In the Kingdom, traditionally there are three major classifications of land titling namely hard title, soft title, and strata title.  Each different title confers different rights and securities to landowners. Now there is another land title known as the LMAP title- which is the strongest form of land title in Cambodia.Last week in part 1 we examined what an LMAP title is and the benefits for landowners in obtaining one. This week in part 2 we will take a brief look at the issuing of LMAP, associated fees and the status of the LMAP titling throughout the nation thanks to Realestate.com.kh.Issuing LMAP titles and associated fees:In general, the issuing of LMAP title is the responsibility of the Ministry of Land Management Urban Planning and Construction (MLMUPC) with no specific service fee to be charged for the LMAP title itself. However, if you apply for LMAP, you will still have to pay the transfer tax which is generally around 4%, that is applied when obtaining a property title.If you are interested in learning more about land titles and how they subsequently work, please check out our article: land title transfer process in CambodiaIn addition, if you are required to pay property tax, or other taxes (which is dependent on the area your land is in), for example- annual property tax, you need to pay all those taxes before the LMAP title can be issued.LMAP title availability:Another major factor to consider is that the LMAP titling process is yet to be completed throughout the entire country by the MLMUPC. This process involves GPS coordinates being ascribed to every land plot in the country, with the result being a cadastral index map showing land boundaries and land registration data.  At present, it is estimated that 80% of LMAP titling of land plots has been completed.This gives rise to three possible scenarios;-    Firstly, if the MLMUPC is presently undergoing the necessary LMAP titling process in your village or area where you live in, this means you only need to follow what your local authority informs you to do once the project is completed. It is their obligation to communicate with you.-    Secondly, if LMAP titling has already been completed in the area that your land resides in, and you have not applied for the title- do not worry, this can always be applied for a later date.-    Finally, if the area your land resides in hasn't been subject to the LMAP titling process by the government, unfortunately, you cannot apply for an LMAP title. However, you can apply for a hard title in the meantime. This is the strongest form of land title, after LMAP and will still give you legally enforceable rights over your land.Look out for part 3 next week where we take a step by step breakdown of the actual application process for the obtaining your LMAP title and all the documents you will  need.If you missed part 1, make sure to check it out on Realestate.com.kh/news.

Following an announcement by Borey Peng Huoth Group in July 2017 regarding the development of a mall, namely PH Diamond Mal,  which is to be constructed in the Chak Angre Krom commune in 2019, the developers have officially announced a second, larger-scale mall project- PH Eco Mall estimated to be completed in 2021.In comparison to PH Diamond Mall, which will span over 2.4 hectares, PH Eco Mall will span over 6 hectares of land. The new project will be built in the Grand Star Platinum Project within the Boeung Snor Area of Borey Peng Huoth along National Road Number No. 1, 2 kilometers from Preah Monivong Bridge. The project is worth an estimated total of $200 million.Oknha Thai Mengly, CEO of Borey Peng Huoth Group, said that the PH Eco Mall project will be a groundbreaking project and will provide both national and international customers with a premium shopping experience- especially considering the shopping mall is prioritizing creating an eco-friendly and fresh environment for shoppers.In addition, this shopping complex will incorporate the traditional Khmer style by integrating Khmer culture through popular and modern lifestyle amenities.The mall itself will cover 26,800 square meters of land, solely dedicated to the mall building, and a further 90,000 square meters available for rent- as well as an abundance of parking space, which can hold up to 5,000 cars and motorcycles.The PH Eco Mall will make the developer’s existing Grand Platinum Project become a more modern and enriching hub, adding to international schools that have operated since the mid-2017. Find out property for sale in Cambodia on Realestate.com.kh

In the Kingdom, traditionally there are three major classifications of land title which are utilized throughout the country. The ownership titles are namely, hard title, soft title, and strata title (enabling for foreign ownership within condominiums- subject to certain conditions). Each title confers different rights and securities. Now there is another land title, known as an LMAP title available and can be classified as a form of issuance of land title for property purchasers and owners.In order for you to understand the relatively new concept of the LMAP title, this week in part 1 we explore what an LMAP title actually is, the benefits and will begin to explore how these will apply to you, thanks to Realestate.com.khWhat is an LMAP title?A titling system, called LMAP (Land Management and Administration Project), is a certificate of land title. It is a project that was first introduced in Cambodia in 2002 by the World Bank after government approval, with the goals of improving land tenure security through registration and issuing titles- particularly for vulnerable property owners. The Ministry of Land Management Urban Planning and Construction (MLMUPC) is the implementing agency in the Kingdom for this process.What are the benefits of an LMAP title?LMAP is the strongest, safest and most updated type of land title- due to the face that GPS coordinates are in the process of being registered for all land plots in the country.Prior to the LMAP title establishment, the MLMUPC had a major need for dispute resolution processes for land titling, due to lack of clarity regarding the boundaries and other contentious areas of land ownership. Ultimately the goal of the MLMUPC is to establish a land administration system which is both efficient and honest.For landowners who now possess an LMAP title, this means their plot of land has been clearly measured by the relevant cadastral officials, the borders of their land are agreed upon and thumbprinting has taken place- which adds a layer of security to property ownership.The LMAP title can effectively give the property owner certainty regarding all aspects of their property and is a tool for preventing conflicts such as boundary dispute and between property owners in the future. Further to this, LMAP is a 100% legal title for hard title owners to obtain.Look out for part 2 next week where we take a step by step breakdown on how to apply for LMAP title, relevant fees, and answers to answer some key questions on the LMAP titling process.Looking to learn more about how land titling system works in Cambodia? Check out our complete Cambodia title  overviewInterested in investing in land, take a look at ourland for sale in Phnom Penh available

Amid rising property prices in central Phnom Penh, many developers have sought new options for hosting their residential development projects. Por Sen Chey - the largest emerging district - has, therefore, become an attractive choice for developers to build low to mid-end residential projects, due to the area's comparatively low land prices - see Realestate.com.kh's How to invest in land for sale and maximize your profit for more information.Covering the majority of the western part of Phnom Penh and located approximately 10 km southwest of the city, Por Sen Chey district is the largest of all 12 districts of Phnom Penh and home to an estimated 184,000 residents.Por Sen Chey is administratively subdivided into 11 communes (Sangkats) namely; Chaom Chao, Kakab, Kantork, Snao, Trapeang Krasang, Kambol, Phleung Chheh Roteh, Samraong Kraom, Boeung Thum, Krang Thnong and Ovlork..According to the latest Housing Market and Outlook Report 2017 by Vtrust Appraisal, Por Sen Chey has seen a remarkable increase in borey and other residential projects since 2001. The area has 94 major developments and 111 smaller- scale projects currently being constructed, with 58 of these already completed. These projects, once completed, will amount to a combined total of approximately 30,000 available units. However, so far there are 16,000 units already completed- while more than 3,500 units are expected to reach completion within the first half of 2018.Mr. Hoem Seiha, the author of the report, said: “Por Sen Chey has experienced rapid growth over the preceding years in terms of both residential and industrial projects. With such a high population density, the area has more factories and residential projects than any other districts in Phnom Penh."Mr. Hoem continued: "Many low to mid-end residential projects have moved to the area thanks to the multitude of available large land sections that can be used for new development."“However, with the influx of residential projects, land prices in the area have increased sharply. In general, land for sale in Por Sen Chey grew 31 percent year on year between 2013 and 2015, whilst, the two bustling communes of Chaom Chao and Kakab grew approximately 10 percent or less each year," Mr. Hoem added. He further believes that the lower annual increase of price in these two key communes was due to the fact that prices were already high compared to the rest of Por Sen Chey.In addition, Mr. Hoem explained that in terms of land values and major business prospects, Kakab and Chaom Chao stand out due to their strategic locations- such as their coverage of prime streets which are ideal locations for businesses to establish.Kakab commune is immediately adjacent to Teuk Thla, part of the immensely popular Sen Sok district, while Chaom Chao is in the direct path of Phnom Penh International Airport and covers some parts of the capital’s arterial roads, namely Russian Boulevard, National Highway 3, and National Highway 4.Although Kakab shares a similar market value as Chaom Chao, the commune’s close proximity to central business hubs in the capital makes Kakab stand out comparatively in terms of land prices and commercial demand.Land prices in Kakab commune continue to grow at approximately 10 percent annually, with prices ranging from an average of $380 dollars per square meter in 2013 to $490 per square meter in 2016. However, in undeveloped areas, low prices such as $70 per square meter can be found-  but can peak up to $2,080 per square meter along prime streets and in bustling commercial hubs, according to Mr. Hoem's report.Commenting on Por Sen Chey’s residential project growth, Dr. Kim Heang, President of the Cambodian Valuers and Estate Agents Association (CVEA), said: “Por Sen Chey is an area sandwiched between both Phnom Penh's center city and suburbs and many developers have selected to build residential projects priced between $30,000 and $70,000 dollars. This price range is most suitable for lower-middle income families, among whom are [for example] company staff and civil servants with a suitable salary.”Dr. Kim added: “Por Sen Chey's target market and residents differs from that of Sen Sok, which is predominately for middle-income families, while areas such as Toul Kork, Prampi Makara, and Chamkarmon are for families that sit within a higher income bracket".One development underway in the Kakab commune is Borey Suncity, a project launched in November 2017 and is expected to complete construction by mid-2020. Mr. Xu, General Manager of Borey Suncity, said: “The reason we chose Por Sen Chey to host our development is that the area is in close proximity to Phnom Penh International Airport- therefore more easily connected to the world and residents will have ease of accessibility with the metro line opening in next April.”Mr. Xu added: “Our project will be a great success, thanks to its’ location in an area with perfect infrastructure- suitable for long-term living. Cable burial has been completed and roads are in good condition. Nearby are surrounding facilities including Korean international schools, healthcare centers, and Parkson shopping mall. Mr. Xu added that he is looking to target mainly local investors for his project.Por Sen Chey district invariably is rapidly developing which can be in part due to the influx of newcomers in search of job opportunities within Phnom Penh. With developer interest in the area rapidly rising, and relatively inexpensive plot-land still available in many of the communes, it is likely that this district will continue to flourish at a rapid rate in 2018.Looking for  property for sale in Por Sen Chey or property for rent in Por Sen Chey on Realestate.com.kh!

The development of high-end residential projects has been a priority of both local and international developers alike over the preceding years, with a host of condominium and big-budget Borey projects concentrated within prominent central areas of Phnom Penh.However, according to local real estate experts, 2017 as a whole has seen a major shift in demand- from luxury residential developments, towards housing that is more affordable for those in lower-middle income brackets and in particular the local market - see Realestate.com.kh's Government’s low-Cost Housing Policy for more information.Meanwhile, these experts are optimistic that this shift in demand that has risen drastically in 2017 will continue to flourish in 2018 and proceeding years. Therefore, developers who have already recognized and responded by constructing more affordable projects are more likely to achieve success in their developments.Hoem Seiha, Director of Research of VTrust Appraisal, has recently released The Housing Market & Outlook Report 2017. The report states that the Kingdom's property market in 2017 performed well- especially low-price housing projects- while the higher-priced developments decreased in both launches and sales.Discussing his report further, Mr. Hoem said: “Due to slow demand for luxury housing, developers have shown interest in the local market and responded by supplying housing priced between $30,000 and $60,000. For example, Borey “New World” is only priced in the $40,000 to $60,000 price bracket. This price range is the most popular among middle-income families- especially those who have recently married.”He continued: “Every year there are many new couples who need housing to work and live in Phnom Penh. These [recently] married couples cannot afford housing priced more than $60,000 dollars.” Therefore Mr. Hoem believes that housing options that are under this price threshold are the only options for these newly established families.Echoing Mr. Hoem’s view, Mr. Cheng Keng, Chairman of Cambodia Properties Limited (CPL), said: “Over the past few years, developers have focused on luxury housing priced over $80,000, but now demand for this type of housing has slowed. Mr. Cheng believes that the majority of the Cambodian people sit in the middle-income bracket and believes that now is the right time for developers across the board to focus on affordable housing developments. “By doing so, they will stand a high chance of a success for their projects,” Mr. Cheng added. In the “Consumer Sentiment Survey” conducted by Realestate.com.kh, which was the largest real estate survey to be conducted in the Kingdom, responses from over 5000 international and local respondents regarding buying power and affordability, reinforced the views of Mr. Hoem and Mr. Cheng. One particular example is that in terms of buying power, more than half of the survey respondents (67%) had less than $70,000 dollars to spend on a property.Further to this, when individuals were asked “How affordable is housing in Cambodia?” 34% of respondents referred to the local property available as "moderately unaffordable”. and 28% stated “affordable”-’ with the remaining respondents believing the housing markets to be moderate to very affordable.The inference made from these survey results and further analysis is that property in Cambodia is generally affordable for international residents and investors whereas it is still seemingly unaffordable for Khmer nationals.In light of this shift in demand, many developers have already begun constructing more affordable developments to adapt to the needs of the local market. One example of this is Borey Maha Sen Sok, one of Creed Group’s biggest residential development projects in Cambodia, which is among one of the most successful projects targeting middle-income families.Ms.Cheng Sokha, Deputy Sales and Marketing Director of Creed Group, said: “Borey Maha Sen Sok started in early 2016 and is expected to be completed by the end of 2018. Our project starts with $49,500 dollars and has proven very successful with 95 percent of the project being sold out”. Ms. Sokha believes the Creed Group has seen the demand for affordable housing amongst middle-income families, which was the purpose of the developer's launch of the project.Cambodia’s total population is expected to increase from 15 to 19 million between now and  2030 and in Phnom Penh and its urban areas from 4 to 7 million- with 800,000 urban homes estimated to add to current housing stock. This prospective population increase solidifies the true extent of the demand for affordable housing.Mr. Chea Sophara, Minister of Land Management, expressed support for the creation of more affordable housing to address the capital’s rising population figures. During the National Housing Forum held in June 2017, Mr. Chea said: “The Ministry of Land Management, Urban Planning and Construction (MLMUPC) is paying more attention to seek ways for providing affordable housing for lower-middle people across the nation to obtain housing with comfort, dignity, and safety.”The MLMUPC is working with the Ministry of Economy and Finance to establish affordable housing prices and incentives on tax and regulation in order to encourage the private sector to shoulder the task, according to Mr. Chea.Ultimately, it is undisputed that the demand for affordable residential housing in Phnom Penh is a trend that will continue to grow throughout 2018, and the following years. With the expectation of a large population increase, support from the relevant Ministry departments, and developers already tailoring their developments with affordability in mind, it is likely that more families will have the opportunity to enter the residential property market in the years to come.Click here for current  properties for sale in Cambodia and current properties for rent in Cambodia

Purchasing a new home is one of the biggest financial decisions you will make and one of the most critical assets you will acquire in your lifetime. Therefore, making a decision of such gravity requires a large amount of initial thought, comprehensive planning and forward thinking. One of the major considerations that you need to take into account is whether you require a home loan - and, with such a variety of current and emerging banks in Cambodia, it is important that your home loan provider is trustworthy and reputable in the market. These qualities - amongst many others positive traits - are exemplified by PPCBank.Why Choose PPCBank as Your Home Loan Provider?Phnom Penh Commercial Bank (PPCBank) has made its first step in 2008. After changing shareholders to Joint Venture of Jeonbuk Bank Co., Ltd and Apro Financial Co., Ltd, in 2016Mr. SHIN Chang Moo took on the role of PPCBankPresident.  The combination of expertise from an already thriving bank in South Korea and a clear vision to be “the best financial retail group” in Cambodia has resulted in PPCBank's success and continuous growth from day to day. A bank with experience is critical when choosing your home loan provider.PPCBank also genuinely cares about their current and prospective customers needs. This is reflected through their clear focus on customer service. Even the PPCBank logo embodies this ethic, featuring the Chinese symbol meaning ‘people’. PPCBank strives to cater for all ages, demographics and income brackets and make the home loan process simple for all.Loan Terms:With a PPCBank home loan you can borrow up to 80% of the value of your chosen home (or up to USD 200,000); with up to a 20-year repayment term. The process is administered with speed and competitive interest rates starting at as low as 0.65% per month.Conditions & Requirements:Every home buyer will have different financial needs and loan requirements. However, having additional savings and funds of your own available prior to applying for your home loan is important. This will enable you to easily pass the initial stages of your home loan application and ensure you have the necessary deposit amount.Below are the conditions and requirements needed in order to apply for a home loan with PPCBank:●   Complete a loan application form (obtainable from any PPCBank branch);●   ID Card or Passport (copy),●   Family book or Book of Residence amortization (copy),●   Guarantor's for the loan (name, phone number and signature)●   Letter of confirmation of your employment & remuneration from current employer and any sufficient income that warrants your ability to pay back the loan ;●   Permanent residential address in Cambodia;●  Repayment mode: This can be in installments or through amortization. There are also the options with an available grace period(first 2 years) and partial payments. PPCBank is happy to discuss the best mode of repayment for your needs.●    Collateral in the form of  land and building.●   Letter of offer confirming the purchase price of the house and a copy of the state lease;It is advisable that as soon as you find a property that suits your needs, you ask for the necessary proof of ownership from the current owner. A copy of the hard title is one of the key documents that you will need possession of to ensure that you have a legitimate right to the land. If your proposed property is  off-plan or currently under construction, make sure that the developer/seller writes you a ‘Letter of Sale’ indicating the amount that they will sell the property to you for. You should also write a Letter of Acceptance to the developer/seller showing your acceptance of the offer. Those two documents, together, show a legally binding contract between you and the seller of the property; and having these documents assembled will accelerate the processing of your home loan application.Additional costs:Whether you are purchasing an existing property or one that is off-plan, there are always costs that are associated with being a homeowner that extend beyond the price of the house itself. There are basic costs associated with the transferring of the property and even once you have obtained ownership, maintenance costs and potential renovations are also financial factors to be considered. Therefore, it is critical that before you obtain your home loan you think about your purchase as a whole as a  long term investment.Consultancy services:Although the prospect of obtaining a home loan may seem overwhelming - with the body of paperwork involved and the forward thinking involved with repayments - this is not a process you need to go through alone. PPCBank has a renowned and cost free consultancy service which will guide you through every step of the home loan process. From acquiring the necessary documentation, to finding a repayment scheme that works for you - the team at PPCBank will ensure you find a financial solution that is ultimately sustainable and right for you and your family.When you are ready to consider a loan more seriously, we can even put you in touch with Cambodia’s leading lenders

The relationship between China and Cambodia is one that has proven to be a catalyst for Cambodia’s economic growth over the preceding years. This is largely due to China’s dominant and ongoing economic contributions and close political ties between the two nations.In an announcement at the end of November, two major Chinese property and construction  firms have pledged a capital investment of 7 billion USD in Cambodia's infrastructure, tourism, construction and financial sectors. This statement followed discussions in Beijing between Cambodian Prime Minister, Hun Sen, Mr. Cheng Risheng, Chairman of Henan Transport Investment Group and Mr. Zhang Yuling, Chairman of Greenland Holding Group.The proposed new projects include an expressway between Phnom Penh and Sihanoukville, the construction of another satellite city and the establishment of a tourism center and a new nationwide commercial bank.Foreign direct investment (FDI) continues to be one of the most important pillars of the Kingdom’s economy. As a result of two decades of consistent economic growth, Cambodia’s economy lifted from a least-developed country status, into the bracket of lower-middle income nations such as Vietnam and India.China has been Cambodia’s biggest source of FDI, with over 14 billion USD invested across multiple sectors between 1994 and 2016 and many more projects in the pipeline- particularly in terms of construction and infrastructure.These new projects are further to other Chinese funded initiatives taking shape, including a further 124 billion USD investment to be injected into the One Belt One Road Policy, which will develop nationwide infrastructure and expand trade links between China, Asia, Africa and Europe once completed.The establishment of the Sihanoukville Special Economic Zone was also funded by a 3 billion USD investment by China and presently hosts over 110 companies and corporate entities and once completed will have produced over 30,000 jobs.The generation of employment opportunities was one of the key motives behind the announcement of the new projects in late November. In a statement released by the government, Prime Minister, Hun Sen welcomed these projects, which he will believes will be critical for the Kingdom’s economic development and will create an estimated 20,000 jobs once construction commences.A series of formal agreements will follow this announcement, outlining the investment scope and how these projects will take shape, prior to the planned visit of China's Prime Minister, Li Keqiang in January.  Find out the best real estate news on Realestate.com.kh

Song Saa Collective, a company renowned for their luxurious hotel resort developments on Song Saa Private Island, Sihanoukville, has plans in motion to establish an eco-tourism city in Banteay Srey district in Siem Reap. The company has announced an initial investment of 3 million USD to purchase 400 hectares of land from locals residing in the area to host this initiative - see Realestate.com.kh's Chinese Tourism: A New Catalyst for Cambodia’s Real Estate Boom for more information.  In an article published on Ministry of Environment website, His Excellency, Say Samal  Minister of Environment, gave his approval of the project and encouraged any company which can aid the Government in creating more jobs for Cambodian people, whilst help conserve natural resources without an adverse impact on the environment.Rory Hunter, Director of Song Saa Collective, elaborated on his vision for the eco-tourism city, stating that he ensured one hectare of the project had a surrounding natural lake to help conserve the animals in the area. Mr. Hunter hopes that over the next five years his company’s  project would be developed with ease-  creating more jobs for people living in an area which is yet to see any industrial development.Once completed, the project will comprise of hotels, villas, schools, religious centers and other natural resorts. It is anticipated that the project will help attract more tourists; both domestic and international to visit the province- which is typically solely renowned for it’s historic Angkor Wat temple complex.Mr Mario Tan, Sales and Marketing Director of Hunter Estate commented on the benefits of the project stating: “The project will help attract more foreign tourists - especially Chinese to visit Siem Reap. Tourists visiting our neighboring nations Vietnam and Thailand usually stay longer in those countries because they have more tourism destinations compared to Cambodia.”Mr Mario continued: “When Cambodia has more resorts- especially in Siem Reap, the nation is able to compete with its’ neighbors, resulting in attracting more tourists to stay for longer periods. Ultimately, more tourists, for longer periods of time will have a majorly positive effect on the local economy”Tourism is considered one of the four major pillars supporting the Cambodian economy. In 2016 the Kingdom received over five million foreign tourists, including 830,000 Chinese and accumulated gross revenue of $3.4 billion, according to the Ministry of Tourism statistics.Increasing Chinese tourism is a major goal for the Government with the establishment of the  “China Ready for Cambodia Tourism” policy which aims to attract two million Chinese tourists to enter the Kingdom each year by 2020. Therefore, Cambodia needs to develop more tourism sites - such as the proposed eco-tourism city - to stimulate the growth of tourist arrivals each year and reach these targets.Please read our Siem Reap Location profile on Realestate.com.kh! Search properties for sale in Siem Reap and current properties for rent in Chroy Changvar!

While real estate sector in Cambodia keeps prospering, demand for furniture and kitchenware is also on the rise. In response to rising demand, RCD Kitchen Cambodia came in and bring all kinds of kitchenware, furniture and wardrobes products to the kingdom.RCD Kitchen Cambodia is among the largest company in Cambodia providing high quality products with free installation service for normal residence or Condos. With 45 year experiences in Thailand, our company has operated in Cambodia for two years bringing in new skills to local staff.The company has the largest production site in Thailand and all products are manufactured in accordance with ISO 9001-​2008. The most interesting thing is that all staff in both Thailand and Cambodia are well-trained to serve its customers.Furthermore, the company also imported well-known kitchenware products to Cambodia such as Cattelan, Bodema, Lago, and Cesar Italian.All products are priced from $850 to $10,000 dollars to serve rising demand for Cambodian household in need of them.We focus on quality and make sure that we offer the best products and services to our customers. Moreover, we also cooperate with international firm providing  Blum & Hafele brand.Our company always offer confidence and good service to customers, striving to find new products to serve them.You will get free consultation from us for the design of your kitchen by just showing this article to our staff.  RCD Kitchen Cambodia is your best choice for kitchenware and furniture products.Find out the best real estate news on Realestate.com.kh

As Phnom Penh’s real estate development continues to boom, interest in land and residential property within the city’s suburbs has risen accordingly. Chroy Changvar, nestled in Northeast Phnom Penh and running alongside National Highway No. 6A, has proven to be a hot spot in this regard- in particular for families looking for a lifestyle of convenience, with ease of access to solid infrastructure.A host of borey projects in Chroy Changvar have emerged over the preceding years as developers have sought tracts of land to host their developments, to keep up with the area’s rise in popularity. Major projects include; Borey The Flora, Borey The Mekong Royal and Orkide Villa’s The Botanica, which marks the developer’s third project in this area.One of the main areas of appeal about Chroy Changvar is its’ strategic location and connectivity, with main highway access and direct routes to key provinces such as; Kampong Cham, Kampong Thom and Siem Reap. The two rivers running on both sides of the Khan also provide an eco-friendly and natural environment.Mr. Cheng Sothea, a customer who purchased a villa house in Borey The Mekong Royal, said: “Chroy Changvar is a great place for living because it has expansive roads without traffic jams, which is different from central Phnom Penh.” Moreover, Mr. Cheng believes that with several large projects in the pipeline- including a new stadium funded by China and the relocation of  Cambodia’s biggest zoo, that a large amount of growth is imminent in this area- and he is anticipating a positive return on his investment.Mr. Teng Rithy, CEO of Property Investment Realty Partner, commented on the area’s  development: “Chroy Changvar is a rapidly developing area and has already attracted many famous borey projects and large firms to invest in both residential and commercial projects.” Mr. Teng further believes that the developments in the area are luring the upper-middle and high income class to buy property, and that the area is developing into a hub for residential living, commercial offices and tourism.Mr. Yim Socheath, Director of CDN Property, agrees with Mr. Teng’s view on the target market of Chroy Changvar and believes that while most residential developments in other suburbs are designed to target lower to middle income families, residential projects in Chroy Changvar are specifically developed to target those in higher income brackets.“The area is developing faster, and in a much more civilized fashion than any other suburbs in Phnom Penh, with comparatively large and famous investment projects” Mr. Yim said.Mr. Yim explained that the price of land for sale in Chroy Changvar has risen substantially, estimating a 300 percent increase compared to four years ago. Land price within a two kilometer radius of The Chroy Changvar Bridge is estimated to be between $1,200 and $2,000 per square meter in residential areas, and between $2,000 and $4,500 in prime commercial areas.However, outside of the two kilometer radius, the average land prices demonstrate a dramatic drop to approximately $400 to $600 per square meter, and the prices continue to decrease with further distance from Chroy Changvar’s in demand areas.Mr. Yim believes the reason for the growth in land prices is largely due to the famous borey development companies that have flocked to the area already, and have bought large plots of land. “In fact, two large development projects in particular; Chroy Changvar Satellite City by Overseas Cambodia Investment Corporation (OCIC), and the collaboration of LYP Group and China Minsheng Investment Group to establish a second Satellite City, have played a fundamental role in attracting residential borey projects. These projects have been driving forces behind the land price increases” Mr. Yim said.In addition, OCIC also plans to build a new $35 million concrete bridge across the Tonle Sap River from the Sokimex gasoline station in Russey Keo, to the Prek Tasek Commune in Chroy Changvar.It is believed that the planned new bridge by OCIC will not only reduce traffic congestion when crossing the Chroy Changvar Bridge, but will also help drive land prices in the area to rise further.Ultimately, with sound infrastructure and a host of future developments underway in both commercial and residential capacities, it is likely that developers and investors will continue to flock to Chroy Changvar over the coming years allowing for the area’s true potential to be realized. For a detailed overview of Chroy Changvar, please read our Chroy Changvar Location profileSearch properties for sale in Chroy Changvar and current properties for rent in Chroy Changvar!

Mr. Teng Rithy, Founder and Director of Property Investment Realty Partner, has over 10 years experience in the real estate industry, and is well regarded as an authority on investment on the Kingdom’s booming real estate sector.During the Cambodia Real Estate Show 2 held on 6-7th October, 2017 in NagaWorld, Mr. Rithy delivered a seminar focused on giving practical advice to Cambodian’s seeking a sustainable home investment.Please see the full the video here!To begin with, Mr Rithy provided an analysis of the key areas of development in Phnom Penh.  He further highlighted the importance of following Phnom Penh’s 2035 Master Plan, in order to make a successful investment in the property market.  The announcement of the Master Plan was initially in October 2005 by the Governor of Phnom Penh, to highlighted the principal areas and development plan of Phnom Penh - and the plan is still anticipated to continue developing until 2020. Mr Rithy highlights the following key developments areas and their purposes  in Phnom Penh, based on the Master Plan, thus far:1. Preak Pnov: Facilities development and the development for the administration business area.2. Chroy Changva: Development of commercial, office and tourism work.3. Areyksat : To become an established entertainment center, and the development of jobs and necessary facilities.4. Boeung Kak: To continue to build commercial offices of international standards and improve tourism development in the area.5. Triangulation area: Focus on improving harbors, and becoming an area of potential for large scale developments.6. Chom Chao: The ultimate goal is to become the ‘service town’’, for the commodities of the business and working.7. Chbar Umpao, Boueng Snao:To become the forefront area of both commerce and tourism8. Takhmao, Chak Angrae: A prime area for work institutions and a focus on entertainment and lifestyle.Mr. Rithy believes that before making any investment in a particular area, it is vital that the prospective investor is aware of the relevant city's ‘Master Plan’, as it enables an informed investment in an area where future benefits can be reaped. Mr Rithy believes that an uniformed decision and disregard for these vital plans can lead to the failure of an investment.  From Mr Rithy's perspective, the development areas in Phnom Penh have so far followed the Master Plan. For example, LYP Group has already built LYP bridge and been developing other projects in Prek Pnov area- redeveloping the area into a transportation hub of Cambodia. Likewise, In Chroy Changva, Oknha Pung Kheav Se, a renowned “business tycoon’’ has been developing Chroy Changvar Satellite City, and other Borey projects have also been developing in that area.Furthermore, 111.6 hectares Phnom Penh City Center (PPCC) is being developed in Boueng Kok area and is set to become Phnom Penh’s Central Business District where modern business, innovation and international-standard infrastructure will meet.Mr. Rithy emphasised that every real estate investor must follow and  understand and follow the city’s Master Plan as he see’s it as ‘’the backbone of investment’.”If we do not follow Master Plan, our investment is doomed to failure. For example, if you want to build a 30-storey condominium and buy land in the area that there is a height restriction for the building, this means that you are investing in the wrong location and will face trouble with your investment.” Mr Rithy stated.He continues: “For home buyers, If you buy a residential project, you should look for renowned developer building a project which can provide a ‘’one-stop’’ living environment with facilities as; schools, hospitals, banks, markets, offices, restaurants and gym etc, onsite or in the area.  Some developers do not focus on these facilities which is a reason why their project is not a success and there are not many clients interested in their project”As a developer, before construction of a residential project, Mr Rithy believes the focuses should be on the environment (fresh air), safety (quality of building) and facilities such as; big gardens, swimming pools and easy water, electricity, and sewage system. Good management and economical efficiency are critical factors as well. “Sustainable home living means that you can live in that home for a long time- and with pleasure”. according to Mr. Rithy.  One project that Mr. Rithy has been directly involved with is The Mekong Royal project - located along National Highway 6A. Mr. Rithy stressed that this project achieved success because it focused on all these factor and creating a development with an ecosystem of features for residents. So far, The Mekong Royal has sold 95 percent of its units.Commenting on growing plot land transaction trend outside of Phnom Penh, Mr. Rithy said: “Some plot land development is not in accordance with Phnom Penh’s Master Plan. For example, some locations are for industrial purposes but people use those areas to develop residential projects.”Mr. Rithy explained that in this case, the developers are not looking for a sustainable home investment. This is due to the reason that residents will not live a comfortable life in the area due to  more factory buildings, that make a lot of noise- which ultimately affects resident’s health. “The worst thing is that there will be no hospitals or schools in those areas since it is for industrial, not residential purposes” Mr Rithy concluded.Ultimately, for any developer and buyer looking to invest in Phnom Penh- looking at the Master Plan should be one of the first steps, as it enables the individual to be fully informed about the future of their area of investment, and develop or buy a project which will suits lifestyle needs in the long term- and allow for a return on the investment.Read more about Borey Buyer GuideSearch property fo sale in Phnom Penh and property for rent in Phnom Penh on Realestate.com.kh!

The  process of buying or renting business is often time consuming and may seem complex. However, by following a step by step process this can be simplified and help you ensure acquiring your new asset achieves your desired results.Last week in Considerations when buying or renting business property - part 1, we discussed about acquiring business property as a whole and the first steps in identifying the right business for you. This week we take a further look into identifying the right business for you and the role that real estate agencies and lawyers play in this process, thanks to Realestate.com.kh!Identifying the Right Business For You:One of the final steps that should been taken once you have specifically researched the type of business you would like to invest in, and have embarked on looking at the longevity of your investment- is maintaining an interest in the relevant market.Last week we used the example of investing a hotel business and how you will need to delve deeply into looking at your potential investments’; brand, reputation, duration of operation- among other factors. Once this specific research has been completed, the last step is keeping yourself fully informed about the property market going forward.This will mean proactively taking into account legal changes taking place, legal requirements, local and up-and-coming competition within the market. Make an effort to cast your eyes over real estate and business news, magazines, newsletters and website advice- these resources can provide definitive information and help solidify your choice of business property.Lawyer assistance:Generally if you buy or rent a large scale business property, this always requires good a lawyer. The lawyer will create all the legal documents, payment, and responsibilities. All these will  be set down in the heads of agreement at a point in the negotiations. The bigger contract - the harder it is. The Heads of Agreement is an important and useful stage in the negotiations process. It essentially condenses the key elements of a sale into a single document for both parties to see the agreement.Agency services:A good real estate agency is always crucial, as a buyer or a renter -especially if you are not sure about the market. When you come to agents, they can guide you towards the right property within your budget plan and to a preferable location.Ultimately, when it comes to buying or renting a business, doing your research and fully informing yourself about your prospective investment is critical. Enlisting the help of experts, lawyers and agencies are all ways to solidify your investment and it’s longevity.Interested in buying a business property? Check out the latest property for sale in Cambodia on Realestate.com.kh!

Surrounded by several potential development areas: Sangkat Boeung Kak, Sangkat Phnom Penh Thmey, Sangkat Khmuonh, Sangkat Krang Tnuong, and Sangkat Teuk Thla, Toul Kork is currently considered as one of the four developed areas in Phnom Penh joining Khan 7 Makara, Khan Chamkarmon, and Khan Daun Penh. Toul Kork is also known as “a fast-up-and-coming-area” in terms of both residential and commercial real estate development - see Realestate.com.kh article Houses for Rent in Toul Kork: Renter's Guide for more information!Mr. Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork is now considered the second most popular residential area after Beung Keng Kang 1 (BKK1) since this area has big houses, huge vacant plot land, and improved infrastructure.”“Recently Toul Kork has transformed itself into actual BKK1, showing great potential down the line because the area has bounded by new developments. Moreover, there will be a new thirty-meter wide road, which is underway on the old railway located between Toul Kork and Boeung Kak lake connecting Russian Boulevard to Sankat Russey Keo,” Mr. Sorn added.In regard to land price, Mr. Sorn said: “land prices in Toul Kork is relatively stable at the moment compared to other developed areas in the city. land price in Toul Kork has seen neither increase nor decrease over the last 2 years even though there have been a few significant price increases in 2014 and 2015, before the property market achieved its current stability. In any circumstances, the land price will never decrease, even though there are few buyers.”Mr. Touch Bin Beakna, Valuation Manager at Key Real Estate, said: “The most potential areas in Toul Kork are Sangkat Boeung Kak 1 and Boeung Kak 2.  Land price in the two areas can be divided into two parts: the land along the main road favorable for large-scale commercial purposes, and the land along the smaller road conducive to residential development such as condominiums, serviced apartments, and hotels.”“Along the main road No. 289, No 315, and No 337, land price averages between $2,500 and $3,000 per square meter while along smaller roads, land prices range from $1,500 to $2,000 per square meter,” added Mr. Touch.“Other areas in Toul Kork have less opportunity for future investment because the are is already fully developed with residential development and land price is remarkably high. Along the main roads such as Mao Tse Toung Boulevard, Phsar Depo road, and Oknha Tep Phan street, land price has an average of $3,000 - $4,000 per square meter while along the  smaller roads in Sangkat Phsar Depo 1, 2 and 3, Sangkat Teuk Laak 1, 2 &3, Sangkat Boeung Salang and Phsar Deum Kor, land price starts between $1,500 and $2,500 per square meter.”Key Real Estate is basically working in Toul Kork area and the company hopes to help both local and international buyers to be fully aware of the value of each type of property in particular locations, and especially offer them exactly what they need within their budget plan.For Mr. Sorn, Key Real Estate aims to sell the confidence first to the clients in order to give them better and more reliable quality service provided by our firm. With all the staffs being fully trained, Key Real Estate is one hundred percent sure they can utilize their knowledge and experience to serve their clients with the highest quality service.Key Real Estate has a vision to provide the best quality services for all property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector. Key Real Estate is your win-win partners!Read more article about Toul Kork Transforming Itself from Residential to Mixed-use AreaClick here for current properties for sale in Toul Kork and current properties for rent in Toul Kork

Asian Development Bank (ADB) has funded $950,000 for Environmental Infrastructure Project that will rehabilitate the area around renowned Crab Market (Phsar Kdam) in Kep province, according to Sok Sokhun, deputy general director of the Ministry of Tourism.During the recent groundbreaking ceremony held by the Ministry, Mr. Sok said: “ADB funded the project to further attract more foreign and local tourists to the coastal destination, and would be building a tourism centre, installing a drainage system and erecting a network of public toilet facilities. The infrastructure project will be completed by August of next year.”Kep is among Cambodia’s popular coastal tourist destinations along with Kampot and Sihanoukville and is also well-known for its eco-tourism. In September 2017, the Environment Ministry, a committee consisting of all Asean member countries, awarded Kep for the “Asean Environmentally Sustainable Cities.”Local real estate agents welcome ADB’s infrastructural funding in Kep. Sok Ken, the founder of Kampot Property, said: “infrastructural development in Kep will further make this coastal province more attractive for local and international tourists. Meanwhile, the project will help push land price surrounding Phsar Kdam to rise in value, a good news for local landlords.”At the same time, Mr. Mam Sereypanha, the CEO of Easy Property Investment, said: “Infrastructure development is very necessary for the new town such as Kep. ADB’s infrastructure funding in the province plays a vital role in improving the province’s development, especially tourism sector. Kep is similar to Phuket in Thailand or Bali in Indonesia because it has excellent eco-friendly environment, a popular destination for wealthy local and European tourists.”Search property for sale and property for rent in Kep on Realestate.com.kh!

Toul Kork, once an underdeveloped area, has become an attractive suburban area thanks to its continuous rapid developments. Over the last few years, there have emerged a number of big projects such as The Gateway, Parkson Mall and TK Avenue as well as Phnom Penh City Center (PPCC), the most well-known and largest mixed-use project in the area.All these projects are gradually transforming Toul Kork from residential to mixed-use area similar to Boeung Keng Kang (BKK)’s development model. Toul Kork, also known as a rapidly developing area, is becoming the next target for local and international investors seeking for a good return on investment after development in BKK is saturated.  Mr. Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork has become a popular investment destination for local and international investors and is now transforming itself from residential to mixed-use development area similar to what Boeung Keng Kang did 6-7 years ago.”“Recently, Toul Kork has seen many necessary facilities such as international schools, hospitals, malls, retail space, bars, restaurants, coffee shops, hotels, serviced apartments, and condominiums. And even if it has yet to have all amenities as much as BKK1, it’s no doubt Toul Kork will become the next BKK because its development structure looks almost the same as that of BKK, Mr. Sorn added.Two Sangkats in Toul Kork: Boeung Kak 1 and Boeung Kak 2, have recently become the most popular area, largely because the possibility of investment return is high compared to Boueng Keng Kang where land for sale in Toul Kork has reached its price cap.Toul Kork has more available big plots of land for development and land price is also not as high as that in BKK. The collection of amenities in Toul Kork which cater for local and international newcomers will attract more people to come, pushing the demand for more property and so the value of property in the area will automatically increase, according to Mr. Sorn.For those investors interested in investing in Toul Kork, they can contact local real estate agency Key Real Estate with over 10 years experiences in buying, selling and evaluating all properties in the area.The company has highly motivated and skilled staff with strong capacity and knowledge to serve the clients with the highest quality service. The company hopes to help both local and international buyers to be fully aware of the value of each type of property in particular locations, and especially offer them exactly what they need within their budget plan.Key Real Estate has the vision to provide the best quality services for all property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector. Key Real Estate is your win-win partners! Click here for current properties for sale in Toul Kork and current properties for rent in Toul Kork

The Gold Tower 42 development project is set to resume its construction in 2018 and finish in 2019, according to Mr. Kim Tae Yeon, general director of Yonwoo Cambodia Co, Ltd, who owns the project. The development has now been announced under a new title: GT 42.After Yonwoo’s signing ceremony of the reactivation of GT 42 in Phnom Penh with Chinese firm Shengzheng Hongtoao Decoration and Waiman Construction & Engineering (Macao China) on November 22, 2017, Mr. Kim promised that his company will definitely finish the project on time.In an interview with local media, Seng Load, spokesperson for the Ministry of Land Management, Urban Planning and Construction, said Yonwoo sent a letter to the MLMUPC in August stating that they would construct the building in the next six months, leading officials to believe that the development would be started earlier this year.“Nevertheless, I’m still not sure whether the promise will come to life or not. Please don’t be hasty in your publication, because this owner has issued the same statement numerous times already, but none of those statements have been realised,” Mr. Seng added.Gold Tower 42 was delayed during the height of the world’s economic crisis in 2008 and failed to resume its construction several times. However, the project has finished 32 stories of its building before it was postponed again.Mr. Hay Ravy, marketing and sales manager of Daily Realty Group, said: “it remains to be seen if the project will finish on schedule due to its delay history. However, if the project resumes and finishes on schedule, it will be another positive sign of Cambodia’s real estate sector because Gold Tower 42 represents one of the big projects in the Kingdom with a history that has left a shadow over the market. By rejuvenating this GT Tower 42, foreign investor confidence should rise.”If you are inInvest in the most renowned new development projects today, on Realestate.com.kh!

Over 2,000 people attended the 3rd Global Alumni Convention (GAC) on 17-18 November 2017 at the Sokha Hotel & Residence in Phnom Penh. The event is organised annually by IDP Education (Cambodia), a world leader in international student placement services.This annual convention series again brought together graduates from Cambodia, Australia, Canada, New Zealand, the United Kingdom, the USA, France, Russia, Korea, Japan, China, Malaysia, Singapore and others and provided them a forum to meet, share ideas and network with experts, decision makers and leaders from governments, the private sector, and civil society.The GAC 2017 featured three separate components – the Global Business and Education Forum, the Global Education and Career Expo, and the Global Alumni Reunion Gala Dinner.Officially opening the event, HE Prak Sokhonn, Senior Minister and Minister of Foreign Affairs and International Cooperation encouraged Cambodians to embrace the role as ambassadors of their nation with their achievements. “To my Cambodian fellows: At home, you are the symbol of hope and the key that would unlock our country’s potentials,” he said. “To the outside world, you are our nation’s ambassadors in your own humble ways and interestingly enough you need not report to me. You are our face, our fame, and our brand. You are the spokesman and salesman that the world would get to know Cambodia and her people through your lens. I trust these roles, whether you care to assume them or not, will remind and reignite you to always be the best you can be.”HE Dr Hang Chuon Naron, Minister of Education, Youth and Sport who gave the Keynote Address at the Global Alumni Reunion Gala Dinner said, “The Global Alumni Convention is a unique event which brings alumni, the government and industry together to discuss hot topics, network and share experiences. This event is an important symbol of the growth in Cambodia’s human resources.”Joining the minister at the opening ceremony, HE Ms Angela Corcoran, Australian Ambassador to Cambodia said, “The Global Alumni Convention is a really relevant event to Cambodia today, firstly, it brings a whole lot of education providers and different businesses so that Cambodians can look at those and see what their options are for education around the world. Secondly, it is an event that brings alumni together to network and to learn from each other which is really an important thing.”Also participating in the opening ceremony HE Mr Bill Longhurst, British Ambassador to Cambodia stressed the important role of education in the event saying, “The GAC will, I am sure, play host to discussions of many similarly exciting initiatives in the education field. I wish the convention and all participants every success in learning, networking and sharing their experiences”“The Global Alumni Convention was a great opportunity for members of different alumni associations to come together to share experience and information and develop a network with alumni from other corners of the globe,” said HE Mr George Edgar, European Union Ambassador to Cambodia at the opening ceremony.The Global Education and Business Forum hosted of a series of moderated, interactive Q+A panel discussions with topics focusing on Cambodia-related issues and more than 60 speakers taking part. Topics this year included:The Future of Agribusiness; Business Communication in the Digital Age; Domestic v International Business: Profit and Pitfalls; Attraction and Retention: Is there more to life than money?; Innovation-Driven Leadership; Cambodia’s Rising Stars; Trendsetters: The race for emerging consumer markets; Why is CSR good for business?; Rise of creative industries; Rise of intra-regional travel; Cambodia Property: Boom or Bust?; and Labour Mobility: Blessing or Curse?“The Global Alumni Convention again provided a unique opportunity and platform for alumni to gather, share experiences and leverage their knowledge with leaders in government, industry and civil society,” said GAC Convenor and IDP Education-ACE Country Director Mao Sreng.“It reflects the significant impact that alumni have on national human resource development and the recognition of it at the very highest levels of government and industry.” he added.The 3rd GAC attracted significant sponsors and supporters from the corporate sector, business chambers, alumni associations and media outlets. The GAC Secretariat thanks:· AIA (Cambodia) Life Insurance Plc. and IELTS as Platinum Sponsors;· ABA Bank and Australian Centre of Education (ACE) as Gold Sponsors;· The British Embassy, CPA Australia, ATHE Cambodia, Singapore Cambodia International Academy (SCIA) and Australian Migration Agents (AMA) as Silver Sponsors.· Sokha Hotel & Residence (Venue Partner), HRInc (Career Partner) and 360 Light and Sound (Light and Sound Partner)The Global Education & Career Expo ran in parallel to other activities of the GAC and showcased education and career pathways. Over 1,500 students, parents and the general public attended this free component of the event to visit more than 60 booths with 37 university representatives, local education institutes, scholarship programs, alumni associations and international businesses to seek advice on their future.“The Global Education and Career Expo gave students the opportunity to travel the world with us by talking to institutions from a variety of international destinations who helped them to consider what study abroad destinations might be right for them. We were very excited to welcome schools and universities from Cambodia, Singapore, Australia, New Zealand, the United Kingdom, Canada and the USA at the event” said Vantak Chheang, Study Abroad Manager at IDP Education (Cambodia).The Global Education & Career Expo also included a full schedule of panel discussions where over 40 employer, employee and institutional representatives presented on different education and career pathways in an interactive Q&A format.The GAC2017 concluded with a sparkling Global Alumni Reunion Gala Dinner attended by over 800 distinguished guests who also joined IDP Education in celebrating 25 years of operations in Cambodia.The GAC Secretariat looks forward to welcoming our sponsors, speakers and delegates back for the 4th GAC in 2018.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info...

Cambodia’s real estate sector growth is set to be pushed further through active efforts by the Government to increase the number of Chinese tourists entering the Kingdom. The second national forum on the "China Ready for Cambodia Tourism” policy initiative took place on the 31st October 2017.If you are interested in learning more information about the growth of Cambodia's tourism nationwide check out our tourism extract from our upcoming 2018 Cambodian Real Estate Foreign Investment Guide 2018 in Issue 5 of our Cambodia Real Estate Magazine. This white paper policy initiative aims to increase annual Chinese tourists visiting the Kingdom by outlining the initial steps to be taken by the Ministry of Tourism to facilitate Chinese tourism, including; encouraging the use of the Yuan currency, tailoring food and accommodation choices and providing Chinese signage and documents for visa processing Cambodia Tourism Minister, Thong Khon, stressed the country’s aim is  to attract two million Chinese tourists entering the Kingdom annually by 2020.Cambodia welcomed 3.5 million foreign tourists in the first eight months of 2017, up 11.8 percent from the previous year, of which 742,586 were Chinese tourists. According to the Minister, this represents a 44 percent increase of Chinese tourists- which is great news for the Kingdom’s economy-  especially for the real estate sector, which is buoyed by the continual influx of Chinese investment.Ms. Somnang Cheam, Director of Lucky Property Service, commented on the effect of Chinese tourism on the real estate sector: “When more Chinese tourists arrive in Cambodia, the real estate market will be more robust, with land prices rising in accordance with the demand for more affordable residential developments; such as condos, hotels, and guesthouses to meet the demand of rising Chinese tourists.” Ms. Somnang further believes this will also have a positive effect on Cambodia’s economy in the form of more job creation for Cambodian workers in the construction sector.Ms. Somnang continues: “However, landlords with properties for rent and properties for sale should be cautious with price setting. When there is more demand- especially from Chinese tourists who are looking for rooms for rent, landlords should not intentionally increase the price too high, which is affordable for the Chinese- but unaffordable for westerners or locals”Echoing Ms. Somnang’s view, Mr. Hay Ravy, Marketing and Sales Manager of Daily Realty Group, stated, “More Chinese tourists will lead to demand for more land to build hotels, resorts and guest houses - which means that land price surrounding key tourism hot spots will rise”. Mr. Hay believes employment opportunities will extend beyond workers in the construction sector and will create more job opportunities in the hospitality industry - in particular a demand for skilled Chinese speakers in hotels and resorts. “Rising Chinese tourists will also contribute to the nation’s revenue in the tourism sector,” Mr. Hay saidMr. Hay believes that the main reason Chinese tourists flock to Cambodia is due to the positive relationship between the two nations in many fields such as diplomacy, trade, and investment. Over the last five years, China has invested heavily in Cambodia’s real estate sector- particularly in Sihanoukville. China is dominating the real estate sector in the province, demonstrated by many major developments such as Blue Bay Condominium  and The SeaGate Suite which are underway.“Another crucial reason attracting Chinese tourists is the low cost of living in Cambodia. Compared to other nations such as South Korea, China and Japan, the prices of food, accommodation and transportation in these countries are five to six times higher than that in Cambodia” He further believes the world famous heritage sites of Angkor Wat, Preah Vihear, and Sambor Prei Kuk temple, as well as numerous natural attractions, also help to lure the Chinese to visit the Kingdom.”Mr. Jin Zhen, Sale Manager of EastLand Hotel and Apartments said: “Cambodia is a fast growing economy with good political stability. Political stability continues to attract both western and Chinese tourists to visit Cambodia.”Commenting on his own developments Mr. Zhen stated “EastLand has limited vacancy at the moment because we continue to provide excellent service to our customers. However growing Chinese tourists in the Kingdom has and will continue to further strengthen our belief that we are making the right investments in the country’s hospitality industry.”Tourism is one of the four pillars supporting the Cambodian economy. In 2016 the Kingdom received over five million foreign tourists including 830,000 Chinese and accumulating gross revenue of $3.4 billion, according to the Ministry of Tourism. This year, it is anticipated that Chinese tourists entering Cambodia will hit the one million mark.Further to this, three more Chinese airlines have commenced plans to enter Cambodia’s aviation market in the near future, in response to increasing demands of Chinese traveling for the purpose of conducting business, and tourists traveling to Cambodia.Mr. Eric Delobel, CEO of Cambodia Airports showed his enthusiasm regarding the new airlines: “Cambodia will welcome three more airlines which will lead to an increasing number of routes connecting both nations. The new proposed routes are Sihanoukville - Guangzhou, Sihanoukville - Kunming, Phnom Penh - Sanming and Phnom Penh- Shenzhen.” Mr. Delobel also commented that as it stands Chinese tourists account for approximately one-third of all inbound international air traffic throughout the Kingdom’s airports.With the Government already implementing critical steps of the “China Ready for Tourism” policy and enthusiasm across the board from developers and major players in the hospitality industry, it is likely that the goal of two million tourists per annum by 2020, is one that is both achievable and will have significant positive effects on the Kingdom’s economic and real estate development as a whole.Interested in learning more about Chinese investment? Check out our article: Chinese investors dominate the real estate market in Sihanoukville

After exhibiting at Cambodia’s Real Estate Show 2, The Parkway Investment Co., Ltd officially held their Grand Opening of commencing sales on the 18th November 2017 at their showroom The ceremony was great success, and honor to be presided by His Excellency Sar Kheng, the Cambodian Deputy Prime Minister. The Parkway is a joint venture between Cambodian Construction Firm, Parkway Investment Co., Ltd, and Chinese Construction firm, Nantong City Daxin Engineering (Cambodia) Co., Ltd. This new project aims to bring a modern condominium to the high potential area not to be overlooked- Toul Kork. At his speech at Saturday’s ceremony, Mr. Sour Sok Theng, CEO of Parkway Investment Co., Ltd, stated that, “Cambodia has overcome many obstacles, the country is progressing well and is rapidly becoming one of the countries with the largest potential amongst the developing countries in the world- especially in the real estate industry.”Parkway Investment Co., Ltd, is a leading development company and frequently cooperates with international construction companies to bring produce quality and luxurious projects; including projects Borey Rith and Parkway Square.Parkway Investment  Co., Ltd, established in 1994, has become renowned in Phnom Penh and focuses on developments such as building houses, commercial buildings, and multi-purpose international projects. The company has a vision to develop Phnom Penh into a clean, harmonious residential area that will continue to progress rapidly.Director of Nantong City Daxin Engineering, Mr. Ma He Jun said: "That the name “The Kingdom of Cambodia’  is not just a slogan that the Cambodian Government uses to promote the nation. For 15 years the average growth of Cambodia's economy has ranked number 6 in the world. We can see the prosperity of the Cambodian real estate market, especially in relation to China's economy and domestic policies. Cambodia is becoming the preferred investment destination  in the next coming 10 years.”“In addition, the‘One Belt One Road’ Policy initiative will push Cambodia's real estate prospects and lead to a remarkable increase’’ Mr. Ma also added that “Now is a great opportunity for investors to invest in Phnom Penh and The Parkway project is your best option”Parkway Investment Co., Ltd’s developments have gained strong attraction and have been supported by both local and international prospective buyers and investors. Mr. Ma believes “This is a great honor, yet it is also a big responsibility for the company”. Daxin Engineering is a renowned construction firm ranked number 200 in Chinese construction industry. The company has been operating for 43 years in China.The construction firm will cooperate with architecture team of China’s Sambok Chab Stadium, the construction team that was previously awarded “The Luban Prize for Construction Project”, the highest accolade in Chinese construction, as well as in cooperation with Parkway Investment Co., Ltd, to design The Parkway. This project is focused on reaching international standards of quality to satisfy the needs and provide comfort for valued customers.The Parkway’s Sales Manager, Ms. Ding LiLi has researched and analyses Cambodia’s real estate market.  Ms. LiLi said: “Buying property to obtain wealth is an investment strategy that is recognized by Chinese people, however, the value of property in China has significantly increased, therefore loan limitation policies, buyer limitation policies, and sale limitation policies in China are also increasing.  As a result, investing in Cambodia as well as in other countries in Asia is considered the wise option for Chinese investors”Ms. LiLi added that currently, “Phnom Penh’s real estate market development looks as same as Shenzhen did previously. Phnom Penh has emerged as an international market with a collection of multinational corporations and multi-international staff. Even though Phnom Penh has a wealth of apartments buildings, and more continuing and commencing construction to be completed in 2018 -  this still cannot meet the market demand”.Ms. LiLi has high expectations and has evaluated the location of The Parkway in Toul Kork and  said that “‘Toul Kork is popular for wealthy families and it is also a world popular tourism destination the  same as 16 districts in Paris, Roppongi in Tokyo, and Lujiazui in Shanghai.”She continued on by stating that “‘The growth rate of property value in Toul Kork is between 10% to 20%, apartment rental rate occupancy is higher than 90% and guaranteed rental return rate is expected from 8% to 10% - higher than apartments in Beijing and Shanghai. Therefore the  investment atmosphere is better than Shanghai, Beijing and Kwang Chov was 20 years ago”“Presently, the growth of value of residential houses in major areas in Phnom Penh starts with an average price at 25%, with rental return rates is anywhere between 8% to 15%. Therefore, if you miss out your investment in Shanghai, you must take the opportunity to invest in Toul Kork, Phnom Penh by choosing The Parkway”.Ultimately, The Parkway Investment Co., Ltd. would like to thank distinguished guests and the management and leadership of Royal Government of Cambodia. Due to this wise leadership, it brings a stable society with fast economic development as well as preferential policies offered by the Government. Therefore the investment atmosphere in Cambodia is more preferable, which will lead to encouraging homeowners to benefit as wellLocated in the finest city in Cambodia, in an elite location in the capital city of Phnom Penh, The Parkway is built to a luxurious world-class residential that you would never missed.Interested in investing in The Parkway, visit Realestate.com.kh now!

The  process of buying or renting business is often time consuming and may seem complex. However, by following a step by step process this can be simplified and help you ensure acquiring your new asset achieves your desired results - see Realestate.com.kh's Sale and Purchase of Businesses: A New Opportunity For Real Estate Agents? for more information.In Part 1 this week we will look at acquiring business property as a whole and the first steps in identifying the right business for you.Business Property in a Nutshell:Business property is a form of commercial property and is predominantly acquired to generate monthly income. There are many types of business properties available in the Kingdom including bars, hotels and restaurants-  amongst many other opportunities.Keep in mind buying a business property is different from buying residential property. This is due to the fact that when purchasing residential property, return on investment is seen in the coming years.  Purchasing a business will result in almost immediate monthly income. Therefore when looking to acquire a business property, there needs to be a proper analysis  based on the businesses current profitability, and opportunity for growth.Identifying the Right Business For You:For business acquisition, you need to define the type of business property that you're looking for. It is not a simple process of investing and waiting for capital appreciation to rise.The first step should always be research. If acquiring a business property is a new concept for you, talking to successful business owners and professionals in the industry can be a great starting point.Once you have a general idea of the type of business property you are looking to acquire, the research should then become more specific. This involves looking at short and long term prospects of the business property, current market supply and demand, and hiring an expert to ensure you have covered all bases.A simple example is if you were looking to buy or rent an established hotel business. The factors you should take into account include; looking at the reputation of both the hotel operator and brand, the duration of operation, current monthly overheads and average profit.From here you need to make a prospective analysis, as to the predicted annual occupancy rate, potential physical improvements to the facilities and how your investment’s profitability looks in the long run.Look out for next week where we take a further look into identifying the right business for you and the role that real estate agencies and lawyers play in this process!Interested in buying a business property? Check out the latest businesses for sale in Cambodia on Realestate.com.kh!