When you purchase property or land is critical to obtain outright ownership in order to feel secure about your new asset. To complete the process for transferring land titles of ownership, there are particular steps that need to be followed, documents that need to be obtained as well as consultations with relevant agencies. There are seven steps in the land transfer process you should know. We explored the first four steps last week - this week we will delve into the last three steps.Below are the last necessary steps for transferring land titles of ownership in Cambodia. This will give you clear instructions on tax obligations, the responsible government agencies , and the estimated time to complete the process, thanks to Realestate.com.kh.Step 5 - Pay transfer tax:A transfer tax of approximately 4 percent of the total value of the property is paid to the Ministry of Economy and Finance at the General Department of Taxation, in the district that the transferred property resides.  A tax receipt is then issued to prove that the property transfer tax has been paid.In Phnom Penh, however, this tax is not assessed based on the true transacted value of the property; but, rather, based on a schedule of the price of property determined by the Phnom Penh Municipality. The assessed valuation by the Phnom Penh Municipality is based upon factors such as; the total number of square meters, the land’s location, use, potential use and other variables.To put this quite simply the transfer tax is not based on the actual price of the land which is sold, which is usually the case- rather it is based on the assessed value made by the Phnom Penh Municipal office, which may be higher than tax rates in other provinces.If the land is more than 1200m², the surplus of the land will also be subject to “unused land tax.” For land less than 1200m², the unused land tax is not applicable. The time for the General Department of Taxation to complete the calculation of transfer tax will depend on the location of the land and its size.Relevant Government Agency: General Department of TaxationEstimated time to complete the step: This process should take around 1 day.Step 6 - Return to Cadastral office to complete the registration process:After all taxes are paid, the parties may return to the Cadastral office at the District Land Office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC) and sign/thumbprint an MLMUPC form for buying/selling real property, as filled in by MLMUPC official.The signing/thumb printing must be witnessed by a local authority such as Commune Chief, who will also give their thumbprint. These procedures are based on Land Law Articles;. 65, 244 and 245. Land Law Article 69 bars transfer of property unless all necessary taxes are paid. The documentation provided should include payment receipts of transfer tax. (obtained in Step 5).Relevant Government Agency: MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction)Estimated time to complete the step: This should take approximately 5 days.Step 7 - Obtain the certificate of title from the Municipal Land Office:Obtain the certificate of title from the Municipal Land Office: The Khan/District land office forwards all the “transfer documents” to the Municipal Land Office where it issues the final Certificate of Title in the new owner’s name. It is now registered.Relevant Government Agency: Municipal Land OfficeEstimated time to complete the step: 1 to 2 weeks. The last procedural step in practice can take several weeks, depending on the diligence of the land officials and interested partiesOver the last two weeks we have explored the 7 steps need for  transferring titles of ownership. It may seem like an overwhelming process as there are multiple government agencies engaged in the process. However, the outcome is a land title that is both secure and legally certified which can prevent disputes in the future. Your new home is one of the biggest assets you will acquire, so following the correct procedure is critical for your future enjoyment. Looking to invest in land as a foreginer? Read our sneak preview extract from our Realestate.com.kh Cambodia Real Estate Investment Guide 2018 in Issue 5 of our Cambodia Real Estate Magazine from page 42- just click below!Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh

Through numerous legal reforms, and much more clarity in the land titling system, the mechanisms in which foreigners can establish control and ownership over property in the Kingdom now come in several forms. Private ownership of units in a co-owned building (more commonly known as “strata title”), was the first legal instrument in allowing foreigners any ownership rights over property. However strata title is a right of ownership that is limited to specific units, and other legal restraints, so for a prospective foreign investor looking to develop on a larger scale- more freedom in acquiring land and property is needed - see Realestate.com.kh's Foreign Ownership in Cambodia: Laws & Regulation with Matthew Rendall for more information.One of the mechanisms which can be used in the acquisition of property is the establishment of a landholding company. This is a limited liability company incorporated under Cambodian law that owns property on behalf of foreigners. The most critical factor in establishing a legitimate landholding company is that 51% of this company must be owned by a Cambodian National. However, despite on paper the Cambodian party will hold the majority of the shares, the shareholder agreement between the parties can be structured in such a way that the foreign party will hold and exercise control and management of the company.The necessary requirement for majority ownership by Nationals’, and the subsequent benefits once the company is legitimately established is laid out in the law itself.  According to the Law on the Investment of the Kingdom of Cambodia (Chapter VI, Article 16): “Legal entities in which more than 51% of the equity capital are directly owned by natural persons or legal entities holding Cambodian citizenship” The available benefits are further described: “use of land shall be permitted to investors, including concessions, short term leases, long-term leases which are renewable in compliance with the provisions of the Land Law.These benefits that are conferred by law through this structure reach far beyond that which are available by other foreign ownership mechanisms, and are legally recognized.  Regarding the registration process for establishing a landholding company, Mr. Grant Fitzgerald, General Manager of IPS Cambodia, stated “’The most common way to set up the landholding company is through a lawyer who will be responsible for preparing all the legal documents that are required.”Mr. Fitzgerald continued by on by stating he believes that there are four key steps in the process of setting up the company:Step1: The foreign party needs to have a relationship of trust with the Cambodian partner;Step 2: The application process for setting up the landholding company needs to be followed   along with any necessary legal consultation.Step 3: The parties need to have completed the Article of Association. This document outlines  the purpose of the company, duties and responsibilities of its members recorded and defined clearly.Step 4: The parties can then seek to obtain the complete registration of the company.Mr. Fitzgerald elaborated that the Article of Association is the most critical document in the process and that, “It is a complicated process writing up [the Article of Association] as it needs to clarify details about shares, power, decision making rights and other obligations between Cambodian and foreign shareholders. This is a key reason why a good lawyer needs to be consulted throughout the process.”“Generally, as well as outlining the ownership percentages, the Article of Association will be structured with two classes of shares, each having different rights of control. This is to ensure that the foreign party is given “special power” to make decisions over the land.”“The duration of setting up the landholding company can take from two to three months and cost $3,000 to $10,000 or sometimes above that, dependent on whether you hire local or international lawyer” Mr. Fitzgerald added.Having owned a landholding company in Cambodia, Mr. Dana Taylor commenced business in Cambodia since 2009, and owns two companies: Brocon; a landholding company, and www.orome.asia, a property website.Talking about the process Mr.Taylor said, “I bought an existing company and it took about six months to complete all the processes and have the company transferred from the previous owner” Mr. Taylor estimates he spent approximately $8,000 through the whole transfer process.Mr. Taylor has found multiple benefits in owning a landholding company, but primarily the ability to buy land and other properties with hard title ownership has enabled major progression for his business. However with recently Ministry reforms in relation to tax requirements, Taylor believes the establishment of a landholding company could become more complicated, but believes this will not have a major impact - especially for larger scale companies.Ultimately, owning property through establishing a landholding company is the safest way of acquisition compared to other property investment mechanisms, because it contains verified documents, lawyer involvement and is recognized by the law itself. As long as both foreign and Cambodian parties have a relationship of trust and follow a clear and transparent process, the establishment of the landholding company should be one which is mutually beneficial.Search property for sale in Cambodia on Realestate.com.kh today - Or learn the latest real estate news in Cambodia.

Located on the western shore of the Bassac River and bordered by Sangkat Boeung Keng Kang 1, the Tonle Bassac Commune of Chamkarmon district is famous for its modern infrastructure and major mixed-use residential developments in the heart of Phnom Penh.Tonle Bassac offers easy connections to central Phnom Penh via the main roads of Sihanouk Boulevard to the north and Norodom Boulevard to the west.Since early 2015, Tonle Bassac has been bolstered by the influx of large-scale developments such as Aeon Mall 1, Habitat Condominium, Toyoko Inn Hotel and mixed-use developments such as The Bridge, The Peak and DI Riviera. These are just a few – with many more in progress.The latest projects such as Naga 2, a massive hotel and gaming extension to the NagaWorld Hotel, and the $2 billion, 133-storey Thai Boon Roong Twin Trade Center, will further contribute to Tonle Bassac’s reputation as a mega project hub.Upon its completion, the Thai Boon Roong Twin Trade Center will be Asia’s tallest tower. Owing to the high potential of Tonle Bassac, some real estate experts in Cambodia are optimistic that Tonle Bassac may soon become Phnom Penh’s commercial hub, similar to Marina Bay in Singapore.Laurence Hamilton, the Vice-President of NC Max World, said: “Tonle Bassac is conducive to high-rise development projects and is currently showing its great potential owing to many mega projects underway.“Tonle Bassac is highly developed with the existing and proposed mega projects set to push property prices in the area higher. Therefore, the future projects within this area will not be small ones anymore. “Prices of land surrounding Koh Pich and Aeon Mall are likely to skyrocket in the near future,” added Mr Hamilton.He is optimistic that Tonle Bassac is likely to become the second Marina Bay of Singapore in the future, given the current and proposed mega projects in the area. The largest is the $700 million DI Riviera on Diamond Island, with a similar design and purpose to Marina Bay, and it is a good example of this comparison.Heng Vathana, the CEO of Century21 Golden Realty, said: “Tonle Bassac is an attractive and high potential area for big developers keen on their next development projects – as the area still has a lot of big plots of land available for any development project. “It is an ideal place for big development projects such as villa and condo projects.“Tonle Bassac is currently most attractive to developers for future development thanks to its proximity to the central city and near the riverside. Mixed-use development projects such as The Bridge and The Peak are scheduled to be completed in 2018 and 2020 respectively and are located in Tonle Bassac,” he added.“Lately, Singaporean real estate developer Oxley Holdings has acquired a 1,200-square-metre plot of land in Phnom Penh’s Tonle Bassac district for $6 million to house a new showroom for The Peak.”Tonle Bassac is also considered to be the second best location to live and do business for expatriates, corporates and NGOs, following Boeung Keng Kang (BKK) closely. The area offers high security and modern infrastructure most suitable for the middle and high-income class and expatriates.Sorn Seap, the CEO of Key Real Estate, said: “The best part of Tonle Bassac is in the Diamond Island [Koh Pich] and Aeon Mall area. Within this area, land prices can range from $3,500 to $4,500 per square metre – while in other inferior parts of the area, prices can range from $2,000 to $3,000 per square metre.Find property for sale or rent in Tonle Bassac on Realestate.com.kh

After getting the permission to build the new $80 million 21-story building on the former white building, Japanese construction company Arakawa is to invest in another affordable housing project worth $70 million in Teuk Thla Village, Teuk Thla Commune, Sen Sok District.According to the announcement of the Ministry of Land Management, Urban Planning and Construction (MLMUPC), Arakawa is set to launch the construction of its affordable housing project on November 8, 2017.Sitting on the land area of 13,680 Square meter, this project will consist of 2000 units and is divided into two phases of development. The initial phase consists of 10 building with 5 blocks, each block comprising 2 buildings with 19-23 storeys.With the Cambodian government’s drafting policy pushing for more low-cost housing projects, some developers such as WorldBridge Land and B & BM Development have already launched affordable housing projects targeting low-income population in Kandal province under the National Housing Policy.During the National Housing Forum held in June 2017, Chea Sophara, Minister of Land Management, said: “The Ministry of Land Management is paying more attention to seek ways for providing affordable housing for low-income people across the country to have housing with comfort, dignity and safety.”The ministry is working with the Ministry of Economy and Finance to “establish affordable housing prices and incentives on tax and regulation” to encourage the private sector to shoulder the task, according to the minister.With tax incentives and clear regulations, more developers are likely to consider investing in low-cost housing projects which will ultimately be able to meet the demand for some 55,000 affordable new homes each year.Keep track the new development news on Realestate.com.kh!Click here for current borey for sale in Phnom Penh

When you purchase property or land  is critical to obtain outright ownership in order to feel secure about your new asset. To complete the process for transferring land titles of ownership, there are particular steps that need to be followed, documents that need to be obtained as well as consultations with relevant agencies.This week, in Part One we will explore the first four necessary steps for transferring land titles of ownership in Cambodia. This will give clear instructions, information regarding the responsible government agencies , and the estimated time to complete the steps thanks to Realestate.com.kh.Step 1: Verify the title certificate with the relevant Land OfficeThe buyer will first need to verify the land title certificate with the Land Office at the Ministry of Land Management, Urban Planning and Construction (MLMUPC), to check for any debts or other claims to the property. This process requires:●      The buyer obtaining the initial title certificate from the seller to verify their genuine ownership.●      The buyer will then verify the title certificate with the Land Office at the MLMUPC●      The Land Office will inform the buyer if there are any liens (debts), mortgages or other claims registered to that propertyRelevant Government Agency: Land Office at MLMUPCEstimated time to complete this step: This takes approximately  10 days (should occur simultaneously to steps 2 and 3)Step 2: Obtain information on the property:The buyer must then obtain information on the property from the relevant Commune Council Official. This involves the buyer contacting the village chief or the Commune Council Official in which the property is located, to obtain information about  the land. In addition to this an official search of the title should take place at the Khan/District Land Office.Relevant Government Agency:  Commune Council (Relevant District/Khan office in your property’s  area)Estimated time to complete the step: This should take approximately 10 days (should occur simultaneously with  steps 1 and  3)Step 3: Obtain the certificate of incorporation and official documents from the seller:If the landowner is a legal entity, the buyer must obtain;●       A copy of the ID of the shareholder, or person acting on behalf of the company,●       A certified/notarized copy of the Certificate of Incorporation of the seller’s company as issued by the Ministry of Commerce.●      Any other official documents from the seller relating to the company and the transaction.All of these documents are needed to verify the accuracy and identity of the company name appearing on the title certificate.Further documents needed to verify the seller’s authorisation to transfer the property to the buyer are;●      A power of attorney●      A Resolution signed by the Board of Directors from that company authorizing the named individual (seller) to represent the company at the Land Office (MLMUPC)●      A power of attorney specifically stating that  the seller can bring into effect that Resolution to transfer land titles of ownership to the buyer.Relevant Government Agency: Ministry of CommerceEstimated time to complete the step: This process should take around 10 days (should occur simultaneously to steps 1 and 2)Step 4: Apply for registration at the District Land Office (MLMUPC)When the buyer and seller, whether they are as an individual or a  company  wish to complete the property transaction, they must go together to the District Land Office at the MLMUPC to arrange to prepare and sign the relevant documents.The documentation needed for this step is●      The Company’s statute,●      The Company’s Certificate of Incorporation (obtained at Step 3)●      Both of  the Power of Attorney documents (obtained in Step 3).The original Title Certificate held by the seller must be presented to the District Land Office  at the time of signing the deed, in order to have the name of the new owner officially inserted on the document.Relevant Government Agency: District Land Office, MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction)Estimated time to complete the step: This step takes between 20 and 30 days.Although there may seem to be a body of paperwork to initiate the process for transferring land titles of ownership, as a buyer, having a legitimate title to your prospective land or property enables you security and legally sound transaction.  Stay tuned for Part 2 next week, where we will delve further into the remaining steps of the process and take a comprehensive look into transfer tax.Looking to invest in land as a foreginer? Read our sneak preview extract from our Realestate.com.kh Cambodia Real Estate Investment Guide 2018 in Issue 5 of our Cambodia Real Estate Magazine from page 42- just click below!Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh

​Taiwan developers 4 Season Construction Co.,Ltd, announced their brand new residential development Le Bassac, to be built in the heart of Phnom Penh, this morning.Situated at the junction of Norodom Boulevard and Street 294, this development has combined the expertise of renowned international architect and designer, C. Y. Lee, and China’s largest building company, China State Construction Engineering Corporation (CSCEC): Straits Construction and Development Company, Ltd, to achieve the developer’s goal of “superlative construction quality”.In their press release the developers state that this international, residential building will set a new standard of quality- right from the building’s foundation itself, which will penetrate rock layers 7 meters underground. This is in order to ensure the longevity and structural integrity of the project.Although situated in the business area, the vision of Le Bassac is to be designed as “an oasis of calm and nature”. The development will have vast amounts of surrounding landscaped greenery and views overlooking the Mekong River. Other key facilities of the project will include a swimming pool, fitness centre and an online international medical connection center, to truly focus on resident’s health and wellbeing.Le Bassac will consist of 33 storeys containing two or three bedroom homes, which are targeted towards comfortable family living. Full-sized parking spaces for each household will also be available in a well-lit garage. As the project resides a mere 250 meters from the Independence Monument, there is ease of access to necessary amenities such as; banking services, commercial office buildings, retail stores, cafés and fine dining restaurants.  From the conception stage of Le Bassac, the developers state that “concern for the environment has been a primary focus’’.  Energy conservation, sustainable management practices and the latest green building standards were integrated into the design of the structure. This concern is reflected throughout the plans, from the foundation, right through to the top garden.The spokesperson for 4 Season Construction Co.,Ltd, concluded this morning’s press release by expressing their deepest gratitude  “Finally, on behalf of everyone in the company, I would like to deeply thank the Kingdom of Cambodia for giving us the opportunity to work with Phnom Penh to be a partner in the growth and development of this amazing city.”Le Bassac is estimated to be completed by October 2020, and although exact prices have not yet been released, the pricing structure will include easily obtainable financing and loan procedures, in a prime area for capital appreciation.  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...Take 2 minutes to complete our survey and win and IPhone 8!

The 28 members of the Cambodian Valuers and Estate Agents Association (CVEA), from across fourteen local real estate companies, will participate in the REALTORS® Conference & Expo in Chicago, United States of America, next week.The National Association of Realtor’s (NAR) is America’s largest trading association, and holds the REALTORS® Conference & Expo annually. The four day event will take place from the 3rd to 6th of November, attracting 20,000 real estate professionals  from  60 countries around the world.Dr. Kim Heang, President of CVEA stated that the purpose of attending the conference is to promote Cambodia's real estate industry to the world: “During the event there will be be thousands of multi-international real estate agents and agencies from all the edges of the world.”Dr. Kim added  “This is the best time for us to raise our national flag to be among the other countries, and [by raising the] Cambodian flag, will show the strength of our real estate market to the rest of the world.” Dr Kim further believes that this is a great opportunity for Cambodian members to learn the new development structures, technological advances, innovation and management forms that international real estate agents are already using.However, Dr Kim doesn’t expect the four day conference will lead to immediate growth, but believes it will allow CVEA members to ensure they understand the way that  foreign countries are developing their real estate- and then gradually implement these practises into the Kingdom.The CVEA team will also travel to other states in America with the plan to sign Memorandum of Understanding(MoU) with other real estate agency partners, which is a great opportunity for building international real estate relationships. The 14 real estate companies and agencies that have representatives attending the REALTORS  Conference & Expo are; Khmer Real Estate Co., Ltd, Cambodia Properties Limited (CPL), Century 21 Cambodia, The Sea Gate Suite, Towncity Real Estate Co., Ltd, Amatak Property Service Co., Ltd, KAT Appraisal Co., Ltd, Eyes Real Estate, Century 21 Mekong, Anajak Investment Co., Ltd, Century 21 World Trust, Century 21 Fortuna Investment, CBRE Cambodia, Active Property and Realestate.com.kh.Want to learn the latest real estate news, visit Realestate.com.kh today!Take 2 minutes to complete our survey and win and IPhone 8!

A new law is in the process of being  drafted by the Ministry of Economy and Finance which will restrict the number of licenses that are issued for construction investment projects and real estate properties in the Kingdom. The new law aims to protect financiers of projects from being defrauded by investors and ensure that projects that are granted licenses are completed on time.The buyers, themselves, can also check by their own whether the protect has legal documents to run the project. Through stricter monitoring of residential projects, as well as strengthening of rules surrounding bank loans and deposits, the Ministry of Economy and Finance believes they can tackle and eliminate people from falling victim to real estate scamsSerey Peung, General Manager of Cambodia Angkor Real Estate, believes that these rules would be good news for the industry- especially in light of some of the fraudulent dealings he has seen. One such example is of companies that acquire loans from banks by using their land as collateral. In these cases the company would announce the project and start selling units, prior to construction taking place-  in order to fund the project's completion. In many cases the sale of these units pre-construction has slowed down, which means that these financers were “left in the lurch”Peung believes it's critical that construction begins prior to the sales: “Don’t just announce the sales and start selling - because it is very risky,”Presently the Ministry requires project owners to deposit 2 percent of their capital investment in a local bank in the event that the project is not completed. However the new law will strengthen and add to this rule, by requiring transparency and official guarantees from that bank and partners of the project.As it stands there has been no decision on a new minimum deposit needed by an investor, but this is set to be decided after further consultation with private sector stakeholders, and development of the law. Ultimately it is hoped that the law will encourage only those who have the financial means, to invest in ‘’real property’’.The new law is expected to take effect by the end of 2017.“Kim Heang, the head of the Cambodian Valuers and Estate Agents Association, stated that the new law has been in the works for almost four years now and would not have any effect on those who adhere to transparent business practices.“The new law will help reduce the amount of non-physical projects because there used to be companies using their land as collateral at the bank and then announcing their projects for sale, and projects like these are very risky,” he said. “This law is very good for society, while it ensures that only those with real capital can invest in real property projects.”Okhna Ly Hour, head of the Cambodia Constructors Association, said in the past, there were land plot salesmen who would say the land is near Phnom Penh and very cheap but would decline to mention exactly where it was. The ministry was concerned about the risk, and that is why the new law was drafted, he said, adding that the law was not a restriction, as it was designed to help save people.“This is the care of the government for the people, and we, the private sector, fully support this intervention,” he said.Find the best borey for sale in Cambodia on Realestate.com.kh! Or find out more why buy off-plan project in Cambodia?

CASA Meridian Residence - ExteriorCASA Meridian Residence is the first international-class serviced residence in the capital and economic hub Phnom PenhPhnom Penh, 1 November 2017 - CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has today opened its first serviced residence in Cambodia, CASA Meridian Residence, in Phnom Penh’s up-and-coming residential and retail hub of Diamond Island (Koh Pich). CASA Meridian Residence offers 75 fully-furnished residences on the top 13 floors of the 34-storey integrated development CASA by Meridian, which also comprises a high-end shopping mall, premium office spaces and wellness facilities. The serviced residence provides unparalleled conveniences to travellers and expatriates who value a balanced lifestyle in the heart of the capital Phnom Penh, as the property is within minutes' drive from an array of amenities such as the AEON shopping mall, international schools, conference and exhibition centres, embassies, premium offices, Jet’s Container night market, and the entertainment complex NAGA World.One-Bedroom Premier – Living RoomMs Lew Yen Ping, Ascott’s Country General Manager for Vietnam who oversees the company’s expansion in Cambodia, Myanmar and Laos, said: “Ascott has built a strong brand reputation and expertise in managing world-class serviced residences over the last 30 years. We expect significant demand for our first property in Cambodia, CASA Meridian Residence, as it is the first international-standard serviced residence in the country’s capital and economic hub Phnom Penh. In addition, Cambodia has achieved sustained economic progress and strong international tourist arrivals. Ascott will be able to leverage first-mover advantage as we open our second property in the city - Somerset Norodom Phnom Penh in 2018. Casa Meridian Residence will provide corporate travellers, expatriates and their families a balanced living experience, the comfort of home and Ascott’s signature hospitality by our well-trained team.”Ms Lew added: “With our entry into Cambodia, Ascott is now present in nine out of 10 countries in ASEAN, giving us a strong foothold in the region. ASEAN member states recently signed pacts to boost transport links to make it easier for cross-border travel. With greater connectivity, business activities and investment are expected to increase, driving demand for serviced residences. We will continue to explore opportunities to grow Ascott’s presence in Cambodia and other ASEAN markets to reap benefits from greater economies of scale and expand our network of properties for customers.”Swimming PoolCASA Meridian Residence provides a wide selection of apartments between levels 22 and 34 across two towers. These range from cleverly designed studio apartments ideal for single executives travelling for business, to sleek and modern one-, two- or three-bedroom apartments that can comfortably accommodate up to six persons. Every apartment features contemporary furnishings, well-defined living and dining areas, as well as fully-equipped kitchen.Residents can also enjoy a comprehensive range of lifestyle facilities including an infinity swimming pool, children’s wading pool, jacuzzi, indoor playroom, yoga room, sauna, club house, and fully-equipped gymnasium as well as business support amenities such as a conference room, meeting room, and serviced offices for rental.   To celebrate the opening of CASA Meridian Residence, Ascott is offering special introductory rates starting from USD 1,150+ per month from now until 31 December 2017. For reservations, or more information, please visit www.the-ascott.com, call +855-23-972888 or email enquiry.phnompenh@the-ascott.com.Two-Bedroom Deluxe – BedroomAbout The Ascott LimitedThe Ascott Limited is a Singapore company that has grown to be one of the leading international serviced residence owner-operators. It has over 43,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 26,000 units which are under development, making a total of close to 70,000 units in over 500 properties. The company’s brands include Ascott, Citadines, Somerset, Quest, The Crest Collection, and lyf. Ascott’s portfolio spans more than 120 cities across over 30 countries.Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning serviced residence brands that enjoy recognition worldwide.Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2017 for ‘Leading Serviced Apartment Brand’ in Asia and Europe; DestinAsian Readers’ Choice Awards 2017 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2017 for ‘Best Serviced Residence Operator in China’; Business Traveller Asia-Pacific Awards 2017 for ‘Best Serviced Residence Brand’; Business Traveller Middle East Awards 2016 for ‘Best Serviced Apartment Company’; Business Traveller UK Awards 2016 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2016 for ‘Best Serviced Residence Brand’.For a full list of awards, please visit www.the-ascott.com/ascottlimited/awards.html.About CapitaLand LimitedCapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$80 billion as at 30 June 2017, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 150 cities in over 30 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.  CapitaLand’s competitive advantage is its significant asset base and extensive market network.  Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.Visit www.capitaland.com for more information.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...Take 2 minutes to complete our survey and win and IPhone 8!

Poipet is a city serving as Cambodia’s main border crossing with Thailand. Located in Banteay Meanchey Province, the seemingly sleepy border town has been gaining popularity as a gambling destination between the two countries.However, the government plans of turning Poipet into an industrial zone is coming into place. It is believed that due to this - and the town’s proximity to Thailand - investors will seek opportunities to invest in the town’s manufacturing sector.Vital infrastructure such as the railway link between Phnom Penh and Bangkok (via Poipet-Aranyaprathet) has already complemented and is expected to further contribute to the estimated $6 billion worth of trade between the two neighbors. Prime Minister Hun Sen indicated that his government also plans to further develop the national railway to increase its popularity among Cambodians.Mr. Eric Wong, Administrator of SkyscraperCity Cambodia, shares a positive outlook with the border town’s growth saying: “Poipet has seen remarkable development in recent times with the establishment of more factories and businesses”. Mr. Wong’s family has invested in multiple businesses in Poipet due to the town’s strategic location to Thailand and believes that border trading between Cambodia and Thailand is already growing.The establishment of the Sanco Poipet Special Economic Zone (SEZ) in 2014 is one of the key reasons for this growth and acts as a vital economic trading gate between Cambodia and Thailand, which is poised for future development.Soeng Sophary, a spokesperson for the Ministry of Commerce Cambodia commented that:  “Thailand is one of the Kingdom’s main trade partners with both governments enjoying very close and amicable relations.’’ Sophary believes that due to these strong government ties, cross-border trade could increase to 15 billion USD by the end of 2020.Sophary continued by stating that: “The value of imports from Thailand has decreased marginally, due to the fact that more Thai investors are building factories in Cambodia, at the same time, Cambodia’s exports to Thailand have actually increased.” She also believes that the new railway will be a major catalyst for improving infrastructure and will aid both Cambodia and Thailand in reaching their trade goals.In terms of Poipet’s real estate market; land price is consistent and not seeing any signs of remarkable increase. However, Mr Sorn Seap, CEO of Key Real Estate believes the prices are expected to rise now that the railway project is finished and more industrial activity takes place.He elaborates, “Currently, land prices for residential projects in areas without construction are between 200 and 300 USD per square metre, and in construction dense areas is priced between 300 and 500 USD  per square metre.”Mr Sorn continued, “For commercial areas or downtown Poipet, prices range anywhere between 500 and 1,000 USD per square meter, while the land price located along National Road 5 or close to the border can reach up to 1,000 and 2,000 USD per square meter.”Although residential property development isn’t seeing any drastic growth at the moment, Mr. Sorn stated he has seen some movement with a handful of Borey projects in the 50,000-100,000 USD price bracket being developed. Mr. Sorn is convinced there is serious potential in Poipet’s real estate industry in the future, due to increased employment opportunities from the existing SEZ, and the government’s industrial plans. Ultimately, more demand for labour in the city will lead to a need for residential housing.The completion of the railway project is expected by real estate agents and experts will result in the increase of trade between Thailand and Cambodia and consequently encourage a rapid influx of investors building factories in Poipet. This will eventually have effects on boosting the local economy and incomes across the board.Ultimately, this casino-dense border town is rapidly changing and is anticipated to become one of the most attractive investment destinations in Cambodia in the years to come.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on April 24 and 25 at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Nestled in northwestern Cambodia, Battambang, the leading rice-producing province of the country, has shown some remarkable growth in real estate development over the last few years. While the real estate market is traditionally known for its’ colonial buildings, over 11 residential borey projects have recently been developed, with signs of many more to come.Mr. Ear Veng Mong, CEO of Borey Rom Chek, in Battambang city, has invested over 30 million USD into a 19-hectare borey development, which commenced construction in 2015. In discussing his investment to local media, Mr. Ear expressed that Battambang has great future potential because government officials, and the Ministry of Tourism, are working together to turn the province into a tourism hot-spot.Moreover, Mr Ear believes that “The province is already rapidly developing and already has a lot of people within a ‘medium income bracket', who are able to afford residential housing”. This belief is one of the key reasons Mr. Ear decided to commence development of his residential borey projects.Mr. Ung Sangha, Representative Office Manager of Bonna Realty, in Battambang, reinforces Mr. Ear’s viewpoint, by stating that “Investors cannot overlook Battambang’s investment potential, as [Battambang] is a big province, with relatively good infrastructure, and a population of over one million".However, Mr. Ung believes that the local economy will need to continue to grow, in order for the majority of local residents to afford housing purchases in the province.New infrastructure developments are bringing more population traffic, including the new international border checkpoint in Battambang’s Sampov Loun district - which connects to Thailand’s Sa Kaeo province. This international checkpoint will allow for more cross-border trade and tourists passing through, which will lead to a boost of income for the local population.Further to this, the government plans to expand more highways, connecting Battambang to Phnom Penh and Banteay Meanchey over the coming years. The result will improve accessibility and enable more more trade within the province which has an economy that currently relies heavily on the agricultural industry and little else.Despite Battambang’s real estate investment potential, land prices do not show any sign of rising to the levels recorded in other key provinces, such as Sihanoukville and Siem Reap.Mr. Ung explains that land prices in residential areas are between 60 to 120 USD per square meter, which he believes to be very affordable for local buyers. However, land prices in business areas are between 1,500 USD and 1,800 USD per square meter, and 1,800 USD and 2,200 USD per square meter, in the commercial sector. This dramatic price contrast between residential and commercial areas demonstrates the increasing demand for land within Battambang's central business district.As a result of these competitive prices, more investors are conducting feasibility studies on real estate potential in Battambang. Mr. Ung has confirmed that Bonna Realty has seen a major influx in the amount of inquiries concerning land and property prices over the last six months.Battambang’s investment potential has already attracted more cement firms to establish operation, in response to the growing number of construction companies operating. The 230 million USD Battambang Conch Cement project is set to begin operation in December 2017. Further to this, Thailand’s Siam Cement Group has also announced that it is preparing to open its third cement plant in the province in 2018 which will have a production capacity of 1.8 million tonnes a year once operational. Mr. Heng Tola, a local investor, has been developing both residential and land projects in Taprouch Village in Sangkat Kdol Doun Teav since January 2015. Mr Heng elaborated on his motivations citing; “The reason I invested in these projects is that our country continues to have political stability, and an average economic growth rate of 7 percent per year”.Mr. Heng believes that due to the rising middle-income population, there will be high demand from Battambang locals in the near future looking to purchase a new home.  However, Mr. Heng has already enjoyed significant support from local people, who have already purchased land and houses for residential living in his current projects. He elaborated on the growth of his projects: “In 2015 we started with a total land size of 1.5 hectares, and two and a half years later we have increased our projects up to 20 hectares, with 200 flat houses, one market and one cinema,”Ultimately, Battambang’s real estate agents, and investors alike, are optimistic that the province will attract more local and international investors into the real estate market over the coming years. Active improvements to infrastructure and domestic connectivity will continue to boost investor’s overall confidence in an area which is bustling with opportunity.Search properties for sale in Battmbang and current properties for property for rent in Battambang!

While property appraisals are generally performed by skilled professionals, anyone involved in a real estate transaction can benefit from gaining a basic understanding of the different methods of valuation. Investing in a property is a popular and quite effective way of securing and growing one’s wealth; especially if you see good returns from it in the long run. However, in order to make a proper investment, you must know how much you should invest in the first place.Real estate evaluations can be tricky in the sense that a lot of factors have to be considered to assess their value. Fortunately, investing in Cambodian property is made easier with set standards and best practices in place.Realestate.com.kh lays out the basics of calculating evaluation fees, and other important aspects you should consider when determining the value of a property you’re interested in.How is Property Valued in Cambodia?The property valuation report includes all the features of the property and helps the owner, and prospective buyers, to understand its exact current condition.The goal of an appraisal is to determine a property's market value: the most probable price that the property will bring in a competitive and open market.An estimation of your property’s current worth or “market value” should consider any prior valuations of your property, suburb valuation trends, owner information, selling history, transfer history and comparable sales in the area.The property valuation gives an estimated market value of a property that is determined using various property industry sources, such as information from the relevant Cadastral office where the property’s title was certified, recent sales statistics, property-specific details, and relevant price trends.Unlike many consumer products that are consumed or perishable, the benefits of real property are generally realised over a longer period of time. Therefore, an estimate of a property's value must take into consideration economic and social trends over time, as well as governmental controls or regulations and environmental conditions that may influence that value.Evaluators and their fees in CambodiaHiring an evaluator is recommended for property investors, mortgage lenders, insurers, and tax collectors. But before you go and hire an evaluator, you must know what to expect from them.Here’s a quick list of things you should be expecting from a reliable property evaluator:Know the demand for that property - the desire or need for ownership supported by the financial means within the market to satisfy the desire;The utility of that property - the ability of your property to satisfy future owners' desires and needs;Scarcity - the finite supply of competing properties of a similar type and description;Transferability - the ease with which ownership rights over your property are transferred.Evaluators in Cambodia are commonly paid based on a percentage of the assessed property value. You can also contact the Cambodian Valuers and Estate Agents Association (CVEA) for property evaluators.Below is the necessary calculation formula you should know when hiring an agent to evaluate your property in Cambodia.Valuation feesWhen you sell your property and need a valuation firm to define your property’s value, these are the charges you should expect from your licensed Valuer:For a property that is valued below $100,000, you need to pay a valuation fee of 0.17% of the property value, or a minimum of $170;Property valued between $100,000 and $1,000,000 will be charged to you at 0.1%, or a minimum of $900;Property with a value between $1,000,000 and $5,000,000 will be charged to you at 0.05%, or a minimum of $2,000;Property with a value between $5,000,000 and $10,000,000 will be charged to you at 0.03%, or a minimum off $1,500;Above $10,000,000, you will be charged at 0.025% of the property value.To clarify this, let’s take a look at some specific examples below:Valuation Example 1:Key Real Estate is a legal valuation firm. Mr. Vichet hires Key Real Estate to evaluate his property and he agrees to pay the price that the ministry has set. After doing the valuation, it is found that his property is valued at $1.5 million. So, how much is the fee?Calculation breakdown:First $100,000 is applied: $100,000 X 0.17/100 = $170;And $900,000 is applied: $900,000 X 0.1/100 = $900;Then, $1,500,000 - ($100,000 + $900,000) = $500,000. So, the $500,000 X 0.05/100 = $250Now we can get $170 + $900 + $250 = $1,320.In this case, Mr. Vichet needs to pay a valuation fee of $1,320.Valuation Example 2:Cambodia Properties Limited (CPL) is a legal valuation firm. Mr. Sovan hires CPL to evaluate his property and he agrees to pay the price that the ministry has set. After doing the valuation, it is found that his property is valued at $13 million. So, how much is the fee?Calculation breakdown:First $100,000 is applied: $100,000 X 0.17/ 100 = $170;$900,000 is applied: $900,000 X 0.1/100 = $900;$4,000,000 is applied: $4,000,000 X 0.05/100 = $2,000;$5,000,000 is applied: $5,000,000 X 0.03/100 = $1,500;Then $13,000,000 - ($100,000 + $900,000 + $4,000,000 + $5,000,000) = $3,000,000.  So, the $3,000,000 X 0.025/100 = $750Now we can get $170 + $900 + $2,000 + $1,500+ $750  = $5,320So, Mr. Sovan needs to pay a valuation fee of $5,320.However, while this is set for the general property valuations; note that some special properties such as factories and huge business properties have no set valuation fee.Instead, it depends on each case and the calculation formula set out in the pre-agreement between you and the valuation firm.Read more on the property taxes in Cambodia.Benefits of a Proper EvaluationSelling your Property: If you want to sell your property in Cambodia and need to find out the appropriate price, using the services of a property valuator is the best choice.Buying Property: When you are interested in buying a new property and need to make a pre-purchase assessment of it, you can find all the information that you need by taking up the services of a property appraiser.Tax Compliance: In the case of tax-payment related matters, a valuation of the property by property valuators is necessary to determine tax liabilities fairly and openly.Assessing Rental Rates: In a situation where you wish to lease out your property and need to set an appropriate rental cost based on the qualities of your property, a property valuation service will be useful in determining the amount based on your property’s value.Legal Settlements: For the settlement of property rights between members of the family, matrimonial settlements, litigation settlements, etc. you need to know the appropriate value of the property in order to divide it fairly.Mortgages and Loans: In order to borrow money from the bank, you need to provide information about your real assets by which you can guarantee the loan. A good valuation will help guarantee your next loan or Mortgage.Insurance: When you have to get the value of your property for the purpose of insurance coverage and claims, nothing can get the matter through faster than hiring the services of professional property appraisers.Increasing the value of your Property: By understanding how your property's market value increases according to the criteria of the valuation report, you can upgrade features of the property to increase that value in time for the next valuation. A valuation report allows you to objectively analyze your property, and any business ventures attached to that property, and improve its market value.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

The Cambodia Real Estate Show 2, organised by realestate.com.kh, welcomed over 4,000 local and international visitors and investors through the Grand Ballroom doors of NagaWorld Hotel last Friday & Saturday. 6th and 7th of October.The second Cambodia real estate show finished on Saturday evening with a successful result for both developers and real estate buyers.  Many local and international developers sold property during the two days, with an end result of 133 units sold and booked, and over 20 million USD spent.The show was made possible by sponsors VDB Loi, Homeloan.com.kh, Harvey Law Group and South East Property Services Cambodia (SEAPS) - and of course the event organiser, realestate.com.kh.Leading the sales results was Prince Real Estate Group who sold 38 units of their Prince Modern Plaza and Central Plaza condo developments; followed by Naki Group selling 6 units and booking 32 in their various borey projects. Renowned local developer Orkide Villa also sold 14 units of their developments underway in the heart of Phnom Penh; Creed Group and Star 5 Developers sold 7 units, and 5 units of property respectively; and other developers such as Blue Bay, City Park, and Star City also converted several sales during the show.  The event attracted a multinational spread of attendees - with approximately 40% Chinese, 40% Khmer, and 20% mixed international guests. Free seminars on topics such as property law, tax and investment advice were also available in Khmer, English and Chinese.One attendee of the show, who had travelled from Hong Kong, said, "I heard about it [the show] on the internet. It was really good. What I have seen here was so much better than anything in Cambodia before, I have been to other exhibitions before but none were as comprehensive."Developers at the show also booked site visits, showroom tours, and gained hundreds of serious leads to follow up in the coming weeks. Prize draws over the two days saw buyers rewarded with three winning air conditioning units from Hitachi, and ten buyers winning a holiday getaway for two to Vkirirom Resort.Ms. Kelly, Deputy Sales & Marketing Director at Creed Group, stated that, “The show gathered a large number of potential buyers, there were even more developers, and the show was bigger than before.” She also commented that the venue, NagaWorld, was strategically located.  Creed Group’s 7 unit sales were across two of their three projects; namely Bodaiju Residences and Arata Garden Residences.Mr. Tony Yu, Marketing Manager at Orkide Villa, had a similar impression of the show: “We were very satisfied to be a part of the second Cambodia Real Estate show which enabled us to achieve direct sales.” Mr Yu also believes that the show benefited both developers and buyers, and encourages local developers to get on board for the next show- as Orkide Villa will certainly join again.Prince Real Estate Group, who achieved 38 unit sales over the two days as confirmed by their sales manager, now has their Prince Modern Plaza development mostly booked following the show - and were pleased with their result of leading the sales board at the end of the event.Blue Bay’s sales representative at the show commented of the quality of the attendees at the show, stating “We aimed to show our project to the buyers [and] this real estate show was an excellent way to attract more buyers for our project. The visitors we had were quality buyers. Our two buyers were both Chinese.”Reflecting on the show, Mr. Tom O’Sullivan, CEO of realestate.com.kh - the show organiser, said that, “When investors from throughout the region arrived in Phnom Penh for our real estate show, they were able to feel, smell and touch Cambodia; they saw the drastic changes happening here in terms of construction and real estate development”.He continued that he was pleased with the fact that attendees have come to understand the infrastructural improvements that are presently happening which is transforming Cambodia into a ‘prime economic hub’ for investors. Mr O’Sullivan believes that this insight is what gave so many the confidence to invest in property at the show, and going forward, in Cambodia.Official Media Partners for the event were The Khmer Times; AEC News Today; Jian Hua Daily; Gold Zone Media; Grep Tech; B2B Cambodia; Angkor Today; The British Chamber of Commerce; The American Chamber of Commerce; The European Chamber of Commerce: Property Report; CVEA; CCA; Kampuchea Thmey; Cambonomist; Thmey Thmey; E-Link; Biz Khmer; Business Cambodia; Tranio International Property; BTV & the Sin Chew Daily.About Realestate.com.kh:Established in 2009, Realestate.com.kh has grown to be the number 1 real estate website and marketing company in Cambodia, working with the nation's leading real estate agencies, developers and lenders. We have over 50,000 properties for sale and rent on our website and app, with tens of thousands of property hunters visiting our website each month. We also print a quarterly real estate magazine entitled “Cambodia Real Estate” and co-produce a weekly property section with The Khmer Times newspaper.Sales and Marketing Contacts:Nin Kang (chinese/khmer language)nin.kang@realestate.com.kh+855 78 637 323 / +855 93 552 305Tyler Stuart (english language)tyler.stuart@realestate.com.kh+855 12/81 599 669Realestate.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…

In Cambodia there are approximately 150 real estate agencies that are completely registered, with their agents working throughout the country concentrating solely on rentals, sale, and purchase of ‘general property’ such as condominiums, villas,apartments, borey, and plot land.The property market continues to boom in the Kingdom, however with new agencies and agents becoming established frequently, it’s only a matter of time before the market is completely saturated with real estate agents -working on the sales of same properties and developments. Because of this,a few agents have set their sights elsewhere and decided to work on renting and selling businesses  - a niche in Cambodia’s real estate market.South East Asia Property Services (SEAPS) is among the few agencies currently working on business property. The company works on renting and selling all types of businesses and related properties such as bars, restaurants, boutique hotels, and large hotels in Sihanoukville and Phnom Penh.Mr. Cris Knowles, Manager of SEAPS commented on their reasons for this, stating, “Cambodia is definitely an untapped market in the realm of business property, with great opportunity for motivated and knowledgeable buyers to turn around a fledgling business and create a strong presence in the area.”Mr. Cris further noted that enquiry and demand has jumped considerably over the past two years. They have found that is a wide range of buyers - both foreigners and Cambodian nationals. Taking Sihanoukville and the surrounding of Koh Rong and Koh Rong Solem as an example, there is a much larger demand from western buyers- and a gap in the market between the number of expat buyers who are looking to buy businesses, and the agencies qualified to handle their enquiries.Further commenting on expanding SEAP’s services, Mr Cris believes that dealing with businesses, requires greater confidence, specific knowledge and necessary understanding of a business to sell it, “After 17 years in the industry, I understand what my clients want and really take the time to listen to their needs and answer all questions they may have. I need to make the buyers feel confident in the new business purchase, and walk them through all the necessary steps involved”.Regarding the price of purchasing business and it’s assets, Mr Cris said it depends on the scale of the business, but mainly it is based on the businesses current profitability and opportunity for growth. Prices also heavily vary due to business type, with a typical bar starting at around $5,000 USD up to hotels that can be priced at the $300,000USD mark and upwards.Yi Fung Real estate is another agency also working on business property - but in a more concentrated way. Mr. Stephen Suen, Managing Director of Yi Fung Real Estate states “We focus mainly on boutique hotels and hotels that mainly located in Phnom Penh. But we have also extended to smaller businesses in Sihanoukville and Kampot where we can now see more demand.”Mr Stephen has found the demand for hotel and accommodation businesses to be mainly from Asian countries such as Malaysia, Taiwan and China. He goes on to state that “Investors see plenty of opportunities currently in Phnom Penh as the market is growing rapidly especially tourism industry”. Stephen believes the demand of acquiring hotel businesses has brought different investor groups ranging from private to cooperate- or even chain franchises, with a vast range of budgets.Related to challenges of selling businesses, Mr. Stephen stated that real estate agents faced difficulties in ’connecting the dots’. ‘“That’s why many other agencies don’t like this business area. It requires more preparation, cooperation and patience; as the bigger the deal the harder to settle”’Sharing Stephen’s view, Mr. Sorn Seap, CEO of Key Real Estate, said: “There are difficulties in dealing with both buyers and sellers that arise close to the sale. This is because buyers need to take time to make sure that they will buy the right business.”Mr Sorn believes buying a business property is different from buying a house. “This is due to the fact that for buying homes investment return arises in the coming years, but buying business is to get cash flow income monthly, immediately after purchase. Therefore, some agents feel more comfortable working on general business property, ”All agencies spoken to who engage in the sale of business property agree that it is a longer process compared to ‘’typical general, more residential ’sales, but results in satisfactory compensation- and is a very rewarding process. The market for these types of sales may still be considered small at the moment in Phnom Penh, but the demand is constantly growing, and is a great opportunity for agents and agencies to expand their services and skill set alongside general property sales.Want to invest in business properties with Realestate.com.kh! Want to Search forproperties for sale in Cambodia and current properties for rent in Cambodia!

The Tax Forum is EuroCham’s most popular event – with 400 attendees last year. Organized with the view of sharing professional insights and practical guidance about the Cambodian tax landscape, the Tax Forum will gather experts from the most regarded firms in town along with high level officials from the General Department of Taxation to discuss a wide range of topics impacting all compliant businesses in the Kingdom.Why Attend EuroCham’s 2017 Tax ForumWith opening remarks by H.E. Kong Vibol, Director General for Taxation, and Q&A in every session, the Tax Forum is a valuable opportunity to gain the latest information on Cambodia’s evolving tax landscape. The presentations, panel discussions and Q&A sessions will provide you with a unique opportunity to gain specific information from the leading tax professionals in the Kingdom. This year’s full-day event will particularly touch upon the below topics:-Details of recent tax changes-VAT and Withholding tax-Small tax payer issues-Tax incentives-Transfer pricing-Tax audit procedures-Q&A in every sessionTo share more about what is to be expected during the Forum, EuroCham Tax Committee Chairwoman Chhiv Kimsroy and Advocacy Manager Blaise Kilian met earlier this week with Cambodia Business Week’s host Anthony Galliano.How Can I RegisterTo make sure you don't miss the chance to gain knowledge from the experts on how to better manage tax changes in Cambodia, invest one day of your time on October 12th at Intercontinental Hotel by registering here.Find the best real estate news on Realestate.com.kh

Buying an off-plan project can be a scary concept for prospective home buyers, but it can be advantageous in terms of value for money, premium locations of property, lucrative promotions, and investment returns. Realestate.com.kh discussed these factors  in “Why buy property off-plan in Cambodia? Part 1 and Why buy property off-plan in Cambodia? Part 2 ”. This week we will explore why legal advice is necessary to ensure any prospective purchaser feels fully informed and secure about buying off-plan.Here is another major factor to consider before making a decision to purchase any off plan unit, thanks to Realestate.com.kh:   Why you should get a lawyer:Off-plan properties are more complicated than post construction real estate deals. They involve more risk and more variables to consider as there is no physically completed project to secure your expectations. Especially if you are a foreigner, there can be many complicated laws and details that impact the sale and that you are unaware of.To give a starting example, many countries have a ‘cooling-off period’ available after the off-plan contract is signed. This basically means you have the legal right to change your mind after signing the contract and back out of the deal, without major final detriment to you. The length of time you have to utilise this can differ, as can the costs associated. However, in order for you to know what rights are available to you in regards to this, sound legal advice is necessary.  Other examples of the importance of legal advice are the scenarios where the development may not actually be completed, or perhaps the finished unit may differ from the plans. This may be without intention- due to human error, or a defect that the developer was unaware of at the time of signing. However, in other situations this may be the developer's intentions, and you need to be aware of what changes developers are legally allowed to make in regards to the initial contract. Irregardless of the exact situation, if there is a change in what your contract specifies,  a lawyer will enable you to protect yourself as much as possible.Talking to a lawyer about what is typical and customary in Cambodia can also help you understand the scope of what to expect. Relatively new offerings from developers, that are gaining traction, such as Guaranteed Rental Returns may seem attractive at signing, but they are not well understood, and may be unreliable. Legal advice will ensure that you are maximising value and minimizing risk to yourself, so you can reap the benefits from your off-plan investment.Please read more article Is now the time to Buy or Rent a property? Experts share their viewSearch properties for sale in Cambodia  and current properties for rent in Cambodia!

Buying an off-plan project can be a scary concept for prospective home buyers, but it can be advantageous in terms of value for money, premium locations of property - and lucrative promotions. In “Why buy property off-plan in Cambodia? Part 1”, we explained the basic knowledge of the off-plan property. In this article, we will explore the process and associated benefits in more depth, to ensure any impending purchaser feels fully informed about buying off-plan. Here are some more factors to consider before making a decision to purchase any off-plan unitHow can I determine the value of my off-plan investment?If you are considering an off-plan purchase as an investment opportunity to generate rental income or resell, it is important to keep in mind that buying off-plan can involve a substantial waiting process. If you cannot afford to wait a minimum of at least two years before seeing any kind of income or capital appreciation, an off-plan purchase may not be the best type of investment for you.In real estate, looking at comparable properties (“comps”) is the best way to determine the value of your investment. However, when you buy off-the-plan, this is not an option, as any comps would purely be speculative. This can lead to inflated estimates of what people think the value of their off-plan property will be, especially in areas with a reputation as a “hot spot’’. In order for you to be as realistic as possible- check out the surrounding area with a very critical eye. Find out as much as you can about the area and about other properties for sale. This is the only way to get an honest estimation of what you can expect from your purchase.How long before the project will be completed?When you buy a villa, payments may be spread out up to the point of the completion date which may take up to 18 months. A condominium may take as long as 24 months, and some projects don’t even mention the specific completion date and can take up to 3-4 years. Keep in mind that some construction plans may fall behind schedule, so be prepared to wait.How to protect yourself if construction plans fall behind schedule?It’s critical when you purchase off-plan that you ask the developers for the expected date of completion, and your move-in date, and that this must be included in the contract. Your contract should also contain details about your rights if that completion date is missed. In some circumstances, laws are in place that automatically require the developer to pay penalties, even if the contract does not provide for it. However, don’t bank on that always being the case. To fully protect yourself make a clear agreement between you and the developer before signing the contract about what happens if the completion falls behind schedule.Click here for Why buy property off-plan in Cambodia? Part 3  we explore why you should consult a lawyer when purchasing off-plan, and for a summary of this approach to entering the property market. Please read more articles Is now the time to Buy or Rent a property? Experts share their viewSearch properties for sale in Cambodia and current properties for rent in Cambodia!

Running along key Cambodian highway National Road No. 4, StarLand project, developed by STAR5 Developers Pvt, Ltd. is located close to Phsar Prey Pdao, and about 5 kilometers away from Phsar Thnal Tutueng,  This project is a plot land developing project, and is the first big investment in an area that has recently been identified as a ‘high potential area- expected to see substantial growth, both now, and in the future,With this new development, there are two different different types of subdivisions available, within the project. The first option for a plot of land is 4.5m x 19m section with an attractive price tag of $6,413 USD  The second option is 5m x 20m at a price of only $8,100 USD.Not only have the developers priced their sections extremely competitively, but they also offer a flexible payment scheme; whereby hat buyers need only pay $233 USD per month(first option subdivision) and $295 USD per month(second option subdivision),without any interest attached.You will be guaranteed a hard title as an ownership right, which will enable you to use this plot of land as collateral for any prospective loan you may need. StarLand also offers a prime opportunity for capital appreciation on investment, as it is surrounded by major infrastructure including a 20 meter access road, electricity, running water, and world class sewage systems.There are further proposed amenities in the area which include international schools, clinics & economic zoned warehousing. As it stands there are already three factories that consist of over one thousand workers working each day. Moreover, there will be a Chinese market, located right next door to the project.These additional features, and StarLand’s underlying affordability make the STAR5 developers proud to introduce their investment, which they will be doing as an exhibitor in Cambodia’s Real Estate Show 2, held on 6 & 7 October, 2017. The developers will also be armed with a range of promotions and price discounts for StarLand.Therefore, for those who are interested to take advantage of the special show only offers, or if you simply want to know more detail about the project itself, sales representatives from Star Land will be located at Booth number 26 and 27 at the event to answer any inquiries.Beside this, you will also have chance to learn from several panel presentations and discussions in Khmer, Chinese, and English. Speakers and presenters will include local and international experts, speaking about relevant topics and trends, and the real estate climate in general. These seminars are expected to help investors choose the right opportunities and know the reality of real estate in the country.Find the plot land on Realestate.com.khConsidering buying property and want to join the show for free – sign up here.

As part of another lavish marketing splurge, global real estate firm Knight Frank has recently hired England’s football legend David Beckham, to help promote their country properties. This partnership has also created a platform for Beckham to pitch his new fashion range.Knight Frank has also partnered with a number of high profile ‘lifestyle curators’ including Soho House star-chitect Martin Brudnizki, the Creative Director of Gucci, and movie star Patrick DempseyIn 2007, Beckham purchased a 13,000 sq feet, 9-bedroom Italianate villa in Los Angeles for £14.2 million, opting for close personal friend Kelly Hoppen to style the interiors. The property was put up for sale late last year for  £24 million, which would provide a £9.3million gross profit.It is in this regard that many people believe that the Becks-Knight Frank partnership is a decent attempt to persuade wealthy readers to ‘Buy It Like Beckham’, following his lead into the rural market.Find the real estate for sale or rent on Knight Frank Cambodia!Find the leading real estate news on Realestate.com.kh

Choosing the perfect property to invest in is no simple feat. With Phnom Penh continuously developing- particularly in the condominium market, prospective investors are swamped by choice. This poses the question of; what factors should you take into consideration when looking for an investment property?Although every individual has their own specific requirements, when looking for a developer to align with, one factor trumps all; experience. A developer with experience in the industry and knowledge of the relevant area, will have acquired all of the necessary tools to make future developments successful, and profitable for investors. This perfectly describes Parkway Investment Co., Ltd, who have major local developments under their belt such Big A Mall and Parkway Square which have become Phnom Penh landmarks. The Parkway project, is their newest condo development, and to reach a whole new level of industry excellence, they have established a partnership with Chinese-owned Nantong City Daxin Engineering (Cambodia) Co., Ltd.The Parkway project will have a total of three buildings and is located right in the heart of Street 273, Toul Kork, which epitomizes an area in high demand. The buildings Block A 36 floors,Block B 26 Floors, Block C 30 Floor respectively and in total, there will be around 1000 units available.Everything about this condo development speaks ‘’21st century’’, from an infinity pool to a ground floor mall with shopping, dining establishments and entertainment all at your disposal. However, one of the major focal points of the collaborative developers is achieving their goal of diversification. What that means is that both developer parties see The Parkway project as a long term investment. This is why details such as the structural layout and architecture, all the way to the location chosen for the project, consider the needs of the future generations.They believe that the near future will see an influx of Phnom Penh residents choosing to live much more centrally, due to the convenience this provides and the income status of residents changing and improving. They have integrated a community feel’’ through the designing of relaxing common areas on each of the floors, to encourage social interaction. A well thought out, exciting project in the hustle and bustle of the city we all love, and an exciting investment opportunity.The Parkway projects developers and team are excited to be a part of the Real Estate Show 2 on October 6-7th to share their expertise and help you with an investment that looks to take you into the future.