With its population reaching over 16 million and steadily growing, Cambodia is witnessing a rapid increase in people’s migration to bigger cities to look for work.The country’s capital city Phnom Penh, for example, now has a population of more than 2 million residents and is growing faster than the city’s resources allow for, including housing.Having seen this growing housing demand, many local and international developers took the opportunity to develop numerous housing projects ranging from condominiums, villas, and boreys, often in the suburbs as the city expands.Boreys, sometimes referred to as gated communities, have been growing in popularity for the past years amongst developers and are favored by home buyers given their practicality and affordable price.A recent report from VTrust Appraisal predicts that the number of boreys or landed houses in Phnom Penh will reach nearly half a million by 2030.Keo Rady, Marketing Manager at LeJu Development Cambodia, told Realestate.com.kh that the company is striving to be a leading real estate developer for Phnom Penh’s growing housing markets. To reach that goal, the company has developed “an affordable yet high quality” housing project called Borey LJ, he added.Mr. Rady stressed, what is so special about Borey LJ is its location which is in Por Senchey, one of Phnom Penh’s fastest-growing districts, surrounded by local and international schools, big shopping centres, hospitals, and many other facilities, and only a 10-minute drive from Phnom Penh International Airport.“Houses in Borey LJ are well-designed with 30-meter-wide streets. The construction of this project is well-managed and “closely monitored” by a British engineer with years of experience in construction, he added. “The project was granted with all the legal permission documents and the company will provide hard titles to its buyers.” Houses in Borey LJ start with a total floor area of 94 to 173 square meters with land size from 68 to 189 square meters, and an affordable starting price of $64,400. Borey LJ is a good product for new families who want to own their first homes, he added.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.

With a total height of 829.8 meters above the ground, Dubai-based Burj Khalifa condo remains the world tallest structure since 2009. Situated on the Southeast coast of the Persian Gulf and Dubai, the capital of the United Arab Emirates, it is home to the world's most gigantic shopping malls, restaurants, bars and more impressively is the Dubai musical fountain.Located on the other side of the world, over 5000 kilometres away, a similar story is being created in Sihanoukville, Cambodia. Inspired by the unique and impressive design of Burj Khalifa, Prince Real Estate Group, the China-based property developer with years of successful real estate developments, wants to impress the world with its Prince Tian Xi Wan project.The Prince Tian Xi Wan is a mix-used property development located on the waterfront of Victory Beach in Sihanoukville. It is going to impress the world with its unique designs and is the second to none high-end coastal resort that none would surpass for quite a while.One and only superstar rated hotel in SihanoukvilleWith the ultimate goal to help Sihanoukville, an emerging city, to transform as a world-class tourist destination, Prince Tian Xi Wan will serve tourists from all over the world visiting Cambodia with its super five-star rated hotel, the only hotel in Sihanoukville to achieve such recognition.The availability of such accommodations will allow Sihanoukville to welcome any tourists, including those looking for the luxurious travel experience.Prince Tian Xi Wan has 393 spanning over a total area of approximately 48,000 sqm. The complex also homes to the finest restaurants, swimming pools, gyms, spas and other recreation services, that make your stay more enjoyable and memorable.The 24-hour butler room services will perfectly satisfy and fulfil any of your needs and requirements to make your experience of staying as pleasant as possible. On top of that, it is not only an excellent place for leisure vacation in Sihanoukville. It is also a perfect place for business meetings.The largest duty-free shop in Sihanoukville"The world is so big. I want to see it the most," a very popular sentence among Chinese people. For them, it means that they are always ready to pursue better life experiences. For them, Chinese tourists, shopping in duty-free shops full of big brands across the world are part of the journey exploring new experiences and must-visit places.Prince Tian Xi Wan hosts the largest duty-free shop in town that offers both locally-made and internationally-produced luxurious products. Come and enjoy the fashionable and jaw-dropping scenery of various world-class brands at Prince Tian Xi Wan International Duty-Free Shop.The latest technology of IMAX cinema in SihanoukvilleWhat is so special about the IMAX cinema at Prince Tian Xi Wan? All the theatres are equipped with high-quality audio and video systems, designed with wide-angles, great-slop structures, which definitely will amaze you with the ultimate audio-visual feasts.The first beachfront amusement park in SihanoukvillePrince Tian Xi Wan, as of now, the first and only place that has a beachfront amusement parkin Sihanoukville, including indoor swimming pool, water sports, children's playground and family game areas.All these facilities definitely will escalate your excitement right next to the beach nowhere else could offer as such. If the amusement park is not your cup of tea, you can go snorkelling, or playing with pure white sand or take a dip.The first luxury shopping avenue in SihanoukvillePrince Real Estate Group also aims to provide visitors to Prince Tian Xi Wan with the best experience of shopping that ones could feel when going to shop at world-famous shopping avenues such as Champs Elysees, Fifth Avenue and Bond Street.It hopes such attractions will drive more people to Cambodia. Prince Tian Xi Wan's shopping avenue has plentiful options of top brands from gems, jewellery, watches and many more products. You name it.The first private yacht marina in SihanoukvillePrince Tian Xi Wan is also home to the only and one yacht marina in Sihanoukville. It offers a variety of activities and facilities. You will find something that you like to try or to experience. On the other hand, it is not only just a marina, at Prince Yacht Club, there will also be exclusive parties exquisitely organised by a professional team to optimise the sailing experience for the visitors.For those who yearn for a poetic and graceful life, the Prince Tian Xi Wan is a dream home right at the beautiful shore. An encounter with the Prince Tian Xi Wan is the beginning of your new romance with the Southeast Asia region. Choose a beautiful home at the Prince Tian Xi Wan and live your life to the fullest.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.

For the last couple of years, the coastal town of Cambodia’s Sihanoukville, once a sleepy town, has experienced major developments at a very fast pace, especially in the real estate sector. As the city expands, the demands for urban lifestyles and luxurious housings increased. Having seen the potential and rapid increase of modern housing demands in Sihanoukville, Leshenwe (Cambodia) Real Estate Development Co., Ltd, a joint venture of two real estate development companies from Cambodia and China, have joined together to participate in the fast-growing real estate market of Sihanoukville to jointly develop a project called “Leshen The Lord Garden", a uniquely designed residential project of boreys and low-rise apartments. Leshen The Lord Garden is located along National Road 4, surrounded by markets, schools, hospitals, public infrastructure, recreation facilities, and much more. The project is sitting on over three hectares of land. It consists of 315 multi-type borey homes. There are three types of boreys at Leshen The Lord Garden, ranging from two to 3.5 stories. These homes are 4.2 to 4.5 metres wide and 14 to 17.9 metres long, all with their own distinctive designs and characters.  The borey section of Leshen the Lord Garden has a floor area of approximately 56,000 sqm and covers a site area of more than 37,000 sqm. The design aims to give the example of low density and high comfort residence. Its units start from $880-$1000 per sqm, or a minimum total of $110,000.Units at Leshen The Lord GardenEach unit at Leshen The Lord Garden project is well-thought, to make sure that the high quality of construction is reached and the relaxing experience of buyers is guaranteed, with high quality decorations, stylish kitchens and modern appliances equipped bathrooms. A great addition to this project’s design is that the ground floor of every borey house can be used for commercial or retail which provides easy access to the residents, leveraging the experience of living in the Leshen The Lord Garden to a greater level. The project is set to be completed by the end of 2020.High standards guaranteed at Leshen The Lord Garden Leshenwe (Cambodia) Real Estate Development Co., Ltd, is committed to providing its customers the best out of their hard earned money that means it is strived to provide them with the highest quality of their loving homes. The comfort and memorable experiences of its customers are the main considerations of its projects, to assure that, the company hired the best design company with many years of experience designing big projects to design Leshen The Lord Garden.  Also to make sure the high quality standards of construction are met, the Leshen The Lord Garden project has been closely monitored by experts from the Cambodian government at every step of the construction. Leshen The Lord Garden’s project B set for openingWith huge success and great supports of Leshen The Lord Garden’s project A, Leshenwe (Cambodia) Real Estate Development Co., Ltd, has announced last week that units in its Leshen The Lord Garden’s project B are up for grabs. The sale of the Leshen The Lord Garden’s project B was officially opened on August 25. The grand opening of project B was attended by representatives from both partnered companies, government officials and potential buyers.  As of now, with unique, sleek designs, high standards of construction with good quality materials, the company has sold more than 85 percent of its luxurious residential homes in the  Leshen The Lord Garden’s project A, according to Mr. Chuan Li, the company’s marketing manager. He added that the construction of project A has completed about 70 percent. The company predicts the same result for its project B, given the great support it received in the first project due to the reputation the company has built and the commitments it has to provide its buyers the most loving and comfortable future homes where the families can cherish every moment together. To learn more about the main types of housing in Cambodia, refer to our Cambodia expat guide.

SingMeng TV is one of the best HD TV providers in Cambodia. Today, fiber internet technology is becoming more powerful than ever. SingMeng TV is the first TV solution working directly with a fiber internet connection. This new TV generation will provide you the latest technology, experience and convenience on the market. What makes SingMeng different from other TV providers? A real HD TV viewing experience, anytime and anywhere with your fiber connection.More than 120+ live TV channels and hundreds of movies and dramas on demand for your home with the best of both Khmer and international entertainment. Time Shift Program system that allows you to watch past programs for up to seven days! Direct access to YouTube, YouKu & iQIY Apps from your TV. Multilingual intuitive and interactive interface. How does it work? SingMeng TV works with any fiber internet provider in Cambodia. You just need to connect your fiber internet cable to our set top box and our team will provide you full support for the installation. *SingMeng TV solution without set top box is available for premium hotel and condo buildings. How much is SingMeng TV? SingMeng TV is available for $8.80 per month (VAT included).  You will get full access to our Video on Demand, streaming and our multiple functions as well as more than 80 channels. Additional packages are also available, like Premium Chinese, HD or sport channels.For more details: http://smtelemedia.com/About SingMeng Telemedia: SingMeng Telemedia is a Triple Play and High Quality Broadband Service provider in Cambodia.They provide Fiber High Speed Internet solutions (Home, Business and Corporate), Multi-media solutions (OTT TV, Smart community, Mobile TV App) and Voice solution (VoIP) as well as a large range of high quality broadband connectivity’s solutions for business and corporate.Customer Service: 096 6661 888/089 966 888SingMeng Website: https://smtelemedia.com/SingMeng Facebook: https://www.facebook.com/singmengcambodia/#SingMeng #SingMengTV #FiberInternet

Cambodia’s most popular real estate website has announced yet another property expo at Phnom Penh’s NagaWorld complexThe Realestate.com.kh Expo 2019, set for October 4 and 5 at the NagaWorld Resort, is the fifth major expo put on in the Kingdom by Realestate.com.kh. Over $100 million in property has been sold at past events, with around $30 million changing hands at last year’s event alone.This year’s event is set to be sponsored by international logistics giant ZTO Express.All the biggest names in boreys, condos, land, law, agencies, construction, architecture and home decor will be on hand. It will be the most important real estate event the country has ever seen.Also joining the event are Aru-Me Metal Co., Ltd., Baoli Mansion, Bel Air, C-Herald Property Service, CPZY Development, Creed (Zelkova), HuaYe Real Estate Investment Limited, HYO International, KH Land, La Vista One, MAA Architecture & Design, Morgan EnMaison, Morgan The Pure Bay, Morgan Tower, New Landmark, Pafillia Property Developers, Prince Huan Yu Real Estate (Cambodia) Group, Prince JinJia Real Estate (Cambodia) Group, Prince Real Estate (Cambodia) Group, R&F, TCC, Toul Kork Lane, Unicom SciencePlastic (Cambodia) Co., Ltd, Urban Village, Victory Bay and Yi Fung Real Estate.Benefits of joining Realestate.com.kh Expo 2019The Realestate.com.kh Expo will bring in thousands of local and international property buyers. Most importantly, these people will be ready to buy now. In addition to this amazing pool of buyers, exhibitors can also expect to rack up hundreds of sales leads that will continue to pay off as the year unfolds. Branding is another key reason businesses are joining the show. Exhibitors will become known as leaders in the local property market. Indeed, the show will bring the chance to network with all the biggest names in every corner of the sector. Media outlets sign on to promote the eventMarketing the huge event has already to pick up speed. Realestate.com.kh has signed up the biggest names to help spread the word about the once-in-a-lifetime show.Chinese heavyweights 58.com and Fang.com are set to attract thousands of international investors to the show. Meanwhile, local media partners will pull in hundreds of expats and Cambodians in the country who are shopping for real estate. Names include Property Area Asia, Fresh News Asia, EuroCham, Biz Khmer, Thmey Thmey, Business Cambodia, The Cambodia China Times, Forward Asia, Khmer Times, Nice TV, Gold Zone Media, Grep Tech, B2B Cambodia, Angkor Today, CTN, Khmer Load and My TV.But space is limited at this spectacular event. If you or your company is interested in sponsorship, booth space or advertising with the event, contact Realestate.com.kh now!Nin Kang (Chinese/Khmer)nin.kang@realestate.com.kh+855 78 637 323 / +855 93 552 305 Tyler Stuart (English)tyler.stuart@realestate.com.kh+855 12/81 599 669 Or, for more details visit the Realestate.com.kh Expo 2019 homepage!

Mortgage loans in Cambodia continue to surge this year, according to Credit Bureau Cambodia (CBC). The credit body’s consumer report showed that outstanding mortgages hit $3.42 billion at the end of June.CBC’s data showed that loans have increased by 30 percent from the same time last year. Mortgage loans make up over 47 percent of the total consumer credit in the country, which hit $7.16 billion at the end of June.Mortgage customers are also growing, albeit at a somewhat slower pace. CBC’s document noted that there were 131,376 mortgages at the end of June. This represents an increase of 19 percent over June of 2018.So Phonnary, executive vice president at Acleda Bank, said that the 30 percent growth of mortgages is positive for the industry. She claimed that opportunities for homeownership are expanding as incomes rise and the economy develops. “We are seeing more growth in the mortgage industry. But, at the same time, we are always careful about development and we mitigate risks by balancing loans across many sectors.”According to Phonnary, Acleda’s housing loans, home improvement loans, and real estate loans together hit $273 million at the end of June. This sum was held by 7,913 customers at that time.While loan terms differ from one bank to another, she said that annual interest rates have, on the whole, fallen. Phonnary attributed this to greater competition in the marketplace.Cambodia upgrading to more comfortable lifestyleNuon Rithy, chairman and CEO of Khmer Appraisal Foundation (KFA), said that there has been good cooperation between the financial and real estate sectors in Cambodia. The two industries, he said are growing rapidly in parallel.Rithy reflected on the changing demographics of the country, adding that more people are entering adulthood and wanting to live more independently than their parents did. “Before, when people had lower incomes, the biggest concern was having enough food to eat … Now people have higher incomes and they want to upgrade to a more comfortable lifestyle.”Even those who could already afford to own a home are now upgrading to larger homes, or homes in better locations, he said.Officials concerned over high-interest mortgagesOne caveat to the CBC’s report, however, is that it only accounts for mortgages taken through financial institutions. It is very common in the Kingdom to enter into a payment plan with the home’s developer. This is particularly popular for boreys, the landed homes that are usually built in large subdivisions. The popularity of developer-issued mortgages has exploded in the Kingdom over the last few years. Typically, these are 25-year contracts and rarely require down payments. Though these mortgages initially appear attractive to buyers, interest rates can often double or triple the sticker price of a home. Meanwhile, Cambodia’s banks usually require down payments of at least 30 percent and involve lengthy checks on credit history and repayment ability. Interest rates for these mortgages clock in at around seven to 12 percent.Late last month, an official from Cambodia’s central bank expressed worry over high-interest loans in the Kingdom, warning buyers to carefully consider a mortgages rate before signing.To learn more about Cambodia's changing demographics, read the demographics section of our Investment Guide 2019.Article by:

The FIRST B&R ENGINEERING BUSINESS MATCHING will be held on August 22, 2019, at the Cambodiana Hotel in Phnom Penh, hosted by the Engineering & Home Procurement  Association (Cambodia)Cambodiana HotelIt is going to bring together a large number of Chinese-funded enterprises, including HGB Group, Realestate.com.kh, 58cam.com, Fujian Construction Material & Furniture Commercial Association, Fujian Real Estate Commercial Association, Office of Fujian Custom Home Industry Association to ASEAN, Fujian Capital Confederation, Wangni Enterprise Group, Tuojie Equity Investment Fund Management Co., Ltd., Zizuan Investment Management Co., Ltd., Yaojie Asset Management Co., Ltd., Hongding Commercial Real Estate Co., Ltd., Jiujie Home Technology Co., Ltd., KVBC Global Trade Center and many more.Focusing on general aspects of real estate, 35 prestigious enterprises from mainland China, Hong Kong and Macao have been selected to present at the show. These companies cover more than 13 industries, such as ceramics, waterproof material, lighting fixtures, wallpaper and furbishment, glass and stone, classic furniture, intelligent device and architect. Meanwhile, experts from the Cambodian real estate sector will provide inside analysis of the local housing market, as well as their experiences of success in project operation.Many real estate developers have agreed to join the exposition. Many participants are involved in local projects worth at least $800 million, most of which expect to be completed or break ground next year.Every exhibitor at the expo will automatically become a member of the Engineering & Home Procurement Association (Cambodia) for free. The association will regularly invite developers to their group inspections and other activities, through which their members can cooperate with the organiser to promote information about project procurement to requesters.Espousing a mission to boost competitiveness among its members, the association will interact with the government, real estate associations, major chambers of commerce and industry organisations to achieve mutual benefits through various forms of cooperation such as resource integration, information sharing, coherent marketing campaigns among members.The FIRST B&R ENGINEERING BUSINESS MATCHING will be held for one day, and will consist of sessions including product presentations, business banquets, industry forums and other activities. Officials from relevant government departments will be invited to the opening ceremony of the event.The booths at the expo will be laid out by regions where the exhibitors come from rather than industry sections they belong to. Thus, the enterprises of same or relative category are reasonably dispersed in different groups. This professional arrangement can effectively guide buyers to every exhibitor for unimpeded information exchange before closing a deal.This exclusive event will bring high-standard hospitality at a reasonable cost. It is a good chance to reach high-profile leaders in the sector. A dinner party as the epilogue of the event will surely build a good rapport for further connections among participants! If you're interested in learning more about real estate in Cambodia, be sure to browse through our Investment Guide's overview of the Kingdom's real estate sector. Look for real estate for sale in Phnom Penh now!

Huangshan International is a newly inaugurated high-end mixed-use project in Phnom Penh by Huibang International Investment Group. It consists of residential condominiums, offices, and star-rated hotels. It comes with catering services, leisure & business centre, which is set to add some uniqueness and refinement in the real estate market of the Kingdom of Cambodia.Huangshan International will definitely be an excellent choice for the Cambodian people, expatriates and visitors to Phnom Penh from all over the world for its various functions and strategic location. Every unit in Huangshan International is designed to simply fit in hotel rooms, offices, apartments and more.Sitting in the heart of the Bassac community, this development has a lot of potentials and that means it could bring a high return on investment to buyers. Because this area might become the ‘Marina Bay’ of Phnom Penh as some people believe, it is becoming more attractive to expats, tourists and young Cambodians for its amazing nightlife. The 47-storey tower will stand on National Assembly Street, adjacent to the Parliament of Cambodia and embassies of many countries. Within 5 minutes walk, you will reach some of the most remarkable landmarks of Phnom Penh city such as the Royal Palace, the Riverside, the Independence Monument and many more. And the neighbourhood is home to many top-tier hotels and the city's largest shopping mall, the AEON 1.This project is home to a wide range of residential unit types from studio apartments to 4-bedroom and 6-bedroom luxury penthouse, sizing from 46-227 sqm, among which one or two-bedroom is the majority. The apartments will be turn-key homes that come with international high-quality decoration and home configuration to serve different sizes of families or those who live by themselves Unit price starts from $2,574 per sqm.More importantly, Huangshan International will be built in a structure of concrete core wall and column grid, and non-shear-wall that can support an ingenious floor plan for flexible adaptation for various purposes. Each floor is 3.3 meters in height, available for multiple-purpose use. The building is equipped with six high-speed elevators for passengers and one specially designed for vehicles that will effectively ease the general traffic inside the complex.The top floor is the highlight of the building, which features an exclusive club. It is a duplication of the classic Huizhou design that is a new concept to Phnom Penh. It provides tailor-made in-house leisure services at the salon, tea house, kitchen and even the theater. For more Chinese style way of living, you may even enjoy the physical charms and spirits traditionally derived from the southern bank of the Yangtze River in the landscape garden or at a traditional Chinese therapy club here.The property will be managed by the Huipai Golden Key established by the developer. Their excellent services include housekeeping for overseas owners. Of course, there will be 24-hour security, security cameras and alarm system to ensure the residents’ safety and peace of mind. The Huipai Golden Key is determined to deliver high-quality property service that resembles the Fairmont Peace Hotel in Shanghai.Huibang·Huangshan International hosts 670 residential units and is developed by Huibang International Real Estate Development Co., Ltd., a subsidiary of Huibang International Investment Group. It is expected to be completed by the end of 2023. It offers 9 types of refined apartments on global sales!The showroom is located on 168 National Assembly Street, Sangkat Bassac, Chamkarmon District, Phnom Penh (next to Huangshan Hotel).For more information: please call us now +855 92 92 1000 or email: info@realestate.com.khStay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android.

Phnom Penh is a diverse and dynamic city that has so much to offer. However, it’s clear that the capital is lacking in parks and other public spaces. There are only a couple of areas of the city where people can gather and socialise. These include strips along the riverside, Preah Sumarit Boulevard and Russian Federation Boulevard. These places fill up quickly as soon as the sun goes down. Children come to play games, teenagers ride skateboards and adults exercise by playing badminton or doing dance aerobics. Indeed, the popularity of these areas in Phnom Penh shows there’s high demand. People want to get outside and participate in activities. It goes without saying that playgrounds and public parks play a vital role in the social life of local communities. They promote both mental and physical wellbeing. Public spaces go privateWith these benefits in mind, many real estate developers are including communal spaces in their designs. Many of the most popular developments in the capital include retail space and landscaped plazas. Names such as Urban Village have gone even further by including playgrounds and activity spaces in their complexes. These all tend to be community-focused in nature. The real innovators are providing the maximum amount of public access in order to ensure the best results for both the residents and businesses that call the building home.Despite suffering from a scarcity of public spaces, privately-funded areas in Phnom Penh are stepping in to shape the development of the city. These spaces are fulfilling the need for people to socialize and help establish communities in their part of the city. And it’s not just the residential developments reaping the benefits, either. Shopping malls are cashing in by creating public spaces adjacent to retail shops. Toul Kork’s TK Avenue and the upcoming Noro Mall are two prime examples of this. Everyone has heard about the massive floods that have hit Sihanoukville over the past few weeks. Just next door, in Thailand’s capital of Bangkok, public parks are a lynchpin of their flood defense strategy. Studies show that trees significantly reduce the heating effects of dense cities and can reduce ambient temperatures by as much as 15 degrees. Three ideas for improving public space in the capitalPhnom Penh-based architecture and design firm COLE is interested in pushing forward the development of public spaces in the city. With all the above issues in mind, COLE has drawn up three (slightly off-the-wall) ideas for creating more green space in the capital: 1. Open up temple groundsImagine removing the walls around these magnificent temples and replacing them with trees. You could give people great places to sit and enjoy the bustling street life.Check out the map above where we plotted some of the biggest pagodas in the city. Opening them up would ensure that almost every neighbourhood has its own dedicated public space.2. Create pedestrian streetsStreet 240 would make a great pedestrian priority zone. This could be done by creating a green walking loop between the Royal Palace and Independence Monument. Tourists and locals alike would relish the chance to stroll between the two sites.3. Make a unified Embassy DistrictCreating a new Embassy District would free up prime land which is already landscaped. This would add both pocket parks and large centrally-located parks for all Phnom Penh residents to enjoy. Another benefit of creating a new Embassy District would be the rejuvenation of an outlying area of the city. It would bring more people, and business there would flourish.Interested in design and architecture in Cambodia? Read David Cole's last guest article on the rise of coworking spaces in Cambodia.David Cole is the founding partner of Building Trust International and principal at COLE, an architecture and design practice with offices in Phnom Penh.

Early this month saw the launch of a project that is set to become a landmark of Cambodia’s capital.On August 2, Huibang Huangshan International was launched with an event at Phnom Penh’s Huangshan Hotel. The dinner event was presided over by Oknha Hun To, Oknha Chea Soeun, Mrs Hun Kim Leng and several other high-profile guests. The elegant event was styled around an aviation theme as the nearly 300 guests crossed the “runway,” passed through a “boarding gate” and were greeted by flight attendants. Mr Chao Shen, the executive chairman of Huibang International Real Estate, gave the evening’s address. “We are pushing forward a new path for real estate development in Phnom Penh. We aim to bring more international-grade and high-quality spaces for tens of thousands of families,” he said, adding that Huibang Huangshan International will spearhead this new concept.Details of Huibang Huangshan InternationalThe newly inaugurated project sits in a blossoming area of the capital. Squarely in the Tonle Bassac neighbourhood, the residence is surrounded by the Australian Embassy as well as tons of international amenities, restaurants, and residences.  All the major tourist attractions of the city are within arm’s reach. These include Independence Monument, the Royal Palace, National Museum, Wat Phnom, Central Market, Russian Market and Tuol Sleng Genocide Museum. There are also six major state institutions in the vicinity.As if that weren’t enough, there are also plenty of high-end supermarkets, luxury hotels, international schools, and hospitals in the area. Diamond Island, one of the most quickly growing business hotspots, is right next door.Amenities outside are matched by superb facilities inside as well. Huibang Huangshan International boasts a massive lobby, huge parking lot, swimming pool, fitness room, restaurants, KTV and high-end clubs. All these things add to the lifestyle standard for the building’s residents. Learn more by visiting the Huangshan International property listing here.Learn more about the industries that make up Cambodia's economy in our Investment Guide 2019.

Cambodian brick prices have been stable over the last 18 months. Industry insiders say that supply has finally caught up to rising demand, which caught the industry off guard in early 2018.According to Chheang Suyheang, a representative for over 100 brick kiln owners in Kandal province’s Mukh Kampul and Khsach Kandal districts, prices haven’t risen significantly since early last year. Suyheang said that bricks in Kandal province, the Kingdom’s main region for domestic masonry, are currently going for $400 per 10,000.This price, he said, has remained the same for over a year. In early 2017, however, 10,000 bricks were going for just $180. That figure rose to $300 by late 2017 and jump to $400 in March of last year. According to Suyheang, the spike in demand came from huge construction orders out of Sihanoukville, Kampot, Phnom Penh and Poipet. “Many brick kiln owners have expanded production as they see growing demand. Those who used to have only two kilns now have four. Those who had four now have six,” he said, adding that they have kept prices low to compete with brickmakers from Vietnam. Suyheang estimated that there were currently around 300 brick kilns in Cambodia, each capable of turning out at least 100,000 bricks a day.Cambodia still reliant on importsCambodia has seen a massive influx of foreign direct investment (FDI) over the past few years. Indeed, the real estate, construction and hospitality industries are some of the main recipients. The brick industry has benefited from a building boom that has seen new shopping malls, office blocks, condo towers and more.During the first six months of this year, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) approved over 2,000 construction projects with an estimated investment value of more than $3.3 billion.Residential and commercial projects made up the largest portions of the approved projects, accounting for $1.5 billion and $1.07 billion, respectively. Chiv Sivpheng, general manager of the Cambodia Constructors Association, said Monday that economic stability, FDI and real estate progress have all contributed to the growing demand for construction materials. He noted, however, that Cambodia was still heavily reliant on imports for other construction materials such as steel and interior fixtures.“We want to see our local production grow stronger so that we can produce more things domestically and become less reliant on imports.”Learn more about the industries that make up Cambodia's economy in our Investment Guide 2019. Article by:

The Gateway complex in Phnom Penh’s Toul Kork has hit a turning point. Recently, construction of the top floor was completed. Handover is expected in December of this year and 80 percent of the buildings are already sold.To commemorate this final stretch to the finish line, The Gateway is offering a special offer to those who stop in to their sales office. Until the end of this month they are offering a massive 3 percent discount. Don’t miss it!This amazing mixed-use complex sits right off the capital’s bustling Russian Boulevard. It’s is tailored to the on-the-go lifestyles of international business moguls. The complex spans both a 36-storey office tower with 299 strata-titled units, and a 39-storey condo tower with 572 units.Condo units range from one to three bedrooms or 52 to 110 square metres in size. Prices start at just $167,000. When considering all the amazing features this building has, that’s a great deal. Owners have access to a two-storey retail mall, massive office tower and so much more. The Gateway is nearing completionFor those following along on the action, The Gateway is receiving its finishing touches as we speak. Construction on the top floor recently concluded and interior construction is finishing up. Around half of the exterior glass is already in place. The interior design of all the common areas is moving ahead full steam. These facilities are some of the best luxuries you’ll find in the city. There’s a fitness centre, tranquil swimming pool, luxurious lobby, sauna, communal gardens and plenty of lounge space. Indeed, The Gateway is on the final stretch. Handover is expected to begin in December of this year. Full owner transfer is set for just one or two months after that. Units at The Gateway selling fastPeople have seen the benefits of this spectacular building complex. Around 80 percent of the condo units here are already sold. There are less than 100 units left, which isn’t a lot. After they’re gone, owners are sure to hold them for years and years.Now is your chance to get a piece of this property with an amazing discount. After the news breaks about the coming handover, these last few condos will sell out quickly.Stop into The Gateway’s sales office today to hear about their amazing promotion to commemorate the coming completion. If you're interested in learning more about real estate in Cambodia, be sure to browse through our Investment Guide's overview of the Kingdom's real estate sector. Look for real estate for sale in Phnom Penh now!

Realestate.com.kh is excited to announce the fifth iteration of its hugely successful expo series. The company expects to push the local property sector to new heights with the latest show, the Realestate.com.kh Expo 2019.Taking place at Phnom Penh’s NagaWorld on October 4 and 5, the event will host businesses and professionals from every corner of the real estate industry. Of course, developers of boreys and condos will be there. Also in attendance will be land dealers, real estate agencies, law firms, banks, construction companies as well as architecture and design firms.All the major players of Cambodia’s real estate industry will be there. What’s more, most will be offering their most significant discounts and promotions of the year. The event is your chance to shop for the best deals on condos, boreys, land and more all in one place. Don’t waste your time driving all over the country when you decide to buy real estate. Come to the Cambodia Real Estate Expo 2019 to save yourself time and money.Over $100 million and counting at Realestate.com.kh’s exposThe Cambodia Real Estate Expo 2019 follows as the latest in Realestate.com.kh’s series of groundbreaking shows. Exhibitors sold nearly $100 million worth of property throughout the last four expos. Over 35,000 people have attended past Realestate.com.kh expos. Cambodia’s leading property portal expects its next event to continue this growing trend. Realestate.com.kh anticipates over 50 exhibitors will join this year’s event. These will be the most prominent names from Cambodia, across the Asean region and all over the world. The company also expects attendance to be well over 8,000 people. By all accounts, this show is set to be the biggest real estate sales event of the year. There will also be thousands of leads generated at the show. Be a part of the Realestate.com.kh Expo 2019While Realestate.com.kh’s events usually attract a substantial local audience, buyers, experts and investors from all over Asia are expected to attend. There will be many from China, Malaysia, Japan, South Korea, Australia, Europe and many other areas all around the globe.For businesses operating in any industry associated with real estate, this will be the event you need to be a part of in 2019. It will be the best chance to boost your marketing and surpass your yearly sales numbers.There will also be seminars given by leading experts in the real estate community. They will be on hand giving talks about a range of subjects spanning legalities of real estate, government policy, investing and more. Speakers will deliver seminars in Khmer, English and Chinese throughout the two-day event. Headsets will also be provided for translation so attendees will be able to learn from every single speaker.If you’re interested in booth space call:Nin Kang (Chinese/Khmer)nin.kang@realestate.com.kh+855 78 637 323 / +855 93 552 305Tyler Stuart (English)tyler.stuart@realestate.com.kh+855 12/81 599 669 Go to the Realestate.com.kh Expo 2019 website now to sign up for free express entry.

According to Euromonitor International’s Top 100 City Destinations 2018 report, Bangkok is the world’s second most visited city following Hong Kong. Real estate in Bangkok is considered more valuable than other major cities in Asia such as Singapore and Shanghai, according to CBRE’s fifth annual global living 2019 report.Of all the skyscrapers in Bangkok, King Power Mahanakhon is one of the largest mixed-use developments and the second tallest building at 78 storeys. Standing 314 metres high, it is just four metres shorter than the recently completed Magnolias Waterfront Iconsiam Residences with 318 meters. King Power Mahanakhon is an icon of ThailandKing Power Mahanakhon officially launched in 2016 and welcomes a large number of national and international tourists every day.Located in the heart of Bangkok’s Sathorn and Central Business District, the freehold residences are situated on the 23rd to 73rd floors of the iconic building. Units range from two to four bedrooms, with sizes from 135 square metres to 447 square metres. Steps away from Chong Nonsi BTS station, the opportunity to own a residence in the prestigious prime location is now available to those seeking an elegant urban lifestyle.King Power Mahanakhon, Thailand’s iconic landmark destination recently opened its doors to brand new super-luxury show units at The Ritz-Carlton Residences.Units in the tower feature world-class bespoke interiors crafted by David Collins studio. Luxurious facilities include a 54th-floor Residential Club Lounge where owners can enjoy a library, bar, dining area, kitchen, lounge area, boardroom and TV room. Owners will also have access to a fitness centre, swimming pool, private cinema, mini-bar, billiard room, game room, and children’s room among other leisure amenities located on the seventh floor.Marc Begassat, managing director of King Power Mahanakhon said: “It is truly a unique opportunity to own a residence within an iconic landmark, in one of Thailand’s tallest buildings. As we continue to create a destination that combines exceptional hospitality, award-winning cuisine, and world-class attractions, we look forward to offering owners a prestigious urban lifestyle experience that can only be found at King Power Mahanakhon.”Within the same iconic building is the Mahanakhon skywalk, Thailand’s highest observation deck, three levels of retail shops and the Mahanakhon Bangkok SkyBar, Thailand’s highest restaurant and bar. In the next phase, the world’s first Orient Express Hotel will also be making its debut at the landmark destination, with signature dining venues including Mott32 and Mahanathi by David Thompson.In regard to prices, available units at The Ritz-Carlton Residents are selling for $1.3 million per unit or over $10,000 per square metre.A similar mixed-use building is found in Cambodia’s capital of Phnom Penh, where it is known as Rosewood Hotels and Resorts, occupy the top 14 floors of Vattanac Capital, Cambodia’s tallest building. If you're interested in learning more about real estate in Cambodia, be sure to browse through our Investment Guide's overview of the Kingdom's real estate sector. Look for real estate for sale in Phnom Penh now!

The amount of office space in Phnom Penh has continued to increase over the past year. This is due in part to the growing number of foreign companies setting up shop in the Kingdom. According to a new report from real estate services firm CBRE, centrally-own office space in Phnom Penh reached 359,300 square metres at the end of June. This represented an increase of 12 percent from 320,900 square metres, where the total stood at the same time last year.CBRE’s senior analyst, Kim Kinkesa, told Realestate.com.kh that there has been an increasingly strong demand for quality office space in Phnom Penh in recent years.She added that despite the rapid growth in office supply over the last 12 months, quick uptakes have kept the occupancy rate high. It has stayed above 85 percent, in fact, over the previous four quarters.“A majority of the inquiries we have received over the last 12 months have been from international companies from China, Singapore, Japan, Malaysia and other countries in the Asia- Pacific region,” Kinkesa said, adding that most companies come looking for offices between 100 and 300 square metres. “The net uptake of office space in the first half of 2019 was approximately 6,500-square metres, more than twice the uptake of the same period last year, which was around 3,100 square metres.” The company’s report breaks down office space into grades A, B and C. According to Kinkesa, while grade C office space has the lowest vacancy rate at just seven percent, demand is shifting toward grade B office space. Both international and local companies, she said, want better quality spaces that are safer.Just as the supply of office space is growing in the capital, the amount of strata-titled space is also increasing, according to the CBRE report. Similar in concept to a co-owned condo building, strata-titled office space first appeared in Phnom Penh last year. Currently, there are just over 40,000 square metres of strata-titled office space in the capital. However, the total is expected to reach nearly 100,000 square metres by the end of this year. Experts in the industry are even predicting that the supply of strata-titled space will hit 600,000 square metres by 2022.The Cambodia Chamber of Commerce (CCC) Vice President, Lim Heng, said that the continuing growth of office space in Cambodia reflects growing business activity in the country as foreign direct investment (FDI) keeps flowing in and new companies keep establishing themselves in the Kingdom.“Cambodia’s investment environment remains attractive, and we get news about new companies setting up shop almost every day,” he said.Heng added that many Chinese manufacturing operations have moved their domestic factories to other parts of Asia, including Cambodia, to avoid recent tariff hikes imposed by US President Donald Trump. This, he claimed, has driven up demand in the Kingdom for both industrial and office space.Not included in CBRE’s figures are data on coworking spaces in Phnom Penh. Popular with young startup companies, these spaces offer up small working areas, usually by monthly or daily rates. Coworking environments have grown in popularity over the last few years. There are several in the capital, including The Factory and ImpactHub. Indeed, many in the industry think that coworking spaces are filling a gap in the current market for low-cost office space, even as demand grows at the top end of the market. To learn more about coworking spaces in Phnom Penh, and across Cambodia, log on to Realestate.com.kh’s guide page where there is a full list of all the coworking spaces in the country.If you found this article interesting, you'll love our Investment Guide 2019: Property ownership briefing. Browse through or download your copy now.

Human resources are the foundation of the economy, especially for developing countries. Across the globe, experts have noted the remarkable growth of China over the past three decades. The country went from an agrarian nation to a global powerhouse in a short span of time. One key factor in this amazing growth was a young and adaptive population. However, now that China’s average worker is over 40, the growth is slowing. It’s no surprise that Chinese real estate investors are turning their attention to new areas. In particular, areas that can attain the same quick growth that China did. Cambodia is firmly in the spotlight. According to data from 2017, Cambodia has a population of around 16 million. The average age at that time was 27, and those under 34 accounted for 70% of Cambodian citizens. Meanwhile, the population is growing by around 1.5%.Therefore, it is believed that Cambodia is in a golden age of economic development. This comes, in part, because of its young and capable workforce. In just a few years, most Cambodians will be at the peak of their working years. That means the economy will be moving at full throttle. Prince International Plaza sits in the heart of the capitalPhnom Penh, the capital of Cambodia, has visibly become a hotspot for overseas investors. According to the data from the Ministry of Construction, the number of available apartments in Phnom Penh, including the newly completed, was nearly 30,000 at the end of 2018. It is estimated that the population of Phnom Penh will increase to seven million by 2030, which means that there will be a great demand for residential property.At present, the price of an apartment is around $3,000 per sqm, and the rental return rate is around eight to 10 percent. Based on the difference between supply and demand, the occupancy rate of apartments can reach as high as 95 percent.So, it is likely to see a considerable long-term rise in apartment prices or rental rates when considering the above factors. The place hitting all the marks is Prince International PlazaPrince Real Estate is a brand that is bringing high-quality properties to the Kingdom. Being dedicated to becoming a leading company in Cambodian real estate industry, a supporter and provider of quality life, Prince Real Estate Group has been creating several landmarks since its establishment in 2015. So far, the group has invested more than US$2 billion. Holding a land reserve more than 12 million square metres, the group will see expanding investments of up to US$6 billion over the next decade.Prince International Plaza, one of the multiple development projects by the group, is in the market for buyers who are up for a home with commercial opportunities.Prince International Plaza is located along Russian Boulevard, one of the most important main roads in the capital. This prime area shares the borders with Sok Sen, Tuol Kork and Meanchey districts. The Phnom Penh International Airport and railway station can be reached by car in less than 15 minutes from the plaza, which is also close to the Prime Minister's office, the Ministry of Commerce and City Hall.Prince International Plaza is a mixed-use complex that provides 5A offices, condos, apartments and a ring of business spaces hosting flagship retailers. It's not only a residence but also a commercial centre with recreation and leisure services. Amenities surround the Prince International Plaza complexMany important city facilities are within a few kilometres of Prince International Plaza. These include Makro wholesale market, TK Avenue as well as educational institutions like RUPP and the Institute of Foreign languages. There are also quality hospitals like the Royal Hospital of Phnom Penh and the National Children’s Hospital.Set to be one of the top commercial centres of the city, the 35,000-sqm commercial section of Prince International Plaza spans the first three levels of the complex. It hosts a massive supermarket, IMAX digital cinema, large fitness club, a number of featured restaurants and bars, game centre and playground. This centre allows residents to enjoy every minute of their lifestyle without needing to travel. It will also attract affluent people from all around the city. On top of those amazing features, Prince International Plaza also hosts a fitness club and infinity pool. It’s the perfect place for residents to relax and unwind after a long day at work. Of course, the entire complex is outfitted with a 24-hour security system. This gives all residents pure peace of mind.But what are the units like at Prince International Plaza?The units at Prince International Plaza range from 50 to 157 sqm. This provides many options for either homes or investment options. Every apartment is laid out to be a luxurious home with a full set of modern appliances and the most fashionable interior designs tailored for elites. With top-tier amenities, a prime location and a reputable backing brand, it’s no surprise that units at Prince International Plaza are already selling like hotcakes.Don’t miss your chance. Don’t wait until the prices climb high or all the units have been sold. Guide's overview of the Kingdom's real estate sector. Look for real estate for sale in Phnom Penh now!

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