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

The Second Cambodia’s Engineering Business Matching was held on December 20 at Cambodiana Hotel in Phnom Penh and was joined by participants from different sectors, including construction, real estate, telecommunication and more.The event aimed to bring together representatives from manufacturing and consuming sides, mostly in the construction sector in one room to help boost better cooperation.As a result, the event has seen some themed dialogues, special events, procurement releases, product testing, cooperation signings and gathering dinnerFor instance, the Cambodian Singmeng Telemedia Co., Ltd, the only one-stop ICT overall solution operator in Cambodia and Discovery New City Co., Ltd, signed an MoU on “Smart Community Strategic Cooperation Agreement.”The agreement will allow the two parties to work together to turn DNC Mall and DNC community into intelligent and high-end businesses.Under this agreement, the two signatories hope to provide customers with a more intelligent and comfortable experience and help establish the image and reputation of Discovery New City Co., Ltd as an industry leader and innovator.Singmeng Telemedia is a Singapore-based company. It offers one-stop overall information solutions for the entire Southeast Asian market.Established in 2012 with a total registered capital of U.S. $100 million, it has swiftly become a leader in the telecommunications industry.In Cambodia, Singmeng Telemedia has buried optical cables covering the whole of Cambodia, and is the first operator in Cambodia to launch the “three-in-one” technology and “one-stop ICT overall solution.”Singmeng Telemedia is currently offering services to some 40 large-scale real estate projects, including The BRIDGE, One Park, Prince Edward, Central Plaza, Olympia City, and AXIS RESIDENCE. It has also secured to service 12 high-end development projects which are still under construction.For more information, please visit the company’s website! Or contact: 096 666 1888 / 089 966 888 / 023 860 666 (Khmer, English and Chinese)Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more!

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

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

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

The second construction engineering exposition hosted by Cambodian Engineering Home Purchasing Alliance is set for December 20 at Hotel CambodianaAll the members of Engineering Procurement Union of Cambodia ( EPUC ) have been invited to the show, including companies offer services such as preliminary design, procurement, cost control, construction, material supplies and more.The organiser aims to use this event as a gathering of stakeholders and individuals within the engineering industry including developers and construction material suppliers where they can share useful information opportunities between each other. It is a shortcut that connects and serves the two parties in this business sector.What are the benefits for attendees?1. Interview and chat away for fast dealsThe real estate industry is more about integrating resources and materials than other industries, which involves planning, design, construction, landscape, decoration, and property management. Hence, procurement activities run through the entire business process. Therefore, the organiser of the exposition will invite developers’ chief procurement, designers, and representatives of manufacturers & suppliers to sit down in the same room to optimize the business opportunities.2. Large number of development projects across CambodiaThis exposition will include a great list of projects under construction across Cambodia, and will present and highlight some details of demand by large projects to the attended manufacturers and suppliers .3. The most prestigious construction materials exposition in CambodiaWith great success in the first B&R Engineering Business Matching, Cambodian Engineering Home Purchasing Alliance, the organiser, will undoubtedly create another excellent opportunity of marketing and branding for suppliers. The host will even allocate a conspicuous area for a showcase of limited top-tire products on the show.What has achieved on the last show?The previous show has displayed comprehensive products on the industrial chain, from kitchenware, fire prevention gears to aluminum doors and windows and so on. On top of that, many of the dignitaries and entrepreneurs, 20 developers, 50 manufacturers were there under the same roof to witness one of the biggest shows of a kind , from which a database including 74% of the suppliers to the show has become the first reference for developers’ future procurement and bidding.The new show is expected to be as exciting as ever, which is honorably supported by many leading companies, including Diguan Real Estate Development Co., Jiujie Home Technology Co., Ltd., Realestate.com.kh, Tnaot, 58cam.com, SingMeng Telemedia, Gold Zone Media and Wangni Enterprise Group.Who will be there?This year exhibitors include Hongding Commercial Real Estate Co., Ltd., Peng Huoth Group, Piphup Thmey Group, LYP Group, OCIC, Chip Mong Group, R&F Cambodia, Prince Real Estate Group, Chang Yuan Group, Shenzhen Yiju Real Estate, JinLu Group, Agile Group Hold, LingNan Properties, Golden Time Real Estate Co., Ltd., Prestige Home Cambodia, Jin Lin International, MLN Global, AMARA Boutique Apartment, Yuetai Group, MY Investment Group, Zhong Ding Group, SWOT Overseas, La Vista One, Baoli Mansion, Toul Kork Lane, YXZ Co., Ltd., 7 residences and KY development etc.Invitations have been sent. Please feel free to register online for free entrance.For more details about the exhibitors and sponsorship, please refer to the contact details below.Organiser website here!WeChat ID: DND-EPUCE-mail: epuc2019@outlook.comMiss. Li +855 71- 451-8888 (Chinese / English / Cambodia)Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more!

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

(South Korea’s Minister of Foreign Affairs, Kang Kyung-wha with Cambodian Minister of Foreign Affairs, H.E. Prak Sokhonn during the ASEAN-ROK Summit 2019 in Busan. Photo courtesy of South Korea Ministry of Foreign Affairs/)Cambodia recently secured $700 million in infrastructure development loans from the Republic of Korea. The loans were committed by the South Korean government during the recently concluded ASEAN-ROK Summit 2019 held in Busan, South Korea last November 25 to 26, according to the AKP.H.E. Prak Sokhonn, Cambodian Minister of Foreign Affairs and International Cooperation, expressed his gratitude to South Korea for committing to support infrastructure development in Cambodia through their financial loans to be distributed throughout 2019-2023.Aside from infrastructure development loans, Cambodia and South Korea recently signed documents indicating increased cooperation in the fields of agriculture, tourism, law enforcement, and trade - which includes a study on the feasibility of a Free-Trade Agreement (FTA) between the two nations.Cambodia was also represented by its Minister of Foreign Affairs in the first Mekong-ROK cooperation during the summit. The event is one of the major highlights of the summit as the Mekong-ROK cooperation is elevated to a ministerial level. As of 2018, trade between the Mekong countries (Cambodia, Laos, Myanmar, Vietnam, Thailand) and South Korea amounted to $84 billion.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now on both iOS and Android.Interested in investing in Cambodia? Check out our Cambodia Investment Guide 2019 to learn more!Article by:

(Cambodian Prime Minister Hun Sen shakes hands with the premier of the People's republic of China at the 35th ASEAN Summit in Thailand. Facebook Page)China and Cambodia recently announced plans to begin a cooperative project to tackle poverty alleviation in the country. The two nations recently signed a Memorandum of Agreement (MoA) through China Foundation for Peace and Development (CFPD) and Cambodia's Civil Society Alliance Forum (CSAF).The endeavour is set to tackle poverty in a selected village in the country and eventually serve as the China-Cambodia friendship model village.The two government foundations selected a small remote village called Tanorn in the Bati district of Takeo province about 60 km south of Phnom Penh.In an interview with Xinhua, CFPD’s Secretary-General, Xu Jianguo said, “[The project will] mainly focus on designing and improving village roads; providing family clean water; providing health care support; developing agricultural sector including husbandry, reviving traditional handicrafts and improving public environment; as well as vocational training,"CFSP Secretary-General Xi Jianuo was accompanied by CSAF Chairman Kemreat Viseth during a visit to the rural village, a day before the signing of the MoA.The visit, and the upcoming improvement project, were welcomed by the local officials and residents alike. "We're ready to cooperate with this project since it's very important to help reduce poverty in our village," said Kheav Sophal, the deputy governor of Bati district.Tanorn village is currently home to 120 families with 567 people. Most people in the village work in rice fields and garment factories while others migrate to Phnom Penh to work mainly in construction.CSAF's planning and project director Chea Monyrith said the project would commence in December 2019 and was expected to be completed in 2022.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019.Find out more about our Cambodia Real Estate Awards 2019 here.Article by:

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

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

Realestate.com.kh recently announced that it generated over 100 leads for property sales, and rentals, valued at over $14 million, within one month from the release of its new “Home Finder” feature on its website and app.With the Home Finder tool, Realestate.com.kh hopes to create a stress-free property search experience for its customers and users by allowing them to key in specific requirements and instantly alerting agents and developers about these needs.Since the launch of the new feature, the number of property seekers using the tool is increasing on average of 75% per day, creating millions in dollars of opportunities for Realestate.com.kh agents within the platform.$14M+ in Opportunities created with Home FinderAs of 20 November 2019, thirty days since launch, Home Finder has generated a total of 129 leads valued at $14,590,879 in potential property revenue for real estate agents in Cambodia, with each lead averaging at $113,108 value.Total buy opportunitiesThere were 54 sales leads in total, worth approximately $14,520,299 in revenue. With a 3% standard commission fee, the total commission opportunity of $435,609. The average property purchase price was $268,894 and with a 3% commission rate, each lead is worth an average of $8,067 to the agent that is ultimately closing the deal.Total rental opportunitiesThere were 58 rental leads in total during the 30 days, worth approximately $70,580 in total monthly rental value. With the average commission rate of three quarters of a month's rent or 75%, the 58 leads generated around $52,935 in commissions for Realestate.com.kh's clients. On average, each rental lead is valued at $1,217, with an average commission rate of $913.Total sell opportunitiesThere were 17 leads for property for sale, worth approximately $2,096,000. With a 3% commission rate, the total opportunity in commission for agents was $62,880. Each lead is valued at an average of $123,294 and with a 3% rate, the average commission per lead amounts to $3,699.Alex Sing, Agent Subscriptions and Software Manager for Realestate.com.kh said this new feature helps raise the level of transparency on the website and is providing more value to our agent clients, and ultimately making the home finding process in Cambodia easy and effortless for property seekers.“The new Home Finder feature on Realestate.com.kh is another step towards transparency for agent clients and our end-consumers, the property seekers. The launch of this feature represents our continued commitment to listening to agents on what matters to them and taking action to better serve them. But ultimately this feature is for the end-users, providing them a satisfactory, more streamlined user experience,” he said.What is the Home Finder feature?Home Finder is a new Realestate.com.kh feature located on the bottom right-hand corner on a desktop browser or below the search bar on the app.It allows property seekers to simply submit their buying or renting needs and the platform automatically alerts agents and developers about the “opportunity” which is sent directly to the agents' app, just like a WhatsApp message.It works the same way for property owners, making it easy for them to connect to agents that can help them find buyers.Home Finder takes the hassle away from property seekers or sellers when looking for the most trusted agents who can fulfill the specific needs highlighted in the form. Once a form is filled up it becomes a lead or opportunity and all the agents who have accounts with Realestate.com.kh will be alerted. The property seekers or sellers then will be referred to the leading agents in the industry.However, to ensure that the platform remains user-friendly, it allows only the first five agents to take the opportunity or lead. It will disappear once five agents respond to it. It keeps users from not having to deal with many agents contacting them later trying to sell their services.Learn more about Home Finder here!If you are a real estate agent in Cambodia and want to know how you can gain access to these leads and opportunities contact:Keo Sokma (Khmer & English)sokma.keo@realestate.com.kh+855 12 825875 | +855 16 969979 Sun Bunrattanak (Khmer & Chinese)rattanak.sun@realestate.com.kh+855 17 884161Download the app now on iOS or AndroidIf you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Learn more about Cambodia Real Estate Award 2019 here!Article by:

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

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

(Road maintenance of National Road 3 in 2017 by Ministry of Public Works and Transport. Supplied)When An Chanthla heard rumors in late 2017 that the government is planning on expanding National Road 3, a 202km-long major highway connecting the south of Cambodia to Phnom Penh - he saw an opportunity he simply couldn’t pass on.With little capital, and even less experience in real estate investments, Chanthla decided to take a chance and pooled his capital in a joint-venture with his friends. They managed to put together $14,000 to buy a 2,500 sqm plot of land around National Road 3 in Prey Toteung Village.The land they bought was surrounded by rice fields and was only accessible through a narrow dirt road. As the sale price was a mere $5.6 per sqm, Chanthla hoped that the land would double in value in 2 or 3 years.But fortune came sooner than he had anticipated. A few months after the purchase, the government officially announced plans to renovate and expand National Road 3. Land prices around the major road skyrocketed overnight, including Chanthla’s 2,500 sqm plot of land.”We sold the land back at $13 per square metre. The resale gave us a profit of nearly $20,000 just a few months after making our first purchase,” he said. After seeing the success of their first venture, he and his partners agreed to reinvest the money to buy a $50,000 plot of land measuring up to half a hectare; hoping for another flip on the market.”We buy up larger land when we see a potential for it. At present, our group owns nearly 5 hectares worth of land valued at $25 per square metre totalling up to $1 million.” Chanthla continued.The story of Chanthla’s business venture reflects how developments on major road arteries for the past 3 years increase the value of land property, and consequently, benefit the people who live around it.According to Po Eav Kong, managing director of Asia Real Estate Cambodia Company, property value along National Road 3 has jumped significantly in the past few years. Due to the upgrading of National Road 3, there are more residential and commercial developments around it.While National Road 3 stretches all the way down the coast, land property can be valued and purchased à la carte. For example, the land from Chaom Chao to Kampong Toul Bridge (the border between Phnom Penh and Kandal province) is valued at $200 to $400 per sqm since it’s suitable for residential projects, he added.On the other hand, property from Kampong Toul Bridge to Ang Tasom (land considered to be suitable for industrial development) is valued anywhere between $20 to $80 per sqm. While land from Ang Tasom to the Kampot Train Station is valued at $10 to $20 per sqm, Kong explained.”Infrastructure developments are pushing land prices to increase. And for the past two years or so, the price of land along National Road 3 has risen by 10 percent year-on-year.” Kong said.As the National Road 3 connects Phnom Penh to the south’s tourist hotspots like Kampot and Kep, the reconstruction of the major highway has led to factory and warehouse developments, with multiple landed housing commonly known as “borey” projects starting alongside it.”Kampot has strong potential to be the next industrial zone, so land prices are likely to increase over time.” he concluded.Sorn Seap, founder and director of Key Real Estate, said that the National Road 3 that connects Ring Road 3 has every bit of potential to be an industrial and logistics hub for the region.”The National Road 3 is expected to replace National Road 4 as the primary route for transportation of goods to and from the deep seaports. And when the rehabilitation is finished, we expect more factories and warehouses to set up next to it,” he said.“Development of Ring Road 3, which is connected to the National Road 3, is also expected since the city government (Phnom Penh) mandated that factories must settle outside the city,” he added. ”Normally, the price of land meant for factory developments in Cambodia is cheaper than land for residential projects. However, when there are enterprises such as factories, residential projects will follow to support industrial projects. And setting aside the National Road 4, the National Road 3 has a lot of factories compared to other areas” Sorn Seap said.National Road 3 is one of the major national highways in Cambodia. With a total length of 202 kilometres, it connects Phnom Penh to the southern town of Veal Renh where the National Road 3 and 4 meets. A 20km portion of National Road 3 is being rehabilitated to host two big events, namely: Kampot’s Sea Festival, the three-day event organised by the Cambodian government to promote the country’s tourism attractions will happen on December 27 to 29, 2019, and the “1st World Cycling Tour of Cambodia Bay”, an international cycling tournament hosted by Cambodia, where cyclists from around the world will race on Cambodia’s coastal roads on January 2020.For ordinary folk like An Chanthla, who saw his fortune multiply in a matter of months, every bit of development along Cambodia’s major roads serves as a boon for people like him.”We can sleep better at night, worrying a lot less about our jobs,” he paused and said, “We see a bright future ahead because our land is giving us hope.”If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Find out more about our Cambodia Real Estate Awards 2019 here.Article by:

(Cambodian Prime Minister Hun Sen cut a red ribbon at the inauguration ceremony last week. Facebook page)  The Cambodian Prime Minister Hun Sen inaugurated a newly built cement factory in Kampot province on Thursday last week, making the total number of cement plants in Cambodia to five, according to a post on his official Facebook page. The new cement plant is called the Thai Boon Roong Cement Factory invested by a Cambodian conglomerate Thai Boon Roong Group. It sits on nearly 700 hectares of land located in Dangtong district’s Laang commune, Kampot province. The new cement factory is expected to create up to 335 permanent jobs, 90 percent of which are local employees, the post adds. According to a report by Xinhua News, the new cement factory cost $110 million to build. It can produce up to 2500 tonnes of cement a day and up to nearly 1 million tonnes a year. Together with four other factories, three of which are located in Kampot, and one in the northwestern part of Battambang, can collectively produce up to 8 million tonnes of cement per year.(The Cambodian premier addresses the crow in Kampot last Thursday. Facebook page) Addressing the crowd at the inauguration ceremony, Prime Minister Hun Sen welcomed the establishment of the facility and shared his enthusiasm that Cambodia has such facilities to locally produce and supply the high demands in the country - especially when its construction sector is booming.(The newly built $110 dollar cement plant, it can produce up to nearly 2500 tonnes of cement a day. Facebook page) “This is a new achievement on top of the existing achievements we already have. The establishment of this cement plant is an establishment of Cambodia’s heavy industry to contribute to the construction sector that is currently booming, especially the construction of buildings that are needed by people and all sectors” the post reads.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019. For more information about our Cambodia Real Estate Awards here! Article by:

Borey LJ, a landed housing project in Por Senchey district. Realestate.com.khCambodia has seen rapid growth in the past years, especially in the real estate sector. Thousands of new buildings are built across the country, mainly in Sihanoukville and Phnom Penh. Real estate agencies and agents play an important role as they help these projects to carry on their plans with sales.The growth of the real estate industry has led to an increasing number of real estate agencies and agents and intense competition among them. However, some property experts say developers should consider offering an “exclusive sales agreement” to a particular agency for a better sales outcome.According to Mr. Kim Heang, CEO of Khmer Real Estate, having one agency to represent developers is better than having multiple agencies because they will be more committed to promote and sell projects.“With developers, I always raise the idea of no exclusivity, no deal. We want to ensure that at the end of the process, we will be compensated for our work,” he said.“If we don’t have the exclusive right to sell the property, we might as well work as employees of the property owner,” he added.More and more real estate agencies in Cambodia require property owners to offer them exclusive rights to sell their properties, he continued.However, using multiple real estate agencies at a time is still a common practice among developers in Cambodia.Korn Kungkea, CEO of ERA Cambodia, confirmed that there is indeed a new trend towards exclusivity and said it will be more common in the future, but he adds that at the moment, the majority of developers are still using multiple agencies to represent their projects.“If the developers choose to have many agencies selling for them, the leading agencies with large teams will likely not participate,” he said.“The agents often pay for professional photography, copywriting, or videos to promote the property. So, if there are many agencies to sell one project, they will just wait for one another to do promotion and advertisement,” he added.Moek Chenda, founder of realestate.com.kh, Cambodia’s leading real estate-focused marketing company, said exclusive sales agreements could help promote healthy cooperation between agents and reduce unfair competition in the market.“This method will push for better cooperation between agencies. Those agencies that have exclusive sale agreements can work together based on their resources without taking advantage of each other. For example, if one agency has a client looking for a certain property, but that agency doesn’t have anything to offer, so they can refer the client to another agency that has,” he added.However, Mr. Chenda warns that exclusive agreement requires the agency to work hard and have a clear goal if they could not sell the property on time it will affect the company’s reputation.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Registration for Cambodia Real Estate Awards 2019 is open.Article by:

(From the left,  Mr. Suos Chenda, his excellency Nong Piseth and Mr. Thomas O'Sullivan. Phan Soumy) Realestate.com.kh held a press conference on Thursday morning at Lumiere Residence to officially announce the launch of Cambodia Real Estate Awards 2019 (CREA 2019), a platform created to recognise excellence in Cambodia's real estate industry.CREA 2019 is the second annual Cambodia Real Estate Awards, organised by Realestate.com.kh, a leading real estate marketing company, in collaboration with the Ministry of Economy and Finance (MEF) and the Cambodian Valuers and Estate Agents Association (CVEA).Joining Mr. Thomas O'Sullivan, the CEO of Realestate.com.kh, at the conference were His Excellency Nong Piseth, head of the department of real estate business and pawnshop of MEF and Mr. Suos Chenda, secretary-general of CVEA.His Excellency, Piseth, has welcomed and supported Realestate.com.kh's initiative in organising this award ceremony. He encouraged Realestate.com.kh to continue hosting it for years to come."On behalf of the ministry of economy and finance, I would like to warmly welcome and support it, because it allows a competition amongst the top-performers [agencies and agents]", His Excellency Nong Piseth said.CREA 2019 promotes world standard practices in real estateDuring this opening remarks, Thomas O'Sullivan, the CEO of Realestate.com.kh said, "The objective of the Cambodia Real Estate Awards is to assist in further professionalising the Cambodia real estate industry by recognising the leading agents and agencies and celebrating the finest real estate practices nationwide.""The mission of the Cambodia Real Estate Awards is to recognise the achievements of the Cambodian real estate industry objectively, without bias or undue influence and on a wholly inclusive basis, that allows all firm and individuals to participate regardless of the size or wealth of their operation," he added.Mr. Suos Chenda, secretary-general of CVEA also encouraged all the Cambodia-based agencies and agents to enter CREA 2019 as it is significant for their branding and businesses. Winning awards demonstrate their recognised abilities and top-performances to especially foreign investors who are interested in investing in Cambodia.He said, "Real Estate Award is very important. I would like to encourage all the agencies and agents to enter the competition to win awards in order to demonstrate your abilities, to show them, especially to real estate developers."(From the left,  Mr. Suos Chenda, his excellency Nong Piseth and Mr. Thomas O'Sullivan. Phan Soumy) Agencies and agents must be legally registered with MEF for entryCambodia's real estate sector is swiftly growing over the past years. The growth has led to a tremendous increase in the numbers of agencies and agents in the country. As a result, there are flaws and irregular practices within the sector, including those who operate in the market without legal licenses issued by MEF.Realestate.com.kh wants to help improve practices and celebrate those who are committed to staying professional. Therefore, it has employed a strict screening process for entering the competition.As of now, over 30 leading agencies have entered the competition and over 60 entries for individual awards.To be eligible for entry, all agencies and agents must possess all required licenses issued by MEF and be a member of CVEA.Registration to CREA 2019 can be done quickly online following three easy steps as below: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.It is one more week to go for agencies and agents interested in entering the competition. The registration deadline is on 21 November 2019. The Cambodia Real Estate AwardsMore than 20 awards will be given out to winning agencies and individuals. They are divided into two categories, including Agent Awards and Agency Awards. Agencies are classified into two types, determined by the number of employees, corporate and enterprise agencies. The corporate agencies have 1-15 staff while Enterprise agencies have a 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 YearPublic voting for the Agency of Choice Award and Agent of Choice Award will start from 25 November till 06 December via CREA 2019's website and social media channels.(From the left,  Mr. Suos Chenda, his excellency Nong Piseth and Mr. Thomas O'Sullivan. Phan Soumy)Benefits of joining CREA 2019There are a lot of benefits to joining the CREA 2019 competition. As a winner, you will be recognised as a leader in the Cambodia real estate industry, awarded the iconic Cambodia Real Estate Awards trophy in which the design is inspired by Cambodia's landmark architectures by late Cambodian renowned architect, Vann Molyvann and a certificate."Most importantly, the agents and agencies that win awards, they also win a seal which they can use for the marketing for the rest of the year. It helps buyers, renters, developers, investors, and homebuyers to recognise those agents and they will trust those agents," Mr. Thomas said.Judging process for CREA 2019All the awardees of CREA 2019 will be judged and decided by a committee made up of respectful individuals and professionals in Cambodia's real estate industry, in combination with public voting online via Realestate.com.kh's website and social media channels. Judges for CREA 2019 include:Mr. Om Sengbora, Founder & Chairman of CEO MasterclubMr. Blaise Kilian, Executive Director of EuroCham CambodiaMs. Seka Hep, Sarin & Associates Partner of DFDL CambodiaMr. Teng Rithy, Founder & Chairman of R Investment GroupRealestate.com.kh will remain independent and stand aside from the judging process to guarantee that the judging process is fair and free from any bias and the whole process will be monitored with diligence by an established accounting and auditing firm, Cambodian Investment Management.Gala dinner at Sofitel Hotel The 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. Over 500 attendees are expected to attend, including leading real estate agents, developers, government officials, lawyers, economists, investors, home buyers and more. Sponsors and media partnersThis event is generously supported by Cellcard, KW Cambodia, Lumiere Residence, TNAOT News and CEO Masterclub.Media partners include CTN, Khmer Times, Freshnews, Fang.com, Thmey Thmey, BizKhmer, Property area Asia and EuroCham Cambodia.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 305If 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:

The Morgan Group is offering a considerable discount and promotion with “limited time” for condo units within the Morgan EnMaison project, one of the latest and most significant property developments in Cambodia’s Phnom Penh city.Sixteen condo units within the Sky Condo at the Morgan EnMaison are now on limited sale. For an upfront down payment of $10,000 on a unite, Morgan EnMaison offers a matching $10,000 instant discount off the total price. That’s a massive deal, so hurry up before the units sell out.The Morgan EnMaison is located in Chroy Changva district, one of the most vibrant and fastest-growing neighbourhoods often dubbed as the Manhattan of Phnom Penh. It takes only 15 mins to travel to the central part of the city with excellent access.Currently, the district is booming with multi-million new property development projects. It is rapidly becoming a business hub with more major local and international companies settling down their regional offices.Morgan EnMaison to become modern Phnom Penh’s new landmarkMorgan EnMaison is a $160 million project. Its developer, the Morganford Group, a China-based real estate developer with years of experience with property developments in more than 20 cities across Asia, aims to make Morgan EnMaison as the new benchmark for the riverfront lifestyle of Phnom Penh and the representation of modern lifestyle facility in this regional fastest-developing city.The Morgan EnMaison is sitting on the 25,000 square meters of land, and the total amount of the complex is 400,000 square meters consisting of 5 buildings, including two 47 storeys, two 54 storeys and one 70 storey tower. There are 6,046 units within the five buildings combined and 39 percent of the complex is dedicated to green gardens. The project is expected for handover in 2022.Morgan Group had the biggest sales at Cambodia Realeastate.com.kh Expo 2019The Morgan Group participated in Cambodia Realestate.com.kh Expo 2019 in early October this year, the 5th in the series of property expo organised by Realestate.com.kh. It sold millions worth of properties within two days and attracted thousands of visitors to its booths.According to a representative of Morgan EnMainson, It noticed that during the 2-day property exhibition, nearly 50 percent of the attendees had visited its booths. As a result, approximately 50 sales were made at the event which worth millions of dollars. It became the company’s most significant sales in history. The group added that it had sold $2 million worth of properties including the sale of the entire floor in one deal at the expo.The Morgan Group brought three of its Cambodia-based latest and prominent real estate development projects, including Morgan EnMaison, Morgan Tower and Morgan Pure Bay, to showcase at the Cambodia Realestate.com.kh Expo 2019.Distinguished features of the Morgan EnMaisonThe Morgan EnMaison project come with a 220-metre high rooftop helipad and multi-level luxury sky club that can offer a unique experience and meets the desires of the city’s elites and business persons. What’s more? The project also offers its residents and visitors with the country’s most beautiful private yacht marina at the junction where three rivers meet and a 200-metre riverside walking path for people to walk for leisure or do outdoor exercise.On top of that, residents at the Morgan EnMaison will also enjoy the one-stop commercial centre and many other amenities at their fingertips, including the world-class shopping malls, infinity pools, restaurants, cafes, clubs, bars, gyms, spas, saunas, sky gardens and more.The Morgan EnMaison will become a new modern lifestyle community for the middle class, high class and elites. You can enjoy a noble lifestyle along with five-star property services including high-speed elevator, 24 hours security, parking lot and the best view of Phnom Penh’s skyline.The Morgan EnMaison is where you can live your lavish lifestyle 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.

In the past years, Cambodia saw an increase in foreign investments in various sectors. The growing number of international companies setting up offices in the country has drawn high demand for office spaces.With more attention and actions taken globally to address the environmentally-related issues and promoting the awareness of the problems, many companies became aware and are doing their best to try reducing impacts on the environment from their actions.Green working space has become a popular solution for companies in a bid to tackle the problems. Having seen this is something Phnom Penh, a city with the growing demand for office supplies lacks, Aquation Hospitality jumps in and offers an eco-friendly office space option with its Aquation Diamond Island project.Aquation Diamond Island is an environmentally-conscious office block with sleek designs, elegant styles and eco-friendly elements which fit with its slogan of "working green, living green". It sets out to be one of a kind of office building in Cambodia with the inclusion of sustainability and environmentally-safe concepts.It is not just some kind of office space. Its campus made up of six different buildings, each hosts two-storey of office space and comes with the greenest interior and exterior designs that offer a relaxing environment for those who work in it. It also helps with stress from work.Aquation Diamond Island is located in Phnom Penh's Diamond Island, one of the fastest developing areas in the city, offering space approximately 10,194 square meters within 50 units ranging from 127 to 284 square metres.Situated in a prime commune of Tonle Bassac means Aquation Diamond Island is surrounded by the most prominent businesses in Cambodia, luxury condo developments, and other facilities including a driving range, pools, gyms, restaurants, banks and international schools. It sure is an ideal area to work and host your companies.Want to find out more about housing types in Cambodia? Read our Investment Guide 2019.Registration for Cambodia Real Estate Awards 2019 is open.