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:

Japanese government-backed Japan Oil, Gas and Metals Corp (Jogmec) unveiled plans to step up exploration with another Japanese partner to extract minerals in Cambodia. The move comes after a preliminary study which found a belt of copper and zinc in the area. Despite being just the first step toward a full commercial mining venture, a senior official from the Ministry of Mines and Energy welcomed the news, saying that Jogmec can help to attract more Japanese firms to enter Cambodia in the gas and mineral sectors.According to a Kyodo news report, Jogmec has teamed up with Nittetsu Mining Co for a joint survey on the belt located in the northeastern province of Stung Treng. The Cambodian government granted exploration rights in late April to Nittetsu Mining (Cambodia) Ltd, a wholly owned subsidiary of the Japanese parent firm. In a statement to Kyodo, the firm said that the initial study was undertaken to narrow down potential areas for mineral exploration and that the belt was found last year. Ministry of Mines and Energy Secretary of State Meng Sakthear said Thursday that the process is still at a very early stage. He added that a full feasibility study would take another two to three years, at least.“It is a positive sign, but to be materialized there’s a long way to go,” he said. “Jogmec is like a bridge to help Japanese companies to do business overseas in the gas and mineral sectors. With Jogmec’s help we can show the potential of Cambodia, and attract Japanese firms to explore opportunities here.” Up to now, no commercial extraction has taken place in the Kingdom. However, later this year, two separate gold mines are set to begin operations in the country.The gold mines, operated by Indian firm Mesco Gold (Cambodia) Ltd and Australia-based Renaissance Minerals (Cambodia) Ltd, have already installed processing plants. They are currently on track to start refining extracted gold late this year and next year, respectively. Mesco Gold’s mine is located in Ratanakkiri province while Renaissance Minerals’ is in Mondulkiri.The other major player in Cambodia mining is Singapore-based KrisEnergy Ltd, which operates Cambodia’s offshore Block A. Oil extraction there is expected to begin late this year.For more information on industry in Cambodia, read our full Investment Guide 2019.Article by:

Today, only SingMeng Telemedia is able to provide multiple services under fiber optic network in Cambodia. SingMeng can provide any internet solution plus OTT TV, Phone, and smart community. What makes fiber optic network superior to any other network? Will this year, be the end line for Wireless and DSL network?Broadband connection has gained a lot of popularity over the last few years in Cambodia. There is a massive rise in this service amongst businesses where entrepreneurs want to promote their services and products over the web in quick and convenient manner. Due to high speed internet connection, downloading the files, uploading the video or images and chatting has become quite easy. Users do not find any issue of slow speed nowadays due to latest technology and connection. In last couple of year, fiber optic network has emerged as one of the best connections to provide high-speed access to the web world.ADSL, Wireless, Cable and Fiber Optics are some of the techniques to allow users to access the web world. Nevertheless, when it comes to access web world in high-speed manner then fiber optics is the best connection, which has also changed the way people-using internet in the past. This connection has very thin fibers built of glass that transmit the data and files through a fiber optic network. As the glass, fibers go via low level of reduction and hindrance, the connection becomes highly effective for telecommunication. Now let’s discuss why it is seen as the high-speed connection for condominium and commercial places:Fastest Speed: It is a fastest broadband connection that provides ultra-fast speed. With the use of innovative methods and latest technologies, the connection promises to give users high speed round the clock allowing them to send emails and files in ultra-fast speed. When it comes to compare fiber optics to cable connection & Digital subscriber line (DSL), then one will find that sending data or files is much quicker with fiber network even during peak hours. From live streaming to downloading video, everything becomes faster and easier with this fiber connection.More Reliability: Fiber Optics Network is also quite reliable as compared to cable connection & Digital subscriber line (DSL). Even during the power outrage, the connection remains intact as it is made of glass that required no electricity. It is also difficult for others to hack the network as mostly the system installed in the home of users.Temperature Fluctuation: The best thing with fiber connection is that it resists more temperature fluctuations as compared to cable and Digital subscriber line (DSL). On the hand, fiber optics network can be submerged in water as well without facing any network issue.Cost: It is obvious that when you are getting better services then you have to pay little more. Fiber Optics network is also little expensive as compared to other ordinary connections. However, when users are getting high speed then paying little more cannot be a bad decision. Today businesses are running over the internet and it is only successful when they have high speed and better connectivity round the clock.So keep in mind all the points, it is not wrong to say that Fiber Optics Network is best for those who want high-speed connection with safe and strong connectivity.Today, only SingMeng Telemedia is able to provide multiple services under fiber optic network in Cambodia. SingMeng can provide any internet solution plus OTT TV, Phone, and smart community. Discover SingMeng solutions: http://smtelemedia.com/Read the latest and greatest real estate news on realestate.com.kh today!Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh!

The fourth annual Cambodia Architect & Decor Expo kicked off their three-day event with an opening ceremony on Koh Pich Thursday. Around 180 brands and exhibitors have booths set up for the show.The event, jointly organised by ICVeX Co Ltd, Index Creative Village and the Cambodia Society of Architects, will show off nearly every facet of the home decor sector from paint to furniture.H.E. Lao Tipseiha, Secretary of State at the Ministry of Land Management, Urban Planning and Construction, delivered the opening remarks after being introduced by media personality DJ Nana. Tipseiha reflected on the huge progress of the industry over the last year.Also speaking at the opening ceremony were Sin Sochiet, President of Cambodian Society of Architect, and Chinakit Viphavakit, General Manager of the organisers ICVeX Co Ltd.“We believe it is essential for people to feel comfortable at home and in the office, and live and work in a good environment,” said Viphavakit, adding that the theme of this year’s event is “design for better workplace and living”.The event was also backed by Jotun, the official decoration sponsor, Architect ‘19, K Supply, L&E, TOA Construction, Brandex Directory, Construction and Property Magazine, Digital Pages, and Southeast Asia Globe.Need a quick brief on business in Cambodia? Read our Investment Guide 2019

Cambodia's first aquafeed plant will begin producing fish feed and seed this month in Siem Reap and will incorporate US soy into fish feed, according to a release by the project operators.The plant is a part of a whole project called Commercialization of Aquaculture for Sustainable Trade (CAST) which was initially launched earlier this year. The plan is backed by the American Soybean Association (ASA). It is set to run until 2023 and is backed by $17.1 million in funding from the US Department of Agriculture.“CAST will accelerate production of high-demand fish species for the Cambodian market and develop a lasting aquaculture industry,” ASA said in its release issued on May 30. “A key aspect of the project strengthens local production of high-quality feed and fish.”In addition to increasing access to fish seed and feed, the CAST project aims at strengthening links in the value chain – from hatcheries and fish producers to buyers and distributors. It will cover major markets in Phnom Penh, Siem Reap and six provinces along main waterway– such as Kandal, Kampong Cham, Kampong Thom, Siem Reap, Battambang and Pursat.Aquaculture is one of Cambodia’s most important sectors, with production growing by 17 percent in 2017 alone, to reach over 200,000 tonnes of fish. According to data from Open Development Cambodia, fish farming accounts for around a quarter of the Kingdom’s fish supply. To learn more about agriculture and industry in Cambodia, download our Investment Guide 2019.Article by:

Realestate.com.kh, Cambodia’s largest real estate website, has linked up with one of the foremost names in China’s property sector, Fang.com.The move comes as companies both in Southeast Asia and abroad are looking for new ways to connect with China’s massive consumer market. Earlier this week, it was revealed that 1,420 building projects worth a combined $2.7 billion were approved in the first four months of this year by the Ministry of Land Management. That number is up 21% over last year. Read more about the increase in approved real estate projects.Many of these new projects will no doubt be courting international buyers. Indeed, many of Cambodia's newest real estate developments are eager to find buyers in China looking to relocate to Cambodia, find an investment property, or even a holiday home.“Linking up with Fang.com means that Realestate.com.kh can connect property sellers, agents and developers in Cambodia with a massive pool of buyers both in China and abroad,” said Realestate.com.kh CEO Tom O’Sullivan, adding that the joint features would go live on June 10.What is Fang.com?Fang.com is a leading real estate portal based in China. It hosts listings from over 650 cities in 24 countries across the globe. The site averages around 120 million visitors a month and boasts 110 million registered users.Working with Realestate.com.kh means clients in Cambodia will have direct access to this massive pool of customers. Customers that would not have otherwise seen their property, agency or development.Fang.com Overseas Real Estate was established in 2010. Their property listings cover real estate in the United States, Australia, Japan, the United Kingdom, Singapore, Greece, Malaysia, Canada, and much more. It has successfully served more than 200 developers and real estate agencies overseas. New partnershipAs China and Cambodia become more connected through business, it’s no surprise that more and more companies will start collaborating across borders. Needless to say, the partnership between these two real estate portals will be the strongest outlet for anyone aiming to utilise property marketing across both Cambodia and China.Realestate.com.kh and Fang.com will work in collaboration to connect real estate professionals in Cambodia with buyers in all corners of the globe. And now, more than ever, with the millions of eager buyers in China.Stay up-to-date with the latest real estate news on the Realestate.com.kh news blog.

Prime Minister Hun Sen announced Monday that the blackouts are a thing of the past, explaining that Phnom Penh now has dedicated power reserves in case of droughts. Speaking at a graduation ceremony for university students from Royal University of Phnom Penh on Monday, the premier admitted that there had been hiccups in prior months due to the dry season sapping hydro-electric power.According to the PM, the government will reserve 400 megawatts power in 2020 to ensure the stability of Phnom Penh’s grid. He added that, in the event of another prolonged dry season, coal and petroleum power plants will pick up the slack.The PM backed up his statements by saying that two new pieces of power equipment were already in the process of being purchased and installed. Each piece being able to reserve 200 megawatts of power.“Phnom Penh needs to hold reserves of 400 megawatts. Now, [we] have already approved the budget [to buy new equipment] and have made an order to ensure that it will be completely installed in October,” he said, adding that one will come from Finland and the other from Germany.“Whenever the hydropower dam cannot produce sufficient power, the power from the engines will supply Phnom Penh. Next year there is no reason Phnom Penh will have power cuts.”Cambodia witnessed regular nationwide power cuts for nearly three months this year – from mid-March to mid-May. Many blamed dry season droughts which impacted production at hydropower dams, the main source of electricity in the Kingdom.According to Hun Sen, Cambodia is diversifying its sources of energy to include coal as well as renewable sources. Currently, there are three coal power plants in the country capable of producing a combined 370 megawatts of power. An additional plant is currently under construction. When it comes online it will be able to generate 130 megawatts.The premier’s comments are sure to garner cheers from Cambodia’s construction sector, which is in the midst of a massive boom.According to data from the Ministry of Land Management, Urban Planning and Construction, 1,420 building projects were approved in the first four months of this year. That represents a 21% increase over the same period in 2018. The approved projects are valued at a combined $2.7 billion. This total marks a 67% increase over the value of the projects approved last year.Want to win a free Phnom Penh vacation? Complete our annual survey and you could win!

Prime Minister Hun Sen said on Monday said that Cambodia’s internal revenue from customs and taxation increased noticeably in first five months of 2019, reaching almost 60% of the year’s target.Speaking to graduating students at the Royal University of Phnom Penh Monday morning, the PM said that revenues on taxes collected from January to May accounted for 58% of 2019’s year-end target. Customs revenue, meanwhile, was at 54% of the year-end goal in the first five months. “The culture of paying tax among our people is getting better and better,” he said.He did not provide any amounts regarding tax collection thus far this year. However, according to Cambodia’s national budget for 2019, the target for customs and taxation collection is set at $4.5 billion. The prime minister’s statements come on the heels of a move by the Ministry of Economy and Finance late last month to cancel a 1% withholding tax. This was announced during Hun Sen’s visit to Japan for an investment seminar. At the event, he trumpeted the Kingdom as a friendly nation for investments of all kinds.The Ministry of Economy and Finance issued a release on May, 29 on the cancellation of the 1% minimum tax which was announced by the Prime Minister Hun Sen in Cambodia’s investment environment seminar held in Japan. Withholding taxes are usually used as a means to combat tax evasion. Removing the tax aims to attract more investors to the country.Previously, commentators have championed the importance of taxation and customs revenue, saying it is a means to decrease the Kingdom’s dependence on foreign nations.To learn more about taxation in the Kingdom, be sure to head over to our Investment Guide 2019

On May 29, 2019, Prime Minister Hun Sen announced that the 1% withholding tax will be abolished. This move will be believed to attract much more foreign companies to set up their factories or businesses in Cambodia, that is bound to drive housing and office demand and promote the property marketplace.No doubt, Phnom Penh is the first eye catcher to Chinese real estate enthusiasts to the Kingdom because of its profound business resources. In the first quarter of 2019, the real estate market has become very dazzling with new high-rise buildings springing up. What you see is a city of building magnificence if you overlook Phnom Penh.More noticeably, Kampuchea Krom area, the most important administrative hub of the capital, has been enticing foreign investment with famous tourist destinations and prosperity of the real estate market, where the Baoli Mansion erects on.What makes Baoli Mansion stands out among other developments? Not only because of its prime location next to the Prime Minister's Office, or its competitive price, but also its commitment to quality and consistency, that values it as one of the benchmark of luxury dwelling.Excellent contractor walks the line with high qualityCambodian real estate is recently dominated by investable and self-occupied investment products. However, some developers often are blindfolded by quick return then overlook the quality of the structure. It is known to anyone that basically good return relies on sustainability of a property.Baoli Mansion has a strong philosophy of highground in living conditions, which enables habitors to enjoy lives of harmony and style.In order to ensure the construction quality to prevent mistakes, the developer teamed up with a Chinese state-owned contractor to operate, who is an experienced 4A-qualification enterprise ensuring the delivery of quality and safety to clients, has successively participated in the landmark projects in China, such as the Capital International Airport, the head office of Secretary of the General Office of the State Council, the National Grand Theatre, the Olympic Village, and the Yintai Center.A skillful and efficient builder teamExcept for quality, “orderly and quick” can be read in the schedule report of the construction, operated by a great team. They make sure that any buyer of this building have no any worry as like loss from a “paint a cake” projects.The Baoli Mansion constructed on a foundation of trust, has won reputation for its developer’s powerful executive in all aspects from personnel, equipments to materials reserving. It is the best example of performance for building projects in Phnom Penh by far.◆Progress on construction from May 9 to May 29, 2019As the skirt part of Baoli Mansion is soon to be finished, its main building has now entered the stage of constructing standard floor, at a time frame of five-floor completed every month. Thus far, it is expected to reach the tenth storey by June 5, and then the main structure will be capped at the end of September.Commitment and quality will, for sure, be guaranteed as it promised to investors.Home to elitesAs a premier luxury residence in Phnom Penh, apart from the wonderful structure, Baoli Mansion is also unique in its facilities and a scheme for invisible wealth.Baoli Mansion is a dream home on Kampuchea Krom, within a circle of administrative and educations, has convenient access to famous schools, hospitals and departments of government.And also the Mansion will gear you up by exciting facilities from sky bar, conference hall, banquet room, cafe to sky running track, gym, swimming pool and spa clubs … Shopping mall, 24-hour convenience stores and food and beverages bring you leisury and necessories to doorstep.Project detailsProducts: Serviced ApartmentsBuilding: 40,000m², 102m high, 28 storeysFloor plan: 47-57m²Developer: Baoli (Cambodia) Real Estate Development Co., Ltd.Sales price: average $2,200/m²Return on rental: 8% return per year, maximum two years Baoli Mansion is offering you a package of wealth and health investment to beat other opportunities and challenges in property market of Cambodia in 2019.  Whether you're looking for real estate for rent in Phnom Penh or real estate for sale in Phnom Penh, start your search with Realestate.com.kh.

Islands, bays and beaches are always irresistible holiday destinations for people who live inland. But why is this? Is it the ocean’s mesmerising sense of the infinite? Whatever it is, the feeling is certainly alive in Sihanoukville at Treasure Bay.Sihanoukville may not yet have the reputation of Boracay in the Philippines, the islands of the Maldives or Hawaii. But that could be set to change in the next few years. Indeed, more and more people are discovering the wonders of coastal Cambodia every year. Tourists from China have already heard the news and are coming for every major holiday.What was once a sleepy town is transforming into a gem on the coast. The economy is growing to new heights, fuelled by tourism, the country’s only deep sea port, and an expanding international airport.Recently, developers are bringing more high-end holiday homes to Sihanoukville. Treasure Bay stands in this category and aims to integrate technology and advanced standards into exquisite architectural design.And now the deal is even better! Treasure Bay is now offering buyers a 7 percent discount on grand opening sales!Treasure Bay will take your breath awayThe name is beautiful but the amazing building and seaside scenery will knock you off your feet. It’s located in the central business district of coastal Sihanoukville, an emerging city that combines tropical allure with world-class amenities. This project hosts 536 apartments in a key location of Sihanoukville. It’s nestled along a stretch of luxury resorts, just a few hundred metres away from Xihu International Hotel and Casino complex. What’s more, it’s just two kilometres from the Gold Lion Roundabout at the centre of town. This means Treasure Bay has access to all the facilities that the city has to offer. Just 200 metres from the beachfront, Treasure Bay is perched with amazing views of the clear waters of the Gulf of Thailand. This high-rise landmark will be unique with its curved facade and stylish design.The first phase of Treasure Bay will see a 30-storey apartment complex built. Units will come in various sizes and configurations. Most range from 23 to 98 square metres. They are perfect for business trips, couples or small families, or holiday homes. All are expertly decorated and come stocked with name brand appliances. This includes Toto bathroom products, Gree air conditioner, Haier refrigerator, TCL television and much more. Apartments also offer effective energy-saving solutions by using aluminum alloy from German high-end brand Dykeban, as well as hollow Low-E tempered glass for windows or doors. These are great for insulation and airflow. At Treasure Bay you will get a turn-key holiday home that stands above anything else you can find for the price.Treasure Bay has enjoyment around every cornerThe exquisite spaces here are laid out for efficient use. While the living room opens up to the dining room, the whole space feels large and spacious. Ventilation and lighting are perfect through the main corridor. Of course, the views of the ocean will astound you. Floor-to-ceiling glass ensures you can take in the beauty any time of day.Residents of Treasure Bay will have tons of facilities right at their fingertips. The top floor as an infinity pool, there’s an aerobics centre, a music bar, a panorama-view buffet restaurant serving both Chinese and Western food, a grand lobby, a multifunctional community service centre, and several massive parking areas. Enjoyment is around every corner. Treasure Bay also provides hotel-style property management and butler service, which is completely trustworthy. Exclusive VIP members will have access to a full range of extra luxury services as well as free airport shuttle.Treasure Bay is now offering buyers a 7 percent discount on grand opening sales!Look for real estate for sale in Sihanoukville or real estate for rent in Sihnoukville, visit Realestate.com.kh!

First-hand access to one of the biggest properties in the world has come to Cambodia. Vaun Property, newly established joint venture between top Australia brands Crown Realty International and Verve Real Estate, has set up shop in the Kingdom. Vaun Property’s name is currently attached to Melbourne’s Australia 108 residence.The skyscraper, billed as the tallest residence in the southern hemisphere, is understandably turning heads across the region. Indeed, Australia has always been on the radar of property investors in Asia. In Cambodia, Australia is seen as a place to pursue an education, buy a second home, immigrate or even retire to. Melbourne itself is a city of worldwide renown. The metropolis has won the prestigious Mercer award for “most livable city” a whopping seven times. Australia 108 is located in the trendy Southbank neighbourhood, right across the river from the CBD. This means residents there have unfettered access to some of the best restaurants, bars, retail shops, parks, and entertainment and cultural venues that the city has to offer. Once-in-a-lifetime chanceReflecting on the unique opportunity Australia 108 is offering to international investors, Vaun Property Managing Director Luke Vaughan said that people are already lining up for the chance to buy there.“We are finding this opportunity is too rare for our international clients to pass up … It’s only once in a generation that chances like this pop up.”He added that, given Australia’s foreign investment laws allowing international purchasers to buy new, Australia 108 is set to be a once-in-a-lifetime occurrence. Amenities aplentyAustralia 108 stands above the rest in height, but also with its top-tier luxury features. Design-wise the building itself and the interiors stand in a class of their own. Its sky-inspired shapes transition beautifully from the urban landscape below up into the clouds.The sky lobby on the 70th floor is a marvel. Being the tallest residence in the southern hemisphere means it hosts some of the world’s best views. Heading to the buildings sky garden is a sublime experience. It’s the perfect place for an informal meeting, relaxing with a good book or even enjoying a cup of tea.Let’s not forget the fact that there’s also a movie theatre, resort-style spa, and golf room. Every weekend can be a vacation when you live at a place like this. Then there’s also the onsite five-star dining. Any guilt you feel from eating too much there can be alleviated at the sky gym, which is packed with state-of-the-art equipment.Get your piece of historyGiven the high-profile nature of the Australia 108 project, it won’t be available for long. Only the most elite investors in the region will be able to get a spot here.Vaun Property is fresh off a series of seminars in Vietnam where they sold over 20 apartment units. They are, in fact, experts who specialise in real estate across Australia, with experience in the major cities of not only Melbourne but Sydney, Brisbane and areas all over the nation. Don’t wait for investors from other parts of the world to snatch up a property you’ve got your sights set on.So, if you want to have a piece of history, if you want an investment in one of the greatest countries in the world, if you want to own a unit in the southern hemisphere’s tallest residence, you need to act now. Contact Vaun Property Cambodia to find out more about Australia 108. And don’t miss Vaun Property's Cambodia launch party on June 8 at Phnom Penh’s Rosewood Hotel. There will be presentations by English, Khmer and Chinese speakers as well as tons of info on Australia 108.Use Realestate.com.kh to browse hundreds of investment properties in Cambodia. And click below to use our app!

Realestate.com.kh is excited to announce that polling is now open for the Consumer Sentiment Survey 2019. This survey will become one of the year’s most comprehensive sources of real estate data.It takes just five minutes to complete. You can complete the survey in English or Khmer. By filling out the survey you can be entered to win one of FOUR executive vacation packages courtesies of Lumiere Hotel and Snowbell Hotel.There are no stipulations to completing the survey. We want to hear from any and all of our visitors. It doesn’t matter whether you rent or own, or are planning to in the future. It’s your opinion of the market that matters. Do you think condos have gotten too expensive?Is renting still affordable?Which area of Phnom Penh is the best?Answer all these questions and more in our Consumer Sentiment Survey 2019.Win a free vacation or STAY-cationAbove is one of the lucky prizewinners from our last survey. Maybe you'll win this time! We’ve got many hotel packages to give away to survey entrants so make sure you give us your email address at the end of the survey. Whether you live in the Kingdom or abroad, you’ll get vouchers for free stays at one of two Phnom Penh Hotels.Lumiere Hotel and Snowbell Hotel are two of the most luxurious places to stay in the city.You might be the lucky one. Fill out the survey and win!