At this point, everyone knows about China’s One Belt, One Road policy. But how is it playing out in Cambodia? Well, impacts of the plan are being felt in Sihanoukville. The Kingdom’s southern port city is transforming before our eyes into a region hub for tourism, real estate, transportation and industry.With some of the best islands, and beaches in the country, Sihanoukville stands out as a gem of hospitality. What’s more, it is home to numerous special economic zones and the country’s only deep sea port. Transportation options grow in SihanoukvilleJust last month, in July of 2019, 9Air Airlines launched direct flight service from Guangzhou to Sihanoukville.Regional giant AirAsia, also recently launched regular flights connecting Bangkok’s Don Mueang International Airport with Sihanoukville. The route uses a 180-seat Airbus A320 and flies four days a week.A spokesman for the State Secretariat of Civil Aviation (SSCA), Sin Chancery Vutha said that, at present, Preah Sihanoukville International Airport has more than 500 flights a week. In the first five months of 2018, Sihanoukville’s airport received a total of 55,947 foreign tourists, an increase of 88.9 percent year on year. The airport is expected to welcome over one million visitors by 2021.Why are there new routes to Sihanoukville?Thailand is a very popular tourist destination. The direct flight from Bangkok to Sihanoukville will definitely lure visitors to make one more stop in Sihanoukville. According to insiders, it is foreseeable that the number of international travellers in Sihanoukville will be soaring in the coming months, and that the tourism industry in Sihanoukville will reach a new peak in 2019.Sihanoukville is linked to the capital by one of the best roads in the country. By sea, it is accessible from the Port of Sattahip in Thailand, 218 nautical miles away, 420 nautical miles to Ho Chi Minh, Vietnam, 603 nautical miles to Singapore, and 1,210 nautical miles to Guangzhou, China. With a very advantageous geographical location and convenient transportation resources, it will naturally transform into a new hub on the economic corridor in southern Cambodia.Multiple channels of transportation will help to realise Sihanoukville’s takeoff.The transportation development of Sihanoukville has made great progress in recent years with aviation, land and maritime transport. This coastal city is ready to usher in a new era of economic progress..From the sea, there is the Kra Canal. The new route of the Kra Canal to change the shipping route of the Straits of Malacca is going to accelerate the rapid growth of the Cambodian economy. As the first stop for docking, Sihanoukville will become much more vital to the Pacific region.By land, we see on the horizon the Pan Asian high-speed rail and Sihanoukville Highway. With the construction of the Pan-Asian high-speed railway, it will take only 3.5 hours by train to Yunnan province in China. The Pan-Asian high-speed rail will intertwine a network to promote the development of the regions covering Myanmar, Vietnam, Thailand, Singapore and others. This means a new flow of wealth within the economic circle around the Pan-Asian high-speed rail, including Cambodia.New flights to Sihanoukville on the wayBy 2020, the 190-kilometre highway between Phnom Penh and Sihanoukville will be open. By then, the trip from Phnom Penh to Sihanoukville will be shortened to two hours, which will be favourable for both cities.Up in the air, there are direct air routes linking Sihanoukville to the world. Sihanoukville International Airport has fixed flights every week to the major cities of Asean and China, whose southern part is about only two or three hours away by plane.The data shows that from March of 2016 to July of 2019, 29 direct flights from major cities of China to Sihanoukville have been launched, including Beijing, Tianjin, Zhengzhou, Xi'an, Shenyang, Wuhan, Changsha, Nanchang, Shanghai, Hangzhou, Wenzhou, Wuxi, Yiwu, Chengdu, Chongqing, Kunming, Guiyang, Guangzhou, Fuzhou, Shenzhen, Xiamen, Nanning, Jieyang, Sanya, Jinjiang, Zhanjiang, Shantou, Hong Kong and Macao. And there are more to come. Some new flights on the schedule are:Xishuangbanna - SihanoukvilleTaiyuan - SihanoukvilleNanjing - Sihanoukville Yichang - SihanoukvilleAt this pace, the number of direct flights from Sihanoukville to China, Hong Kong, Macao and Taiwan will soon reach 33! The quick expansion of Sihanoukville's air routes will inevitably lead to a great boom in the tourism industry. And the real estate market of Sihanoukville will be nourished by advantages of transportation, infrastructure and tourism. Once a small fishing village on the edge of the Gulf of Thailand, Sihanoukville is now on the path to becoming an international coastal metropolis. Do not underestimate the power of the future development property sector of Sihanoukville. Don’t miss out on Prince Tian Xi WanPrince Tian Xi Wan resort will lead the march of Sihanoukville into the future. Will you join the party or only wait and see? Don’t look back and regret not getting in on this opportunity.Board the train bound for golden shores. Enquire about Prince Tian Xi Wan today.Look for real estate for sale in Sihanoukville​ and real estate for rent in Sihanoukville, visit Realestate.com.kh today!

Condominiums are arguably the hottest type of real estate in Cambodia. Less than a decade ago, however, there were only a few condo projects in the capital. Most of them were geared toward expat clientele. Now, over a decade later, a new trend is emerging as Cambodia’s middle class are pushing the demand for property ownership.Ouk Chandaravuth, sales and marketing director for Seven Residence Co Ltd, has seen first-hand the growing desire for condo ownership among Cambodians.Daravuth said that, previously, there was a gap in the market as the demand for property ownership grew among locals. Condos, he said, are meeting that new demand. Growing demand for condo ownership was a significant factor that led Seven Residence to build The Seven Residence Condominium. The project is an affordable condominium, located in Sen Sok district near Aeon 2 Mall.“More and more Cambodian people are buying condos. They can get them for lower prices than previous high-end projects in the city,” he said, adding that The Seven Residence Condominium has sold nearly a third of its units since presales opened in January. Nearly all of the buyers, he said, are Cambodian.“In five years, Cambodian people will be buying more condos than landed properties [such as boreys]. If they want to buy landed properties, the price is higher, and the location is farther from the city centre. More will turn to affordable condos located near the downtown area,” he predicted.The Seven Residence Condominium represents a new trend in the Kingdom’s real estate sector. More developers are shifting their focus towards local buyers. This often involves keeping construction costs low and choosing secondary locations.Units in this segment are currently going for $1,400 or less per square metre. In other words, units usually clock in at around $50,000. Report shows growing affordable segmentAccording to a recent report by real estate services firm CBRE, 13 condominium projects have been completed and put on the housing market during the first half of this year. Nearly 70 percent of the units that came online, the report said, were condos in the affordable segment of the market. CBRE’s figures also revealed that at the end of June, the total condominium supply in Phnom Penh hit 16,657 units. Over half of those units were classified as mid-range properties, while affordable and high-end units split the remaining half of the market almost evenly. According to CBRE’s data from the second quarter of this year, the average price per square metre of a high-end end unit was $3,254. Mid-range and affordable condo units, on the other hand, averaged $2,568 and $1,501 per square metre, respectively. CBRE’s research and consulting manager, James Hewson, said that affordable condo developments have historically been a small section of the market. Now, however, there has been significant growth of affordable condos over the past six months.He added that international developers were initially drawn to the mid-range and high-end segments of Phnom Penh’s condo market because of the potential for high returns. However, many are now shifting their focus.“Now that there is a high supply of mid to high-end condo projects, developers are beginning to diversify by entering the relatively under-supplied affordable sector,” he said. “It is forecast that the affordable sector will see a sharp increase in supply over the next three years.”Most of the appeal for Khmer buyers, Hewson said, has been in the borey market. He added that much of the condo sector’s growth depends on infrastructure and accessibility. This is primarily a concern for affordable projects, which often choose secondary locations to keep costs low. “It is recommended that developers consider collaborating with the government to ensure infrastructure matches the rapid rate of real estate development currently seen within the city,” said Hewson.According to CBRE’s most recent report, completed condo units are set to hit 40,000 in Phnom Penh by the end of 2020. Over a quarter of these are set to be positioned in the affordable segment of the market. CBRE’s Hewson told Realestate.com.kh that the buyers within the condo market vary greatly. Many projects are marketed to a specific demographic. Often international developers will target expats, while local developers will target Cambodians.“This is demonstrated in the project L’ Attrait located in Chamkarmon district. A Japanese company developed the project, and Japanese buyers purchased 62% of the units,” he said. “This trend has also been witnessed in several Chinese projects, yet statistics are difficult to obtain.”  If you found this article interesting, you'll love our Investment Guide 2019: Property ownership briefing. Browse through or download your copy now.  Article by:

Sihanoukville has been reborn over the past few years. Investments flowing in are set to transform the harbour city into a resort oasis. What’s more, there are still affordable options. New Landmark is offering properties that start at just $40,000.One of the hubs of Sihanoukville is Ochheuteal Beach. It’s one of the most popular beaches in the country. It’s the perfect place for families on holiday, vacationers and more. There are high-end hotels, rich dining venues and, of course, the gorgeous natural surroundings. Soon, there will be a new structure that steals the spotlight among Sihanoukville’s skyline. New Landmark will be that building. Sitting just 200 metres from Ochheuteal Beach and right off the fabulous Gold Lion Roundabout is New Landmark. This complex represents the new trend of Sihanoukville. It illustrates a new urban identity for the city. Indeed, many buildings will follow New Landmark and take cues from its styling. Constructed by a subsidiary of China Construction Group, New Landmark boasts a floor area of 200,000 square metres. The complex seamlessly integrates four buildings. They consist of holiday apartments, a five-star hotel, a massive 10,000-square metre entertainment club and tons of commercial offerings. New Landmark units are the height of luxuryEach high-end luxury apartment is perfect no matter whether you’re looking for a holiday home or an investment opportunity. Units come exquisitely decorated, and built using brand name materials and top-tier hardware.Units at New Landmark come in a range of sizes from studio up to two bedrooms. The most common layouts are from 30 to 51 square metres. However, if you’re looking for an expansive space, New Landmark has units as large as 106 square metres. Right now, New Landmark has launched sales in the 37-storey Building B. It’s scheduled for handover in around two years. That means if you buy early you’ll be eligible for a massive discount. You could pay just $40,000 for a unit at New LandmarkFor early buyers, New Landmark is offering a spectacular deal. Buying a unit on floors 11 to 15 can lock you into a rental return plan of 12 percent a year for three years. This means that if you buy a 30-square metre unit you’ll only end up paying $40,000 to own it when everything is said and done. The average price of units is $1,900, but you can cut this down significantly with rental returns. Don’t pay full price with a deal this good!New Landmark is a state-of-the-art facilityNew Landmark is Sihanoukville’s first eco-intelligent community. It is set to use QR code access control, fingerprint locks, free wifi, drinkable tap water, golfing range, tennis courts, and strolling track.The large on-site business centre covers a wide range of businesses, such as convenience stores, banks, Chinese and Western restaurants, cafes, beauty salons, spas, gyms, private rooftop pools, and more.New Landmark also features a cultural centre, a public meeting room, a large underground car park, and the first musical fountain in Sihanoukville.Within one kilometre of the complex there are many hotels, restaurants, retailers, duty-free shops, and large-scale gaming and entertainment venues such as Gobo East, White Sand Palace Hotel, Jin Bei Casino & Hotel, where the life of fashion is inspiring and delightful.Don’t miss out on this deal of a lifetime. You can have your dream home for less than $50,000.Look for real estate for sale in Sihanoukville, visit Realestate.com.kh today!

Prime Minister Hun Sen recently unveiled plans to increase underground public parking lots in Phnom Penh. The hope is that these facilities will alleviate congestion in the capital. With real estate prices on the rise, however, only a few carpark projects are currently moving forward.  Speaking during a meeting with Cambodian people living in Switzerland last Wednesday, Prime Minister Hun Sen said he has advised Chea Sophara, head of the Ministry of Land Management, Urban Planning and Construction (MLMUPC) and Phnom Penh Governor Khoung Sreng to develop more public parking spaces, mainly underground parking. This, he said, is a move to stop using the sidewalks as parking spaces.“In Phnom Penh parks, [we should] use the underground area as parking. Otherwise, the sidewalks fill up with parked vehicles,” the premier said. “If only 50 percent of all Phnom Penh vehicles are on the road [at the same time], the city is deadlocked.” Car ownership rising fastAs living standards rise in the capital, transportation is one of the first areas people upgrade. Day by day, more people are upgrading from motorbikes to automobiles. Currently, Phnom Penh has very few dedicated parking areas, either public or private. According to the available figures from the Ministry of Public Works and Transport, there were 442,972 vehicles and 1.6 million motorcycles registered in Cambodia up to the end of 2016.Current numbers could be as high as 900,000. Officials from the Ministry of Public Works previous told the media that between 300,000 and 400,000 automobiles are registered in the country each year.   Phnom Penh Municipal Hall spokesman Met Meas Pheakdey said that the city is facing a shortage of public parking space as the number of vehicles is increasing. Pheakdey said that the capital has two functioning underground parking lots and three more currently under construction. He refused to give details on the forthcoming projects, only saying that they are nearing completion. “Underground parking lots are a big investment. We always encourage private investments for this type of project. They speed up development and help solve congestion issues,” he said Three more underground lots expectedAccording to Pheakdey, Oversea Cambodia Investment Corporation (OCIC) built the most extensive underground parking lot in the city. That lot sits in between Vattanac Capital and Canadia Tower in Daun Penh district. The OCIC lot spans 8,704 square metres across two levels and can host over 300 cars. OCIC’s CEO Touch Samnang said that the garage has been open since early 2018. He claimed that the underground structure has helped to reduce congestion in the area and, in turn, kept the street tidier.  “Without having appropriate parking lots, people park their vehicles right on public streets and cause serious congestion,” he said. “It is always a good solution to build more underground parking garages because there is no more space at ground level.”The other underground lot in Phnom Penh is part of the NagaWorld complex in Chamkarmon district’s Tonle Bassac.Vattanac Properties is reported to have submitted plans for a 5,000 square metre private underground lot of its own. Reports also claim that the area between Sunway Hotel Phnom Penh and the capital’s US Embassy is currently being outfitted with an underground lot. If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019

Cambodia has hit GDP growth of over 7 percent for eight years in a row. It has become one of the fastest-growing countries in the world. Sitting in the centre of that growth is the coastal town of Sihanoukville, home of Prince Tian Xi Wan development.Sihanoukville is home to the largest special economic zone in Cambodia, as well as the country’s only deepwater port. Mainly driven by China’s ‘One Belt, One Road’ strategy, Sihanoukville is on an accelerating pace of change.This growth can be felt in nearly all industries. Everything from shipping and tourism to manufacturing is growing. Here are a few of the key milestones coming from Sihanoukville:A highway linking Sihanoukville and Phnom Penh is currently being built.There are plans for new cargo terminals in Sihanoukville.Chinese companies have pumped US$2.8 billion into Sihanoukville’s deepwater port.The Sihanoukville International Airport is currently expanding.Offshore oil extraction is set to being by the end of this year.There are plans for an Asean International Conference Centre in Sihnoukville.Currently, there are direct flights linking Sihanoukville to 27 Chinese cities.Prince Tian Xi Wan, Sihanoukville’s most exciting resort projectPrince Tian Xi Wan is located in the coastal city of Sihanoukville. It’s adjacent to the provincial headquarters right off Victory Beach. Above all, it has some of the best ocean views in town.Prince Tian Xi Wan resort covers a total area of 340,000 square metres. It hosts a five-star hotel, the largest duty-free shop in Sihanoukville, a luxury shopping mall, IMAX cinema, private marina and a beach lounge. A 13,000-square metre sky garden is a highlight of the complex’s common area. It also boasts an indoor heated swimming pool, outdoor garden-style pool and 25,000-square metre intelligent parking lot.Amenities don’t stop there, either. The resort will feature boutique and luxury shops, a dining avenue, family amusement park, spa club, ice skating rink, KTV facility and much more.The project is expected to be completed in March 2023. Sleek apartments on offer here range in size from 39 to 127-square metres. If you’re interested, don’t hesitate to visit the Prince Tian Xi Wan sales office today. Want to inquiry Prince Tian Xi Wan, Click here. Sihanoukville follows the path of ShenzhenFollowing the trail of Shenzhen, China, Sihanoukville is not only the largest domestic special economic zone, but also, according to the National Industrial Development Strategy 2015-2025, will transform into a green industrial development area. By then, Sihanoukville will become the most critical bonded industrial zone and tourist destination of the Kingdom.Thanks to a series of individual policies, the industrial output of Sihanoukville has accounted for more than 50% of regional GDP. Enterprises that invest in and develop the Sihanoukville SEZ can enjoy the exemption from tariffs, value-added taxes and income tax for up to nine years.Just like Hong Kong, Sihanoukville is a free market port city. In recent years, the amount of foreign direct investment (FDI) has been soaring. For example, the amount of FDI in 2017 increased by 12 percent year-on-year.Gambling in Sihanoukville Sihanoukville also hosts legal gaming industry on a large scale. Seventy-six government-licensed casinos are running in Sihanoukville.In the first half of 2018, Cambodia yielded $18.7 million in taxes from the casino industry.Aiming to compete with Singapore, Sihanoukville is expected to become the largest deepwater port in Southeast Asia, boasting a 10km² free-trade seaport that is responsible for 90% of Cambodia’s import and export shipping. In 2017, the Port operator reached a turnover of US$52.14 million, a year-on-year increase of 16.8%.Japan has provided a concessional loan of $209 million to construct a new container terminal at the port. The terminal will span 350 metres and be 14.5 metre deep.Also, another more massive deepwater terminal, which is valued US$2.8 billion, has begun to be built by Chinese constructor in Victory Beach this year. Upon completion, it will make Sihanoukville the only city of its kind in Asia.Don’t miss out on Prince Tian Xi WanPrince Tian Xi Wan resort will lead the march of Sihanoukville into the future. Will you join the party or only wait and see? Don’t look back and regret not getting in on this opportunity.Board the train bound for golden shores. Enquire about Prince Tian Xi Wan today.Look for real estate for sale in Sihanoukville, visit Realestate.com.kh today!

Many developments have been kicking off construction in Sihanoukville province. What used to be a sleepy beach town is now an investment hotspot. Among the many projects, Borey VIP is one of the closest to completion. It will be ready for handover by 2020. Borey VIP has a unique sense of lifestyle and luxury. It is now offering the most exciting installment scheme for potential buyers. It is convenient and fast compared to similar projects. How much does Borey VIP cost per month?The project requires buyers to pay only $173 a month. Houses start at just over $31,000. Playing off success in the capital, Borey VIP is moving the formula to Sihanoukville. If you want to know more detials about borey VIP, click here. What are the advantages of Borey VIP in Sihanoukville?       1. High quality home furnishings from overseas. Each unit has two bedrooms and two bathrooms. Life here is convenient and relaxed.        2. The environment around the project is attractive. It hosts gardens and lounges. Residents of all ages can go for walks or just enjoy the fresh air.      3. Security guards ensure your safety 24 hours a day. You will always have peace of mind.       4. Currently, Sihanoukville has excellent opportunities for investment. International players are flocking there every day. This means your property will bring you profits quickly. Where is Borey VIP?Borey VIP sits along National Road 4 in Sihanoukville’s Prey Nop district. It’s close to markets, hospitals, schools, banks, and entertainment venues. It’s in an area that is growing more and more wealthy every day. That means that in the future there will be more opportunities and more business. The Borey VIP project hosts over 4,000 houses. Over 80% of the project is already completed. The plan will be 100% finished by 2020.This is an affordable housing project. There are many home sizes for you to select. All are 4.1 metres wide. But they range in widths of 10.75, 14 and 16 metres.  Borey VIP could be your only chance to get a hold of real estate this cheap in Sihanoukville. Don’t look back and regret ignoring this amazing offer.Look for a real estate for sale in Sihnoukville or real estate for rent in Sihanoukville today!

Three outer districts of Phnom Penh topped the list of rising land prices for the first half of 2019, according to a report from Key Real Estate.The document, released earlier this week, stated that Prek Pnov, Dangkor and Chbar Ampov districts were the areas that saw the biggest jump in land prices so far this year.Top three districts for land price growthPrek Pnov district rates grew by over 27 percent in the first six months of the year, according to the report. A specific example was given for central land in the district’s eponymous commune. Plots there started 2019 at between $280 and $1,500 per square metre. Now, the same plots are going for between $300 and $1,700 per square metre.Dangkor district came up in second place. Located on the south end of the city, the district still has some of the most affordable land in the city. Average prices there grew by over 26 percent over the first half of the year, however. Cheung Ek and Dangkor communes saw huge growth, plots in those areas rose to over $2,000 per square metres on the high end. Prataslang and Sak Sampeou communes remain some of the cheapest areas in Dangkor district. There plots along the main roads can be found for as little as $40 per square metre.Rounding out the top three was Chbar Ampov district. Land prices there increased by almost 15 percent. Land in that district’s Prek Pra and Prek Eng communes are going for between $300 and $1,000 per square metre. Communes like Chbar Ampov 1 and Chbar Ampov 2, on the other hand, host land that averages between $1,300 and $3,200 per square metre.Sorn Seap, founder and CEO of Key Real Estate, said that while average land prices in central Phnom Penh remain largely unchanged compared to last year, prices in the suburbs are growing fast. He added that Prek Pnov is becoming an investment hotspot, as infrastructure in the area grows near the ring road, National Road 51 and the railway station at Bandoeng Market. “Developments in neighbouring Sen Sok and Chroy Changvar districts have led to increases in land prices as well,” he said.Prices stable in centre of Phnom PenhReflecting on the growth in Chbar Ampov, Seap mentioned the recent 200-hectare expansion of Borey Peng Hout, which has attracted plenty of attention to the area.Dangkor district, he said, owes its success to the development of the second and third ring roads, Hun Sen Boulevard, new residential complexes and the upcoming Aeon 3 shopping centre. “I believe the city is expanding, that’s why property values are rising in the outer areas,” Seap said. He contrasted this to land prices in the central districts of Phnom Penh. Land prices there are relatively stable.According to the report, Daun Penh, 7 Makara, Chamkarmon, Toul Kork districts saw land price increases of 0.4%, 1.6%, 0.8%,  and 0.3%, respectively. These districts, however, still remain at the top of the list for land prices in Phnom Penh. Daun Penh, for example, has an average land price of $5,000 per square metre. Space in premium locations there can command as much as $12,000 per square metre.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019! Article by:

When Heng Sengly was hired as general manager of Park Café in 2014, he was ready to help grow the brand and boost its status in Cambodia. His strategy was simple: increase the number of outlets as the market grew in size.Back then, Sengly reflected, Park Café had six branches and the Kingdom’s food and beverage industry was much smaller than today. There were plenty of affordable locations with high potential, he said. Bringing in new customers was the biggest challenge. Four years on, however, the sector has changed completely.Now entering his fifth year as general manager, Sengly isn’t worried about growing his customer base. His challenge now lies in finding good locations that will remain profitable.“Food outlets, coffeeshops, and convenience stores have grown rapidly over the last three years and they are driving up real estate prices in Phnom Penh,” he said, adding that Park Café is currently operating 15 stores and spends about $5,000 per month per location on rent. “For the same location, we spend almost twice as much on rent as we did three years ago.”International brands come to CambodiaThe Cambodia retail industry has emerged as one of the fastest-growing markets in the region. Indeed, international restaurant and convenience store chains have come to get a piece of the action.Looking at coffee shops alone, industry insiders have estimated that there are more than 300 outlets in Phnom Penh, a city of under four million.CBRE Leasing Manager Thyda Pov attested that the retail industry has been growing at an unprecedented rate. The entrance of international brands, she said, has caused demand to rise for premium locations.“Currently, there is a shortage of space for standalone shops in commercial areas. Prime locations, such as the zone around Toul Kork’s TK Avenue, are almost full,” she said. “In the future, many retailers may look to malls instead.”Convenience stores clamour for spaceIn addition to the number of food outlets and coffee shops, convenience stores are also vying for premium spaces in the capital’s retail market.Super Duper, a Western-styled 24-hour supermarket that first launched in early 2015, is now operating four stores.US-based Circle K, meanwhile, officially launched Cambodia operations in February of last year. It now boasts 23 stores in the country. Earlier this year, the Bangkok Post reported that Thailand’s biggest mini-mart operator, CP All, is ready to bring the iconic 7-Eleven brand to Cambodia.Aeon Maxvalu, a sister brand of the famed Aeon Mall, is today opening its ninth store today in BKK1, at the corner of streets 63 and 306.Chey Ratana, Aeon Maxvalu’s assistant manager of operations, said another four stores are set to open before the end of the year. Ratana added that Cambodian consumer demands are changing. People are willing to spend extra to shop in a comfortable environment with air conditioning and top-quality goods, he said. “We have experienced rental fees rising for our shop locations. This trend can present a challenge for reaching our long-term expansion goals,” he said.Not all brands are worrying about rising rental fees, however.An executive at Super Duper, who asked not to be named, said that rental fees for standalone shops have increased only slightly in the last four years.Rising competition, he said, is pushing smaller names out of the market.“Some shops will close and we expect more location will be available in the future,” he said. “We hope rental fees will stay relatively stable over the coming years.” If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Article by:

Already a hotspot for investment from around Asia, Cambodia, especially its capital Phnom Penh, is particularly popular with high-net-worth individuals from China. The overwhelming changes in the Kingdom over the last few years have commanded the regional spotlight. Among a flurry of new developments, CPEC Roman Garden has caught the eye of many.Located in Phnom Penh’s blossoming Sen Sok district, CPEC Roman Garden sits squarely in the business zone. This ring of infrastructure includes the Phnom Penh International Airport, and many other amenities. CPEC Roman Garden covers an area of ​​1,200 square metres, stands beside two main roads, boasts floor space of ​​16,000 square metres, and hosts more than 200 luxury apartments. The building’s design is inspired by ancient Roman architecture. It elicits feelings of majesty, a rich cultural heritage and solemnity. Overall, it introduces a unique texture to the city. The 20-storey building is high enough to have magnificent skyline views of the city.Being tailored to Chinese clients in Phnom Penh, CPEC Roman Garden sits in the perfect locale. It is just a short drive away from the famous “China street” that runs past the Central Market. Indeed, this development is set to become a hallmark of the Chinese legacy in the Kingdom.Sitting just beside Road 2004, CPEC Roman Garden is close to Northbridge International School, 10 minutes from Phnom Penh International Airport, five minutes from Ratana Plaza, and 30 minutes from NagaWorld or Aeon Mall 2.CPEC Roman Garden benefits from accurate planning, ingenious design and a clear market orientation. It is uniquely suited for Asian individual investors.Key advantages of CPEC Roman Garden:A minimum price per unit of about US$60,000, an extremely low threshold for a property investment. In fact, the development has tons of different types of units. There’s something to fit every portfolio.The massive common areas in this development account for 40 percent of the space. Selling prices start at just $1,700/m².Handover is planned for August of 2020. This means you can start getting returns almost immediately. Plenty of payment options are available. You can either make one single payment or make interest-free installments over one year with a final payment of 34% on delivery. Constant demand for home renting in this area means that you can expect rental returns as high as 8% to 10% per year.At present, in the vicinity of , the price of apartments is usually around $2,300 per square metre. However, prices at the CPEC Roman Garden start from only $1,700 per square metre.This means that buying a 60-sqm apartment at the CPEC Rome Garden costs $36,000 less than a comparable space. What significant savings!More importantly, CPEC Roman Garden is developed by China CPEC Development and Construction Investment Co., Ltd., and constructed by a world's top 500, the China Railway 11th Bureau. It was designed by local famous architects and officials from the Ministry of Construction, who have worked overseas for 15 years and have many successful local cases. The quality has been undoubtedly guaranteed.Key points of quality:1. The common area accounts for over 40%. The floor height is 3.3 metres. The corridor is 2.3 meters wide, with floor-to-ceiling windows at both ends, it has excellent in light and airflow.2. With two different refined package to choose from, you can have a turn-key home for just $3,500-$5,500 extra. Or, you can add more personality to your space with basic furnishings like tile floors, painted walls, a fully-furnished kitchen and bathroom and Gree air-conditioners.3. It is designed to be a truly green building integrating aesthetics, architecture, mechanics, aerodynamics and other technologies.4. There is a rooftop swimming pool. This area is both indoors and outdoors so no matter what the weather is like you can enjoy and relax.5. Each unit’s air-conditioning unit has a special enclosure that traps condensation. This means that the water is recycled and can be used to water the plants on the building’s exterior and in common areas.Of course, CPEC Roman Garden offers tons of valuable amenities including an infinity pool, sky bar, auditorium dance room, gym, cafe, supermarket, three-storey car park and outdoor parking spaces, intimate and meticulous property service provided by a top-notch local experienced property operator and much more. Each homeowner can enjoy their life here and maintain peace of mind!Apartments come with a range of sizes from 37 to 98 square metres. Each one has a balcony which opens up to the amazing outdoor views. Single elites or small families can easily find their place here. Needless to say, it is easy to find a perfect space for your next investment.Look for real estate for sale in Sen Sok or real estate for rent in Sen Sok, visit realestate.com.kh today!

Cambodia is at a pivotal stage in its process of urbanisation. Experts at a seminar Tuesday in the capital said now is the time to push smart city technology.The event, dubbed Smart Cities and The Future of Urban Development, was organised jointly by the Kingdom’s CBRE, legal firm DFDL and construction company Archetype.Guillaume Massin, partner and managing director of DFDL Cambodia, said at the seminar that Phnom Penh is a fast-growing city and has transformed into a hub of economic development.“Ten years ago, we could not imagine how a large shopping mall or high-rise building [would appear],” he said, adding that new developments and the city’s international airport are already onboard with smart city principles.“There is more to come, but Cambodia is keeping up with other countries where it needs to be. I think it has quite a competitive advantage in terms of urban planning.” What is a 'smart city'?By definition, a smart city is a sustainable urban development that uses technology to address problems such as housing shortage, traffic congestion and environmental degradation.Phnom Penh, Battambang and Siem Reap are the three cities in Cambodia that have been included in the Asean Smart Cities Network. The municipalities are set to receive assistance from the Japan government in implementing advanced tech in their urban spaces.ASCN is seen as a collaborative platform. Usually, three cities from each member state are included in the initiative. Some developers in Phnom Penh have already started building up to ASCN specifications. Overseas Cambodian Investment Corporation’s Chroy Changvar district satellite city and Ing City, south of the capital, follow the initiative’s framework.Phnom Penh City Hall’s administration director Seng Vannak said during the discussion session on Tuesday that the concept of promoting smart city concepts is good but there are several challenges surrounding implementation. One of the biggest challenges, Vannak said, is increasing awareness among Cambodian people and help them navigate the changing urban space.“The main challenge is how to help people understand their place in the city and how they can be a part of its development.”If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Article by:

There are always some risks when investing in real estate. But risks are minimal as the project is close to completion. Blue Bay, one of the latest developments in the coastal city of Sihanoukville, is almost done. That means its potential is already clear.Sihanoukville, an emerging coastal city, is building up great potential and has become one of the most captivating investment destinations in Southeast Asia.One of the best ways to avoid risk when buying real estate is to buy projects that are already completed or near completion. However, in Sihanoukville, many developments won’t be finished for another few years. Blue Bay, on the other hand, will be ready to go in a matter of months.In fact, Blue Bay is one of the first high-end condo projects that will be delivered by the end of this year. The developer of Blue Bay is offering a fixed annual return of 8 percent for the first eight years to buyers. On top of that, Blue Bay is one of the condominium projects that are very close to the beach. That means when you open the window all you can see are blue sky, beautiful beaches and the oceans.What’s more, PPCB Phnom Penh commercial bank is working to provide mortgages to buyers up to five years. Don’t sit waiting for years. Start reaping benefits right now with Blue Bay now, click here.Breaking down Blue Bay’s advantagesCurrently, an ordinary hotel room, with no view of the ocean, near Blue Bay’s location goes for around $110 per night. This means monthly income here can be as high as $3,000.A conservative estimate would show that a 58-square metre apartment at Blue Bay could bring in $2,000 per month. This works out to $24,000 per year and almost $100,000 in four years.Units at Blue Bay are now selling for around $3,400 per square metre. That means the total cost will be around $200,000. Think about it: You could get annual returns of around 12 percent.Invest now and you could be eligible for a three-year preemptive property return. This opportunity is totally unique to this area and means you could get up to a 40 percent discount.As a testament to Blue Bay’s progress, the complex’s Building C was already completed in October of last year. Now, the countdown begins to the December 2019 handover. Homes at Blue Bay range in size from 58 to 100 square metres.Quick facts about Blue BayThe Blue Bay is located on Sihanoukville’s Independence Beach. Sitting on an area of 110,000 square metres, Blue Bay soars 37 storeys high. It hosts nearly 1,500 apartment units. Notably, 80% of the units have ocean views.Life at Blue Bay is convenient. The Gold Lion Roundabout is just a stone’s throw away. Many other attractions of Sihanoukville are near as well. Independence Beach, Ochheuteal Beach, Soka Beach, Victory Beach, Serendipity Beach, Koh Rong Island, Koh Rong Samloem Island, Bamboo Island, Monkey Mountain Park are all there for exploring. Blue Bay also has rich facilities. These include a premium gaming club, yacht marina, infinity pool, sky pool, beach volleyball court, featured Chinese and Western restaurant, roof canopy restaurant, beach bar, beach billiards room, business club, fitness centre, supermarket, cafe, property service centre and much more.What’s more, the famous five-star Wyndham Hotel and a large duty-free shop have signed on to join the project.Blue Bay also stands out in terms of design. Its modern architecture has detailed carvings and luxury at every corner. Living here is truly about beauty, wellness and style. Blue Bay’s building qualityBlue Bay uses the highest standards in its construction. Features include:Framework of high-density steel and concreteCommercial space on the lower levels with granite-tiled wallsFloor-to-ceiling windows framed with aluminium alloyInsulating double-paned glassAdvanced thermal insulation on both inner and outer wallsPlentiful options at Blue Bay are waiting for you. You can configure your unit to match your exact needs. Whether you want a holiday home, a place to generate rental returns or a second home, there’s something here for you. Don’t hesitate. Pay a visit now to Blue Bay’s sales office or contact us now via email or phone.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Registration for Cambodia Real Estate Awards 2019 is open.

Yun Min, Preah Sihanouk’s provincial governor has resigned, according to a statement on the Facebook page of Prime Minister Hun Sen. The resignation comes two days after a seven-storey building collapsed in the province’s capital, Sihanoukville.At least 25 workers are confirmed dead and 24 injured after the collapse of the construction project early Saturday. Currently, rescuers are still digging through the rubble searching for survivors.It wasn’t immediately clear what caused the collapse of the building. However, according to statements from Min on Saturday, work was being done at the site without proper permits.Min said that authorities had warned the building’s owner twice about issues at the site, and had ordered a halt to construction there.A separate statement issued by provincial authorities stated that the building was a condominium project on land being leased by a Chinese investor. The document also said that three Chinese nationals were in custody related to an investigation into the collapse.Committee established to monitor Sihanoukville construction safetyIn a Facebook post late on Saturday, Cambodian Prime Minister Hun Sen expressed his condolences to the bereaved families and the injured people and announced that the government would donate $10,000 to the families of each of the deceased workers $1,250 to each injured person.The PM visited the site of the collapse on Sunday. Meanwhile, that same day, an official letter was issued stating that a committee would be formed to supervise construction standards in Preah Sihanouk province.According to the document, the 13-member committee will be headed by Lao Tepseiha, secretary of state at the Ministry of Land Management, Urban Planning and Construction. The Chinese Embassy in Cambodia on Sunday expressed its “deepest condolences to the families of the victims” and pledged to help in rescue efforts at the site of the collapse.The incident comes amid a massive construction boom in Sihanoukville, mainly fuelled by investment from China and aimed at drawing in more tourists from the Asian powerhouse.To get more background on the area, read our ultimate guide to Sihanoukville.Article by:

Dozens of Korean companies in the construction sector have shown growing interest in Cambodia’s booming property sector. The firms, which are mainly building material suppliers, gathered this week for a roadshow at Sofitel Phnom Penh.Put on jointly by the Korea Trade-Investment Promotion Agency (Kotra), the commercial section of the Korean Embassy, and the Cambodia Constructors Association (CCA), the event was the first-ever road show in the Kingdom for nearly 30 Korean companies.Kyungmoo Kwon, director general of Kotra Phnom Penh, said on Thursday that the construction industry in Cambodia is booming and there are a lot of opportunities for Korean companies. He added that much of Cambodia’s construction materials are currently imported from China, Vietnam and Thailand.“We really want to introduce more efficient, safer and better quality Korean products and equipment to the construction sector,” he said.“After this first roadshow, we will expand to do roadshows about construction machinery and design, and seek more cooperation related to construction projects.” Korean investors lose prominence to Chinese counterpartsAccording to Kyungmoo, there are 40 Korean companies operating in Cambodia in the construction and real estate sectors. He said that as more enter the market, Korean-backed projects will gain a better image.Korean investors were originally considered first movers in the Cambodia construction scene. However, they have since been superseded by investors from China. The capital’s Gold Tower 42 was originally a project backed by Korean interests. Announced in 2006 the building was plagued by numerous delays. Progress sped up again this year and completion is forecasted for 2020.  Hann Khieng, vice-president of the Cambodia Constructors Association (CCA), said that Korean construction material suppliers offer a wide variety of products, which is helpful to the growing Cambodian construction sector.“The developers now have more choices. I see many attractive materials that are needed in the construction sector. Korean products are quality and the price is competitive.”If you found this article useful, you should read our overview of the Cambodia construction sector in the Investment Guide 2019.Article by:

Sovanna Shopping Centre, in Phnom Penh’s Chamkarmon district, will temporarily suspend operations starting in September in order to renovate. The complex, inaugurated in 2008, has faced stiff competition from newer capital shopping venues, the mall’s executive director confirmed Friday.Sovanna Shopping Centre’s Executive Director Chea Sokheak told Realestate.com.kh that the renovation was aimed at giving the mall a new look. She added that the venue would be closed for at least a year.Sokheak claimed that the building would continue to be a shopping centre, however, other types of spaces such as offices could also be included in the next iteration.“Current tenants can continue their business until the end of August. Starting in September we will start to refurbish the centre. It will be a large-scale renovation so it could take at least one year,” she said.  Sokheak did not give any data about the financial performance of the mall. However, she did confirm that it has been impacted by competition from the increased number of shopping venues in Phnom Penh.“Stronger competition always affects the business whether [the competitors are] big or small … The location of Sovanna Shopping Centre is still a good place and investors are willing to put up funds to make it better.”Sokheak said that it is normal for shopping centres to renovate after over ten years of operation in order to keep up with safety standards and visitor demands.  Concerning current tenants, Sokheak said the mall’s management company will compensate those with standing contracts. She added that many will be given the option to lease space at other shopping centres managed by her company.Following in the footsteps of Sorya Center PointLocated in the Chamkarmon district’s Tumnup Teuk commune, Sovanna Shopping Centre spans around 50,000 square metres across five floors. The mall is currently owned by developer Overseas Cambodian Investment Corporation (OCIC). In addition to Sovanna, the company also owns Sorya Center Point in Daun Penh district and Ratana Plaza Market in Sen Sok district.OCIC’s Sorya was Cambodia’s first modern shopping centre. Introduced in 2003, the complex sits adjacent to the capital’s storied Central Market. Sorya was considered the most successful shopping complex in the country until the Japan-backed Aeon Mall was inaugurated in 2014.Sorya itself was given a major facelift in early 2016. After the $5-million renovation, it was renamed Sorya Center Point.For daily updates on real estate, business and commerce in Cambodia, stay tuned to our news blog. And don't forget to use our listings if you're looking for real estate for rent in Phnom Penh!Article by:

The anticipated follow-up to the inaugural Cambodia Real Estate Awards is almost here. The Cambodia Real Estate Awards 2019 is set for later this year. It will take place at Phnom Penh's Sofitel Phokeethra. Entries are now open to all real estate agencies and professionals operating in Cambodia.Over 20 awards will be given out on the night in a variety of categories. Agencies will be split into two categories based on their size. To be sure, true excellence in the industry will be recognised.If you think your company is the best in the business, enter now. For more information about entering the awards contact Realestate.com.kh here:Email: info@realestate.com.khPhone: 090 921 000Make sure you get your entries in soon! We want this to be an all-inclusive event. ***ALL REGISTERED AGENCIES ARE INVITED TO ENTER!***After entries close the materials will be passed to the Ministry of Economy and Finance to verify that all businesses are legally registered in the country. NOTE: They will only be checking your business registration number.Then, the entries will be passed to a panel of distinguished judges. This year the panel will be headed by Dr Sok Siphana of SokSiphana&associates. Dr Siphana is highly accomplished lawyer and leading corporate figure who has been held in the highest regard by Cambodia’s real estate sector for many years.Judges on the panel will deliberate and determine a list of winners. The whole process will be audited by a third party to ensure fairness and due diligence at every step. Cambodia Real Estate Awards gala eventLater this year there will be a gala dinner at Phnom Penh’s Sofitel Phokeethra. It will be an evening of excitement, excellence and fun. All industry professionals are invited to book their tickets, dress their smartest and show up to this high-class event.If you are a winner you will be given a magnificent trophy and become a superstar for the evening and the rest of the year. Professional photo and video teams will be onsite to capture every moment and the awards will be broadcast live on Facebook and rerun on Cambodia TV via CBS.Winners will have exclusive use of the CREA logo to adorn all their business materials for the coming year. They will also have tons of photos and videos to use in their own marketing.Contact Realestate.com.kh to enter and book your tickets for the gala. Even if you’re not entering the awards you’re welcome to join the event and perhaps even buy a sponsorship.For more information about the awards, click over to the main page for the Cambodia Real Estate Awards 2019.

The six-storey Chip Mong Noro Mall in Boeung Keng Kang I (BKK1) district is scheduled to open shop later this year. The shopping centre is set to have a net leasable area of 7,400 square metres. According to the firm managing the mall, nearly 75 percent of the space is already fully booked by tenants and businesses. Located on Norodom Boulevard, between streets 360 and 370, Chip Mong Noro Mall is the first project by Chip Mong Retail, a subsidiary of Chip Mong Group. Thyda Pov, leasing manager of CBRE, the company responsible for managing Noro Mall, told Realestate.com.kh on Wednesday that the property began signing tenants early this year. She said that more than 75 percent of the leasable space has been booked.Thyda said that the mall is located in a prime location where demand is rising for retail options, residential and commercial buildings.“When the mall goes online, it will leverage even more potential from Boeung Keng Kang district.”According to Thyda, the construction of the building is nearly complete and the only work left is interior design of the mall. She added that tenants include a supermarket, cinema, bakery, restaurants, cafes, and entertainment venues. Additionally, the mall has a parking lot that can host 79 cars and 317 motorbikes. To stay updated on all real estate and business stories in Cambodia, sign up for our newsletter.Article by:

At the midpoint of 2019, Cambodia is continuing to see massive real estate growth. The supply of apartments is still on the rise, even after a blockbuster year in 2018. As a result of this growth, there is substantial supply in the real estate marketplace. Much of this supply exists in the home market and at the high end of the condo market. Look for condo for sale in Phnom Penh. Overall, it is becoming a buyer’s market and the prices are stabilising. In central districts of Cambodia’s major cities, structures are building higher and higher. Nowhere can this be seen better than in Phnom Penh’s BKK1. Residences and mixed-use developments are growing taller.To the south, Sihanoukville is becoming one of the most promising coastal cities in Asia. In fact, real estate insiders have already dubbed it the “next Shenzhen”. All agree that there is huge potential there for property investment and general commerce.An increasing number of Chinese tourists are flocking to the coastal area, causing the hospitality industry to blossom and fuel even faster development. Just in the first five month of this year, Chinese visitor numbers were up by 40 percent from last year. Estimates are that almost 200,000 Chinese expatriates have settled in the area.Surprisingly, there has never been a large-scale shopping centre in Sihanoukville. Soon, however, all that will change. By the end of this year, Prince Huan Yu Real Estate will complete the first one-stop shopping complex, Prince Huan Yu Mall, a brand new landmark for the people of Sihanoukville. This site will be yet another factor in making the city more attractive to visitors, and serve as a top-tier amenity for all in Sihanoukville.Prince Huan Yu Mall, set to open in November, spans 50,000 square metres. It is the first international-grade shopping and entertainment centre in Sihanoukville and it will usher in a new era of development for the coastal city.Many major brands have already signed up to sell their products and services in the mall. Tenants in the shopping centre will include Legend Cinema, Wink KTV, Levi’s, Chow Tai Fook, XiaoMi, Pandora, Nata, Skechers, Bering, G2000, ALDO, Pizza Company, Amazon Cafe, MingMen restaurant, Bashu Dazhaimen Hot Pot, LuYu, Lucky Sheep, Fuji Japanese restaurant, Binjhung Taste and many more.Project process updatesThe five-storey Prince Golden Bay Shopping Center has already been capped.Half of the partitions have been constructed.Fire protection, an air conditioning system and elevators have begun to construct.In fact, Prince Huan Yu Mall is just the starter of Prince Golden Bay, a massive mixed-use development project by Prince Huan Yu Real Estate.Prince Golden Bay covers an area of over 22,000 square metres and consists of a shopping centre and four apartment buildings which host over 2,000 units.Prince Golden Bay is located on one of Cambodia’s most well-known strips of coastline, Sokha Beach, just 300 metres from the water, and north of Sokha Hotel, a landmark of Sihanoukville.The location of the complex is an area that is home to many modern communities. Up to 50,000 people will be able to live in the area when all is said and done. It is sure to become the core of administration, business and culture in the entirety of Sihanoukville.Fashionable, seaside apartments are a highlight feature of Prince Golden Bay. Spaces here come in a range of sizes from 42 to 76 square metres. They are suitable as holiday homes or everyday residences and are sure to offer high future returns.The four apartment buildings of the complex are surrounded by a communal garden which hosts Southeast Asian tropical topiary. What’s more, there are amazing ecological gardens on each building’s roof. There’s also a large outdoor swimming pool and high-standard gym that allows you to relax and exercise.Like the most up-to-date residences, Prince Golden Bay will provide 24-hour butler home services. More customised services are also available such as chartering, property management services and much more, in order  to maximise satisfaction for owners.With Prince Golden Bay, Prince Huan Yu Real Estate is offering buyers flexible payment schemes. You can get a home loan of up to 25 years with down payments starting at just 30%, or around $20,000.Prince Bank will offer financial support and personal services to buyers. At Golden Bay you can get a quality payment plan with a good rental return.Prince Golden Bay is perfect for a holiday-home hunter or even a quick-return seeker. Here you have the beauty of nature at your fingertips.Search for real estate for sale and rent in Camboida, visit Realestate.com.kh. Or stay tuned for real estate news! To search for real estate for sale and real estte for rent in Cambodia, visit Realestate.com.kh!

Australian casino firm Donaco, which operates gaming facilities in the border town of Poipet, announced on Tuesday the appointment of Paul Arbuckle as its chief executive officer. According to a filing on the Australian Securities Exchange (ASX), Arbuckle is starting at a fixed annual salary of $279,000.The new appointment takes effect on June 12. In addition to Arbuckle’s fixed salary, he is also eligible to receive annual incentives in cash or equity of up to $279,000 per year.Serving as Donaco’s CEO, Arbuckle will be primarily based out of the company’s Star Vegas casino and hotel complex in Poipet. The company also operates the Aristo International Hotel in Lao Cai, Vietnam, just off the country’s border with China.“I am keen to roll up my sleeves and embrace the challenges at Donaco. The company has two very valuable and profitable casino assets, and I am confident that my experience in gaming operations will be beneficial to these businesses,” he said in the filling. “I can see the potential for these businesses in serving customer demand from Thailand, China, and beyond.” Gambling is illegal in both Thailand and China, so many people travel across the border to visit gaming facilities. Cambodia is increasingly becoming a gambling destination in the region. While betting is illegal for the Kingdom’s citizens, foreigners are free to lay bets. Read our guide to Cambodia casinos to learn more about the gambling industry in the country, and see our map of all the major casinos in the country.Donaco’s Star Vegas Resort & Club was established in 1999. It is currently the largest gaming venue in Poipet.The property hosts more than 100 gaming tables, over 1,500 slot machines, and 385 hotel rooms.Arbuckle previously served as chief operating officer at Star Entertainment Group’s Star Gold Coast casino, located in Queensland, Australia. He has also held leadership positions at Singapore’s Resorts World Sentosa and Australia’s Tabcorp Holdings.If you're looking for real estate for sale in Poipet, start your search right here.Article by:

When Seun Son spent $16,000 to buy a plot of land in Phnom Penh’s Preak Kampues commune in mid-2016, he did not expect immediate returns from the investment. After all, the property market in that area had little activity. Back then there were only rice fields and a few houses in the area. Son’s land, a 266 square metre plot, sold for just $60 per square metre. The only way to access the land was a small dirt road jutting off National Road 2.However, Son’s fortune came much earlier than he anticipated. One year after he purchased the land, Son watched as Hun Sen Boulevard was constructed. The massive new highway connected National Road 2 and Street 271. Then the floodgates opened.A number of high-end residential projects came to the area after Hun Sen Boulevard was complete. This included borey developments and, of course, plans for the third location of the massively-popular Aeon Mall. Plans for the shopping centre state that it will be larger in size than the first two locations combined.“The ongoing development projects surrounding Hun Sen Boulevard have made the price of land at my place increase enormously compared to three years ago,” he told Realestate.com.kh.Son added that he receives many calls every week asking about the price of his plot.“At the current market price, my land could sell for around $200 per square metre.” Developments lift Dangkor real estate valuesAccording to industry experts, Son isn’t the only land owner benefiting from the rise of development activity in the area.Dangkor district, covering the capital’s south and west, is seeing massive growth. Key Real Estate founder Sorn Seap claimed that Dangkor’s land prices were the third-fastest rising in the entire country.He added that the announcement of Phnom Penh’s third ring road was also a contributing factor to increased land prices. The land adjacent to the road, currently under construction, used to cost just $10 or $20 per square metre. Now the going rate is $100 to $150 per square metre nearby and as much as $50 per square metre off secondary streets.Ann Thida, director of real estate agent services at CBRE, said that Dangkor district has seen significant price increases. She speculated that prices could soon go as high as $200 per square metre near National Road 2 in Preak Kampues commune.“Whenever a huge development project appears, it causes land in the surrounding area to increase depending on its proximity to the project site,” she said. Seun Son, meanwhile, contends that Phnom Penh will keep expanding. He expects his land to soon be surrounded by residential and commercial projects. “I don’t plan to sell my land. I believe the price will be much better in the future.” If you want to get in on the action start browsing for real estate for sale in Dangkor district.Article by:

Entries are closing soon for Cambodia Real Estate Awards 2019 (CREA 2019). CREA 2019 is the second edition of the annual awards show celebrating the top-performing professionals, including leading agents and agencies, in the real estate industry in Cambodia, and recognizing their efforts to raise the bar in the industry nationwide.Organised by Cambodia’s leading property-focused marketing company, Realestate.com.kh, in collaboration with the Ministry of Economy and Finance (MEF) and Cambodian Valuers and Estate Agents Association (CVEA), the mission of CREA 2019 is to recognise the achievements of the Cambodian real estate industry objectively, fairly and inclusively by allowing all firms and individuals to join the competition regardless of the size or wealth of their operations.Registration closing soon for Cambodia Real Estate Awards 2019Realestate.com.kh invites all real estate agencies and agents in Cambodia to enter before the deadline, November 21, to get a chance to win awards."Whether you’re a small or big agency, you’re eligible to participate in this competition. Entry to CREA 2019 is free of charge, and there is absolutely no cost associated with winning any of the awards. The registration is still open and can be quickly done online. Please don’t miss this chance for you or your agency to be recognised as a top performer in the industry," says Tom O’Sullivan, CEO of Realestate.com.kh.Read more about the terms and conditions of entry here!To register your entry for winning the awards can be quickly done with three simple steps:1. Select the award categories you would like to enter2. Record a 2-minute video related to your entry (This short video is essential. It is your chance to convince and prove to the judging committee why you deserve the award.)3. Submit your video to Realestate.com.kh’s team via info@cambodiarealestateawards.comTo find out more, please visit the Cambodia Real Estate Awards website or call 092 92 1000.Why you should join the Cambodia Real Estate AwardsCambodia Real Estate Awards 2019 is a platform created to recognise the agents and agencies in Cambodia that have been working extensively to promote and continually improve the industry. It is also to celebrate the most excellent real estate practices by professionals throughout the country. Therefore, winning an award at the CREA 2019 can be a game-changer for agents or agencies.Values include:Recognition as a leader in the Cambodia real estate industryWinners are awarded the iconic Cambodia Real Estate Awards trophy and certificateThe ability to create/use marketing assets to leverage across the agent or agency’s businessRead more about value for winners here!Judging process for Cambodia Real Estate AwardsWinners of the CREA 2019 will be judged and decided by a committee made up of respectful individuals and professionals in the industry, in combination with public opinion obtained through online voting mechanisms on Realestate.com.kh’s website and social media channels.To make sure that the process is fair and free from any bias, Realestate.com.kh will remain independent and stay away from the judging process. On top of that, the whole process will be monitored with diligence by an established accounting and auditing firm, Cambodian Investment Management.CREA follows a globally proven model that awards excellence across the industry and guarantees transparency, objectivity and justice.The Cambodia Real Estate AwardsThe award will be divided into two categories, including Agent Awards and Agency Awards. Also, the agency is classified into two different types of agency determined by the number of employees, Corporate Agency for 1-15 staff and Enterprise Agency for the team of 16 and above.Cambodia Real Estate Awards for AgenciesReal Estate Agency of the Year (Corporate)Real Estate Agency of the Year (Enterprise)Best Up and Coming Agency of the YearRegional Agency of the YearValuation Company of the Year (Corporate)Valuation Company of the Year (Enterprise)Commercial Agency of the YearProperty Management Agency of the YearEmployer of Choice AwardAgency of Choice Award (chosen via public voting)International Agency of the YearCambodia Real Estate Awards for AgentsReal Estate Agent of the YearSales Agent of the YearRental Agent of the YearBest Up and Coming Agent of the YearAgent of Choice Award (chosen via public voting)Valuation Professional of the YearThe Cambodia Real Estate Awards 2019 is set for 12 December. All the shortlisted nominees and the broader real estate industry will be invited to join the Awards Ceremony and gala dinner at the Sofitel Hotel in Phnom Penh.Ticket sales and sponsorship for this prestigious event are now open!For tickets: Please call 092 92 1000 or email info@cambodiarealestateawards.comFor sponsorship: Please contactTYLER Stuart (English)tyler.stuart@realestate.com.kh+855 12 599 669 | +855 81 599 669NIN Kang (Khmer & Chinese)nin.kang@realestate.com.kh+855 78 637 323 | +855 93 552 305TestimonialCBRE Cambodia won the Commercial Agency of the Year in 2018 James Hodge, CBRE Cambodia’s director, said, “The benefit of winning an award such as this is the recognition in the market. People recognise that when you’ve won this kind of award, and your services are top-of-the-market.”“Definitely a great event, really excellent organisation,” he added.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Registration for Cambodia Real Estate Awards 2019 is open. Article by: