The Second Cambodia’s Engineering Business Matching was held on December 20 at Cambodiana Hotel in Phnom Penh and was joined by participants from different sectors, including construction, real estate, telecommunication and more.The event aimed to bring together representatives from manufacturing and consuming sides, mostly in the construction sector in one room to help boost better cooperation.As a result, the event has seen some themed dialogues, special events, procurement releases, product testing, cooperation signings and gathering dinnerFor instance, the Cambodian Singmeng Telemedia Co., Ltd, the only one-stop ICT overall solution operator in Cambodia and Discovery New City Co., Ltd, signed an MoU on “Smart Community Strategic Cooperation Agreement.”The agreement will allow the two parties to work together to turn DNC Mall and DNC community into intelligent and high-end businesses.Under this agreement, the two signatories hope to provide customers with a more intelligent and comfortable experience and help establish the image and reputation of Discovery New City Co., Ltd as an industry leader and innovator.Singmeng Telemedia is a Singapore-based company. It offers one-stop overall information solutions for the entire Southeast Asian market.Established in 2012 with a total registered capital of U.S. $100 million, it has swiftly become a leader in the telecommunications industry.In Cambodia, Singmeng Telemedia has buried optical cables covering the whole of Cambodia, and is the first operator in Cambodia to launch the “three-in-one” technology and “one-stop ICT overall solution.”Singmeng Telemedia is currently offering services to some 40 large-scale real estate projects, including The BRIDGE, One Park, Prince Edward, Central Plaza, Olympia City, and AXIS RESIDENCE. It has also secured to service 12 high-end development projects which are still under construction.For more information, please visit the company’s website! Or contact: 096 666 1888 / 089 966 888 / 023 860 666 (Khmer, English and Chinese)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 on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more!

Over 400 attendees mostly real estate professionals and experts descended on the red carpet looking glamorous last week at the Sofitel Phnom Penh Phokeethra as they were heading to the grand ballroom where the biggest event of the year for the real estate industry, Cambodia Real Estate Awards 2019, was held.CREA 2019 is the second year of awarding ceremony for the Cambodia real estate community proudly organised by Realestate.com.kh in collaboration with the Ministry of Economy (MEF) and the Cambodian Valuers and Estate Agents Association (CVEA).With the main objective to help professionalise the local real estate industry by recognising the leading agents and agencies throughout the country, the judges of CREA 2019 in combination of public votes, have found 26 winner agents and agencies and recognised as leaders in their fields.Winners were awarded with prestigious CREA seals, gold plaques and most importantly is the iconic trophy whose design was inspired by the late renowned Cambodian architect Vann Molyvan’s architectures, to confirm their individual and company achievement and contribution in raising the standard practice in the country's real estate sector.The iconic trophy presented during the CREA 2019 was inspired by three most significant buildings and monuments for Cambodia and its people, designed by Vann Molyvann, two of which are the Chaktomuk Conference Hall that has the V-shape truss and Independence monument where you can see in the bottom part of the trophy and the library at the Institute of Foreign Languages that has the geometric pillar in which the body of the trophy was inspired by.According to Thomas O’Sullivan, CEO of Realestate.com, the team at the Realestate.com.kh, representatives from MEF and CVEA spent time together to brainstorm in order to come up with a trophy design that symbolises both Cambodia and the real estate industry.“So it was pretty quick, we were pretty fast to identify that we should draw inspiration from these monuments in Cambodia to design the trophy,” He said.“Vann Molyvann is known as the father of modern Khmer architecture. He really has been key to defining how Cambodia and Phnom Penh look now. We are so proud to incorporate the great legacies he left behind to Cambodia and its people. I hope all the Cambodian people have the same pride as I do seeing this iconic trophy,” he added.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 on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more! Article by:

(An aerial view of an area in Kandal province. Realestate.com.kh)Life in Sihanoukville was good for Nguon Sitha, a long-time resident in Cambodia’s southern coastal town. He would begin his day at a posh coffee shop sipping his favorite brew, meet with friends, then start working by networking with landlords and property brokers.Sitha made quite a good living renting a house in Sihanoukville to Chinese tenants and bridging Chinese house-seekers with landlords. Sihanoukville has, for the past few years, seen an exponential rise in Chinese nationals renting all available spaces in the city. Both residents and property developers were quick to meet the demand for more spaces, leading to the rapid development of condos and office spaces.But things came to an abrupt end, when in August, the Cambodian government decreed that the government will no longer renew online gaming licenses to combat underground syndicates and money laundering. The mass exodus of Chinese workers in Sihanoukville almost happened overnight, and with them, Sitha’s primary source of income.”I’m very worried about how I’ll make ends meet,” he said. Rent prices in his area started going down, and commission fees, which added to his monthly income, started to dry up. “You could almost literally hear the city boom with how busy it was here” he said, “But now, it’s beginning to get very quiet”.Sitha is among the hundreds in Preah Sihanouk province who saw their livelihoods disappear with the decline in rental & property prices, and early termination of leases after droves of Chinese people left. The decline of property prices, however, did not seem to spill over into other provinces.Saing Veychenda, Manager of Valuation Services of Knight Frank (Cambodia) Pte., Ltd, said that Preah Sihanouk is seeing a decline in property transactions with a slump starting to take hold.Land prices were quoted at about US$ 4,000 per square metre before September of 2019. The prices for the same plot of land are now half at US$ 2,500 per sqm.He estimates that about 100,000 Chinese nationals have left in the two months since the announcement. As a result, demand for hotels, guesthouses, apartments, and other properties, have dropped.(A view in Kandal province where a new Phnom Penh International Airport is sitting on. Realestate.com.kh)”Property prices in other provinces are growing steadily despite the slowdown in Sihanoukville.” he said. “Koh Kong and Kampot, in particular, did not see the same amount of [Chinese] investment compared with Sihanoukville, so, the impact is smaller”.There have been more than 200 real estate projects in Preah Sihanouk with a majority of these projects funded by Chinese investors.Leang Long CEO of Eyes Real Estate Co., Ltd, adds that while Poipet and Bavet considered online gambling hubs, they’re not a real attraction to a majority of investors. Chinese mostly prefer living near the mountains or by the seaside, making Sihanoukville a natural choice for Chinese investors.Mr. Long is confident that the decision to ban online casinos will give focus to more critical infrastructure. “While gaming companies begin to close,” Long said “other businesses - like hospitals, schools, factories, and farms - are still operating.””There’s no denying that the shut down would impact the properties and real estate market in the province. But its effects would not result in a crisis.” he said.Mr. Long added that Chinese investment in online gaming through real estate overshadowed other [Chinese] investments in healthcare, manufacturing, logistics, and most importantly, tourism - sectors that are still growing at a steady rate.”At its height, rental fees ranged from $200 to $500 per sqm which didn’t reflect the real market value of only $20 to $30 per sqm” he said. Some investors willingly offered these inflated prices as they only wanted short-term gains from reselling, and money laundering.  ”The government is focusing on restoring the image of Sihanoukville as they change the provincial structure and assign more development experts to the province,” Mr Long said. “They’re managing the city towards a more sustainable path. Banks are now lending money for new business projects in Sihanoukville,”Sy Ratana, General Manager of Syvun Realty Co., Ltd, agrees that the government’s decision to crack down on online gaming will have long-term benefits. He says the impact was mainly felt by investors and local residents who took out loans to invest in buildings meant for online casino operations.”The current issue Sihanoukville faces is the lack of demand in rental spaces and the absence of prospective lessors for unfinished buildings.” he adds, “It’s not a long-term problem, and we expect reputable and long-term investors to soon see Sihanoukville as a viable destination”Roads, along with other vital infrastructure in Preah Sihanouk, are currently undergoing rehabilitation since the ban was enforced.”Those who understand the market, and are flexible enough, will still profit in Sihanoukville. But those who weren’t able to spread their assets will definitely see losses” he continues, “It’s a good sign that the government is thinking about the long-term sustainability of the province by pushing for its development.””We’re seeing other investors, such as the Japanese, who are expressing interest in Sihanoukville.” Sy Ratana said, “We will have a diverse set of investors soon, and hopefully less of those only interested in making a quick profit,” he added.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 on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more!Article by:

The second construction engineering exposition hosted by Cambodian Engineering Home Purchasing Alliance is set for December 20 at Hotel CambodianaAll the members of Engineering Procurement Union of Cambodia ( EPUC ) have been invited to the show, including companies offer services such as preliminary design, procurement, cost control, construction, material supplies and more.The organiser aims to use this event as a gathering of stakeholders and individuals within the engineering industry including developers and construction material suppliers where they can share useful information opportunities between each other. It is a shortcut that connects and serves the two parties in this business sector.What are the benefits for attendees?1. Interview and chat away for fast dealsThe real estate industry is more about integrating resources and materials than other industries, which involves planning, design, construction, landscape, decoration, and property management. Hence, procurement activities run through the entire business process. Therefore, the organiser of the exposition will invite developers’ chief procurement, designers, and representatives of manufacturers & suppliers to sit down in the same room to optimize the business opportunities.2. Large number of development projects across CambodiaThis exposition will include a great list of projects under construction across Cambodia, and will present and highlight some details of demand by large projects to the attended manufacturers and suppliers .3. The most prestigious construction materials exposition in CambodiaWith great success in the first B&R Engineering Business Matching, Cambodian Engineering Home Purchasing Alliance, the organiser, will undoubtedly create another excellent opportunity of marketing and branding for suppliers. The host will even allocate a conspicuous area for a showcase of limited top-tire products on the show.What has achieved on the last show?The previous show has displayed comprehensive products on the industrial chain, from kitchenware, fire prevention gears to aluminum doors and windows and so on. On top of that, many of the dignitaries and entrepreneurs, 20 developers, 50 manufacturers were there under the same roof to witness one of the biggest shows of a kind , from which a database including 74% of the suppliers to the show has become the first reference for developers’ future procurement and bidding.The new show is expected to be as exciting as ever, which is honorably supported by many leading companies, including Diguan Real Estate Development Co., Jiujie Home Technology Co., Ltd., Realestate.com.kh, Tnaot, 58cam.com, SingMeng Telemedia, Gold Zone Media and Wangni Enterprise Group.Who will be there?This year exhibitors include Hongding Commercial Real Estate Co., Ltd., Peng Huoth Group, Piphup Thmey Group, LYP Group, OCIC, Chip Mong Group, R&F Cambodia, Prince Real Estate Group, Chang Yuan Group, Shenzhen Yiju Real Estate, JinLu Group, Agile Group Hold, LingNan Properties, Golden Time Real Estate Co., Ltd., Prestige Home Cambodia, Jin Lin International, MLN Global, AMARA Boutique Apartment, Yuetai Group, MY Investment Group, Zhong Ding Group, SWOT Overseas, La Vista One, Baoli Mansion, Toul Kork Lane, YXZ Co., Ltd., 7 residences and KY development etc.Invitations have been sent. Please feel free to register online for free entrance.For more details about the exhibitors and sponsorship, please refer to the contact details below.Organiser website here!WeChat ID: DND-EPUCE-mail: epuc2019@outlook.comMiss. Li +855 71- 451-8888 (Chinese / English / Cambodia)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 on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more!

A design by Heerim, a South Korean architecture & design firm, for the new Phnom Penh International Airport in Kandal province - set to open in 2023/2025. Photo courtesy of Heerim.The new Phnom Penh International Airport is expected to be completed in 2023“We are now laying the foundations and building the runway. If there are no issues with the land, I believe that the airport will be ready by 2023.” Oknha Pung Kheav Se, Chairman of Overseas Cambodia Investment Corporation (OCIC), shared with the Khmer Times during the Construction Industry Expo in Koh Pich last December 5, 2019.The new international airport’s construction started last September 2019. An overseeing committee was established called The New Phnom Penh International Airport Assembly Sites Committee specifically to facilitate the construction of the US$ 1.5 billion infrastructure project.The OCIC, the company behind the project, is now building the foundations of the new airport, conducting environmental impact assessments, and negotiating with people affected by construction; specifically those owning land, and those currently in the process of purchasing land in the affected areas, according to a report by the Khmer Times.With about 2,600 hectares of land planned for the airport, and its supporting residential & commercial areas, the committee has foreseen that the initial difficulty will be negotiating the buy-out for the required plots of land. The committee, through the help of relevant government ministries, has been issuing prakas to halt land purchases in the area.Sin Chansereyvutha, the spokesman of the State Secretariat of Civil Aviation, said the airport will not likely be finished soon, according to the Khmer Times. He also said that while the airport is on schedule, their timetable suggests that the required foundations and land-dispute negotiations will likely push completion back to 2024 or even 2025.Foundations of the new Phnom Penh international airport under construction in Kandal province 2019. Photo courtesy of the State Secretariat of Civil Aviation.Nevertheless, the new international airport in Kandal province will serve to sustain Cambodia’s growing tourism sector, which is expected to accommodate 15 million tourist arrivals by 2030.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!Article by:

(An aerial view of the villas featuring a river in Forest Harmony Luxury Villa in Kampot province. Supplied)Property developers in Cambodia are now expanding their business into constructing holiday homes, primarily due to increasing demand for second or third homes from high-income Cambodians.According to Duy Panhareth, a Business Development Manager for Century 21, while there are many eco-focused hotels and resorts in Cambodia, many upper-class Cambodians are starting to prefer owning a holiday home rather than renting from a hotel or resort - and they’re very much willing to pay for it.”Kampot shows a lot of potential,'' said Panhareth as his company recently represented a luxury villa in the area. “There are a lot of resorts but they’re mostly for holiday rentals. Our goal now is to give Cambodians the option to purchase holiday villas,” he added.Adding that the price for one villa is around $170,000 and is geared towards the middle and high-class markets. “We found that this demographic goes overseas for the holidays since there is no place nor resort for them to get away and relax. Kampot is soon becoming a good alternative for a holiday getaway,” Mr. Panhareth said.A popular location for these holiday villas is near the mountain valley surrounded by the forest. Villas located in these locations offer stunning panoramic views of the gorgeous green landscape, making it the perfect retreat for nature lovers and even those simply looking to get away from the busy city.Each of the country’s 25 provinces offers something unique that developers are eager to highlight. Siem Reap is currently ahead in terms of eco-resorts as the Angkor Wat complex is already a top tourist draw. Eco-resort projects have also started in Kampot, Kep, Koh Kong, Ratanakkiri, Mondulkiri, Kampong Speu, and Preah Sihanouk provinces.Close behind Siem Reap is Sihanoukville; the presence of an international airport in the city makes it easy for Cambodians and foreign tourists alike to treat themselves to a weekend getaway in major seaside resort developments such as Prince Tian Xi Wan and enjoy Sihanoukville’s famed beaches.Soy Sinal, director for the tourism department in Kampot province, said the concept of developing a holiday villa and selling it to individual buyers is a growing trend that should soon be followed by other developers. He notes that there are many investors who expressed interest in similar projects in the province.”Kampot’s potential as a vacation getaway for Cambodians and foreign tourists alike stems from its geography as a coastal province,” he continued “The province has a lot of natural features, such as the fresh sea breeze, green forests, and the Bokor Mountain. We are absolutely in favor of Cambodians purchasing second homes in Kampot, and we will support developers who will pursue such projects here.” the tourism director concluded.(A snapshot of a lake within Forest Harmony Luxury Villa property in Kampot province. Supplied)Chrek Soknim, president of the Cambodian Valuers and Estate Agents Association, agreed that the concept of a second home and leisure development is a new trend that’s gaining momentum in Cambodia, but emphasised it’s still in its early stages.”The living standards of Cambodians are getting better. After they have their own home, they will start considering properties specifically for their retirement, leisure and relaxation,” he said.Kampot, Sihanoukville, Koh Kong, and Kep are the new target locations for developers looking to get a piece of the holiday home market. In the future, this type of property will gain more demand among Cambodians, he added.According to Soknim, developers who are looking to invest in holiday and leisure home properties generally focus on villas located in the coastal areas, hills, and mountainsides. Villas in these areas usually cost anywhere between $150,000 to $250,000 each.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019.Find out more about our Cambodia Real Estate Awards 2019 here.Article by:

Oxley Gem, the developer of a mixed-use development project, The Peak, revealed China Railway Urban Construction Group (CRUCG) as a new main contractor to take over the existing construction work for The Peak project in a press release issued on Sunday.The news came after the company announced the termination of the Sino Great Wall, the previous main contractor in October.The Peak is located at Sam Dach Hun Sen Road, Tonle Bassac Commune, Chamkarmon District, Phnom Penh City. Learn more about this project here!CRUCG is a wholly-owned subsidiary of China Railway Construction Corporation Limited (CRCC); a super large state-owned construction enterprise listed in Shanghai and Hong Kong in 2008 (A-share code 601186, H-share code 1186).In 2018, it was ranked in 58th place among the Fortune 500 and the top three of the world's largest 250 engineering companies for 11 consecutive years. CRUCG specializes in housing construction projects and has rich experience in general contracting of super high-rise buildings and super large urban complex construction. Learn more about CRUCG here!“Currently, Oxley Gem is working closely with the previous main contractor Sino Great Wall International Engineering Co., Ltd (SINO) on the final phase of the handover process in order for CRUCG to take over smoothly by next Friday 6 December 2019. Construction works shall resume as per normal thereafter” the press release reads.“On behalf of the Company and all stakeholders involved in The Peak, we wish to assure that the projected completion date of The Peak will not in any way be affected by this termination of SINO and replacement of the main contractor,” it adds.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Tickets and sponsorship for Cambodia Real Estate Awards 2019 are available. Learn more about it here!

Realestate.com.kh recently announced that it generated over 100 leads for property sales, and rentals, valued at over $14 million, within one month from the release of its new “Home Finder” feature on its website and app.With the Home Finder tool, Realestate.com.kh hopes to create a stress-free property search experience for its customers and users by allowing them to key in specific requirements and instantly alerting agents and developers about these needs.Since the launch of the new feature, the number of property seekers using the tool is increasing on average of 75% per day, creating millions in dollars of opportunities for Realestate.com.kh agents within the platform.$14M+ in Opportunities created with Home FinderAs of 20 November 2019, thirty days since launch, Home Finder has generated a total of 129 leads valued at $14,590,879 in potential property revenue for real estate agents in Cambodia, with each lead averaging at $113,108 value.Total buy opportunitiesThere were 54 sales leads in total, worth approximately $14,520,299 in revenue. With a 3% standard commission fee, the total commission opportunity of $435,609. The average property purchase price was $268,894 and with a 3% commission rate, each lead is worth an average of $8,067 to the agent that is ultimately closing the deal.Total rental opportunitiesThere were 58 rental leads in total during the 30 days, worth approximately $70,580 in total monthly rental value. With the average commission rate of three quarters of a month's rent or 75%, the 58 leads generated around $52,935 in commissions for Realestate.com.kh's clients. On average, each rental lead is valued at $1,217, with an average commission rate of $913.Total sell opportunitiesThere were 17 leads for property for sale, worth approximately $2,096,000. With a 3% commission rate, the total opportunity in commission for agents was $62,880. Each lead is valued at an average of $123,294 and with a 3% rate, the average commission per lead amounts to $3,699.Alex Sing, Agent Subscriptions and Software Manager for Realestate.com.kh said this new feature helps raise the level of transparency on the website and is providing more value to our agent clients, and ultimately making the home finding process in Cambodia easy and effortless for property seekers.“The new Home Finder feature on Realestate.com.kh is another step towards transparency for agent clients and our end-consumers, the property seekers. The launch of this feature represents our continued commitment to listening to agents on what matters to them and taking action to better serve them. But ultimately this feature is for the end-users, providing them a satisfactory, more streamlined user experience,” he said.What is the Home Finder feature?Home Finder is a new Realestate.com.kh feature located on the bottom right-hand corner on a desktop browser or below the search bar on the app.It allows property seekers to simply submit their buying or renting needs and the platform automatically alerts agents and developers about the “opportunity” which is sent directly to the agents' app, just like a WhatsApp message.It works the same way for property owners, making it easy for them to connect to agents that can help them find buyers.Home Finder takes the hassle away from property seekers or sellers when looking for the most trusted agents who can fulfill the specific needs highlighted in the form. Once a form is filled up it becomes a lead or opportunity and all the agents who have accounts with Realestate.com.kh will be alerted. The property seekers or sellers then will be referred to the leading agents in the industry.However, to ensure that the platform remains user-friendly, it allows only the first five agents to take the opportunity or lead. It will disappear once five agents respond to it. It keeps users from not having to deal with many agents contacting them later trying to sell their services.Learn more about Home Finder here!If you are a real estate agent in Cambodia and want to know how you can gain access to these leads and opportunities contact:Keo Sokma (Khmer & English)sokma.keo@realestate.com.kh+855 12 825875 | +855 16 969979 Sun Bunrattanak (Khmer & Chinese)rattanak.sun@realestate.com.kh+855 17 884161Download the app now on iOS or AndroidIf you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Learn more about Cambodia Real Estate Award 2019 here!Article by:

Cambodia is one of Southeast Asia’s fastest-growing countries with a robust Growth Domestic Product (GDP) growth of 7.5% recorded by the World Bank in 2018 and according to the Asian Development Bank, forecasted to be at a rate of 7% in 2019.The increase in the country’s GDP has resulted in a change in the Cambodians’ lifestyle. Cambodians are now gradually looking to reside in condominiums or high-rise apartments. In addition, the fast-growing economy also attracts an abundance of foreign investors and young professionals to invest and work in the country.Thereinafter, the sudden influx of investors has encouraged the swift development of many residential projects in prominent cities such as Phnom Penh to satisfy the ever-growing demand. Specifically, foreign direct investment is undeniably one of the most fundamental contributors to Cambodia’s rapidly-growing economy over recent years. That being said, fostering foreign investment in the country has always been one of the government’s utmost priorities. As a result, the Cambodian government has made the country’s investment schemes to be as favorable as possible.In Cambodia, foreigners are allowed to buy any properties except for the landed ones. Hence, a foreigner would be able to buy units in a condominium or apartment for their own residence or investment without much restriction. Naturally, this results in an intense competition between developers in the market to offer the most flexible payment plans, which includes the option for their clients to apply for loans from their respective collaborating banks.Winner of the Property Guru Asia Property Awards 2019 for Best Condo Architectural Design and Best Condo Interior-Design, The Peninsula Private Residences is in a class of its own. Located just 150 meters from the iconic Cambodia-Japan Friendship Bridge, commuting to the city’s CBD by car from the Peninsula takes only 5 minutes.During a quick interview with the Managing Director of CC Peninsula Co., Ltd, the managing company of the Peninsula, Mr. Kam Chin Seng emphasised that in order to sustain the business and persist in the market, in addition to offering high-quality products, his company also focuses on providing various flexible payment plans for their clients and assisting them to acquire home loans from their collaborating financial providers.“Developers have to provide proper products that perfectly match the sales and leasing market. Clients have more choices now and know what to watch out for when picking their favorite investment. Only the experienced developers with both foreign exposure and local culture knowledge would survive in the last battle,” he said.When asked about the distinctive feature of the Chroy Changvar district of which the Peninsula is located in, Mr. Kam Chin Seng explained that Chroy Changvar has a natural feature that no other district in Phnom Penh possess, a 360 degree view surrounded by the rivers and close proximity to the bustling CBD, allowing it to be the most family-oriented district with an unrivalled air quality and panoramic view.“There are a lot of other new retails, malls, education entities and universities, government institutions, and various international theme parks further solidifying its status. Not to mention, the biggest exhibition hall in Cambodia and 60,000 pax national stadium to be completed next year will be in the Chroy Changvar Peninsula region.”With over 50% of units sold at the Peninsula, Mr. Kam Chin Seng attributes the project’s success to its company’s solid work philosophy and effective teamwork in placing their clients as their top priority. The company believes in sheer hard work and doing things in the most fundamental and yet most efficient way, which is to ask themselves how they can serve their clients better and how to further improve the Peninsula in terms of product delivery and its associated management services.“When we see the locals and expatriates who have stayed in Phnom Penh for many years become our clients and move here after its completion, we know we are on the right path and this motivates us to work harder,” he added.In this regard, the Peninsula Private Residences offers attractive flexible payment plans. Rising 25 storeys over the serene district of Chroy Changvar, and encompassing 161 residential units from studio to 3-bedroom consisting of gross sizes ranging from 56.16 to 237.27 square meters, the Peninsula is now offering a huge promotion for potential or walk-in clients to its sales gallery. Better yet, heavy discounts are being offered for a few exclusive units of this award-winning project.For those looking to own an affordable boutique living or an investment with solid returns with flexible payment plans, come to the sales gallery and learn about The Peninsula Private Residences today.You can contact The Peninsula Private Residences at 017 222 760 to schedule an appointment or find them on Facebook, The Peninsula Private Residences Facebook page.Learn more about The Peninsula Private Residences, please click here. Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Tickets and sponsorship for Cambodia Real Estate Awards 2019 are available. Learn more about it here.

(The 2nd Cambodian Tourism Investment Forum from November 21-22 aims to discuss the progress and opportunities in Cambodia's growing tourism sector)Speaking at the opening of the 2nd Cambodia Tourism Investment Forum, Cambodian Tourism Minister Thong Khon said the government has approved a 94% increase in tourism investment within the first eight months of 2019 compared to the same period in 2018.The 2nd Cambodia Tourism Investment Forum, under the theme “Setting The Stage For Growth” is an event organised by the Ministry of Tourism in cooperation with the Cambodia Tourism Federation aimed to discuss the progress and opportunities in Cambodia’s growing tourism sector.At the forum, the Tourism Minister said according to data from the Council for the Development of Cambodia (CDC) from 2016 to 2019, a total of 813 projects from both local and foreign investments have been approved totaling an approximate $22.5 billion. This includes 38 tourism-specific projects which total an approximate $9 billion, a 47% increase from last year’s figures.In the first eight months of this year, the government has approved 222 investment projects amounting to $6 billion - of which 14 are investment projects in the tourism sector. Total investments in the tourism sector amounted to $4.2 billion; a 94% increase over the same period in 2018, according to the minister.(Photo courtesy of the Cambodia Tourism Federation - 2nd Cambodia Tourism Investment Forum)According to Khmer Times’s reports, experts at the Asian Development Bank (ADB) said that Cambodia’s robust economic and tourism growth present opportunities for both local and foreign investors in the Kingdom’s hotel sector.Despite more hotels being built in the Kingdom, the Tourism Ministry emphasized in an earlier statement that Cambodia needs 100,000 more hotel rooms if the current trend of visitors in the country continues in the next decade, the Khmer Times reports.“With rapid economic and tourism growth, investing in hotels and the broader hospitality industry does appear to be financially attractive in Cambodia at present,” Jayant Menon, lead economist at the ADB, told Khmer Times.Some 3.3 million tourists have arrived in Cambodia in the first half of 2019, according to data from the Ministry of Commerce. About a third of these tourists came from China while the rest is composed of tourists from Vietnam, Thailand, Laos, South Korea, Japan, Singapore, Malaysia, the United States, and Europe.”At the present, tourism contributes about 12.7% of the gross domestic product (GDP),” said Tourism Minister Thong Khon, adding that with promoting economic growth through cultural and natural tourism is the way to go for Cambodia. The government considers the tourism sector as the “Green Gold” of Cambodia - actively contributing to socio-economic development by creating more employment opportunities, improving livelihoods and serves as an effective poverty reduction strategy.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Find out more about our Cambodia Real Estate Awards 2019 here.Article By:

(Road maintenance of National Road 3 in 2017 by Ministry of Public Works and Transport. Supplied)When An Chanthla heard rumors in late 2017 that the government is planning on expanding National Road 3, a 202km-long major highway connecting the south of Cambodia to Phnom Penh - he saw an opportunity he simply couldn’t pass on.With little capital, and even less experience in real estate investments, Chanthla decided to take a chance and pooled his capital in a joint-venture with his friends. They managed to put together $14,000 to buy a 2,500 sqm plot of land around National Road 3 in Prey Toteung Village.The land they bought was surrounded by rice fields and was only accessible through a narrow dirt road. As the sale price was a mere $5.6 per sqm, Chanthla hoped that the land would double in value in 2 or 3 years.But fortune came sooner than he had anticipated. A few months after the purchase, the government officially announced plans to renovate and expand National Road 3. Land prices around the major road skyrocketed overnight, including Chanthla’s 2,500 sqm plot of land.”We sold the land back at $13 per square metre. The resale gave us a profit of nearly $20,000 just a few months after making our first purchase,” he said. After seeing the success of their first venture, he and his partners agreed to reinvest the money to buy a $50,000 plot of land measuring up to half a hectare; hoping for another flip on the market.”We buy up larger land when we see a potential for it. At present, our group owns nearly 5 hectares worth of land valued at $25 per square metre totalling up to $1 million.” Chanthla continued.The story of Chanthla’s business venture reflects how developments on major road arteries for the past 3 years increase the value of land property, and consequently, benefit the people who live around it.According to Po Eav Kong, managing director of Asia Real Estate Cambodia Company, property value along National Road 3 has jumped significantly in the past few years. Due to the upgrading of National Road 3, there are more residential and commercial developments around it.While National Road 3 stretches all the way down the coast, land property can be valued and purchased à la carte. For example, the land from Chaom Chao to Kampong Toul Bridge (the border between Phnom Penh and Kandal province) is valued at $200 to $400 per sqm since it’s suitable for residential projects, he added.On the other hand, property from Kampong Toul Bridge to Ang Tasom (land considered to be suitable for industrial development) is valued anywhere between $20 to $80 per sqm. While land from Ang Tasom to the Kampot Train Station is valued at $10 to $20 per sqm, Kong explained.”Infrastructure developments are pushing land prices to increase. And for the past two years or so, the price of land along National Road 3 has risen by 10 percent year-on-year.” Kong said.As the National Road 3 connects Phnom Penh to the south’s tourist hotspots like Kampot and Kep, the reconstruction of the major highway has led to factory and warehouse developments, with multiple landed housing commonly known as “borey” projects starting alongside it.”Kampot has strong potential to be the next industrial zone, so land prices are likely to increase over time.” he concluded.Sorn Seap, founder and director of Key Real Estate, said that the National Road 3 that connects Ring Road 3 has every bit of potential to be an industrial and logistics hub for the region.”The National Road 3 is expected to replace National Road 4 as the primary route for transportation of goods to and from the deep seaports. And when the rehabilitation is finished, we expect more factories and warehouses to set up next to it,” he said.“Development of Ring Road 3, which is connected to the National Road 3, is also expected since the city government (Phnom Penh) mandated that factories must settle outside the city,” he added. ”Normally, the price of land meant for factory developments in Cambodia is cheaper than land for residential projects. However, when there are enterprises such as factories, residential projects will follow to support industrial projects. And setting aside the National Road 4, the National Road 3 has a lot of factories compared to other areas” Sorn Seap said.National Road 3 is one of the major national highways in Cambodia. With a total length of 202 kilometres, it connects Phnom Penh to the southern town of Veal Renh where the National Road 3 and 4 meets. A 20km portion of National Road 3 is being rehabilitated to host two big events, namely: Kampot’s Sea Festival, the three-day event organised by the Cambodian government to promote the country’s tourism attractions will happen on December 27 to 29, 2019, and the “1st World Cycling Tour of Cambodia Bay”, an international cycling tournament hosted by Cambodia, where cyclists from around the world will race on Cambodia’s coastal roads on January 2020.For ordinary folk like An Chanthla, who saw his fortune multiply in a matter of months, every bit of development along Cambodia’s major roads serves as a boon for people like him.”We can sleep better at night, worrying a lot less about our jobs,” he paused and said, “We see a bright future ahead because our land is giving us hope.”If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Find out more about our Cambodia Real Estate Awards 2019 here.Article by:

(Cambodian Prime Minister Hun Sen cut a red ribbon at the inauguration ceremony last week. Facebook page)  The Cambodian Prime Minister Hun Sen inaugurated a newly built cement factory in Kampot province on Thursday last week, making the total number of cement plants in Cambodia to five, according to a post on his official Facebook page. The new cement plant is called the Thai Boon Roong Cement Factory invested by a Cambodian conglomerate Thai Boon Roong Group. It sits on nearly 700 hectares of land located in Dangtong district’s Laang commune, Kampot province. The new cement factory is expected to create up to 335 permanent jobs, 90 percent of which are local employees, the post adds. According to a report by Xinhua News, the new cement factory cost $110 million to build. It can produce up to 2500 tonnes of cement a day and up to nearly 1 million tonnes a year. Together with four other factories, three of which are located in Kampot, and one in the northwestern part of Battambang, can collectively produce up to 8 million tonnes of cement per year.(The Cambodian premier addresses the crow in Kampot last Thursday. Facebook page) Addressing the crowd at the inauguration ceremony, Prime Minister Hun Sen welcomed the establishment of the facility and shared his enthusiasm that Cambodia has such facilities to locally produce and supply the high demands in the country - especially when its construction sector is booming.(The newly built $110 dollar cement plant, it can produce up to nearly 2500 tonnes of cement a day. Facebook page) “This is a new achievement on top of the existing achievements we already have. The establishment of this cement plant is an establishment of Cambodia’s heavy industry to contribute to the construction sector that is currently booming, especially the construction of buildings that are needed by people and all sectors” the post reads.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019. For more information about our Cambodia Real Estate Awards here! Article by:

Borey LJ, a landed housing project in Por Senchey district. Realestate.com.khCambodia has seen rapid growth in the past years, especially in the real estate sector. Thousands of new buildings are built across the country, mainly in Sihanoukville and Phnom Penh. Real estate agencies and agents play an important role as they help these projects to carry on their plans with sales.The growth of the real estate industry has led to an increasing number of real estate agencies and agents and intense competition among them. However, some property experts say developers should consider offering an “exclusive sales agreement” to a particular agency for a better sales outcome.According to Mr. Kim Heang, CEO of Khmer Real Estate, having one agency to represent developers is better than having multiple agencies because they will be more committed to promote and sell projects.“With developers, I always raise the idea of no exclusivity, no deal. We want to ensure that at the end of the process, we will be compensated for our work,” he said.“If we don’t have the exclusive right to sell the property, we might as well work as employees of the property owner,” he added.More and more real estate agencies in Cambodia require property owners to offer them exclusive rights to sell their properties, he continued.However, using multiple real estate agencies at a time is still a common practice among developers in Cambodia.Korn Kungkea, CEO of ERA Cambodia, confirmed that there is indeed a new trend towards exclusivity and said it will be more common in the future, but he adds that at the moment, the majority of developers are still using multiple agencies to represent their projects.“If the developers choose to have many agencies selling for them, the leading agencies with large teams will likely not participate,” he said.“The agents often pay for professional photography, copywriting, or videos to promote the property. So, if there are many agencies to sell one project, they will just wait for one another to do promotion and advertisement,” he added.Moek Chenda, founder of realestate.com.kh, Cambodia’s leading real estate-focused marketing company, said exclusive sales agreements could help promote healthy cooperation between agents and reduce unfair competition in the market.“This method will push for better cooperation between agencies. Those agencies that have exclusive sale agreements can work together based on their resources without taking advantage of each other. For example, if one agency has a client looking for a certain property, but that agency doesn’t have anything to offer, so they can refer the client to another agency that has,” he added.However, Mr. Chenda warns that exclusive agreement requires the agency to work hard and have a clear goal if they could not sell the property on time it will affect the company’s reputation.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Registration for Cambodia Real Estate Awards 2019 is open.Article by:

(From the left,  Mr. Suos Chenda, his excellency Nong Piseth and Mr. Thomas O'Sullivan. Phan Soumy) Realestate.com.kh held a press conference on Thursday morning at Lumiere Residence to officially announce the launch of Cambodia Real Estate Awards 2019 (CREA 2019), a platform created to recognise excellence in Cambodia's real estate industry.CREA 2019 is the second annual Cambodia Real Estate Awards, organised by Realestate.com.kh, a leading real estate marketing company, in collaboration with the Ministry of Economy and Finance (MEF) and the Cambodian Valuers and Estate Agents Association (CVEA).Joining Mr. Thomas O'Sullivan, the CEO of Realestate.com.kh, at the conference were His Excellency Nong Piseth, head of the department of real estate business and pawnshop of MEF and Mr. Suos Chenda, secretary-general of CVEA.His Excellency, Piseth, has welcomed and supported Realestate.com.kh's initiative in organising this award ceremony. He encouraged Realestate.com.kh to continue hosting it for years to come."On behalf of the ministry of economy and finance, I would like to warmly welcome and support it, because it allows a competition amongst the top-performers [agencies and agents]", His Excellency Nong Piseth said.CREA 2019 promotes world standard practices in real estateDuring this opening remarks, Thomas O'Sullivan, the CEO of Realestate.com.kh said, "The objective of the Cambodia Real Estate Awards is to assist in further professionalising the Cambodia real estate industry by recognising the leading agents and agencies and celebrating the finest real estate practices nationwide.""The mission of the Cambodia Real Estate Awards is to recognise the achievements of the Cambodian real estate industry objectively, without bias or undue influence and on a wholly inclusive basis, that allows all firm and individuals to participate regardless of the size or wealth of their operation," he added.Mr. Suos Chenda, secretary-general of CVEA also encouraged all the Cambodia-based agencies and agents to enter CREA 2019 as it is significant for their branding and businesses. Winning awards demonstrate their recognised abilities and top-performances to especially foreign investors who are interested in investing in Cambodia.He said, "Real Estate Award is very important. I would like to encourage all the agencies and agents to enter the competition to win awards in order to demonstrate your abilities, to show them, especially to real estate developers."(From the left,  Mr. Suos Chenda, his excellency Nong Piseth and Mr. Thomas O'Sullivan. Phan Soumy) Agencies and agents must be legally registered with MEF for entryCambodia's real estate sector is swiftly growing over the past years. The growth has led to a tremendous increase in the numbers of agencies and agents in the country. As a result, there are flaws and irregular practices within the sector, including those who operate in the market without legal licenses issued by MEF.Realestate.com.kh wants to help improve practices and celebrate those who are committed to staying professional. Therefore, it has employed a strict screening process for entering the competition.As of now, over 30 leading agencies have entered the competition and over 60 entries for individual awards.To be eligible for entry, all agencies and agents must possess all required licenses issued by MEF and be a member of CVEA.Registration to CREA 2019 can be done quickly online following three easy steps as below:1. Select the award categories you would like to enter2. Record a 2-minute video related to your entry (This short video is essential. It is your chance to convince and prove to the judging committee why you deserve the award.)3. Submit your video to Realestate.com.kh's team via info@cambodiarealestateawards.comTo find out more, please visit the Cambodia Real Estate Awards website or call 092 92 1000.It is one more week to go for agencies and agents interested in entering the competition. The registration deadline is on 21 November 2019. The Cambodia Real Estate AwardsMore than 20 awards will be given out to winning agencies and individuals. They are divided into two categories, including Agent Awards and Agency Awards. Agencies are classified into two types, determined by the number of employees, corporate and enterprise agencies. The corporate agencies have 1-15 staff while Enterprise agencies have a team of 16 and above.Cambodia Real Estate Awards for AgenciesReal Estate Agency of the Year (Corporate)Real Estate Agency of the Year (Enterprise)Best Up and Coming Agency of the YearRegional Agency of the YearValuation Company of the Year (Corporate)Valuation Company of the Year (Enterprise)Commercial Agency of the YearProperty Management Agency of the YearEmployer of Choice AwardAgency of Choice Award (chosen via public voting)International Agency of the YearCambodia Real Estate Awards for AgentsReal Estate Agent of the YearSales Agent of the YearRental Agent of the YearBest Up and Coming Agent of the YearAgent of Choice Award (chosen via public voting)Valuation Professional of the YearPublic voting for the Agency of Choice Award and Agent of Choice Award will start from 25 November till 06 December via CREA 2019's website and social media channels.(From the left,  Mr. Suos Chenda, his excellency Nong Piseth and Mr. Thomas O'Sullivan. Phan Soumy)Benefits of joining CREA 2019There are a lot of benefits to joining the CREA 2019 competition. As a winner, you will be recognised as a leader in the Cambodia real estate industry, awarded the iconic Cambodia Real Estate Awards trophy in which the design is inspired by Cambodia's landmark architectures by late Cambodian renowned architect, Vann Molyvann and a certificate."Most importantly, the agents and agencies that win awards, they also win a seal which they can use for the marketing for the rest of the year. It helps buyers, renters, developers, investors, and homebuyers to recognise those agents and they will trust those agents," Mr. Thomas said.Judging process for CREA 2019All the awardees of CREA 2019 will be judged and decided by a committee made up of respectful individuals and professionals in Cambodia's real estate industry, in combination with public voting online via Realestate.com.kh's website and social media channels. Judges for CREA 2019 include:Mr. Om Sengbora, Founder & Chairman of CEO MasterclubMr. Blaise Kilian, Executive Director of EuroCham CambodiaMs. Seka Hep, Sarin & Associates Partner of DFDL CambodiaMr. Teng Rithy, Founder & Chairman of R Investment GroupRealestate.com.kh will remain independent and stand aside from the judging process to guarantee that the judging process is fair and free from any bias and the whole process will be monitored with diligence by an established accounting and auditing firm, Cambodian Investment Management.Gala dinner at Sofitel Hotel The Cambodia Real Estate Awards 2019 is set for 12 December. All the shortlisted nominees and the broader real estate industry will be invited to join the Awards Ceremony and gala dinner at the Sofitel Hotel in Phnom Penh. Over 500 attendees are expected to attend, including leading real estate agents, developers, government officials, lawyers, economists, investors, home buyers and more. Sponsors and media partnersThis event is generously supported by Cellcard, KW Cambodia, Lumiere Residence, TNAOT News and CEO Masterclub.Media partners include CTN, Khmer Times, Freshnews, Fang.com, Thmey Thmey, BizKhmer, Property area Asia and EuroCham Cambodia.For tickets: Please call 092 92 1000 or email info@cambodiarealestateawards.comFor sponsorship: Please contactTYLER Stuart (English)tyler.stuart@realestate.com.kh+855 12 599 669 | +855 81 599 669NIN Kang (Khmer & Chinese)nin.kang@realestate.com.kh+855 78 637 323 | +855 93 552 305If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Registration for Cambodia Real Estate Awards 2019 is open. Article by:

The Morgan Group is offering a considerable discount and promotion with “limited time” for condo units within the Morgan EnMaison project, one of the latest and most significant property developments in Cambodia’s Phnom Penh city.Sixteen condo units within the Sky Condo at the Morgan EnMaison are now on limited sale. For an upfront down payment of $10,000 on a unite, Morgan EnMaison offers a matching $10,000 instant discount off the total price. That’s a massive deal, so hurry up before the units sell out.The Morgan EnMaison is located in Chroy Changva district, one of the most vibrant and fastest-growing neighbourhoods often dubbed as the Manhattan of Phnom Penh. It takes only 15 mins to travel to the central part of the city with excellent access.Currently, the district is booming with multi-million new property development projects. It is rapidly becoming a business hub with more major local and international companies settling down their regional offices.Morgan EnMaison to become modern Phnom Penh’s new landmarkMorgan EnMaison is a $160 million project. Its developer, the Morganford Group, a China-based real estate developer with years of experience with property developments in more than 20 cities across Asia, aims to make Morgan EnMaison as the new benchmark for the riverfront lifestyle of Phnom Penh and the representation of modern lifestyle facility in this regional fastest-developing city.The Morgan EnMaison is sitting on the 25,000 square meters of land, and the total amount of the complex is 400,000 square meters consisting of 5 buildings, including two 47 storeys, two 54 storeys and one 70 storey tower. There are 6,046 units within the five buildings combined and 39 percent of the complex is dedicated to green gardens. The project is expected for handover in 2022.Morgan Group had the biggest sales at Cambodia Realeastate.com.kh Expo 2019The Morgan Group participated in Cambodia Realestate.com.kh Expo 2019 in early October this year, the 5th in the series of property expo organised by Realestate.com.kh. It sold millions worth of properties within two days and attracted thousands of visitors to its booths.According to a representative of Morgan EnMainson, It noticed that during the 2-day property exhibition, nearly 50 percent of the attendees had visited its booths. As a result, approximately 50 sales were made at the event which worth millions of dollars. It became the company’s most significant sales in history. The group added that it had sold $2 million worth of properties including the sale of the entire floor in one deal at the expo.The Morgan Group brought three of its Cambodia-based latest and prominent real estate development projects, including Morgan EnMaison, Morgan Tower and Morgan Pure Bay, to showcase at the Cambodia Realestate.com.kh Expo 2019.Distinguished features of the Morgan EnMaisonThe Morgan EnMaison project come with a 220-metre high rooftop helipad and multi-level luxury sky club that can offer a unique experience and meets the desires of the city’s elites and business persons. What’s more? The project also offers its residents and visitors with the country’s most beautiful private yacht marina at the junction where three rivers meet and a 200-metre riverside walking path for people to walk for leisure or do outdoor exercise.On top of that, residents at the Morgan EnMaison will also enjoy the one-stop commercial centre and many other amenities at their fingertips, including the world-class shopping malls, infinity pools, restaurants, cafes, clubs, bars, gyms, spas, saunas, sky gardens and more.The Morgan EnMaison will become a new modern lifestyle community for the middle class, high class and elites. You can enjoy a noble lifestyle along with five-star property services including high-speed elevator, 24 hours security, parking lot and the best view of Phnom Penh’s skyline.The Morgan EnMaison is where you can live your lavish lifestyle to the fullest.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Registration for Cambodia Real Estate Awards 2019 is open.

Subscribe to SingMeng Internet & Get free SingMeng TVIn less than three years, SingMeng Telemedia has become one of the major Internet & TV providers in Cambodia. The company focuses on services provision to real estate projects but its solutions and products are also available for individual users.SingMeng Telemedia has launched a new promotion to celebrate ‘’Water Festival’’, a significant yearly tradition, with the Cambodian people. This promotion includes three months free trial on TV solution. This promotion is available to current Internet customers. They are not obligated to subscribe to the TV solution after the trial period ends if they don’t wish to continue.Promotion details:Subscribe for 6 months or 1 year to SingMeng Internet & Get three months free trial on TV solution.• Subscribe 1 year get three months free trial without deposit• Subscribe 6 months get three months free trial plus $30 deposit • Deposit is refundable and can be used as a service fee. • Promotion is available for current & new customers.Learn more here! What are the benefits being offered?SingMeng TV represents a new step in the TV entertainment industry. This TV solution offers multiple new benefits to its customers. Major benefits include:• A real HD TV viewing experience• More than 110 live TV channels• Hundreds of movies & dramas on demand• Time Shift Program system• Direct access to YouTube, YouKu & iQIY Apps• Multilingual Intuitive and Interactive InterfaceSingMeng aims to provide the best TV solution and great TV viewing experiences with more benefits to the Cambodian people and their family. With these 3 months, Free trial on their TV solution, SingMeng Telemedia want to show to their audience that a better TV solution is present on the market and this solution is ready for them!What kind of content is available on SingMeng TV?During this three-month free trial period, customers will have access to all SingMeng TV content.After being able to provide all the Khmer, live TV channels, the company has decided to continue to invest in this area and to offer exclusive worldwide content.Nowadays, SingMeng TV provides 109 Live TV channels, including 21 Khmer channels, 33 Chinese channels, 53 International channels and 3 gaming channels. In less than three years, the company launched its own channels as well as several premium channels, like Fox Movies Premium, Warner TV, Fox Sports, Discovery or Natural Geographic.Get your free TV:For more information:SingMeng's websiteSingMeng's Facebook page Hotline: +855 96 6661 888/ +855 89 966 888Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Registration for Cambodia Real Estate Awards 2019 is open.

Chip Mong Land has recently acquired the whole property of Grand Phnom Penh International City, one of the major and iconic property developments in Cambodia, according to its former developer’s press release issued on Wednesday.Grand Phnom Penh International City (GPPIC) is a major multi-million real estate development in Phnom Penh. It was formerly developed by a joint venture between Ciputra Group, a renowned property development company in Indonesia and Cambodia’s YLP Group.GPPIC sits on a 260 hectares piece of land located in the north-west part of Phnom Penh’s Sen Sok district. It is only 15 mins drive from Phnom Penh International Airport and the same amount of time from the city’s landmark of Wat Phnom.GPPIC is an internationally-standard property development. It features all the amenities needed for a modern lifestyle including international schools, hospitals, shopping centres, hotels and over 4.400 households, once completed. Not to mention, it also homes to a premium golf course designed by an American-based golf course design firm, Nicklaus Design.(Picture/GOLF CAMBODIA.com)Chip Mong Land is one of the leading Cambodian real estate developers, founded in 2008. It is a subsidiary of Cambodian conglomerate, Chip Mong Group. As of 2019, the company has developed 7 well-known landed projects including Park Land Sen Sok, Landmark 60M and Park Land TK, to name a few.Chip Mong Land has some impressive plans for existing properties within GPPIC as well as some future plans to further develop the site.As an experienced developer, it wants to use its skills and specialisations to build high-quality residential and commercial properties to meet the rising property demands amongst middle and upper-class Cambodians and contribute to the country’s economic improvement, according to the group.“The future plan is to bring newly designed and high-quality houses to meet the demand of our customers. We also plan to build malls and other commercial buildings to serve the rising economy of the country,” said a representative of Chip Mong Group’s corporate communications unit.“For all the existing projects, we will improve the infrastructure and service using our strong and long-term experiences in property development and management,” he added.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Registration for Cambodia Real Estate Awards 2019 is open.Article by:

Some apartment owners in Sihanoukville are struggling to pay off debts, borrowed specifically to build apartments to rent to Chinese nationals. Many units in those new buildings are not filled, after the exodus of tens of thousands of Chinese people from Sihanoukville, amid the ban on online gambling, according to a representative of civil society organisation.In a recent interview with RFI Khmer, a provincial coordinator for ADHOC in Preak Sihanouk, Ms. Cheap Sotheary, said those who borrowed money from banks to build apartments for renting out to Chinese people in the province are facing with a potential risk of not having money to pay off their debts.Many of those apartments became unoccupied after the mass departures of Chinese people after the Cambodian government’s recent ban on online gambling throughout the country. To attract more tenants, some property owners had lowered down their rental fee as low as 50 percent, Ms. Sotheary added.Cambodia to ban online gamblingOn August 18, prime minister Hun Sen issued a directive that halted the issuance of new internet gambling permits and that means the existing licences will not be renewed once expired. The government claimed the move is to address the rising cases of money extortions around online gambling venues.The gaming industry is believed to be one of the main reasons that drew both investors and tourists from China to Cambodia over the past few years, especially to Sihanoukville, Bavet and Poi Pet where the industry booms.Over the past years, the number of direct investment from China to Cambodia has been rapidly increasing, especially into building hotels, residential buildings and casinos in Sihanoukville. These flash investments and sudden influx of Chinese people caused the real estate prices high in Sihanoukville and growing demands of accommodations.Some apartments in Sihanoukville are emptiedHundreds of new apartments were recently built over the past years, which mostly by locals who borrowed money from banks and financial institutions, to meet this huge demand. That’s why they are crashed when a large number of Chinese people left the city.(Picture/ Khmer Times) According to a report by Khmer Times, from August 18 to September 7, about 140,000 Chinese nationals left Cambodia. In an interview in July with Fresh News, national police spokesman, Kirth Chantarith said there were about 2 million recorded Chinese people arriving in Cambodia and about 250,000 were working and investing in Cambodia.Sihanoukville’s real estate starts to feel the hit(From the left, Mr. Cheng Kheng, Mr. James Hodge and Mr. Kim Heang)During his presentation on Cambodia’s Q3 real estate market update held on 11 October, Mr. James Hodge, director of CBRE Cambodia said that the government’s recent ban on online gambling has started to have some impact on the country’s real estate sector specifically in Sihanoukville, the country’s fastest-growing region.Mr. James Hodge said, “generally speaking we started to see some reduction in land prices in Sihanoukville, as some people are putting lands on the market there.”Mr. Kim Heang, CEO of Khmer Real Estate also echoed James’s observation on the impact of the ban.During this presentation at Realestate.com.kh Expo 2019, Cambodia’s biggest real estate expos to date, organised by Realestate.com.kh, the country’s leading online marketing company for real estate, he said the continued departures of Chinese citizens from Cambodia will affect land prices in Sihanoukville, Poipet and Bavet.He said, for the buildings that used to be rented out for ”$20.000 a month, no one is renting them now, even for $8.000 a month, no one is renting them too. For the land price that was risen up to $500 per square meter, and now being sold for $150 dollar a square meter, no one is buying it.”In order to minimise the negative impacts that happening right now on the real estate sector, Mr. Kim Heang suggests that the government continues to issue online gambling permits for those who are currently operating in Cambodia for another year. He believes the move will help stabilise the property market.On the other hand, Mr Cheng Kheng, Chairman and CEO of CPL Cambodia, thinks that the impact on real estate sector from the government’s ban is very minimal. He believes the move will help stabilise the sector instead and that gambling is not bringing stability and long-term investments to the country.To find out more about casinos in Cambodia, read our guide to casinos in Cambodia. Registration for Cambodia Real Estate Awards 2019 is open. Article by:

(Aerial picture of the under-construction buildings in Sihanoukville. Realestate.com.kh)Cambodia’s construction sector continues to grow given the gradual increase of investments in the sector and large imports of construction materials into the country, according to the latest report released on Thursday by the World Bank.The World Bank’s East Asia and Pacific Economic Update predicted that Cambodia’s economy will increase by 7 percent due to the country’s good performance in the construction sector.Ly Sodeth, a senior economist at the World Bank​ Cambodia, said the total import of steel has increased 63.5 percent within the first nine months this year compared to the same period last year. It indicates strong growth since it was only 27.7 percent increase between 2018 and 2017.“Steel is a key material in the construction sector and we don’t produce steel locally. If we see a huge increase in steel imports, it can reflect how the construction sector performs,” he said.The total investment in Cambodia’s construction sector has reached over $3 billion for the first six months in 2019, while there was only $2.1 billion for the same period in 2018, a 57.5 percent increase, according to data from the Ministry of Land Management, Urban Planning and Construction.Heom Seiha, a research director of V Trust Appraisal, said that values of investment in the construction sector have been increasing significantly in the last decade due to the increase in demand for housing among local buyers, which is driven by the growing numbers of newly-weds and middle-class population.He also added that the growing demand for office space, serviced apartments, condominiums, and commercial buildings also contributed to the rising demand for construction materials.“The rising imports of steel and construction equipment show a steady growth year on year that proves a healthy growth of construction sector,” he said.Chheang Suyheang, a representative for over 100 brick kiln owners in Kandal province’s Mukh Kampul and Khsach Kandal districts, has confirmed that the demands of brick are still high. The orders are mostly from Sihanoukville, Kampot, Phnom Penh and Poipet where the sector is booming.While the industry sees no sign of decline soon, Ly Sodeth from World Bank reminds that having some strategy in hand to prevent any risk is also a good method.“Construction sector always has a boom and bust cycle. We don’t expect construction boom continues forever,” he said.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Registration for Cambodia Real Estate Awards 2019 is open. Article by:

Phnom Penh, Cambodia: Tens of thousands of property buyers, investors, real estate agents, developers and more flocked to NagaWorld Hotel over the weekend where the country’s biggest property show, Realestate.com.kh EXPO 2019, was held.Realestate.com.kh Expo 2019 earns a magnificent triumph The Realestate.com.kh EXPO 2019 is a series of real estate exhibitions organised by the country’s leading property search platform, Realestate.com.kh. The show was once again the country’s top real estate event of the year, according to Tom O’Sullivan, CEO of Realestate.com.kh.“This is another milestone moment for our company and the team at Realestate.com.kh. Our latest event, the Realestate.com.kh Expo 2019 was our most successful property sales event yet, we are still totalling final numbers but we have certainly doubled attendees compared to last year and broke the record of $30 million in property sales. Our primary data shows we appear to be well over $40 million in property sales so far” Mr. O’Sullivan said.The Realestate.com.kh Expo 2019 was well-organised and named the biggest gathering of industry experts, developers, agents, financers, legal experts, local and international investors and homebuyers to date, according to the event's participants and speakers.Experts-led seminars help the public to understand the country's real estate development betterIt brought together more than 20 real estate and legal experts to talk about real estate-related topics and the industry’s current trends. To name a few: Cambodian real estate mogul Okhna Sear Rithy, Chairman of Worldbridge Group who gave the opening remarks, Oknha Cheng Kheng, Chairman and CEO of CPL Cambodia, Ms. Catherine Chan, Executive Director of Urban Village and Mr. Li Min, CEO of Prince Real Estate Group.The claim was also echoed by Mr. Marc Townsend, Chairman of CBRE Cambodia and one of the guest speakers at the seminar. He said the event was “well-attended, well-organised and CBRE Cambodia will be back next year.”Catherine Chan, Executive Director of Urban Village, one of the exhibitors at the Realestate.com.kh Expo 2019 said the event was "good and crowded". She added that the event helped raise branding awareness for her Urban Village project and the company will participate again in the next expo.One of the standout exhibitors this year was Prince Huan Yu Real Estate (Cambodia) Group, which closed more than 70 deals worth more than a whopping $15 million, said the company’s planning manager, Mr. Li Yan Jin.Realestate.com.kh Expo 2019 holds the country's best property show of the yearPrince Huan Yu Real Estate in total sold 48 units of office space of Prince Huan Yu Center in Phnom Penh and 24 condo units of Prince Golden Bay in Sihanoukville. On top of that, the company received 168 leads, 68 of which were Cambodians, Mr. Yan Jin added.Another well-performing exhibitor was Morgan Group, which sold 50 condo units of its riverfront condominium Morgan EnMaison. According to the group’s planning manager, Mr. Yao Chao, 17 of the 50 units were purchased by Cambodians, and the total closed deals were worth about $7.5 million.Urban Village is another project that performed really well at the expo. The company sold 10 units on spot and closed 100 more deals in the past week which worth $10 million in total, Ms. Catherine Chan said. Toul Kork Lane had also closed two deals amounting to nearly $130,000.Realestate.com.kh Expo 2019's generous sponsors Realestate.com.kh Expo 2019 was made possible with the generous support of LukFook Jewellery Cambodia, a Hong Kong-based jewellery company with thousands of retail outlets across China and Southeast Asia.Also joining to sponsor the show were international logistics giant ZTO Express, Ezecom, LZ Sea View Residence, Cellcard, The Khmer Times, Netease, Lumiere Residence, YuanDao Architecture, Snowbell Hotel, and CDF-Cambodia Duty-Free.Exhibitors at Realestate.com.kh Expo 2019The companies that presented at the Cambodia Realestate.com.kh Expo 2019 were Aru-Me Metal, Prince Real Estate Group, Prince Huan Yu, Prince Jin Jia, Victory Bay, La Vista One, Urban Village, Bel Air, Creed (Zelkova), Aristo Developers, SH Condo, M Residence, Chief Bank, North Park Condominium, The Penthouse, Beyond Design, HLG (Harvey Cambodia Co., Ltd.), Pafillia Property Developers, Leptos Estate, MAA Architecture & Design, Oxley Emerald, Orkide Villa, Le Bassac, E-Power, Yi Fung Real Estate, Huateng (Cambodia) Investment Co. Ltd., New Landmark, Unicom Scienceplastic, C-Herald Property Service, Huaye, HYO, Morgan, R&F, KH Land, International Top Agent (ITA), Toul Kork Lane, Baoli Mansion, The Bund, CBRE, WanHao, Wealth Mansion, FDD Real Estate, Century 21 Cambodia, and Zenearth.Media Partners Media companies presented at Realestate.com.kh Expo 2019 include: Thmey Thmey, Property Area Asia, Fresh News, CTN, MYTV, Khmer Times, Sabay, Biz Khmer, B2B Cambodia, Eurocham, Britcham, Amcham, Koh Santepheap Daily, Love FM, Sing Meng, Gold Zone Media, Nice Tv, Grep Tech, CDF, Fang.com, Enjoy Cambodia, Angkor Today, Jian Hua Daily, Commercial News, The Cambodia China Times, Tnaot App.The next marquee event from Realestate.com.kh in its event series is the Cambodia Real Estate Awards, which is held in conjunction with the CVEA and the Ministry of Economy & Finance on December 2019. Sponsorship and entries are now open!If you’re interested to sponsor the event please call:Nin Kang (Chinese/Khmer)nin.kang@realestate.com.kh+855 78 637 323 / +855 93 552 305Tyler Stuart (English)tyler.stuart@realestate.com.kh+855 12/81 599 669 Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Article by: