Realestate.com.kh is excited to announce the upcoming launch of Time Square 8, a new condominium project located in the vibrant Street 410 area of Toul Tumpoung, Phnom Penh. Developed by Megakim World Corp., the trusted developer behind seven successful projects, Time Square 8 promises to deliver a vibrant and living experience to one of the city’s most dynamic neighborhoods.Time Square 8 will feature cutting-edge design, premium amenities, and a prime location that offers easy access to key landmarks such as the Independence Monument, Riverside, and the Royal Palace. Residents will also be conveniently close to AEON Mall, and surrounded by popular restaurants, coffee shops, and commercial hubs. This makes Time Square 8 ideal for both homebuyers and investors seeking convenience, value, and a promising return on investment.The developer, Megakim World Corp., has established a strong reputation in Cambodia’s real estate market, known for delivering properties that offer high ROI and value appreciation. Their past success, including the highly regarded Time Square 7, has earned them the trust of both homeowners and investors alike. With Time Square 8, you can expect the same level of quality and commitment that has defined their previous developments.Act Fast! The best units are expected to sell out within weeks, so don’t wait. If you’re looking to invest or secure your new home, contact us today to book your spot or get more information. Don’t miss out on this incredible opportunity!Stay tuned for more details coming soon from Realestate.com.kh!--------------------Learn more about the project and contact us now!Phone: +855 92 92 1000Email: info@realestate.com.khFor agents and agencies wanting more informationWebsite: Realestate.com.khPhone: +855 78 65 32 26Email: phany.chuon@realestate.com.kh

On Thursday morning of September 26th, we at Realestate.com.kh were honored to celebrate the official ground-breaking ceremony for Time Square 7, located in the thriving Toul Kork district. Our heartfelt congratulations go to the entire development team behind Time Square 7 for reaching this important milestone, marking the beginning of what promises to be a remarkable addition to Phnom Penh’s residential landscape.The ceremony was a special event, attended by key stakeholders, developers, and community leaders. The groundbreaking not only symbolized the start of construction but also reflected the excitement surrounding this ambitious project.Time Square 7 will bring easy living to Toul Kork, offering thoughtfully designed residential units with spacious layouts, amenities, and stunning city views. With its strategic location, residents will enjoy easy access to schools, shopping centers, and essential services, making it an ideal choice for families and professionals alike.The developer behind Time Square has built a solid reputation with a track record of delivering 7 successful projects, making them a trusted name in Cambodia’s real estate market. Their commitment to quality and innovation is evident in every development, and with Time Square 7 finishing soon, they continue to set the standard for excellence! At Realestate.com.kh, we are proud to support projects like Time Square 7 that elevate urban living standards and provide valuable opportunities for both residents and investors. We look forward to seeing the project take shape and contribute to the vibrant growth of Toul Kork.Congratulations again to the Time Square 7 team on this exciting journey ahead! We are eager to see the vision come to life!

Pablo Picasso, one of the most influential artists of the 20th century, left an incredible mark on the world of art. His bold use of form, color, and abstraction revolutionized the way we think about creativity, his legacy continues to resonate across various cultural domains, influencing contemporary fashion shaping visual arts and inspiring architectural design.The inspiration behind Picasso Sky Gemme Architecture and DesignDeveloped by Titan Stone Group, Picasso Sky Gemme exemplifies how Pablo Picasso’s influence on architecture, though less direct than in visual arts, has impacted modern design. This influence is particularly evident in the property, which embodies the spirit of Picasso's artistic innovations. The 52-story tower blends modern architecture with artistic inspiration, reflecting the various phases of Picasso’s work. The building's design features a series of geometric shapes and fragmented forms, much like how Pablo Picasso, a pioneer of Cubism through art, breaks down and reassembles objects into abstract forms. Picasso Sky Gemme FacadeArt-inspired Residence The developer, Titan Stone Group - holds exclusive rights from the Picasso Family, allowing it to incorporate the artist's themes into the property. Each unit within the building is uniquely designed, echoing the different periods of Picasso’s art—from his Blue Period to his Cubist explorations. Bedroom Units: Picasso’s Blue to Rose Period61 - 76 square metersInspired by Picasso’s Blue and Rose Periods, these units blend the deep, reflective tones of blue with the soft, of rose. 2 Bedroom Units: Picasso’s Surrealism93 - 118 square metersDrawing from Picasso’s Surrealist phase, these units incorporate bold shapes and abstract curves. 3 Bedroom Units: Picasso’s Cubism Period170 - 203 square metersThese units reflect the geometric forms and fragmented perspectives of Picasso’s Cubist Period. Set To Become A Living Testament to Pablo PicassoDue for completion in 2028, Picasso Sky Gemme is set to become a living testament to how Picasso’s creativity transcends not just canvas, but also modern urban living spaces. This project merges art and real estate in a way that redefines luxury living, proving that Picasso’s genius can influence even the most unexpected industries.Learn more about Picasso Sky Gemme

Following on from last week’s look at heritage building preservation with a specific focus on the hotels in the Cambodian capital, we explore the broader evolution of the city’s transformation and evolution through the eyes of architects.Examples of iconic heritage buildings in the capital include Phsar Thmei (Central Market) completed in 1937 and designed by Jean Desbois and supervised by French architect Louis Chauchon, the Central Post Office built by French town planner and architect Daniel Fabre around 1895 and two well-known tourist stops.On the flipside, the Phnom Penh Railway station has undergone recent renovations and the jury is out on whether its art deco style has been properly preserved, while the Foreign Correspondents Club (FCC) has a rich history but has been in a state of construction limbo since the pandemic and now is a sad eyesore on the riverside. Even the Chinese House was a popular restaurant until 2019 and is more than a century old (actually 120 years old this year).The colonial-era heritage buildings in Cambodia were constructed in a combination of French and Khmer styles. A 2016 study by a group of French experts in Phnom Penh evaluated there were 523 French colonial structures, including 448 residential buildings - it's not clear how many remain in 2024. Kampot and Battambang had similar and even more numbers respectively at the time of the study.The Vann Molyvann Project which ran until 2020 (named after the Kingdom’s most famous architect) was formed to raise awareness of the New Khmer Architecture movement.In 2023 the Ministry of Culture and Fine Arts started compiling a database of heritage buildings that are more than 50 years old nationwide and earmarked for protection and to be registered on a National Heritage List which includes churches, pavilions and other buildings. This was sparked following the unauthorised demolition of three heritage buildings at Wat Ounalom and the attempted demolition of an ancient stupa at Wat Botum. The three razed buildings (43, 44 and 45) were built in the 1930s but Wat Ounalom was established in 1443 and some of the buildings are centuries old. As many as 90 pagodas had been registered and legally protected from demolition by 2024.Phnom Penh’s Architectural Evolution: A Blend of History and InnovationPawel Siudecki -  Lead Architect and CEO Phnom Penh, the capital of Cambodia, showcases an architectural landscape that reflects its rich history while also embracing modern innovation. Each building within this lively metropolis tells a story of socio-political evolution and cultural identity, making Phnom Penh a living museum of architectural diversity.The city’s buildings are more than just structures; they are chronicles of its socio-political evolution and cultural identity.Historical Evolution Of Phnom PenhThe architectural tapestry of Phnom Penh is woven with strands of traditional Khmer designs, French colonial influences, and mid-20th-century modernism. Each style contributes to the city’s unique aesthetic and serves as a physical representation of different eras in its history.These diverse architectural styles not only enhance the visual appeal of the city but also provide insights into Phnom Penh's evolving identity through time.Traditional Khmer DesignsReflect Indigenous aesthetics and religious influencesOften seen in temples and royal structuresFrench Colonial Architecture In Phnom PenhIntroduced during the French colonial periodCharacterised by elegant facades and colonial mansionsMid-20th Century Modernism In CambodiaEmerged during the post-independence eraMarked by functional design and a focus on simplicitySymbolism in Phnom Penh’s LandmarksPhnom Penh's iconic landmarks, such as the Independence Monument and the Olympic Stadium, are more than mere structures; they are symbols of Cambodia's national narrative.These landmarks stand as attestations to the resilience and ambition of the Cambodian people, marking significant milestones in the country's history.Phnom Penh Independence MonumentSymbolises Cambodia’s freedom and self-determinationCelebrates the country’s emergence as an independent nationOlympic Stadium - Phnom PenhRepresents aspirations of modernisation and progressEmbodies the spirit of a forward-moving nationOn how we can balance preservation and modernisation and how the private & public sectors and government could highlight the importance of these historical buildings, Pawel Siudecki says, “A basic framework needs to be established by the government, including an enforcement arm to prevent violations. This framework should also include a comprehensive list of objects to be preserved. Additionally, private sector involvement is crucial, where architects, planners, historians, and other experts can consult with the government to develop effective preservation strategies.”Bridging History and Innovation - Adaptive Reuse in Phnom Penh's Urban LandscapeAs Phnom Penh continues to grow, the city's architectural journey is marked not only by preservation but by innovative adaptation. Just as the Independence Monument and Olympic Stadium symbolise key moments in Cambodia’s history, the trend of adaptive reuse is transforming the city's urban fabric in new and exciting ways. By repurposing old industrial spaces, Phnom Penh is bridging its historical legacy with contemporary needs, creating a dynamic dialogue between the past and the future. Factory Phnom Penh is a prime example of this, embodying the balance between maintaining historical integrity and nurturing modern creativity.Adaptive reuse not only breathes new life into forgotten buildings but also fosters a dynamic interplay between preservation and innovation, adding a new layer to Phnom Penh’s architectural narrative.Factory Phnom PenhTransformed a former factory into a bustling cultural hotspotNurtures creative communities and startupsBalances historical preservation with contemporary useSiudecki added in terms of local inspiration, “In short, deeper historical inspirations in Cambodian architecture and art, drawing from its rich cultural heritage like Angkor Wat. Next, tropical modernism - a blend of modernist design with local climate adaptations seen in contemporary Cambodian architecture. Finally, emerging Cambodian artists who also merge traditional motifs with contemporary influences, creating a vibrant, evolving art scene.”Balancing Preservation and Modernisation In Phnom PenhAs Phnom Penh undergoes rapid transformation, the challenge of balancing modernisation with heritage preservation becomes increasingly pressing. Urban planners and developers must grapple with this delicate balance to retain the city’s historical essence while accommodating new developments.Striking this balance is crucial for sustainable urban development and the preservation of Phnom Penh's unique character.In terms of modernisation efforts, they could incorporate advanced infrastructure and technology while also aiming to improve the quality of life and economic growth.From a heritage preservation perspective, a focus on maintaining the city’s cultural and historical integrity will ensure that new developments respect the historical context.Lessons in Heritage PreservationReflecting on Phnom Penh's architectural evolution offers valuable insights into the broader challenges of heritage preservation. Strategies used in preserving and revitalising heritage hotels can serve as models for maintaining historical significance while adapting to contemporary needs.By drawing connections between the preservation of heritage hotels and Phnom Penh’s architectural evolution, we highlight the importance of honouring our past while embracing future possibilities.Read more in the previously published piece on heritage hotel preservation in Cambodia.And what is Siudecki’s favourite heritage building in Phnom Penh? “My favourite building is the Institute of Foreign Languages (IFL). What makes it stand out is its design which incorporates the principles of tropical architecture. Unlike the typical boxy structures often seen in educational buildings, the IFL embraces open spaces and strong forms that allow for natural ventilation and shade, crucial for a tropical climate. This design not only promotes comfort but also creates areas where students can socialise and engage, making the IFL more than just a place for learning— a 50-year-old hub for community and interaction.”ConclusionPhnom Penh’s architectural landscape is more than a visual journey; it’s a reflection of its unique identity, where history, culture, and innovation converge. This ongoing evolution presents both challenges and opportunities, particularly in balancing modernisation with heritage preservation. By embracing this balance, we can create a sustainable urban future that honours the past while paving the way for new possibilities.See the article from The Room Design Studio here.

Phnom Penh, Cambodia – Global Titan Stone Real Estate Development and Realestate.com.kh are excited to announce their exclusive partnership at the launch of the prestigious Picasso Sky Gemme (Picasso 2) condominium project. Officially launched on 22nd August 2024, this collaboration marks a significant milestone in Phnom Penh’s real estate landscape.(Realestate.com.kh team and Ms. Smallove Teoh Seok Ai during the MOU Ceremony.) Exclusive Signing CeremonyThe signing ceremony between Titan Stone Real Estate and Realestate.com.kh took place at Picasso Sky Gemme’s official launch at Sokha Hotel Phnom Penh on Thursday. The ceremony celebrated the union of two industry leaders, each bringing unique strengths to the partnership.Picasso Sky Gemme is the latest development from the renowned Titan Stone Real Estate, whose portfolio includes acclaimed projects such as KY iCentre and the luxurious Picasso City Garden. This new venture promises to elevate urban living in Phnom Penh by offering a sophisticated blend of art-inspired design and premium amenities.(Rendered image of Picasso Sky Gemme building.)“We are delighted to partner with Realestate.com.kh, whose local and international reach will undoubtedly drive the success of Picasso Sky Gemme,” said Ms. Smallove Teoh Seok Ai, General Manager of Titan Stone Real Estate Group. “Their sales and marketing expertise, along with the tools and support they provide to all agencies and agents, will ensure that our clients receive the highest level of professional service.”(Rendered image of Picasso Sky Gemme amenities.)The partnership is expected to leverage Realestate.com.kh's expansive network and digital prowess to effectively showcase Picasso Sky Gemme to a local and global audience. This collaboration aligns with Titan Stone Real Estate's commitment to excellence and innovation in every project they undertake."We are thrilled to collaborate with Titan Stone Real Estate on the launch of Picasso Sky Gemme," said Tom O’Sullivan, CEO of Realestate.com.kh. “This project is more than just a residential development; it's a masterpiece that combines the elegance of art with the luxury of modern living. Picasso Sky Gemme will set a new benchmark for sophistication in Phnom Penh, and we are excited to play a part in bringing this vision to life."This partnership underscores the shared values of both companies in delivering unparalleled quality and innovation to the Cambodian real estate market. As Picasso Sky Gemme enters the market, it is poised to become one of Phnom Penh’s most sought-after residential addresses, attracting discerning buyers who want luxury living in a prime location.About Picasso Sky Gemme: True Luxury in Boeung Keng Kang 1 (BKK1)Located in the heart of Phnom Penh’s Boeung Keng Kang 1 (BKK1) district, Picasso Sky Gemme, commonly known as Picasso 2, stands as a unique blend of art and architecture inspired by the legendary Pablo Picasso. This 52-story landmark development brings modern elegance to one of the city’s most coveted neighborhoods, offering residents an upscale urban lifestyle with direct access to vibrant city life.(Rendered image inside Picasso Sky Gemme unit.)The exclusive residence offers only 276 units and an unmatched 8 floors of amenities. Regular amenities include both an indoor and outdoor swimming pool, dining areas, games rooms and kids zones.While Picasso Sky Gemme exclusive amenities include an outdoor theater, a multi purpose hall, Library, Indoor golf driving range, rock climbing wall, natural gardens, running track and more. (Rendered image of Picasso Sky Gemme amenities.)BKK1 is known as Phnom Penh’s premier district for high-end residential properties, trendy cafes, international schools, and boutique shopping. Picasso Sky Gemme offers residents a perfect balance between the energy of the city and the tranquility of luxury living.About Titan Stone Real EstateTitan Stone Real Estate is a prominent subsidiary of the Titan Stone Group, a diversified conglomerate with interests across various sectors. In addition to real estate, the Titan Stone Group's portfolio includes Titan Stone Life Insurance and Titan Stone Investments, reflecting its commitment to excellence and innovation across industries.About Realestate.com.khEstablished in 2009, Realestate.com.kh is the leading real estate platform in Cambodia - marketing over 20,000 properties from the leading agents and developers, and generating 1000’s of buyers and renters each year. Realestate.com.kh offers an ecosystem of products and services for agencies, agents and developers in Cambodia with the intention of creating an efficient, transparent and sustainable property market. Contact Realestate.com.khFor early bird promotions Website: Realestate.com.khPhone: +855 92 92 1000Email: info@realestate.com.khFor agents and agencies wanting more informationWebsite: Realestate.com.khPhone: +855 78 65 32 26Email: phany.chuon@realestate.com.kh

Realestate.com.kh are thrilled to exclusively introduce the pre-launch of Picasso Sky Gemme, a brand-new condo project that’s set to redefine luxury living in Phnom Penh! If you’re looking for a modern, stylish home or a fantastic investment, Picasso Sky Gemme is now your chance to be part of something truly special.Why is Picasso Sky Gemme So Special?Picasso Sky Gemme isn’t just another condo project; it’s designed to offer a one-of-a-kind lifestyle. Imagine living in a home where art meets modern comfort, with stunning views of the city skyline right from your window.Located in BKK1, you’ll be just minutes away from major shopping centers, restaurants, and the business district. Everything you need is right at your doorstep!Wanna know more? Stay tuned for the exclusive launching of Picasso Sky Gemme by this Thursday!About DeveloperWith the success of Picasso City Garden, commonly known as Picasso 1, Global Titan Stone Real Estate Development sets a promising foundation for Picasso Sky Gemme, which is poised to become another landmark in the high-rise real estate landscape.Known for its commitment to high-quality construction, innovative designs, and delivering world-class residential projects, Global Titan Stone has quickly gained a reputation for excellence. Their vision is to create iconic landmarks that enhance urban living experiences, blending comfort with modernity. With a focus on long-term value, the developer ensures that every project, including Picasso Sky Gemme, is a solid investment for homebuyers and investors alike.Be Among the First to Secure Your Unit!Realestate.com.kh will exclusively launch the special offer by this Thursday so if you want to grab the opportunity, make sure to contact us now and pre-book the slot for the special offer! Ready to take the next step? It’s easy! Simply visit Realestate.com.kh to find out more details or get in touch with us directly!

Although the residential property market is seeing price corrections and challenges in Cambodia, as they are across the region, two commercial property groups, data centres (which we have flagged before as seeing potential growth in the Kingdom due to the digitalisation and logistics drive taking place), and hotels which form a crucial part of developing the tourism sector have not faltered, with several well-known hotel brands launching in Cambodia in 2024, or have been announced.Not limited to this year, but new hotel openings in Cambodia have included brands such as the Hyatt Regency, Novotel, Tribe, Ibis Budget, Fairfield, Citadines and others bringing the hotel room stocks in Phnom Penh alone to over 15,000.New 2024 Hotel Launches In CambodiaNovotel Sihanoukville Holiday ResortNovotel Hotels, Suites & Resorts opened two new hotels in Cambodia in 2024. The hospitality brand is part of the Accor group, and in Q1, the Novotel Sihanoukville Holiday Resort opened which was their first Novotel property in Cambodia. At the time of the opening, Garth Simmons, Chief Operating Officer of Accor’s Premium, Midscale and Economy Division in Asia said, “With the growing potential in Cambodia’s hospitality sector, we are thrilled to introduce the Novotel experience to the country for the first time.”The hotel resort is located in Independence Beach, the 215-key resort has four dining options (Food Exchange, Aqua Bar & Grill, Gourmet Lobby Bar & Café, Domrei Bar & Cigar Lounge), as well as offering family-friendly facilities. The property also has a beachside infinity pool and a separate kids’ pool.The hotel offers eight room configurations, ranging from 32 sqm Standard Rooms to more high-end 96 sqm Suites that feature bathtubs and wrap-around terraces. There are also interconnecting rooms available catering to family and group vacations.Sihanoukville International Airport is 25 km from the hotel, and thanks to the Phnom Penh-Sihanoukville Expressway, a 2.5-hour drive away from the capital.Novotel Phnom Penh BKK 1Following the launch of its coastal property, Novotel Phnom Penh BKK 1 also opened in mid-2024 with a social hub and a range of dining and wellness options in the centre of the Cambodian capital.Garth Simmons said the launch reaffirmed their commitment to “contributing to the growth of the hospitality and tourism industry in the flourishing Asian region,” and the property is the 9th Accor hotel in Cambodia.Novotel Phnom Penh BKK 1 offers 254 guestrooms, from superior to executive suites, guests in the latter enjoy access to the Executive Lounge on the 20th floor, which offers private meeting spaces for work or social interactions. F&B options include Makila, Kaixo, Rosemary Pool Bar, and In Balance.Chaiya Palace Hotel - Phnom PenhThe hotel also opened in mid-2024 in Phnom Penh in Chaktomuk Commune, Daun Penh District. The Chaiya Palace Hotel’s 80 rooms feature private balconies, while the property also has an infinity pool with 360-degree views of Phnom Penh. The spa, sauna, and steam room are available to guests and F&B choices include; Savory Restaurant, a rooftop Sky Bar, and a VIP lounge. By Q3 2024, the majority of hotels in Phnom Penh were located in the capital's central Sangkats and accounted for more than 83 per cent of the total existing supply in the capital. More than half of the category of hotels will be Luxury and Upper Upscale according to recent reports.Don’t forget to attend the Realestate.com.kh Property, Business & Lifestyle EXPO 2024 in October.Hotels Under Development In CambodiaMore than 3,500 hotel rooms are in the future pipeline in Phnom Penh, and most upcoming properties are in the capital but Siem Reap and the coast should see more developments added.Angsana Siem ReapThe Singaporean multinational hospitality group Banyan Tree Holdings Limited (Banyan Group) announced in early 2024 that they would launch a hotel and resort project in Cambodia.Located in downtown Siem Reap, it was initially expected to open in the third quarter of 2024, but now seems likely to open its doors in 2025. The brand has also now partnered with DARA Hotels in Cambodia and the Angsana facilities include a lagoon-style swimming pool while all villas include a private pool. In total, there will be 158 keys with a mixture of 129 Deluxe rooms, 10 Suites, and 19 Villas.On site, there will be 5 food and beverage outlets; Three Meals Restaurant, Apsara Bar, Angkor Bar, Saffron, and Firefly Bar. There will also be MICE facilities, a spa, and a fitness centre.Ritz-Carlton Phnom PenhThe Ritz-Carlton Phnom Penh was announced this month in August 2024 and is a partnership between Royal Group International and Marriott. The hotel and residence will be located on Norodom Boulevard and form part of a broader trend of luxury brand expansion in Cambodia.Although actual details were scarce, the luxury hotel will feature five restaurants and the development is another integration of a hotel into a broader multi-facility property development that also offers residential and office spaces. The opening date was not specified.Radisson Hotel Group & Prince Real Estate Group - Prince Happiness PlazaThe two firms announced in Q1 2024 that they had signed an agreement to introduce two of the hotelier’s branded hotels to Phnom Penh’s hospitality sector by 2026.Both the Radisson RED Phnom Penh and the upscale Radisson Blu Hotel & Residences, will form part of the integrated Prince Happiness Plaza, a mixed-use development that will comprise high-end retail, dining and commercial elements. At the time of the announcement, Mr. Ramzy Fenianos, Chief Development Officer, Asia Pacific, Radisson Hotel Group, said: "We are thrilled to announce this important partnership, which provides the perfect opportunity for Radisson Hotel Group to make its debut in Cambodia. This is a key emerging market with vast potential for business and leisure travel, so this dual-branded development will add considerable value to our company's rapidly expanding portfolio in South East Asia."Radisson Blu Hotel & Residences Phnom PenhThe Radisson Blu Hotel & Residences Phnom Penh is expected to offer 250 keys and include 160 guest rooms and serviced apartments and 90 branded residences, which will include studios up to three-bedroom residences. The property will offer a rooftop swimming pool and a sky bar.Radisson Red Hotel Phnom PenhThis property will comprise 200 suites with deluxe and one-bedroom suites. The four-star hotel experience will also provide a co-working space, a reading lounge, and event venues to cater for business and social events.Find out why BKK1 Remains The Most Sought After Area in Phnom Penh.Shangri-La Phnom Penh HotelThere have not been any firm concrete updates on when this luxury hotel will open in the Cambodian capital, but it's due to be part of the premium mixed-use tower The Peak and was due to include 303 rooms, offer five dining options, a spa, and extensive event spaces.The accommodation ranges from rooms, suites and apartments sized between 45 sqm to 135 sqm, while the 51st floor will have a health club and a spa.

The Kingdom’s growing property market, which has already seen the approval of more than 1,300 construction projects to cover more than 4 million sqm in 2024, as well as the addition of an estimated 14,000 condo units expected by the end of the year has also seen new investment and property and real estate regulations passed. We review some of these regulation updates and their impacts.2024 Legal Updates In Cambodia's Real Estate SectorKey legal updates for 2024 include:Prakas No. 50 (July 19, 2024) on the procedures and formalities for registration of private units of co-owned buildings constructed before December 19, 1997.Special Program to Promote Investment in Preah Sihanouk Province.Prakas No. 047 on Land parcel development / Housing/co-owned building development / Residential Development - which replaced Prakas No. 089 dated January 20, 2020, on the management of Real Estate Development Business.There are also digitalised procedures for applying for professional certificates and licenses to conduct real estate service business in Cambodia.Prakas 050 - Procedure For Private Units In Co-Owned Buildings Built Before 1997 In Cambodia. Prakas 050 was issued by the Cambodian government on 19 July 2024, and details the registration procedure for private units in co-owned buildings built before 1997 in Cambodia. Foreigners who purchased units at such buildings can now register their soft titles or possession documents to receive official ownership titles. Foreigners who may have purchased in that period would have received a soft title and there was previously a ban on registration or transaction for these condominium units or apartments. This Prakas is an attempt by the Cambodian government for foreigners who were in this situation to apply for a possession document to obtain an ownership title - the Praka outlines the procedure to apply for the private unit certificate which entails completing the form with the Ministry of Land Management +ID + fees.What Is The Private Unit Certificate?The Certificate of Perpetual Lease over a Private Unit is a form of property ownership for long-term tenants in co-owned buildings such as condominiums or office buildings in Cambodia. This certificate is issued to the tenant by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) for their private unit within the co-owned building.Co-owned buildings are structures where multiple owners reside, with each owner having exclusive rights to their private unit and shared ownership of common spaces like lounges, pools, and gyms. As of Q4 2022, there are around 30,000 condo units in Phnom Penh across 100 buildings, expected to rise to 80,000 units by 2025.To obtain this certificate, the owners of the private units must provide the original current certificates of title or other proof of legal ownership. The Certificate of Perpetual Lease over Private Unit grants the tenant long-term occupancy rights to their private unit within the co-owned building.Under Cambodian law, foreigners are allowed to own up to 70% of the private units in co-owned buildings, excluding ground and underground floors. See a guide here on the most vital documents when it comes to Cambodian property ownership.Prakas 047 - Real Estate Development Business License And PermitsPrakas 047 outlines the rules and procedures for issuing real estate development business licenses/permits, and replaces Prakas No. 089 dated 20 January 2020 on the Management of Real Estate Development Business.It should be noted that existing licenses/permits issued before the issuance date of Prakas No. 047 remain valid until their expiry date.According to legal firm DFDL, Prakas No. 047 aims to enhance the effective management of real estate development businesses and introduces two types of licenses or permits for different types of real estate development activities:Residential development or co-owned building development business licenses/permits - projects ranging from 3 to 30 houses, villas, or units require a prior permit from the relevant Capital-Provincial Department of Economy and Finance (DEF). development project with a size exceeding 30 houses, villas, or units must obtain a prior license from the Real Estate Business and Pawnshop Regulator (“RPR”) of the FSALand parcel development business licenses/permits - Land parcel development projects with a total area below 10,000 square meters must obtain a prior permit from the DEF, while projects exceeding 10,000 sqm size require a prior license from the Real Estate Business and Pawnshop Regulator (RPR).There are also further requirements on meeting capital requirements, as well as fines outlined for not fulfilling the obligations or having the required licenses and permits - fines for operating without proper licenses can range from 500,000 Riels (approximately USD $125) to 500,000,000 Riels (approximately USD $125,000).New Digitalised Procedures For Applying For Professional Certificates And Licenses For Conducting Real Estate Service Business In The KingdomThe RPR announced a new digitalised procedure for applying for professional certificates and licenses to conduct real estate service business in the Kingdom.  This forms part of the transition to online licensing procedures aligning with the Royal Government of Cambodia’s (RGC) Cambodia Digital Government Policy 2022-2035.These online licensing applications are related to real estate agency, management and valuations. Business representatives of the applicants must demonstrate that they have the necessary qualifications and experience related to the service offered (there are categories of license)As of August 1, 2024 all applicable real estate sector parent companies and branch offices can wholly apply for professional certificates and licenses for professional real estate services through the online portal of the RPR (which is called the Information Technology System Portal).Applicant companies can submit their application for professional certificates and licenses and all relevant fixtures online using the ‘CamDigikey’ app.According to the 2022 regulation, entities found undertaking real estate services or related advertisement activities without the required licensing will be liable for fines between KHR 5,000,000 and KHR 10,000,000, as well as immediately ceasing any such activities.2024 Cambodian Property Tax ObligationsProperty owners in Cambodia should be aware that the deadline to declare 2024 property tax payments is September 30, 2024. This is also known as the Tax on Immovable Properties (TOIP).On July 31 2024, the General Department of Taxation (GDT) released a circular to remind all concerned of their obligations to pay the tax and that those who do not will be subject to administrative penalties. TOIP imposes an annual tax rate of 0.1 per cent on the taxable base on immovable properties (immovable properties include land, houses, infrastructure, buildings and other constructions) that are valued at over $25,000 or KHR 100 million*. The taxable base is 80 per cent of the total value of the property value in Cambodia (including the land and building values).Taxable Base = (Property Value x 80 per cent) - (100,000,000 rielProperty Tax Payable = Taxable Base x 0.1 per centYou can pay via the “GDT Taxpayer App” which is available for download for Android and iOS devices- the Cambodian GDT recommends this method as a fast and easy way to manage required property tax payments.It should be noted that taxpayers making this year’s payment will need to provide their Property Tax Registration ID or the tax payment receipt of the previous year.*Properties under this value, as well as state-owned lands, agricultural land and industrial land, are exempt from paying property tax.

The highly-anticipated and debated Funan Techo Canal project was launched on August 5th 2024 with the ambitious plan to connect Cambodian waterways over the length of 180 kilometres passing through Kandal, Takeo, Kampot, and Kep provinces at a cost expected to be approximately USD $1,7 billion. It's one of several large-scale infrastructure projects in the Kingdom trying to shape the economic standing of the country.The project was announced in 2023 following 26 months of feasibility studies and had a targeted completion date in 2028 when it was announced.  However, Hun Manet said in a speech in May 2024 that the project might take 5-6 years to complete while other observers have questions if the project is in fact under-budgeted.The groundbreaking ceremony was held in Prek Takeo village, Samrong Thom commune in Kandal province’s Kien Svay district, which was presided over by Samdech Moha Bovathibodi Hun Manet, Prime Minister of the Kingdom of Cambodia and First Lady Lok Chumteav Dr. PICH. Chanmony HUN Manet and in attendance were deputy prime ministers, senior ministers, and ministers.The Funan Techo Canal is a significant project aimed at enhancing the country's logistics and economic capabilities, so can it deliver on its hype?Cambodia Celebrates The Canal’s LaunchJust days before the ceremony, it was announced that the day would be celebrated as a national public holiday to mark the occasion, and as many as 10,000 people were expected to attend, with the event marked by the sound of bells, gongs and drums across the country at 9:09 AM.Two large-scale concerts were held, one on Koh Pich in Phnom Penh and another in Kandal’s Takhmao town while the Kandal provincial administration prepared Kun Khmer, Bokator and other forms of martial arts competitions to mark the milestone. There were also fireworks planned to be held in the capital later in the evening.What Do You Need To Know About This Major Cambodia Infrastructure Project - Cambodian Funan Tech CanalFTC Length and StructureThe canal is planned to be 180 kilometres long, connecting Phnom Penh to the coastal province of Kep, ultimately reaching the Gulf of Thailand.Split into three stages, starting in the Takeo Canal of the Mekong River, the project will pass through Prek Ta Ek of the Bassac River, Prek Ta Hing of the Bassac River, Koh Thom district, and onto the sea in Kep province - in total passing through four provinces (Kandal, Takeo, Kampot, and Kep).First Segment (20km): Connects the main Mekong River to the Bassac River.Second Segment (30km): Follows the natural course of the Bassac River.Third Segment (130km): Connects the Bassac River to the Gulf of Thailand through the port of Kep.The Funan Techo Canal will be approximately 100 meters wide at the top and 80 meters wide at the bottom with a depth of 5.4 meters (navigation depth of 4.7 meters and safety distance of 0.7 meters), with two lanes designed to accommodate vessels to safely travel in opposite directions and with a deadweight tonnage (DWT) of up to 3,000 tons.The project was initially said to include three dams/sluices, 11 bridges, and a 208-kilometre sidewalk, as well as provide navigation assistance and other river-crossing infrastructure.It is designed to accommodate cargo ships up to 3,000 tons in the Cambodian dry season and 5,000 tons in the rainy season.Cost and Funding The Funan Techo CanalThe project is estimated to cost around USD $1.7 billion, with funding primarily from the China Road and Bridge Corporation under a 50-year Build-Operate-Transfer (BOT) model. In June 2024, Prime Minister Hun Manet confirmed that a 51 per cent stake would be held by Cambodian investors.Around 1.6 million people live on either side of the planned canal and will be impacted. The government said “fair compensation” and resettlement with a similar approach taken with the Phnom Penh-Sihanoukville Expressway will be implemented.Some reports have suggested that the expected cost is too low and potentially the economic rewards too high. Pham Phan Long, founder of the Viet Ecology Foundation wrote, “The Funan Techo Canal will be as long as the (Phnom Penh- Sihanoukville) highway but three to four times wider. The canal structure must be engineered to withstand both water pressure and turbulence from moving merchant ships up to 5,000 DWT. That heavy load requires that the canal have a stronger bed than the expressway.”He added that according to some experts, particularly from China, that a similar 100km canal in China cost over USD $10 billion to develop.Cambodian Economic Goals Spurred By Canal DevelopmentThe Cambodian FTC aims to reduce Cambodia's reliance on Vietnamese trade routes, potentially cutting shipping costs by 70 per cent and generating significant revenue from tolls.By reducing the duration, distance, and cost of current transportation; the peripheral economic construction and economic developments and major job creation at the existing Sihanoukville Autonomous Port, Phnom Penh Autonomous Port, and other ports; the project will serve as a flagship for promoting sustainable urban development; promoting real estate growth and the Kingdom’s economic development.Deputy Prime Minister Sun Chanthol, First Vice President of the Council for the Development of Cambodia, stated in April 2024 that the canal is expected to generate USD $88 million annually in the first year and $570 million annually by 2050, and create approximately 1.6 million jobs as well as boost agricultural productivity through improved water resource management.These economic windfalls are based on the Economic Internal Rate of Return (EIRR) and Chanthol added that the Ministry of Economy and Finance (or the World Bank) only provides funding to projects if the EIRR calculation is at least 12 per cent, but in the case of the Techo Funal Canal the estimates are for 30%.The construction would span such a vast length of the waterways, that the government anticipates residual benefits too. These would include:The establishment of trade zones and logistics centresDevelopment of new satellite cities/areasExpansion of development zones for agriculture, irrigation, aquaculture, and animal farming.This will continue to open up opportunities in Cambodia’s commercial real estate sector.Strategic Importance The Funan Techo Canal is seen as a vital project for Cambodia's aspirations to become a major logistics hub in Southeast Asia. Positioned to facilitate smoother trade routes, enhance connectivity within the country, and attract foreign investment.The canal will also link to Cambodia's Sihanoukville Special Economic Zone, which has been a focal point of investment under China's Belt and Road Initiative (and an area offering real estate incentives to address the unfinished buildings under the Special Investment Promotion Programme for Sihanoukville).Environmental and Regional ConcernsThe Cambodian government has highlighted the potential benefits, but the canal has raised concerns (notably from Vietnam). They have expressed concerns about the environmental impact on the Mekong Delta and that it could have contravened the Agreement on Sustainable Development Cooperation of the Mekong River Basin signed in 1995 by Cambodia, Laos, Thailand, and Vietnam.Other entities have expressed concerns about the canal potentially enhancing Chinese naval power in the region, primarily due to the likelihood of a Chinese company being involved in its construction but these have been dismissed by the Cambodian government.Cambodian Prime Minister Hun Manet previously said, “This project is more special than the other infrastructure projects. No project has so far brought such a strong sense of unity to Cambodian people all over the world. Some people may be objecting to this project. Some have been calling for people to stop believing in this project. But this project represents a strong sense of nationalism as it has gained the support of Cambodian people from all walks of life.”So what are the issues the Funan Techo Canal has raised?Environmental Impact: The canal's construction may disrupt existing ecosystems and alter water flow patterns in the Mekong Delta, potentially exacerbating flooding and affecting agricultural production..Geopolitical Tensions: Vietnam has expressed worries about the canal's implications for its own port traffic and regional security dynamics.Feasibility Questions: Critics argue that the projected costs and revenues may be overly optimistic, with some analysts suggesting that the financial viability of the project is questionable. The Funan Techo Canal represents a bold step in Cambodia's infrastructure development and is one of many large projects currently under development or seeking public-private funding.If the development goes ahead without issues or delay, which includes a complex array of economic, environmental, and geopolitical challenges that will require careful navigation, Cambodia will increase its strategic importance as a logistics hub which will challenge its neighbours and could reap benefits for a range of industries.

With several economic and sector reports being released over recent weeks as we passed the halfway mark of 2024, we look at some key reports on the Cambodian real estate and property sector, which includes the CBRE H1 2024 report released in July, as well as official government data.Approved Cambodian Construction Projects Jan-May 2024According to the Cambodian Ministry of Economy and Finance “Socio-Economic Trend Report” for May 2024, there have been to date 1,330 approved construction projects which cover an area of 4.278 million sqm, which represents a 23 per cent decrease in the number of projects and a 9 per cent decrease in the total area compared to the same period in 2023. The total value of the approved projects is USD $1.81 billion, which represents a drop of 20 per cent from USD $2.27 billion compared to 2023.These projects are broken down as follows:1,095 housing developments (1,061 boreys and 34 condominium projects)88 industrial developments90 commercial projects21 tourism-related projects35 public developments1 investment projectConversely, there has been a 23.1 per cent rise in the import of construction materials, while domestic cement production has increased by 4.7 per cent (3.5 million tonnes) over this period. Iron and steel imports were worth approximately USD $296 million which is an increase of more than 50 percent in 2023.CBRE Cambodia Real Estate Mid-Year Review 2024  CBRE Cambodia released its 'Phnom Penh Mid-Year Review 2024’ once again covering office, retail, condominiums, landed properties as well as industrial and logistics segments of the market.They reported that Cambodia's construction sector saw a potential revival despite a sluggish performance at the start of 2024 which indicated the market was still flat with retail and office occupancies stable but with room for improvement especially with new supply entering the market. The condo market continues to see new units enter the Phnom Penh housing market with as many as 14,000 units expected before the end of the year, while the industrial and logistics real estate sector saw 120 hectares of new launches being driven by manufacturing and the number of new commercial and trade deals the government has been entering with other nations to spur investment and economic growth.Phnom Penh Office Rental Rates & Occupancy Are SteadyAccording to CBRE, Phnom Penh’s office rental occupancy was 61.8 per cent in H1 2024, while the CBRE 2023 mid-year report indicated rental occupancy in the Cambodian capital was 58.3 per cent.Compared to cities such as Bangkok and Ho Chi Minh where the CBD has 80 per cent occupancy, Phnom Penh is lagging and CBRE added that the supply of office space for rent continues to grow. Of note, over a third (35 per cent) of the total supply is expected to be Strata-titled by the end of 2024.Office Rental Rates In Phnom PenhThe cost per square meter (sqm) decreased for the first half of 2024 compared to the same period in 2023, with the current price range in the Cambodian capital for office rentals sitting at between USD $25-30/sqm. The office supply is expected to increase by 198,000 square metres in 2024, with 31 per cent of this new supply already completed H1 2024.In Bangkok and Ho Chi Minh, rental prices increased compared to H1 2023; Bangkok's price range exceeds USD $30-35/sqm, while Ho Chi Minh City's average price was above USD $45.Office rental rates are approaching the bottom end and expected to maintain at that level, with Grade A and Grade B office rental prices above USD $20/sqm (H1 2023 Grade A office rental prices were USD $26.5/sqm. Grade B (NCBD) and Grade C (CBD & NCBD) were around USD $15/sqm or less.Grade B (NCBD) growth rate half-over-half (H-o-H) was up 6 per cent which was the biggest increase.Recently completed office projects in Phnom Penh include Versailles Square and  Maline Office Park, while upcoming projects include Chief Tower and the General Department of Taxation ‘GDT Tower’ project. From the energy sustainability aspects, the number of Leadership in Energy and Environmental Design (LEED) Certified Projects in Cambodia numbered 28 such projects, which is noticeably lower than other regional cities, according to data from the U.S. Green Building Council. There are sentiments that future projects are being developed with sustainable features a key consideration.Challenges Remain In H1 2024 - Retail Phnom Penh's retail rents and occupancy rates both remain lower compared to Bangkok and HCMC for example. Phnom Penh's retail real estate occupancy was slightly above 60 per cent, whereas Ho Chi Minh City's Non-CBD was nearly 90 per cent, and Bangkok and Ho Chi Minh City's CBD both exceeded 90 per cent.Delayed openings have persisted due to sluggish take-up and the average H1 2024 occupancy rate for retail was 58.7 per cent (compared to 68.5 per cent in H1 2023).Just under half (45 per cent) of the current supply are shopping malls in Phnom Penh but the food and beverage (F&B) sector continued to see new brand entries and expansions into the Cambodian market with more than 30 entries into the market but expansions is lower than the previous few years.Creative marketing and activities are seen as areas to improve upon in this competitive space.Retail Market Rental Prices - Phnom PenhPhnom Penh rental rates were approximately USD $25, which is half the price of Bangkok’s CBD and one-fifth the cost of Ho Chi Minh City's CBD. Despite Phnom Penh's retail sector remaining more affordable it still faces challenges in occupancy rates, which CBRE suggests means there is room for growth and development in the Cambodian retail market.Upcoming retail projects in the capital include 60M Community Mall, The Peak, and GDT Tower.Condominium Real Estate - 14,000 Units Expected To Be Added To Phnom Penh By The End Of 2024There has been a slowdown in new launches of condo projects in H1 2024, with 2,200 units completed ranging from affordable to mid-range projects. These include Times Square 7, Capital Center City, and L Tower TPP, while there were notably no high-end condominium launches during this period.Of the existing condo projects in Phnom Penh the supply increased during the first six months of 2024 by 2,400 units - with as many as 14,000 units expected by the end of 2024.CBRE Cambodia mid-year 2024 report suggests the condominium price half-over-half (H-o-H) for the affordable and mid-range types were down respectively by 9.9 and 5.9 per cent, while high-end condominium prices were up 0.3 per cent.On the positive side, Phnom Penh offers the lowest sale price (USD $2,500/sqm) for condominiums and is among the best rental yields (5.3 per cent) compared to Bangkok, Hong Kong, Ho Chi Minh, Manila, and Singapore.There has also been an increased interest from international brand residence operators while a decrease in international investors means greater demand from local buyers for affordable and mid-range properties.Landed Property Market In Cambodia New landed property launches experienced a slowdown in the first half of 2024 with 29 projects completed. The affordable landed properties made up 49 per cent of these followed by mid-range (44 per cent) and high-end (7 per cent) developments.The Cambodian landed property developers are reluctant to launch new projects, and have instead extended the existing developments in 2024.Industrial and Logistics Real Estate In CambodiaManufacturing is the main driver in this property sector in 2024 while the production of apparel (textiles, garments and footwear) leads the exports. The Cambodian government has been actively promoting the sector to boost investment, but CBRE says more needs to be done in the ease of doing business and trade competitiveness for investors to enter the market.From 2019 to H1 2024, the average 50-year land lease has increased by 12.1 per cent - rising from USD $54.4 to USD $61 per sqm, while the rental costs of ready-built factories within the Cambodian Special Economic Zones have decreased by 6.2 per cent from USD $3.2 to USD $3 sqmThe Special Economic Zones (SEZ) made for interesting reading, as it has been widely reported that Cambodia has 54 Special Economic Zones (SEZs) but according to CBRE, there are currently only 28 operational SEZs in four major cities:Bavet City - 9 operating SEZsPhnom Penh - 5 operating SEZsSihanoukville - 5 operating SEZsPoipet -  3 operating SEZs,Other Locations - 4 operating  SEZs There is nearly USD $36 billion tied up in infrastructure projects in Cambodia, with the congested pipeline until 2033 covering a range of improvements to transport and logistics as well as tourism.

The Realestate.com.kh Property, Business & Lifestyle EXPO 2024 returns from 19-20 October 2024, and the Kingdom’s largest expo of its kind will once again highlight the leading property developers, banks and financial institutions and services as well as lifestyle brands, expected to attract thousands of visitors to Premier Center Sen Sok.With the Property, Business & Lifestyle EXPO 2024 making exclusive deals and promotions available to attendees, over 100 of Cambodia’s leading borey and condo developers, banks, insurance providers and other key services and lifestyle brands will be present at the massive MICE event, creating a vibrant marketplace of investment & retail opportunities.The EXPO is part of Realestate.com.kh's annual events, offering unique opportunities to the Cambodian market and the chance to engage with industry-leading businesses. There are still limited available slots for potential exhibitors to be involved in one of the biggest business and consumer events of 2024.Who Is Attending The Property, Business & Lifestyle EXPO 2024?Some of the Kingdom's biggest names will be in attendance this October, with renowned property developers such as Chip Mong Land, Prince Real Estate Group, Canopy Sands Development, Borey Lorn City, and Borey Phum Sakura already confirmed.It's a who’s who of anyone linked to Cambodian property that will be present at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024 but also other leading industries helping shape the future of the economy - with the banks and insurance companies exhibiting and running special loan offers and coverage packages for your home and other property needs as well as legal firms, and trust companies.For investors and property buyers, the EXPO is the prime opportunity to take advantage of some of the best deals ever available offering a seamless buying experience to secure your property in a hassle-free environment face-to-face with the leading property experts and developments and service providers able to discuss comprehensive solutions and services designed to support your investment journey.Why Get Involved - Major Sponsors & Key SupportersSome of the biggest commercial and corporate names in Cambodia will be involved at the EXPO in 2024 but there are still limited opportunities available.There will also be property and business-related seminars, delivered by leaders in the industry on topics such as real estate trends; how to find the best opportunities in the market; what to look for when buying your first home; updates on Cambodia's economy; and future infrastructure developments. Popular with middle-class and affluent Cambodians, as well as expatriates and foreign property investors, the EXPO is an ideal marketing platform for businesses and an ideal marketplace for consumers and investors. Traditionally Cambodian attendees make up half of the participants with a healthy number of Chinese and other foreign attendees from the West and the Asian region including Singapore, Malaysia, Thailand, Vietnam, China, Hong Kong, Japan, and Korea.Click here to register for express entry or inquire about being an exhibitor.Record-Breaking Expos in CambodiaReal estate and lifestyle expos from realestate.com.kh have a reputation for a series of record-breaking successes.  The Real Estate EXPO held at the Premier Centre Sen Sok Phnom Penh in 2022 broke the country’s biggest property sales record, recording more than USD $30 million in sales and attracting over 12,000 visitors.In 2023 there were once again more than 10,000 attendees, with hundreds of Cambodia’s biggest brands, developers, agencies, banks, and insurance companies and more than USD $15 Million worth of property was sold!Nearly 40 local and international media are engaged in providing coverage of the EXPO via a range of broadcast mediums leading up to October 2024!Premier Centre Sen Sok Offers World-Class Event FacilitiesFor vendors and attendees at the 2024 Realestate.com.kh Property, Business & Lifestyle EXPO, Premier Center Sen Sok is a popular and well-known event venue in a strategic location which offers wide open spaces, accessible transport links and is directly adjacent to AEON Mall Sen Sok, one of the largest purpose-built shopping malls in Cambodia today.On-site, there will be international standard exhibitor booths, food and beverage and plenty of parking available with dedicated rooms set to host strategic seminars.What promises to be two engaging, insightful and informative days for the whole family, will feature several activities and an enticing selection of food and beverages.Pre-registration is LIVE now - you can sign up to get express entry at the event and updates on who will be joining the Property, Business & Lifestyle EXPO 2024.Contact InformationTel: (+855) 92 92 1000Email: stefania.khiem@realestate.com.kh

Nestled away in the center of Southeast Asia, Cambodia has become a vibrant and alluring destination for international investors. With a youthful and expanding population, a thriving economy, and a rich cultural legacy, Cambodia presents an ideal environment for investment. Sharing borders with Thailand, Vietnam, and Laos, the nation's advantageous location serves as a gateway to the larger ASEAN market, which is home to more than 650 million people.The economy of Cambodia has shifted from its agrarian roots to include thriving industries like textiles, tourism, construction, and real estate thanks to the government's strong promotion of foreign direct investment (FDI) through a variety of incentives. Navigating Cambodia's legal environment, especially its foreign ownership in Cambodia’s regulations, can be difficult despite the country's great potential.These regulations place particular limits, particularly on foreigners' direct land ownership, in an effort to strike a balance between promoting investment and national interests. However, options like long-term leases and ownership of stratum titles provide foreign investors feasible paths. Introduction to Cambodia's Investment LandscapeOver the past ten years, foreign investors have found Cambodia's investment landscape—particularly in the real estate sector—to be increasingly alluring. Together with a young and vibrant labor force, the nation's advantageous Southeast Asian position has accelerated economic expansion and urbanization. There is a real estate boom in major cities including Phnom Penh, Siem Reap, and Sihanoukville due to an increase in demand for residential, commercial, and industrial properties.Through the implementation of investor-friendly regulations, such as the creation of Special Economic Zones (SEZs) and the streamlining of the business registration procedure, the Cambodian government has been instrumental in promoting this growth. Furthermore, by providing preferential market access, Cambodia's membership in regional trade agreements—most notably the ASEAN Economic Community (AEC)—improves its attractiveness. Despite these advantages, foreign investors must carefully navigate foreign ownership in Cambodia’s laws and requirements, which are distinct and can be complex. For instance, while foreigners are allowed to own property in Cambodia, they cannot own land outright but can hold strata titles for properties above the ground floor. Understanding these legal nuances, including leasehold arrangements and investment incentives, is essential for mitigating risks and ensuring a smooth entry into Cambodia's vibrant real estate market. This foundational knowledge equips investors to capitalize on the opportunities while adhering to local regulations, thereby fostering sustainable growth and profitability. Legal Framework for Foreign OwnershipThe legal framework governing foreign ownership in Cambodia is primarily derived from the Cambodian Constitution, the Law on Investment (LoI), and the Land Law. Understanding these laws is essential for foreign investors seeking to establish a presence in the country.The Cambodian ConstitutionThe Cambodian Constitution is the supreme law of the land. It plays a crucial role in shaping the country's real estate landscape. Article 58 of the Constitution establishes that land and other natural resources in Cambodia are considered state property, which has significant implications for foreign ownership. Article 44 further reinforces that "only natural persons or legal entities of Khmer nationality shall have the right to land ownership."  This effectively prohibits foreign individuals and entities from directly owning land in the country.However, the Constitution does allow for foreign investors to acquire land through long-term leases ranging from 15 to 50 years, as well as to own buildings and structures through locally incorporated companies where Cambodian nationals hold at least 51% ownership.  These legal structures enable foreign investors to participate in Cambodia's real estate market while adhering to the constitutional restrictions on direct land ownership.The Law on Investment (LoI)The benefits and protections offered to foreign investors are outlined in the Law on Investment, which was first enacted in 2003 and revised in 2021. By providing security from state meddling, guarantees against nationalization, and the ability to transfer funds and earnings overseas, it seeks to foster an environment that is favorable to investment.The main organization in charge of overseeing and promoting foreign investment in Cambodia is the Council for the Development of Cambodia (CDC), which is home to the Cambodian Investment Board (CIB). For investors, the CDC offers one-stop services that expedite the process of acquiring required permits and approvals.The law itself aims to create an open, transparent, and favorable legal environment to attract both domestic and foreign investment. Specifically, the law provides important provisions related to real estate investments. It allows foreign investors to acquire long-term leases of up to 50 years, with the possibility of extension, to access land and property. The Land LawThe Land Law of Cambodia, initially implemented in 2001 and subsequently modified, is the basis of the nation's real estate industry. The legislation defines the procedures for transferring and registering land and makes clear several forms of property rights, including as ownership, leases, and concessions.Only citizens of Cambodia and legal companies with at least 51% Cambodian ownership are permitted to directly possess land under the Land Law. Nonetheless, foreign investors can purchase buildings and structures through locally incorporated firms and obtain long-term leases of up to 50 years.The law also allows foreigners to own up to 70% of private units in co-owned buildings, such as condominiums, from the first floor up, excluding the ground and underground floors. The Land Law, along with the 2007 Civil Code and the 2011 Law on the Implementation of the Civil Code, forms the main legal framework governing real estate transactions in Cambodia. At Last, Foreign ownership in Cambodia laws present both opportunities and challenges for investors. While restrictions on land ownership and sector-specific regulations exist, the country offers a favorable investment climate with numerous incentives and protections. By understanding the legal framework and adopting best practices, foreign investors can successfully navigate the Cambodian market and capitalize on its growth potential.FAQsCan foreigners own land in Cambodia?> No, foreign individuals and entities are not allowed to directly own land in Cambodia. However, they can acquire land through long-term leases (15–50 years) or by setting up a landholding company wherein Cambodian nationals hold at least 51% ownership.What types of properties can foreigners own in Cambodia?> Foreigners can own condominium units in Cambodia, provided that the total foreign ownership in the building does not exceed 70%. They can also hold leasehold properties for 15 to 50 years, with the possibility of extension.How does the new Law on Investment affect foreign investors?> The new Law on Investment aims to modernize Cambodia's investment environment by simplifying registration procedures, strengthening investor guarantees, and encouraging investments in strategic sectors. It offers incentives such as income tax exemption and customs duties incentives for qualified investment projects.Will the reinforcement of foreign ownership laws be made retrospective?> Based on precedents in other areas, there have been no retroactive penalties or nullification of sales for properties transferred into a foreigner's name. However, the future consequences for foreigners holding soft title properties in their own name remain unclear.What is the process for foreigners to acquire property in Cambodia?> The key steps include conducting due diligence, consulting with a lawyer, negotiating the purchase, signing the contract, making the payment, applying for property registration, paying taxes and fees, and obtaining the property title.

We are past the halfway mark in 2024, and diversifying the range of international investment into Cambodia has been a key shift of the government under Prime Minister Hun Manet and part of the Pentagonal Strategy which aims to grow employment, equity, efficiency and sustainability to and work towards realising the Kingdom’s goal of becoming a high-income country by 2050.We look at some of the key international diplomatic and economic missions that have seen deals signed in the first half of the year, and how competitive the Kingdom is in making it easy for international investors to visit.Cambodian Investment 2024 To DateIn alignment with the Pentagonal Strategy implemented by the Cambodian Royal Government in 2023, the Asian Development Bank (ADB) launched its new country partnership strategy for Cambodia for the same period of 2024-2028. Just one aspect of this is plans to accelerate private-sector-led economic diversification and also a focus on climate adaptation initiatives in agriculture, water resource ecosystems, and urban infrastructure.The latest report from the Council for the Development of Cambodia (CDC) released in July, indicated they have thus far approved 190 new projects, production expansion projects, and special economic zone investment projects worth a total investment of USD $3.2 billion in the first half of 2024.The industrial sector accounted for USD $1843 million (over 55 per cent), and infrastructure and other sectors at about USD $753 million (23 per cent).From a real estate development and property perspective, these investments include:Establishing and operating 2,870 five-star room hotels and business centres located in Sangkat 4, Sihanoukville, with an investment capital of over USD $500 million.An investment project to construct a multi-purpose port and logistics centre in Kampong Chhnang, with an investment of over USD $100 million.Increasing International Economic Investment & AgreementsMost recently, following a meeting between Prime Minister Hun Manet and Japanese Foreign Minister Kamikawa Yoko, Japan and Cambodia agreed in principle to expand cooperation on infrastructure with the development of the Sihanoukville Autonomous Port as a key focus, while there are ambitions to further attract Japanese investment.It was also reported that the Japanese government will provide approximately USD $2 million in financing for Cambodia to expand its electricity network in the Cambodian capital.July 2024 also saw the Cambodian Prime Minister meet with the Ambassador of Malaysia, and the Ambassador of Germany to Cambodia to look at ways of boosting and facilitating trade and investment as well as specific projects in the commercial and tourism sector, for example.The second France-Cambodia Business Forum is also taking place in July 2024 with sectors such as construction and infrastructure, digital technology, healthcare, energy, urban planning, tourism, logistics and transportation, agriculture and agri-food, all under discussion.There were also key State visits to France, South Korea, Laos, Thailand, and Australia in 2024 which all announced economic developments and Memorandum of Understandings across a range of sectors.Read more on the Top 5 Reasons Why Investors Choose Cambodia.Visas and Entry to CambodiaIn July 2024, Cambodia implemented a new e-immigration application process for all arrivals, including tourists, expats, and Cambodians.  The Cambodia e-Arrival (CeA) scheme requires travellers to complete an online application within seven days of arrival even if they have been granted a visa (having completed this recently, it's a very simple process and much more convenient than the old paper system - which was still an option to arriving passengers on our flight in July 2024.)Visas still need to be applied for separately, and this is one area where Cambodia is arguably falling behind its regional neighbours.Thailand has visa-free entry for a number of countries (and actually no paperwork, physical or digital, is required), whereas Vietnam has also extended the length of stay for visas or a select number of countries. Competition for Chinese visitors in particular is increasing, and Laos has also announced temporary visa facilitations from July until the end of the year which offer citizens of China, including Hong Kong, Macau, and Taiwan, visa-free travel for up to 15 days. Citizens from certain European countries can also visit Laos visa-free for up to 15 days for tourism. The duration of stay for a multiple-entry visa has been increased from 30 to 60 days and citizens of 22 countries can apply for multiple-entry visas.Indonesia also announced plans to allow for visa-free travel to citizens of 20 countries (including China and India).Can Foreigners Own Land in Cambodia?As a reminder for all foreign investors, direct land ownership is restricted to Cambodian citizens or Cambodian entities, however, there are alternatives for foreigners who want to control land in the Kingdom. Find out more in Five Things To Consider Before Buying Property in Cambodia.Establishing A Landholding Company: Foreigners can buy land by forming a Cambodian company, which must have at least 51% Cambodian ownership.Trust Company: Allows a foreigner to buy land in Cambodia through a trust company, which must be registered with the Ministry of Economy and Finance. This covers various types of real estate including land, with the company acting as the property manager.Leasehold Property: Foreigners can buy a leasehold property, giving them 15 to 50 years of access to the property, renewable for another 50 years. This allows them to develop and construct structures on the land, though the land itself remains state-owned.Nominee Structure: Foreigners may seek a legitimate partnership with a Khmer citizen or use a nominee arrangement where a local acts as a silent shareholder.Not nationally implemented, but the Special Investment Promotion Program For Sihanoukville In 2024 offers another alternative investment mechanism in this specific region.

The Realestate.com.kh Property, Business & Lifestyle EXPO 2024 is coming this 19th and 20th of October 2024 (Saturday and Sunday), and it’s bringing exclusive deals and promotions from Cambodia’s leading borey and condo developers, banks, insurance, and many services for your home needs!A WORLD-CLASS VENUEThe Realestate.com.kh Property, Business & Lifestyle EXPO 2024 will be held at the Premier Center Sen Sok. This grand venue is well-known among Cambodians, expatriates, and foreign investors for its wide spaces, accessible roads, and is directly adjacent to AEON Mall Sen Sok, one of the largest purpose-built shopping malls in Cambodia today.WHO WILL BE AT THIS YEAR’S EXPO?Anything and everything related to Cambodian property will be at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024, including the most renowned property developers such as Chip Mong Land, Prince Real Estate Group, Canopy Sands Development, Borey Lorn City, Borey Phum Sakura and more.But buying a property is usually more than just the property itself. And this is where the advantage of buying at the EXPO truly shines. Not only will buyers be able to secure some of the best deals ever at the event, but the leading banks and insurance companies will also be exhibiting and running special loan offers and coverages for your home and other property needs. Buying and securing your property does not need to be a hassle when you can do it all at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024!It promises to be a fantastic day out for the whole family, featuring an array of engaging activities complemented by a delightful selection of food and beverages by the provided sponsors.CAMBODIA’S BEST REAL ESTATE SEMINARS & TALKSVisitors will be able to attend property and business-related seminars, delivered by leaders in the industry. Seminars will include real estate trends; how to find the best opportunities in the market; what to look for when buying your first home; updates on Cambodia's economy; and future infrastructure developments.A LOOK BACK ON THE 2023 EXPO More than 10,000 attendees, 100’s of Cambodia’s biggest brands, developers, agencies, banks, and insurance companies gathered for the country’s biggest property show of the year. The Real Estate EXPO 2023 held at the Koh Pich Exhibition Center last August was a success with over $15 Million worth of property sold over the weekend. The EXPO has solidified itself as part of the industry’s calendar of events as middle-class and affluent Cambodians, as well as expatriates and foreign property investors, attend the EXPO successfully securing the best deals and opportunities in real estate. Pre-registration is LIVE! Sign up now to get express entry at the event and updates on who will be joining the Property, Business & Lifestyle EXPO 2024 this coming October 19th and 20th. Register now!  RESERVE A BOOTH OR REGISTER TO ATTEND

R&F City Phnom Penh MIRO is offering a unique chance to grab its 38㎡ studio apartment at an unbeatable price starting from $5X, XXX and a 15% down payment. Move in right away and enjoy the flexibility of a 5-year interest-free instalment plan for the remaining amount. No waiting, no concerns about project delays—this ready-to-move-in apartment ensures you can start living in your own apartment today!Project DetailsDeveloper: R&F Group CambodiaOwnership: FreeholdLand Area: Approximately 951㎡Building Area: Approximately 25,328㎡Building Height: Two towers, 25 floors facing south and 32 floors facing east sideTotal Units: 612 unitsAvailable Unit Type: 38.38㎡ studio one-bedroomView Orientation: Southeast units enjoy river views of the Bassac River, and northwest units enjoy community garden viewsAmenities: 270° infinity pool, SKYBAR, floor-to-ceiling gym, rooftop garden, and approximately 500㎡ shared office spaceStarting Price: Total price starting from $5X,XXX, with a 5-year interest-free instalment optionUpcoming Location: Southern Phnom PenhR&F City Phnom Penh MIRO is an integral part of the R&F City Phnom Penh in the southern part of Phnom Penh. MIRO stands for Magic, International, Revolutionary, and Outstanding, encapsulating a vision for future living in Phnom Penh. Located in the rapidly developing ING New City, MIRO is strategically located on Hun Sen Boulevard. Within 15 minutes, residents have access to Phnom Penh's largest shopping centre, AEON Mall 3, the top international school, ISPP, and the premier healthcare facility, the Royal Phnom Penh Hospital.Surrounding InfrastructureMorodok Techo Flyover: Phnom Penh's first circular overpass, Phase 1 completed and operationalHun Sen Boulevard: The main road to southern Phnom Penh, and an area of growing interest for investment New Airport Road: 80-metre road connecting Hun Sen Boulevard directly to the new Phnom Penh airportPhnom Penh Railway: A future key transportation infrastructure planned with AEON Mall 3 Mean CheyNearby FacilitiesChip Mong Mall 271: 3 minutesISPP International School: 4 minutesMeanchey Avenue: 5 minutesAEON Mall 3: 7 minutesPhnom Penh New International Airport: 20 minutesVisit & Move in Today!Forget the polished renderings – nothing compares to the peace of mind that comes from seeing your new home in person. R&F City Phnom Penh MIRO, completed in 2023, invites you to come and experience it firsthand. Walk through the completed project, and take in the well-thought-out apartment layouts and stunning views. With ready-to-move-in units, there's no waiting, no construction delays, and no delivery risks. Invest with confidence and move in immediately – it's real, reliable, and ready for you.The 38.38㎡ one-bedroom, has a compact layout, with a simple and comfortable designSmart Entry Door: New technology that enhances better securityModern Minimalist kitchen: with an open design featuring custom cabinets, combining aesthetics and practicality;  it offers a furniture stand that quickly transforms into a functional dining table.Bathroom: Adopts a three-section separation design, with the shower area and toilet area separated by glass doors, keeping it clean and dry.Living Room and Bedroom: Both spaces have window entries, and balconies offering views of the city.The overall apartment layout is functional and the design is user-friendly, making the studio apartment ideal for those who seek a convenient living space.Living with Community AmenitiesExperience the best of both worlds at R&F City Phnom Penh MIRO, where you can enjoy the comfort of your apartment while benefiting from an array of amenities:270° Infinity Pool: While soaking in its infinity pool, you will enjoy views of the Bassac River.SKYBAR: An ideal venue for socialising and unwinding after work or during the weekends.Gym: Stay fit and healthy with the newest fitness equipment.Rooftop Garden: A tranquil green space to relax and rejuvenate.Shared Office Space: A 500㎡ area designed to cater to your work needs, ensuring productivity and efficiency.As a resident of R&F City Miro Phnom Penh, you'll also have access to extensive community amenities:Vast Community Space: Spanning approximately 560,000㎡.Largest Community Garden in Phnom Penh: A 35,000㎡ green haven for residents.Commercial Street: Nearly 10,000㎡ diverse shops and dining options.Star-rated Sports Club: A 2,800㎡ facility featuring various sports and recreational amenities.Hassle-Free Living with Top-Rated Property ManagementExperience unparalleled convenience with R&F City Phnom Penh MIRO's star-rated property management. Its comprehensive services include community cleaning and landscaping, 24/7 security patrols, maintenance, utility payments, and personalised value-added services such as home cleaning, house management, and rental services. The services are dedicated to providing a seamless living experience, ensuring every detail is taken care of for its residents. So, why keep paying rent when you can invest in your own home? With an ultra-low total price and convenient payment options, owning a cosy and comfortable home is within your reach. Don't miss out on this opportunity, and secure your own apartment today! —  to schedule a free viewing appointment, contact our customer service team below! Click Here

Phnom Penh, Cambodia - May 9, 2024: The real estate industry's finest gathered at the Sofitel Phnom Penh Phokeethra on the evening of Wednesday, May 8th to celebrate the achievements of outstanding individuals and companies in the industry.The prestigious event is organised annually by Realestate.com.kh in collaboration with The Ministry of Land Management, Urban Planning and Construction, The Real Estate Business and Pawnshop Regulator of Cambodia, and the Cambodian Valuers and Estate Agents Association.Tom O'Sullivan, CEO of Realestate.com.kh opened the evening with a keynote speech emphasising the crucial roles of professionalism, transparency, and trust-building in bolstering buyer confidence and sustaining international investment.During the evening, Realestate.com.kh launched its latest initiative, Connect, a platform designed to unify the entire industry. Connect aims to promote Cambodia and its real estate sector globally while enabling efficient and transparent transactions through one integrated platform.The event was graced by over 300 of the most prominent and successful real estate players in the country's industry. The nominees and award recipients were evaluated based on their industry leadership, innovation, business growth, impact, and overall excellence.Over 30 winners from the leading property developers and agencies in Cambodia were announced throughout the night and were awarded the iconic trophy, prestigious CREA seal, and gold plaques to confirm their company's success.The top Developer of the Year awards included the winner of the overall Developer of the Year, Overseas Cambodia Investment Corporation (OCIC), while Time Square projects’ developer MegaKim World Corporation won the Best Condominium Developer of the Year.The top development of the year winners included Canopy Sands Development, which won the top award of the evening, The Development of the Year. Le Condé BKK1, winner of multiple awards took home Condominium Development of the Year, whilst Borey Williams won the Best Landed Property Development of the Year, and Connexion, a multiple award winner, won Lifestyle Development of the Year.Mean Chey Residences, Picasso City Garden, Sophea Suites, Prince Happiness Plaza, Borey Amory, Diamond Bay Garden, and Time Square 6 were some of the other notable winners from the developer categories.Asia Real Estate Cambodia (ARC) and WH Living and Properties rounded out the agency awards for the evening.In a post-awards interview, Tom O'Sullivan, CEO of Realestate.com.kh, expressed his gratitude to the judging panel and emphasised the success of the 2024 awards. He remarked, "While the industry faces challenges, it's crucial for us to unite and reinforce our commitment to sustainable and transparent growth." O'Sullivan also extended thanks to all the sponsors, including Hanuman Beer, Port City Colombo, B2B Cambodia, DFDL Cambodia, The Room Architecture & Design, Over Under, GAC Motor Cambodia, TDB Projects, Khmer Times and other contributors who made the night a success.Complete list of winnersDeveloper winners Developer of the Year - Overseas Cambodia Investment Corporation (OCIC)Condominium Developer of the Year - MegaKim World Corporation (Time Square 6)Borey (Landed Property) Developer of the Year - Overseas Cambodia Investment Corporation (OCIC)Lifestyle Developer of the Year - Bay of Lights EntertainmentDevelopment winners Development of the Year - Canopy Sands Development - SihanoukvilleCondominium Development of the Year - LE CONDÉ BKK1Township Development of the Year - Canopy Sands Development  Mixed-Use Development of the Year - Prince Happiness PlazaBorey (Landed Property) Development of the Year - Borey Williams Affordable Condominium Development of the Year - Time Square 6Premium Condominium Development of the Year - LE CONDÉ BKK1Luxury Condominium Development of the Year - Picasso City GardenWaterfront Development of the Year - Diamond Bay GardenRetail Development of the Year - ConnexionPremium Condominium Unit Design of the Year - Diamond Bay GardenResidential Design of the Year (Interior) - Sophea SuitesLifestyle Development of the Year - ConnexionDevelopment of the Year – Eastern Phnom Penh - Borey AmoryDevelopment of the Year – Western Phnom Penh - Borey WilliamsDevelopment of the Year – Southern Phnom Penh - Mean Chey ResidencesBoutique Housing Development of the Year - The Future 30Community Mall of the Year - Mean Chey Avenue Sustainable Development of the Year - Connexion Agency winnersProperty Management Firm of the Year - Residential - WH Living & Properties Agency - Research / Valuation Firm of the Year - Asia Real Estate Cambodia (ARC)Realestate.com.kh Co-Broke Agency of the Year - Vanguard Investment And Consultancy Services & Botra Real Estate Realestate.com.kh Co-Broke Agent of the Year (Individual) - Ms. Sisowath Nearyroth&  Mr. Peng Khomsong

The Time Square ‘Residence Series’ is expanding! The well-known Taiwanese developer, Megakim World Corp. Ltd, unveils its latest project in Tuol Kouk district,Phnom Penh—Time Square 7. As the seventh project in this successful series—with the previous six nearly sold out—Time Square 7 represents a first-choice investment opportunity, especially with an exclusive early bird discount currently on offer.Project OverviewThis new project stretches over a land area of 1,734 square meters and rises to 49 floors, housing a total of 700 units serviced by 7 elevators. Time Square 7 caters to a variety of lifestyles with its diverse apartment layouts. Options range from efficient one-bedroom units (40, 47, and 60 sqm) perfect for individuals or couples, to a more spacious two-bedroom unit (76 sqm) ideal for small families. The largest three-bedroom units (100 sqm) are designed for larger families needing more space. Additionally, duplex units ranging from 1 to 4 bedroom (60, 70,100, 130 and 160 sqm) are also available on higher floors.When it comes to amenities, we can expect a sky lounge with city views, a pool & gym. The building features two car parking for convenience and the ground floor houses the lobby and commercial retail spaces, making daily necessities easily accessible for all residents. Location HighlightThe new project is only 450 meters from Time Square 2 and Time Square 3. Tuol Kork is renowned for its villas typically where most of Cambodia's elite reside. The district offers a quieter, residential atmosphere yet it remains well-connected to other key areas through a network of major roads. Tuol Kork is adjacent to the communes of Russey Keo, Daun Penh, Chamkarmon, Meanchey, and Sen Sok. The district offers a variety of options when it comes to cafes, restaurants, supermarkets, and hospitals, providing residents with multiple options to meet their lifestyle needs. Whether it’s dining, shopping, or healthcare, the area has much to offer.Popular Amenities Nearby:Financial Services: Residents are a 10-minute drive from banks like Canadia Bank, Prince Bank, BIC Bank, Wing Bank, and ABA Bank.Commercial Amenities: Dining and shopping options include Happy Lamb Hotpot, Fun Mall, TK Avenue, Eden Garden, View Park Mall, and Sunshine Family Park.Education Institutions: Over 20 international schools such as Western International School, Golden Gate American School, and Paragon International School are located the neighbourhood.Affordable Pricing & Early Bird DiscountsWith starting prices at $3X, XXX, Time Square 7 offers affordability paired with attractive early bird discounts. The payment plan is designed to ease the financial burden on buyers, requiring only a 20% down payment followed by up to 40 months of interest-free instalments.Project PopularityTime Square's developments have gained popularity across two of Phnom Penh's most sought-after districts, BKK1 and Tuol Kouk. Here's a brief overview of previous projects:Time Square 1 (17-story apartment in BKK1, completed in 2017, 100% sold out)Time Square 2 (Borey residential community, 100% sold out)Time Square 3 (30-story apartment in Tuol Kouk, completed in 2021, 100% sold out)Time Square 4 (25-story mixed-use development in Tuol Kouk, completed in 2023, 100% sold out)Time Square 5 (also known as Time Square 306, 45-story apartment in BKK1 on Street 306, groundbreaking in 2022, 100% sold out)Time Square 6 (also known as Time Square 302, 48-story apartment located in BKK1 on Street 302, groundbreaking in 2023, 98% sold out)Time Square 7 (49-story apartment located in Tuol Kork, now open for pre-sale!)Bookings are now open for Time Square 7! Don't miss the early bird discount—secure your unit today. Contact us now to reserve your new home or investment!Click Here

The 2024 hot season has been breaking records, not only in Cambodia, but Southeast Asia has seen prolonged periods of extreme heat and with the warnings of climate change, it's possible more similar seasons are upon us in years to come.Despite the incredibly hot weather this year, it's been predicted to be followed by a higher than usual rainfall in May for the start of the rainy season, which in itself raises other considerations of drainage and seasonal flooding in Cambodia.In Cambodia, the property’s orientation does matter to a degree but overall the climate is very different to Europe for example.If a property buyer is choosing a property for living or investment in the Kingdom, they will need to consider the direction a home faces, but more so the design elements, circulation and surrounding greenspaces.Cambodia Real Estate: Choosing the Right Home in a Tropical ClimateCambodia is tropical, and yes that means mostly year-round clear blue skies, but the hot season which is generally coming to an end around now (March-June) can be very uncomfortable unless fans and air-conditioning are widely used.Cambodia's climate cycle is due to its geographic location of 11 and 16 degrees north latitude, a location that is north of the Tropic of Cancer resulting in a tropical climate with abundant annual sunshine yearly.Temperatures generally range between 25°C and 35°C, but there are distinct seasons; the rainy season from May or June and the dry season usually starts in November or December and lasts until April or May of the following year.In 2024, since the start of April, daily temperatures have been sitting at sweltering highs of 37-40°C+, with relentless heat waves causing significant discomfort. It is usually hot but this has been extreme in Cambodia, as it has in Thailand, Laos and elsewhere.Chan Yutha, spokesman for the Ministry of Water Resources and Meteorology said that Cambodia is facing the hottest temperatures since records began in the 1850s! As such, the use of air conditioners, coolers, and fans operating non-stop has spiked electricity bills and reignited debates around environmental concerns, better city planning, and sustainable alternatives for cooler home temperatures in Cambodian cities in particular.Property Orientation In CambodiaOrientation isn't necessarily as important in Cambodia for a property unless specific sunrises and sunsets and natural light for working spaces are being considered, as the sun never sets too late in the Kingdom. However, means by which a property is kept cool and well-ventilated due to heat and humidity caused by the rainy and dry seasons are crucial.Generally speaking in Cambodia, homes oriented towards the west are exposed to direct sunlight during the peak heat hours of the day which can lead to an accumulation of indoor heat, elevated indoor temperatures and less overall comfort. West-facing properties may even have a lower price tag but buyers must balance their preferences and requirements.An east-facing house in Cambodia welcomes the early morning sunlight, while a west-facing home is exposed to strong sunlight in the afternoon to the early evening.A south-facing property will avoid direct sunlight for most of the year, and north-facing properties benefit from receiving less direct sunlight, resulting in a cooler indoor temperature.Key Considerations - Cooler Homers For Warmer ClimatesProximity to Water - The proximity of certain sangkats in Phnom Penh to the Mekong, Bassac, and Tonle Sap Rivers can mean higher priced properties as the locations tend to benefit from natural cooling as they are located to wider spaces of open water.Building Materials Used - When considering the building materials of a property, ideally heat-insulating materials will help keep a home cooler, although the layout can also play a part. Low-emissivity glass (or low-E glass) for example provides natural light while minimising heat gain in a living space.Ventilation & High Ceilings - Proper ventilation is a KEY and ensures a steady flow of air, natural cooling of indoor spaces and rising hot air to escape. For this reason, many properties will have a higher ceiling in Cambodia to support better airflow and temperature regulation. The design and layout need to allow for air circulation resulting in naturally lower indoor temperature and less moisture.Heat Management: Managing the abundant natural heat is essential and to buffer these design adjustments to mitigate warmth while enjoying sunset views, for example, needs to be considered in constructing or buying a property.Other factors such as the size of windows or glass doors that enhance a warming effect, the installation of shades, more greenery, and the placement of fans all play a part in cooling a home.Urban Green SpacesOne prominent trend has been the growing demand for green spaces in both residential and commercial properties especially in the cities and as buyers and citizens become more aware of the importance of the environment in their well-being.There has been an increase, for example, in the number of parks in Phnom Penh and more developments incorporating green spaces. This means there is greater demand for eco-friendly buildings, green infrastructure, and access to nature which can be seen as a positive shift in buyers' property demands.With the capital being the most expensive and most busy property market, Phnom Penh’s municipal government in 2024 announced plans to develop a leisure and entertainment area in Daun Penh which aims to cover approximately 57 hectares. Mr. Sam Piseth, Director of the Department of Public Works and Transport of Phnom Penh, emphasised that there will be green areas and outdoor lighting intended to improve the area's overall atmosphere.As part of this, a large recreation space is planned and a large pedestrian-only area and the entire project is due to start immediately and be completed before the end of 2025.

The Phnom Penh municipal government plans to develop a leisure and entertainment area in the district of Daun Penh. The new development will encompass shops, restaurants, hotels, and a bar street, all spread across approximately 57 hectares.The development is planned into three zones:Zone 1 (Food Street and Shopping Area): Located in front of the post office, this bustling zone is bordered by Street 94 to the north, Street 106 to the south, Street 13 to the west, and Sisowath Quay to the east.Zone 2 (Entertainment Area): Positioned between Street 106 and Street 184, with Street 13 and Sisowath Quay.Zone 3 (Recreation Space): By Street 184, Sihanouk Boulevard, Street 07, and Sisowath Quay. Scheduled to start in early May 2024, the project is aimed to be completed before the New Year 2025. Once completed, Pedestrian Street will be open from 6 PM to 11 PM, enhancing Daun Penh's appeal as a destination for evening entertainment and leisure activities.The development of the Daun Penh Pedestrian Street project in Phnom Penh is set to bring benefits both to locals and tourists to the district and the city's appeal.The pedestrian street will likely increase foot traffic, which can significantly benefit local businesses such as restaurants, cafes, shops, and markets in the area.Moreover, according to Mr. Sam Piseth, Director of the Department of Public Works and Transport of Phnom Penh, the area will be enhanced with green areas and outdoor lighting which also will improve the area's overall atmosphere.Daun Penh is one of the central districts in Phnom Penh, and it holds historical significance. Located on the the banks of Tonle Sap River, it was named after the legendary figure Lady Penh (Grandmother Penh), who is said to have founded the city during the 13th-14th century, the area occupies an important place in Cambodia's history. This district is not only a hub for many of Phnom Penh’s businesses but also serves as a cultural and historical centre. Major landmarks in Daun Penh include the Royal Palace, the Railway Station, the Central Market, Wat Phnom, and the National Museum of Cambodia, to name just a few. These important monuments make Daun Penh a highly visited area by tourists and locals. When it comes to living, Daun Penh offers unique properties such as colonial-style apartments, renovated shophouses, and buildings.  The Daun Penh area is vibrant, with Sisowath Quay being a particularly popular spot where many gather during the weekends. Overall, the development of the Daun Penh Pedestrian Street project stands to offer benefits by enhancing the livability of Phnom Penh, promoting tourism, and stimulating economic growth.

The south of Cambodia’s capital Phnom Penh is seeing some of the most drastic investment and urban change, much of it aligned to the potential opening of the new multi-billion dollar airport opening in 2025. With new condo developments and the retail landscape radically transformed, as well as new infrastructure including bridges, overpasses and road networks designed to open up the city’s southern corridor.Cambodian Prime Minister Hun Manet said in 2024 that the southwest will become Cambodia’s logistics hub due to the construction of ring roads, the existing expressway linked to Sihanoukville, the proposed Techo Funal Canal as well as the new airport.New Phnom Penh Airport - Techo International AirportThe first phase of what is due to be one of the biggest airports in the world when completed, is due by the end of 2024 or early 2025. The ambitious development is due to be operational in 2025 allowing bigger aircraft to reach the Kingdom and hopes that more international and regional routes will boost tourism numbers to the Kingdom.Although the airport is located 30-40 km south of the capital and occupies an area of 2600 hectares outside of the city centre in Kandal province, it has resulted in many projects being announced to better connect the logistics hub to Phnom Penh, with an increase in land prices, property projects and of course roads and interconnectivity. The 4F-class airport has a development price tag of approximately USD $1.5 billion.The group behind the construction is the Cambodia Airport Investment Co. (CAIC) - a joint venture between the Royal Government of the Kingdom of Cambodia (RGC) represented by the State Secretariat of Civil Aviation (SSCA) and OCIC (Overseas Chinese Investment Company).According to at least one media report, OCIC has also reserved 1,200 hectares of land on both sides of the 60-meter avenue (Samdech Hun Sen Boulevard) leading directly to the airport from the south of the capital for urban development land, 600 hectares kept for lakeside land to be developed into a tourist and leisure resort, and 500 hectares of land as an industrial park development area. Other proposed developments are a high-end yacht club on a 2,000-hectare lake and an 80-meter-wide canal to connect to the upcoming Techo Funan Grand Canal!Lagardère Travel Retail and HSC Group were appointed to manage the duty-free services at the Techo International AirportVINCI Airports will manage the new airport after signing an MoU in 2024.New Property Developments - Phnom Penh SouthUrban Village Phase IIUrban Village Sky Prime Tower is stunningly 225 meters high and is located in south of Phnom Penh, along Samdech Hun Sen Boulevard.The development comes from Goldframe Group, a well-known developer in the capital and this will be the tallest building along the major road to the south of the city.The 790,000 sqm residential development is part of Urban Village Phase II and offers a podium viewing deck with a panoramic view of the Bassac River, and will provide a creative hub as well as amenities such as a swimming pool and gym, restaurants, cafe, mart, as well as a school, cinema and co-working spaces.Singaporean Sir Stamford Raffles Group (SSRG) -  Cambodian Property DevelopmentSSRG announced that they plan to build a townhouse resort project over 22.6 hectares (approximately 35 to 40 football fields say some reports) located near the new international airport of development called Marum Estate. The project broke ground in October 2023.The luxury mixed-use development will be built over eight phases and final completion is due in 2030, with the development home to over 600 landed residences and 250 shophouses as well as an assortment of retail, healthcare and educational facilities.SSRG co-founder Phebe Len told fDi Intelligence, ”Our studies showed that Kandal Province is the next commercial destination, very much affected by the new airport only a 30-minute drive from us. When there is such a super infrastructure like an airport everything else will follow, such as highway connectivity in and out of a city. So we are kind of smack in the middle of that area.”Malls and Retail Therapy - Phnom Penh SouthMean Chey Avenue Community Mall was designed as a lifestyle destination and is located along the popular and competitive Samdech Techo Hun Sen Boulevard (60m Avenue).It is one of several larger community malls in the area but megamalls such as AEON3 (Meanchey) and Chip Mong 271 combined supplied the market with 140,000 sqm NLA in 2022 which represented 57% of the total retail NLA supply that year!Development Of Phnom Penh’s Transport NetworkThe new road connecting Samdech Blvd on National Road 2 to the airport, which is 60 meters wide and 13.5 kilometres long, is already open, while Ring Road Number 3 and Ring Road Number 4, as well as other road systems, are being developed, some as part of the airport development costs.There is also the ongoing construction of new flyovers as Phnom Penh grapples with urban sprawl and is learning how to build flyovers in some cases the option to retrofit existing infrastructure. The main project is connecting the Hun Sen & Monivong boulevards and the Royal Cambodian Armed Forces (Street 271), called “Morodok Techo Interchange”.The existing Hun Sen Blvd (which is 60 meters wide and nearly 10 kilometres long connecting Street 271 in the north with National Road 2 in the south) and Mean Chey Avenue are also open and have led to several residential and retail developments being undertaken including Mean Chey Residences.The Morodok Techo Interchange is under development over three tiers with the final part due to be completed in April 2025.The Cambodian Prime Minister also met US logistics firms, inviting them to consider developing Cambodia's areas as a logistics hub which would include the area by the new airport as a logistics hub.Possible Rail NetworkAlthough it has been discussed for as long as a decade, a Chinese firm, China Metro Group, is conducting another feasibility study for a light rail development project which would potentially connect the Techo International Airport to the Phnom Penh centre.Bridges Connecting The CapitalChak Angre - Prek Pra Bridge (over the Bassac River)The Chak Angre Krom-Prek Pra bridge has a long way to go, and at the time of writing is less than 10 per cent complete but it was only announced in late 2023.It is one of several ongoing bridge projects in Cambodia and will span from Chak Angre (which is located in the Meanchey district) to the south of the city, and across the Bassac River to Prek Pra (which is located in Chbar Ampov district) and aims to relieve traffic while connecting the two developing areas of the capital.The bailey (or truss) style bridge, when completed, could be 845 meters long and divided into 4 traffic lanes at an estimated cost of approximately USD $60 million.Funan Techo CanalThis massive project in some ways underpins all of the logistics ambitions and the proposed Funan Techo Canal is estimated to cost about USD $1.7 billion and would take at least four years to complete and will see a number of additional roads, canals and localised bridges and riverports constructed.In total, this project would extend over 180 kilometres, linking the Mekong River’s Takeo Canal to the coastal province of Kep, passing through four provinces - Kandal, Takeo, Kampot, and Kep - unlocking economic development by allowing for access to resources, trade, and transportation.