The Home & Lifestyle Expo series organised by Realestate.com.kh, the country’s most popular real estate portal is back. Coming into the second year, Home & Lifestyle Expo 2020 is going to be once again the country’s biggest and most successful event, creating millions worth of deals within only two days. Booths are limited. So, call us now at 092 92 1000 to reserve your spot and be a part of another biggest sale of the year on property and lifestyle products. The Home & Lifestyle Expo 2019 remains the biggest event to date with a remarkable sale of the year with a whopping 30 million worth of property and over 20000 attendees in two days. Participating in the Home & Lifestyle Expo 2020 means you are joining over 100 exhibitors showcasing their products ranging from affordable housing and mid-range Borey projects right through to luxury villas, condominium and mixed-use developments. Where will the Home & Lifestyle Expo 2020 be held? The Home & Lifestyle Expo 2020 will be held for two days only, on the 24 and 25 April 2020 at Koh Pich Exhibition Center, the world-class and largest exhibition space in Phnom Penh. Koh Pich Exhibition Center is not only a perfect venue for such a big event, but it is also a favorite place among the locals and expats living in Phnom Penh.  It is extremely well-located right in the heart of Phnom Penh and is accessible from anywhere within the CBD. It is also a very well-known place for business people who frequently travel within Cambodia as well as the region. Who will be attending the Home & Lifestyle  Expo 2020? With hundreds of new projects and developments from across the country, the Home & Lifestyle Expo will attract all kinds of property seekers ranging from the first home buyers, middle-class families and affluent locals. It will also bring a pool of international investors including those from the region such as China, Hong Kong, Singapore, Taiwan, Malaysia. Thailand, Japan and Korea. Shopping, great deals and family time Besides real estate, there will also be other exhibitors from different industries including banks, microfinance institutions, cars, motorcycles, mobile phones, appliances, furniture, devices, jewelry, sportswear and fashion.  Better yet, attendees to the Home & Lifestyle Expo 2020 will also have chances to talk with representatives from some of the country’s leading financial providers to find out more regarding loan requirements and procedures for homes, cars and more. Visting Home & Lifestyle Expo 2020 is a perfect family day out together as it also includes food and drink booths and other fun facilities and activities for family and kids to enjoy together such as the bouncy castle and face painting. Country’s leading companies that already booked spots at Home & Lifestyle 2020 Expo As of now, some of Cambodia's leading property developers, banks, financial service providers, real estate agencies and architecture companies, have already secured their spots.Exhibitors include: Prince Real Estate (Cambodia) Co., Ltd, Morganford Investment (Cambodia) Co., Ltd,  Urban Village, La Vista One, Garden One, Creed Group, Parc 21 Residence, The Peninsula Private Residences, The Hexa, Golden Century, E City,  Borey VIP, Borey Lorn City, Borey The Flora, Borey Mongkul Phnom Penh, Aristo Developers, CBRE Cambodia, CPL, MZ Design, ACMA-Hitachi, RHB Bank, Lotus Broadcasting Services, Asian Markets Business Consultancy (CAMBC) and E&A Consultant Co., Ltd  Sponsors include: B2B CAMBODiA, foodpanda and Tnoat News. To reserve booth/booths or become a sponsor, please contact the team at Realestate.com.kh now.  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

(Call now: 092 92 1000 for more information about booths and sponsorship) Are you currently looking or deciding to buy your first home or a new car for yourself, family members or loved ones for the upcoming New Year? If so, then you must visit this two-day Cambodia’s biggest Home & Lifestyle Expo 2020 which will be held on the 24 and 25 April 2020 at Koh Pich Exhibition Center.The Home & Lifestyle Expo 2020 is the second annual event of the Home & Lifestyle Expo series, organised by Realestate.com.kh, the number 1 property-focused marketing company in Cambodia.According to Thomas O’Sullivan, Realestate.com.kh CEO, last year’s event, the Home & Lifestyle 2019 was a great success. It had surpassed the company’s expectations in terms of the number of visitors and values worth of sales generated during the event. It attracted over 20,000 visitors with more than $ 30 million dollars in sales, including properties, cars, equipment, appliances, fashions and more.With the tremendous support from the Cambodian people and everyone residing in Cambodia, Realestate.com.kh is very pleased to create something that is really beneficial to the Cambodian market.Mr. Thomas O’Sullivan said, “ We are so excited to bring back the Home & Lifestyle Expo to the Cambodian market, especially to those who consider purchasing their first homes, cars or more. Ultimately, our goal is to give Cambodian families an opportunity to get the best deals of the year at the expo, and also to create a space where they can have the best weekend out together.”“The event will be bigger, better with greater deals,” he added.(The entrance of Home & Lifestyle Expo 2019 at Koh Pich Exhibition Center/ Realestate.com.kh) Okhna Cheng Keng, the chairman of CPL Cambodia Properties Limited, a leading real estate agency in Cambodia who participated in the Home & Lifestyle Expo last year said, the event was well-organised and attracted tens of thousands of people, which was a great opportunity for product branding and exposure.Okhna Cheng Keng said, “We had seen that it drove a lot of attention. It was a good event that attracted a huge crowd of people.”(A huge crowd of visitors to Home & Lifestyle Expo 2019 at Koh Pich Exhibition Center/ Realestate.com.kh)  What else?Besides exhibitors from the real estate industry showcasing their most prominent and latest development projects across the country with huge discounts including boreys, condos, office space, and lands. There will also be other exhibitors from other sectors spreading across over 100 booths at the Home & Lifestyle Expo 2020 including cars, motorcycles, mobile phones, appliances, furniture, devices, jewelry, sportswear, and equipment.Better yet, attendees to the Home & Lifestyle Expo 2020 can access to some of the country’s best banks, microfinance institutions regarding requirements and procedures to get house and car loans. Plus, it will also include food and drink booths and fun facilities for families to really enjoy together.Who is already on board for the Home & Lifestyle Expo 2020?As of now, some of Cambodia's leading property developers, banks, financial service providers, real estate agencies and architecture companies, have already secured their spots for the upcoming Home & Expo 2020 which will be held on the 24 and 25 April 2020 at Koh Pich Exhibition Centre.The exhibitors include: Prince Real Estate (Cambodia) Co.,Ltd , Morganford Investment (Cambodia) Co., Ltd. , Urban Village Phnom Penh, Garden One, La Vista One, Creed Group, Borey VIP, Borey Mongkul Phnom Penh, Borey Lorn City, Borey The Flora, Elite Capital 168, Parc 21 Residence, MZ Design, Aristo Developers, and ACMA Hitachi.Highlights of Home & Lifestyle Expo 2019 at Koh Pich Exhibition Center If you are looking to book a booth/booths or become a sponsor, please contact Realestate.com.kh now.  For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

As the Chinese New Year commonly known as Spring Festival is approaching, are you ready to embrace the fortune of the Year of the Rat?To celebrate the imminent Spring Festival 2020, Prince Huan Yu Centre will kick off the Chinese New Year with big promotions. That said, a campaign of “win options of discount or freebies while enjoying your property hunting at Prince Huan Yu in Spring Festival 2020.”Come and buy a high-end quality property with a big promotion, it literally would be a good start of yielding your wealth of the Year of the Rat.Credits to its rare location, top-end quality and the prominence of brand building, Prince Huan Yu Centre has been the attention and favor of global investors since its open sales in 2019.Situates in the heart of CBDThe Prince Huan Yu Centre is built by Prince Huan Yu Real Estate Group, a subsidiary of Prince Holding Group. The project will be stood high in Phnom Penh's important administrative and business centre, the CBD of Chamkarmon district.It combines multiple products such as condos, office spaces, retail and business spaces. The building spanning on 140,000 sqm boasts platinum-graded apartment, grade 5A offices and 17,000-sqm commercial facilities.It is ambitious to stand out like a beacon landmark in CBD, which fully fulfills living & vacation, business & entertainment and other needs.Given the high demand and higher rental fees within the CBD gives another proof that Prince Huan Yu Centre is one of the hottest investment options in the capital and even across Southeast Asia.Prestigious brand means more confidenceAs one of the leaders in Cambodia’s real estate sector, Prince Huan Yu Real Estate Group has always adhered to the mission of "Building a Better Cambodia". In 2019, the group has set foot in two major cities, Phnom Penh and Sihanoukville, with six famous projects such as Prince Huan Yu Centre, Prince Finance Centre, Prince Golden Bay. The brand of Prince has resembled a shortcut to wealth accumulation for many investors.In 2020, Prince Huan Yu Centre wishes the best blessing to all of you and continues to achieve in building a beautiful living for a cause of better and more prosperous Cambodia.For more information, please go and meet the team at the headquarters located in the north of the Russian Embassy (next to NAGA 3) in Phnom Penh, Cambodia.Happy Chinese New Year 2020!Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on April 24 and 25 at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

(Aerial view of buildings around Bassac area in Chamkarmon district / Realestate.com.kh) Rosewood Hotel, Phnom Penh: CBRE Fearless Forecast 2020 cited another strong year for Cambodia’s real estate sector. But Marc Townsend, Chairman of CBRE Cambodia, and the primary speaker at the event cautioned that while the Kingdom’s economy is expanding rapidly, adjustments have to be made to sustain the growth of its real estate sector.A strong entry into 2020CBRE estimates a 7.1% GDP growth for Cambodia in 2019. This can be attributed to the continuing boom in the construction sector along with tourism and overall interest in Cambodia as an alternative investment destination compared to its neighbors.According to CBRE’s report, a total of USD $9.3 billion worth of investments came into the Kingdom spread across 4,446 approved investment projects. For emphasis on the country’s relative growth, Marc Townsend cited that only 3 building licenses were issued in Ho Chi Minh city compared to the 405 building licenses that were given last year in the surrounding area of the Rosewood Hotel in Phnom Penh.(Marc Townsend, Chairman of CBRE Cambodia speaks to a room full of mostly real estate professionals and investors / Realestate.com.kh)As of Q4 2019, CBRE data shows the condominium sector had 27 new project launches and 11 completions, adding 16,500 units and 3,800 units respectively. The current condominium supply is divided among the High-End at 23%, Mid-Range at 53%, and Affordable at 24%. CBRE forecasts supplies of condominium units in 2020 to be divided into High-End at 24%, Mid-Range at 46%, and Affordable at 30%. The shift towards affordable units is cited to be due to the healthy demand among Cambodian buyers.Upcoming condominium projects, provided they finish on schedule, are expected to put some downward pressure on prices across all segments of the market.The CBRE report also states that housing loans increased by 30% this 2019 from USD $2.9B to USD $3.4B. Consumer loans increased at the same time from USD $6.2B to $ 7.1B this year. CBRE attributes these increase in loans to appreciating property values, lifestyle changes of Cambodians, and increasing competition within the banking sector.(A shot over the ocean and Sihanoukville's skyline as of 2020 / Realestate.com.kh)Development funds have also diversified in Cambodia. Marc Townsend shares that these companies barely had any presence in the country’s capital markets almost a decade ago but in 2019, these have diversified into construction loans, formal & informal fund structures, bonds, IPOs, off-shore lending, crowd-funding, and venture capitals.Cambodia, overall, remains an attractive investment destination compared to its neighbors. For example, data from CBRE cites that land prices in Ho Chi Minh city, as of Q4 2019, now go up to USD $30,000 per sqm in the inner city compared to USD $6,000 per sqm in Daun Penh.These are but a few of the overall data presented suggesting that the Cambodian economy is expected to continue to see economic growth this coming 2020. It is, however, not free of challenges, as we’ve seen this past year.Challenges of sustaining Cambodia’s economic growthThe two elephants in the room, according to the conference’s attendees during the Q&A, were the EBA withdrawal and the threat of property oversupply that could negatively impact the market.Of the surveyed attendees, most agreed that the EBA withdrawal will have “Moderate” effects on the Cambodian economy. While it could have ripple effects in the real estate sector, nobody knows what would ultimately happen until it happens, according to the speakers.As for the issue of oversupply, Marc Townsend introduced the idea that if there is an oversupply, then why are prices continuing to rise? He cites Vietnam as an example when it took off as a real estate venture. According to him, when the government relaxed regulations on foreign ownership, the property market went ballistic.(A recent sky view of under-construction buildings in Sihanoukville city / Realestate.com.kh) The same could be expected of the Cambodian real estate sector as it develops. Many of the high-end condominiums are available for the local Cambodian elite, with most units likely being owned by foreigners through strata-titles. And as more mid-range and affordable units come into stock, more local middle-class buyers will likely purchase their own condominium units.Infrastructure in Cambodia has grown significantly in the past decade but it may face slowdowns if project managers are slow to push their developments forward. The news of national roads and ring roads being constructed/rehabilitated is driving land prices up and might cause roadblocks to project development due to price haggling and owner holdouts. Without swift resolutions, infrastructure developments (such as the aforementioned roads) will have difficulty meeting their target dates.Marc Townsend also cautions Cambodia of the shift in priorities of big multinational investment firms. BlackRock, an investment management company handling USD $7 trillion in assets, instructed their fund managers to prioritise investment ventures that consider their environmental impact. This shift in socio-environmental requirements is likely to be followed by other investment firms and thus, must be considered by Cambodian stakeholders starting in 2020 to attract foreign investment in the future.Ensuring tourist safety also came up as a means of growing the Kingdom’s tourism sector. Marc Townsend suggests that most tourists, especially the Chinese, value safety as a top concern when visiting a foreign country. A disciplined and well-equipped police force looking out for both the locals’ and foreign visitors’ well-being will only drive up tourism confidence in the Kingdom. This point is supported by a report from the Khmer Times where the Shanghai Chief of Police asked the Cambodian National Police to ensure the security of Chinese businessmen and travelers in the Kingdom.The conference also discussed the recent construction-related accidents. Marc Townsend was clear these tragedies are an industry problem that must be addressed by developers by applying basic safety standards, the usage of quality materials, and adherence to the new government regulations. He lauded the passing of the much-awaited construction law and is hopeful Cambodia’s construction sector will avoid such tragedies ever again.(Sihanoukville's skyline adjacent to the city's Independence Beach / Realestate.com.kh) As Cambodia enters a new decade of development, winners, and losers in the real estate sector will likely be determined by an investor/developer’s ability to take advantage of Cambodia’s strengths and overcome the challenges presented.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

Why bother to go on a trip when you could just come home after a long day at work and feel like staying in a luxury resort. This is what The Palms is offering.Developed by Oxley-Worldbridge (Cambodia) Co., Ltd, a joint-venture between Worldbridge Land (Cambodia) Co., Ltd, a Cambodia-based real estate company, and Oxley Holdings Limited, a Singapore-based property developer.The Palms is the first luxury resort-like residential project in the adjacent of the city centre that offers cluster houses including villas, riverside boardwalks and a whole range of facilities where you can indulge yourself and loved ones all year-round.The group has also produced other successful landmark projects in Phnom Penh such as The Bridge and The Peak.The Palms is located in Chbar Ampov district alongside the majestic Mekong River. It features a collection of over 200 exclusive cluster homes and superbly luxurious villas surrounded by palm trees, lush greeneries, and glistening waters - a perfect setup for a home seemingly a world away from the hustle-and-bustle of the city.Residents of The Palms can live a life of unprecedented resort amenities within a private community. Every unit has access to terrace living rooms, man-made beaches, BBQ dining pavilions, water playgrounds, hydrotherapy pools, several lap pools, and even a grand lagoon pool.Its resort villas range from 377 sqm up to 1086 sqm of total floor space and are built with the finest fixtures that make The Palms project the quintessential example of understated luxury resort living. The highest-end of these villas are the waterfront villas where residents are just a few steps away from the Mekong boardwalk, an esplanade for leisurely walks complemented by the cool breeze from the river.But what is luxury living without conveniences? The Palms sits right along National Road 1 and is a 5-minute drive away from the Tonle Bassac Bridge. This quick access to the bridge allows its residents to easily navigate anywhere in Phnom Penh through Preah Norodom, Preah Monivong, and Hun Sen Blvd. And with the city’s biggest mall yet, AEON Mall 3, opening in 2023, The Palms’ residents can truly have everything they could want and need at their doorsteps.Offers of luxury living are plastered all over Phnom Penh, but few can truly compare to The Palm’s unique concept of resort-leisure living. It also is the first development of its kind that brings high-end resort-living to city dwellers.With the commencement of construction in May 2018, the project is expected to be completed by end of 2020.Click here to earn more about The Palms. For more information or inquiries please call: 092 92 1000 or e-mail: info@realestate.com.khRealestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

At the beginning of the new year of 2020, Cambodia’s robust construction industry was abruptly hit by a mishap. On January 3, a six-storey building under construction in the coastal town Kep collapsed, which claimed the lives of 36 people and left 23 injured.This incident is no more than half a year after the collapse of a seven-storey building construction in Sihanoukville last year.Hidden dangers caused by human errors and poor supervision have once again cast a haze on Cambodia’s construction and property industry. These events should serve as a reminder to developers and buyers they should remain vigilant and cautious as far as the credibility and qualification of a contractor or builder are concerned.When we take a look at how things are in Sihanoukville, we see a city reeling in from a collective tragedy. Since the aftermath of a construction accident, the local government has been tirelessly redeeming itself to sustain the stride of growing urban infrastructure and property development. Even though the city looks like a massive construction site, Sihanoukville is changing day-to-day, especially in a dry season in Southeast Asia, known as a golden season in the construction industry.It was on the same day as the accident in Kep that Happy City was successfully completed. The project is located at the main access into Sihanoukville, where National Highway 4 and the developing Phnom Penh-Sihanoukville expressway converges. This modern piece of architecture is a 30-storey high-end residence providing fully-furnished condo and community amenities, ideal for both residential and/or holiday purposes. It sits on a highland of the city and overlooks the Victory and Independent Beach. This means the property is framed to be one of the best choices of valuable investment in Sihanoukville.The opening of Happy CityHappy City is developed by Yuejing (Cambodia) Real Estate Co., Ltd., a developer with years of property construction and management.The project will be handed over by the end of 2020, and become one of the first of the completed residential projects in this beachside city. As Happy City was completed as scheduled, the developer has proved its upstanding reputation and its ability to manage projects well.Happy City is only 1.9 kilometers away from the coast, and the beautiful Victory Beach and Independence Beach are visible from the fifth floor and above. To the south of the project, is the municipal centre, while the downtown commercial hub is to its west connected with smooth traffic. This enviable location ensures satisfaction for a holiday or an elegant urban lifestyle. Moreover, the industrial zones of the Sihanoukville port, its collection of casinos, and the natural hospitality of the Khmer is a huge advantage for Happy City's rental prospects. Its property management practices are in line with international standard services, so as to preserve owners’ interests and uphold residents’ well-being.Happy City has 1,600 studio apartments, all of which are exquisitely designed and avant-garde, ranging from 30.57 to 42.44 sqm in size, and equipped with top-grade furniture and essential home appliances such as air conditioning and television. They are available to stay upon key turning.The unit price starts from only 40,000 US dollars, a small investment with low risk and financially sound. The unit comes with freehold ownership and no inheritance tax. At the moment a two-year return rate of 8% per year definitely makes Happy City a good investment in Sihanoukville.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

(The two bridges connecting Chroy Changvar and Phnom Penh city centre/ Seiha Phorn) A river is the lifeblood of human society.  A city with a flowing waterway is more likely evocative and distinguished. For instance, Shanghai has the Huangpu or Phnom Penh has the Tonle Sap.Chroy Changvar district, a peninsula lies in the northeast of Phnom Penh and parallels the heart of the downtown. It is like an oasis hemmed by the Tonle Sap and the Mekong River The district is currently reachable by the Cambodia-China Friendship Bridge and Cambodia-Japan Friendship Bridge. An underway regional plan consisting of efforts of ecological conservation will surely make the peninsula district a unique home to content souls.Looking back to what has transpired in Chroy Changva, which has been growing from a piece of wetland, the remarkable transformation of the district resembles the Lujiazui area in Shanghai city, an international financial hub across the river in China.Indeed, Chroy Changvar district has become one of the fastest-developing areas of Phnom Penh, alongside Sen Sok, Toul Kork and Meanchey district. Compared to other new-rising, Chroy Changvar district is the one with more strategic advantages. Firstly, it has a large amount of undeveloped land and the price is rather lower than the others. And secondly, it has easy access to the city. Thirdly the natural landscape is most alluring and ecologically pleasant. Fundamentally, the urban plans and high-standard municipal facilities progressing in the region are very positive and forward-looking.The stunning of Chroy Changvar  Chroy Changvar is home to some of the most significant landmarks, institutions and facilities including:  the local five-star hotel - Sokha Hotel, the first theme zoo - Phnom Penh Safari, the first Asia’s top entertainment and the largest waterpark destination - Garden City Water Park, the largest stadium for the Southeast Asian Games 2023, the modern mega shopping malls like the Marko and AEON Mall, the Sunrise Japan Hospital Phnom Penh, Norton University and more…Simply Chroy Changvar is the upcoming destination of attractions and selected residential hub with a lot of new developments are currently happening there such as Wealth Mansion.  About Wealth Mansion Wealth Mansion is a waterfront luxury condominium developed by a China-based developer. This project is expected to become a very valuable property like those in Shanghai's Pudong district. The construction of the Wealth Mansion has started in June 2019. The project occupies the riverside scenic line of Chroy Changvar district of Phnom Penh. This 45 storey building has a height of 166 meters sitting in an area with a well-connected traffic network including the Cambodia-Japan Friendship Bridge. It is close to the new City Hall and the Southeast Asian Games venues. Boeung Kak district, Wat Phnom, the Riverside and other attractions are within the good view of the project. The Wealth Mansion with melded benefits of investment and residence is the confident debut of Everhealth International Investment Development Co., Ltd., who invited Rixing Design, a designer of national pavilions of the World Expo, to work on the innovative architecture. The contractor is China Construction Third Bureau, a state-owned enterprise. All the teams involved will dedicate to ensure the smooth progress of the project supported by capital strength, technical capabilities and quality control.The design of the Wealth Mansion absorbs elements unique to the Chroy Changvar peninsula, such as the pleasant ambiance and the well-preserved ecology. For instance, the architect has made good use of natural ventilation and lighting. With the layout of layer and facade greenery,  water features, central gardens on each floor, and open corridors, the building is set to be a comfortable dwelling on minimum energy consumption, thanks to the creation of an independent three-dimensional ecology.Wealth Mansion's smart floor plan enables each dweller to have unique life experience for its reasonable layout, aesthetic design and practical functions. The two-bedroom apartment units' design focuses on bedrooms, kitchens and balconies. The master bedroom comes with an en-suite bathroom. Residents can enjoy a more delicate family living atmosphere. Each apartment is fully furnished with modern equipment, appliances, and calm lighting, which means you can immediately move in after the handover.ONYX Hospitality Group based in Thailand has signed a contract with Wealth Mansion’s developer to operate the first five-star apartment hotel in this district.The Wealth Mansion also has a ‘worry-free’ service package for its home-buyers, which allows owners to check on the lease, maintenance and rental fee collection of their properties in a timely manner.The project offers some of the best first-class facilities for residents to enjoy. Everything is reachable within the doorstep including its state-of-the-art fitness center, stylish spa and a 1,000 sqm infinity sky pool.  It also features a large parking area with 830 parking spaces that make you feel particularly convenient to get in and out. Other services will also be available in this building including restaurants and cafes to help make your everyday life even more convenient. On top of that, it also has a conference and multi-function room that allows you to organise meetings so you can literally step out and be right at the meeting place.  And besides, the well-equipped lounges, 24-hour security and cleaning service will be also provided to give you a truly modern lifestyle. The Wealth Mansion consists of 1184 units in total. The starting price is $2,200 per sqm. It is set to be handed over by the end of 2021. The developer provides a 2-year guarantee of a rental return, and a property operation and management carried out by the five-star hotel.With a prime location and ambitious planning, Wealth Mansion is a perfect option for a comfortable, luxurious dream home as well as property appreciation and rental returns investment that you cannot miss. Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Imagine waking up to a gentle morning breeze and the sight of lush greeneries illuminated by the mellow morning sun. You would think you’re on vacation in the countryside or by the seaside. But if you’re living in Garden One, this will be your new everyday view.Garden One is an upcoming project that surrounds you with verdant gardens and a relaxing atmosphere, making it Phnom Penh’s premier green living development. Located in Toul Kork, a district known for its fast urbanisation. Garden One is expected to be a beacon of lush greenery in an area surrounded by a lifeless shade of grey.Garden One’s vision is to marry eco-friendly living and 21st-century city standards for its residents. Each unit, ranging from 44 to 91 sqm, and even sprawling 139 sqm luxury units, is designed to accommodate modern fixtures that make your daily activities easier.All units are uniquely surrounded by a small garden, complementing an already fantastic view of Phnom Penh’s growing cityscape from its balconies. You can well expect your worries to be left by the door as you come home and reenergise yourself in the comfort and safety of Garden One.Garden One residences are turn-key homes allowing you to move-in quickly and hassle-free. Living here comes complete with the standard fitness centre and rooftop swimming pool benefits - all seamlessly styled with small gardens of their own.Being Phnom Penh’s premier green living development, it offers a unique opportunity for both residents and investors. Units are available for rent and sale starting at USD $800 per month and USD $1,800 per sqm, respectively. Garden One also welcomes you to invest in the development of green spaces as its developer, JianZhong YuTong Co.,Ltd, offers a guaranteed 6% guaranteed rental return for 2 years. Garden One units are set to be handed over in December 2021.Green living may be the new popular trend, but are you actually living green? If you’re interested in making a sustainable residential and investment choice, call us now at 092 92 1000 or email: info@realestate.com.khRealestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

There must be such a beautiful beach there for you, tranquil and gorgeous, serene and homey. There your soul to be immersed in the sea and sky.Take a break from the hustle-and-bustle of the city and enjoy a much-needed peace with the sea-breeze and appreciate the true joys of a wonderful life.At Prince Tian Xi Wan, you may discover a poet in you. Take delight in the strikingly beautiful garden 13,000 sqm high in the sky and appreciate the shades of leaves and the tunes of birds, composing a poem and revealing yourself to nature mother.At Prince Tian Xi Wan, you may become a sailor. Commandeer a boat at the Marina and sails away. Enjoy a voyage in a long-tail, kayak, or a yacht.Living a life of new experiences with Prince Tian Xi Wan, at Prince Tian Xi Wan, you may become a photographer capturing Sihanoukville’s resplendent sunrise and colorful sunsets.Take in a fascinating view every moment of the day and any snapshot is a masterpiece of photography.At Prince Tian Xi Wan, you may become a musician. Let the morning breeze sing to you as the sun rises. Prosaic waves of sound at night that put your heart at ease and dissolve all the worries during the day.Let Prince Tian Xi Wan takes you away from the busy urban life and enjoy every subtle moment of peace and serenity.A smart property choice in Sihanoukville, Prince Tian Xi WanPrince Tian Xi Wan is adjacent to many vital quality-of-life services, including government offices, at Victory Beach in Sihanoukville. The project integrates super five-star hotels, five-star hotel apartments, the largest duty-free shop to the region, luxury shopping avenues, IMAX theaters, marinas, and beachfront lounges. It is like an ark built in a 340,000-sqm world-class coastal resort.The project features a beautiful sky garden stretching out 13,000 sqm, coupled with a controlled indoor swimming pool and a garden-style pool, and a large modern parking space of 25,000 sqm.There will be a ring of luxurious amenities that comes with this project, including luxury and brand outlets, supermarkets, duty-free shops, boutique food court, children's playground, high-end theater, SPA health centre, an ice rink, KTV and private yacht club. This exclusive selection of luxury activities impeccably meets all the craving for any holiday.The project is expected to be completed in March 2023. Now, Prince Tian Xi Wan’s 39-127㎡ well-furnished apartments are on sale. Our showrooms are open and our sales representatives are ready to welcome you today!Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Since released by Realestate.com.kh in September last year, Direct Chat has significantly grown in popularity among property seekers looking to rent or buy properties in Cambodia according to Realestate.com.kh’s data.Direct Chat is available across the Realestate.com.kh’s platforms including the website and mobile App. This new function allows property seekers to send messages or start a conversation directly and instantly with real estate agents or developers.It is very user-friendly. It works just like other well-known messaging Apps including WeChat, Telegram and WhatsApp. It shows if an agent is online or has read the message. Better yet, it allows users to translate the message into their native languages.Download the App here!Click here to learn more about Direct Chat and other new features.More property seekers turn to Direct Chat for inquiriesThe data from Realestate.com.kh shows that on a daily basis, there are around 1000 active App users. On average, 180 out of1000 property seekers engaged with real estate agents via Direct Chat.The data also show that those who chose Direct Chat as their preferred means of communication started 5 to 6 chats at a time which means they talked to 5 to 6 agents at a time. For day-to-day traffic, there are around 183 chats or conversations started by property seekers. However, only 141 of them were responded, which means 42 chats simply equals to 42 leads went unanswered.Mr. Thomas O’Sullivan, the Realestate.com.kh CEO said the company encourages faster responses and award those who perform well by merely replying to messages quickly or in a timely manner by having their listings appear higher in the list compared to those who perform poorly.“The most important stakeholders to Realestate.com.kh are the property seekers. We want to make sure that they receive the best experience using our platforms including the website, Realestate.com.kh and phone App,” Mr. O’Sullivan said.To do that, Realestate.com.kh has created a powerful artificial intelligence that takes into account the duration agents took to reply the live chat as well as the rating agents received from property seekers, which is exactly the same rating system on Grab and Uber, he said.“Simply, if an agent has a good rating and fast response times on live chat, then their listings will appear higher on the list compared to those agents that have a lower rating and slower,” he said.Adding that, on the other hand, it will also help professionalise practices in Cambodian real estate sector.“Part of being a professional agent is responding to leads and property seekers in a professional, timely manner,” Mr. O’Sullivan added.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android. Article by:

(Click here to learn more about Prince Happiness Plaza) Being one of the countries under the most dynamic and potential economic development in the world, Cambodia is no longer synonymous with poverty and chaos, but a reincarnation of the ancient Khmer Kingdom booming in the rapid construction of urban infrastructure and much more industrial development. Remarkably, in the capital Phnom Penh, housing prices have been soaring for years due to the huge demand by increasing population, tailed by larger property investments.Compared to the change in the residential sector, supplies of office buildings in Phnom Penh are relatively more scarce. The ‘Belt and Road’ initiative brings with it many multinational corporations from China. The office building is playing a growing role in the business sector. For now, Phnom Penh has only three Grade A office buildings, namely the Canadia Tower, the Exchange Square, and the Vattanac Capital. Cambodia’s emerging market sees an average return on revenue (ROR) of 10% and a noticeable shortage in supply and has become a new hotcake for investors.Demand for office buildings in Phnom Penh is expandingAccording to the ‘Quarter 3 Report of Phnom Penh’s Real Estate Market in 2019’ previously released by CBRE, the number of Cambodian office units continues to increase, and the average rate of occupancy of all grades (A/B/C) office buildings increased by 4.7% year-on-year reached a new peak of 87.7%.Focused on Phnom Penh’s market, a report for the second quarter of 2019 disclosed that high-end office spaces in Phnom Penh are basically in full occupancy, saw a rising by 0.54% over the first quarter, and rents also continuing to rise. That said, the supply of available office spaces in Phnom Penh is starting to tighten, and even more so when high-end office spaces are concerned.(Click here to learn more about Prince Happiness Plaza) Innovation on office spaces weighs in on business strategiesThe trend of modern office design focuses on flexibility in workspaces that can entice talents and promote the performance of employees. More and more companies have come to realise these possibilities and are beginning to stick to these new approaches to office management.With a large number of foreign companies stationed in Phnom Penh, thanks to the stable political environment and good opportunities, the office-based workers in Cambodia have gradually increased. As a counterpart to villas or high-end apartments, modernised A-grade office spaces have become a better choice for corporations and entrepreneurs.Investment in Phnom Penh’s office spaces prioritises long-term useBusiness real estate operations do not differ much from infrastructure development. It is the locomotive that drives a nation’s industrial prosperity and overall economic development. They both require long-term financial support. Therefore, a smart commercial real estate developer will partner up a competent operator, carry out a lower-cost plan backed with long-term funding, so as to yield more profit than developing a residential project.(Click here to learn more about Prince Happiness Plaza) Last year, rates of return of office spaces in Phnom Penh were as high as 10% -15%, higher than residential returns at 6%-8%. The monthly rent of Grade A office remained at $28-$38 per sqm, $22-$26 per sqm for Grade B office, $12-$17 per sqm for Grade C in the city centre. The lease of office spaces is more in line with long-term returns, in contrast to the initial high-end sales figures associated with residential units.Recently, Phnom Penh’s real estate market is largely dominated Grade C and B office spaces, which consists of 51% for Grade C, 35% for Grade B and 14% for Grade A. It is forecasted that the share of Grade A and Grade B office spaces will increase from 49% to 72% by the end of 2021. The development of high-end office buildings is still in the phase before its big leap, and it could very well suit investors to throw in their lot now before prices soar again.Investing in commercial property in Phnom Penh? Prince Happiness Plaza has more lucrative offers with office spacesPrince Happiness Plaza is located in the heart of ​​southern Phnom Penh, a part of town seeing continuous growth. Famous landmarks, such as the Independence Monument, National Museum, and the Royal Palace are nearby. A cluster of embassies, including Australia, Japan, Thailand, Russia, Malaysia, and others are within reach.Modern medical institutions such as the First Center Polyclinic and Bayon Hospital, and international schools such as ISPP, PARAGON, and Royal University of Law and Economics are all within a 2-kilometre radius. It is also close to tons of leisure and entertainment which includes AEON Phase 3, PH Mall, Russian Market, Central Market, Sofitel Hotel, Bassac River Restaurant, and Naga World. Occupants of the Plaza can easily enjoy all the offerings from a wide range of available amenities.(Click here to learn more about Prince Happiness Plaza) Additionally, Prince Happiness Plaza is located right along Monivong Blvd, well within the area where Monivong, Road 271, and Hun Sen Blvd all merge - allowing for quick access to the heart of Phnom Penh, the airport, and basically anywhere else in the city!Seize a spot in the heart of a rising stage, where an icon will soon stand! Do not miss out the metropolitan luxury residence (MERRYLAND) and its office assets (SKYRISE), both available for international sale!Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

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

Finally the long-awaited event of the year, Cambodia Real Estate Awards 2019 (CREA 2019) took place on Thursday night, December 12 at Sofitel Phnom Penh Phokeethra. It was the night of nights for the real estate industry in Cambodia and a great celebration for the whole industry to come together to reflect on a huge 2019.Over 400 distinguished guests including government officials, developers, investors and real estate professionals walked on the red carpet leading to the grand ballroom of Sofitel Hotel where the gala dinner and the official announcement of winners of the Cambodia Real Estate Awards 2019 took place.While enjoying the wine and specially made dishes for the night, all the attendees got to witness and celebrate as winners of the Cambodia Real Estate Awards 2019 were revealed and recognised for their achievements and hard-work which helped them earn the title of being the leaders in the field.26 winners from the leading agencies in Cambodia were revealed that night and were awarded with the iconic trophy, prestigious CREA seal, and gold plaques to confirm their individual and company success.CPL Cambodia Limited and CBRE Cambodia shared the honours for Real Estate Agency of the year 2019 (Enterprise), while Yi Fung Real Estate led the way in the corporate category.Big winners CBRE Cambodia took home eight awards, followed by Yi Fung Real Estate who won five awards while CPL Cambodia Limited and Amatak Property Service each took home two awards.CREA 2019 is the second annual Cambodia Real Estate Awards, proudly organised byRealestate.com.kh, in collaboration with the Ministry of Economy and Finance (MEF) and theCambodian Valuers and Estate Agents Association (CVEA).It is a platform created to celebrate and recognise the hard work and efforts of leading real estate agencies and agents and raise the standards and professionalpractices in the real estate sector in Cambodia. It also aims to assist in further professionalising the Cambodian real estate industry by recognising the achievements of everyone in the sector objectively, fairly and inclusively, allowing all firms and individuals to participate in the competition regardless of their size or wealth.In his opening remarks, Thomas O’Sullivan, CEO of Realestate.com.kh said, “ I can tell you that we had a resounding 100 entries this year, which is double what we received in 2018. And, I want to thank everyone that took the time to put together videos and prepare entries.”“One of the main drivers of this event is to promote the industry in general, and most importantly promote to the world the professional level of the Cambodia real estate industry. And by awarding those agents and agencies that are operating under a registered company, only encourages local and international buyers and sellers to use professional agents in the industry. You see, this event simply builds trust in the cambodia real estate industry on a global scale,” Mr. O’Sullivan said.CREA 2019 sponsors CREA 2019 was made possible with the generous support from our sponsors: Platinum sponsor: AGILE NAKI PROPERTY CO., LTD, Gold sponsor: KH LAND, Silver sponsors: LEVDEO, GARDEN One, Midea Cambodia, TNAOT App, Cellcard, CEO Master Club, Lumiere Residence and CHIEF BANK, Bronze sponsor: SingMeng TelemediaMedia partners include : Khmer Times, EuroCham Cambodia, Property Area Asia, CTN, FRESH NEWS, Fang.com, Thmey Thmey and Biz KhmerComplete list of winnersAgency Awards:Real Estate Agency of the Year (Corporate)Yi Fung Real Estate (winner)Real Estate Agency of the Year (Enterprise)CBRE Cambodia (winner) CPL Cambodia Limited (winner)Best Upcoming Agency of the YearPointer Property Co., Ltd (winner)Regional Agency of the YearCBRE Cambodia (winner)Valuation Company of the YearKnight Frank Cambodia (winner)Commercial Agency of the YearCBRE Cambodia (winner)Property Management of the YearCBRE Cambodia (winner)Employer of ChoiceCBRE Cambodia (winner)Yi Fung Real Estate (winner)International Agency of the YearCentury 21 Fortuna Investment (winner)Agency of ChoiceYi Fung Real Estate (winner)Amatak Property Service Co., Ltd (winner)C-Herald Property Service Co., Ltd (winner)LSCG Real Estate Co., Ltd (winner)Agent Awards:Real Estate Agent of the YearMs. Sothida Ann (winner)Sales Agent of the YearLok Chumteav Bun Navy (winner)Mr. Seab Rithy (winner)Rental Agent of the YearMs. Sao Sokuntheary (winner)Valuation Professional of the YearExcellency Oknha Noun Rithy (winner)Best Upcoming Agent of the YearMs. Sovichheka Sun (winner)Mr. Ny Rasy (winner)Agent of ChoiceExcellency Oknha Noun Rithy (winner)Ms. Bopha Chea (winner)Mr. Teng Leheng (winner)Ms.Tang Hour (winner)Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more! Article by:

National Road 2 is a major road connecting Phnom Penh to Takeo province. Due to overuse and negligence, it is now in need of immediate restoration. Last year, the government unveiled plans to rebuild the National Road 2 to support both public and freight transportation. Sun Chanthol, the Minister of Public Works and Transport, spoke about the project during the Urban Mobility Forum last December 5, 2019 and said that the government already has the funds required to begin the road’s rehabilitation.The minister shared that rehabilitation projects for National Road 2 and National Road 22 will begin in 2020. The government is set to announce the official groundbreaking for the project sometime in the year as the necessary construction materials and equipment are still being transported to Cambodia.According to the statement, the rehabilitation project will cost $64.5 million covering 72.17km worth of highway heading to the south. The Republic of Korea, through its most recent infrastructure loans, will foot $56 million of the total cost with the Royal Government of Cambodia funding the remaining $8.5 million.The project stretches across three provinces - Kandal, Phnom Penh and Takeo. The project is divided into three major sectionsSection 1: is 8.7 km long stretching from Takmao roundabout to the Koursrov roundabout will be expanded from 2 to 4 lanes. The 4.3 km part of the road in the downtown area will be expanded into a 15 meter-wide road. While the section outside of the downtown area will be expanded into a 20.5 meter-wide road. This section of the road will be laid with concrete floor (AC) thickness of 12 centimeters.Section 2: A 53.81 kilometer-long countryside road starting from the Koursrov roundabout to Ou Chambok roundabout .This road will consist of 2 lanes 13 meters wide with a thickness of 10 centimeters.Section 3: This section of the road - National route 22, stretches 9.6 kilometers from Ou Chambok roundabout to Ang Tasom market. This section will have a width of 13 meters with a concrete floor (AC) thickness of 10 centimeters.Property experts have lauded the project intent to expand and improve the overall state of the major highway. They expect that the rehabilitation will accelerate the area’s real estate growth. Chrek Soknim, president of the CVEA, speculates that the new National Road 2 area will soon become the next target investment area as many large plots of land are still undeveloped.Soknim considers major infrastructure projects such as airports and the on-going 3rd Ring Road as catalysts for boosting property value in the area.As for land prices, Soknim said that prices have been rising since 2018. An average plot of land along the road is now selling at $200 to $500 per sqm. That’s a far cry from pre-2018 prices of just $100 per sqm.Pann Dara, managing director BZ properties, agrees with Soknim as he also noticed the increase in land prices along National Road 2 after the announcement of a new airport project in Kandal Steung district, the groundbreaking of Aeon mall 3, and the on-going rehabilitation of the 3rd Ring Road.”Despite skyrocketing prices, all available land for sale have been bought, particularly lands near Koursrov roundabout for future developments” said Dara.Data also notes that the land along National Road 2 from Koursrov roundabout to Boeung Khyang commune is selling between $300 to $350 per sqm. While land from Boeung Khyang to Bati district sells for $100 to $200 per sqm (for a hectare) and a little over $70 per sqm for land larger than 10 hectares.While rising property value is a good sign of a developing property market, the practice of overpricing can threaten the area’s real estate industry, according to Ann Sothida, director of CBRE Cambodia.Thida explained that the fast uptick in property pricing along National Road 2 is a cause for major concern in the real estate market. The sky-high prices might deter more and more investors, which might then lead to a slow down in new opportunities for locals. Proper action must be taken to curb overpricing and to scale land pricing according to its real market value.“We have to wait another 5 years to see what developments will rise, and how far investments will grow along the National Road 2 area. Residential housing projects will likely be the first developments there.” Ms. Sothida said. Stay tuned to our news section all year long for breaking updates on the Realestate.com.kh. Download the Realestate.com.kh App now on both iOS and Android.Interested in investing in Cambodia, find any real estate for sale in Phnom Penh! Check out our Cambodia Investment Guide 2019 to learn more!Article by

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

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

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

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

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

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