The stage is set for Veng Sreng’s new shopping hotspot: K Mall developed by Urbanland will open to the public for the first time in 2021. More than 40 shops will welcome customers with an attractive mix of much-loved homegrown brands and international retailers, and a variety of dining options.K Mall provides the perfect retail climate to satisfy the long under-served retail needs of this busy neighbourhood. Careful attention to transport linkages means the modern mall can also be easily accessed from other areas of Veng Sreng, placing young, mid-market neighbourhoods within convenient reach of the community mall and all that K Mall has to offer.K Mall, 50% leased before openingThe new community mall offers three floors of retail delight, with easy access to local favourites Lucky Supermarket, Zando and Nata™ Footwear – all fantastic firsts for Veng Sreng. But K Mall is not just about shopping – it’s about relaxation as well. Coffee lovers will be able to enjoy their favourite brew when homegrown cafe chain Brown Coffee opens its latest outlet at the mall’s entrance. Lucky Burger will be serving up tasty burgers to satisfy the Cambodian palate. Avid movie- goers get to watch the latest blockbusters in the all-new six-screen Legend Cinema with Premium Hall and Kids’ Hall.“K Mall has achieved more than 50% in commitment for its retail leasing and we expect more leases to be signed in the coming months. Buying into K Mall’s vision and its strategic location are some of the deciding factors for the support received from our retail partners,” said Mr Hok Kang, Managing Director of Urbanland Asia Investment Co., Ltd.“Much precision and details have been put into consideration of its interior design bringing a whole new experience to shoppers and visitors. We hope that our shoppers will enjoy the one-of-its-kind concept, modern architecture, with an exciting tenant mix to cater to the Cambodian lifestyle.”Street view of K Mall, the walkable and pedestrian-friendly heart of KMH Park on Veng Sreng.KMH Park, A New Masterplan CommunityFronting Veng Sreng Boulevard, K Mall enjoys a strategic location just minutes from Steung Mean Chey intersection and Chom Chao roundabout. The first community mall on Veng Sreng is part of the larger KMH Park, a new masterplan development by Urbanland Asia, a member of the ISI Group. In Phase 1, the 6-hectare development will include 40 shophouses, a 3-storey community mall, 9-storey office tower, football stadium, and leisure park. The project offers young and upwardly mobile Cambodians a place to live, work and play in an integrated mixed-use community that includes residences, commercial office, retail, and green spaces in an open-plan development.KMH Park’s Phase 1 scheme will be one of Phnom Penh’s first integrated live, work and play lifestyle concepts for dynamic urban professionals. The community mall is located across from the 40 shophouses and office tower, marking the gateway to KMH Park. With a leasable area of 12,000 sqm, K Mall will feature a supermarket and cinema, in addition to over 40 eateries and everyday urban essentials. The mall also incorporates generous public spaces in the form of plazas and terraces where other community activities such as festival markets, weekend bazaars and community events can be held. Blending contemporary design, a covered plaza provides an all-weather community and event space within K Mall. Integrating art and culture within the mall, K Mall aims to be a must-visit destination, with the potential of providing public art, outdoor cinema screenings and mini concerts all year round. Customer-friendly amenities along with a parking supply of 700 motorbikes and 300 cars will enhance the comfort and convenience of visitors.40 signature shophouses 80% soldKMH Park features 40 signature shophouses which are setup to accommodate both commercial and residential configurations. A dedicated 5m sidewalk and 5m for parking make for a pedestrian friendly experience. These unique 5.2m x 21m shophouses feature a lightwell that lets natural light in from the top of the shophouse down to the first floor, with every unit having their own corner window facing the main road.Nearing completion, the 40 shophouses are officially 80% sold with remaining options available. Construction is moving along quickly, with move-ins starting early 2021. Only 8 units remain! Secure yours now to own one of these unique shophouses.To schedule a viewing, please contact 078 888 580 / 012 444 371 or visit https://urbanlandasia.com/projects/kmh-park. Opening its brand-new doors to the public in 2021, K Mall will welcome shoppers daily. Be the first tenant to open its doors in K Mall. Reserve your spot now at 099 888 596 or visit https://urbanlandasia.com/projects/k-mall for more information.Located across from K Mall, the signature 40 shophouses is designed to maximise opportunities for communal and commercial activities spilling over from the community mall.The 5.2m x 21m shophouses feature a lightwell that lets natural light in from the top of the shophouse down to the first floor, with corner windows facing the main road.5-metre wide walkable sidewalks, spacious parking and treelined streets are standards at KMH Park.Drone flies over KMH Park showcasing the construction progress of the initial phase 1 of the 40 shophouses and office tower (left), and K Mall (right) to be completed in phases over the next year.About K MallStrategically fronting Veng Sreng Boulevard, K Mall is just minutes from Steung Mean Chey intersection and Chom Chao junction. The new community mall is easily accessible via National Ring Road 3 and Hun Sen Boulevard from the south. With 12,000 sqm of leasable space spread over three floors, K Mall exudes vibrancy with exciting food & beverage options, convenient grocery shopping, entertainment, stylish fashion offerings, creating a one-stop shop for the local people’s daily needs in the heart of Veng Sreng.About UrbanlandFounded in 2013 by Cambodian architect Hok Kang and a member of the ISI GROUP, Urbanland has since gone on to earn a name for itself as a full-fledged developer with a particular penchant for aesthetically-appealing lifestyle concepts, as can be seen in its award-winning developments of Raintree (commercial), Embassy Residences and Embassy Central (luxury condominiums), and Siem Reap’s first luxury art & design hotel Treeline Urban Resort. Urbanland continues with another first - the new KMH Park masterplan development on Veng Sreng is a long-term vision to transform the existing industrial land to a mixed-use business and lifestyle hub with office, retail, residential, parks and green spaces.For more information about Urbanland’s projects, visit urbanlandasia.com.

Serviced apartments in Phnom Penh were growing in popularity prior to the global outbreak of COVID-19. Supplied.Serviced apartment rental quotations slid in Q2 2020, according to CBRE Cambodia. This downward adjustment was seen across the Grade A and B tiers of the market as a result of economic strains caused by COVID-19 and by the entry of new hotel supplies in Phnom Penh.According to CBRE’s Q2 market report, rental quotations (price per sqm) slide down by 13% and 10% for the Grade A and B segments, respectively, compared to figures in H2 2019. CBRE reports that while many tenants, especially expats, have vacated their rental properties, some agreements of 3 to 6 months have been signed within the recent few months. Though this has not made up for the lost market.Additionally, the report cited no new serviced apartment projects were opened and launched during Q2 2020. CBRE cites that the current supply of serviced apartments number 2,725 units, most of which are located in the highly commercialized areas of BKK1 (42%) and Daun Penh (24%). Hotel units are the primary competitor of serviced apartments as residential offerings are comparable to one another. As a result, the entry of new hotel supply is applying additional pressure on the serviced apartments sector on top of the stiffer competition caused by the dwindling tourist/expatriate market.In June 2020, the government enacted a $3,000 deposit and $50,000 insurance requirement from tourists and businessmen entering the Kingdom. The measure was designed to minimize the risk of infected persons from causing a second outbreak in Cambodia. Both the deposit and insurance requirements were eventually waived in principle by the Cambodian government to help ease the burden on its tourist sector.The relaxation of entry requirements, coupled with the announced reopening of schools starting in August, is expected to attract expatriate back in the country. Though it is unlikely that a quick recovery will be seen considering that most countries still have travel restrictions in place.Article by:

Are you ready to own the hottest property coming to Chbar Ampov? The Vue Aston’s VIP sales event is happening on August 1st and it’s offering big savings with cool prizes to win on the side!WHERE: Vue Aston Sales CenterWHEN: August 1, 2020 @ 14:00 to 20:00What can I get from the event?Participating in the Vue Aston sale event allows you to secure a discount when you make a qualifying booking fee during the event. And this booking fee is often where the promo ends, but not with Vue Aston!Vue Aston will double every qualifying deposited in value. This doubled value will then be deducted from the final sale price! This double deposit only applies to the following deposits made:Deposit $1,000 and it will be worth $2,000Deposit $2,000 and it will be worth $4,000Deposit $5,000 and it will be worth $10,000 (cap)The double deposit amount will then be deducted from the final sale price of the unit.NOTE: This deposit/booking fee is a non-refundable transaction. And the deduction will only apply for 10%, 30%, and 50%, full payment methods.Additional prizes such as TV, refrigerator, washing machine, air conditioning, and even a moto worth $3,000 - will be raffled off during the event!How do I join the event?Joining the event is easy! Simply register on the Vue Aston VIP Sales Event portal. Then on August 1st, be sure to confirm your attendance at the reception booth for the event.Get a FREE RIDE to the Vue Aston Sales CenterThere are multiple ways of getting to the Vue Aston event this Saturday, August 1. From cars to mobile apps, confirmed attendees can easily get to the Vue Aston Sales Center.To make things easier, confirmed attendees can download the LM Car app to get an easy ride. Participants can simply use the same phone number they used to register for the event to claim a FREE COUPON to use for a ride heading to the Vue Aston Sales Center.LM Car app link: https://cardownload.lemajestic.com/pc/ Article by:

An all-new holiday destination is opening this summer. But it’s not your typical holiday getaway as it’s opening right in the south of Phnom Penh! Holiday Outlets, a new premium outlet mall, will bring in never-before-seen international brands in the Kingdom, and serve as home to local entrepreneurs showcasing the products unique to Cambodia’s culture & traditions.Recognising Cambodia’s commercial successesRoyal Sino Investment Group (RSI), a private investment and management enterprise operating in Cambodia since 1996, has seen first-hand the massive growth the Kingdom has been undergoing in the past decade. Holiday Outlets is the group’s latest project aimed to contribute to that same growth by creating a venue where Phnom Penh’s increasingly savvy shoppers can satisfy their taste for something new.The first premium outlet mall in Phnom PenhHoliday Outlet will be the first premium outlet in the city featuring big international brands making their maiden entry into the Cambodian market. Several hundred stalls will feature familiar names most Cambodians have only seen in overseas markets. With Holiday Outlets, these foreign brands will be a quick drive down south in Meanchey district.But Holiday Outlets isn’t just about familiar brand names. After all, merely offering familiar brands aren’t exactly new.Nurturing local entrepreneurship and tourismHoliday Outlets takes inspiration from the traditional Cambodian markets that grew to identify the country as a prime tourist destination. Several hundred stalls are reserved primarily for local entrepreneurs looking to venture into developing their own business ideas.The Holiday Square, a section of Holiday Outlets, will house these stalls where tourists and locals alike can find new homegrown offerings such as food & beverages, gifts & souvenirs, clothing, and a whole lot more.With both local and international tastes being found in one place, Holiday Outlets is set to become Phnom Penh’s most exciting shopping destination.Breaking the retail outlet modelTo ensure a profitable income, Holiday Outlets provides a unique Buyback Scheme to all buyers.Buyback Scheme is an option that allows buyers to sell their purchased unit(s) back to the project owner to earn a guaranteed profit, by 130% of their purchase unit(s).Holiday Outlets offer two packages designed for young entrepreneurs, business owners, and foreigners.Package AIf you have plans to start a business in Holiday Outlets, Package A will have you covered with benefits such as:Kickstarting a business idea with a like-minded communityLow maintenance feeEntitled to 24-month Installment PlanEntitled to Buyback SchemePackage BIf you simply want to own a retail space and do not have plans to kickstart a business, Package B will be your go-to choice, with benefits such as:Immediate lease back to contract with the project ownerEarn passive income which exponentially increases over the yearsHassle-free managementEntitled to 24-month Installment PaymentEntitled to Buyback SchemeWith these flexible packages, Holiday Outlets will make it easy for young entrepreneurs and buyers to set up their business and flourish in Cambodia’s growing consumer market.*For package A, business owners have the option to sell the purchased unit back to the project owner after 5-years, 10-years or 15-years with their total capital plus an additional 30% profit (130% in total).*For package B, investors have the option to sell the purchased unit back to the project owner after 5-years, 10-years or 15-years respectively. For every 5 years, the total income increases exponentially, ensuring a highly profitable investment.For more information about this project, please call 092 92 1000/099 551 066 or visit https://holiday-outlets.com/.

Cambodia’s robust economic growth was severely hampered by the outbreak of COVID-19. The real estate market, in particular, felt its effects as both international and local buyers’ priorities shifted with the onset of the global pandemic.In Q1 2020, CBRE Cambodia, a property consultancy firm, released a report citing the first signs of a downward trend of property sale and rental prices due to weakening economic activity. And as COVID-19 continues to spread in the rest of the world, the same fears and precautions persist in the Kingdom, continuing to drag segments of the market down, but not everywhere.Condominium sales and rentsIn Q1 2020, CBRE Cambodia released a report citing Phnom Penh condominium sale price decreases of up 0.5% and 1.5% for the high-end and mid-range of the condo market, respectively. The affordable market during the same period, however, saw a slight uptick of 0.3%.The trend for each market segment continues in Q2 2020 as condominium sale prices further decreased by 4.0% for the high-end and 4.6% for the mid-range market. This puts market average prices for the high-end market at ~$3,200 per sqm and the mid-range at ~$2,600 per sqm. The affordable market, on the other hand, remained steady during the course of Q2 2020 at ~$1,550 per sqm.Rental prices in Q2 2020 continue the downward trend seen in Q1 2020. In the first quarter of 2020, CBRE Cambodia cited a quarter-on-quarter decrease of 0.4% and 0.6% for the high-end and mid-range segments of the market, respectively. This downward trend continues in Q2 2020 as mid-range rentals suffer a 5.7% decrease while the high-end market slumped down by 7.25%.According to CBRE Cambodia’s report, as negative corrections continue, it’s important to remember that the true extent of COVID-19’s economic impact is yet to be determined. Prices will likely continue to experience downward pressure until international travel restrictions are eased.Retail space rentsAccording to CBRE’s Q1 2020 report, the decrease in foot traffic in Phnom Penh’s retail centres saw a sharp drop due to the spread of COVID-19. Low retail sales have translated to quoted rentals rates being slashed by as much as 10.5%, the sharpest reduction in 4 years.The retail market in Q2 2020 continues to face this downward trend as rents in shopping malls have fallen by 11.7% for shopping malls and 2.48% for retail podiums. According to CBRE’s report, Google mobility indicators suggest that foot traffic to retail malls are still down by 17% compared to pre-coronavirus levels. This is an improvement, however, to the -42% foot traffic back in mid-April at the height of the scare in Cambodia.Office space rentsQ1 2020 marked stiff competition for tenants among office space landlords. The entry of new office buildings in Phnom Penh in Q2 2020 has piled on the competition and put pressure on Grade B office rentals in Phnom Penh.According to CBRE Cambodia’s Q2 2020 report, the rental rates across the Grade B centrally-owned office sector corrected downward with Grade B CBD & (non)CBD rents slipping, 3.14% and 2.89% respectively. However, Grade C CBD and Grade C-(non)CBD both adjusted upwards by nearly 8.00% and 4.50%, respectively.Article by:

As modern cities expand, large-sized residential units located in the center centre start to become more popular, especially with the high-end of the market. These opulent spaces, outfitted and styled with luxury fixtures, are often surrounded by amenities that make living in these spacious units a must-have for property buyers who only settle for the best.Popular examples of these large, almost villa-sized residences, can be found in the most coveted addresses from around the world such as 15 Central Park West in Manhattan, New York, One Hyde Park in central London, and the Cullinan in Hong Kong.Soon joining these collections of high-end properties is the luxury high-rise development of Sky Villa, located in Phnom Penh, the capital city of the Kingdom of Cambodia. And its handover, starting in August 2020, will see the first of Phnom Penh's residents experience true luxury at the center of South East Asia's next investment destination.The 140-metre high twin towers of Sky Villa are already garnering a status as the most desirable upcoming luxury development in Phnom Penh. It enjoys the comforts and conveniences of living in the city centre, while simultaneously offering the side breathing spaces usually only found in villas.The Sky Villa puts a great deal of focus on providing a sense of great artistic style. Its architect, C.Y. Lee, one of the designers of the famous Taipei 101, Kaohsiung 85 Sky Tower, and Chung Tai Chan Monastery, has lent his skill and talent in molding The Sky Villa into the next iconic landmark in the heart of Phnom Penh.Given the talent and skill behind it, Sky Villa sets a new bar for luxury residential architecture. It is the pinnacle of luxury living in Phnom Penh and sets itself apart from other developments with its extraordinary offerings.The Sky Villa offers a total of 256 units for sale. The units range from 270 to 509 sqm of living space, making them the biggest condos in Cambodia. These units were specifically designed for both personal and multi-generation living. The 34-storey twin towers are the latest landmark to Phnom Penh, a city dubbed “Pearl of Asia”, and it houses only four units of an apartment on each floor are built with extra-high ceilings between 3.6 to 4.1 metres.Sky Villa's magnificent grand lobby stands 10 metres high and is bathed in natural light. There are classy twin staircases leading to a banquet & ballroom on the mezzanine, ideal for special occasions requiring a grand celebration or the quiet luxury for private gatherings. Whatever it may be, the Sky Villa can host a wide range of events.To the top floor, a world of color is introduced. A spectacular sky-high view of the city indulges residents with the beauty of a developed cityscape. Surrounded by greenery and flowers, a variety of top-class amenities on the top floor including a shy pool, fitness centre, sauna & spa, kid pool & playground, and a bar serve you to your almighty well being. More than these, as to nourish both your body and soul, there is a Sky Villa Club with a wine room and VIP room serving the private catering and a reading area alongside.Each apartment in Sky Villa is a product of delicacy, exquisiteness, and luxury, and showcases talent and skills that create harmonies between urban life and nature.The Sky Villa’s in-house services make it a genuine extension of a luxury lifestyle as its staff can assist you in making everyday life much easier. These include organizing transport, housekeeping & laundry, grocery shopping, secretarial services, events planning, and many more. Its 24/7 concierge can help give you inside knowledge of the surrounding area; granting you a more vibrant experience of Phnom Penh’s many facets of business and entertainment.A four-storey car park is located underground and around-the-clock surveillance of CCTV is present to give you the peace of mind you deserve.A part of Sky Villa is dedicated to featuring an ample outdoor area embraced by rich greenery and clusters of flowers. Residents have the freedom to decorate and energize their home with a natural feel, regardless of the hustle-and-bustle of the city outside. Sky Villa definitely offers the best of both worlds for its residents.The Sky Villa sits on the Poland Republic Boulevard within the capital’s busy 7 Makara District, with Cambodia’s National Olympic Stadium to its South. The traffic convenience means BKK, considered to be one of the commercial go-to places in Phnom Penh, is just a short drive away!The Sky Villa is also close to a number of foreign agencies, embassies, banks, and other multinational companies headquartered nearby. Olympia Mall, however, would be the primary shopping mall for residents as it is just around the corner. Other malls such as AEON Mall 1, Russian Market, and Central Market, are all reasonably close by and offer great alternatives.Of course, city life offers more than fun and games. Families, especially, want a great place for their upbringing. A range of good schools are scattered all throughout Phnom Penh and most of them are located well-within 7 Makara. Sky Villa is a dream home for both individuals and families looking for every need and wants within reach.The luxury and leisure of lives in Sky Villa allows everyone to find a corner that they can call their own! So why the hesitation?The Sky Villa will soon be handed over to early buyers starting in August 2020. By then, it will become the new landmark development in Phnom Penh known as "Pearl of Asia". Ever dreamed of owning an apartment the size of a villa for an affordable price? Sky Villa offers the best of both worlds, just waiting for you.

Have you ever driven down Mao Tse Tung boulevard and noticed a house with a peculiar roof? Orange in color, curved, and pointed at its corners? It sits atop a house placed squarely in a wide plot of land, enough for a family or two, with enough breathing space to enjoy a relaxing weekend, even at the center of Phnom Penh. Many have seen it, and a lot have probably wondered who owns such a home.Well, that’s the home of one of Cambodia’s most prominent minds and once-chief architect, Vann Molyvann.Vann Molyvann rose to prominence in the 1950s and 1960s as the nation’s State Architect. He designed many of the iconic structures in Cambodia, including The National Sports Complex, Chaktomuk Conference Hall, and the Independence Monument.Vann Molyvann’s designs came to have a distinctive blend of modernist principles and traditional Khmer architecture, this combination underpinned all his works and soon came to be known as New Khmer Architecture.While his public works earned him his status as the Kingdom’s most prominent architect, his previous projects required him to take public use into consideration. When it came to the design of his personal residence, however, Vann Molyvann recalled the opportunity as a “chance to play”.Located along Mao Tse Tung Boulevard, his house proudly stands as an example of the New Khmer Architecture amid an area largely composed of rectangular townhouse-style shops and other traditional Khmer residences. Built back in 1966, Vann’s home occupies 924sqm of land and it was considered to be a masterpiece of home design during its time and a reminder of Cambodia’s rich intellectual prowess today. Designing his home became an outlet for his creativity, leading to its simple yet elegant facade incorporating exquisite details not found in many homes in Cambodia. His home features his iconic parabolic curved double-layered roof - considered to be a feat of engineering during his time. Vann designed his home to take advantage of Cambodia’s tropical climate by focusing on ventilation, spacious interiors, and the inclusion of other creative designs such as allowing sunlight to pour in while simultaneously shielding from its striking rays. Spending time within this piece of history allows one to see the fine details and ideas Vann pioneered throughout his illustrious career.Vann’s home consists of 2 floors with a total floor area of 768 sqm consisting of 4 bedrooms, 5 bathrooms, a paved covered lawn, a backyard garden, and a balcony on the upper floor overlooking Mao Tse Tung Boulevard.Its location, being quite centrally located, gave its residents the ease of getting to anywhere within Phnom Penh. The surrounding area is populated with dining, entertainment, and shopping options -- most notably the Russian Market, The Point Community Mall, and the AEON Mall 1, all of which are within 5 minutes' drive if not walking distance. Restaurants, retail shops, schools, banks/ATMs, hotels, clinics, pharmacies, bakeries, cafes, pagodas, churches, and other amenities, are well within reach.The Vann Molyvann residence offers the rare trifecta of having location, design, and is one of Cambodia’s landmark structures, from one of the country’s finest architectural minds. To own such a unique piece of Cambodian history grants its owners the unique leverage of an almost guaranteed increase in value over time, on top of living in a home designed by one of the Kingdom’s most prominent historical figures.Interested in owning the iconic Vann Molyvann Residence? You may reach out to the following details:(+855) 77 959 861inquiry@independentpropertyservices.comYou may also visit the Realestate.com.kh listing for the Vann Molyvann Residence to know more:Article by:

The Vue Aston, a high-rise residential development in Chbar Ampov district, will be hosting an exclusive VIP sales event on August 1st. The event will offer participants the opportunity to purchase property at the Vue Aston with savings up to $40,000 along with the chance to win additional prizes such as iPhones and motorbikes.The Vue Aston VIP sales event is organized by Peninsula Capital, in partnership with Realestate.com.kh, FazWaz, and HuiOne Pay. The event will be held in the Vue Aston Sales Center on August 1, 2020 and will start from 14:00 to 20:00.The Vue Ason is a 38-storey residential project developed by Peninsula Capital. It was designed by HKS Architects and Golden Mantis Decoration Company, both firms being known for their luxury interior design portfolios.The Vue Aston is one of the newer developments within the growing Phnom Penh metro. The Vue Aston offers a total of 895 units and with space up to 101 sqm, offering a wide range of unit types and sizes that can accommodate the city’s myriad of residential preferences.Its location in Nirouth sub district of Chbar Ampov places its residents away from the hustle and bustle of downtown while granting them the benefits of living in a modern urban environment. The Vue Aston itself complements its comfortable residences with facilities designed to enhance residential living such as fitness centre, sauna, and swimming pool.The Vue Aston, being a high-rise development, offers a fantastic and unobstructed view of the Mekong River. The development is located in the newly developing Norea Island where an upcoming bridge that will connect it to Koh Pich will soon be built.Aside from its attractive starting prices, the Vue Aston offers investors a guaranteed rental return (GRR) of 35% over the period of 5 years. Interested buyers can also avail of payment terms and bank loans to purchase property at the Vue Aston.The project is increasingly surrounded by many cafes, shopping malls, banks and restaurants, with more commercial developments coming in the next few years.The Vue Aston’s VIP sales event is open to all interested property buyers and investors. To participate and get savings on purchase, participants are required to register on the official Vue Aston VIP sales registration site. Article by:

On the morning of July 18th, 2020, H.E. Yim Chhayly, the Deputy Prime Minister, along with developers and other representatives of the real estate industry, gathered for the ceremonial groundbreaking of the multi-million dollar residential Le Condé BKK1.Developed by Wangfu Guoji Property Development Co., Ltd (WANGFU), Le Condé BKK1 consists of 43 floors and stands over 140 meters in height. The project is expected to become a new landmark within the highly urbanized district of BKK1.“Strategically cooperating with XiaoMi, one of the best technology companies in the world, we are very proud to present Cambodian citizens the first smart home residential project in Cambodia. We hope to let our residents enjoy the convenience of life with the latest residential technology.” Said by Mr. Ling Dong, the Executive Director of WANGFU on the ceremony.H.E. Yim Chhayly, the Deputy Prime Minister of the Kingdom expressed his gratitude to the developer’s contribution to the continuous development of the BKK1 district by bringing the latest residential comforts to improve the living standards of the Cambodian people.“Le Condé BKK1 is not only the largest residential project in BKK1, but the best! We are providing a revolutionary project with extraordinary amenities that will truly change the lifestyle of our residents. We are going to build the first Sky Jogging Track in BKK1, the first children paradise which is family-friendly, and the first real sky garden which is over 800 sqm.” Commented by Mr. Ling Dong, the Executive Director of WANGFU. One of the highlights of the event was the oath ceremony taken by the employees of Huashi Group, a leading global construction company. The company is responsible for the successful project of building the People’s Hall, a landmark of China’s Capital City Beijing and the world-wide famous casino hotel The Venetian in Macao City.   “We are one of the best construction companies in China and we have won 6 Luban Awards considered to be “Oscar Awards” of the construction industry in China.” said Mr. Xu Yongxian, General Manager and representative of Huashi Group in Cambodia. “We will fully support the Le Condé BKK1 and guarantee the quality of the construction to the highest level in Cambodia!”To reserve your smart home, please visit Le Condé BKK1 Showroom at No. 122, St. 352 and more information can be found at the official website at www.lecondebkk1.com or call the reception office at 096 229 9999.

JULY 2020 - Realestate.com.kh and HuiOne Pay announce the formation of a strategic partnership that seeks to benefit both parties within the Kingdom of Cambodia. Established in 2009 Realestate.com.kh, has grown to be the leading real estate platform in Cambodia. Which has over 20,000 properties for sale and rent from leading agencies and developers throughout Cambodia, with hundreds of thousands of local and international property hunters visiting the website and app each month.HuiOne Pay is an online payment platform adhering to continued financial technology innovation. As an online payment platform, it recognizes Cambodia’s increasing adoption of online payment methods and seeks to deliver high-quality online financial services for users in Cambodia. HuiOne Pay uses its expertise derived from the robust Chinese economy to develop Cambodia’s own online financial service portfolio.Realestate.com.kh and HuiOne Pay formed their partnership to maximize the benefits of mutual interests in the Kingdom’s real estate industry. The partnership also seeks to identify new business opportunities through continued collaboration, associated strategies, and the provision of business needs.Part of this strategic partnership involves, but not limited to:Joint online and offline marketing campaignsJoin offline marketing eventsDistribution platform cooperationPayment business cooperationWith both established digital platforms cooperating, Realestate.com.kh and HuiOne Pay firmly believe in developing their respective businesses’ scope, identify new opportunities, and ultimately, thrive in Cambodia’s growing economy.Realestate.com.kh Sales and Marketing Contact:Nara Tang+855 86 644 903nara.tang@realestate.com.khHuiOne Pay Sales and Marketing Contact:James Hu+855 23 230 800182828621@huione.com

Sihanoukville is seeing a resurgence in its image as a holiday/weekend destination as of late. This can be attributed to the developments capitalizing on its natural seaside beauty and status as the premier beach getaway in the Kingdom. Supplied.Recent slowdowns in economic activity caused widespread cuts in both public and private spending in the Kingdom. The Cambodian government, during the early stages of the pandemic, has taken the immediate action to allocate public funds to economic stimulus and social welfare programs for the duration of the global pandemic.Integral to this endeavor was the government’s decision to cut ministry budgets by up to 50% and suspend unnecessary overseas trips for government officials. The COVID-19 has greatly influenced Cambodia’s 2020 annual fiscal policy as it allows these freed up funds towards socio-economic support for Cambodians and nationwide infrastructure development.The government has also increased the budget of its “Cash for Work” scheme from $38 million USD to $100 million USD. This budget aims to kickstart job creation programs, rehabilitate canal & irrigation systems, and support other infrastructure development projects.The Cambodian government’s fiscal budget is reported to be $8.2 billion USD, of which $1.8 billion will be allotted to the development of agriculture and transportation infrastructure throughout Cambodia.Despite the global COVID-19 pandemic, China’s Belt and Road Initiative’s projects in Cambodia continue unabated. Projects such as energy, railroad, tunnels, bridges, and other civil engineering works are continually seeing progress throughout the year.As of H1 2020, the Ministry of Land Management, Urban Planning and Construction announced that construction investment in the Kingdom has reached $4 billion USD, a 13% increase from the same period last year. The source also revealed that the government has so far approved over 2,500 construction projects in the first half of 2020.Out of the approved projects, over 2,000 are classified as housing projects worth $1.8 billion USD. The source also showed that there are 36 Borey projects consisting of over 6,500 homes - estimated to be $650 million USD in value.Cambodia has done relatively well in containing the spread of the virus within its borders. The continuation of infrastructure projects and the expansion of socio-economic programs during the pandemic will do well in alleviating the plight of Cambodians and lead to the country’s larger economic recovery.Article by:

The Peninsula Private Residence has been a subject of much fanfare and excitement since grabbing the public’s attention in 2019. The attention has not been unwarranted as the Peninsula offers a landmark location and a vast selection of amenities - making it a truly exceptional residential choice for Phnom Penh’s residents.As we are now in the mid-year of 2020, the Peninsula has released a newsletter detailing the progress of its steadfast construction and updated information about its state-of-the-art amenities that earned them multiple awards back in 2019.STEADFAST CONSTRUCTION PROGRESSDespite the recent economic downturn due to the pandemic, the Peninsula Private Residences’ construction soldiered on to meet client and stakeholders’ expectations.As of the 30th of May 2020, the newsletter shared that the 25th floor’s concrete slab has been completed along with the fabrication and assembly work for the concreting on all walls for the 26th floor roof slab. The fabrication of form works and support for the roof of the 26th floor has also been completed.Additionally, the one-site MEP contractor installed the floor sleeves and socket following the structure work.SAFETY AND SECURITY PRIORITIZEDPeace of mind goes a long way in ensuring a healthy lifestyle. The Peninsula Private Residence has integrated multiple security measures to achieve just that for its residents. Tragic fire accidents can be avoided with the right precautions and systems in place. The Peninsula has spared no expense in ensuring that adequate measures and safety precautions are well put in place.MORE AMENITIES UNVEILEDWhile much has been said about the Peninsula’s spectacular portfolio, the newsletter went into more exclusive details about the astounding amenities residents will soon enjoy.Private Kitchen and PatioThe Peninsula Private Residence offers great views of the Tonle Sap and Mekong Rivers flowing on both sides of the Chroy Changvar peninsula. Its Private Kitchen and Patio which is located on the 22nd floor, complements these aesthetic views with warm home-cooked meals and top-class service. The Private Kitchen and Patio is laid out as a large open space that comprises an indoor furnished lounge fitted with a professional kitchen and an outdoor patio complemented with a barbecue pit, available for use during private functions and celebrations.Social Club RoomRecreational rooms are a must-have in any project that seeks to call itself as a provider of modern living. The Peninsula Private Residence certainly takes this to heart with their Social Club Room. Located on the 22nd floor, the Social Club Room is an open multi-purpose room allowing residents to indulge in many activities such as pool, card game, and watching a movie on the home theater system, and as many to their heart’s desire.Co-working spaceMuch has changed in how business has been conducted in the early months of 2020. The Peninsula Private Residences have taken on these new realities by providing residents with a co-working space right within the building. This co-working space can be found on the 22nd floor and allows residents to work from home in a conducive environment. It is equipped with collaborative furniture, projector, a writing wall made up of glass, and high-speed WIFI to cater to remote work, school project needs, or private tutor classes.The Peninsula Private Residence includes every staple of modern urban living and merges it into one luxurious package for Phnom Penh’s residents. Fortunately, units at the Peninsula Private Residence are still available, each one being standing proof of the development’s multi-awarded reputation.Article by:

Cambodia’s real estate market begins its path to recovery alongside the country’s many businesses, big and small. Supplied.While the Kingdom has done relatively well in containing the spread of COVID-19 within its borders, integral to this low infection rate was the closure of businesses that slowed economic activity. From businesses dependent on tourists, international businessmen, and even locals, wide swathes of the Cambodian economy felt their belts tighten for close to 2 quarters.Earlier in July 2020, the government allowed some businesses to reopen with conditions to adopt measures to curb COVID-19 infection. Businesses such as casinos, clubs, and KTVs have been allowed to reopen - a positive sign that the Cambodian economy will soon rebound. While there is no definite schedule for schools, reports indicate that authorities are mulling their reopening soon.The cabinet meeting last July 3, 2020, subjected businesses reopening to certain conditions. For example, landed casinos will be limited to slot machines and a few other gambling forms. Businesses who seek to restart operations will be required to get permission and meet certain requirements from the Ministry of Health.The Ministry of Education, Youth, and Sports have indicated that a plan will be set in place to begin resumption of much-delayed classes. The Ministry cited that the re-opening will be gradual in its approach; specific details, however, are not yet available.Cambodia’s real estate market was not spared in the pandemic’s economic effects. Developers, investors, and buyers alike have felt COVID-19’s sting in the past few months. The restrictions on international travel have deterred would-be investors from traveling to Cambodia and the limitations faced by raw material exporters have caused some delays in some parts of the construction sector. Buyers have also become cautious about buying a property during such an uncertain time.Despite the troubles, Cambodia’s real estate industry has found ways to adapt to the new market realities. The chief example is Realestate.com.kh’s Black Friday Property Sale held last June 12, 2020. Realestate.com.kh reported $15 million worth of property sold during the 4-hour sale event online. The event showcased that stakeholders in the country’s real estate market are willing to participate given the opportunity, and the right price.It’s worth noting that the most popular properties sold during the Black Friday Property Sale were mid-tier condos/serviced apartments and boreys.Real estate insiders, however, are not under any illusion that Cambodia’s real estate market this 2020 will be as robust as initially expected. While the sector has certainly slowed down inactivity, it has weathered what could have been a more severe contraction of the economy had the Kingdom’s infection rate became as severe as its neighbors.As gradual reopening of businesses begins, locals and investors alike can look forward to a return to prime economic form within Cambodia.Article by:

National road 4 serves a vital role in developing the Kingdom’s southern economic corridor. Photo by Dmitry Makeev.Plans for the southern economic corridor of Cambodia are slowly being unveiled as 2020 goes past its half-way mark. The region’s primary economic hub, Sihanoukville, is getting back up on its feet after construction mishaps and the uprooting of the once-thriving online casino industry in the city.Last April 2020, construction on Road 146 began under the technical supervision of the Minister of Public Works and Transport (MPWT). The project is expected to take around 28 months to complete and will cost $76 million, according to the ministry’s Facebook post.Road 146, a.k.a. Samdech Tep Vong Patriarch Safety road has a total road length of 43km and is built from the intersection of National Road 4 in Veal Thom village, Veal Rent Commune, Prey Nob district. The road will be designed for longevity and resilience as it will support heavy freight vehicles traveling through the southern economic corridor of the Kingdom.Another set of 34 roads in Sihanoukville province is reportedly approaching completion, according to the ministry’s Facebook post last May 2020. The construction and rehabilitation project covers over 82,000km of roads and is close to finishing ahead of schedule.This rehabilitation project seeks to ensure the longevity of Cambodia’s roads to support transportation and logistics amid its recurring flooding problems.A new 20-year master plan for the Sihanoukville International airport was unveiled by Cambodia Airport, the concessionaire of Cambodia’s 3 major international airports. The new development is designed to enhance the Kingdom’s airport capacity to handle the increasing volume of tourists and cargo coming through its entry ports.The master plan consists of two development phases, the first of which will be the development of the infrastructure that will soon command and finish in 2030. This phase focuses on developing the runway extension from the current 2.5km and expanding it to 3.3km  This phase also includes new aircraft stands, taxiways, and a new terminal.Upon completion of Phase I, Cambodia Airports is reportedly going to expand the terminal with additional support facilities to enhance the airport’s overall operational efficiency.The scale of the project has attracted the attention of the United States which has recently assessed the possibility of Cambodian airports accommodating Boeing-made aircraft.Article by:

There’s no denying that Phnom Penh’s growth is evident from the number of property developments and the expanding variety of commercial establishments servicing the Cambodian people. Phnom Penh, despite its rapid progress, is found wanting in the pretty lights department.But that’s all about to change.PixLed Media International, an out-of-home digital media company, is delivering the largest full definition LED screen in Cambodia. Located in the heart of Phnom Penh, PixLed Media Int’l seeks to reach their clients’ target audience with high-impact messaging at the right time.PERFECT LOCATIONPixLed Media Int’l placed its LED screen strategically nearby the Embassy of Australia, AEON Mall, Naga World, and Diamond Island, to name a few proximal landmarks in Phnom Penh. These high-traffic areas, in terms of foot and cars, guarantee advertisers millions of views on a regular basis.SIZE MATTERSDespite PixLed Media Int’l is an advertising company, its tag “biggest screen in Cambodia” is not just a simple marketing phrase. They constructed a full definition LED screen spanning almost 1000sqm across - a surface area bigger than some land properties in Phnom Penh. This makes it 12 times bigger than the previously biggest LED screen in the city.PROFESSIONAL IMAGINGTheir high pixel LED screen is calibrated to make advertisers’ images look sharper and overall better than other LED advertisements in the city. PixLed Media Int’l understands that consumers look for signs that the ad is legitimate, and they know that the most convincing proof is a professional-looking outfit.QUALITY REACHBy itself, the LED screen will attract attention. It’s big and it’s beautiful. But it’s strategic location grants it access to the many different walks of life in Phnom Penh, giving advertisers the largest possible exposure for whatever market they’re trying to reach.At present, no other digital screen in Phnom Penh can visually reach passers-by 2.5km away!QUICK FACTS ON LED ADVERTISINGPixLed Media International is a data-and-research driven advertising company. Every aspect of the LED screen, from its location to its composition were carefully considered to deliver the best possible results for their clients. One study they cite is by Irfan Khan, CEO of Skykit, a digital signage solutions provider. The first key take away being:Customers don’t just glance-they engageDigital signage makes an impression. Of that 70 % of people who recall seeing a digital video display in the past months, 47% specifically recall seeing an ad. That’s nearly half of all respondents.Passers-by do spend the time to lookIn a study conducted in Sweden, it found that drivers spend significantly longer looking at the digital billboards they pass by - longer than traditional billboards. After all, a bright, colorful, and animated display would be more eye-catching. And Phnom Penh’s traffic woes will certainly have drivers looking for much longer!Digital billboards stand outIn the age of online advertising, most companies have allotted significant resources in making their brands known on the internet. However, according to Skykit’s research, 71% of respondents felt advertising on digital billboards stood out more than online ads, and 46%^said they felt that these were more prominents than even television ads.Capturing impulsesEver thought of getting something sweet but aren’t sure of what you want? And all of a sudden, an ad for a candy bar suddenly pops up in front of you, the next thing you know, you’ve stopped at a convenience store to get that candy bar, specifically. If you’ve had a similar experience, then you’ve joined 19% of consumers who claim to have made an unplanned/impulsive purchase of a product they’ve seen advertised digitally.PixLed Media International will definitely give companies and their marketing a much-needed boost. The Kingdom’s growth has been phenomenal and it’s fortunate to see that modern companies and their technologies are pouring into the country every year.If you’re looking to market with PixLed Media International, and take advantage of their market expertise, you may reach them through the information below:Kimberly YoroPhone number: 016 564 970Email: kimberly.yoro@pixled-media.comWebiste: www.pixled.com.khFacebook: Pixled Media International Facebook

Serviced apartments in Phnom Penh often edge the competition with their service offerings and amenities, all for lower prices. Photo was taken from The View Residences in BKK1.Khan Boeung Keng Kang (BKK) remains the top spot for serviced apartments, according to a report by Knight Frank Cambodia. As of year-end 2019, Phnom Penh’s serviced apartment units totaled 5,999 units spread across 161 projects. Of these projects, 516 units across 9 projects were reportedly added by the second half of the year.According to Knight Frank’s report, the BKK district holds the most serviced apartments in the city with 36% of the total supply. It is followed by Chamkarmon district at 23%, Chroy Changvar at 9%, 7 Makara at 8%, and Sen Sok at 6%. The report also indicates that mid-tier serviced apartments maintained its dominant share in the market with 54% of the overall supply, followed by the high-end at 23%, and Affordable at also 23%. Knight Frank has recorded an upcoming supply of an additional 1,205 units, around 40% of which are classified as mid-tier developments.In terms of occupancy, the report indicates that the serviced apartments sector in the city enjoys an average of 73% occupancy rate as of year-end 2019. This occupancy rate can be broken down to Affordable serviced apartments having an occupancy rate of 82%, followed by Mid-Tier apartments at 79%, while High-end apartments only average 57% across all districts. The report suggests a price-sensitive market for serviced apartments.Serviced apartments in the city mainly cater to the demand from expatriates working in Phnom Penh. Due to their additional services and facilities, serviced apartments may continue to be preferred over traditional condominiums, according to Knight Frank.While the expected increase in the supply of serviced apartments bodes well for consumers, it may pose a new challenge to landlords of existing apartments. According to Knight Frank, the increasing supply may lead to tenants being gradually more selective due to a wider range of choices. Landlords may need to offer additional services or allow other concessions to keep a healthy occupancy rate, especially among long-term tenants.As more projects continue to be launched, tenanted properties, landlords, and related stakeholders will be expected to provide increasingly competitive pricing and flexibility in terms of tenant requirements. According to Knight Frank, the influx of expatriate workers has been sustaining the demand for this sector. Should this market experience disruption, landlords may be faced with tighter competition against condominiums and extended-stay hotels, all for the same shrinking pool of tenants.Article by:

Phnom Penh’s economic boom has led to many developments popping up across the city. And with each new project, the city’s property market is exposed to new ideas and ways to live in the Kingdom’s fastest-growing city. Plenty of these developments definitely have something unique to offer, a sort of good and incremental advancements in what’s already been defined as the gold standard of urban living.But when does it see another big leap forward?The ONE PARK takes every great aspect of the city’s burgeoning real estate market and combines it into one grand project. The ONE PARK is a low-capacity mixed-use development featuring luxury dwellings with commercial centers that provide its residents with the urban lifestyle that befits Phnom Penh’s status as the next regional investment destination.GRED, a Phnom Penh-based developer, in cooperation with DP Architects, a Singapore-based design firm developed the ONE PARK. It was completed back in June 2019 and now stands as a landmark development in Phnom Penh’s PPCC (city center). The PPCC is a known hub for both business and social gatherings which puts it close to many amenities, including vital public services, healthcare, education - all within a comfortable drive.The ONE PARK occupies an area of 79,000 sqm and is made up of low-rise buildings covering a total of 330,000 sqm. The grounds are surrounded by multiple gardens and man-made water features, making the ONE PARK the first-ever garden community within Phnom Penh. It's low-rise complexes structures range from 12 to 15-floor buildings made up of 1,334 luxury units accompanied by 1,614 parking spaces - a perfect combination for the next-generation of Phnom Penh’s residents.GRED contracted PIVOTA, an established property management company to handle ONE PARK’s daily operations. In addition to partnering with a team of experienced professionals, ONE PARK already boasts an impressive set of partnerships providing the complex with services from SCIA Singapore international school, the Oakwood - a five-star serviced apartment operator, and the Lane - a high-end international retailer; the community is certainly shaping into a landmark of Phnom Penh’s commercial and residential progress.The ONE PARK provides a series of finely-decorated apartments, including one-bedroom, two-bedroom, three-bedroom, and penthouse apartments, with sizes ranging from 69 to 146 sqm. They come with all that one needs for a new home, which means moving in is a breeze. Residents who live here may find much enjoyment at the playground, swimming pool, gym, jacuzzi, and sauna and at the many other opportunities to pamper oneself. Fun and enjoyment can be found at every corner of ONE PARK.Article by:

The long-awaited Black Friday Property Sale was held last Friday night (12th of June) which attracted over 20,000 interested buyers across both the website itself and the Livestream that brought the event to life during the 4-hour affair, where Realestate.com.kh linked buyers to Developers and Agents where a staggering $15 Million+ dollars’ worth of property was booked.The Black Friday Property Sale event was the first time in real estate history that an online property sales event has been held in Cambodia. The intention of the event was to galvanize the Kingdom’s property industry and stimulate the real estate economy during a time where travel restrictions and other global quarantine measures limit market activity across the board.The event brought together 30 leading condo, borey, and plot land developers and was supported by 100+ local and international real estate agencies, media platforms, law firms, banks, business chambers, and many more. The event attracted a multinational spread of attendees - with approximately 50% Khmer, 30% Chinese, and 20% mixed international visitors to the website.One buyer, who purchased during the event, said, "I heard about the event through Century 21 Fuji, and registered straight away. I was really impressed with the communication leading up to the event and was well prepared in terms of what to expect once the event launched.” The event came at the right time for him, saying, “I have been looking to invest in the Cambodian market for a while now, and was happy to buy a property at such a great price."A few of the developers who participated also shared their take on the Black Friday Property Sale:"It’s a good event because, tt made it easier for buyers to find and purchase the property at a great price ever. The fact that they can easily view different developments at the same time through their phone or laptop certainly adds value to it.It also helps developers significantly as we have difficulty reaching new clients during this time. The Black Friday Property Sale certainly helped us turn things around. We received 3 bookings and a whole lot of clients contacting us directly during the event for more information on the project.We understand that it’s the first big online expo in Cambodia by Realestate.com.kh, and it did encounter a few errors here and there. But we believe REAKH can solve these issues and make the next one even better."Mrs. Nhim Pich Panha, The Peninsula Sales Gallery Manager "We were initially hesitant to join the Black Friday Property Sales since it was the first of its kind in Cambodia. But I’m glad we did as we are happy with the results! It was a truly productive and exceptional event; we’re lucky to have partnered with REAKH and Mekong View Properties will definitely do so again!"Felix V CalimboSales and Marketing ManagerBun Ches Groups Co LtdReflecting on the event, Mr. Tom O’Sullivan, CEO of realestate.com.kh - the event organiser, said that, “We are delighted with the results, which is a great reflection on the strength of the Cambodia real estate industry. There is clearly a need for more housing in Cambodia and we were happy we could bring together the leading developers and agencies in Cambodia to offer some of the best prices the market has ever seen.” Tom O’Sullivan went on to say “We were really passionate about creating something that involved the whole industry through a pretty tough period, which has created many challenges across multiple industries, it also presented an ideal time to execute something like this. We know there are 1000’s of buyers looking to get into the Cambodia real estate market - both local buyers and international investors, and everyone always loves a good deal”.Exclusive developers, handpicked by Realestate.com.kh for the event were [Union Development City, Baoli (Cambodia) Real Estate Co., Ltd, Jindi East Asia Real Estate Development Co., Ltd., The Peninsula Capital Co., JianZhong YuTong Co., Ltd. Everhealth International Investment and Development Ltd., Romdoul Overseas Co., Ltd, Leshenwe Real Estate Development (Cambodia) Co. Ltd, Urban Hub, Borey VIP, Gracticity Realestate Development Co., Ltd, Parkway Investment Co., Ltd (Cambodia) Co., JV Parc 21, SGDP Development Co., National 6A, Creed Group, SJS Group, Hunter Estate, Prince Real Estate, KW, At Solutions, The Premier Land, Borey Sambath Meanheng III, Pointer Property Co., Ltd, Natha Residence, Chan Residence, Borey Ly Sovann, Bun Ches Groups Co., Ltd, Premium Group, Yin Yi Ventures, CBRE (L’attrait Property Development Inc.), CBRE (The Leedon heights Condominium Co., Ltd.)]Official affiliates who joined the event were [SEAPS, C21 Fuji, Amatak, CBRE, Property Area, Tnaot 柬埔寨头条, Sabay, 58.com, ATSolutions, B2B Cambodia, Beyond Design, BizKhmer, C21 Advanced, C21 Dream Property, Central Trust, Cambodian Investment Management, Coldwell Banker, CPA Realty, CPL, Dabest, Fazwaz, Grep Tech, Grobartig, HOTPROP, Huione, IPS Cambodia, ITA, Juwai IQI Cambodia, Key Real Estate, Khmer Times, Khmerload, Knight Frank Cambodia, Panasialife, RedBridge, Rentex, SKylead, Sovannphum, Towncity, YiFung億豐地產, 東旺]About the Realestate.com.kh Black Friday Property SaleThe first of its kind in Cambodia, the Online Black Friday Property Sale brought together some of Cambodia’s leading property developers as well as the best resale deals in the market, during the event property seekers were able to browse the properties and discounts that were only available for 4 hours. Buyers could then make a $500, fully refundable reservation fee to reserve the discount on the property. Proceeding the event buyers were then passed onto developers to close the deal and sign the SPA.Sales and Marketing Contact:Nara Tang+855 86 644 903nara.tang@realestate.com.kh

Prince Huan Yu Centre is a mixed-use development offering 49,000 sqm of office space come 2022. Supplied.The shift towards development for the wider mid-tier market is spilling over into Phnom Penh’s office sector.In H2 2019, a total of 4 new office buildings were inaugurated which added more than 50,000 sqm of office NLA. Out of the 4, 3 are classified as Grade B while the remaining project is classified as Grade C, according to a report by Knight Frank CambodiaAccording to the same report, the current overall supply for Grade B offices has now surpassed Grade A offices in Phnom Penh. The report indicates that, between 2020 and 2021, an additional 165,232 sqm NLA of office space is expected to be added into the current stock of 517,043 sqm NLA. Knight Frank indicates that 52% of this upcoming supply will be Mid-Tier whilst Grade A and C will comprise 18% and 30%, respectively.However, that’s not to say Grade A spaces will shrink in market share. Knight Frank’s data suggests that recorded office developments within the short and medium-term composed mainly of Grade B projects. Upcoming Grade A developments, chief examples of which are the Prince Huan Yu Centre and the Prince Financial Tower, will contribute a combined 140,000 sqm NLA. The report suggests that post-2022, Grade A offices will overtake Grade B offerings by a difference of ~200,000 sqm NLA. Overall, by the end of 2022, Phnom Penh would have a cumulative 1,200,000 sqm NLA of office space stock.Demand for office spaces continues to grow in parallel with incoming supply. Knight Frank suggests that despite this, the high supply will cause a subdued-to-negative effect on rental rates and office vacancies are expected to rise. Landlords will have to get creative in terms of pricing and other incentives to attract better quality tenants.The office vacancies are attributed to shifting office preferences among SMEs and large multinationals. Traditional office spaces are slowly being passed over for more co-working and serviced offices. Knight Frank cites Alpha Tower as one traditional office building that ceased operations in 2018 to reconfigure and renovate its spaces. When it opened in 2019, it marketed itself as offering a wide range of options including traditional office setups, furnished office spaces, co-working spaces, and virtual offices.At present, there are only 9 recorded co-working spaces/services offices in Phnom Penh’s city centre; spread over 8,190 sqm NLA. This supply is forecasted to double in the next 3 years, according to the report.Article by:

It’s the day we’ve all been for: The BLACK FRIDAY PROPERTY SALE. Get to see Cambodia’s top developers drop exclusive discounts on the country’s top developments from 4pm to 8pm GMT+7 TODAY!As of early June 12, thousands of unique users from all over the world, have registered for the Black Friday Property Sales. Each one of these potential buyers will be scouring through the event site for the best deals, so, you better reserve your discount before everyone else!Realestate.com.kh (REAKH) organized the Black Friday Property Sale as a way to connect buyers and developers during this time of economic slowdown; the real estate market has not been spared as properties across the world are seeing prices slashed. The Black Friday Property Sale event is where both Cambodian and foreign buyers can take advantage of this rare and unique opportunity to purchase property at more attractive prices.The Black Friday Property Sale features more than 30 developments across the Kingdom. Be sure to check our full list of participating properties here.TOP 4 FAQ about BLACK FRIDAYCAN I JOIN THE BLACK FRIDAY PROPERTY SALE?Everyone is welcome to join the Black Friday Property Sale, even if you’re not living in the Kingdom of Cambodia! Simply register for FREE in order to see and reserve the discounts on the featured properties. You may register through the link below:https://propertysale.realestate.com.kh/HOW DO I GET A DISCOUNT ON PROPERTY?Once successfully registered, you may log in to your credentials on the same website you registered in. Click on the “New Developments” tab on the top of your screen to see the developments and their respective discounts!Getting a discount requires you to pay a fully refundable $500 reservation fee. This fee essentially does 3 things:It applies the advertised discount on one selected property/developmentSecures your meeting with the developer (with the assistance of REAKH)A deduction from the final sale priceNOTE: Reserving a property/unit in a development does not mean you have purchased it.HOW CAN I PAY THE RESERVATION FEE?Payments can be made through Visa, Mastercard, or UnionPay. REAKH also accepts payments through the ABA Payment Gateway.WHAT HAPPENS AFTER I MAKE THE RESERVATION FEE?Once your payment has been confirmed, REAKH will contact you within 7 days to work out a meeting between you and the developer. This is where you can view the property for yourself and directly ask the developer questions!That should give you all the basic information you need for the Black Friday Property Sale today. Happy hunting!Sales and marketing contacts:Cheng Huyhong +855 98 526 671cheng.huyhong@realestate.com.khTrixia General+855 17 870 064trixia.general@realestate.com.khAlexander Sing+855 15 583420+61 434 644 957 (WhatsApp)Alex.sing@realestate.com.khSun Rattanak+855 17 884 161rattanak.sun@realestate.com.khNin Kang+855 78 637 323+855 93 552 305nin.kang@realestate.com.khSoun Sumey+855 77 241 285mey.soun@realestate.com.khArticle by: