Taking place this weekend, Realestate.com.kh is all set to host the Home & Lifestyle EXPO 2023 at the Koh Pich Exhibition Center. The event will bring together over 100 exhibitors, ranging from real estate projects, trust companies, agents and other property-related companies providing attendees with exclusive insights into the property market in Cambodia.Since its inception in 2017, Steff Khiem, the Events Manager at Realestate.com.kh, highlights the evolution of the property showcase. "With each edition, our goal has been to introduce new attractions and exhibitors, all geared towards enhancing the attendee experience. In addition to showcasing ongoing developments in the market, this year we have expanded our focus on the property market by including resale properties at great prices, marking the first instance of such offerings being included."According to  Realestate.com.kh  site data, the count of properties listed for sale below their market value has surged by 15% on Realestate.com.kh in the past half-year. This points towards homeowners being eager to achieve swift sales within the current market setting. This situation presents an advantageous prospect for cashed-up buyers to secure purchases at favourable prices.Furthermore, a recent report released by Realestate.com.kh highlights a substantial adjustment in the pricing of off-plan condominiums that have occurred when contrasting 2019 prices with the present day. The report notes that the average price per square meter for off-plan condominiums has decreased from $2,800 to $2,000 / sq.m. This market adjustment has reignited off-plan condominium sales and led to robust sales rates for new condominium project launches, with particular reference to new launches from developers who have established and proven track records.As the Cambodian real estate sector develops, potential property buyers now possess greater access to information, resources, and comprehensive reports. Consequently, property seekers are better informed prior to making decisions regarding the acquisition of a residence or investment property. Among the prominent exhibitors joining the ‘Home & Lifestyle Expo 2023, Urban Living Solutions (ULS) will be showcasing their latest projects during the event. Their latest campaign ‘I OWN IT’, focuses on investing wisely. Ty Chea, the Head of Sales of Urban Living Solution expressed enthusiasm for participating in the event, and also getting to meet the crowd stating, “Buyers are becoming more discerning and educated, having a chance to speak to them directly is a great opportunity for us to connect, and present the growing trend of community living in Cambodia. Well-known for community-focused projects, Urban Living Solutions, will be showcasing the newly launched condominium ODOM Living, their low-rise property Rose Apple Square, and landed property Bakong Village respectively located in Phnom Penh and Siem Reap. The market for landed properties will witness a strong representation from esteemed developers. Sokha Cheng (Kelly), the Sales and Marketing Director of Orkide Villa, mentioned, "Our association with this event dates back to 2017, and while it undoubtedly offers us a valuable platform to present our developments, it equally empowers attendees to explore reliable projects within the market." Furthermore, the event will feature the participation of various other property developers, in addition to Borey Peng Houth, Borey Willams, Borey Bosba, Borey Chankiri, Rose Marvel, and others. In addition to the properties within the capital, the spotlight will extend to Sihanoukville during the event. The coastal city is a rapidly growing destination in Cambodia and abroad over the last four years. It is transforming into a key hub for trade, tourism and business, particularly with the emerging Bay of Lights, a mixed-use development project from the Prince Real Estate Group. Edward Lee, CEO of Prince Real Estate, expressed, "This expo provides us with a valuable platform to further promote Cambodia as a sought-after tourist destination and to invite multinational companies to enter the market." Furthermore, the real estate prospects beyond Phnom Penh offer a window into the advancement and growth taking place in other urban centres. Cambodia's ongoing development positioned itself as a prominent location for real estate investment in Southeast Asia. Cambodia’s Leading Boreys, Condos, Banks, Lifestyle & Corporate brands The who's who of Cambodia's property market and ancillary services are already onboard with more coming as the EXPO 2023 on August 12 & 13 draw closer.Major sponsors & key supporters include: IAAC Airport advertising, COGETEL (ONLINE), NHAM24, Legend Cinema, Wowee Advertising, Poma Media, Watch Empire, Provida Water, Cambodian Investment Management, B2B Cambodia, and Gold Zone Media.Exhibitors include: Borey Peng Huoth: The Eco Collection, The Star Polaris 23 Condominium, PH Grand Hall, Orkide Development: Orkide The Botanic City, Orkide The Pochentong, Orkide The Royal Condominium, Prince Real Estate Group: Prince Central Plaza, Prince Happiness Plaza, One Tropica, Morgan Group: Morgan Tower, Morgan EnMaison, Morgan Champs-Elysees, Overseas Cambodian Investment Corporation (OCIC), RoseMarvel Property Development: Mean Chey Residences, Urban Living Solutions: Rose Apple Square, Odom, Bakong Village, Urbanland: Borey Chankiri, Borey Dragon Land 598, MSQM ZTH: Leedon Heights, Le Condé BKK1, Residence H Sen Sok, Creed Cambodia, Borey Bosba, Chroy Changva Satellite City, Borey Heng Heang, Borey New Hope, Tourism City, Borey Mongkul, KH Land, ABA Bank, Canadia Bank, Shinhan Bank, KB Daehan Bank, GAC Motor, ISUZU, Forthing, STMarket, ARISTO Developers, DeGrand Realty, Borey Mongkul, Upward Property, FazWaz Cambodia, Parc 21 Residence, eMedia Links, Simplex, Stronghold Trustee, Orkun Solutions, Hitachi Elevator, MOVE By LM CAR, DreamsTown and more.Media partners include: Khmer Times, B2B Cambodia, AmCham, Cambodia Investment Review, Property Area Asia, Gold Zone Media, The Cambodia China Times, Enjoy Cambodia, Business Cambodia, FreshNews, Koh Santepheap Daily, Kampuchea Thmey Daily, ThmeyThmey, CNC, BTV, PNN, Hang Meas, CTV, TVK, CTN, Jianhua daily.For express entry, Click to register for the event https://www.realestate.com.kh/expo/

Get ready! Mark your calendar for the highly anticipated Home & Lifestyle EXPO 2023 on August 12th and 13th, from 10:00 am to 8:00 pm, at the KOH PICH Exhibition Center. This two-day event brings together Cambodia’s leading property developers, banks, lifestyle brands, and more, all under one roof!A Gateway to Your Dream HomeIf you’ve been dreaming of finding your perfect home or a great investment property, then this event is for you. The Home & Lifestyle EXPO 2023 offers a unique opportunity to engage in face-to-face discussions with the country’s most reputable property developers. Get the chance to learn about their latest projects, such as Odom, Le Condé BKK1, J Tower 3, Leedon Heights, Borey Chankiri, and Borey Dragon Land 598. Explore various housing options and secure some of the best deals of the year.And in case off-plan property doesn’t suit your preferences, seize the opportunity to acquire some of Cambodia’s finest homes at prices below market value.Expert Consultations for Informed DecisionsMaking a significant investment, such as buying a property, requires careful consideration. That’s why Home & Lifestyle EXPO 2023 goes beyond showcasing properties. At the event, you can consult with leading banks and property-related companies to receive expert advice and insights. These consultations will help you make well-informed decisions and guide you through the entire buying process.Beyond Properties: Lifestyle brands, Nham24 food hall & even a kids wonderlandThe Home & Lifestyle EXPO 2023 is not just about properties; it’s a holistic experience that brings together various aspects of modern living.Car Showcase: Cambodia’s latest models and innovations will be on display at the expo. Get up close and personal with cutting-edge cars and explore the future of mobility.Feast of Flavors: Take a stroll at the NHAM24 food hall, where a wide variety of treats awaits you. From authentic local delicacies to international cuisine, it will surely satisfy your taste buds and let you discover new flavors.Kids’ Wonderland: Don’t worry about keeping the little ones entertained while you explore the expo. The SCIA Kids Play Area provides a dedicated space to ensure your children have a fantastic time with engaging activities and games.Discover, Experience, and EnjoyThe Home & Lifestyle EXPO 2023 is a one-stop destination for property seekers, lifestyle enthusiasts, and families alike. It is an opportunity to experience the best offerings from Cambodia’s leading brands, all conveniently brought together at the KOH PICH Exhibition Center.So, mark your calendars, invite your friends and family, and head over to the Home & Lifestyle EXPO 2023 on August 12th and 13th. Discover your dream home, explore the automotive world, savor culinary delights, and let your kids have a blast.For express entry, Click to register for the event https://www.realestate.com.kh/expo/

When choosing to buy a property as an investment, there are various factors to consider. To ensure that the property holds high value and promises desirable returns, one of the key aspects is to focus on an area where people actively live, work, and engage in daily activities. It can be a significant driver of a property's long-term potential and overall value. Among the many factors that contribute to the attractiveness of a location, proximity to educational institutions, such as schools, has emerged as a noteworthy consideration for investors. In this article, we will delve into the compelling reasons that make real estate near schools a worthwhile consideration for property investment.Consistent DemandProperties located close to schools have an advantage due to the consistent demand from families and individuals seeking convenience and accessibility to educational facilities. Families with school-going children often prioritise living within a reasonable distance of schools to save time on daily commutes and ensure easy access to quality education. In addition to catering to families with children, properties located near schools also hold great appeal for teachers and staff working at these educational institutions. Teachers and staff members often seek accommodation close to their workplace to minimise their daily commute and enjoy the convenience of living within walking distance or a short commute from the school. As a result, properties in these areas can attract potential tenants from the school staff and rental demand.Safe NeighbourhoodSchools are essential community institutions, and the presence of educational facilities in a neighbourhood often contributes to a sense of safety. The regular presence of parents and school staff, as well as the additional security measures around schools, can positively impact the overall safety and security of the area. Homebuyers and tenants, especially families with children, often prioritise safety as a crucial factor when choosing a place to live. The reputation of the school and the positive impact it has on the area's safety can significantly increase the desirability of properties nearby. Real estate is strongly influenced by location. If the location is safe, it brings appeal to the appreciation price of the property. Areas surrounding reputable schools often experience higher property value growth than other locations.Easy Access To AmenitiesSchools are usually located in neighbourhoods that offer various amenities. A variety of eateries, cafes, and restaurants nearby ensure that students and staff have access to choices for their lunch breaks or after-school gatherings. Additionally, having entertainment options in the area provides children with recreational activities to enjoy during their leisure time, such as parks, playgrounds, and recreational centres. Proximity to these amenities adds further appeal to properties in the area, making it an attractive prospect for homebuyers and tenants alike.Where Are Schools Located in Phnom Penh?Phnom Penh boasts a diverse range of educational institutions, catering to students of all ages in many areas. From preschools to universities, there are numerous options available for parents and learners alike. When choosing a school in Phnom Penh, it is crucial to consider its background and reputation. Reputable schools often have experienced faculty and better facilities which appeals to parents and students. As for the locations of schools in Phnom Penh, they can be found throughout the city. Notable areas with a concentration of schools include BKK (Boeung Keng Kang), Koh Pich  (Diamond Island), Dauh Penh, and Toul Kork. To find a complete list of schools in Phnom Penh, click here.In conclusion, choosing to invest in properties near schools is a proposition that may attract both homebuyers and real estate investors. The benefits of such a good location include demand from families and school staff, safety and security, along convenient access to a variety of amenities in the surrounding neighbourhoods. Moreover, properties located in areas with schools and other institutions have the potential for significant appreciation in property value, as they are sought-after in the real estate market.Looking for a smart investment in Cambodia today? We have 50,000 listings on our website ready for youClick Here

Cambodia is blessed to have many development and infrastructure projects running concurrently, and the prized coastline and the islands that lie off the Gulf of Thailand in Cambodia's territorial waters are drivers for long-term tourism and hospitality growth, as well as the economic prosperity of the Kingdom. However, there needs to be a fine balance between granting development concessions and maintaining the natural beauty of the coast and the islands which ultimately promises greater investment in the tourism and real estate markets.Cambodian Economic Outlook 2023-2024Cambodia’s economy is still expected to grow at an estimated 5.5-5.6 per cent in 2023 which far outstrips the global outlook. Global growth is projected to fall from an estimated 3.5 per cent in 2022 to 3.0 per cent in 2023 and 2024, according to the International Monetary Fund (IMF).The National Bank of Cambodia recently slightly revised its growth forecast of Cambodia to 5.5 per cent in 2023. GDP growth in 2024 is estimated at 6.6 per cent.Growth in emerging markets and developing economies is expected to be 4.1 per cent in 2023 - so even among its competitive frontier-market piers - Cambodia is leading the race.The tourism sector is expected to experience healthy growth - Asian Development Outlook April 2023 report projects 7.3 per cent growth in 2023 before easing to 6.8 per cent in 2024.Cambodia attracted fixed-asset investment projects worth USD $1.1 billion in the first half of 2023 and a total FDI worth $45.8 billion! In the first six months of 2023, Cambodia hosted 2.57 million international visitors - this is over a 400 per cent increase from the same period in 2022. The most visited destinations in the Kingdom were Preah Sihanouk coastal province, followed by Battambang province, Phnom Penh, the coastal province of Kampot, Siem Reap, and Kandal province.Pentagon Strategy Phase I - Government LegacyWith new leadership in the newly elected Cambodian government taking the helm, following the news that Prime Minister Hun Sen would be stepping down, it has been made clear every effort will be made to have a seamless transition with younger political alumni to take Cambodia into the future.At the core of these succession plans is the Pentagon Strategy Phase I which is meant to concentrate on seven key areas of Cambodia’s economic development.The plan is not a complete shakeup of current economic drivers and strategic plans but rather cements the focus of the next five years on achieving the goals for Cambodia’ to become an upper-middle-income economy by 2030, and an even more ambitious plan to be a high-income economy by 2050.The key drivers of the Pentagon Strategy Phase include:Enhancement of governance and institutional capacitiesCreation of favourable socio-economic development conditionsDevelopment of human resources - private and labour developmentDiversification of the economy and strengthening competitivenessSustainability and inclusion and development of digital economy and societyKep - From Sleepy Town To Major DevelopmentsKep has already seen some fundamental changes over recent years and there are some major development projects reshaping the coastal town to try and revitalise the area and establish it as an alternative international tourist destination in Cambodia - although it has long been a holiday retreat for Cambodians and expats alike.Popular Kep National Park (which had a new road constructed through it), the Phnom Kampong Trach Caves, and the nearby nature reserve all remain popular attractions.New Kep Beach & Kep WestFor those familiar with the man-made extended beach near Knai Bang Chatt, the area is part of a newly transformed “Kep West”, which is really trying to target affluent travellers and holidaymakers (domestic and international).The newly widened beachfront and the addition of the Royal Kep Yacht Club (RKYC) are new attractions. While the original beach was 350 meters long, it has been expanded into a 2700-meter-long public beach. This is the early stages of a new masterplan for Kep which could see the area transformed and targeting a specific affluent market.Koh Tonsay Rabbit Island Port & DevelopmentIn terms of water access, the southern water corridor is being opened up via local ports which plans to offer direct routes to Phú Quốc (Vietnam) and international tourism, as well as bolstering domestic tourist accessThe port to connect Kep and Rabbit Island is the new Kep-Koh Tonsay Tourism Port which was completed in 2022 and stretches 306 meters long and 68 meters wide. The port can accommodate boats carrying 200 to 300 tourists (due to water depth) and the plans are to make it an international hub to help generate economic growth of the local economy. The port was developed at a cost of USD $18 million.A USD $130 million development project on Koh Tonsay run by the Try Pheap Group was also granted in 2021 which was planned to include five-star hotels, commercial zones, casinos, bungalows, public places and transportation such as a cable car - all over 140 hectares. Rabbit Island is located about 4.5km southeast of Kep town.Kep Coastal RoadsThe Cambodian government is looking for massive investment in the Kep area as well as developing improved transport links. Road Number 3 was completed, while Roads 31 and 33 are being refurbished and the installation of cycling and walking lanes along the coast will help promote the area in terms of tourism. The Kep coastal road spans 12.75 kilometres, connecting the Rabbit Island Port to Angkol Beach and was constructed with a USD $10.5 million loan from the Asian Development Bank.Kep Satellite CityIn Q2 2023, the plans for the development of a satellite city project in Kep run by real estate tycoon Khun Sear's company, covering a total area of 1,467 hectares in Sangkat Kep, Kep City, and Pong Teuk Commune, as well as Ang Kol Commune in Damnak Chang Eur District was approved.Other Cambodian Island Development ProjectsIn late 2022, Koh Tbal Island (Mortar Island), which is located 1.3km southeast of Koh Tonsay Island, was also earmarked for major development as the Duke Try Pheap Company would develop it into a natural tourist area (it's part of the Try Pheap Group), investing USD $17 million.In September 2022, SAMANEA CO., LTD was also allowed to invest in tourism development projects on three islands in Kep province to the value of USD $18.2 million. The goal is to develop tourism resorts and sites on three islands; Koh Svay, Koh M’tes and Koh KokIn April 2023, the Cambodian Investment Committee of the Council for the Development of Cambodia also issued licenses to GTVC IMPORT EXPORT CO., LTD “One Island” investment development project. This is located in Sangkat Koh Rong Samloem, Koh Rong City, Sihanoukville Province with an investment capital of approximately $ 7.7 million.At the same time, DEN NOKOR (CAMBODIA) INVESTMENT CO., LTD Investment project was approved for a tourist resort on Koh Toteung and other related activities located in Koh Sdach village, Koh Kong province. The investment capital was approximately USD $30 million.Cambodian Port DevelopmentsThe Ministry of Economy and Finance, Ministry of Public Works and Transport, and the Ministry of Tourism will co-host an investor seminar on “The Operations and Maintenance of Kampot Tourism Port through the Public-Private Partnerships” on August 17, 2023, in Phnom Penh and have invited local, regional, international port, and tourism ferry operators and other interested private investors. The aim is to highlight opportunities in developing coastal tourism in Kampot and Kep provinces and connecting sea tourism in Cambodia with Phu Quoc as well as the chain of other islands within the region, said an official release.Kampot Tourism Port was built under an ADB loan of more than $18 million but needs investment to be operational but is hoped that it will serve as a gateway for cruise ships connecting Thailand and Vietnam to Kampot.Here is a reminder of some of the key infrastructure projects including ports in Cambodia that we have covered before. The USD $300 million construction of the international airport on Koh Rong Island (with investment from The Royal Group Koh Rong Development Company, a subsidiary of the Royal Group Co., Ltd.,) also got underway earlier in 2023 and is expected to be completed in 2027/8.There have already been Thai and Singaporean delegations shown around the key investment hotspots in the Kingdom in 2023, with another Chinese investor delegation planned for later this year.As ferries, planes (including Samra Seaplanes with the venture set to be operational in 2023), rail networks and expressways make it easier for tourists to reach the coast and island-hop to their hearts and budgets desire, the Cambodian coast will continue to attract investment - but how sustainable development projects align with economic prosperity remains to be seen.

Phnom Penh is multicultural and forever morphing as the capital city balances its growth as a hub of investment and a destination of choice for business, Cambodians, and foreigners who might be relocating temporarily or permanently to the Kingdom. No city is without flaws, but the relative ease of transportation across the capital, the massive range of dining, retail options, sporting & leisure activities, as well as promising infrastructure projects in the pipeline, means there is plenty for families to enjoy in Phnom Penh. Affordable Living and Property - Phnom PenhNo matter which way you cut it, Phnom Penh remains an incredibly affordable capital city which offers a mixed variety of retail, leisure and all the bright lights that attract expats, Cambodians, business and travellers. The ease of living and affordability when it comes to housing options and the choice available is clear to see.From condos, to refurbished Khmer properties and shophouses, boreys and even villas - there is a budget and space available to everyone, but especially to those moving to the Kingdom from abroad. (For those bemoaning assumed rising costs, having just been through Hong Kong and in Europe, Cambodia has a long way to go to worry about being priced out of housing!)There thankfully also been a trend in the rise of incorporating green spaces in both residential and commercial properties in Cambodia, yes its not at the level we might all like it to be, but the combined importance of the environment’s well-being but also mental health has resulted in a demand for eco-friendly buildings, green infrastructure, and access to nature.Whether you are renting or you decide Phnom Penh is a long-term investment and living destination for you, there are several excellent guides to help you with the process, but the fact that foreigners can own property, own a business, and relatively easily renew visas in Cambodia are all attractive. Education In CambodiaThere are a large number of private schools operating in the Kingdom, and they are among the most affordable in the Asian region. The latest report from the International Schools Database suggested that Phnom Penh is the second cheapest city across Asia for international schools. More and more international school franchises continue to enter the market and the report indicated that the median prices for international schools in the capital of Cambodia are USD $4,908, with highs of USD $20,340 per annum.Whereas in the past, providing specialised services for youths and kids who need adaptive educational, developmental, emotional, or behavioural education would have been a challenge, the situation has improved. This is also true for mental wellness and specialists who offer expertise for children.Some Cambodian banks even offer junior bank accounts and promote tools for managing​ money​ and​ building​ healthy​ saving​ habits.Family Activities In Phnom PenhOver the past decade some fun family and group activities have come and gone, but there is probably a wider choice available now than ever before. Providing safer and more diverse playgrounds and recreational facilities for families with kids and tweens in mind have been more carefully planned and considered by developers, businesses, and to some extent the Sangkats.Utilising swimming pools on the weekend (either at condos or at the many hotels that allow outside guests) has been a longstanding pastime. That has been elevated with the likes of Garden City Water Park (which is also ideally located near the Phnom Penh Safari.)There are also escape rooms, Fly Phnom Penh (trampoline park) and even a skatepark located at The Factory which also hosts events and fairs.Other sporting activities aimed at youths (and many age groups) include the CIS Roller Dome, several coaching clinics and youth sports from AFL, GAA, Touch Rugby, Soccer, Basketball, a variety of MMA etc.Even if sports are not for you, there is a range of arts and crafts, music and dance, as well as board games cafes and clubs, Dungeons & Dragons groups and other tabletop game activities and clubs in the city (try Battle Forged for Warhammer and Games Workshop).Parks on Koh Pich (Diamond Island) such as Treellion and Coconut Park have regular events, live music and some greenspaces for the family with farmer markets becoming a regular occurrence.Coconut Park has held public film screenings, offers a kids splash pad area, and arts and crafts indoors as well as a dance studio. Treellion Park is home to the city’s only put put course (Birdies Mini Golf) and hosts several concerts and music and themed events, dining options, as well as the popular DIB club swimming pool and even Karting!Malls are everywhere now in the capital with more coming. This means they address the retail therapy needs but also offer welcome relief from the hot days as they are air-conditioned. There are many family-friendly activities (and better shopping choices for kids' toys and clothes as well as educational supplies.) From gaming arcades, bowling, to affordable cinema experiences (budget to Imax) the edutainment side will be on the up and up as malls compete for customers. Dining out, the surge of food delivery apps, and the sheer abundance of cafes and restaurants mean there is a wide range of international and local cuisine that is perfect for family feasts and for many budgets. One perk is there is better education on allergies and the availability of menus that cater for these as well as lactose intolerance and even gluten-free requirements but the sector still has to make some progress in this regard.There are also a plethora of online activities to keep families and kids entertained from online and mobile gaming, streaming services and so much more.Weekend GetawaysAside from the increased ease of international travel and flights -  especially with a mid-long term view of the additional and ambitious airports being developed in the Kingdom - there are such an abundant number of rail, ship, and highway projects under construction and in the pipeline, the reality is domestic and international travel will become more affordable, and less time-consuming. Getting the family in a car and heading to the coast and exploring the islands and a planned remodelling of Sihanoukville, venture to wildlife and nature at Kirirom, or head to explore Siem Reap, Kep or Kampot all over a weekend.If it's school holidays, or making use of the many public holidays still officially recognised in the Kingdom, escaping the city is as healthy and necessary as enjoying all of the benefits Phnom Penh has to offer on a day to day basis.The completion of the Phnom Penh Sihanoukville Expressway has significantly improved accessibility for domestic travel from Phnom Penh to the coast, reducing the travel time from six to just 2.5 hours - and the options of buses, private taxis or your own transport means there are multiple ways and budgets to travel by.Facebook and other social platforms such as Telegram are commonly used means to interact with expats and for specific activity and parenting groups in Phnom Penh.We have spoken to so many expats who have left the city over recent years, and all we spoke to are unified in their fondness of Phnom Penh. The ease at which you can socialise, travel, dine, and enjoy life are clear to those who call the capital home.

Sihanoukville faced significant challenges in recent years due to the 2019 ban on online gambling and the pandemic, which led to the abandonment of nearly 400 construction projects by foreign investors. However, recent developments suggest positive signs for the coastal city.Recently, Deputy Governor Long Dimanche of Preah Sihanouk province revealed that the stalled buildings in Sihanoukville have attracted the attention of both local and international investors. The comprehensive package aims to address the crisis caused by abandoned construction and instils investment confidence and market demand in the coastal cityAccording to the Preak Sihanouk administration, many of the unfinished buildings were originally planned for accommodations and offices. Those buildings could be repurposed once agreements are reached between developers and landowners. Interest from investors displays positive signs of solving the stalled construction in the city.In addition, to bolster the city's tourism industry, two world-class hotels are set to open in Sihanoukville in the fourth quarter of 2023. It was recently reported that the Preah Sihanouk Administration met with the General Manager of Sofitel Phnom Penh Phokeetra and the future General Manager of Novotel. The addition of two world-class hotels expressing interest in investing signals a positive outlook for the city's hospitality sector. Such renowned hotels are important for tourism in the city as they provide high-quality accommodations and services, attracting a diverse range of travellers. These hotels enhance the city's hospitality infrastructure and aim to elevate Sihanoukville as a desirable destination. Currently, Sihanoukville is experiencing improvement with the recent inauguration of the Sihanoukville Tourism Port, which is expected to have a significant impact on the city's tourism industry. The port will facilitate daily shuttle ferries to numerous islands, including renowned ones like Koh Rong and Koh Rong Sanloem, capable of accommodating up to 20 small and large tourist boats simultaneously. This facility will provide tourists with a convenient gateway to these islands, thereby attracting more visitors to the city.The completion of the Phnom Penh Sihanoukville Expressway has significantly improved accessibility for domestic tourists travelling from Phnom Penh to Sihanoukville. Reducing travel time from six to just 2.5 hours has made Sihanoukville a more appealing destination for weekend getaways and short vacations. During the first weekend of July, several provinces in Cambodia witnessed a substantial influx of visitors, with approximately 61,380 individuals visiting Preah Sihanouk province, as reported by the Ministry of Tourism.Despite the challenges posed by abandoned constructions left by foreign investors in the aftermath of the online gambling ban and the pandemic, Sihanoukville is displaying signs of recovery. The government's measures, coupled with the interest of local and international investors, promise to regain Sihanoukville its status as a sought-after destination on Cambodia's coastline.If you are interested to see properties in Sihanoukville, click belowClick Here

Retiring in Cambodia is a discussion point that has been ongoing for decades, but does the Kingdom remain an attractive option for retirees? We re-look at some of the key themes to consider a permanent move to Cambodia as a retiree and what improvements or challenges have arisen in recent years.Safety, Stability & AffordabilityThe Australia-based Institute for Economics and Peace’s annual study, measuring a nation’s state of peace across societal safety and security, the extent of ongoing domestic and international conflict, and the degree of militarisation, in 2023 ranked Cambodia as 13th out of 19 countries in the Asia-Pacific region and 73 out of 163 countries.These reports always need to be consumed with a pinch of salt, but overall Cambodia is a relatively safe place to live. Crimewise it is predominantly opportunistic theft, or traffic accidents that are the biggest cause of concern for anyone from overseas living in the Kingdom.As a democracy, Cambodia is very stable and the current government has been in power for decades with a succession plan in play over the coming year to ensure continuity and stability for the economic development of the Southeast Asian country.If you are a fan of these types of reports, International Living publishes annual lists of the best places to live or retire, and named Cambodia the cheapest place to retire in 2019 - the fourth year in a row. They also provide a breakdown of expected monthly costs for living in a city like Phnom Penh (which they estimate to be around USD 1,200 per month). Popular retiree destinations such as Siem Reap or Kep and Kampot would be significantly more affordable.In their 2021 edition of the International Living’s Annual Global Retirement Index, Cambodia was one of the most affordable destinations to retire with Executive Editor Jennifer Stevens saying: “While people consider a retirement overseas for lots of reasons: the adventure, the chance to explore a new place and maybe learn a new language, the travel opportunities, and so on — the idea of lowering their cost of living while improving their quality of life plays an outsized role for many.”Meanwhile, the World Happiness Report 2023 (a publication of the Sustainable Development Solutions Network using Gallup World Poll data) ranked Cambodia 112th.Medical Care & InsuranceRegardless, for peace of mind and for the benefit of friends and family abroad, when you arrive in Cambodia, you should check if your country has an embassy or consular services and check if you can register for any reason.Globally, most do not prepare for the unexpected but in case of a medical emergency death or incident, you should have made arrangements so that your loved ones are aware of what to do and who to contact. Too often large bills can be racked up as no prior arrangements have been made - You should ensure your family is aware of your rental/home situation and have local emergency contacts.We definitely encourage everyone to have health insurance and a package that includes medivac to more renowned hospital care in nearby countries for emergencies. Many policies sold to expatriates cover medical evacuation to Bangkok or Singapore, with limits ranging from $500,000 to $1,000,000.The level of hospital and medical care is constantly improving in the country and one of the real benefits are the excellent and abundant Pharmaceuticals which are available over the counter without a prescription, often at extremely competitive prices to what one would find in developed countries. Avoid The Bustle - Siem Reap, Kampot, and KepLiving outside of the capital, even though Phnom Penh does offer more amenities and better standards of healthcare and retail therapy, for example, choosing to retire elsewhere may offer retirees in Cambodia some perks including less expenses.There is a slower pace to live along the coastal towns of Kep and Kampot and in the northwest in Siem Reap. They still have a good number of expats as well as their key services needed. Siem Reap in particular with the access to the current airport and the new airport (due to be operational in late 2023) and the ongoing feasibility studies into a modern expressway linking the very popular tourist town to the capital and even by rail all make it a convenient choice.Regardless, if you are looking to retire in one of the more well-known cities, transportation is very easy with the range of ride-hailing apps which can be a tuk tuk, or air-conditioned car. Owning Or Renting Property In Cambodia As A RetireeFor investors and foreigners, the country has been seen as a rising tiger economy due to its rapid economic development and its pathway to being a middle-income economy in the coming years. You can ask just about anyone who has been here 5-10-15 years and they will tell you all aspects from construction, infrastructure, technology, banking, and shopping have all improved and will continue to do so.If you want to retire in Cambodia, you are allowed to own property as a foreigner but mainly limited to a condo. Even renting is very affordable depending on what you need to be happy but buying as an investment is a popular choice for expats. By 2022, the average cost of a property in Phnom Penh was approximately US $114,164. There are also options to become Cambodian citizens through investment (which means no more visa renewal and opens up the legal option to buy and own land). The 'Cambodia My 2nd Home’ program is relatively new but another avenue you could explore, as it allows foreigners looking to invest in Cambodia to apply for the new 10-year (so-called golden) visa if you meet the requirements. Visa - Retirement in CambodiaOne of the reasons Cambodia is a smart retirement option is the ease of obtaining and renewing visas compared to many other ASEAN nations. If living in the region is the goal, Cambodia has relevant few hurdles for the correct legal visa and at a very competitive price.Anyone looking to legally retire as a foreigner in the Kingdom of Cambodia must enter the country on an E-type (Ordinary) Visa (which costs USD $35 on arrival) and is valid for one month. Since the start of the year this visa can also be applied for and obtained online in advance for most nationalities - although a small number of nationalities may have to provide supporting documentation.Before the visa expires, for someone who is intending to retire in Cambodia (not working at all as this will be illegal), an ER (Retirement) EOS (Extension Of Stay) can be applied for and be renewed indefinitely on an annual basis. There are some other details to be aware of:If the applicant is under 55, proof of early retirement and non-salary funds will need to be shown - such as proof of retirement/pension or sufficient funds.If aged 55 years and above, retirees can obtain an ER (Retirement) EOS via a visa agent without the need to provide supporting documentation.So whether it's the change of scenery, affordability, ease of living and relative freedom and enjoyment of living in Southeast Asia and in Cambodia in particular, the improving healthcare, easy ease of securing a legal visa, and ongoing development of the Kingdom, could make it an ideal and realistic retirement destination.

Phnom Penh, often referred to as the "Pearl of Asia," has emerged as a sought-after destination for travellers seeking unique experiences. With a surge in global interest and a wave of new developments, this city seamlessly blends tradition with modernity, catering to both visitors and residents.Tourists flock to Phnom Penh to explore iconic landmarks such as the Independence Monument and the Riverside, immersing themselves in the local market for an authentic experience. However, the city's appeal as a must-visit destination in Southeast Asia is steadily growing, thanks to the emergence of award-winning hotels and exceptional rooftop bars that serve as top-notch entertainment venues. These exciting developments have positioned Phnom Penh as an increasingly attractive destination in Southeast Asia.According to a research report by Explore Worldwide, a UK adventure travel company, Phnom Penh ranks fifth on the list of preferred destinations for solo travel worldwide. Over the past two years, the search volume for Phnom Penh has skyrocketed by an impressive 500%, indicating its growing popularity among travellers. Moreover, Phnom Penh is renowned for its diverse districts that cater to different interests and preferences.(Photo credit: Explore Worldwide)One of the most popular areas is Riverside (Sisowath Quay), situated along the Tonle Sap River. This neighbourhood offers a range of accommodations and is known for its lively street life, particularly at night with the Phnom Penh night market. Tourists enjoy strolls and explore attractions like the Royal Palace, National Museum, Phnom Penh Post Office building, and Wat Phnom. Additionally, the Riverside area provides boat rides offering excellent views of Cambodia's skyline from the Tonle Sap River, with prices ranging from $3 to $5.BKK1 is another favoured district in Phnom Penh, renowned for its upscale community and an abundance of cafes, shops, shopping malls, and restaurants. Food enthusiasts can enjoy a wide range of international cuisine, while the location itself attracts foreigners and young locals. BKK1 is an ideal place for cafe hopping and exploring shopping centres like Aeon Mall Phnom Penh and Chip Mong Noromall. In addition, the Independence Monument, symbolising Cambodia's sovereignty and independence from French colonial rule, is also a must-see attraction while in BKK. For solo travellers seeking an exciting nightlife experience, Bassac Lane, also known as Phnom Penh's "Bar Street," is a must-visit destination. Located in the Bassac River District, this famous street is hidden in the city centre and offers a wide array of eateries, bars, and pubs. Travellers can enjoy craft beers, dining, live music performances, and the opportunity to socialise and meet new people.When it comes to shopping and immersing in the bustling local market scene, Phnom Penh's wet markets such as Russian Market, Central Market, Orussey, and BKK Market are the go-to places. They offer a wide variety of handicrafts, souvenirs, clothing, and authentic local street food. Navigating through their narrow alleys, bargaining with friendly vendors, and sampling local snacks will provide an unforgettable experience.Phnom Penh also boasts several modern entertainment venues worth visiting. The city's rooftop bars, offering breathtaking views of the skyline, have become popular choices for tourists seeking a memorable experience.One recent highlight in Phnom Penh's tourism industry is the recognition of the Rosewood Hotel located in Vattanac Capital. The readers of Travel + Leisure, one of the oldest international travel magazines, voted Rosewood Phnom Penh as the Best City Hotel in Asia. The hotel's exceptional facilities, prime location, outstanding service, gastronomy, and great value have contributed to its success. Rosewood Hotel, which is also home to the Sora Sky bar, offers a unique venue to enjoy the city from high above. Located on the 37th floor, its standout feature is the outside terrace, providing breathtaking views over the capital city. Another popular rooftop bar is the Lantern Rooftop Bar, situated atop the fabulous Baitong Hotel & Resort Phnom Penh, also located in BKK1. The bar's chic and charming atmosphere, contemporary lounge vibe, and comfortable seating arrangements create a perfect setting for enjoying craft cocktails and bites while overlooking the high-rise buildings.(Photo credit: Sora Facebook Page)Excitement is on the horizon as IHG Hotels & Resorts prepares to make an impressive addition to Phnom Penh's entertainment scene with the introduction of the prestigious Vignette Collection brand at Odom Tower. Situated on Norodom Boulevard, the hotel will occupy the top seven floors of Odom Tower, a 45-story office building. It will feature two remarkable restaurants and a breathtaking rooftop bar will provide a stunning setting to enjoy panoramic views of the cityscape. This sophisticated venue is destined to become a popular gathering spot, offering a stunning view of the city and becoming a favoured destination for both visitors and residents alike. Whether you are looking to buy or rent property in Phnom Penh, we have more than 40,000 listings on our website! Free Consultation Here

Realestate.com.kh is bringing back its massively popular Home & Lifestyle EXPO 2023. The event which is just one month away will be happening on the weekend of August 12 & 13, at Koh Pich Exhibition Centre.The Home & Lifestyle EXPO is part of Realestate.com.kh's annual events, offering attendees the opportunity to secure the best deals within the Cambodian market and also have the chance to engage with industry-leading banks, insurance providers, and real estate experts. The biggest names in property development across Cambodia will be on display including Borey Peng Huoth, OCIC, Orkide Development, Prince Real Estate Group, Morgan Group, RoseMarvel Property Development, Borey Dragon Land 598, Borey Bosba, Rose Apple Square, Odom, Bakong Village, Borey Chankiri, Leedon Heights, Le Condé BKK1, Creed Cambodia and many more. International developers and real estate companies will also be exhibiting at the event presenting opportunities to investors in Cyprus, Canada and the USA.Click here to register for express entry or inquire about being an exhibitor Win Big At The Home & Lifestyle EXPO 2023Apart from securing the best deals in real estate and other mid to high-end items, attendees will go into the draw to win some of the best prizes, including watches from Watch Empire, fine jewellery and more. During the two-day event, property developers and exhibitors will be providing exclusive incentives, freebies and more discounts and exclusive prizes to attendees and buyers attending the show. When, Where and What Time? The Home & Lifestyle EXPO 2023 will be held at the Koh Pich Exhibition Center. The EXPO 2023 will be held on August 12 & 13, Saturday and Sunday from 10:00 am until 8:00 pm both days. The Home & Lifestyle Expo 2023, Above and Beyond Properties & Services and Fun for the Whole FamilyLast year's expo proved to be an incredible gathering that attracted families and participants of all ages. Parents, children, and the elderly came together to spend a memorable day immersed in the world of real estate and lifestyle. “Last year’s event was our first since the pandemic, and was a huge success, beyond our and the exhibitors’ expectations. There are already 5,000 attendees registered to attend, and based on that we expect to break last year's record of 12,000 people.”“Ultimately, our goal is to give home buyers and investors an opportunity to get the best deals in real estate, cars and other items of the year. By adding attractions, kids' play areas, cars, an extensive food & beverage area and more it allows us to not only put on the biggest and best property expo but also to create an experience where people and families can have a great day out together. ” Mr. Tom O'Sullivan, CEO of Realestate.com.kh said.Click here to register for express entry or inquire about being an exhibitor A Series of Record-Breaking SuccessesThe most recent Real Estate EXPO held at the Premier Centre Sen Sok Phnom Penh in 2022 was a major success that broke the country’s biggest property sales event ever in Cambodia with a whopping more than $30 million in sales and attracted over 12,000 visitors. Cambodia’s Leading Boreys, Condos, Banks, Lifestyle & Corporate brands The who's who of Cambodia's property market and ancillary services are already onboard with more coming as the EXPO 2023 on August 12 & 13 draw closer.Major sponsors & key supporters include: IAAC Airport advertising, COGETEL (ONLINE), NHAM24, Legend Cinema, Wowee Advertising, Poma Media, Watch Empire, Provida Water, Cambodian Investment Management, B2B Cambodia, and Gold Zone Media.Exhibitors include: Borey Peng Huoth: The Eco Collection, The Star Polaris 23 Condominium, PH Grand Hall, Orkide Development: Orkide The Botanic City, Orkide The Pochentong, Orkide The Royal Condominium, Prince Real Estate Group: Prince Central Plaza, Prince Happiness Plaza, One Tropica, Morgan Group: Morgan Tower, Morgan EnMaison, Morgan Champs-Elysees, Overseas Cambodian Investment Corporation (OCIC), RoseMarvel Property Development: Mean Chey Residences, Urban Living Solutions: Rose Apple Square, Odom, Bakong Village, Urbanland: Borey Chankiri, Borey Dragon Land 598, MSQM ZTH: Leedon Heights, Le Condé BKK1, Residence H Sen Sok, Creed Cambodia, Borey Bosba, Chroy Changva Satellite City, Borey Heng Heang, Borey New Hope, Tourism City, Borey Mongkul, KH Land, ABA Bank, Canadia Bank, Shinhan Bank,  KB DAEHAN SPECIALIZED BANK, GAC Motor, ISUZU, Forthing, STMarket, ARISTO Developers, DeGrand Realty, Borey Mongkul, Upward Property, FazWaz Cambodia, Parc 21 Residence, eMedia Links, Simplex, Stronghold Trustee, Orkun Solutions, Hitachi Elevator, MOVE By LM CAR, DreamsTown and more.Media partners include: Khmer Times, B2B Cambodia, AmCham, Cambodia Investment Review, Property Area Asia, Gold Zone Media, The Cambodia China Times, Enjoy Cambodia, Business Cambodia, FreshNews, Koh Santepheap Daily, Kampuchea Thmey Daily, ThmeyThmey, CNC, BTV, PNN, Hang Meas, CTV, TVK, CTN, Jianhua daily.Click here to register for express entry or inquire about being an exhibitor The Home & Lifestyle EXPO is part of a series conceived by Realestate.com.kh’s founder Moek Chenda and the company’s CEO Thomas O’Sullivan with the vision of creating an event where buyers can secure some of the best deals in real estate. The event is completely free to attend, and apart from surveying the property market families can enjoy a great day out by visiting some of the attractions such as the latest in property technology, car test drive areas and kids entertainment zone.

In property acquisition, it is crucial to carefully assess the current market conditions to identify a favourable time for purchase. It is commonly known that property prices fluctuate based on the balance between supply and demand. While the Cambodian real estate market is currently displaying indications of oversupply, this situation may present advantages for certain buyers, considering the accompanying side effects it involves. In this article, we will explain why an oversupply of properties may have positive effects on potential buyers. Post-Covid Recovery Before the COVID-19 pandemic, the Cambodian real estate market witnessed a boom, resulting in the construction of residential and commercial units almost weekly. During this period, properties like villas and condos in Phnom Penh and Sihanoukville were in high demand and quickly sold out. This surge in sales can be partly attributed to the influx of Chinese investors and individuals looking to relocate to Cambodia. However, in the aftermath of the pandemic, there has been a decline in the number of Chinese nationals coming to Cambodia due to concerns about the safety of Southeast Asia and the real estate situation in mainland China. Consequently, several properties now on the market are available for acquisition.Tourism To Boost Real EstateAccording to a recent report from the Ministry of Tourism, several provinces in Cambodia experienced a significant number of visitors during the weekend of July 6 to July 9, 2023. Preah Sihanouk province drew approximately 61,380 individuals, while Battambang province welcomed 34,080 tourists. Phnom Penh received a total of 32,727 tourists, and Kampot province saw 28,137 visitors during the same period. Siem Reap province attracted 20,268 people, and Kandal province recorded 20,541 tourists. The recovery in the tourism industry after the COVID-19 pandemic is a positive sign that adds to the appeal of investing in property in CambodiaIn the first half of this year, Cambodia experienced a remarkable surge in international tourism, with 2.57 million visitors arriving in the country. This surge not only signifies a growing interest in travelling to Cambodia but also hints at a potential rise in future visits.As a result, it is crucial to acknowledge the increasing demand for commercial activities and accommodations to cater to these visitors. For those with financial means and a long-term investment goal, this offers a chance to enter the real estate market during a period of property availability.Oversupply Also Means a Wider Choice of PropertyThe oversupply of properties in Cambodia has had an impact on property prices, as developers are now driven to offer more affordable options to attract buyers. This situation has resulted in a reduction in property prices, creating an opportune moment for buyers to acquire properties with great prices. The increased affordability factor further enhances the attractiveness of investing in Cambodian real estate, particularly for those seeking long-term investments.Moreover, the oversupply of units in Cambodia has led to a wide array of choices for potential buyers. With numerous projects available on the market, individuals now have the opportunity to explore different options and select the unit that best suits their preferences, requirements, and budget. This abundance of choices empowers buyers to find a property that perfectly aligns with their specific needs, thereby enhancing their overall buying experience.Good Location For Good Investment When purchasing property, location is one of the most important factors to ensure its return on investment. Currently, Phnom Penh's central BKK area remains a highly desirable destination for visitors and expats seeking accommodation. This district, known for its urban development, offers many venues, restaurants, and attractions, appealing to tourists and residents. The area continuously improves, enhancing the overall experience for travellers and visitors alike. Currently, BKK, Chamkarmon, and their surrounding areas are the top choices for local buyers and investors, due to the ongoing success of developments delivering on capital appreciation and rental returns, even in a down market. Major developers to build residential and commercial projects. For example, Global Titan Stone Real Estate Development recently unveiled Picasso 2 in BKK, and ULS marked the beginning of construction for ODOM.As the current market is experiencing an oversupply of properties, it is important to note that research and look for reputable developers and seek advice from professional real estate agents and advisors.Cambodia's open economy makes it an appealing destination for individuals seeking to explore or invest in the kingdom. As visitors and investors keep coming, the oversupply of properties presents an opportunity for investors, and will gradually diminish, as the market leads to a more balanced market where supply and demand are more closely aligned. Therefore, those considering buying property in Cambodia should keep in mind that the current oversupply is likely to be a phase, and the long-term prospects for the real estate market remain promising. If you're a newcomer to property investment in Cambodia or eager to make an informed decision, reach out to our real estate specialist today for a consultation on the Cambodian property market. At Realestate.com.kh, we offer current insights and help customers find their dream properties every day.Looking for a property in Phnom Penh today! Contact our real estate experts to explore the best options that suit your needs and budget via our concierge servicesFree Consultation Here

At the start of the year, we tried to share some insights into the key economic and infrastructure development projects in Cambodia which had and have a real chance of igniting the long-term economic growth as the nation puts the pandemic in its rearview mirror. We are now beyond the halfway point of 2023 so we have revisited these projects and their progress as well as identified newly announced projects in the first half of 2023.Cambodian Trade and Economic GrowthThe Asian Development Bank and National Bank of Cambodia (NBC) both now forecasts that Cambodia’s gross domestic product (GDP) will grow by 5.5 per cent in 2023, which could place the country among the top three performers in terms of GDP growth in Southeast Asia. Even the cynics are optimistic about stronger performances from 2023-2024 with 6.6 per cent GDP growth predicted by the Ministry of Economy and Finance.Coming into 2023 the hopes for economic trade growth were probably largely pinned on Regional Comprehensive Economic Partnership (RCEP). In the first four months of 2023, Cambodian exports to RCEP countries did rise by 16 per cent. The Cambodia-Korea Free Trade Agreement (CKFTA) also came into effect in December 2022 and the addition of new FTAs (Free Trade Agreements) and with the important signing of the comprehensive economic partnership agreement (CEPA) with UAE, Cambodia is planting the right seeds for the future.This has been buoyed by clearer government-led strategic plans on logistics and modernising all logistics routes (land, sea, and air) with investments both local and foreign to try and transform the Kingdom to be a competitive trade and logistics hub.Cambodia’s economy is still reliant on the export of garments, tourism, agriculture and real estate and construction.The Cambodia Securities Exchange (CSX) is growing albeit slowly but H.E. Hong Sok Hour (CEO of the Cambodia Securities Exchange) is confident and with their aims this year to list more firms, double daily trading volumes to $1 million and triple the number of registered trading accounts to 15,000, Hour said that the average trading account is expected to increase by the end of 2023.The global fears of recession and inflation (throw in the ongoing Ukraine conflict, the energy crisis in Europe, and what has to date been an underwhelming Chinese economic recovery) have all dampened growth but Cambodia remains well-placed to see one of the fastest GDP recoveries.Cambodian Airport Developments & Rebounding Tourism & FlightsThong Khon, Cambodian Minister of Tourism (MoT) expects the Kingdom to attract 4.5 million international tourists in 2023 and is hopeful that this figure will reach over seven million tourists by 2025-2026. The official figure for visiting international tourists for the first half of 2023 was 2.57 million, the MoT confirmed. This period does include the SEA Games & ASEAN Para Games which helped spike inbound tourism numbers, nevertheless, the Kingdom is still on track to reach the MoT expectations. These goals are also only possible by the renewal of affordable and frequent flights, and to date, more flights have been announced with several international airlines scheduling the return of routes in the second half of the year too. So far in 2023, approximately 910,000 foreign tourists visited Cambodia by air, 1.63 million by land, and 30,000 by waterways.Announced in 2022, the launch of Air Asia Cambodia operations is apparently still on track for the backend of 2023 while multiple new flight routes are under constant discussion with key destinations such as India, Japan, the Gulf and elsewhere.In terms of the progress of the multiple new Cambodia airports under development, this is the latest by July 2023:Techo Takhmao International Airport - Construction is underway and the first phase is targeted to be operational by March 2025.(New) Rail Link to new Phnom Penh Airport - The Minister of Public Works and Transport (MPWT) announced in July 2023 that they are exploring an underground light rail transit to connect the airport to the southern part of the capital.Angkor Siem Reap International Airport - Due to be operational before the end of the year, a provisional official inauguration date was set for October 2023. The airport was 98 per cent complete by the end of June 2023.Koh Rong International Ecotourism Airport - Announced at the start of 2023 there has been hardly any news since.Dara Sakor International Airport - Delayed in 2022 and delayed again in 2023, the latest news in June suggested the developers had not completed construction to meet standards of aviation safety, according to the State Secretariat of Civil Aviation.A Resurgent Sihanoukville?Coming into the year, there still seemed to be some scepticism about how the coastal Cambodian city could be rejuvenated and the plans were still in development for transforming the Preah Sihanouk province into a model multi-purpose special economic zone. This is intended to form a key cog of the roadmap to develop the area into as part of the National Industrial Development Policy 2015-2025.Although the exact roadmap is not crystal clear, projects such as the Bay of Lights by Canopy Sands Development (which was also showcased in the Middle East this year), and the announcement of plans to tackle the unfinished buildings were laid out in 2023 - but if successful, the project will take several years to complete.2023 Cambodian Infrastructure Projects SnapshotThe ongoing infrastructure investments from the Cambian government in addition to private-public investments are one of the main reasons there is an optimistic mood for the future.Koh Pich-Koh Norea bridge - Construction has reached 85 per cent and the bridge is expected to be completed in November 2023 (Updated in July 2023).Korea-Cambodia Friendship Bridge - Final assessments were completed in 2022 and the expectation was for the construction to start in the second half of 2023 but there has been no official update for many months.Phnom Penh-Bavet Expressway - Construction officially got underway on June 7th 2023 and the second groundbreaking freeway won't be completed until 2027.Phnom Penh-Siem Reap Expressway - A feasibility study is underway, due to be completed in 2023.Phnom Penh-Poipet Express Railway - Study completed to increase the speed to approximately 160 km per hour.Phnom Penh to Preah Sihanouk Railway - Study is underway to upgrade this line.Kampot International Tourism Port - Although reported as completed in 2022, by July 2023 there is still a need to deepen the port’s waterway before it can be operational.Kampot International Port & Logistics Centre - Construction got underway in 2022 and the port’s first phase operations are due in 2025.Funan Techo Canal - Rumoured at the start of 2023 and finally confirmed with its name, this is a game changer for interconnectivity or the transportation of goods and to decrease costs. Launched in 2023 and not due to be completed by 2027.Sihanoukville Autonomous Port (PAS) - Long delayed but the Japanese-financed Sihanoukville container terminal expansion got underway in May 2023.Koh Kong Province’s International Seaport - due to be launched in the second half of 2023.Real Estate in Cambodia OutlookThe year has been challenging but there are green shoots for the property and construction sector. There is a sentiment that buyers and interested investors are being spread across more countries, and we think diversification is great.In June 2023, the Ministry of Land Management, Urban Planning and Construction reported that Cambodia's construction sector attracted investment worth USD $2.27 billion in the first five months of 2023, a year-on-year increase of 138 per cent. The retail and commercial property sectors are under some pressure, as are condos due to the impressions of oversupply. However, the key investment traits of anticipated growth due to the country's young population and increasing urbanisation, and the positive view of Cambodia as an investment destination continue to provide optimism for the long-term.

The inauguration of the Sihanoukville Tourism Port is expected to have a positive impact on the tourism industry in the coastal city. The port, officially launched on 6th July, can accommodate up to 20 small and large tourist boats simultaneously. Covering an expansive area of approximately 22,000 square meters, the port has been granted investment rights to GTVC Import Export, which also provides daily shuttle ferries from Sihanoukville to various beaches in the area. This spacious facility offers tourists a convenient gateway to popular islands Koh Rong and Koh Rong Sanloem.The increase in tourism could potentially stimulate the real estate sector as developers seize opportunities to construct hotels, resorts, and other accommodation options to cater to the growing number of visitors. Furthermore, the rise in tourist arrivals is expected to drive the growth of commercial activities, including new cafes, restaurants, souvenir shops, and other retail establishments that cater to the expanding tourist market.A significant factor contributing to the anticipated growth in tourist numbers is the completion of the expressway to Sihanoukville in October 2022. The newly constructed expressway has considerably reduced travel time by half. Previously, visitors had to endure an approximate five to six hours journey, but now, with improved connectivity, tourists can reach the city faster and more conveniently. The expressway not only enhances accessibility for domestic and international travellers but also establishes a more efficient transportation infrastructure for the region.With improved connectivity provided by the expressway last year, Sihanoukville is poised to become a prominent tourist destination and transform into a tourism hub. The city's potential for growth is substantial, presenting an opportunity for investors and entrepreneurs to capitalise on the increasing demand.If you are interested to see properties in Sihanoukville, click belowClick Here

A groundbreaking ceremony was recently held to mark the commencement of a noteworthy construction and development project in Daun Penh. The project, by EDCPO (Cambodia), a local developer, involves the establishment of an underground car park, shopping mall, restaurant, and various other services within a public park near the old market in Wat Phnom. The government has approved the investment in this mixed-use commercial within the Daun Penh district.The primary objective is to address the issue of limited public parking spaces in the city while simultaneously creating new avenues for business growth. The approved plan encompasses the construction of a four-story building spanning an impressive area of 33,120 square meters. Two of these floors will be thoughtfully designated for parking, providing ample room to accommodate 516 vehicles, while the remaining two floors will be occupied by a supermarket and restaurants.Daun Penh has emerged as a prominent junction and a thriving residential-commercial hub at the heart of Phnom Penh. The district experiences a constant stream of traffic encompassing diverse sectors such as banking, finance, modern trade services, warehousing, product distribution, and multi-faceted trading. These dynamic activities have contributed to the city's overall liveliness. Consequently, the construction of public parking facilities, along with complementary commercial development, is deemed a favourable solution for mitigating traffic congestion and supporting Phnom Penh's growth.Overall, this project is set to contribute significantly to the growth and development of the Daun Penh district, further establishing it as a commercial and residential hub within Phnom Penh.  If you are interested to see properties in Daun Penh, click here  Click Here

With the trend of multiple new shopping mall projects being launched across Phnom Penh as well as some developers targeting other cities such as Sihanoukville, there are increased options for retailers and shoppers in Cambodia.There does remain the genuine concern of oversupply in the retail space with so many malls entering the market and we have previously heard insights from local experts such as The Mall Company (TMC) on the need for diversification in the shopping experiences.For franchises and retailers, tenants have increased options and choices in lease terms and even condition negotiations as malls compete to attract tenants within a competitive market.Community Malls have been a popular retail class with many developers and other smaller affordable retail podiums and arcades are also popping up in new targeted development areas. The latest TMC report indicated:32 community malls currently contribute nearly 200,000 sq.m (Net Leasable Area) of modern retail space in Phnom Penh.More than 200,000 sqm (NLA) is also in the pipeline.We look at just some of the new retail and mall spaces that are due to open in Phnom Penh and one location in Sihanoukville - the jury will be out on whether the designer and developers fully appreciate retailtainment and the shopper's experience when these are all launched. Koh Norea ParkwayKoh Norea Parkway is a development from OCIC and essentially is a developed public space with retail units available along the river banks in Koh Norea, which OCIC are developing as part of a massive USD $2.5 billion project.The Koh Norea Parkway will see Chbar Ampov get a riverside boardwalk which should benefit the community and visitors as open public spaces remain a rarity in Phnom Penh. We also saw the Ground Market open in Koh Norea earlier in 2023. The OCIC retail project will include 20 outlets (which vary between 40/120/150 sqm) along the Mekong’s river bank which stretches for 4.2 kilometres. OCIC says the retail space is inspired by nature and will blend with the backdrop of the river and artist impressions indicate there will be greenspaces, water features, as well as picturesque photo opportunities.So what's in store for the shopper and diner? Among the potential outlets will be craft beer & seafood, barbeques, a bakery, drink and cafe outlets, souvenir stores and more with details to be confirmed. The retail shops and landscaping have been completed but they plan to open Koh Norea Parkway to coincide with the official opening of the $40 million bridge.The soon-to-be-completed bridge linking Koh Pich to Koh Norea is expected to be ready by December 2023 offering easier connectivity for those living in the area and for visitors.Due: Q4 2023Area: Chbar Ampov - Koh Norea Development, Phnom PenhSokha Plaza MallAnother new commercial retail mall, Sokha Plaza Mall, is situated in Daun Penh and close to the National Museum, The Cambodian Royal Palace, schools, hotels, and within walking distance to popular tourist attractions near the Phnom Penh riverside. Sokha Plaza Mall aims to offer a community space for families and friends and be a destination for meals, shopping, and entertainment through its 44 shop units covering a total of 2,000 sqm. There will be parking for 149 cars as well as 212 motorbikes.The area is immediately surrounded by a busy residential neighbourhood and offices near the mall in the heart of central Phnom Penh and opposite the iconic Wat Ounalom.In addition, the Sokha Group plans to move their businesses which include Sokha Real Estate and Sokimex to the Sokha Plaza which will further increase trade and foot traffic to retailers.The design of the mall includes a large open space (plaza) which can be used for hosting events.Due: Q3/4 2023Area: Daun Penh (intersection of Streets 13 and 154), Phnom PenhSakura Avenue Another OCIC project is located in Chroy Changvar - the small lifestyle & community food and beverage Sakura Mall forms part of their Chroy Changvar Satellite City project in the area to the northeast of the capital of Phnom Penh.The community mall covers 7,947 sqm (gross floor area) and there are car parking spaces for 150 vehicles as well as 200 motorbikes (motos).The retail space can accommodate just over 30 outlets and includes some popular and well-known franchises such as Starbucks, Park Cafe, Amazon, and Bonchon but the Sakura Avenue is currently only 50 per cent occupied.The mall’s design is inspired by the Sakura tree and the location was “established to bring together business people who are interested in providing food services together to national and international guests”, says OCIC.Chroy Changvar has become increasingly popular among both local residents and expatriates and the area boasts a range of amenities, including schools, hospitals, shopping centres, and recreational facilities.Due: Currently OpenArea: Chroy Changvar, Phnom PenhMean Chey Avenue Community MallMean Chey Avenue Community Mall is designed as a lifestyle destination and offers retail, leisure, and entertainment. Situated along the popular and competitive Samdech Techo Hun Sen Boulevard (60m Avenue) - it's currently one of the larger community malls in the area. The mall is around 70 per cent complete, according to the developers, but has confirmed Tube Coffee and Brown Cafe as lessees with more coming to occupy the nearly 13,000 sqm of retail space and 55 retail units available. Entertainment, food and beverage, a supermarket and other service and retail stores are being targeted. There are more than 1,000 parking spaces for cars and motos available at the community mall but there are also green spaces and a children's playground to cater for customers, families and visitors.Meanchey is seeing massive changes and is one of the fastest growing areas in the Cambodian capital - over the past year it has seen the opening of AEON Mean Chey (AEON 3) and the new Chip Mong 271 Mega Mall while other malls include the 60 Avenue Shopping Mall & Water Front Community Mall (under development).AEON Meanchey and Chip Mong 271 together supplied the market with 140,000 sqm NLA in 2022 which represented 57% of the total retail NLA supply!Due: Q4 2023Area: Samdech Techo Hun Sen Boulevard (60m Avenue)SIhanoukville - DRF-Mart New MallAlthough currently with no official name, a new mall was approved and announced by the Council for the Development of Cambodia (CDC) in June 2023 for DRF-Mart Fa Dao Jia Trading Co., Ltd. to develop a USD $14 million mall in Village 4, Sangkat 4, Sihanoukville. The project would create 227 job opportunities but little has been announced aside from the inclusion of DRF-MART supermarket and that the developers want the space to “provide world-class shopping experiences and meet the evolving needs of consumers in Sihanoukville and beyond.”We will have to watch this space for more information but currently there are surprisingly few shopping malls in the Cambodian coastal city which has undergone massive changes over the past decade.Due: TBCArea: SihanoukvilleThe previous TMC Retail Insights report suggested 9 modern retail centres are expected to be completed by 2024, with a further 72 Retail Centres by 2026, even with tourism numbers expected to rebound to pre-COVID levels by then (nearly doubling the current 4 million), it still represents a massive supply of retail space entering the Cambodian market. Now we will have to see if the uptake and demand is there from the consumer and retailers.

The real estate industry plays a vital role in the global market, and understanding the latest trends within this sector is crucial for investors and homeowners alike to make informed choices. Real estate trends have far-reaching implications for economic growth, reflecting changing demographics and shifting consumer preferences. One prominent trend in recent years has been the growing demand for green spaces in both residential and commercial properties. As people become more aware of the importance of the environment in their well-being, the demand for eco-friendly buildings, green infrastructure, and access to nature has steadily increased. This shift in preference highlights buyers' changing behaviour when purchasing property, and Cambodia is no exception.The Importance of Green SpacesThe significance of green spaces lies not only in their aesthetic appeal but also in their ability to enhance the well-being of residents, mitigate the effects of climate change, and promote sustainable living. Developers are increasingly incorporating parks, gardens, rooftop greenery, and other natural elements into their designs, fostering a relationship between nature and urban infrastructure. Furthermore, environmentally friendly designs, such as energy-efficient buildings, renewable energy systems, and sustainable materials, have become crucial in reducing carbon footprints and achieving long-term sustainability goals. The importance of green spaces and environmentally friendly designs in real estate reflects a global shift towards a greener and more sustainable future.Cambodia's Real Estate Market and Green Space Challenges(Picture Credit: OCIC Facebook Page)In recent years, Cambodia's real estate market has experienced significant growth and development, making it an attractive destination for both local and foreign investors. Major cities like Phnom Penh, Siem Reap, and Sihanoukville have witnessed remarkable transformations through the construction of high-rise buildings, commercial complexes, and residential projects. However, rapid urbanisation and population growth have also led to the reduction of open green areas, posing significant challenges in urban planning and green space development. Nonetheless, some developers have started to embrace the trend of creating green alternatives, incorporating community-focused spaces and large areas of greenery. Examples include the ODOM Tower, offering over 7,000 square meters of green space open to the public, the OCIC's efforts in enhancing green spaces with projects like Coconut Park and Norea City, and the quality mixed-development Angkor Grace in Siem Reap, offering a resort-like lifestyle. Opportunities for Real Estate Developers and InvestorsCambodia presents opportunities for real estate developers and investors, particularly those seeking long-term investments. As the country recovers from the pandemic, positive signs are emerging, with the tourism sector thriving and Cambodia gaining popularity on the global map as a destination in Southeast Asia. The projected number of international tourists for this year stands at 4.5 million, as reported by the Ministry of Tourism. As Cambodia aims to become a high-middle-class country by 2030, there is a potential to attract a more demanding audience looking for modern, well-designed commercial and residential properties, as well as greener spaces. This presents a lucrative market for developers and investors who can cater to the evolving needs of the emerging middle class and both local and international tenants. With the right strategies and foresight, real estate ventures in Cambodia hold great potential for long-term success. If you are looking to visit a property in Phnom Penh, try our free concierge service hereClick Here

Global Titan Stone Real Estate Development recently unveiled Picasso 2 with the appearance of branded hoarding on the prime corner of Street 57 and Street 282, as well as on their Facebook page. Following the remarkable success of Picasso 1 City Garden in BKK 1, their first large condo development comprised 30 storeys, which achieved significant sales and was completely sold out within a few months of its launch. The success of Picasso (1) City Garden can be attributed to several factors. Firstly, the developer, Global Titan Stone Real Estate Development, is a well-experienced and reputable company known for delivering high-quality projects. Their commitment to completing Picasso City Garden during the pandemic contributed to the favourable reception and popularity of the project among buyers.Another key aspect that contributed to the success of Picasso (1) City Garden is its high return on investment. The project proved to be a lucrative asset for investors looking for profitable opportunities, with potential for capital appreciation and rental yield due to the high demand in the area. One-bedroom units with a size of 45 sqm start with a rental price ranging between $1,250 per month to $1,450 per month, offering an attractive 8% expected rental return. The combination of a well-constructed development in an ideal location increases the potential for a substantial return on investment, making Picasso City Garden an appealing choice for discerning buyers.(Picture credit: Picasso City Garden Facebook)As mentioned earlier, the location of the real estate development also played a significant role in its success. Picasso (1) City Garden is situated in the BKK1 district, in close proximity to other condominium projects, five-star hotels, shopping centres, and commercial and business hubs. Besides being a residential project, it also functions as an international business complex. The 27-floor building integrates various amenities and facilities, including the Picasso garden, banquet hall, landscape fountain, infinity pool, paddling pool, gymnasium, meeting room, international business office, wine lounge, Casa Picasso restaurant, Casa Picasso café, and Picasso art auction centre. The combination of all these features aims to provide residents and visitors with a unique and enhanced living experience.Picasso 2 is also located in the surrounding neighbourhood of BKK1 and remains a highly sought-after location by ex-pats, locals, and tourists visiting the Kingdom, as it offers convenient access to various amenities and business opportunities.With the success of Picasso (1) City Garden, Global Titan Stone Real Estate Development sets a promising foundation for Picasso 2, which is poised to become another landmark in the high-rise real estate landscape. Drawing from the developer's track record, buyers can anticipate top-class amenities, generous public spaces, and a high standard of property management.Curious to see Picasso City Garden listings? Click here to explore the available options and find your perfect living space in the heart of Phnom Penh.Click Here

Phnom Penh is drawing in an increasing number of domestic and international individuals to its capital city each year. With rapid urbanisation attracting more Cambodians to the city for education and job-related opportunities, it has been converting into a main economic and cultural hub. Phnom Penh has become a focal point for investors interested in the real estate market. Realestate.com.kh closely analysed its current rental market in Phnom Penh, based on the overall leasing in the first half of this year.The three most sought-after areas are BKK District, Tuol Kork District, and Chamkarmon.BKK District is still the ideal location for property seekers when looking for a rental.  Situated in the heart of the city, the district bustles with commercial activity, boasting a wide array of shops, restaurants, and entertainment venues that attract a diverse population of young individuals and foreigners.Tuol Kork District is a prestigious residential area located to the west and northwest of the centre of Phnom Penh. It is highly sought by families due to its proximity to educational institutions and retail areas. Tuol Kork is well known for its large number of villas and an increasingly growing number of boreys. Chamkarmon is a large district located to the south of central Phnom Penh. It is experiencing rapid development and offers modern residential and commercial facilities, making it an increasingly popular choice for renters. In particular, Tonle Bassac and Toul Tum Poung (known more commonly as Russian Market) are very popular with ex-pats, whereas Boeung Trabek and Phsar Doeum Thkov are still more Cambodian-centric. When it comes to housing options, apartments and villas dominate as the preferred choices for tenants. Here's a breakdown of the rental prices for most properties in the three major rental areas:Apartments:BKK District: Starting from $750 per month Tuol Kork District: Starting from $500 per monthChamkarmon: Starting from $500 per monthVilla: BKK District: Starting from $3500 per monthTuol Kork District: Starting from $2000 per monthChamkarmon: Starting from $2500 per monthDespite an oversupply in the real estate industry in Cambodia, there has been a notable upward trend in rental transaction volume on Realestate.com.kh. A comparison between the same period from January-June 2022 to January-June 2023 reveals a steady increase, indicating a positive trajectory in the first half of this year.In terms of rental demand, one-bedroom and two-bedroom units are the most common choices. One-bedroom units cater to the housing needs of single tenants or couples, while two-bedroom units are preferred by those with stronger financial capabilities, often utilising the additional room as a home office. Long-term leases, spanning six months or more, are favoured by the majority of tenants. Such arrangements provide a stable living environment and also cost savings and hassle-free relocation.Key Factors When Choosing A Property When tenants are choosing a rental property, they carefully consider multiple factors. The location of the property plays a vital role, with a preference for areas that offer convenient transportation options and a wide range of amenities. In addition, tenants place importance on the quality of facilities and interior design, often seeking modern furnished properties. The affordability of the rent also has a significant impact on their decision-making process, as they strive to find a suitable residence that fits within their budget.Moreover, the surrounding community and environment also influence tenants' choices. They seek out peaceful locations that are free from disruptive noise caused by neighbouring renovations. Other factors taken into account include pet-friendly policies, the availability of free parking, the standards of property management, the size of the property, internet speed, and proximity to schools. All of these considerations contribute to the final decisions made by tenants when selecting a rental property.As Cambodia sets its sights on becoming a high-middle-income country by 2030, it has the potential to attract tenants with more demands, therefore understanding their needs is essential for successfully leasing a property. If you are looking to visit a property in Phnom Penh, try our free concierge service Click Here

Cambodia and the United Arab Emirates recently signed a comprehensive economic partnership agreement (CEPA) which will assess opportunities in trade, investment, connectivity, energy, agriculture and logistics among others and both parties are confident that the agreement will increase bilateral ties and trade.Cambodia’s Minister of Commerce Prak Sokhonn and UAE Minister of State for Foreign Trade His Excellency Dr Thani bin Ahmed Al Zeyoudi signed the agreement which was witnessed by Cambodia’s Prime Minister Hun Sen. These new trade and economic agreements are important for the Kingdom as the country needs to continue its diversification of economic partners and avenues for investment. This is crucial not only for the growth of the four current economic pillars of tourism, agriculture, construction and manufacturing/garments but for tapping into technological and trade partners who can help Cambodia implement its ambitious broad digital policies and technology frameworks and open up new investment corridors.Diversification of Trade and InvestorsUndoubtedly, China’s investment has greatly contributed to the socio-economic development in Cambodia but for the Kingdom to thrive it needs to increase tapping into new trading partners and attract FDI from new sources without burning bridges with existing partnerships.A snapshot of selected data in 2023 suggests some areas for concern despite the overall optimistic GDP and economic growth for Cambodia this year and in the future. While 2023 GDP predictions have been revised down slightly, they are still double those of global predictions as potential recession fears remain in the US, Europe and China.Comprehensive Economic Partnership Agreement - Cambodia & UAEAl Zeyoudi said the agreement with Cambodia marked a new milestone in their foreign trade and strengthened their growing role in the east-west trade corridor - the UAE plans to expand into the growing economies of Southeast Asia. Currently, the UAE invests USD $3+ million in Cambodia, while the Kingdom invests approximately USD $1 million in direct foreign investment in the UAE.The CEPA agreement aims to more than double non-oil bilateral trade between Cambodia and the UAE by 2031.CEPA hopes to boost trade from USD $407 million in 2022 to $1 billion, said UAE’s Economy Ministry.Metals and minerals are projected to account for 73% of UAE exports by 2030 and the UAE is one of Cambodia’s top trading partners in the Arab world, accounting for 70% of its trade with the region in 2022.Bilateral trade should see an increase of exports to the UAE from Cambodia for grains, fruits, meats, clothing and leather goods while imports from the UAE will include machinery, oil and lubricants among others as the pair look to facilitate investments, open market access to services exports, and create more opportunities for businesses to forge partnerships.Once ratified, the UAE-Cambodia CEPA is expected to be enacted before Q4 2023, so what opportunities will we potentially see?Property Developments Canopy Sands Development, the master developer of the massive coastal project in Cambodia, showcased its 934-hectare development, the Bay of Lights, at the Annual Investment Meeting (AIM) 2023 Congress in Abu Dhabi in May which saw 10,000 participants from 175 countries.Canopy Sands Development's mission is to attract global capital flows and global financial institutions to Cambodia. The Bay of Lights development partner is Prince Real Estate Group and its CEO Edward Lee said that Cambodia, located where it is within Indochina geopolitically and as an emerging economy, stands out as one of the most open and investor-friendly nations.“However, Cambodia needs to start being more proactive in reaching out to new markets such as Indonesia, Malaysia, and the Gulf Cooperation Council and connect with investors, businesses and tourists to promote, educate and attract them to come to Cambodia to study and consider the Kingdom as a platform to enter the regional market. The current regulations which allow for foreign investment and ease of doing business in Cambodia are excellent for new investors in the region”, added Lee.Tom O'Sullivan, CEO of Realestate.com.kh,also joined Prince Real Estate (Cambodia) Group Co., Ltd. and Belt Road Capital Management to promote Cambodia as the next investment hub in Southeast Asia. The GCC is a regional union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Lee said: 'The Gulf Cooperation Council businesses can use Cambodia as a platform to reach regional business and new markets and this will hopefully help to spur on new dynamic growth.’Customs and Market AccessDubai Customs announced changes to customs policies following trade deals between the UAE and a number of nations which include Cambodia. The Gulf state with India, Israel, Indonesia, and Turkey has also signed other agreements.The customs authority has established “specialised customs centres and departments to ensure smooth flow of goods and services,” Gulf Business reported. The changes implemented will support CEPA in reducing or removing tariffs, "eliminating barriers to trade, and creating new avenues for strategic investment”.CEPA also guarantees improved access for UAE products to the Cambodian market and covers 92% of customs tariff lines and over 93% of the value of non-oil trade.Al Zeyoudi wrote recently; “In practice, this means Cambodia’s manufacturing sector can leverage the UAE’s unrivalled global connectivity and world-class logistics infrastructure to seamlessly serve new markets – not only in the Middle East but into Africa and Europe.” New Property BuyersAlthough not specific to the GCC, a recent report suggested that the return of foreign visitors has accelerated demand for rental housing. In Sihanoukville for example, this has led to increased rental costs and Chinese investors are major players in the Preah Sihanouk real estate market - which was the case pre-pandemic.Interestingly, the Ministry of Tourism also claims that Indonesians have seen the biggest rise in “business” travel to Cambodia, rising from nearly 6,000 in Q1 2019 to 23,000 in the same period of 2023. Thais meanwhile, comprise the largest number of visitors to Cambodia in 2023 - so developers need to be aware of the audiences they are targeting.Inbound Travellers and TourismThe UAE had also announced that it is looking into the potential of tourism investment opportunities in Cambodia and AI Zeyoudi agreed that Cambodia was undergoing rapid development in all sectors.Thong Khon, Cambodian Minister of Tourism confirmed that Cambodia expects 4.5 million international tourists in 2023 with more than 2 million confirmed in the first five months so far. The Ministry is hopeful that this figure will reach over seven million tourists by 2026. Al Zeyoudi added that tourism is a high-potential sector and that their hospitality expertise and development knowledge will assist in reviving the sector with new experiences and offerings.” Mastercard Economics Institute’s Travel Industry Trends 2023 also suggests that new experiences are in demand among travellers post-pandemic.Finally, with the Paris Air Show this past week, one of the world’s newest airlines, Saudi Arabia’s Riyadh Air, made its international debut. With new airports and routes a priority for Cambodia, the airline will launch its first commercial services in early 2025 so this could be an interesting development for Cambodia - especially as the airline has the support of the Saudi government’s $650 billion Public Investment Fund (PIF).In addition, IndiGo, the Indian low-cost carrier announced an order of 500 Airbus A320 - the largest aircraft order in history, while 470 aircraft were ordered by Air India earlier this year. India is another vital market that the Cambodian government and businesses are actively pursuing and something which the Asian Development Bank in its report, “Southeast Asia’s Aviation Sector: Post-Pandemic Strategies and the Implications of a Rapid Recovery” urged for Cambodia as it taps into new markets including Japan, and the Republic of Korea.There are several concurrent exciting developments in the works and with the potential of new embassies and trade globally, Cambodia is forging partnerships for long-term economic growth.

The Real Estate and Mortgage Regulator (NRPC) in Phnom Penh has recently made an announcement regarding several housing development projects. The NRPC has identified four Boreys operating without the necessary licenses, putting potential buyers and renters at risk. This article highlights the importance of verifying key aspects before engaging with developers and offers recommendations for protecting one's interests.The following Boreys have been identified by the NRPC as operating without licenses:Borey TV Star in Sangkat Prey Sor, Khan Dangkor, Phnom PenhBorey Try Kim Kour Srov in Sangkat Prek Kampus, Khan Dangkor, Phnom PenhConstruction of LV apartment in Sangkat Choam Chao, Khan Por Sen Chey, Phnom PenhBorey THE ROYAL GARDEN in Sangkat Kraing Thnong, Khan Sen Sok, Phnom PenhIn response to these unlicensed housing projects, the Real Estate and Mortgage Regulator has issued a warning to the public. Potential buyers, sellers, and renters are urged to exercise caution and be vigilant when dealing with these developments. Failure to obtain the necessary licenses raises concerns about the legality, quality, and overall security of the properties involved.To protect oneself from potential disputes and fraudulent activities, it is essential to conduct thorough investigations and verification before engaging with any developers. The following checklist outlines key aspects that should be confirmed prior to buying a property: Verify Ownership (a.k.a Title)Ensure that the property of interest is legally owned by the seller or developer. Request the official document, known as the title or deed, which confirms ownership, location, and rights associated with the property. To understand more about the property title read our extensive guide hereDevelopment Company RegistrationVerify that the development company has registered with the relevant ministries and obtained the necessary approvals before commencing construction. Request to see their company registration documents as proof of their legality.Master PlanA well-thought-out master plan is crucial for any new development project. Developers should present a detailed plan to the ministry, demonstrating the project's potential for success in the future.Construction LicenseCheck if the company responsible for construction has undergone a thorough background check by the Ministry of Land Management. Only registered construction companies are permitted to build units and infrastructure, and they should possess a valid construction license.Sales LicenseApart from the construction license, a sales license is equally crucial for property purchases. This license grants developers the legal authority to sell properties to prospective buyers. Ensure that the developers have obtained the necessary approvals to market and sell the property.Review AgreementsThoroughly review all contracts and agreements related to the property transaction, including the sales and purchase agreement (SPA), lease agreement, and any other legal documents. Understand all terms and conditions, payment schedules, transfer of ownership details, and any relevant clauses. If you are looking for reliable real estate agents in Cambodia, reach out through our concierge service for free Click Here

Kep Province, once known as a tranquil coastal retreat, is now experiencing a transformation with four major development projects that are reshaping its landscape and attracting visitors from far and wide. These projects promise to revitalise the province and establish it as another touristic destination in Cambodia. Rabbit Island New Port One of the significant projects that are set to change the face of Kep is the Rabbit Island New Port. Completed on 19th January 2022, this tourist pier replaces the old one at $1.2 million. Stretching 306 metres long and 68 metres wide, the new pier extends from the coast into the sea with a water depth ranging from 3 to 4.70 metres. It can accommodate boats carrying 200 to 300 tourists, opening up opportunities for more visitors from neighbouring countries to explore Kep Province. This development is expected to generate economic benefits and contribute to the growth of the local economy.New Landfill SiteIn a bid to address waste management and promote environmental sustainability, a new landfill site has been established in Kep. Officially inaugurated on the 30th of May 2023, this landfill project was made possible through the Asian Development Bank's Greater Mekong Subregion Tourism Infrastructure Development Project Phase II, with an approved budget of approximately $30 million. Spanning an area of 14 hectares, the landfill caters to the waste disposal needs of Kep City's residents as well as tourism-related establishments, including restaurants, hotels, guesthouses, and markets. This initiative will improve the overall cleanliness and hygiene of the area. New Beach Development ProjectTo provide an enhanced beach experience for visitors, a new beach development project has been undertaken. The original beach, which was only 350 metres long and often overcrowded, is being expanded into a 2700-metre public beach. Stretching from the Crab Market to the mangrove area, this beach project is part of the government's vision to transform Kep Province into a premier tourist resort. By focusing on the development of the city, beaches, islands, markets, ports, tourist areas, residential areas, and tourism-related services, Kep aims to attract travellers from all corners of the globe. The extended beachfront will offer ample space for relaxation, recreation, and enjoyment, elevating Kep's reputation as a sought-after coastal destination. To explore Kep and its surroundings further, click here to access our location profile of Kep.Kep Coastal Road In addition to these developments, the construction of the Kep coastal road is set to bring about a transformative change. This project, spanning a length of 12.75 kilometres, will connect the Rabbit Island Port to Angkol Beach. With a construction period of 22 months, the coastal road has received support in the form of a $10.5 million loan from the Asian Development Bank. In addition to the road infrastructure, the project includes the construction of sidewalks, bicycle lanes, and the planting of palm trees, creating an inviting and scenic route for travellers. Once completed, this coastal road will facilitate convenient access for both domestic and international tourists to various attractions within Kep Province. Moreover, it will play a crucial role in bolstering the province's tourism industry, enabling further growth. If you are looking to rent, buy or sell properties in Kep and its surroundings, reach out to us!Click Here