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?

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!

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!

Sihanoukville’s economy is expected to receive a boost from a massive residential and commercial development project that a well-known American developer will soon undertake.Marriott International, Inc. will build Gold Coast at Sihanoukville, a USD 200 million integrated development project on 1.67ha of land facing the Gulf of Thailand. The project, which consists of 888 residential units, will start early next year and targeted to be completed by 2022.Up and center of Gold Coast at Sihanoukville is Le Meredien, a 5-Star, 388-room luxury abode, which is Marriott’s second hotel in Cambodia. The first one, Courtyard by Marriott Siem Reap, opened in Siem Reap two months ago.  Grand Lion Group, a local real estate company, will manage the new hotel.Ross Wheble, Country Head of Knight Frank Cambodia, said he expects a substantial economic boost from the project. Knight Frank Cambodia is a leading real estate consultancy firm in the Kingdom.“The contributions to the Sihanoukville economy will be far reaching.  In addition to the increasing demand for construction workers, which has positive knock-on effects for local business operators as more internationally branded hotels open in Sihanoukville, there will be increased regional and global awareness of Sihanoukville as a tourism destination,” he said.According to Mr Wheble, the project will be beneficial to many.  “This rise in tourism will generate increasing revenue streams which will benefit both the local population as well as the provincial government, allowing money to be reinvested in much needed infrastructure and beautification projects in Kampong Som,” he stressed.Sihanoukville, which abounds in pristine beaches and eco-tourism sites like the Ream National Park, is Cambodia’s second most popular tourist destination. During the first nine months of 2017, 1.5 million tourists visited Sihanoukville. The New York Times ranked Sihanoukville as one of the top global holiday destinations (13th out of 52) in 2018.To maintain their growth and further attract similar projects, Mr Wheble said Sihanoukville and other parts of Cambodia should focus on infrastructure development.  “As mentioned above, infrastructure is a key area that needs to be addressed throughout Cambodia, providing better connectivity between the major tourism hubs in the Kingdom,” he said.“This interlinked with master planning at a provincial level which clearly sets out land use zoning and planning policy, providing more transparency in the market whilst also protecting the environment and ensuring sustainable development for the future growth of Cambodia,” Mr Wheble added.  For the past 10 years, the Cambodian economy has grown by an average of 7 percent, with growth centered in Phnom Penh, Siem Reap, Sihanoukville, and other urban areas. Sihanoukville’s economic growth is even higher than the national average, reaching 8 percent in the  is evenCambodia’s progress has largely been attributed to massive foreign investment and tourism growth.Looking for real estate for rent in Sihanoukville  or real estate for sale in Sihanoukville? or Read The Ultimate Guide To Sihanoukville by Realestate.com.kh

Cambodia is in the middle of a building boom, thanks to massive investments from China and the continuous growth of the country’s economy, which has grown by an average of 7 percent over the last several years - Read more about Condo market saturation and a national election: The Perfect Storm 2018 on Realestate.com.khWhile political developments have little impact on the growth of the industry in the past, there are concerns that it will not be the case this time. The dissolution of the main opposition party and calls for boycott ahead of the July 2018 national election have many worried about future political stability. For some industry experts and leaders the coming election is a cause for concern. Others disagree.Oknha Sear Rithy, Chariman of WordlBridge Group, said there is a tendency for many Cambodians to hesitate buying property come election time, partly because of their bad 2008 experience. Soon after the 2008 national election the local real estate and construction sectors crashed, partly as a result of a global financial crisis.“However, I believe the upcoming election will not affect the real estate market.  But people will still wait to see what happens with the market. I believe that after the election they will be optimistic in purchasing property again,” he added.Nov Linna, Assistant at NC Max World, echoed the same sentiments. According to her, people should worry more about things like the world economy, citing the risk of another economic depression just like what happened in 2009.Ms Nov said many of her clients think elections are a normal thing.  “My clients do not mind and are not influenced by what will happen during an election year,” she said.Oknha Cheng Kheng, Chairman of Cambodia Properties Limited (CPL), said investors will not likely be affected by the election. I believe that proper guidance from experts will ensure that investors will not be affected - whether there is an election or not,” he stressed.Kim Heang, President of Cambodian Valuers and Estate Agents Association (CVEA), disagrees. “I think there will be lesser number of real estate transactions this year compared to the previous years,” he said.Mr Kim said growth will likely return after the election. “By 2020 I believe the real estate market will grow again,” he stressed.Foreign players in the local industry are also convinced that the election will have a minimal impact.Lili Ding, Marketing Director of Parkway Investment, said she sees no long term impact. “Any election will bring uncertainty. Many investors and developers often develop a “wait and see” attitude,” she pointed out.Ms Lili said in the long run the industry and the overall economy will continue to grow. “No matter how the government’s internal structure changes, development will always be the priority of the government,” she stressed.Xiaohua Chen, Legal Counsel at ETC Law Group, said she sees continuous growth at the same time new regulations governing the industry. “The real estate sector will continue to grow despite concerns about political stability,” she stressed.“I believe concerned government agencies will examine and approve projects in a more systematic way,” added Xiaohua, referring to the Ministry of Economy and Finance (MEF) and the Ministry of Land Management, Urban Planning and Construction (MLMUPC).Check out the latest property for sale in Cambodia or property for rent in Cambodia or read the The Ultimate Guide to Cambodia by Realestate.com.kh

As major real estate developments flocking into central Phnom Penh drive up the value of real property, many developers have shifted their attention to new areas with cheaper land. These areas include Dangkao district, which has recently generated interests from local and foreign property developers.Located in the southern part of Phnom Penh, Dangkao is the capital city’s largest suburbs occupying 197.89 square kilometers. Dangkao district is divided into 13 sangkats (communes), namely: Dangkao, Pong Tuek, Prey Veaeng, Prey Sar, Krang Pongro, Prateah Lang, Sak Sampov, Cheung Aek, Kong Noy, Preaek Kampues, Roluos, Spean Thma, and Tien.Kim Heang, President of the Cambodian Valuers and Estate Agents Association (CVEA), said, “The potential of Dangkao is similar to Por Sen Chey due to low land price, affordable homes and abundance of factories that have encouraged more people to move into the area.”The population of Dangkao increased from 92,461 in 1998 to more than 200,000 today. He said that compared to other up-and-coming areas like Chbar Ampov or Chroy Changvar, Dangkao has cheaper land, which is attractive to people in the low-middle and middle-income brackets.  “Dangkao is very ideal for residential and industrial development like building houses or factories,” Mr Kim stressed.Mam Sereypanha, CEO at Easy Property Investment, said development in an urban area usually moves towards the suburbs after some time.  “Dangkao is still behind Sen Sok in terms of amenities and infrastructure. But it is located very close to the city and has already become a target area for borey and plot land projects,” he said. Dangkao is a mere 10 kilometers away from the city center.According to the 2017 Housing Market and Outlook Report  by Vtrust Appraisal, Dangkao is number three housing supplier in 2017 after Por Sen Chey and Sen Sok.  The area has 26 major developments and 37 smaller-scale projects underway. Once completed, these projects will result in a combined 17,000 available units.Hay Ravy, Marketing and Sales manager of Daily Realty Group, said the presence of cheap, readily-available land in Dangkao offers many opportunities. Mr Hay identified Prey Sar, Cheung Aek and Sangkat Dangkao as key areas for development in the district. “These areas have existing infrastructure and are the most promising in terms of property and economic development,” he said.Mr Hay  noted the increase of real property value in the area over the years. “Before, land along the main road fetches below $100 per square meter. But now, the same can be bought at $150 to $250 per square meter,” he said.According to him, land in the village areas and along less important roads are priced between $40 to $100 per square meter, dependent on its location and potential.  “But for agricultural lands, the price is only $5 to $10 per square meter,” he stressed.Dangkao is home to many garment factories and several borey development projects, including: Borey Chip Mong, Borey Piphup Thmey, Borey Chamkar Dong, Borey Lim Chheang Hor, Borey Phnom Meas, and Borey Lim Chheang Hak.Dangkao is also host to many ongoing plot land projects that are targeted at local buyers. Seng Oudom, Sales Executive at Phnom Penh Home Land (PPHL), Dangkao has a greater potential compared to other suburb locations because of its inclusion in the government’s latest development plan, among other factors.“The area is close to the city center, well-elevated, and is served by an excellent road system that includes the Hun Sen Boulevard,” he pointed out.PPHL recently completed a plot land project in another part of Dangkao, Sangkat Spean Thmor. The project comes in two parts, occupying 15 and 8 hectares, respectively.Mr Seng said buying a general land or plot land in Dangkao is a good investment, with an investment return of 40 percent to 60 percent after one year.“For those who invest in general land or any plot land projects, which are well constructed according to a standard master plan, same as what PPHL doing- with adequate sewage system, quality roads, lights, and water system- their land will increase in value between 40 percent to 60 percent after one year,” he stressed. Mr Seng said a subdivision plot land fetches between $15,000 to $100,000. Mr Seng said PPHL will invest in another location in Dangkao because they believe in the area’s potential.While everyone agrees on Dangkao’s potential, some people think there is more to it. “The future development of the Dangkao area is unpredictable. No one knows what will happen if such a huge project as Aeon Mall 2 will officially open in nearby Sen Sok,” Mr Mam said. AEON Mall 2, which is slated to become Cambodia’s largest shopping and recreation center, will open sometime this year.Looking for real estate for sale in Dangkao  or real estate for rent in Dangkao? or Read the The Ultimate Guide To Phnom Penh by Realestate.com.kh

The Kingdom of Cambodia is considered as one of the fastest-growing economies in the ASEAN region. According to the World Bank, Cambodia’s economy grew annually by 7 percent both in 2015 and 2016, and is forecasted to grow 6.9 percent year-on-year over the next three years.The Sihanoukville Autonomous Port is Cambodia’s only deep sea port and is the most important trade gateway driving the country’s economic growth. The port is strategically located in an ideal location in Cambodia’s  coastal southwest and is safe from typhoons, tsunamis, and other natural  disasters.Occupying about 125 hectares, Sihanoukville port was constructed in 1956 and started operations  in 1960. Currently,  the port has 8 terminal berths with a total length of 1,330 meters and is equipped with modern cargo-handling equipment.Over the last five years, the amount of container throughput  increased by an average of 11% per year. In 2015, the port generated a total revenue of $49 million, nearly an 18% increase from  the $9 million generated in 2014.The Royal Government of Cambodia has recently designated the port as an  industrial development zone.  This port has seen great potential in expanding the trade between Cambodia and other countries in the ASEAN, Asia-Pacific rim and the rest of the world.Sihanoukville port has entered into an IPO to further improve its business prospects. The IPO netted nearly $27 million for the purchase of land and equipment for expansion.Looking for real estate for rent in Sihanoukville  or real estate for sale in Sihanoukville? or Read the The Ultimate Guide To Sihanoukville by Realestate.com.kh

Time and again, the issue of foreigners obtaining Cambodian citizenship has cropped up.While not coveted as the citizenships of countries like the United States, Australia, and Canada, Cambodian citizenship is, nonetheless, pursued by some foreigners. For foreigners, the most cited reasons are ability to acquire land and other property in their own name and ability to travel to other ASEAN countries visa-free - Read more How to invest in Land in Cambodia for foreigners on Realestate.com.kh!Cambodian citizenship has also been bestowed to foreigners with exemplary contributions to the Kingdom.Chinese and South Korean investors are said to be the most common recipients of Cambodian passports. There was a spike in Cambodian passport applications starting in 1993 after the country was admitted to the ASEAN.Prominent people who have obtained Cambodian citizenship include American actress Angelina Jolie (for her conservation work), Japanese Olympian Kuniaki Takizaki, and Australian humanitarian Geraldine Cox for her work in an orphanage in the country’s southeast.There are five ways for a foreigner to obtain Cambodian citizenship. We explain in this article each and every route to obtaining a Cambodian passport:Naturalization- This is the most common and takes the longest time to complete. Seven-year residency, fluency in the Khmer language (speaking and writing), and a clean criminal record are the requirements for obtaining Cambodian citizenship by way of naturalization.Citizenship by marriage- A foreign man or woman married to a Cambodia national can obtain Cambodian citizenship after living together for at least three years after their marriage was registered with the proper authorities.Citizenship by Investment Program - This cash-for-passport program bestows Cambodian citizenship to a foreigner who invests 1.25 billion riels ($312,500) in Cambodia. In this case, the 7-year residency is waived. However, other requirements for naturalization like language fluency still apply.The cost of obtaining citizenship by investment is said to be in the region of $75,000.A local agent revealed that many Japanese, Chinese, Korean, Australian and Vietnamese business people obtained Cambodian citizenship by way of investments.Citizenship by donation- A foreigner could also be accorded Cambodian citizenship if he donates 1 billion riels ($250,000) or more to the national budget.Special achievements in Cambodia’s interest also give foreigners the right to apply for honorary citizenship.Citizenship by birth and descent - Those born to at least one Cambodian parent anywhere in the world are legally entitled to Cambodian citizenship. The same applies to children born in Cambodia to foreign parents who were born and legally living in the Kingdom.While having a Cambodian passport will not bring you far vis-a-vis visa-free travel, Cambodian citizenship does offer some advantages. Obtaining Cambodian citizenship is very advantageous in terms of living, working and investing in the Kingdom.Firstly, you will no longer need a visa to enter and work in the country for as long as you want.Secondly, you can own land and other property in your name.  Currently, foreigners are restricted to owning the first floor and up, up to 70 percent of one building with a strata title.Thirdly, you can apply for concessions and licenses from the government that are otherwise only available to Cambodian nationals.The process of applying for and obtaining Cambodian citizenship:The Ministry of the Interior processes applications for Cambodian citizenship. The process usually takes two to three months. There are several steps that a foreigner who wants to obtain Cambodian citizenship needs to complete:1)   Go to the Ministry of the Interior to find out what is need to obtain Cambodian citizenship. Inquiries can also be made at Cambodian embassies and consulates worldwide.2)   Gather the needed documents and submit the application to the Department of Citizenship under the Ministry of the Interior. Documentary requirements include: Proof of birth (birth certificate, hospital birth record, baptismal certificate, etc.); recent passport photographs; police clearance certificate; identification documents (driver’s license, passport) medical clearance certificate; and proof of residential address (utility bills, rental/lease agreement).3)   Application will undergo verification. Interviews and investigations are carried out as part of the verification process.4)   After verification is completed, a decision to reject or approve the application is made.5)   The applicant is notified about the decision in writing. If application is approved, it is published to allow anyone with an objection to come forward.6)   When the publication period elapses and no objections were raised, the applicant is required to take an oath court.7)   After taking the oath, applicant signs it and is pronounced as a Cambodian citizen.Looking for real estate for rent in Cambodia or real estate for sale in Cambodia? or Read investment opportunities by Realestate.com.kh

Phnom Penh is developing at a rapid pace, and with this development comes an influx of investors, mostly foreign, seeking to build and expand their businesses in this capital city of this Kingdom.As building an office from scratch is mostly out of the question, especially for foreigners, because of the high expenses involved and limitations set by local laws and regulations, the foremost concern now for these people is to find the best space they can rent at the most reasonable price.If you go around the city, you can see a lot of signs advertising buildings and other properties for rent. While some of them can be rented at a low price, especially if the building is located far from where the main commercial activities are being held, most of them are expensive, especially if rented for commercial purposes.To date, there is a glut of office space in Phnom Penh. Massive investments in the infrastructure and property sectors have pushed the number of office spaces in the capital city. The most conservative forecast put the increase at 77% by 2020.While Phnom Penh is not as expensive as other metropolitan areas in the world like Tokyo and Singapore when it comes to office rentals, the high rental rates offered by many establishments would make it hard to attract many would-be investors, especially the not-so-moneyed small and medium enterprises like a minor consultancy firm, media company, mini-mart, drug store, and the like.Such unfortunate scenario would not be good not only for the local economy, but also the economy of the entire country, which by and large is dependent on the outflow of capital and investments from the outside.But a careful study made for a startling and very significant finding that shows some of those firms offering office space for rent actually offer much reasonable rates compared to their peers and competitors in the Office rental business.Take the case of TSE. Focused on small and medium enterprises, TSE provides full office services to all of their tenants with emphasis on client satisfaction.A comparison of rental rates shows that while TSE charges more for rental for a typical office and flat compared to its competitors, its rates are actual lower when you factor in everything.A TSE renter for an office space for an average of 10 persons will have to pay a total of $8,400 in one year, inclusive of monthly rental, cleaning, security, pantry, and meeting room. Monthly rental for a TSE office is $700. For other rental companies, rental of the same office space would entail charges reaching $10,800 ($900 monthly rental) in one year. This is because the $500 monthly rental is compounded by $150 in cleaning/security fees and $250 in pantry/meeting room fees, which increases the monthly rental to $900.For a flat, the total rate for one year reaches to $9,400 due to the fact that the $300 monthly rental increases to $1,700 in the first month due to the addition of $200 fee for cleaning, $200 charge for security, and $1,000 for pantry/meeting room. A $700 monthly rental is charged in the second to the 12th month of the rental contract. For more detailed comparison, please refer to the graph and table at the bottom.While one may have doubts whether TSE offers the best services considering that it offers the cheapest rates in the long run, we have some testimonials here that can attest to the company’s topnotch service to its clients and customers through the years.“It’s a pleasure to work here. I am satisfied with the office environment. It is a modern, comfortable, and clean office that makes hard work for me and other staff easier,” said TOS TOV marketing staff Hong Sokunraksmey.For Okoone CEO Julien Meunier, the experience with TSE has been remarkable.“The Office #106 has proved to be a valuable asset to our company over the last year, providing a convenient and comfortable working environment for our employees and reinforcing our corporate image of an innovative digital agency,” he said.“With continuously expanding operations, we are often in search of clean, modern and well-designed office spaces with staff amenities and proper building management, and enough flexibility to accommodate anticipated growth: The Office has proved to meet all these criteria. I would definitely recommend The Office to any company looking for high-quality and well-managed office facilities in Phnom Penh,” Mr. Meunier added.Other companies that have rented office space from TSE include the job search website PHNOMLIST, One Degree, Prasat Study Abroad Consultancy (PSAC), and The Furniture Express (TFE).Obviously, as the findings above show, TSE offers the best rates for office rental around town. No doubt about it.Comparison of TSE rental rates with that of its competitors Please check the office for rent in Cambodia on Realestate.com.kh!

The Seagate Suite project is the foremost mixed-use development on the coast of Sihanoukville, Cambodia; and will soon be the tallest building in the province. The development is located in Phum Bei Village, Sankat Bei; adjacent to Victory Beach and what shall likely become the future CBD area of Sihanoukville city. The project offers residents a 360-degree view of both the ocean and fast growing city.On the 17th of December 2017, The Seagate Suite officially commenced sales at its official opening ceremony. The launch informed the market and general public as to how The Seagate Suite is operating in Cambodia and how the developer will play an influential role in the real estate sector both now and into the future.H.E. Sar Kheng, the Minister of Ministry of Interior, congratulated and welcomed to Cambodia the Hefei Friendship Association. The Hefei Friendship Association initiated the cooperation between public and private partners in order to launch The Seagate Suite project. His Excellency added that this new project will offer another option for Cambodian and non-Cambodian Nationals who want to live in the Kingdom.H.E. Sar has also encouraged the local authorities to focus closely on their roles to ensure convenience for all investors, local and international, who want to process documents related to purchasing and securing condo units in Sihanoukville province.   Lok Oknha Ouk Socheth, Chairman of the Cambodia Hefei Friendship Association and representative owner of The Seagate Suite development, said that: “The vision of the Cambodian economy, along with the Cambodia-China relationship through strategic investment policies, is showing notable growth. The residential development of The Seagate Suite reflects this positive trend of development through cooperation.”  Developed by KHCN Investment & Development Co,. Ltd, The Seagate Suite will be an iconic building in Sihanoukville for years to come. The Seagate Suite condominium is designed to bring an international standard of living to life for all residents; through both its inside and outside facilities and amenities. The project will be 45 stories tall and cover a total area of 1,118 square meters. Studio rooms will range from 31.21 square meters to 70.12 square meters. 1-bedroom units span anywhere from 60.15 square meters to 88.62 square meters. Meanwhile, 2-bedroom units measure 113 square meters.  Buyers will have multiple options when it comes to unit designs, as they are able to choose between 6 different and distinct unit styles. These include Northern European, Minimalist, Southeastern, Luxurious Baroque, New Oriental, and Neoclassic. The Northern European, however, has a free design and comes fully-furnished.In addition, each unit comes with a Smart Home System that operates via application. Each unit is a smart home, with app controlled air-conditioning, sockets, TV, music, security cameras, keys, water heating system and lighting system.In term of safety and security, The building also has built-in security features such as smoke detectors, sprinklers, fire extinguishers, hose reels, and an emergency sound alarm. Management will even include 24/7 security.Lok Okhna Ouk said that the project aims to bring a unique value for residents, including a 700 square-meter infinity pool, private meeting hall, shopping center, market, fully-equipped gym, steam room, spa and sauna, restaurants, business center, multi-functional conference room, rooftop tarmac, banquet hall, luxury casino, cinema, ktv, bar, art gallery and even a helipad on the roof.The Seagate Suite is now officially open for sales, at a starting price of just $70,000 per unit. This new development guarantees rental returns up to 16 percent over two years (or 8 percent per year). As an added bonus, buyers won’t need to spend any additional money on furniture when they move - as a full set of furniture is included, custom designed to suit the space, style and design of the building. Another useful perk is that if the buyer wishes to resell the unit, the developer also guarantees to absorb the 10 percent sales tax.Check out the new development or The Seagate Suite  listing today on Realestate.com.kh!Find out property for rent in Phnom Penh or property for sale in Phnom Penh!

When you are a landlord who wants to rent out a property fast to the best tenants, you need to be aggressive and do things that will defeat the competition.The best tenants are those who pay their rents on time, keep the property in good condition and want to stay for medium to long-term.In Part 1 of this two-part series we will discuss a few important tips you need to consider and do when you want attract the best tenants for your property rental, thanks to Realestate.com.khLocation of the property is importantIf your property is located in areas in the Phnom Penh suburbs like Steung Meanchey, Chom Chao, or Chbar Ampov, most likely you can only rent your place to locals, particularly students and employees.If you want to buy property for rent and have expats rent it, you should consider the following areas: Chamkarmon--BKK1, BKK2, BKK3, Toul Tum Poung, Tonle Bassac, Toul Kork and Sen Sok or Chroy ChangvarAdd extra value to your propertyThe better the property, the more it will attract tenants. In Phnom Penh, the competition is strong because there are many apartments and condos for rent. So if you have the better property, then you will thrive well among the competition.It is proven that most of the renters want to get extra facilities and amenities. A property with decorations and furnishings will be more attractive to prospective renters. With regards to decoration, if the tenants want their own style you change it for them.With regards to decoration, if your tenants prefer to have their own decoration style, get it change for them.You can also offer extra incentives such as putting in cable TV, Internet, and means of transportation such as a bicycle or motorbike.Make sure you market your property wellGood advertising often brings in the best. You can market and advertise your property for rent by word of mouth, through the media (newspapers, magazines, and other news portals) or by way of social media (Facebook, Linkedin, Twitter, Instagram, etc.)If you want others to do it for you, you can also hire a real estate agent to market your property. You can also seek the advice of a reputable advertising firm.The advertisement should be attractive as possible (with glossy pictures) and clear description- rent, rooms, location, price, responsibilities, condition of property, facilities, surrounding amenities  and other features including parking, garage, garden, etc. Relevant contact details (email, phone number) should also be included.Stay tuned for Part 2 of this series where we will discuss more tips to win over the competition, importance of contract, and how to keep your tenants happy.Look for real estate for rent in Phnom Penh? Or want to read about critical tips for prospective lessors? Check out Realestate.com.kh.

2018 is already off to a roaring start in terms of the Kingdom’s foreign investment. Chinese Premier Li Keqiang's visit last week resulted in the signing of 19 fresh Memorandums of Understanding, with the majority focus of these agreements relating to key infrastructure initiatives that will have vast economic benefits for many of Cambodia's key industries and sectors.However, before delving into what the bulk of 2018 may have in store for Cambodia’s economy and real estate sector, it is paramount to take into account many of the definitive events and market shifts that 2017 bore witness to. These are namely, the slowing of the condominium market in favor of boreys and more affordable homes, proposed tightening of legal regulations and the influx and impact of Chinese tourism.All of these factors, as suggested by various industry experts and reports, can give insight into what to expect in terms of the real estate market in 2018.According to the annual 2017 report released by the Ministry of Land Management, Urban Planning and Construction (MLMUPC), the combined value of approved construction projects reached $6.42 billion in 2017, an increase of 22.31 percent from 2016.There was a major market shift as to the type of property projects constructed, however, with growth in affordable housing and borey projects as a result of consumer demand.The Housing Market and Outlook Report 2017 released by VTrust Appraisal in December showed the nationwide supply of landed housing units (boreys) increased by 11 percent in 2017, with 13,900 borey units launched- as opposed to 12,500 units in 2016.Mr. Hoem Seiha, Director of Research at VTrust Appraisal and author of the report, said: “2017 was the biggest year for the completion of cluster landed housing units (units within boreys) of  this decade."Two of the report’s overall conclusions were namely that; the increase of borey launches aligns with the market demand for this property type- which was different to initial 2017 predictions, and successful borey launches in 2017 performed well- especially if they constituted as low-price housing projects.Mr. Kim Heang  President of the Cambodian Valuers and Estate Agents Association (CVEA) defined this 'low-price bracket' as being within the $30,000-$40,000 price range.Preliminary signs in 2018 show the introduction of new borey projects will continue, with over 8,000 borey units already announced and slated to commence construction in early 2018.  However, launches of condominium units fell from 18,500 units in 2016 to 10,000 units in 2017, representing a 45 percent annual decrease in 2017 according to the VTrust report.This decrease of condominium launches demonstrates that the speculation regarding oversupply has come to developers attention and led to the diversification of projects to align with shifting demand.Commenting on this further, Mr. Hoem added: "In 2018 developers will need to continue to expand their home offers to compete in the market and offer even more flexible payment options for buyers to boost sales.”However, Mr. Kim was optimistic about the real estate market going forward: "In 2018, one should buy property because there will be a lot of sellers of property in Phnom Penh and thus buyers can buy property for a good price."Another major change in 2017, which is anticipated to develop further in 2018 is in relation to new regulations proposed by the Ministry of Economy and Finance in late October to restrict the number of licenses that are issued for construction investment projects and real estate properties in the Kingdom.The drafted new law aims to protect financiers of projects from being defrauded by investors and ensure that projects that are granted licenses are completed on time. Recently, the Ministry of Economy and Finance has said to crack down on construction licenses.Mr. Kim said when the law was announced that: “The new law is very good for Cambodian society, as it ensures that only those with real capital can invest in real property projects,“Moreover, the law will help reduce the amount of non-physical projects being sold because there used to be companies using their land as collateral at the bank and then announcing their projects for sale, and projects like these are very risky.”Key agencies and associations such as CVEA and Cambodia Constructors Association voiced their support on this policy proposal and with initial Government estimates that this law would take be enforced in late 2017, it is likely that critical updates about this initiative’s implementation will follow suit in the coming months.Finally, Chinese tourism played a major role in the kingdom's economic development and this is anticipated to continue to develop over 2018 and the years to come.The second National Forum on "China Ready for Cambodia Tourism” was held in October 2017, to discuss the white paper policy, in which Cambodia's Tourism Minister,  Mr. Thong Khon addressed Cambodia’s plan to attract two million Chinese tourists to the kingdom by 2020.Progress can already be seen as Cambodia welcomed over one million Chinese tourists to the kingdom in 2017- the largest influx recorded, according to Mr. Thong and brought over 700 million USD into Cambodia’s economy.With the policy focusing on introducing more Chinese friendly tourism facilities, such as Chinese speaking tour guides, hotels, and facilities, it is likely that this growth will remain strong throughout 2018.Ultimately, although the transition into 2018 has been smooth for the real estate market and economy alike, when looking at what should be expected for the remainder of the year, key market shifts, legislative changes and economic growth trends that took place in 2017 should not yet be left in the dust, but rather be used to provide guidance as to what should be expected throughout this coming year.Looking for Real estate for rent in Phnom Penh?  Check out other great resources on Realestate.com.kh now! Go to our Location Profiles and Investor Guides pages for more information!

Phnom Penh - Mekong based private equity firm Belt Road Capital Management (BRCM) has made its first ever investment of AUD $2.25 million (USD $1.8 million) into Digital Classifieds Group (DCG), the online classifieds group behind Cambodia’s leading real estate website Realestate.com.kh.The recent investment from BRCM marks one of the largest tech investments in Cambodia history, with much of the funds earmarked for rapid growth in Cambodia and related Southeast Asian markets.“The company has made major investments in its technology and core human resources, which have increased the interest of investors in recent funding rounds. When we first commenced the business we undervalued the importance of our platform and bootstrapped every part of the business,” said Mathew Care, CEO of DCG. “With the benefit of hindsight, we have spent over 18 months developing a world class platform, based on proven Australian real estate portal technology, which is now delivering outstanding results.”Care added: “We are presently reviewing a range of expansion opportunities, particularly in Cambodia, where we have seen a tremendous surge in internet penetration and rapid urbanisation. We believe that our experience, platforms and committed expatriate and local teams are capable of tackling almost any new opportunities - and this additional capital gives DCG and Realestate.com.kh the ability to take on a much larger share of the Cambodian and Southeast Asian online marketplace.”“Having seen the swift growth of Realestate.com.kh, and a high level of professionalism across DCG’s local and international operations, I was more than confident to introduce the opportunity to the equity partners of BRCM. I believe this company has a strong future in both the Cambodian market and internationally, and I’m excited that BRCM will now be a part of this journey,” said Alex Odom, Chief Investment Officer of BRCM. “We’ve previously worked with Alex Odom, the Chief Investment Officer at BRCM, and have always respected his expertise. Whilst we weren’t actively seeking funding at the time, we believe Alex and his team will bring a level of experience market knowledge to DCG that is invaluable,” said Tom O’Sullivan, CEO of Realestate.com.kh.O’Sullivan added the additional funding will fuel growth in DCG’s existing market, including swift expansion into additional business verticals within Cambodia. The funding is also highly strategic given BRCM’s unique focus on countries exposed to China’s ‘One Belt, One Road’ policy, particularly Mekong based countries such as Cambodia, Laos, Vietnam, Myanmar and Thailand.“DCG is prioritising Cambodia and greater Southeast Asia for investment and expansion,” noted O’Sullivan. “Given BRCM’s deep experience in Cambodia and related ‘Belt Road’ markets such as Myanmar and Laos, we are excited about the benefits that their knowledge and connections will bring.”About 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 produce 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 $30m in direct sales in 2017 alone.For more information please visit official site: http://realestate.com.khAbout Belt Road Capital Management (BRCM):Belt Road Capital Management is a private equity investment manager based in Phnom Penh, Cambodia which focuses on the Greater Mekong Sub-Region consisting of Cambodia, Myanmar, Lao PDR, Thailand and Vietnam. The company partners with promising small and medium sized enterprises (SMEs) to support the achievement of strategic goals, facilitate sustainable growth and expand access to new markets.BRCM has launched its initial round of fundraising with value up to USD $50 million and has began deployment and plans to launch subsequent investment funds in the near future.Fore more information please visit BCRM official site: http://www.beltroadcap.com About Digital Classified Group (DCG): DCG has grown rapidly since its 2014 launch to create the dominant real estate portals in Cambodia (www.realestate.com.kh), Papua New Guinea (www.hausples.com.pg), and Fiji (www.property.com.fj). The group also owns the leading general classifieds websites in Laos (www.yula.la), Papua New Guinea (www.marketmeri.com), and Fiji (www.market.com.fj). DCG has taken leading positions in all of these markets through innovations such as sophisticated search technology, a localised approach to each market (languages spanning English, Khmer, French and Chinese), CRM and website solutions for real estate agents, and high-value real estate sales events.DCG believes having the right people is the single most critical factor for success in emerging markets. The business has created an environment in which any member of the team has a clear pathway toward equity participation via an employee share option plan. At board and shareholder level DCG has a huge depth of online classifieds experience, including director Tim White who spearheaded the successful expansion of Allhomes.com.au from humble beginnings to its AUD $50 million acquisition by Fairfax Media. For more information please visit DCG official site: http://digitalclassifiedsgroup.comMedia contact:1. Mathew Care, CEO of Digital Classifieds Group, mathew.care@hausples.com.pg | +61 409 598 2272. Sokunthea Hang, Investment Analyst of Belt Road Capital Management, sokunthea@beltroadcap.com  +855 12 223 458Find out the best real estate news on Realestate.com.kh