of Cambodia’s fast-paced real estate growth and the rise of online gambling operations in Southeast Asia. The latter was a key driver to the city’s growth as droves of operators flocked to the city to take advantage of gambling licenses allowing operations to be set up legally. Online casinos geared towards the Chinese market were the most prevalent in the city attracting many Chinese nationals to move and work in the city. The influx of a new market with higher budgets drove Sihanoukville’s property markets to skyrocket in a matter of months. According to the Khmer Times, the government granted over 160 gambling licenses to operators across the country in mid-2019. Photo from Bloomberg/Getty Images. The city’s boom would soon meet its first slow down as in August 2019, the government decreed that it would no longer accept and renew online gambling licenses. The news rippled throughout Cambodia forcing online casino operators to move out of Sihanoukville and other gambling towns like Poipet (bordering Thailand) and Bavet (bordering Vietnam). According to government numbers, over 100,000 foreign nationals left the Kingdom by early 2020. The exodus of online casinos from Sihanoukville would not be the end of its struggles. As Cambodia ushered in 2020, the outbreak of COVID-19 soon reached the Kingdom with the first positive case of a resident of Sihanoukville province. The already dwindling numbers of international travelers further hurt Sihanoukville’s economy transitioning back to a beach resort/ecotourism for local and international visitors. The COVID-19 outbreak was a blow to the city that put it on its economic knees. Despite the bygone days of gambling, Sihanoukville still had aces up its sleeve. Sihanoukville’s new look in 2021 Photo from Discover ASEAN Facebook. Historically, major port towns throughout history have developed the fastest with some progressing to become the capital cities like Bangkok, Manila, Tokyo, and Singapore. Sihanoukville may not be Cambodia's capital, but it may as well be the queen city of the south as it hosts Cambodia’s only major deep-sea port managed by the Sihanoukville Autonomous Port (PAS). This allows the city to be the gateway of international brands to Cambodia’s growing consumer market. Photo from Discover ASEAN Facebook. As a province, Sihanoukville is home to many Special Economic Zones (SEZs) providing much-needed employment and skills to the area. Sihanoukville also has the Sihanoukville International Airport (KOS) which delivers tourists directly to beaches that have seen many renovations after the departure of online casinos and the lull in international travel. Photo from Discover ASEAN Facebook. The hurdles the Sihanoukville experienced in the past 2 years may have slowed its progress but it has not put it to a halt. On the contrary, it has even allowed for big luxury developments like Morakot Island (Koh Puos) to establish itself as a private island getaway offering large villas in the city. Sihanoukville, on the grander scheme of things, has been afforded the breathing space it needed to quietly transition into an area that capitalizes on its manufacturing hubs, skilled labor, natural resources, and access to the wider international market. Interested in properties in this major coastal town? Check out our property listings in Sihanoukville. Article by:

Phnom Penh, Cambodia - Parc 21 Residence appointed Realestate.com.kh, the largest property classifieds portal in Cambodia, as the exclusive marketing partner for the 132-unit condominium project located in Chamkarmon, Phnom Penh. Parc 21 Residence has also chosen Fazwaz Cambodia as its exclusive real estate agency for the development. Earlier in 2021, Realestate.com.kh & Fazwaz Cambodia announced an MOU in a massive boost for agencies and property developers in Cambodia. Pearl Yu, Senior Sales Manager at Parc 21, noted, “We launched Parc21 in May 2020 in line with the booming tourism market and growing Cambodian middle class. Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations”“Early sales were extremely promising, but of course, no one could predict COVID-19 and the prolonged effects on real estate markets. As a response to the slowdown, we decided to focus less on sales and marketing of the project and focus our efforts and resources on continuing Parc 21’s construction. We can proudly say that today we were only delayed a month due to the pandemic and we are on track to hand over units in mid-2022”“Considering we are handing over in 2022, we reached out to Realestate.com.kh to help supercharge our marketing again, we worked with them when we launched and joined the online sales event in June 2020 where we successfully sold one of our Penthouse units, most impressively Fazwaz Cambodia has closed more than $4 million in condo sales in Q1 2021, during one of the toughest periods to sell units, we were very attracted to both Realestate.com.kh and Fazwaz ability to attract high net worth local buyers and international investors” Tom O’Sullivan, CEO of Realestate.com.kh said, “Realestate.com.kh has been at the forefront of real estate marketing in Cambodia since 2009, we are well versed in where to focus marketing spend to get the best quality leads for developers, separately we also work with all of the real estate agencies in Cambodia so its very efficient for developers to work with Realestate.com.kh to distribute their offers, promotions and marketing material to every agent in Cambodia. Realestate.com.kh, as a marketing platform, is supplemented  by Fazwaz’s strong sales team and strategy and plays a major role in the end-to-end sales and marketing process for Parc21” James Whitehead, CEO of Fazwaz Cambodia said, “We have had the opportunity to work exclusively with multiple developers but we wanted to make sure it was the right project to bring to the market as our first exclusive project in Cambodia, despite Parc 21 scaling down sales and marketing efforts in 2020 they still charged ahead with the construction of the project and handing over next year - this gives us (Fazwaz & Realestate.com.kh) and buyers great confidence to really get behind this project“About Parc 21 ResidenceParc 21 is a residential property development located in Boeung Trabek, Chamkarmon district in the capital Phnom Penh, Cambodia. Parc 21 is developed by JV Parc Residence Co., Ltd, a joint venture between investors from Singapore and Hong Kong.Parc 21 Residence is located in the cosmopolitan district of Chamarkmon. The project is made up of 21 floors with 132 residential units each with a balcony. Parc 21 also boasts several amenities including a swimming pool, jacuzzi, gym/fitness center, and office area to complement its modern residential comforts.Parc 21’s location is an area popular among locals and tourists for its many shops, restaurants, pubs, and cafes. It is a key development strategically located in the south-central area of Phnom Penh with high rates of growth and convenient access to other areas of the city such as Daun Penh, Boeung Keng Kang, 7 Makara, and Meanchey districts.About Realestate.com.kh Realestate.com.kh, established in 2009, is home to over 20,000 live property listings making it the largest real estate classifieds portal in Cambodia. Realestate.com.kh works with the leading real estate agencies and property developers in the Kingdom to meet the demands of both local and international property seekers and endeavours to further develop the larger Cambodian property market as the most attractive real estate investment hub in Southeast Asia.Aside from being a popular online platform, Realestate.com.kh also organized several popular offline events since 2018 that connected real estate agents, property developers, investors, and home seekers with the best deals available on the market.About Fazwaz CambodiaEstablished in 2020 in Cambodia, FazWaz KH is the first tech-enabled real estate brokerage in the Kingdom. FazWaz Cambodia represents a new way of doing real estate by giving anyone the opportunity to make money in the country’s growing real estate market and provide the best service and safest possible investment to property seekers and investors in the country. Contact Information:Tom O’SullivanRealestate.com.kh, CEOtom.osullivan@realestate.com.kh James WhiteheadFazWaz Cambodia, CEOjames@fazwaz-kh.com

Morakot Island (Koh Puos), a scenic Cambodian island off the coast of Sihanoukville city, just a few short years ago, the wild and beautiful gulf coast serving as an exotic destination attracting adventurous vacationers, sport fishermen, and scuba divers from around the world. Today the area is destined to become the new “gold coast” location of Southeast Asia. Morakot Island is a unique, master-planned, luxury residential and resort community, located on one of the most beautiful islands of Cambodia. The island is peacefully removed from the noise and congestion of everyday life, just a few minutes away over the 950m Techo Morakot road bridge from Sihanoukville, the third-largest Cambodian city known for its fast development and innovative business environment. Morakot Island’s natural beauty and welcoming culture attract locals, international visitors, and investors, who sense the near-future opportunity of the region. Morakot Island is strategically located in one of the most exclusive property developments in the Kingdom of Wonder making it private heaven where an incredible experience awaits. It serves well as a residence for those who have plans for this commercial-heavy area, all while providing comfortable living and distance afforded by an island.Morakot Island has an exclusive Villa Collection of 36 sea-front residential lots for its residents. These stylish villas come in 5 different types (Orchid, Lotus, Plumeria, Magnolia, Jasmine). Ranging in sizes up to 565sqm, all are designed with the best in comfort, aesthetics, and functionality in mind. Designed with classical Khmer style architecture, villas are fully equipped with modern interior design, top-notched materials, and amenities that allow residents to enjoy a luxury private lifestyle in the tropical paradise. Get the full experience of living in your own island heaven by waking up to breathtaking sea views that face every villa. Each villa features high ceilings, full-length windows, and doors that open out onto the balconies, taking advantage of the fresh sea breeze and natural light that fills each villa’s generous spaces.All amenities that come with resort living are combined with the comforts of home, made to the highest international standards. Residents will be able to choose from among the many beautiful apartments, bungalows, and villas complemented by a peace of mind afforded by the latest in security technology rolled into each home. Overlooking Instagram-worthy views are the island’s numerous recreational centers complemented by beautiful natural features only found on island properties! For the health-conscious, the island will soon be equipped with a luxury spa and wellness center. They all contribute to making Morakot Island its own self-contained paradise, providing residents with a lifestyle of exclusivity and comfort unmatched by many.Morakot Island would also provide robust transportation options for its residents. Where one can live comfortably, one should also be able to travel swiftly and securely wherever, whenever possible. This is why the island is only 26km away from the Sihanoukville International Airport (which offers direct flights to China, Singapore, Malaysia, Macao, and Thailand, to name a few). Additionally, the Phnom Penh-Sihanoukville National Highway #4, to be completed in 2022, is bound to drastically cut the 232km distance from the capital of Phnom Penh and provide a quick link to residents who want a quick way to the capital and back to the privacy of their island home.The Koh Puos (Cambodia) Investment Group, Ltd. (KPIG), Morakot Island’s developer, envisions the area to become a multi-purpose destination that provides visitors and residents alike only the finest the world can offer. It is to be a venue where the luxuries of an island vacation meet with the comforts of a home residence to create a premium luxury lifestyle.

The Online Flash Sale has officially started with the discount reveals on 15 new developments and dozens of resale properties including condos, shophouses, and land properties all across Cambodia.That’s a lot of properties with great deals to consider! So, Realestate.com.kh is making it easier for you to get started on your home search:Stardream Lake Tourism TownFinal Price: $25,200 (discounted from $36,000)Location: Botum Sakor, Koh KongDeveloper: Coastal City Development Group Co. Ltd.,The Stardream Lake Tourism Town’s expansive land area allows it the space to create a small business center within its vicinity. This project, the biggest to come to the area yet, will soon propel the Koh Kong province as a new investment hotspot in Cambodia, and perhaps even South East Asia.Project highlights:Premium land plots available for both local and international ownership with long-term leaseholdThe whole project is close to the sea and features 2 landscape lakes surrounded by an ecological parkSpacious residential areas supported by a central commercial area to provide for residentsStrategic location in Cambodia's increasing participation in global trade, transportation, and tourismAngkor Grace Residence & Wellness ResortFinal Price: $138,840 (discounted from $178,000)Location: Svay Dankum, Siem ReapDeveloper: Angkor Hearta Development., Co Ltd,Angkor Grace Residence & Wellness Resort is a resort getaway that puts an emphasis on providing the utmost comfort to visitors through its fully-fitted 60 residential units available for a unique investment opportunity.Property highlights:The first condo-resort in Siem ReapThe premier green-focus project in Siem ReapQuality residences by one of Cambodia's reputable companiesPremium amenities to provide a serene and memorable stay75% Guaranteed Rental Returns over 10 yearsVue AstonDiscount: $67,900 (discounted from $78,124)Location: Nirouth, Chbar AmpovDeveloper: The Peninsula Capital Co., LtdThe Vue Aston is a 38-storey luxury waterfront project with residences putting an emphasis on providing comforts similar to what can be found in city centres. It is the most sophisticated upcoming development in Chbar Ampov having only started groundwork in 2020.Property highlights:Prime location in Nirouth, Chbar AmpovSurrounded by OCIC's upcoming Nirouth Satellite CityNear the upcoming Koh Pich-Koh Norea BridgeFull-featured in-house amenities: executive lounge, banquet hall, gym & sauna, infinity pool, and children's playroom (just to name a few!)High-quality residential units with full panoramic views of Phnom Penh's mighty rivers35% Guaranteed Rental Returns over 5 yearsThe Online Flash Sale features a dozen other new developments along with many resale properties across Cambodia. If you haven't registered for the event yet, it's not too late. Free sign up here.

According to a public post by the official Facebook page of the Ministry of Public Works and Transport, the project to build the Phnom Penh-Sihanoukville Expressway has achieved 51.35% completion. The expressway has a total length of more than 190 kilometers connecting Village 1, Sangkat Samrong Krom, Khan Por Senchey, Phnom Penh to Village 1, Sangkat No. 3 Sihanoukville. The project is estimated to finish by May 31, 2023.The expressway project is one of several large-scale infrastructure development projects that are undergoing construction as planned, despite Cambodia still reeling from the impact of COVID-19.It should be noted that the construction of Phnom Penh-Sihanoukville Expressway through Phnom Penh 8.30 km, Kandal 9.10 km, Kampong Speu 80.80 km, Koh Kong 1.92 km, and Sihanoukville 89, 89 km, with a total construction cost of about 2 billion US dollars, invested by the China Bridge and Road Corporation (CRBC) through Cambodian PPSHV Expressway Co., Ltd.The traffic lane for vehicles is 15 meters wide, divided into 4 lanes (2 lanes for each way), the lanes measure 3.75 meters wide, allowing all types of vehicles to drive at speeds of up to 100 km per hour and some places Can reach 120 kilometers per hour. The project includes the construction of seven diversion roads, 28 intersections, 237 underpasses, 20 expressways, and 20 flyovers.Construction of 3 service areas or parking lots, 1 parking lot, 4 road operation and maintenance centers, and 9 toll booths, and all equipped with road equipment, including traffic signs, traffic lights, and signs.Once the expressway project is completed, it is expected to save a lot of travel time, which will be facilitated by cost savings and accelerate the economy as well as tourism activities.

The day we’ve all been waiting for is here: The Online Flash Sale is starting NOW!The Online Flash Sale is featuring 15 new developments and dozens of resale properties offering time-exclusive discounts from June 3 (Thursday) to 6 (Sunday). Don’t miss this chance to own your dream home at a BETTER PRICE!How to get your discount:Sign up for the Online Flash SaleVisit the Online Flash Sale website on June 3 to 6Select among the discounted propertiesSecure your discount with a refundable $200 reservation fee**The fully refundable $200 reservation fee is also deductible from the final sale price.*Payment methods accepted: Visa, Mastercard, UnionPay, and ABA Payway.Don't miss this chance to get a discount on your dream home - only during the Online Flash Sale!

VTrust Express Co., Ltd., a real estate appraisal company in Cambodia, recently signed a memorandum of understanding with the Credit Bureau Cambodia (CBC) to integrate digital real estate appraisal services.The joint venture between the two companies will create a real estate appraisal service called Indication Plus. Indication Plus will allow clients or partners with real estate appraisal needs to find and request access to CBC's credit history management platform.According to Mr. Vong Sokhal, Chairman of the Board of Directors of VTrust Express, Indication Plus is a modern and accurate real estate appraisal service that can analyze and issue preliminary real estate appraisal reports fully and automatically. This digital appraisal service is formulated by Real estate professionals using international real estate appraisal standards. Indication Plus This allows users to use it wherever they are.Oeur Sothearoth, CEO of CBC, pointed out that about 50% of the loans given to borrowers in the market are secured by the property being applied for, so, finding out the value of the property is very important in assessing the credit. He also strongly believes that the cooperation between the two companies will bring high efficiency to the financial sector.

(Phnom Penh): What customers have been waiting for a long time has arrived, Tulip Shop House is launching a new block from today with more profitable payments, just pay starting from 1% Of house price with no interest and no deposit required.This type of shophouse is located right next to the main gate of the project itself, along 105K road, with house size (4.5m x 18m) and land size (4.5m x 22m) and up to 3 floors and is the best location for Customers doing other business.Please also note that the Orkidē The Pochentong project is not only has a shophouse but also has a single villa (Marigold) and twin villas (Sunflower), which are all modern homes for modern people. Especially, customers can choose the monthly payment option starting from 1% of the house price with no deposit and no interest and can get up to 10% discount.Please be hurry up, this rare offer has a limited time! Please visit our Sale Gallery of Orkidē The Pochentong Project, which is located along 105K Road near Wat Tangkasang (on the railway line in front of Pochentong Airport), Sangkat Phnom Penh Thmey, Khan Sen Sok, Phnom Penh, or contact by phone: 098 733 333.

ARE YOU READY? The Online Flash Sale is fast approaching which means you can purchase your dream home or next investment at a much better deal!How to get your discount:Register for the Online Flash Sale now!Visit the event website on June 3 to 6Select the discounted propertySecure your discount with a refundable $200 reservation feeThe fully refundable $200 reservation fee is also deductible from the final sale price.Don't miss this chance to get a discount on your dream home next week - only during the Online Flash Sale!Participating developments in the Online Flash SaleStardream Lake Tourism TownDiscount: To be revealed on June 3 to 6Location: Botum Sakor, Koh KongDeveloper: Coastal City Development Group Co. Ltd.,The development of Stardream Lake Tourism Town covers an area of 248 hectares of land which is planned to include an ecological park and two lakes in the future. The project will be built after the completion of its green spaces, natural ecology, and pristine beaches to lay the foundations of an entrepreneurial community and leisure tourism.Angkor Grace Residence & Wellness ResortDiscount: To be revealed on June 3 to 6Location: Svay Dankum, Siem ReapDeveloper: Angkor Hearta Development., Co Ltd,Despite only being a few minutes away from the busy center of Siem Reap, Angkor Grace Residence & Wellness Resort still affords residents the luxury of verdant landscapes rarely found in modern large-scale properties. The entire project measures 22,670 sqm largely composed of pristine greenery, the influence of which is seen in the residential units.Vue AstonDiscount: To be revealed on June 3 to 6Location: Nirouth, Chbar AmpovDeveloper: The Peninsula Capital Co., LtdVue Aston is a newly launched condominium development in 2020. The development is located along the riverside in Norea Island which is a new residential development area. The development of a new bridge is scheduled to take place in the area and will serve as new access to Downtown Phnom Penh. This accessibility of this development is expected to attract greater traffic flow and land-rise which will drive the area to be the next potential development zone.Le Condé BKK1Discount: To be revealed on June 3 to 6Location: St. 352, BKK 1Developer: Wang Fu Guo Ji Property Development Co., LtdThe development is located in a prime location which provides significant advantages as a residential, commercial, and business hub with multinational enterprises, schools, international organizations, and luxurious restaurants. And with the inspiration of the scenic rural fields of Southeast Asia and the greatest Cambodian architectural pioneer, Van Molyvann, LE CONDÉ BKK1 is designed to be the mild luxury and life of wisdom and a balance between pursuit and humility.The Peninsula Private ResidencesDiscount: To be revealed on June 3 to 6Location: Chroy ChangvarDeveloper: CC Peninsula Co., Ltd.The Peninsula Private Residences is the finest residential development and home investment asset in Cambodia. The new development offers high investment opportunities, privacy, security, comfort, and a luxury lifestyle. This 25-storey condominium is situated in Chroy Changva District, a new residential development zone to the East of downtown Phnom Penh crossing the Mekong River.Ratana Plaza Top ApartmentDiscount: To be revealed on June 3 to 6Location: Tuek Thla, Sen SokDeveloper: Real Livest Ones (Cambodia) Co., LtdRatana Plaza Top Apartment is located in Ratana Plaza, a popular place where gather in Phnom Penh, close to the main road, North Bridge Road (Phnom Penh Second Ring Road). The project was developed as a high-quality small residence with offerings of unit spaces ranging from 26-45 square meters. The Ratana Plaza is a hot-rental property in Cambodia, suitable for low threshold investment, and is the best choice for any local and international investment.Morgan Park VillaDiscount: To be revealed on June 3 to 6Location: Bak Kaeng, Chroy ChangvarDeveloper: Morgan Jovan (Cambodia) Real Estate Development Co., Ltd.Morgan Park Villa is the first high-end villa community with separated footways and motorways in Phnom Penh. It adheres to the internationally recognized LOHAS green and eco-friendly living philosophy and features an incomparably rare eco-friendly garden-style environment with non-replicable investment potential. Its supreme living quality can meet the needs of elites and international investors in Phnom Penh. MORGAN PARK VILLA the new benchmark and game-changer of living in Phnom Penh!Morgan EnMaisonDiscount: To be revealed on June 3 to 6Location: Tonle Mekong, Chroy ChangvarDeveloper: Cam-Jiachuang Real Estate Co., Ltd.Morgan EnMaison, located along the Mekong River Road in Phnom Penh’s Chroy Changvar district, is set to be a riverfront landmark by the Morganford Investment (Cambodia) Co., Ltd. there will even be a private helipad on the 220-metre high rooftop. What’s more, the multi-level luxury sky club will give a unique appeal to the skyline. The development also boasts a private yacht marina.City GemDiscount: To be revealed on June 3 to 6Location: Phnom Penh Thmey, Sen SokDeveloper: Thumbs Up International Co., LtdCITY GEM is an affordable housing development project that targets local buyers. This condominium is designed and built to meet international standards and suit residents who seek a moderate living lifestyle. This is a project which is developed by Thumbs Up International Co., Ltd and Outstanding International Co., Ltd. CITY GEM Condominium is located in the Sen Sok district, Phnom Penh which is a new real estate development location comprised of residential and commercial development.R&F CityDiscount: To be revealed on June 3 to 6Location: Hun Sen Boulevard, MeancheyDeveloper: R&F GroupR&F CITY is located on the ‘Golden Central Axis’ of the city - Hun Sen Blvd in Phnom Penh. It is only 10 kilometres away from the airport. It is bordered by the embassy zone to the north and the developing ING City in the south. The project is adjacent to the Monivong Blvd, one of the few historic and bustling main roads in Phnom Penh, which brings together many specialties of the Kingdom, and it is in a lively neighbourhood surrounded by quite a few international businesses, such as a classy football club, duty-free shops, 4S automobile shops, and others. Within a 10-minute drive, you can reach the PH Mall, and Aeon 3 will offer you the latest in fashion and leisure.R&F City MIRODiscount: To be revealed on June 3 to 6Location: Hun Sen Boulevard, MeancheyDeveloper: R&F GroupR&F City MIRO is a newly launched residential development in Mean Chey District, a secondary location to the south of central Phnom Penh. The vicinity area is being developed to be a new educational, high-rise residential, and commercial zone with a new number of flagship high-rise buildings and infrastructure developments including the Samdech Hun Sen Boulevard. Preah Monivong Boulevard, one of the main commercial and embassy thoroughfare running north-south of the city is located close to the development.Borey Icon KampotDiscount: To be revealed on June 3 to 6Location: Tuek Chhou, KampotDeveloper: HL Nakara Development Co., LtdBorey ICON Kampot is a new residential project opening in the serene province of Kampot. Developed by HL Nakara Development Co., Ltd., Borey ICON Kampot endeavours to be the first residential project with a tourist-focused commercial center in the city. Both its residential and commercial components are topped with a 23.9m high Buddha monument, making it the premier contender for Kampot’s most iconic developments in the next few years.Borey NADIDiscount: To be revealed on June 3 to 6Location: Preaek Lieb, Chroy ChangvarDeveloper: GC City CambodiaBorey NADI is a new luxury community development marrying luxury modern living with natural beauty set in the up-and-coming district of Chroy Changvar. This 34-hectare residential development features a wide range of premium homes built with a unique aesthetic set within a tranquil verdant landscape surrounded by untouched greeneries complemented by amenities not found anywhere else in Phnom Penh!WorldBridge Sport VillageDiscount: To be revealed on June 3 to 6Location: Bak Kaeng, Chroy ChangvarDeveloper: WB Sport Village Co., LtdWorldBridge Sport Village is a mixed-use development in the fast-growing area of Chroy Changvar, just 20 minutes away from the Central Business District of Phnom Penh. It will be the first-ever sports village that offers you a one-of-a-kind opportunity to experience both work and play in a distinctively healthy atmosphere of an international-level sports village.Golden Tower 322Discount: To be revealed on June 3 to 6Location: St. 322, BKK 1Developer: Chhun Sambath Development Co., Ltd.Golden Tower 322 is an innovative commercial and residential complex that is located in the prime location of BKK1, the heart of Phnom Penh city. Golden Tower 322 is situated at the leading location of BKK1, where it is as prime as TST and is in connection to Monivong Boulevard, similar to Nathan Road of Hong Kong. Golden Tower 322 is a 42-storey building with extraordinary status, giving it a long-lasting value.All discounts for these exciting new developments will be revealed starting June 3 to 6. Register now!

Le Condé BKK1 pleasantly would like to introduce a new product “BKK AVENUE” that potentially will elevate your lifestyle to an unprecedented living experience. It is going to be the first freehold retail space in BKK1- the jewel location of the capital.The Grand Opening of BKK AVENUE is going to be held on 29th May 2021 from 2 pm, at Le Condé BKK1 Sales Gallery.Sitting adjacent to Phnom Penh’s metropolitan district, Le Condé BKK1 brings BKK AVENUE to the market that is aimed to be the new extravagant icon in the central of BKK1 district for integrated retail space for F&B, fashion stops lifestyle products and other most recognizable brands.BKK1 district is generally well-known as the most prime destination in Phnom Penh, consisting of NGOs, high-rise commercial building, ministries, embassies and international schools. Moreover, BKK1 is a hotspot for many world-class brands, popular retail stores, restaurants, internationally franchised F&B brands, banks and other iconic places.Standing on the ground floor of a luxury condominium, BKK AVENUE has only 16 retail spaces available, range from 51sqm to 100sqm with 5-meter ceiling height, which is very spacious that open more freedom to decorate and enlarge your space.BKK AVENUE master plan is strategically designed for high-end retail that offers an extravagant atmosphere for the leisure shopping experience of the public and especially for Le Condé BK1 residents.  Likewise, the masterplan is a flexible combined space, that offers you extra possibilities to design your space as you wish. With estimated 3,000 residents living above the ceiling of BKK AVENUE walking past your shops every day, this is an extra added value to your business that you do not have to concern about the source of customers, but a large amount of potential and high-profile targeted customers staying there with a strong tendency in purchasing products.

The construction of the $300 million third ring road was 50 percent complete as of early May and is scheduled to be finished next year, according to the Ministry of Public Works and Transport’s spokesman Heang Sotheayuth. The 52-kilometre road stretches from National Road 4 from Por Sen Chey district in the west of Phnom Penh and crosses National Roads 3 and 2 to National Road 1, in the east of the capital, connecting to the Phnom Penh autonomous port.The construction of the road is expected to finish by September next year, Sotheayuth said.The road has 47 km of cement pavement and a 5-km stretch with asphalt paving. If there are no disruptions, the construction of the road will be ready as planned, Sotheayuth said. “The construction process continues despite the threat of COVID-19 disease.Both construction companies and technical consulting firms adhere to the Ministry of Health’s guidelines for combating COVID-19 disease,” he said.The road will contribute economically to the transportation and logistics sector, joining National Roads Number 6, 5, 4, 3, 2, and 1, to create a huge connection of roads.It will connect ASEAN highways and major economic corridors of the Greater Mekong sub-region, contributing to the facilitation of cross-border transport and promoting international trade and logistics.It will turn the land on either side of the ring road into potential housing, logistics, and industrial development areas.Link to the original article by Chea Vanyuth from Khmer Times:https://www.khmertimeskh.com/50857557/third-ring-road-50-percent-complete/

We’ve all heard about it and we’re all waiting for it: The Online Flash Sale recently unveiled the first few developers offering discounts to buyers like you!The question now is, how do you join and get the discounts during the event itself on June 3 to 6?How to register for the Online Flash SaleSTEP 1: Visit the registration page of the Online Flash Sale. It should appear something like this:  STEP 2: Fill out the necessary fields marked with an asterisk*STEP 3: Once you entered your phone number, click on “Send me SMS code”STEP 4: Enter the SMS CodeNOTE: If you are unable to receive an SMS code, kindly contact our live chat and our staff will gladly assist you in registering.  STEP 5: Set your budget and click on the boxes that apply to youSTEP 6: Click Register!What happens after I register?You can stay tuned for the weekly updates on properties onboard the Online Flash Sale. The event site is being updated regularly since the launch last May 6 and you can learn more about the new developments and resale properties soon to be revealed from June 3 to 6.How to get a discount during the Online Flash Sale:Securing a discount is easy! Simply visit either the “Projects” or “Resale Properties” Tab to view New Developments and Resale Properties offering you a discount!  From here, you can browse properties offering exclusive discounts! Click on the property you’ve selected and if it’s to your liking, be sure to click the “I’m Interested” button found on the right-hand side of the screen.  You have to be quick! There are only a limited number of discounts available from each developer, so be sure to click on that button and make your reservation with a fully refundable $200 reservation fee.* (Visa, Mastercard, ABA Pay, and Union Pay accepted)*Terms and conditions apply for the refundable $200 reservation fee. Two main things you have to remember: The fee can be refunded within 14 calendar days. It’s also worth noting that the reservation fee is deductible from the final price of your new property once you formally buy it!Got any more questions about the Online Flash Sale? You can visit the Online Flash Sale FAQ here.Or are you, like most people, excited to get a big discount on your new home? Register now!

The Legacy Villa is Borey Williams' best-selling floorplan out of all our home styles. Each Legacy Villa comes standard with a huge grassed-in plot of land measuring 300 square meters (15x20m). The home size measures 10m x 10.5m and is 2 floors. This large single-family villa has four bedrooms, five bathrooms, a living room, kitchen, and extra laundry room. The exterior design of the home incorporates an ultra-modern styling, with natural dry-stone wall cladding, natural wood paneling, and a two-tone modern paint scheme that is tastefully pleasing to the eye.As soon as you walk into the Legacy Villa you see a white granite spiral staircase next to a 6-meter-tall picture window, and a crystal chandelier making the interior sparkle. The Legacy’s interior is an American-style open floor plan with floor-to-ceiling windows, matte finish tiles, a kitchen island, and lots of cabinetry for storage. The kitchen connects to your living room which is great for entertaining guests and enjoying family time.This floor plan has many special features including natural custom-made wood doors, granite countertops in the kitchen and bathrooms, a large 14 square meter balcony connected to the master bedroom, and also double sinks in the oversized master bathroom. This home is customizable as many customers expand the floorplan further to add extra rooms such as an extra bedroom, a home office, walk-in closets, or a game room for kids.The Legacy Villa starts at only $155,500 per home and a low monthly installment of $718/month.