Ministry approves 1,643 construction projectsIn a sign that a roaring building boom will continue unabated for the foreseeable future, Cambodia’s construction and real estate sector, one of the four main pillars of the country’s economy, has drawn US$2.15 billion in investment projects in the first half of this year. The other three pillars are manufacturing (garment) sector, tourism, and agriculture.This was according to the latest report released by the Ministry of Land Management, Urban Planning, and Construction (MLMUPC). The MLMUPC is the government agency that is in-charge, regulates, and keeps track of real estate developments in Cambodia.The same Report noted that from January to June 2018 MLMUPC approved a total of 1,643 projects on 5.35 million square meters of land.With the current trend, it is very much conceivable that Cambodia will surpass the number of approved projects and total construction investment recorded last year. In 2017, a total of 3,052 projects on 10.74 million square meters of land worth a combined US$6.42 billion were given the go-signal by the MLMUPC.China is the leading real estate investor in Cambodia, followed by South Korea and Japan. Taiwan, Singapore, Malaysia, and Taiwan also have substantial real estate investments in Cambodia.Leading Chinese real estate developers and investors like Prince Real Estate Group, Guangzhou Yuetai Group,  Guangzhou R&F Properties, and Jiayuan International Group have major property projects underway or in the pipeline in different parts of the country.South Korean real estate investors in Cambodia include Booyoung Town, Yon Woo Co., Ltd., and World City Co. Leading the Japanese pack is CREED and Arakawa.Seng Loth, MLMUPC spokesman, told the media that residential, commercial, and mixed-use developments have sprung-up in different parts of the country in the last five years. He said these include high-rise buildings, new towns, and residential complexes.While Phnom Penh, Siem Reap, and Sihanoukville have the majority of real estate projects, major projects have long sprung-up in up-and-coming areas like Koh Kong, Kep, Battambang, and Poipet on that Thai border.From a few hundred five years ago, Mr Seng, noted that Cambodia now hosts nearly 1,000 high-rise buildings (5-54 floors) and 200 locations of new towns and residential complexes. Once-empty skylines have given way to high-rises as the building boom in Cambodia continues.Major real estate developments that were completed or underway in Phnom Penh include The Palm, Prince Central Plaza, The Parkway, CEO KT Pacific, and The Bridge. In Sihanoukville, the list includes D’Seaview, Blue Bay, and SeaGate Suite. From Siem, the most prominent includes Heritage Walk and a host of borey (gated community) projects.Mr Seng credited peace, relative political stability, business-friendly environment, and incentives as the main reasons why investors are not afraid to invest billions of dollars in Cambodia’s property sector. Others cite Cambodia’s rapid economic growth as another reason for investors’ confidence in Cambodia.Buoyed by agriculture, tourism, manufacturing (garment), and construction /real estate sector, Cambodia’s economy has grown by an astonishing average of 7 percent in the last five years, the biggest in Southeast Asia.Last year, the manufacturing (garment sector) accounted for the lion share of Cambodia’s US$22 billion gross domestic product (GDP) at 30 percent, followed by construction and real estate  29 percent, agriculture 25 percent and tourism 13 percent.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?

2 premier serviced apartments by Oakwood to debut in PP next yearOakwood Worldwide, a premier global corporate housing and serviced apartment provider, will soon have a presence in Cambodia.Media reports disclosed that the company is planning to open three properties in Indochina next year as part of its regional expansion. One of these will be in Vietnam, while the rest will be in Cambodia.Dean Schreiber, Oakwood Worldwide (Asia-Pacific) Managing Director, noted the company’s strong performance in China and Japan and said they are thrilled to have a bigger presence in Southeast Asia.The company also sees the golden investment opportunity presented by both countries to those in the hospitality and housing business. The economies of Vietnam and Cambodia are among the fastest-growing in Southeast Asia in recent times. Mainly buoyed by massive investments in the property and manufacturing sectors, the Cambodian economy has grown by an average of nearly 7 percent in the last decade."Cambodia and Vietnam have been rapidly developing with healthy economic growth rates and this is an opportune time for Oakwood to establish itself as we foresee increasing demand for long-term accommodation,” Mr Schreiber stressed.The two properties that Oakwood plans to have in Cambodia are Oakwood Premier Phnom Penh and Oakwood Hotel & Residence Phnom Penh. Both are slated to open in the middle of 2019.The two developments will bring a combined 388 units (220 for Oakwood Premier Phnom Penh and 168 for Oakwood Hotel & Residence Phnom Penh) of hotel rooms, penthouses, studio-type, and one-, two-, and three-bedroom apartments to the market. These will also feature luxury amenities like swimming pool, restaurants, meeting places, lounges, and children’s playroom.Both developments will be located in One Park. One Park is a new mixed-use development in the heart of Phnom Penh, which boasts of residential towers (with condos, serviced apartments, etc.), office and retail spaces, medical facility, and an international school.Oakwood Premier Phnom Penh and Oakwood Hotel & Residence will join a long list of hotel and serviced apartment developments in Phnom Penh, which include Himarawi Hotel Apartments, Central Mansions, Embassy Place, and Maple Leaf.Oakwood Worldwide was acquired last year by Mapletree Investments, a leading Singaporean real estate, investment, and capital management company. Based in California, USA, the company has a presence in the United States and 55 other countries.Looking for Service Apartment for rent in Phnom Penh?Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

In 2001, Yuetai Group was listed on the Shanghai Stock Exchange in China, becoming one of the first listed real estate companies in the entire country. The company recorded extraordinary achievements in Cambodia that has won the gratitude and admiration of people from all walks of life. Yuetai Group has developed or has acquired a number of landmark projects in the Kingdom, including East One, East View, and East Commercial Center.Phnom Penh Harbour- is set to become the iconic riverfront development in the country and one of the biggest mixed-use projects Cambodia will ever see, Phnom Penh Harbour will comprise of 22 buildings spread along the riverbank in Khan Daun Penh, a popular commercial and residential area in the heart of Cambodia’s capital city.  To learn more details about Phnom Penh Harbour and about Yuetai Group’s successful venture into Cambodia, Realestate.com.kh CEO THOMAS O’SULLIVAN recently sat down with SAM YANG, Vice President of Yuetai Holdings. The following is an excerpt from the interview, which has been edited for length and clarity.REAKH: When did you first come to Cambodia? And What made you choose Cambodia over other countries in Southeast Asia?YUETAI: I came here six years ago. In the first two years I was here, I fell in love with the culture, the people and how accepting of other cultures. I found that compared to Singapore and Thailand, Cambodia has really a long rich history, Khmer history, Angkor culture. I simply fell in love with the country.REAKH: What other things have continued to inspire you to invest in the local economy?YUETAI: Well, I can talk all day about the economic growth, the good investment opportunities with the GDP growth, but everyone knows about that. But the truth, alongside the growth of the economy, it is the culture that I like the most.  For the past 6 years, I worked very hard and personally, I have a family, I have my kids during the time I stayed in Cambodia. I treat Cambodia as my second home. It’s more love of the country to ask me to stay and invest here. We currently employ over 350 people, so it is motivating when I think about how many employment opportunities we are creating as well.  REAKH: Can you tell me a more about the Yuetai Group?YUETAI: Most of our operations is related to real estate. We are dedicated and focused on bringing the best real estate products to the people. In addition to real estate, we want a full coverage of services to all of the customers. That’s why alongside real estate development, we developed financing, property management, and hotel management sectors to comprehensively provide service to our customers and buyers.REAKH: We have come here this morning to do the launching of the project. We wanted to ask you a little bit more about Phnom Penh Harbour itself. Can we start by asking about the size of the project.YUETAI: The total gross area is 1.05 million square meters. It is a high-rise building complex built along the river, and includes Grade A office buildings, 5-Star hotels, large shopping malls, more than 6,000 parking spaces, serviced apartments, and market-leading high-end apartments.REAKH: Can you tell us what inspired the design of the project.YUETAI: What happened is that we are not thinking about purchasing a land, develop, and sell. When we look at the land, my board, my designer, and I personally, if we feel that it is one of a kind, and you won’t have another opportunity to develop something similar in Cambodia.We just don’t make it a commercial development project. We want it to become a city symbol. We want to bring what’s not known of Phnom Penh or Cambodia to the world.  We want others to know Angkor culture and art through Yuetai. That’s the reason who we put all these elements- cultural, touristic, artistic, and historical elements- together in the project.Instead of making it into a purely commercial space, we actually want to make it one of the best tourist attractions in Cambodia, and even in Asian countries.REAKH: Can you tell us when you are starting construction.YUETAI: Construction will start in September. The actual busy time would be after the rainy season. We are waiting for the dry season to actually start the whole construction.REAKH: I understand the project will be built in four phases. Can you tell us when individual phases can be expected until we finish the project.YUETAI: Actually, the four phases are all open. Why we separate them into four phases is that phase 1 would be the new White Swan Hotel. Then we will help PVAP have their new, 25-floor office there. Of course, we will have duty-free shops alongside a 5-Star hotel. And then we will have Grade A offices there, as well.The second phase is mainly serviced apartments and Grade A office buildings. We are really keen on doing office development in Cambodia. We know there is a shortage of Grade A and Grade B offices in Cambodia at the moment. Phase 2 would also consist of a shopping mall. We are already negotiating with top class brands like LV and Gucci to actually bring in the shopping experience to Cambodia, to actually let Cambodians and tourists spend money in Cambodia. I noticed that a lot of Cambodians shop in Bangkok or Singapore. Why fly to Bangkok or Singapore? Shop here and spend money in Cambodia.Phase 3 would be our serviced apartment sector that will also include a French-style commercial street. Phase 4 would be our condominium section. We will have another French-style commercial street, alongside our condominiums. These condominiums are designed mainly for locals. A lot of condos here are designed for foreigners or foreign buyers. But we want to build something that is affordable to local buyers, for the local middle-class.REAKH: How long the project is expected to take?YUETAI: To finish all four phases, probably it will take around 7 years. Phases 1 and 2 will be completed in 4 years, phase 3 in 5 years, and Phase 4 will be completed in 6-7 years.REAKH: What are the other impacts of a project of this size in terms of employment numbers for a city like Phnom Penh?YUETAI: At the beginning, of course, the top management will be international professionals. But in the future, we want to have all or 90 percent of mall and property management to be locals. That’s why we have Tourism and Property Management schools. We want to train the locals to be part of our management teams. Currently, our Chinese staff consists of 30 to 40 percent of our total staff number. In the future, we want to shrink the number to about 5 to 10 percent. We want to become a more local company run by a local management. When it is in full operation it will create roughly 4,000 to 6,000 jobs.REAKH: When I think about this project, I think Cambodia will finally be getting its own ‘Orchard Road’. But I am sure the question on everyone’s lips I am sure is what the developer is doing about projected traffic congestion in the area?YUETAI: We will set up more than what we are supposed to set up by the urban regulations to expand the current road into a four-lane one. And we will also have huge underground spaces for the internal traffic to travel inside the underground, and for the external traffic to travel outside. We will have river plazas alongside the riverside walkways. We don’t want people to just walk by, we want them to gather.  We also want a plaza to promote fine arts in Cambodia. Me, my Board, and the designers, we do this project with passion. We want to make it a one of a kind. This is going to be a signature of Phnom Penh and cannot be compared to anything else.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…Check out Phnom Penh Harbour on Realestate.com.kh

Camhomes: Witness the Topping Up of D’Seaview CondominiumThe wait is finally over. Camhomes will be celebrating its Topping-Up ceremony for its flagship development, D’Seaview Condominium, this week in Sihanoukville.“The Topping-Up ceremony will be hosted on June 27, 2018 and presided over by His Excellency, Yun Min, the Governor of Preah Sihanouk Province,” said Mr. Kuoch Lengkheang, PR & Marketing Strategy Manager of PH One Development (Cambodia) Limited. “We welcome everyone to the site to witness the topping-up of D’seaview Condominium,” he added.D’Seaview offers a combination of both residential and commercial options, complete with 24-hour manned security service, a swimming pool, a fitness center, lush garden, a squash court, food court, restaurants, and car parking facility.Mr. Valy, 42, bought a residential unit at D’Seaview last month, after consulting with the real estate expert at Camhomes. “I want a unit there so that I do not need to worry about finding accommodation there during the peak holiday season,” said Mr. Valy, “Many of my friends bought units there too, we believe it will become the landmark development in Sihanoukville and it will be easy for me to rent it out when it is ready,” said Ms Riya, 35, whom bought 2 residential units in the development too. They will be attending the ceremony to be among the first few to witness the Topping-Up ceremony.D’Seaview is designed to incorporate abundant natural daylight and airflow and to offer all-round unblocked panoramic views of the ocean, as majority of its units faces the sea. The construction of the condominium is expected to be completed in 2nd quarter of year 2019.The D’Seaview site is located at Land Plot No. 204, Village 1, Sangkat 3, Krong Preah Sihanouk, Preah Sihanouk province.With this occasion, Camhomes will provide to all attendees at the Topping-Up ceremony with High-Tea refreshments and exclusive promotion for buyers of each unit booked successfully on the day.If you are interested in D’Seaview, visit the showroom at Canadia Tower, level 3 and speak to the Camhomes experts, to discover the full scope of its potential for you. Call the hotline at 097 768 9191 or 097 768 9090. Or visit the showrooms in both Phnom Penh (Canadia Tower level 3) and Sihanoukville (D’Seaview Site).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…Check out D’seaview on Realestate.com.kh

Phnom Penh, July 7, 2018Organizers of the Cambodia Real Estate 2018 (CREA) are proud to reveal the winners of this year’s most prestigious event in Cambodia’s property sector.The winners were announced and recognized during the Gala Dinner and Awards Ceremony held at Sofitel Phnom Penh on Friday evening. The star-studded gathering, which was broadcasted live on social media, brought together more than 200 industry leaders, high-ranking Government officials, and other VIPs from across the sector.Leading the pack of winners in the Agency Awards was CBRE, which took home three awards. CBRE, which is one of the leading and largest real estate agencies in Cambodia, was recognized as the Commercial Agency of the Year, Agency of Choice, and Property Management Company of the Year.For the Individual Awards, there was a different winner for each category. CPL Cambodia won big, with two of its people, Oknha Cheng Kheng and Lok Chumteav Bun Navy, winning the Real Estate Agent of the Year and Sales Agent of the Year Awards, respectively“The winners rightly deserve our recognition and accolades for pursuing excellence and setting an example for others to emulate,” said Head Judge, Dr. Sok Siphana.The 15 award winners were handed the prestigious CREA seal, iconic trophy and a certificate confirming their personal or company achievement.Realestate.com.kh CEO, Thomas O’Sullivan, said, “The Cambodian real estate industry has experienced tremendous success in the last few years. Many hardworking and dedicated real estate agents have contributed to this success. It is imperative for us to recognize these people, and also the top-performing property agencies, for their achievements and contributions.”“We wish to thank everyone-our partners, sponsors and all others who have contributed in one way or another to the success of this momentous event. We sincerely hope that this undertaking, which also gave Realestate.com.kh the opportunity to give back to the industry, will lead to a new era of professionalism, competition and excellence in the Cambodia real estate industry,” he added.Kim Heang, CVEA President, thanked Realestate.com.kh for coming up with the idea and for being the main force behind the inaugural CREA. He also stressed the importance of having similar events in the future.“As I have said earlier, we need to have more of these events in the future to give value and reward the top performers in the Cambodia real estate industry, at the same time promote the industry and Cambodia to the outside world,” he said.A first in Cambodia’s history, the CREA was principally organized by Realestate.com.kh, the Kingdom’s leading property portal and marketing agency, with the support of Ministry of Economy and Finance (MEF) and the Cambodian Valuers and Estate Agents Association (CVEA).The CREA recognize the top performing agents and agencies, and celebrate the milestones of Cambodia’s property industry. The Awards mark the first time that efforts of the Cambodia real estate industry were acclaimed globally and on a wholly objective basis.To promote professionalism, entries were required to be members of CVEA and registered with the MEF.Joining Dr. Sok Siphana on the panel of judges are Steven Path, Founder and CEO of leading software firm Pathmazing and President of ICT Federation of Cambodia; Dr. Simon Vancliff, Investment and Development Director at ING Holdings and Vice Chairman of the EuroCham Cambodia Real Estate and Construction Committee; Teng Rithy, Founder and Director of R’Investment Group; and Anthony Galliano, Group Chairman, Cambodian Investment Management.An online public voting process was also integrated into the CREA, allowing the general public to offer their opinion on which agents and agencies are most deserving of awards.The CREA are supported by Cheng Fung Investment (main sponsor). Other sponsors included Belt Road Capital Management, Yuetai Group, Aristo, Camhomes, Sky Villa, Le Bassac, NC Max World, Orkide Villa, BRED Bank, Creed Group, The Parkway, PropEase, Gold Zone Media, Crystal Orange Construction, Silk Road Properties, Zenearth, AIMS, DFDL, Pathmazing and realestateCRM.Media partners included Fresh News, Thmey Thmey, EuroCham, CTN, Khmer Times, KICPAA and BizKhmer. Complete list of winnersAgency Based Awards:Regional Agency of the Year: IPS Cambodia (Siem Reap office)  Valuation Company of the Year:Knight Frank CambodiaLocal Valuation Agency of the Year:Key Real Estate and Khmer Foundation & Appraisal (KFA)Property Management Company of the Year:CBRE Cambodia - Prince Phnom Penh TowerCommercial Agency of the Year:CBRE CambodiaReal Estate Agency of the Year:(Enterprise: Companies with 16 or more employees): Cambodia Properties Limited (CPL Cambodia)Real Estate Agency of the Year (Corporate: Companies with 8 - 15 employees):South East Asia Property Services (SEAPS Cambodia)Employer of Choice Award:Yi Fung Real Estate CambodiaAgency of Choice Award:CBRE Cambodia   Individual Awards:Best Up and Coming Agent of the Year:Chanthy Koy - IPS Cambodia (Independent Property Services)Real Estate Agent of the Year:Oknha Cheng Kheng - Cambodia Properties Limited (CPL)Rental Agent of the Year:Thyda Pov - CBRE CambodiaSales Agent of the Year:Lok Chumteav Bun Navy - Cambodia Properties Limited (CPL)Valuation Professional of the Year:Oknha Noun Rithy - Khmer Foundation & Appraisals (KFA)Agent of Choice Award:Rithy Seap - Yi Fung Real Estate Cambodia  Media contacts:Nara Cheng, Content Manager, Realestate.com.kh (Eng. & Khmer) +855 16333717 / nara.cheng@realestate.com.khHuy Hong Cheng, Chief Editor (Chinese), Realestate.com.kh +855 98526671 / cheng.huyhong@realestate.com.khRealestate.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?

Close to the iconic Olympic Stadium in Phnom Penh is another ongoing luxury mixed-use development that was designed by the same people responsible for Taipei 101, a landmark of Taiwan and one of the tallest structures in the world.Called Sky Villa, the development consists of twin 35-storey towers and a 15-storey office building built on a 6,000 sqm plot land overlooking Sihanouk Boulevard, an investment hotspot, which is also one of Phnom Penh’s busiest thoroughfares.The development is a cross between private and broad-minded; active and static; natural and prosperous; and classic and modern.Around the project location is an array of restaurants, cafes, mini-marts, clinics, drug stores, banks/ATMs, hotels, international schools, bus stations, and other amenities.The Phnom Penh International Airport, Cambodia Railways, and other transportation hubs can be reached by car in less than 30 minutes. Phnom Penh Landmarks like Orrusey Market, Olympic Market, Independence Monument, Royal Palace, National Museum, Riverside are also close by.The project is being undertaken by Crystal Orange Construction Plc., a renowned Taiwanese developer. Architectural design is courtesy C.Y. Lee and Partners, which also designed Taipei 101.The developer has partnered with Lee design Incorporation for interior design; Chan Moon Architecture Lighting Design for lighting; and A Just International Property Management Group for property management.Other partners include MCC Overseas Ltd., Shanghai Baoye Group Co., Ltd, Cathay United Bank (Cambodia), and Power Win Real Estate Co., Ltd.These partners are renowned and have proven track records in their respective fields.Its developer envisioned Sky Villa to be an identifying landmark for Phnom Penh, similar to what the Petronas Twin Towers has done for Kuala Lumpur in Malaysia. Sky Villa broke ground in 2014 and is expected to be completed by December 2019.Sky Villa boasts of 256 luxury condominiums of four types, sizes ranging from 300 sqm to 400 sqm, with 2 to 4 well-designed bedrooms. Each of these units has a spacious balcony, where occupants can grow plants or small trees to ward off the heat and dust.The multi-million dollar investment is topped by a massive observation deck with picture-perfect views of Phnom Penh and its suburbs.Sky Villa also features a grand reception area, sky lounge, locker, snack area, ballroom, KTV, rest area, wine cellar/reading room, children’s playroom, swimming pool, massage room, offices, conference room, pavilion, and a gym.Occupants can also avail of property management services, 24-hour security, and a spacious parking area that can accommodate more than 500 vehicles.Check out Sky villa project on Realestate.com.khFind the new development on Realestate.com.kh

Architecture is the art and science of design that provide us the physical environment we live in. Many projects now are built with the high attention of architectural design which is primarily concerned with structures of the master plan and the interrelationship of the facilities that are necessary to build for life.In the history of modern architecture, the architect aimed to improve the living environment of people.  The renowned architects like Le Corbusier, Walter Gropius and Ernst May, tried to design the city and housing for people, connected with light, air and green.During the era of New Khmer Architecture, Vann Molyvann tried to improve and modernize the life of Khmer people. Molyvann respected traditional lifestyle but modernize it through new structural ideas, construction ideas, planning and facilities.Masaaki Iwamoto, Architect & Assistant Professor of Faculty of Design at Kyushu University, said that architecture can improve the lives of everyone. Vann’s projects such as "One Hundreds Houses" in Toul Kork and "Grey Building", the apartment at Bassac riverfront, are the excellent examples of how architecture can improve life through design.” he stressed.Mr. Masaaki, however, noted that there is no correct architectural model; it depends on architects’ idea. “For me, rational and reasonable design to the context is very essential,” he said.“In addition to this, structural safety, flexibility and adaptation to the climate and lifestyle will be always important for lives,” he added.Currently, there are many residential development projects launching and building across the country, particularly Phnom Penh and Sihanoukville. The Seagate Suite is one of the mixed-use developments with the construction of 1,118 units across 45 story complex in Sihanoukville.Mr. Yeli, Design Director of The Seagate Suite, said that we build to connect life to the nature with the luxurious lifestyle.“The Seagate Suite is geographically situated in the ideal location where most of the buildings face fantastic view of the sea, island, and mountain and the stunning views of boom town of Sihanoukville,” he stressed out.More than home, at The Seagate Suite, it is purposely designed for luxurious lifestyle where residents can work, pay, stay, Eat &amp and shop at one destination.Similar to the Seagate, Bodaiju Residences, a mixed use residential project in Phnom Penh, occupied more than two hectares of land area and will have more 900 units across the six-14 story buildings. Cheng Sokha, Deputy Sales & Marketing Director of CREED ASIA (CAMBODIA) cited that master plan is always the main core of all projects. While architectural design for sustainable mixed-use property will contribute a big value to the project.In regard to the detail and finish of the building, Ms. Sokha believed that the good layout and high quality finishing always add up value for design and livable home.Echoing Ms. Sokha’s view, Hun Chansan, Director of Re-Edge Architecture & Design disclosed that good architecture and design would add value and improve the lifestyle of the people who reside in.He believes that it adds values in term of outlook of the building as well as its performance to the human activities and the surrounding environment. Architecture and design can also create large or intimate spaces that all walks-of-life will experience. Thus it has the power to evoke a certain feeling or senses that make them comfort, happy, nostalgic, healthy, efficient, or even proud of it.Ultimately, architectural design plays very important role for both physical environmental and valuable property. “Only innovative design that sells. If the development loses to pay no much attention to the design, it will affect the value, quality, pride, modernity and convenience of both developer and residents,” Mr. Yeli said.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?

200 + construction projects went up in the last 3 yearsSihanoukville, a fast-developing urban area that hosts Cambodia’s sole deepwater seaport, is experiencing a building boom rivalled only by touristy Siem Reap and the Kingdom’s capital city of Phnom Penh.In the last 3 years, more than 200 residential, commercial, and mixed-use development projects have gone up in different parts of Sihanoukville, which lies about 250 km from Phnom Penh.Most of these projects were multi-million dollar condominium/apartment complexes, hotels, resorts, malls, casinos, etc. In 2017 alone, the Sihanoukville Land Management Department approved 51 construction projects.These developments, which have a combined worth of several billion dollars, have transformed the once sleepy backpacker paradise into one of the most developed areas of the country.This week, a topping–up ceremony will be held for the newly-completed D’Seaview, a major condominium complex in Sokha Beach, Sihanoukville. Developed by a Singaporean firm, HLH Group, through its local subsidiary Camhomes, D’Seaview is composed of 737 residential units, 67 commercial units, a 10-storey hotel, mall, restaurants, among other facilities and amenities.Ongoing projects include the SeaGate Suite, a US$200 million mixed-use development by KHCN International Investment & Development Co, Ltd. that sits atop Victory Beach.  There is also the 38-storey Blue Bay Resort by Shu Jian Tian Yu Development Co, Ltd along Independence Beach, another US$200 million mixed-use development that will soon be a fixture of the Sihanoukville skyline.Two weeks ago, Sky View Investment began construction in Sihanoukville of the Sky Mountain Business Centre and Sky Mountain View Hotel. The project is estimated to cost US$109 million.Major international hotel brands are also flocking to Sihanoukville.The globally-renowned Marriott Group is also developing a 58-storey hotel with 888 rooms in Treasure Island Beach, Sihanoukville. The 5-Star Le Meridien Hotel, which will be a part of a US$200 million complex called Lyon D’Or, is targeted for completion in 2022.In the popular Otres Beach, local developer Tang Kung Group recently broke the ground for its US$25 million Jing Nan Hotel, a mixed-use development of 4 buildings, including hotel, commercial/office spaces, and residential units built over 32,000 sqm of land.Around 10 hotel projects in Sihanoukville are expected to be completed before the end of 2018, bringing with them more than 1,000 hotel rooms. Sihanoukville and the rest of Preah Sihanouk Province have more than 80 hotels and 3,000 guesthouses. The hotels account for a combined 4,000 plus rooms.There are also many major development projects for Sihanoukville that are in the pipeline or on the drawing board.Last week, Cambodia witnessed the groundbreaking for the US$1 billion Wisney World resort project.  The monumental development, which is a joint undertaking of China’s AMC International and Malaysia’s SV International, will include water parks, hotels, casinos, and malls built over a 65-hectare lot in Sihanoukville.Prince Real Estate (Cambodia) Group, a new entrant and one of the most respected and successful property developers in Cambodia, is set to build the Prince Cullinan Bay and Prince City Centre in two different areas of the city.Prince Cullinan Bay is chiefly a leisure and recreational complex built over 2.6 hectares of prime lot along Victory Beach. Prince City Centre, meanwhile, will be an international-standard, mixed-use development that will sit atop 16 hectares of prime land in the center of the city, close to the Golden Lions Roundabout.Deputy Prime Minister Men Sam An noted that Sihanoukville has become a magnet for foreign investors lately.  “Currently, Sihanoukville Province is becoming a more popular tourist destination and is attracting international investment,” Ms An stressed during the Wisney World groundbreaking ceremony.A top executive of SeaGate Suite earlier described Sihanoukville as the ‘Precious Pearl’ of Cambodia that most investors wanted to be part of. He noted that Sihanoukville offers numerous lucrative business opportunities.The presence of Sihanoukville Special Economic Zone (SSEZ), Sihanoukville International Airport (SIA), and Sihanoukville Autonomous Port (PAS) have also made Sihanoukville popular with investors, especially property developers.Of the more than 200 property projects built in Sihanoukville since 2015, a majority of them are owned by Chinese developers and investors. China accounted for more than 30 percent of the more than US$6.3 billion capital that flowed into Cambodia last year. A substantial part of that investment flowed into the Sihanoukville property sector.Japanese, Korean, Taiwanese, Malaysian, American, European, Thai, and Singaporean investors and developers also have substantial property investments in Sihanoukville.San Chey, Executive Director of the Affiliated Network for Social Accountability – Cambodia (AFNSA), said that Sihanoukville has benefited immensely from Chinese investments. He said these benefits are in the form of increased tax collection and a rise in real estate prices and rents.But Mr Chey cautioned that investments should not come solely from China. He stressed that it should not only be the Chinese investing in projects in Sihanoukville, but other nationalities as well.Looking for real estate for rent in Sihanoukville  or real estate for sale in Sihanoukville? Want to learn more about Sihanoukville? Check out Sihanoukville Property Market Rising Fast and Sihanoukville Infrastructure and Tourism Trends now!

Following the “One Belt, One Road” and “21st Century Maritime Silk Road” initiatives, Guangzhou R&F Properties, one of the top property developers in China has ventured into Cambodia with its first offering, R&F City.A mixed-use development, R&F City is ideally situated close to two investment hotspots, Monivong and Hun Sen Boulevards. Its location means that it is only 10 km away from the proposed new Phnom Penh International Airport and a mere 3km from PH Diamond Mall and PH ECO Mall, two major shopping complexes that are set to open in 2021. Aeon Mall, ISPP, foreign embassies, and a magnificent string of shops, cafes, restaurants, banks, hotels, and other amenities are also close by.Occupying 760,000 square meters of land, R&F City features 30,000 sqm of gorgeous private gardens, courtesy of the world-renowned Pierre Landscape.This made R&F City a stunningly-beautiful, environmentally-friendly development, a trend that is becoming more common in the developed world.R&F City will have condos and apartments sizes ranging from 54 sqm to 130 sqm, with one to three elegantly-designed bedrooms. Occupants and their visitors will also have access to duty-free shops and a high-end sports club featuring badminton and basketball courts, 50 x 20 m international-standard swimming pool, and a track for walking/jogging.For entertainment needs, there is a billiards room and other entertainment facilities and amenities.Tianli Property Management, a renowned provider of first class property management service in China, was contracted to provide high-quality residential management and maintenance services.The project is ongoing and expected to be completed by 2020. Unit sales have commenced, and everyone is welcome to visit the company showroom along Monivong Boulevard, #380, Phnom Penh.The Hong Kong-listed Guangzhou R&F Properties is developing the project through its local subsidiary, R&F Properties Cambodia.With origins in Southern China, Guangzhou R&F Properties is one of the largest and most successful property developers in China.The company has more than 24 years of experience in the real estate business, mostly in the areas of design, development, engineering supervision, sales, and property management.From China, the company expanded to other countries, including Malaysia, UK, and Cambodia. Guangzhou R&F Properties has developed more than 220 landmark projects in more than 50 cities and regions across the globe.In 2017, R&F Properties created a buzz in the property world after it acquired 77 Wanda hotels. In the next two years, the company is projected become one of the largest luxury hotel owners in the world.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…Check out R&F City project on Realestate.com.kh

The United Nations Development Programme (UNDP) is supporting the Phnom Penh Special Economic Zone’s (PPSEZ) housing project that will build several thousand affordable housing units for low-income workers in and nearby the zone.The project, which is on the architectural design stage, will see the construction of 3,136 housing units on a 7-hectare lot within the PPSEZ. Located in the outskirt of Phnom Penh along National Road (NR) 4, the PPSEZ has an area of 357 hectares. There are more than 80 factories within that employ 17,000 people, many of them female factory workers.With the economy booming, Phnom Penh, in recent years, has seen an influx of low-income workers moving to the city to work in factories and construction projects.Michelle Zhao, PPSEZ Senior Manager, noted that there are many ongoing housing projects in Phnom Penh, but only a few of them were targeted at people in the middle to low-income brackets.While PPSEZ workers will be the priority, other poor people living outside the PPSEZ can also avail of the project. “The houses will be affordable and will provide them with decent living conditions,” she stressed.“Our affordable housing project targets workers. Based on our survey, over 76 percent of our workers’ income are more than $200 and over 20 percent are more than $300 per month,” she pointed out.Each unit, which will sell from US$17,000, will have an area of 36 sqm. In addition to the houses, the project will also include stores, cafes, parksand other amenities.Nick Beresford, Country Director of UNDP in Cambodia, said their agency is providing assistance primarily in the area of design. “We are aiming to help as much as we can in terms of designs that will lower the cost, increase the quality and ensure sustainable living, “he stressed.Last month, PPSEZ, UNDP and Building Trust International launched the Affordable Housing Design Challenge, seeking to find the best design for the project, with emphasis on sustainability and eco-friendliness. The winning entries, which will receive cash prizes between US$5,000 and US$20,000, will be announced on 1 September 2018.UNDP’s support to the housing project is part of a larger effort to help PPSEZ and other special economic zones in the country become sustainable in the long run. Currently, there are 33 SEZs all over Cambodia. These areas of development are crucial to Cambodia’s economic rise.“We are helping PPSEZ become a sustainable special economic zone, which will contribute to the achievement of Cambodia’s Sustainable Development Goals,” Mr Beresford stressed.He explained that this can be achieved by working together on promoting renewable energy use and sustainable waste management (recycling), among other initiatives.In addition to UNDP, the Cambodian Government is also helping the project by way of incentives. These incentives are believed to include tax sweeteners.Vongsey Vissoth, Secretary of State of the MEF, also disclosed that the Government is preparing regulations governing affordable housing projects. He said these regulations will be helpful and will set clear guidance on similar projects in the future.Construction work on the project is expected to commence sometime next year.“Currently, we have yet to select the best construction company. Since we are still discussing with the Government regarding incentives, and also, we have ongoing discussions with potential investors, we have yet to finalize the construction date,” Ms Zhao said.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?

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!

Buying a property is the first and perhaps the easiest step for property investors. After the purchase is completed, there are a number of follow-up tasks that requires the owner’s attention and time. Such tasks may include:·        Checking on the property condition·        Reporting defects·        Tracking the rectifications to be made·        Shopping for furniture to furnish the unit and preparing it for tenancy·        Securing potential tenants to achieve the desired rental yield·        Tenancy agreement and legal paperwork.·        Tracking rental payments etc.If the property is overseas, other costs such as flight tickets, temporary accommodation and sometimes language barrier with locals can be tedious and frustrating for property owners.But thanks to a revolutionary technology, the hassles associated with overseas property purchases will soon be a thing of the past.PropEase is a new property delivery solution platform, which allows property investors to not only manage all their properties online, but also to engage local partners on its platform to manage their properties professionally. The PropEase app can be downloaded from the App Store or Google Play store.With PropEase, property owners can now manage their properties anywhere in the world. Property owners can access essential information on their properties they have in real-time. Information such as property status, purchase price, completion date, unit size, unit defects check and rectification progress can be accessed in just a few seconds.For new properties that will be completed soon and handed over to property owners, PropEase simplifies the furnishing process by offering property investors curated, value-for-money furnishing packages which saves the property investors time and money to get the unit ready for tenancy.With PropEase, tenant management becomes much easier and convenient with its payment reminder and collection system.PropEase is also focused on safeguarding the data and privacy of its Users. PropEase features a secure payment system that incorporates a One-Time-Pin (OTP) technology and keeps user data confidential by way of encryption.“PropEase is the ideal property delivery and management solution for property investors. Our platform is digitizing the management of traditional services and connecting various stakeholders in the industry. PropEase provides property owners an experience that significantly reduces inefficiency, saves time and money, and increases investment returns.” said a PropEase spokesperson.PropEase is supporting the Cambodia Real Estate Awards (CREA) 2018 as one of its main sponsors. The company believes that recognising excellence in Cambodia’s real estate industry is very important as the property industry moves forward.The real estate sector, which is one of the anchors of Cambodia’s economy, is developing at an astonishing pace. Such development, which is clearly manifested by the building boom in Phnom Penh, Siem Reap, Sihanoukville, and other urban areas, is expected to continue in the future.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?

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!

Located in the up-and-coming district of Sen Sok is Borey Maha Sen Sok, which is being primed to become one of the city’s most sought-after property developments.The project, which is the biggest Japanese borey residential development in Cambodia, brings Japanese expertise specially-tailored to fit local culture and needs.Occupying 114,005 square meters, Borey Maha Sen Sok comprised of 683 units divided into two landed property types- ‘Satsuki’ and ‘Botan’.  The ‘Botan’ link house (measuring 4.1×14m, 4.2×14m) has 4 bedrooms and 5 bathrooms. The ‘Satsuki’ type (measuring 4.1×14m, 4.2×14m) comprised of 2 bedrooms and 3 bathrooms. Each unit is provided with its own parking space.The project is reasonably priced, while also bringing world-class living standards. Aside from the elegantly designed units, the project also features an exterior gym, kid's playground, gardens, Japanese foot massage path and wooden path, and cabanas.Its location means that Borey Maha Sen Sok is highly-accessible and close to international schools, banks, restaurants, cafes, markets, hotels, mini-marts, sports/recreation facilities, entertainment centers, and other amenities.Also close by are the Phnom Penh International Airport and two soon-to-open shopping destinations in the city- Phnom Penh Mega Mall (formerly Parkson) and Aeon Mall 2.Borey Maha Sen Sok is a project of Creed Group, a leading Japanese real estate investment firm. Founded in 1996, Creed Group is active in the Asian real estate market, with offices in Singapore, Malaysia, Vietnam, Bangladesh, and Cambodia.Creed is also the developer of two other iconic projects in the Kingdom- Bodaiju Residences and Arata Garden Residences.The project was started in 2016, and is expected to be completed by the end of this year.If you want quality promotional videos for you projects, please contact Realestate.com.kh at 017 436 756.