Belt Road Capital Management (BRCM) is a private equity investment manager based in Phnom Penh, Cambodia. Launched in late 2017, the company focuses on investments in the Greater Mekong Sub-Region consisting of Cambodia, Myanmar, Lao PDR, Thailand and Vietnam.BRCM’s principal activities include investing capital in small and medium sized enterprises (SMEs) to support the achievement of strategic goals, facilitate sustainable growth and expand access to new markets. BRCM has an independent management team with vast experience in managing SMEs, advising M&A transactions and guiding investment in the region. The company provides strategic support to its partner companies, leveraging global resources and talent to develop and execute intelligent growth plans. In addition to it's private equity activities in SME's, BRCM also manages special situation investments in the Real Estate and Infrastructure sectors.This year BRCM has made two investments in the Mekong Sub-Region. In January 2018, BRCM partnered with and invested USD $1.8 million into Digital Classifieds Group (DCG), the parent company behind Realestate.com.kh, Cambodia’s leading property portal and marketing agency. DCG also operates general classified and real estate portals in Laos, Papua New Guinea and Fiji.In April 2018, BRCM invested USD $7 million into Oway Group, Myanmar’s leading online travel service provider which operates Myanmar’s largest online travel portal oway.com.mm as well as Oway Ride, a leading ride sharing platform. The investment into Oway was a part of a USD $14.7 million funding round that included Japanese multinational business conglomerate Daiwa as well as the International Finance Corporation (IFC).In June 2018, BRCM invested USD $4 million into Singapore-Hong Kong based Unnitel. Unnitel operates in the telecommunications space, operating one of SE- Asia’s first mobile virtual networks. Most recently, BRCM acquired a 40 percent stake in Sabay Digital Corporation, the leading digital publishing and entertainment group in Cambodia. Sabay focuses on publishing desktop and mobile games for the Cambodian market.  In addition to its private equity activities, BRCM also manages and advises special situation investments, principally in the Real Estate and Infrastructure sectors.BRCM aims to be the Mekong Sub-Region’s premier investment manager and is proud to support the 2018 Cambodia Real Estate Awards (CREA) as one of its main sponsors. BRCM sees the CREA as one of the most prestigious events in Cambodia’s real estate industry and as the best way to recognize and promote excellence in the sector.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

With many mall and shopping center projects finished or set to be completed before the end of 2018, Phnom Penh’s retail space market is set for a banner year.Two weeks ago, Phnom Penh saw the soft opening of Aeon Mall 2. Occupying 151,000 sqm, the Japan-owned shopping complex is the largest in the nation. Aeon Mall 2 brings 70,200 sqm of retail space to the market.Other new malls and shopping centers that are set to be completed include Phnom Penh Megamall (formerly called Parkson Mall), Midtown Community Mall, The Bridge, Downtown 93, The Park, Prince Central Plaza, Noro Mall, Olympia Plaza Mall, and Eden Garden.Together, these new developments will increase to 350,000 sqm - 400,000 sqm the total retail space in Cambodia’s capital city. The current retail supply stands at more than 200,000 sqm. The bulk of new office supply is set for delivery at the end of 2018.“Retail is set for a landmark year with a number of exciting new projects set to complete. AEON 2’s recent opening has fired the starting gun for a wave of new supply which will offer Phnom Penh’s consumers more choice and a wider breadth of experiences to explore,” said James Hodge, CBRE Associate Director.CBRE, according to Mr Hodge, has been working closely with a number of retail developments to deliver the developer’s vision. “It’s really encouraging to see new brands and ideas entering the market,” he stressed.Mr Hodge said more supply in the retail market will bring down rents. “While rent in the retail market has remained broadly static for some time, the volume of new supply and competition that this creates among landlords, especially those of older stock, mean that downward adjustments on rent are likely while the new space is absorbed by occupiers,” he stressed.Currently, quoting rents for prime retail space range from US$28 to US$32/sqm, depending upon location and format of the mall.The office space market, meanwhile, is also in an upswing this year, with demand and supply of office spaces continuing to grow. It was also noted that occupancy rates reached new heights towards the end of 2017, recording a vacancy rate of less than 18 percent across the market. The figure was the lowest rate recorded since the first formal Grade B office entered the market in 2009.Mr Hodge disclosed that approximately, 100,000 sqm of new supply is set to reach the market in 2018, with over 55 percent being strata-titled. In the first quarter of 2018 alone, 60,000 sqm of office space was added to the market.When it opens in May 2018, TK Royal One in Russian Boulevard, which is one of the first buildings in Cambodia to offer strata-titled office space, will add another 7,900 sqm of office space. Keystone and Oval Office Tower, meanwhile, will add a combined 21,500 sqm.According to Mr Hodge, the 2018 supply is largely focused in the Grade B sector, which last year saw the lowest vacancy rate amongst the office grades. “Grade B offices continue to attract tenants with their affordable rents, good safety features and efficient floor plates,” he pointed out.Grade C office space, which is mostly found in older buildings and less desirable locations, accounts for the biggest slice of the total supply at 64 percent. Grade B, which is often newer, well-located office space, accounts for 20 percent, while Grade A office space, which is limited to Vattanac Capital Tower (34,000 sqm) and Exchange Square (15,000 sqm), represents 16 percent of the capital’s total supply.  Mr Hodge’s assertion is backed by a top executive from the real estate firm Century21, who told the local media earlier that Grade B buildings are the most popular among renters. “Sometimes, it is almost impossible to find one,” he said.This year, the office market is seeing greater demand from foreign business operators. “While organisations in the financial and insurance sectors remain very active, we are starting to see greater demand from international co-working operators looking to enter the market for the first time,” Mr Hodge said. Many of these foreign business operators are from China.Higher demand is also driven by more small and medium enterprises (SMEs) looking for space.Mr Hodge is predicting that market for offices in single ownership will continue to perform well across 2018. “However, the volume of supply entering the strata-title market may cause some challenges in this area and potentially act to exert downward pressure on rents across the market,” he stressed.Average office rents across the market are US$15/sqm per month, excluding taxes and service charge. Grade A buildings top the market in terms of rental prices at over US$28/sqm, Grade B offices in the CBD see quoting rents from US$22 to US$26/sqm and rents for Grade C buildings in the centre of the city range from US$12 to US$17/sqm.Looking for office for rent in Cambodia? Or looking for real estate for rent in Phnom Penh? Find it on Realestate.com.kh!

Sihanoukville is one of Cambodia’s most important provinces. Strategically located and home to Cambodia’s sole deepwater seaport, a special economic zone, and many businesses, Sihanoukville is an important economic and trade center, with connections to the rest of Southeast Asia and the world.  A collection of pristine beaches and other attractions also made it Cambodia’s second most popular tourist destination after Siem Reap.Recently, Preah Sihanouk Province, particularly its capital city Sihanoukville, has seen an influx of Chinese moving into the area. Mostly attracted by Sihanoukville’s investment potential and ideal location, these Chinese, who are mostly investors, tourists, and workers, are creating a higher demand for rental properties.Of the more than 6,385 foreigners who requested for work permit in Sihanoukville early this year, 4,498 or 70 percent of them were Chinese.The stronger-than-usual demand for rental properties inevitably led to skyrocketing rental prices. Chea Bunthoeurn, Sales Executive of Century 21 based in Sihanoukville, noted that rents have been growing since last year. “The increase in 2017 was gradual, but this year, rents jumped up much higher in such a short time,” he stressed.Depending on location, it is now 5 to 10 times more expensive to rent houses, villas, apartments, and other properties in Sihanoukville, with those closer to the city center being much more expensive.According to Mr Bunthoeurn, properties located in a stretch between Ochheuteal Beach and Tor Pir, which is seen as having the best investment potential in the city, has drawn the most attention and interest among investors. “Currently, there is almost no rental space available,” he pointed out.A representative from Key Real Estate, for his part, noted that Sangkat Buon in Mittakpheap District has seen the biggest demand for rental properties. “There is a very high demand for vacant plot lands and buildings with multiple rooms in the area between Phsar Leu Market and Tor Pir Roundabout,” he stressed.He said that influx of Chinese drives up demand and rates. “Chinese working in the casinos prefer to rent whole buildings and usually offer double or triple the usual rent,” he pointed out.For shophouses, Mr Bunthoeurn noted that those located in Sangkat Boun are now much more expensive to rent than before. A shophouse than rents for US$500-US$700/month last year is now available for  US$2,500-US$3,000/month this year.With regards to apartments for rent in Sangkat Buon, the one-bedroom types are now renting at US$1,000/month from last year’s US$200 to US$300. For two-bedroom apartments, the rental is now US$2,200 per month.In Sangkat Bei, which is also a part of Mittakpheap District, current rental prices are lower than that of Sangkat Buon but still more expensive compared to last year.A villa that was renting for US$700 a month last year in Sangkat Bei is now available for US$1,500/month.For land, rental rates have also gone up considerably since last year. The Key Real Estate representative pointed out that parcels of land along Ekareach Street in downtown Sihanoukville that fetch for US$500 to US$1,000 per sqm are now two to three times more expensive.“Similarly, plots of land along the beaches in Sangkat Buon and Sangkat Bei have also become more expensive to rent, “he stressed.For land along Sereypheap Street, a non-commercial area, a parcel of land (17m x 20m) that could be rented for US$1,500/month last year is now priced at US$4,500/month. “For land (20m x 30m) along 7 Makara Street, the prevailing rate now is US$6,000 per month,” the Key Real Estate representative noted.With the prevailing trend and more investors coming in, it is expected that rents in Sihanoukville will continue to increase in the near future.In spite of some negative effects, Sihanoukville Governor Yun Min stressed that more investment is good for Sihanoukville. “It helps grow the local economy and brings much-needed revenues, “he stressed.The view was shared by Kim Heang, Cambodian Valuers and Estate Agents Association (CVEA) President, who noted that a country often benefits economically when more investors are coming in.Want to look for real estate for rent in Sihanoukville and current real estate for sale in Sihanoukville? Check out Realestate.com.kh and you also can upload all your properties to sell or rent on Realestate.com.kh today!

Rates expected to increase further after mall openingThe presence of Aeon Mall 2, Phnom Penh’s largest and newest shopping complex which opened its doors to customers today, has increased the value of property in the northwestern part of Phnom Penh, particularly Sen Sok District, one of the up-and-coming areas in the suburbs of Cambodia’s capital city. Aeon Mall 2 is located in Pong Peay, Sen Sok.With a population of more than 160,000, Sen Sok is one of the most populated areas of Phnom Penh. In the last few years, Sen Sok has developed tremendously with many businesses and major infrastructure and residential development projects flooding the area.Just like any other major development projects in the Kingdom, Aeon Mall 2 made an immediate impact on selling and rental prices of land, villas, apartments, condos, and other properties in most of Sen Sok.Unit prices in Borey New World and Borey Angkor Phnom Penh, two residential developments close to Aeon Mall 2, doubled a few months after the announcement.Aeon Mall 1, which opened in 2014, not only stimulated the local economy, but also contributed to the growth of property prices in Tonle Bassac and neighboring areas. The vicinity of Prek Tamak Bridge and proposed new Phnom Penh International Airport also saw property price increase after the projects were announced.Lam Vibol, CEO at L. Vibol Realty (Cambodia), said that since construction of Aeon Mall 2 started in 2016, many developers and projects moved into the area. “Since then, there were more property transactions and prices of land increased every month,” he said.Before construction started, according to Mr Vibol, the price of land less than 1 km away west of the project site was only $300 to $400 per square meter. “But now the same lots now sell for $500 to $700 per sqm.,”he pointed out.He said lots along the main road in the area have seen their prices increase to $700 to $1,000 per sqm. For lots along Oknha Mong Rithy Road, between 1003 and Hanoi Roads, the price increased between $1,500 and $2,500 per sqm. from $1,000 to $1,500 per sqm, according to him.Echoing Mr Vibol, Sorn Seap, the Founder & CEO at Key Real Estate, said Aeon Mall 2 has a big influence on the values and prices of properties in its vicinity.According to him, the average price of land along Chea Sophara Road has grown to $1,500 per sqm. “The price becomes even higher when the property is located closer to the main road,” he stressed.Mr Seap noted that despite the price increase, demand for land in the area is quiet strong. “It is hard to look for vacant lots along the main roads. However, there are still available land to the west and north of the mall,” he pointed out.The selling price of houses in Sen Sok has also increased. According to Mr Vibol, the price of shophouses along the main roads of Sen Sok have more than doubled lately. “Shophouses that sell for $100,000 before are now 3-5 times more expensive,” he pointed out.For shophouse along the sub-main roads, the increase is almost double. “The ones selling for $150,000 are now priced $250, 000,” Mr Vibol noted.Rental rates in the area were also affected by the monumental project.According to Mr Seap, a warehouse can now be rented at $1.5-$2.5 per sqm, shophouse from $500 to $1,500 per month, residential house from $300 to $600 per month, and villa from $1,000 to $2,000 per month. “Renting properties in Sen Sok is more expensive now, compared to two or three years ago,” he noted.Mr Vibol believes that with Aeon Mall 2 already open and more businesses and investors relocating to the area, the selling price and rent of properties will further increase.  “There are still many vacant lands to welcome more projects. We are expecting that the area will become one of Phnom Penh’s new commercial districts,” he said. Aeon Mall 2’s impact on property prices is expected to extend to neighboring areas such as Toul Kork and Russey Keo Districts.Covering 10 hectares and with a floor area of 151,000 square meters, the Japanese-owned Aeon Mall 2 had its soft opening yesterday. Inside the complex are huge department stores, cinemas, bowling alleys, restaurants, pubs and food courts. Outside, is a parking lot that can accommodate 2,500 cars and 2,000 motorcycles.Click here for current real estate for rent in Sen Sok and current real estate for sale in Sen Sok.

R&F Properties Cambodia hosted a ceremony on May 26 to officially open the sale of condominium and apartment units in R&F City, a mixed-use development, which is also the company’s first project in the Kingdom.The event was attended by a host of dignitaries led by Wang Zhihao, R&F Properties CEO, and Lin Yanli, Chairman of R&F Properties Cambodia. Visitors were later allowed to visit the company showroom to see and review the components and various features of the project.The developer says they are confident that the project will contribute to the development, not only of Phnom Penh, but other parts of the country, as well, and that they will build more high-quality projects in Cambodia in the future in-line with the One Belt, One Road Initiative. One Belt, One Road, of which Cambodia is an important partner, is a Chinese-led initiative to strengthen connectivity between Asia, Europe, and Africa.Cambodia is among the fastest-growing economies in Southeast Asia, with growth averaging 7 percent in the last 5 years. Growth is mostly concentrated in Phnom Penh, Sihanoukville, and other major urban centers.R&F Properties Cambodia further stressed that they are seeking to build the best mixed-use property, with the convenience and happiness of Cambodians as their main concern. The development is primarily geared to meet the demands for a modern lifestyle among the local population. Chinese nationals who have come here to work and invest are also being looked on as potential customers.To be built in phases and occupying 760,000 square meters, R&F City, will be among the biggest mixed-use developments in the Kingdom.The first phase of the project has already begun with the construction of Phnom Penh R&F City- Mansion on a lot close to Monivong Boulevard in Phnom Penh.The developer has assured that the project will be built according to international construction standards, utilising high-quality materials.Ideally located close to Phnom Penh’s CBD, R&F City will have condos and apartments sizes ranging from 55 sqm to 130 sqm, with one to three elegantly-designed bedrooms. Occupants and their guests will have access to duty-free shops and a high-end sports club featuring badminton and basketball courts, among other sports facilities. It will also feature a garden designed by world-renowned Pierre Landscape.R&F City is also close to many embassies, restaurants, cafes, banks, ISPP, Royal University of Law and Economics, Aeon Mall, and other amenities. ING City and two major shopping malls, which are scheduled to open in 2021- PH Diamond Mall and PH Eco Mall – are also nearby.R&F Properties Cambodia, which formally entered the Kingdom’s real estate market last December 2017, is the local unit of listed company Guangzhou R&F Properties, one of the top property developers and investors in China.For the past 24 years, Guangzhou R&F Properties has built more than 220 landmark and iconic buildings in more than 50 cities and regions around the world.For those who want to inquire or learn more about R&F City, they can visit the company showroom (corner Monivong Boulevard and St. 334).Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Amid a booming real estate sector, there have been constant construction work going on around Cambodia, particularly in the capital city of Phnom Penh where a bevy of major property projects are being undertaken by local and international construction firms.One of these is SOMA Construction & Development Co., Ltd.,  a local company which is making a name for itself as a fast builder of high-quality infrastructure.SOMA Construction & Development’s reputation as a fast builder of high-standard buildings was in full display when it undertook the one18 Residences project. The one18 Residences is an ongoing residential development adjacent to the Ministry of National Defense; it has 25 storeys with 5 levels of basement for a mechanized car park system.According to a company representative, it only took them 7 days to finish one storey for structural works. “We work very fast on projects, while not sacrificing efficiency and quality,” he said. SOMA Construction & Development is also the builder of such iconic high-rises as Lumiere Hotel in Khan Daun Penh.According to him, SOMA Construction & Development’s construction speed is comparable to other international construction firms, particularly those from China.The company representative noted that several factors explain why they construct major construction projects in just a short time compared to other local and international construction companies. These factors include:  ●     Planning and implementation: The company has a detailed plan, including human resources management/deployment and the work to complete each day. During the implementation process, team leaders and site managers directly review the work progress whether it exactly reflects the plan. Problems and other factors that delay construction work are immediately attended to and corrected.●     Construction materials: The proper and efficient use of available materials accelerate the process. For the one18 Residences, SOMA Construction & Development uses modern materials such as Euro Form, Slip Form and Table Form.●     Human resources: All engineers, construction workers and other personnel at SOMA Construction & Development have extensive experience working on large commercial, mixed-use, and residential development projects.The company representative stressed that good teamwork, high-commitment and experience make the work much more efficient and fast.“The above factors are very important and inter-connected. With an outstanding management and focus on quality and speed, we strongly believe that clients would consider our company for their construction needs,” he said.SOMA Construction & Development Co., Ltd. provides design, consulting (engineering, M.E.P, architectural), project management, building information modeling (BIM), and construction services. The company employs more than 1,200 construction workers, heavy-equipment operators, foremen, designers, engineers, architects, and others. It was involved in several major construction projects in Cambodia, including Phnom Penh International Airport and the soon-to-open AEON Mall 2.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Realestate.com.kh recently launched its official Telegram Messenger account.By subscribing to Telegram, Realestate.com.kh widens it reach and further revolutionizes property marketing in Cambodia, in combination with its user-friendly website and mobile apps.Realestate.com.kh joined Telegram because of its reliability, capacity (can send files up to 1.5GB), and wide reach (more than 200 million users globally).Realestate.com.kh’s Telegram account means that the latest/hottest news in Cambodia’s real estate sector and information on properties for rent and sale in the Kingdom is at your fingertips.Join Realestate.com.kh’s official Telegram today!

Buoyed by massive foreign investments, Cambodia’s real estate sector has grown tremendously in the last decade, with growth mostly evident in Phnom Penh, Siem Reap, and other urban areas, where high-rises now fill up the once-empty skylines.The latest signs point to the sector continuing to grow fast in the next several years. Never to miss a golden opportunity, many property developers from other countries like China, Japan, Korea, Thailand, Vietnam, and Singapore have flocked to Cambodia.One of them was Yuetai Group, a major Chinese real estate developer. Since its founding in 1979, Yuetai Group developed into a billion-dollar enterprise with a solid brand and reputation. The company, which engages in real estate development, construction, and management, has built more than 20 major property projects (commercial and residential) in Beijing, Xian, Haikou, Guangzhou, and other parts of China.The company’s performance and quality work did not go unnoticed. It has won a bunch of accolades, including the Guangdong Top 100 Private Company Award, Top 10 Most Competitive Real Estate Developer Award, and Guangzhou Trustworthy Brand Developer Award.In 2011, Yuetai decided to invest in Cambodia.  A subsidiary, Eastland Development (HK) Ltd., was formed to concentrate on the Cambodia real estate market.Yuetai Group was the developer of two iconic residential development projects in Phnom Penh - EAST ONE and EAST VIEW SOHO.Yuetai Group is presently developing its third major project in the country, The Garden. The Garden is offering the first Smart Homes in Phnom Penh, featuring modern condominium units with an area of 35m2 to 78m2.Built in line with the Smart Home Concept, The Garden is eco-friendly and follows a modern design, while providing a host of amenities for luxurious and comfortable living such as business center, swimming pool, parking spaces. There are also lots of trees and plants around to provide shade and a relaxing atmosphere.A Smart or Automated Home is a dwelling whose functions and features like air-conditioning, TV, water/electric system are operated via an APP.The Garden is located along Veng Sreng Boulevard, an investment hotspot, and is only 15 minutes away from the Phnom Penh International Airport.Units are now selling, and the developer is offering a 3 percent discount for the purchase of any unit. It also offers easy payment terms, with customers allowed to pay via long, interest-free installmentsSince its entry into Cambodia seven years ago, Yuetai Group has done its share as a responsible developer by being actively involved in community affairs, while at the same time contributing to the development of Cambodia and its people.Check out the new development or Yuetai  listing today on Realestate.com.kh!Find out property for rent in Phnom Penh or property for sale in Phnom Penh!

Urban Village is one among many brand new residential development projects in the Kingdom of Cambodia. With its green and community-centric concept, Urban Village extends more than what a typical residential project can provide in terms of comfort, design and affordability.Ideally located in an investment hotspot (Hun Sen Boulevard) to the South of Phnom Penh’s central business district (CBD), Urban Village is close to Aeon Mall, International School of Phnom Penh (ISPP), Mercedes-Benz Cambodia, embassies, restaurants, banks, hotels, hospitals, markets, and other amenities. Its location also means that it is only a few minutes away from the Phnom Penh City Centre and Kandal Province’s Kandal Steung District, where a new international airport, billed as the world’s ninth largest, will soon rise.The DevelopersUrban Village is being developed by Urban Hub, a joint venture between Urban Living Solutions (ULS) and Goldfame Group an international garment production group with a presence in four countries. ULS is the lead developer for site master planning, architecture, design and construction, with Goldfame providing land, financial capital and operations support. Urban Living Solutions is also the developer of Urban Loft, a residential development complex in the Phnom Penh suburbs of Sen Sok.Construction is led by Urban Cambo Builders, the construction firm behind Urban Loft, Factory Phnom Penh and several restaurants around Phnom Penh.The interior and exterior of Urban Village, a green and community-centered residential development in the heart of Phnom Penh.Photo Credits: Photos supplied, 3D renders by Cole AtelierArchitectural and interior designs are courtesy of Harper Architecture and Atelier Cole (Australian & English architects). Construction is led by Urban Cambo Builders, a reputable local construction firm.Urban Village’s green and community-centered concept and its placement next to technology and creative hub Factory Phnom Penh, is what makes it stand out among its peers.Spread over 7.6 hectares, Urban Village devotes over 45 percent of the area to greenery and open spaces, where people can walk or bicycle around to relax. It is also a venue where occupants and their families can interact and get to know each other, with gardens and plants providing shade and a relaxing atmosphere.Urban Village prioritizes function and communal areas to promote interaction between Village neighbors– the first three floors are reserved for strategic retail and recreation centers with modern, functional living units above them. The project aims to provide businesses for everyday use, from cafes, a supermarket, child care hair salons and other retailers that provide everyday necessities.Urban Village comprised of 4,000 European-inspired apartment and condo units. These units are divided into four types of varying sizes, features, and amenities.A typical Type A unit, occupies an area of 50 sqm and features a bedroom, a bathroom, and a balcony. For Type B units, the size increases from 50 sqm to 53 sqm. These units have two bedrooms, one bathroom, and a balcony.Type C units are typically sized 70 sqm to 72 sqm, with 2 bedrooms, a bathroom, and a balcony. The Type C2 variant has 2 balconies. Type D units are the largest at 80 sqm and features 2 bedrooms, a bathroom, and a balcony.Urban Village also features the Private Garden condo complex, with size starting from 103 sqm to 148 sqm. This type of condos is the biggest in Urban Village.Tenants will also have access to a swimming pool, gymnasium, and skateboard park next door at Factory. Future expansion will include new sports facilities, including a football field.A unique feature of Urban Village is The Factory, an old factory complex converted into a mixed used creative hub for business, co-working and the arts.Photos courtesy of Tiffany Tsang & Kobe Khy.Another important and unique feature of the project is Factory Phnom Penh, the adjacent, formerly abandoned factory complex converted into a mixed used creative hub for business offices, coworking and the arts. Factory, which has an area of 1 square kilometer, houses 2,300 square meters of office space and a co-working space, Playspace Montessori School, Fulcrum Cafe, and a wood workshop. The Factory will be a location not only for artists, but also for startups and other businesses seeking to gain a foothold in the Kingdom. Future plans include 2,000 square meters of event space and large concert venue– all within a 4-minute walk from Urban Village.With emphasis on quality, Urban Village developers hired local and international construction experts, and utilized high-grade materials for the project.Phase I is scheduled for handover in the first quarter of 2020, Urban Village is attracting interest and buyers, with over 220 apartment and condo units sold over 6 weeks.Urban Village offers attractive, easy, and flexible payment terms and financing, making it accessible and affordable to all, especially to low and middle-income market who have found it hard to buy in other projects because of high prices and difficulties in securing financing. In addition, Urban Village is also offering special discounts and promotions.Combining accessibility, affordability, luxury, and comfortable living, Urban Village is the perfect choice for local and international buyers and investors.Check out the new development or Urban Village  listing today on Realestate.com.kh!Find out property for rent in Phnom Penh or property for sale in Phnom Penh!

Prince  Real Estate Group is offering special discounts to prospective buyers and customers as Cambodia celebrates the Khmer New Year. There will be a $10,000 discount for those buying a one-bedroom condo unit. This promo is only applicable to 6 units.Another $18,000 discount is offered to those who will buy a two-bedroom condo unit. This promo is limited to 4 units.Limited offers! Hurry up! Don’t miss this amazing opportunity!Prince Real Estate Group is currently developing several major residential/commercial projects in Cambodia, including Prince Central Plaza, Prince Modern Plaza and Diamond One. This year, Prince Real Estate Group will build three more major projects: Prince Collinan Bay and Prince City Centre in Sihanoukville; and Prince International Plaza in Phnom Penh.Please click to view more information http://m.en.jpztzdc.com/ Hotline：099 877700 Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The Banking sector of Cambodia is highly competitive with around 60 banks and other major financial institutions jockeying for position and competing for market share in a country of 16 million people.There are currently 39 commercial banks, 15 specialized banks, and 6 foreign banks representative offices in the country. Nearly $4 billion was loaned out to the construction and real estate sectors last year, but the money came from a just few banks. Latest figures from the National Bank of Cambodia (NBC) show that in 2017 $3.91 billion were loaned out to the construction and real estate sectors, representing 24.28 percent of the $16.10 billion total loan portfolio for 2017.Loans for construction projects reached $1.52 billion, personal home loans $1.48 billion, and loans for real estate trade were valued at $917 million.It was noted, however, that most banks stayed away from direct lending to real estate. For the ones that do so the amount is much smaller compared to other sectors or industries. Risks apparently dissuade these banks from getting more involved with the sector.The risks that banks often think about when dealing with the real estate sector include Market (oversupply results in inability to sell properties), Financial (lack/run out of funds to complete the project), Developer (unmet completion schedules, sub-standard projects) and Legal (title/contract disputes, failure/difficulties in getting necessary permits on time).ACLEDA Bank, for one, offers home loans, but it’s not their priority. According to So Phonnary, ACLEDA Bank Executive Vice President, they use only 7 percent of the bank’s total loan for real estate, and another 1 percent for home improvement loans. ACLEDA’s home loans were worth about $208 million and home improvement loans were about $70.3 million in 2017.Banks offer different loan terms and conditions. For its Home Loan Program, BRED Bank offers a special 6.6 percent interest rate with approval fee waived. Loans can be made in foreign or local currency, payable up to 20 years, available to individual and joint borrowers, and provide for 30 percent minimum downpayment.Guillaume Perdon, BRED Bank CEO, said their bank works closely with a few developers and with end-customers to make their projects come true, but do so with caution.“So far, we have been mainly providing financing solutions to home buyers but we also started to partner directly with developers to create specific offers for their buyers. As regards direct financing to developers, the Bank has a careful approach but we welcome them to come and meet our team so we can discuss of their project,” he said.Since its launching last year, BRED Bank, the only European bank in Cambodia, has disbursed a large number of home loans thanks to its special home loan promotion with very low interest rates.Mr Guillaume said they are directly exposed to a wide variety of risks (credit, financial, operational, market, legal, social and environment, etc.), but are coping with it through the successful implementation of a comprehensive risk management framework.According to him, as part of an international banking group, BRED Bank Cambodia has implemented a strong risk management system fully compliant with local and international regulations. This means defining its risk appetite, strong policies, procedures and organization, an internal control and AML & AMP; Compliance department dedicated to control the operations on a daily basis and a secured information system.“Regarding credit risk, in addition to our sales team, every loan request is reviewed by a dedicated team of analysts who evaluate the level of risk of each project,” he stressed.David Sok Dara Marshall, Chief Risk Officer, Sathapana Bank, said divergent perspectives on risks could be another reason for lesser bank involvement in real estate projects in Cambodia. “When a bank approves a loan to developers, they think about “risk”. Whereas developers may not think much about it. Developers usually think about the profit of the property investment, reputation of the development company and project and the image of the project and the builder," he noted.Mr David added that a bank would give more consideration to a property development designed to provide income streams or revenues from sales or leasing of property.These property include warehouse/factories buildings to rent out, ports or other infrastructure, condominiums, shop houses, school developments, special economic zones, office and mixed-use developments, hotels and resorts.Mr David said a bank’s duty to its stakeholders makes it more cautious when it comes to real estate projects.“Banks have a duty to their stakeholders in managing risk to ensure that they prevent financial losses, keep depositor’s money safe, ensure stability of the financial system and make profits so they can reinvest for growth and pay shareholders dividends and increase shareholder value," he said.Need to borrow money for a property or personal loan? Find out the interest rates of the Cambodia’s best banks!Want to read about Tips for First Time Home Loan Borrowers in Cambodia? Check out Realestate.com.kh!

BRED Bank Cambodia, the only European bank in the Kingdom, has reported success in its first year of operations here.BRED Bank Cambodia is a subsidiary of BRED Banque Populaire, a member of the BPCE Group. The BCPE Group is the second largest banking group in France, serving more than 31.2 million customers, employing more than 100,000 people worldwide, and counting 9 million cooperative shareholders. BPCE has an A/A+ rating.BRED Banque Populaire is a cooperative bank with shareholders’ equity of €3.2 billion (USD 3.9 billion) and 150,000 cooperative shareholders at the end of 2015. It employs 5,000 people, 20 percent of whom work abroad and in the French overseas territories. It is established worldwide with subsidiaries located in the Horn of Africa (Djibouti), the Pacific region (New Caledonia, Vanuatu and Fiji) and Southeast Asia.After a successful first foray into Laos in 2010, the BCPE Group decided to open a subsidiary bank in Cambodia in 2017. BCPE’s Laos subsidiary, which is called BFL (Banque Franco-Lao), currently operates 22 branches serving 30,000 customers.According to company officials BRED Bank Cambodia had a resounding success in its maiden year in the Kingdom. Currently, BRED Bank Cambodia is operating from its Main branch in Phnom Penh, on Norodom Boulevard.After one year in the very dynamic Cambodian market, BRED Bank Cambodia says it is proud to keep its offer and services growing as its customer base increases day by day.For its Home Loan Program, BRED Bank offers a special 6.6 percent interest rate with approval fee waived. Loan can be made in foreign or local currency, payable up to 20 years, available to individual and joint borrowers, and provides for 30 percent minimum downpayment. Special offer on home loan will end on June 30, 2018.BRED Bank’s Personal Loan Program offers generous terms and conditions, including: Borrowing up to USD 15,000, tenor between 6 months and 3 years, no collateral required, loan in local and foreign currency, available to individual or joint borrowers, and interest rate subject to negotiation based on loan amount, tenure, and amortization installment.Its Car Loan Program is very attractive for being customer-friendly, offering the following terms and conditions: Tenor up to 6 years, 20 percent minimum down payment, no mortgage required, loan in local and foreign currency, available in local or foreign currency, and interest rate subject to negotiation based on loan amount, tenure, and amortization installment.BRED Bank caters to the local and expat population in Cambodia. Cambodia’s expat population of more than 80,000 includes a substantial number of Europeans from France, United Kingdom, Germany, and other countries. The number of French people in Cambodia exceeds 5,000.Being the only European Bank in Cambodia, BRED Bank Cambodia says one of its priorities is to facilitate international transactions for its clients. It was noted that BRED Bank’s international transfer rates are very competitive, especially for customers who have an account in France and who choose to open a World Package in BRED Bank Cambodia.The Bank says the last 12 months have been full of great experiences as they kept meeting new clients who trusted their brand and service.It was noted that with fair and reliable services as well as fast processes, BRED Bank has been the first choice to access financing solutions such as personal, car or home loans.“Our objective is to close the gap and offer Cambodian people a trustful interlocutor with whom to talk freely about their projects and ambitions. What matters to us is how we can serve you and help you grow. Start with BRED, Grow with BRED,” said BRED Bank Cambodia CEO, Guillaume Perdon.Need to borrow money for a property or personal loan? Find out the interest rates of the Cambodia’s best banks!Want to read about Tips for First Time Home Loan Borrowers in Cambodia? Check out Realestate.com.kh!

The Cambodia Real Estate Awards (CREA) 2018, the most prestigious event and momentous event for the Cambodia real estate industry this year, was formally launched last March 26, 2018.Nominations for the Awards also opened that same day.Nominating or entering in the CREA is a simple and straightforward process.  Firstly, you identify the Awards categories you want to enter. Secondly, get the necessary information on the criteria of the specific category you want to enter. There are 30 Awards categories, each with a unique criteria. Finally, review the terms and conditions of entry to make sure all requirements are understood and adhered to.Nominations can be submitted directly to Realestate.com.kh office or submitted online (fill up a form) at cambodiarealestateawards.comNominations officially opened last 26 March 2018, and will close on 26 May 2018. Anyone associated with the real estate industry can be nominated for the Awards.Entering or nominating in the CREA is for free. Realestate.com.kh does not charge fees to enter CREA or to winners for receiving the prizes and benefits associated with the Awards.  However, entrants will be responsible for any other costs associated with entering or attending CREA 2018.All nominees (companies and individuals) are required to have the relevant licenses for their business operations from the Ministry of Economy and Finance (MEF) and the General Department of Taxation (GDT). They must also be current members of the Cambodia Valuers and Estate Agents Association (CVEA).A first in Cambodia’s history, the Cambodia Real Estate Awards 2018 aims to recognise leading agents, agencies, and celebrate the finest real estate practices and professionals nationwide.  There are 30 awards up for grabs in CREA 2018, with winners benefiting by way of more exposure, year-long branding crest, and recognition of leaders.Realestate.com.kh, Cambodia’s leading real estate website and marketing agency, is organizing CREA 2018 in partnership with the Ministry of Economy and Finance as official supervisor and Cambodia Valuers and Estate Agents Association as co-organizer.  For more information or inquiries regarding CREA 2018, you may contact NHEAN CHANNEARYBOTH (Assistant Event Manager) at both.neary@realestate.com.kh/ +855 8975 5777.

It is a big pride for Siem Reap Province as The Heritage Walk, Siem Reap’s first lifestyle complex, awarded The Best Retail Architectural Design from PropertyGuru Cambodia Property Award event which was held on 16 March 2018 at Sofitel Phnom Penh Phokeethra, Cambodia. This annual PropertyGuru Cambodia Property Awards is part of the regional Asia Property Awards programme established in 2005 ,and it is the biggest real estate event and most exclusive industry awards in the Kingdom, with the top and emerging names in real estate celebrating the best developers, projects and designs in Phnom Penh, Siem Reap and Sihanoukville.In 2018 , 19 noticeable projects and developers were shortlisted and being nominated for 25 awards in different categories. Noticeably, The Heritage Walk is the only project in Siem Reap that was nominated for Best Retail Architectural Design Award which at the end won The Best Retail Architectural Design. During the award session, Mr. Sopheak CHHEANG, General Manager of The Heritage Walk, delivered a speech showing his gratitude of being selected as the winner.He stated, “I am so glad and proud to be here and holding this award tonight as the representative of The Heritage Walk project. Developed by local developer and architectures this awards represent the achievement of our effort that we have dedicated to this project”.In the short interview with PropertyGuru, Mr. Sopheak added that Siem Reap is the magnificent ancient city of Cambodia which attracts millions of foreign and local visitors every year. However, we found out that this city is lack of varieties of a quality hang out and eating place that is the reason why we came up with the idea to create The Heritage Walk to fulfil this continuous increasing demand. Situated in the very prestigious area together with a twist of modern and colonial architecture that embodied with a strong sense of cultural beauty, The Heritage Walk is emerging as another iconic building and transforming the beauty of Siem Reap City to the next level.”, Sopheak added. To be noticed, The Heritage Walk is developed & invested by Metro Lifestyle Development Co., Ltd., Design and Architecture by Five Arch Architect Company, constructed by SOMA Construction & Development Co., Ltd and managed by Emerald+ Professional Property Management.According the Mr. Sopheak, The Heritage Walk will open in late Q2 of 2018 with many well-known tenants such as Legend Cinema, Starbucks, BROWN coffee, Amazon, The Pizza Company, Bar B Q Plaza, Swensen, Dairy Queen, KOI, Tous Les Jour, Lotteria, The Asian Kitchen, The Hashi, Kids Park, Phum Chhnganh, Monument Book, Brand Collection, Miniso, WK Remax, T-Shop, Yves Rocher, Dr. Skin Clinic. Besides, this lifestyle complex will also be filled with Sky bar, Super market, Toys shops, and a rooftop space for event function. The Heritage Walk will be the hub of varieties of restaurant that have never exist before in this ancient city, but it will also become a new hangout venue and entertainment destination for both local residents and tourists.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Toong, a Vietnamese co-working space operator, is now in Cambodia. Toong’s foray into Cambodia means that the company now has a presence in the entire Indochina.  Toong already operates in Vietnam and nearby Laos.Toong’s entry into Cambodia is part of its expansion following a successful launch in Vientiane, Laos last month. Toong launched its co-working space venture in Laos in partnership with BIM Group, a Vietnam-based property developer.“Many of our customers were active in all three countries of Indochina including Vietnam, Laos and Cambodia. Therefore, building the co-working space model in all three markets will facilitate the movement of customers,” said Toong CEO and founder Duong Do.The new co-working space in Cambodia covers an area of 700 sqm. Located in the center of Phnom Penh, the new Toong outlet incorporates Khmer culture in its design.Toong will bring competition to existing co-working space companies in Cambodia like Impact Hub and Emerald Hub.Toong’s entry into Cambodia will is a big boost to the company as it seeks to become one of the largest co-working space chains in Indochina. The company is targeting to increase its total floor area from 6,000 sqm to 13,000 sqm by the end of 2018.Toong’s Vietnam operation is conducted over seven co-working spaces across Hanoi and Ho Chi Minh City.Co-working space is a relatively new concept to Cambodia and Laos. The first co-working space in Cambodia was established by expats in 2010. It was called Hackerspace. It was followed a year later by SmallWorld, which was run by locals.Co-working means a group of people- usually freelancers and independent contractors- sharing a workplace and values but working independently. Co-working allows freelancers to escape the isolation, while avoiding the distractions of home.Search for the latest real estate news and investment opportunities on Realestate.com.khLooking for office for rent in Cambodia?

Oknha Sear Rithy, one of the most respected and prominent Cambodian businessmen, said Cambodia is on the right track amidst the challenges of modern times.In an exclusive interview, Oknha Sear Rithy noted that Cambodia has a come along-way from an impoverished country beset by constant strife and rampant poverty to one of the fastest-growing economies in Asia.  Peace only returned to this former French colony after the signing of the Paris Peace Agreements in 1991 which ended decades of Civil War.In the last 15 years, Cambodia’s economy has grown by an average of 7 percent.  In 2016, Cambodia also achieved Lower-Middle Income status after being classed as Low Income for many years.Oknha Sear Rithy said growth from 2000 to 2018 was mainly concentrated in these four areas: industry, tourism, property, and agriculture.In the decade, according to him, the property sector emerged as the top driver of the Cambodian economy. “In the last ten years we can say that property has taken over as the top element,” he said.Cambodia’s consistent economic growth has led to a growing middle class. “The middle class of Cambodia now is mostly young teenagers,” he pointed out.Oknha Sear Rithy also noted Phnom Penh’s phenomenal growth. From a “ghost city” during the time of the Khmer Rouge, Phnom Penh is back to its former status as “Paris of the East”.Peace and massive investments are often cited as the main reasons for Phnom Penh’s turnaround.“There are more investment from China, Japan, and some other countries,” he noted.Phnom Penh’s growth is evident in the construction frenzy going on around every part of the city. Business is also booming in many parts of the city, with new restaurants, hotels, shopping marts, and other businesses popping up almost every week.Construction of seven new shopping malls is ongoing, with several more in the pipeline for next year.Oknha Sear Rithy’s rise to become one of Cambodia’s most successful businessmen is an interesting story by itself.  Cambodia was transitioning to democracy when Oknha Sear Rithy was appointed as Freight Auditor for United Nations Transitional Authority in Cambodia in the early 1990s.Oknha Sear Rithy started his own company a few years later, distinguishing himself as a trailblazing entrepreneur of the new Cambodia. It was just the beginning of a long and very successful career in real estate.Oknha Sear Rithy soon became one of Cambodia’s most renowned property developers. He built a name for himself by building iconic developments such as The Peak, The Bridge, and The Palms. He has also been responsible for the launch of the nation’s first affordable housing project.Today, he is CEO of WorldBridge Group. WorldBridge also led Singapore Listed developer Oxley Holdings into the Cambodian market, joint venturing with WorldBridge on various world class developers.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Received Winner in 3 Categories, and Highly Recommended in 2 CategoriesPhnom Penh – ARATA Garden Residences has been named a winner in “Best Housing Architectural Design”, and highly recommended in “Best Housing Development” and “Best Housing Landscape Architectural Design” in Property Guru Cambodia Property Awards 2018. In the Developer Awards categories, moreover, Creed Group and Triple Gem Asset Co., Ltd. have won two awards; “Corporate Social Responsibility” and “Sustainable Development”.                                                                   Property Guru Cambodia Property Awards is the biggest real estate event in Cambodia, and was celebrated on March 16th, 2018 at Sofitel Phnom Penh Phokeethra. There were 26 award categories in total, including the Developer Awards, Design Awards, and Development Awards (Condo, Housing, and Commercial Development), and according to Realestate.com, “[the event] was attended by more than 360 guests, VIPs, and members of the press”.ARATA Garden Residences is Creed Group’s third residential project in Cambodia, and comprises more than 500 units on phase 1, providing various selection of house types available from Shop House (A&B), Luxury Link Villa (A&B), Twin Villa, Jack Villa, Queen Villa, to King Villa. Its architectural concepts were created in collaboration of Cambodian and Japanese cultures, and the Villas’ layout is carefully designed to utilize all the space and the smooth flow for the residents. Sustainability is also one of the Creed Group’s architectural design concepts in every projects, and it offers the favorable balance of modern living and nature.Creed Group: Established in 1996, Creed Group is a Japanese real estate investment firm with abundant experience in the mature real estate market in Japan. To date, Creed Group has completed hundreds of projects globally.Triple Gem Assets Co., Ltd.: Triple Gem has started a joint investment with Creed in Cambodia in 2015, and they have three on-going projects in Phnom Penh “Bodaiju Residences”, “Borey Maha Sensok”, and “ARATA Garden Residences”.Get more information about ARATA Garden Residences and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Phnom Penh, March 26, 2018The Cambodian real estate industry has been growing rapidly in recent years. The high number of real estate projects completed, underway, or in the pipeline are testament to the growth and potential of the industry. Meanwhile, the entrance of International real estate agency franchises and brands marks a sector that is coming of age and opportunity. Within this growing industry there exists individuals and companies that have contributed greatly to this growth, and in establishing a real estate industry in pursuit of service, ethics and success.Leading the industry to reward top performers for their efforts and professionalism, Realestate.com.kh, and the Cambodia Valuers and Estate Agents Association (CVEA)​ supported by the Ministry of Economy and Finance (MEF), have organized the inaugural Cambodia Real Estate Awards (CREA) 2018; an awards series that will recognize leading agents, agencies, and celebrate the finest real estate practices and professionals nationwide.There is no cost associated with entering or winning awards at the CREA and winners will be judged and awarded through a panel of respected industry professionals, in combination with public opinion obtained through online voting mechanisms. Realestate.com.kh​ and CVEA, as the event organisers, will remain wholly independent and separate from the judging process. CREA follows a globally proven model that awards excellence across the industry in a transparent, objective and ultimately fair way.The judging process will be monitored with diligence by established accounting and auditing firm Cambodian Investment Management (CIM) to ensure the awards are free from any bias.Finalists and Awards winners will be granted the prestigious CREA seal which can be used in their marketing materials, along with a trophy and a certificate confirming their personal or company achievement.The mission of the CREA is to recognize the achievements of the Cambodian real estate industry objectively, without bias or undue influence and on a wholly inclusive basis, which allows all firms and individuals to participate regardless of the size or wealth of their operation. The awards will be available for real estate agencies, valuation and property management firms and project sales teams, nationwide. The awards will only be open to firms who have the correct licenses with the MEF and must be registered member of CVEA.Mr. Tom O’Sullivan, CEO of Realestate.com.kh, organizer of the CREA, notes that, “This is Realestate.com.kh’s chance to give back to the real estate industry, offering the opportunity for all businesses in the industry to celebrate the achievements that have been made. We are delighted to launch the Cambodia Real Estate Awards 2018, with support from the Ministry of Economy and Finance; and we sincerely hope that this awards series will lead to a new era or professionalism, competition and excellence for the Cambodian real estate industry as a whole.”His Excellency Mey Vann, Delegate of the Royal Government of Cambodia in charge as Director General of the General Department of Financial Industry, Ministry of Economy and Finance comments that, “The CREA, led by Realestate.com.kh and CVEA, is an event to reward those agents and agencies that are running legitimate operations in Cambodia - and pushing themselves to build stronger and better real estate businesses. It is with pride that the MEF joins Realestate.com.kh and CVEA in this endeavour.”Shortlisted nominees and the broader real estate industry will be invited to join an Awards Ceremony and Gala Dinner celebrating the industry’s milestones, which will be held at Sofitel Hotel Phnom Penh on June 27, 2018. Ticket sales and sponsorship for this prestigious event are now open!We would like to thank our platinum sponsor Aristo Developers who is one of the most dynamic and credible Cyprus property developer companies, providing a unique opportunity for investors focused on Citizenship via investment for the EU.We would also like to thank our Silver sponsor Propease, your one stop property management app, as well as Camhomes and bronze sponsor Creed-Group.Thanks to CTN, Biz Khmer, Thmey Thmey, Fresh News, Khmer Times, KICPAA and all the media for making this event possible.Nominations and Judging Panel:Nominations open from today, March 26, and will be closed on 26 May 2018. Anyone associated with the real estate industry can be nominated for the Awards, and nominations are totally free. However, all nominated companies and individuals must have relevant licenses for their business operations, as verified by the MEF.A distinguished panel of judges will assemble to analyse the entry submissions, under the head judge, Dr Sok Siphana. Dr Sok is the Managing Partner at SokSiphan​a&associates (a member of ZICO Law), a corporate law firm in Phnom Penh, and an Advisor to the Royal Government of Cambodia.​ Other judges include Mr Steven Path, Founder and CEO of leading-software firm Pathmazing;  Co-founder and CTO of tech (virtual reality) startup in Silicon Valley, USA to disrupt real estate market in California; President of ICT Federation of Cambodia; Dr Simon Vancliff, Investment and Development Director at ING Holdings Co., Ltd; MRICS Registered Valuer; Vice-Chairman of the EuroCham Cambodia Real Estate and Construction Committee; Mr Teng Rithy, Founder and Director at R’ Investment Group and Mr Anthony Galliano, Group Chairman, Cambodian Investment Management (CIM). Renowned accounting and auditing firm, Cambodia Investment Management (CIM), will oversee the entire judging process of CREA 2018 to ensure it is conducted objectively and with utmost integrity from start to finish.Dr Sok Siphana comments that, “I am proud to be the inaugural CREA’s head judge. As the values of this event suggest, we will manage the judging process with the utmost respect to the nominees and greater industry. The judging panel will be impartial, thorough and reward those agents, agencies and sales teams that are truly most deserving. I look forward to this year’s event, and the years that will follow for this prestigious event. I thank Realestate.com.kh for this great opportunity.”Uniquely, the CREA will also integrate an online public voting process, allowing the general public to offer their opinion on which agents and agencies are most deserving of awards. These public votes will be weighted by the judges, as depending on the Awards category. Voting will be hosted on cambodiarealestateawards.com and Realestate.com.kh’s social media channels.Award Categories:The 30 awards are divided into two categories: Agency Based Awards and Individual Awards.Agency Based Awards are: Real Estate Agency of the Year; Best Up and Coming Agency of the Year (Rising Tiger Award); Regional Agency Award; Valuation Company of the Year; Property Management Agency of the Year; Commercial Agency of the Year; People’s Choice Award; and Employer of Choice Award. Individual Awards are: Service to the Industry Award (Hall of Famer), Rookie Agent Award (The Rising Tiger) and the Agent of the Year Awards, which is divided into 6 categories: Sales Agent of the Year; Rental Agent of the Year; Commercial Agent of the Year; Valuation Agent of the Year; and Property Manager of the Year. One visionary individual will also be awarded the “Hall of Famer” award and inducted into the CREA hall of fame, for overall service to the Cambodian real estate industry.For finalists and award winners, the Cambodia Real Estate Awards prestigious seal will be granted to be used in their marketing materials throughout 2018, along with a trophy and certificate confirming their achievement.For more information, please visit the event website: cambodiarealestateawards.comAbout Realestate.com.kh:Established in 2009 by Cambodian National Moek Chenda, Realestate.com.kh has grown to be the leading real estate website and marketing company in Cambodia, working with the nation's leading real estate agencies, developers and lenders. In 2015, Australian-based DCG partnered with Moek to develop the business rapidly. The platform, in Khmer, English and Chinese languages, has over 40,000 properties for sale and rent, with tens of thousands of property hunters visiting the website and app each month. Realestate.com.kh also produces a quarterly real estate magazine entitled “Cambodia Real Estate” in English and Chinese languages, and co-produce a weekly property section with the Khmer Times newspaper. Realestate.com.kh also hosts the “Cambodia Real Estate Show” series, which has facilitated over USD 30 million in direct sales in 2017 alone.Keep track the updated information of the coming Cambodia Real Estate Awards in 2018!

Khan Daun Penh (Daun Penh District) is one of Phnom Penh’s major districts. Together with neighbouring Boeung Keng Kang (BKK), Daun Penh represents some of the busiest economic hubs in Cambodia’s capital city.  Daun Penh is also a popular area for expats. Its popularity is mainly attributed to its strategic location. Daun Penh is close to the Riverside area, where many hotels, restaurants, coffee shops, and other favorite hangouts of expats are located.  Also located in the area are major businesses like the Sorya Shopping Center and Mokod Pich Jewelry Enterprise, the largest jewelry company in Cambodia.Daun Penh district occupies about 7.44 square kilometers and is divided into 11 Sangkats.Paul Ellender, Property Consultant at Freer Properties, said rental prices (at least in Daun Penh) are stagnating, if not dropping. He noted that prospective tenants are negotiating quite ruthlessly and most (not all) landlords are responding.“Many landlords want to get at least some rent rather than leave their properties vacant for extended periods. Some, of course, are standing firm, waiting for the ideal rent,” he said.Mr Ellender explained that the glut of condos on the market is contributing to this as tenants can get a brand new space, with gym, pool, city views and roof terrace for $50/week more than an older colonial building with street views.Heng Vathana, CEO of Century 21 Golden Realty, echoed Mr. Ellender’s assertions. According to him, overall rental price in Daun Penh has stagnated since 2017 but rental demand is still relatively strong. “One the reasons of the stagnation is the oversupply in Phnom Penh,” he stressed.Mr Heng said rental property in Daun Penh has a great potential.  “This is due to the increasing number of foreigners, strategic location, and residential buildings that have the best amenities,” he said.The current rental prices stagnation mainly covers condos, villas, apartments, and houses. Just like in other countries, oversupply in the market is often the cause of rental price stagnation in Cambodia, particularly in Phnom Penh. But other factors, like the political situation, sometime play a role.For condominiums alone, the supply for 2018 is expected to increase by 87 percent, from 16,300 to 30,500 units, in addition to another 1,200 serviced apartments. Some of these properties that are slated for rental are located in Daun Penh.Mr Ellender noted that at the same time, there is also the increasing ASEAN market that is seeking more home comforts for better rates. “I am equally surprised by some of the low condo rental prices as I am the high ones,” he stressed.Mr Ellender said these developments has not diminished Daun Penh’s popularity.“Nothing much has changed in this respect – Riverside is still relatively safe for foreigners, there is a vibrant nightlife, places to eat and the river offers open space that is difficult to find in wider Phnom Penh,”he stressed.Crispian Knowles, Manager at Seaps Cambodia, sees the situation a little differently. Mr Knowles said this year Daun Penh started strong, with inquiries and demands for serviced apartments on the rise in areas like the Riverside.Notwithstanding the price stagnation, demand for rental properties in Daun remains high.Mr Knowles said he believes this trend will continue as more relocating expats continue to arrive.  “Basically, Daun Penh is the central area, easily accessible to all major roads, airport, shopping, nightlife. It is really a vibrant hub. And the popular locations still tend to be, in the heart of Riverside, mainly due to nightlife, bars, restaurants among other amenities,” he noted.With regards to the rental rates, Mr Knowles said that prices vary from 1-bedroom quality apartments starting at $350 per month, to high-end luxury condos at $1,000 per month.Looking for real estate for rent in Daun Penh  or real estate for sale in  Daun Penh? or Read The Ultimate Guide To Phnom Penh by Realestate.com.kh

CapitaLand, through its shopping mall business unit CapitaLand Retail, has signed an agreement to manage a new mall, which is slated to be one of the biggest and most modern shopping areas in Cambodia’s capital and business center of Phnom Penh.The mall is the retail component of The Peak, an integrated development project being developed by Cambodia’s WorldBridge Land and Singapore’s Oxley. Under the agreement, CapitaLand will be in-charge of the mall’s planning, pre-opening, and retail management. The mall is five stories high and has a floor area of 420,000 square feet.Wilson Tan, CEO of CapitaLand Retail, noted Cambodia’s economic potential and said they are well-positioned to maximize the retail potential of The Peak.“Cambodia has in recent years attracted the interest of international retailers – including Singapore-based brands – who are keen to tap the country’s rising spending power and growing tourist arrivals.  This has led to an increase in demand for well-located and well-designed retail spaces in the country,” he said.Cambodia’s economy has grown by an average of 7 percent in the last five years, buoyed by a massive infusion of foreign capital and tourism growth. Phnom Penh, Sihanoukville, and Siem Reap are the fastest-growing areas in Cambodia.“Given The Peak’s strategic location in central Phnom Penh and high-grade building specifications, it is well-positioned to meet the requirements of quality retailers seeking to serve the growing aspirations of the city’s community.  CapitaLand will leverage our expertise in retail asset management and industry-leading retailer network of about 17,000 leases to maximise the retail potential of The Peak,” Mr Tan added.Ching Chiat Kwong, Oxley Holdings Executive Chairman and CEO, said they are confident that CapitaLand will do a good job."With CapitaLand as our retail manager, we are confident of optimising returns for The Peak by focusing on our core business of developing and marketing the project. Given Oxley's diversified global portfolio in countries including Singapore, the United Kingdom, Ireland, China, Indonesia and Myanmar, we look forward to the possibility of deeper collaboration with CapitaLand in the future,” he stressed.Based in Singapore, CapitaLand is one of Asia’s largest real estate companies. CapitaLand Retail already operates shopping malls in other parts of Asia, including China, Singapore, Japan, Malaysia, Vietnam, and India.Located in the heart of Phnom Penh and facing the River Esplanade, The 55-storey Peak, with its 1,014 luxury condominiums, is considered one grandest and most expensive real estate projects underway in the city. The Peak is expected to start operations in 2020.Through Ascott Limited, its service residence business unit, CapitaLand already manages one serviced residence in Phnom Penh- CASA Meridian. It is also slated to manage Somerset Norodom Phnom Penh and Somerset Meridian Square Phnom Penh, which will open this year and next year, respectively.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…See the full listing for The Peak on Realestate.com.kh now!