Paradise; It’s something we all dream of…. The word carries with it a sense of luxury, a vision of natural beauty, and above all that warming feeling of peace. But when we think about our own version of paradise, the mind tends to wander to a place that is far away. Island holidays; long stretches of beach; blue water as far as the eye can see... What if experiencing all of this was possible, without planning an elaborate overseas holiday?This was a vision that developers Shu Jian Tian Yu Development Co,.Ltd had in mind when developing the Blue Bay Project: Sihanoukville’s own version of paradise. Don’t fall in the trap of thinking that Phnom Penh is the only city that is booming for developers and property investors - Sihanoukville has established itself as a prime hub for condo development, and nothing demonstrates that more than the Blue Bay project.From the very outset it is obvious that this development sets itself apart, as it is the only condo in Sihanoukville that is on the beach itself. All residents will get to experience 360 degree views and the highest quality facilities. The developers have taken no shortcuts here in trying to bring the feeling of a holiday to all potential residents; a sea facing pool, five star restaurant and a casino are right at your fingertips. Located five minutes from the city centre, Blue Bay is quite literally a holiday you don’t even need to travel for.Whether you are looking for a luxurious lifestyle for you and your family to live in, or an investment property for rental returns, Blue Bay has options available for all.And the best part? The developers want Blue Bay to be a real investment possibility for everybody, and have decided to come on board at The Cambodia Real Estate Show, with a special promotion. Come and see the friendly Blue Bay team on the day for an exclusive 7% discount off the purchase price when you make an upfront payment on a Blue Bay unit. This is a slice of paradise you really don’t want to miss out on.Blue Bay will be at booths 8 and 9 at the Cambodia Real Estate Show 2 to answer inquiries.Considering buying property and want to join the show for free – sign up here.For sponsorship or exhibitor opportunities at the Cambodia Real Estate Show, please contact:Khmer and Chinese: nin.kang@realestate.com.kh,   or call +855 93 552 305, +855 78 637 323English: tyler.stuart@realestate.com.kh, or call +855 12 599 669, +855 81 599 669

Following the roaring success of the first Cambodia Real Estate Show in May, the Kingdom is readily awaiting its’ return in October, with plans in the pipeline to make this show even bigger than the first.The event will include a vast range of top developers from the market, such as the renowned Xinghui Property Development (Cambodia) Co. Ltd who will be showcasing the much anticipated Star City development at the show.This 3.6 hectares, mixed-use development is located at the Russian Boulevard in Khan Sen Sok, a two Khan brothers in northern Phnom Penh – just minutes away from the Phnom Penh International Airport, among other commercial centres. It is also very close to the CBD. With a location in such a prime area  potential investors in the Star City development are offered the prospect of a very good return on their investment - especially for those that get in early.The Star City project, a new Phnom Penh landmark emerges, will have a total of seven buildings, each 12 storeys tall. The seven towers will comprise of residential units with full facilities and further include a variety of  restaurants, luxury offices, retail spaces and a hotel. Condo units within the development have a starting price of $93,000 USD. Buyers can choose to purchase a unit with cash or negotiate other payment methods with very favourable terms.Star City’s developers are offering a SHOW-ONLY DISCOUNT of up to 15% for buyers who commit to purchasing a unit during the Cambodia Real Estate Show in October. However, the excitement doesn’t end there, they are also planning to throw in a free iPhone 7 Plus Red or a motorbike. These lucky buyers will also have the chance to win a variety of electronic equipment for home-use.If you’re an overseas buyer flying in to see the show, and decide to purchase a unit , the developers will be offering a 9% discount, combined with 3 years of 6% GRR (Guarantee Rental Return) per annum. On top of this, the developers will reimburse you $400.00 to recognise the cost of your travel.  For those who are interested in taking advantage of this special offer, or who are curious to learn more about this exciting project, the representatives of the Star City development will be located at Booth 39 and Booth 50 at the Cambodia Real Estate Show to answer any questions you might have.The show will also have several panel discussions and presentations in Khmer, Chinese, and English, led by reputable international and local experts. These will give a comprehensive overview of the real estate market to fully inform investors about choosing the right investment and the practical considerations of real estate transactions.from a range of international and local experts regarding relevant topics in the real estate market today. These free seminars help investors to choose the right investment; and know the practical considerations of real estate transactions in Cambodia.Realestate.com.kh will bring a yealy real estate to Cambodia. Keep track the updated infomation of the comming Real Estate Show in 2018! Do you know over $20 million of property sold at the Cambodia Real Estate Show?   Want to invest in Real Estate  for rent in Phnom Penh with Realestate.com.kh.

During the term of a lease, both the landlord and tenant have a right to request for the court to review the rental amount if one of them considers that the circumstances have changed justifying an increase or decrease in the amount. We will see (i) that giving this power to the court may constitute a risk for the parties and (ii) that other options can be put in place for reviewing the rent in order to take into account market changes and inflationary risk.ING SophealeakCharles AMARPartnerManager          ON THE AUTHORSING Sophealeak and Charles AMAR, lawyers at Bun & Associates, advise domestic and foreign clients seeking expert advice and innovative solutions in dealing with significant and complex transactions involving both raw and developed properties.  Their work includes advising on all issues relating to real estate investment, project development, construction and asset management. Our real estate team has also hands-on expertise and experience in advising clients on matters related to economic land concessions, special economic zones, agriculture, the environment and mining. Pursuant to Articles 248 and 610 of the Civil Code, a tenant has an obligation to pay the rent to the landlord at the agreed time. In this respect, the parties are free to agree on the amount of rent to be paid and to choose the most appropriate form of rent between a fixed rent, a progressive rent or a variable rent (rent based on turnover)[1].However, one of the main concerns of landlords and tenants is how to review the rent during the term of the lease, especially when it is a long-term lease, in order to take into account market changes and inflationary risk.In this respect, both landlords and tenants benefit from a specific right to request for the court to set an appropriate amount for the rent if one of them considers that the estate prices, including rental amounts.However, Article 249 does not specify the conditions of this rent review and in particular when a party can request it.Article 249 also does not provide with a method of calculation to be used by the court to set the appropriate amount of rent. Consequently, there is a significant risk for the parties as the court has discretionary power to make these determinations while not having expertise in the real estate market, including real estate valuation.Generally, the parties do not take into consideration this risk when they are signing a lease and when they are preparing their business plan. Therefore, the provision of Article 249 may constitute a big risk as it can impact significantly such business plan if the rent increase or decrease.This rent review by the court may also constitute a risk for the bank which grants financing to the tenant (e.g. in order to finance the fitting-out works) or to the landlord (e.g. in order to finance the acquisition of the real estate property to be rented to the tenant).To the best of our knowledge, there has not been any court decision made on the basis of Article 249.However, it is recommended to expressly waive this right in the lease in order to avoid such a risk as the provisions of Article 249 are not mandatory.Furthermore, if the parties still want to be able to review the amount of the rent in order to take into account market changes and inflationary risk, they should include in their lease an indexation clause or a rent review clause.These types of clauses have been developed through practice and are now very popular in lease agreements all over the world.Indeed, some owners may be reluctant to grant a long-term lease to tenants if the rent cannot be reviewed. This is especially the case in Cambodia where the value of properties and the price of rent is changing very quickly and where landlords and tenants want to be sure that the rents amount is fair to them.circumstances have changed compared to those that existed at the time the lease was executed[1].Indeed, Article 249 of the Civil Code provides that “if the rent is no longer appropriate on account of change in circumstances, either party may request the Court to increase or decrease the rent to an appropriate amount”.The drafting of Article 249 is very broad and gives discretionary power to the court to decide (i) if the circumstances have changed and (ii) an appropriate amount of rent to be paid by the tenant.Therefore, the party which requests a rent review by the court will have to prove that the circumstances have changed from those existing when the lease was executed. It may not be difficult for a party to prove a change in circumstances when considering the fast growth in the real estate sector and the number of new development projects throughout the country which will impact real Therefore, the role of an indexation clause or a rent review clause may be very important.The purpose of an indexation clause is to take into account inflationary risk in a long-term contract. An indexation clause allows for variation of the rent automatically at specific periods and is based on a specific nominated price index to determine the amount.In Cambodia, there is no specific provision in the Civil Code which governs the indexation clause in the lease. Therefore, the terms and conditions of the indexation will depend on the drafting of the indexation clause and the parties are free to determine such conditions in the lease.However, there is no official publication at this stage in Cambodia of any index by the National Institute of Statistics relating to real estate, such as a construction cost index, a commercial rent index or a residential rent index. The parties can only refer (i) to the Consumer Price Index (which is not really adapted to the real estate market) or (ii) to a contractual index.Therefore, it is not recommended to include an indexation clause until such time as an index relating to construction costs or rental prices has been published by the National Institute of Statistics.As a consequence, the solution which is currently recommended in Cambodia is to include in the lease a rent review clause which will specify the conditions of the rent review and, in particular, the method of calculation of any adjustment to the rental amount.We have seen many landlords in Cambodia requesting the application of a rent review clause in a lease agreement, especially in leases for office premises.The role of a lawyer or a legal adviser will be very helpful to assist the parties in drafting the appropriate rent review clause.In conclusion, it is recommended (i) to expressly waive in the lease agreement the provisions of Article 249 of the Civil Code and (ii) to include a rent review clause if the parties want to review the rent during the term of the lease. This will allow the parties to take into account the market changes during the term of the lease by reviewing the rental amount.For further information, please contact us at:Bun & Associates#29, Street 294, Phnom Penh, Cambodia, P.O. Box 2326T: +855 23 999 567 | F: +855 23 999 566 E: ing@bun-associates.com / amar@bun-associates.comwww.bun-associates.comThis publication is for your information only. It is not intended to be comprehensive and it does not constitute and must be not relied on as legal advice. You must seek specific advice tailored to your circumstances.Any use of the information contained in this article or the receipt of this article is not intended to create nor does it create a solicitor-client relationship between you and Bun & Associates. Unless otherwise indicated, Bun & Associates owns the copyright of this article. If you seek to reproduce or otherwise use this article or any part of it in any way, it is your responsibility to obtain approval for such use where necessary.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...

When you sell or rent your home through an agent, you definitely need to pay a commission fee for the agent's services. The related Ministry has taken direct measures to ensure that real estate operations run smoothly in the market and benefit both parties - agents and property owners. This has meant that these fees have now been regulated in Cambodia to exact figures. So if you are a property buyer or a seller, this information relates directly to you!Below is the necessary information you must know when buying, selling or renting a property through an agent in Cambodia:Prakas No. 761: PurposeOn 7 September 2017, the Ministry of Economy and Finance issued a new Prakas on “service and commission fees for valuation and real estate services”. The new Prakas is to educate real estate agents and sellers in Cambodia to:Ensure the efficiency of management and check of charging commission fees and professional commission fees for offering valuation and real estate services.Ensure the equity and balance of interest between real estate firms and customers using valuation services.Maintain order in the real estate market by promoting competition with equality, transparency and fairness in the real estate market.Set the basic fee of charging commission fees and professional commission fees for valuation and real estate services.Valuation Fees Expectations:When 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% or a minimum of $170;Property valued between $100,001 and $1,000,000 will be charged to you at 0.10% or a minimum of $900;Property with a value between $1,000,001 and $5,000,000 will be charged to you at 0.050% or a minimum of $2,000 for the valuation report;Property with a value between $5,000,001 and $10,000,000 will be charged to you at 0.030% or a minimum of $1,500;And if the property has a value above $10,000,000, you will be charged 0.025% of the property’s value.However, some special properties such as factories and business properties have no set valuation fee. Instead, it depends on each case and the calculation formula with the pre-agreement between you and the valuation firm.Commission Fee for Property Sale and Rentals:Agents will act for you on behalf of the sale of your property. In this situation, they will charge you the commission fee at a minimum of 3% of the total property’s value after the deal is completed. However, in some special cases, you can negotiate for a lower commission fee, according to the Prakas.   Renting your property through agents, you also need to pay a commission fee which depends on the leasing term. If the duration of rent is less than one year, the commission fee is negotiable and is defined by an agreement between you and your agent. There is no fixed commission fee in this scenario. But if they rent for one year, you need to pay one month’s rental amount as the commission fee.And if they rent longer than one year, you need to pay one month's commission fee plus 25% of the monthly rental fee multiple by the rental term.For example:Leasing DurationMonthly Rental FeeCommission CalculationCommission Fee4 years $500$500 + ($500 x 25/100) x 4$1,000 The one thousand dollars is the fee you need to pay to your agent for finding you a renter. Real Estate Agent Valuation versus Bank Valuation:Real estate agents are independent entities that can offer an objective valuation of your home because they only work for the commission fee - and have no particular loyalty to the seller outside of that.Recently, a few banks have also established internal valuation teams to evaluate the client’s property if required. This might be a concern for sellers, as there is a danger that the bank might evaluate the client’s property below the market price - as it is concurrently being used as collateral for a loan. This represents a conflict of interest in some cases.  However, this depends on you - the property owner - whether you prefer to seek an independent and professional valuation service - or agree to get a valuation service from the bank for your property.  In the meantime, if you need professional valuation services to evaluate your home’s value, you also need to pay an additional fee for this service - See Realestate.com.kh's How to calculate valuation fees in Cambodia for more information. Read more articles about Finding Expat Rental in Phnom Penh on Realestate.com.khClick here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh

Q: How is the “One Belt, One Road” policy of China likely to affect the Cambodia real estate market prospects now and into the future, in your opinion?Vathana Heng - CEO, Century 21 Golden Realty“The Chinese initiative, “the One Belt, One Road” policy, is a great step forward in regards to economic integration and new trade arrangements across the Asian region. This initiative, coupled with the existing good relationships with other Asian countries, will surely result in remarkable growth in respect to Cambodian infrastructure and the real estate sector. The country will become more attractive for both local and international investors, triggering significant local development within a span of a few years.”David Marshall - Partner, Mekong Strategic Partners (MSP)“If funds are directed at infrastructural developments in Cambodia, particularly roads, ports and rail, it could make Cambodia a more competitive destination for manufacturing, and accelerate industrial development. This type of development would have clear economic benefits to the  country, which would flow into the real estate market - particularly in areas where the infrastructure developments will take place. As an example, one can look at the recent upgrading of National Road 6, and the outward trajectory of  development along that road: the housing and land prices of that area are now increasing at a very fast pace.”Ken Xi - Director, Union Development Group“The Belt and Road” policy is short for the “Silk Road Economic Belt” or the “21st Century Silk Road” initiative from China. Not only it will promote adherence to peaceful cooperation, openness, tolerance, mutual learning and interactive development, it will also focus on economic development, expanding employment, eradicating poverty, improving people’s livelihood and protecting the environment. Considering the above, Cambodia’s real estate market is likely to be at a high starting point within the development and construction sectors, gaining more global attention.”Nguon Chhayleang - CEO, Ratanaka Realty“China’s “One Belt, One Road” policy, also known as “China’s massive project,” is the strategy of the Chinese government to strengthen its economic powerhouse in Asia and all over the world. In this sense, China goes into Cambodia and ASEAN countries through government funding with the provision of funds to the government to build infrastructure. The impact of China’s One Belt, One Road policy on Cambodia’s real estate market therefore is likely to be positive. More Chinese investors will invest in the real estate and construction market.”Lately, numerous construction companies from China have come to the Kingdom, some of which are state-owned. Considering that developers will not have to pay downpayments to construction companies, this will leave them with more cash flow and encourage further investments in Cambodia. Lastly, the policy will further connect China and ASEAN countries giving a huge boost to the flow of goods.”Q: How will recent regulation changes restricting Chinese outward capital for international property transactions influence Chinese buyer flows into the Cambodia real estate market, in your opinion?Ken Xi - Director, Union Development Group“China recently introduced a foreign exchange regulatory policy with the main purpose of restricting speculative foreign investments - but the “The Belt and Road” construction project investment is not likely to be limited by this. During “The Belt and Road” Summit Forum on 14th -15th of May in Beijing, the Chinese Government established that it will create major foreign initiatives within  the areas of: infrastructure, trade and investment, financial support, cultural exchanges and others.I personally think that due to these initiatives, the future of Cambodian real estate is not only residential; but will also involve the tourism, industrial and logistic sectors. I also believe that the completion of Dara Sakor tourism and port city will attract a significant number of tourists from many countries - as well as investors, residents and workers.”Nguon Chhayleang - CEO, Ratanaka Realty“Based on my research, there have been over 1 trillion dollars of Chinese outbound investments. That capital flew out of China not just to Cambodia or ASEAN countries, but all over the world - and most of this capital landed in the real estate sector. Yet, China’s new regulations restricting outward capital for international property transactions are likely to have a negative but small impact on Cambodia’s real estate market.The Government’s restriction, as far as I know, still has loopholes - meaning that despite the restrictions, people can find a way to get the money out of the country legally. As an example, investors can open bank accounts in Hong Kong and then perform a money exchange from Chinese RMB to US or Hong Kong dollars. It is through Hong Kong bank accounts that Chinese investors can send money to invest in the real estate sector all over the world. Considering this scenario, I think that the Cambodia real estate sector will not be affected severely.”David Marshall - Partner, Mekong Strategic Partners (MSP)“Although China has introduced capital outflow restrictions for property, investments in Cambodian real estate, particularly those in retail and condominiums, would certainly not be affected. This is due the fact that many of the building projects may be under the restricted amount line (small size investment projects) and could also be funded by local banks. Some of the larger scale projects may be affected, but surely not the smaller scale ones.”Vathana Heng - CEO, Century 21Golden Realty“Personally, I believe that the new restrictions are not likely to have a negative influence on Cambodia’s real estate market. In the nature of an investor, especially Chinese investors, they will always find ways to circulate their capital overseas, and Cambodia is currently a popular investment location choice. The restriction is only with the purpose to organize the outflow funds, but opportunity gaps will always be available for the investors.”Read the latest and greatest real estate news on realestate.com.kh today!Click here for current real estate for sale in Cambodia and current real estate for sale in Cambodia

May of this year was when the first Cambodia Real Estate Show marked a milestone in the country’s real estate market. Not wanting to lose momentum, the show is set to make a comeback on the 6th and 7th of October 2017. It will be held at the NagaWorld Hotel in Phnom Penh and will provide a platform for local and foreign property investors to check out the offerings currently available in the Cambodian real estate market.  The last show attracted over 3,000 guests from all over the region, with over $3 Million worth of sales accumulated. These figures have created high demand for the second show from a number of agencies and developers in the market.“We were very satisfied to be a part of the inaugural Realestate.com.kh Cambodia Real Estate show at NagaWorld. The event enabled our team to generate a significant number of direct sales and many good quality leads for prospective buyers. We are looking forward to the next event organized by the Realestate.com.kh team,” said Mr. Laurence Hamilton, Vice President of NC Max World Real Estate Development.With this heightened interest in the second show, both returning and new Borey developers have already signed up and will be given the chance to experience even greater success at the October show!The Creed Group will once again be one of this show’s exhibitors after hitting it big in the first show, gathering over 21 unit bookings and reservations for their various projects. They will once again be presenting and promoting the Bodaiju Residences, Borey Maha SenSok, and the Arata Garden Residences.Star 5 Developer Pvt Ltd and the Boao Hongkai Group will be joining The Creed Group in order to exhibit their high-quality projects. Both developers have had various international experiences in countries like Vietnam, Thailand, Malaysia, Vietnam, Myanmar, Bangladesh, and Laos. These range anywhere from residential, commercial, to mixed-use developments. Some of the projects in Cambodia under Star 5 Developer Pvt Ltd include the Skyland Condominium, Skyland Villas, and Starland. Meanwhile, the Chinese developer Boao Hongkai Group is set to turn over the Borey Bo Ao units by the end of 2017. 50% of all the residential units have already been sold and are ready for occupancy.Renowned local development firm Orkide Villa will also be at October’s show, exhibiting Orkide The Condo amoung it various other borey projects in Cambodia. Other than the influx of interest from Borey developers to showcase their projects at the show, there will also be other activities such as extended seminars for property buyers, sellers and investors in English, Khmer and Chinese, and panel discussions on topics relevant to the market in 2017. CEO for Realestate.com.kh, Thomas O’Sullivan explains that, “during the show, attendees will also be able to watch various educational seminars which will assist property buyers and investors understanding the market, the legal obligations of property ownership, and to help them to make educated decisions when purchasing real estate in Cambodia. Education of the market and protecting our customers’ long term interests is always a prime concern.”Realestate.com.kh will bring a yealy real estate to Cambodia. Keep track the updated infomation of the comming Real Estate Show in 2018! Do you know over $20 million of property sold at the Cambodia Real Estate Show?   Want to invest in Real Estate  for rent in Phnom Penh with Realestate.com.kh.

Located in southern Cambodia, Kampot has been attracting investors’ attention in recent times owing to the latest mega development project announced for the province.The first large-scale international project slated for the region is called the French Riviera Marina; a project valued at $23.2 billion to be constructed along the coastal area of Kampot and Kep - see Realestate.com.kh's Kampot and Kep sees 23.2 billion dollars invested for more information.According to the developer, the Pallas Group, the French Riviera in Kampot will offer a secure oceanside parkland community - consisting of hotels, villas, apartments, a water park, private and artificial beaches, a golf course, a marina, an amusement park and a shopping center, among other facilities. It will also play host to schools and a health center, and its parts will be interlinked by canals and cable cars.The Pallas Group aims to make the southern province of Kampot into a world-class tourist destination. According to the company's website, the site will occupy 6,056 hectares of land alongside the gulf of Thailand, while company documents seen by Kyodo News also showed a planned smaller development in neighboring Kep Province will cover 144 hectares.The company's Vice President Siriluck Choochart said: "the French Riviera Marina and Kep Marina projects will become world-class destinations for living, business, tourism and film production. Pallas will create thousands of jobs during the construction with more than 50,000 direct and thousands more indirect employment opportunities servicing the developments."Ms. Choochart added: "each of our projects has been designed to be in complete harmony with the environment utilizing advanced construction methods and the highest grade materials. They will be the last word in exclusivity and luxury."Commenting on this project, Mr. Sok Ken, founder of Kampot Property, said: “Kampot will soon become one of the most attractive tourist destinations in Cambodia, welcoming a lot of local and international tourists every year”.“The latest mega project French Riviera Marina represents a big boost to the province’s real estate transactions; with prices of land climbing noticeably month on month. The project will turn the province into an attractive and modern city, brimming with residential, commercial and tourism-focused projects which play a vital role in bringing other development to the province.”“Other development projects such as borey, resort, hotel and entertainment will further push real estate growth in Kampot. There are many development projects underway in Kampot with major investors coming from Europe and China. In addition to European and Chinese investors, there are also many local Cambodians interested in buying land in the province,” according to Mr. Sok.Regarding land type and price in the province, Mr Sok said there are three types of land: coastal land, river land, and foothill land. The river land type is seeing remarkable price increases - with prices ranging from $60 to $250 per square meter depending on its proximity to Kampot city. The first tourism seaport in the province due to start in September will also contribute to a rise in land prices compared to three years ago.In 2016 Kampot province welcomed about 900,000 foreign tourists and the proposed tourism seaport project will likely attract more foreign tourists into the province. The $18-million tourism seaport due to come into service by 2019 is expected, by a recent ADB report, to service 360,000 international and domestic tourists yearly when it opens, and 442,900 by 2020.Mr. Mam Sereypanha, Chairman & CEO of Easy Realty Property Investment, said: “real estate in Kampot is seeing rapid growth because recently more and more local and international buyers flock to buy land and property in the province with suitable prices. Most Khmer buyers prefer to buy the land and house along the riverbank thanks to a good atmosphere there.”Kampot is especially attractive for investors now as land prices in nearby beach-city Sihanoukville are skyrocketing, buoyed by an inflow of Chinese investors who are pushing prices higher than local and non-Chinese investors are willing to pay.Mr. Brad King, of KohrongProperty.com, says that speculation from investors, in particular the Chinese, “is pushing Sihanoukville land prices higher than similar plots of land along Thailand and the Philippine Coastline.This is stunting ongoing investment on the mainland, and price speculation is becoming ridiculous. Average land prices are over $1,000 along the Sihanoukville coastline.”Mr. Mam added: “currently real estate transactions in Kampot have increased remarkably compared to the previous year with selling and buying prices rising above the rental market. There is notable investment moving in thanks to some major projects such as sea port development. In order to attract more investors into the area, we need to establish more factories and expand more tourism areas to attract more people to work and visit the province.”Read more article about How to invest in Land in Cambodia for foreignersCheck out property for sale  in Kampot and property for rent in Kampot on Realestate.com.kh

The coastal province of Kep in southern Cambodia is just 146 kilometers away from Phnom Penh. The province looks set to attract increased investment in the near future due to low land prices compared to its seaside neighbour Sihanoukville - and an undeniable potential for eco-tourism. Kep is only 125 Kilometers away from Sihanoukville and just 44 Kilometers away from Kampot, another province seeing increased interest from hospitality and tourism investors.The Provincial Governor of Kep, Mr. Ken Satha, mentioned to press that, “We are in the stage of working out a master plan project for our province’s development which will empasise eco-tourism. Although we haven’t yet got an official agreement from the Ministry of Land Management, Urban Planning and Construction, we are still progressing our master plan to develop more infrastructure. [in Kep] ”Sok Ken, the founder of Kampot Property, said: “Kep is one of the country’s attractive coastal tourist destinations, welcoming as many local and international tourists as its coastal peers. Even though there are now not many major projects underway in Kep, this attractive coastal province is likely to be the next real estate development target for foreign investors owing to its cheaper land price and tourism potential”.Mr. Sok added: “after Sihanoukville and Kampot see full development and land price reaches its peak, investors will look for similar potential investment opportunity and Kep is the most favourable place for investors’ next real estate development. At the moment, cheap land price in Kep is a very good opportunity for those investors looking for potential return investment”.“Land prices around the White Horse roundabout near the highway in Kep are currently priced between $35 and $40 per square meter; while land price around Kep market is between $90 and $150. Land prices around the coast are more than $200 per square meter,” notes Mr. Sok - Searching for land for sale in Kep is available now!Mr. Mam Sereypanha, the Chairman and CEO of Easy Realty Property Investment, said that, “at present, land prices around the coast are between $150 and $400; and other parts of the province are below $100. Buyers mostly purchase land for investment such as building hotels and resorts to accommodate tourists.”For Mr. Mam, foreigners tend to relocate from Siem Reap, Sihanoukville and Kampot to Kep province for more quiet life, buying cheaper land for residential purpose. Improving infrastructure such as road expansions around the province, together with big hotels and higher quality resorts, offer more incentives for these types of investors to move into Kep homes.  “In recent times real estate transactions in Kep have risen from 20 to 30 percent thanks to its future eco-tourism potential and the government’s willingness to develop more infrastructure in the province to attract more local and international tourists. Real estate prices in Kep might rise further, especially for those wanting to buy land for residential purpose,” according to Mr. Mam.Kep is especially attractive for investors now as land prices in nearby beach-city Sihanoukville are skyrocketing, buoyed by an inflow of Chinese investors who are pushing prices higher than local and non-Chinese investors are willing to pay.Currently, land price along the coast in Sihanoukville is much higher than that in Kep province, mainly due to the price speculation from deep-pocketed Chinese investors. This will push other investors to pull out of Sihanoukville and consider investing in similar potential coastal provinces such as Kep and Kampot with less competition and cheaper land prices - Searching for land for sale in Sihanoukville!According to Mr. Brad King of Koh Rong Property, speculation from investors, in particular the Chinese, “is pushing Sihanoukville land prices higher than similar plots of land along the Thai and the Philippine coastlines.”“This is stunting ongoing investment on the mainland and price speculation is becoming ridiculous. Average land prices are over $1,000 [per square metre] along the Sihanoukville coastline,” believes Mr. King.Real estate agents in Kep are optimistic that with the government’s plan to build more infrastructure in the province - such as road expansion, eco-tourism protections and seaport projects underway in neighbouring Kampot - there will be more tourists coming into the two provinces very soon, for instance ADB injects 1M into Eco-Tourism.More tourists in Kep will drive more residential development projects in the province such as hotels, resorts and guest houses, eventually pushing general real estate prices higher, according to the local real estate agents.Want to learn more? Check out other great resources on Realestate.com.kh now! Go to our Location Profiles and Investor Guides pages for more information!Search our current property for sale in Kep or property for rent in Kep on  Realestate.com.kh!

Knight Frank, the independent global property consultancy, has recently released a new report on the Asia-Pacific Prime Office Rental Index for Q2 2017. According to the report, the index increased 1.2% quarter-on-quarter and 0.6% year-on-year as at the end of the second quarter of 2017. There are office spaces available in Phnom Penh, you may want to know how to choose the best working space!The increase in the index was the result of rising rents in 15 out of the 20 markets tracked over the quarter. Phnom Penh topped the chart this quarter at 4.2% increase quarter-on-quarter, compared to a flat performance in the last quarter, says Knight Frank report.The completion of Exchange Square not only set a new benchmark standard for Grade-A office, but its strong pre-commitment level also boosted prime rental levels in the Cambodian capital.In the first half of 2017, the regional economies of China, ASEAN-5 and Japan performed considerably better than expected, as the IMF revised its growth projections upwards for emerging and developing Asia.Nicholas Holt, Head of Research for Asia-Pacific, says, “The pickup in global trade and domestic demand has negated geo-political risks to a certain extent, thereby providing a strong foundation for the Asia-Pacific prime office markets.” Over the next 12 months, Mr. Holt expects rents in 15 cities out of the 20 tracked to either remain steady or increase, which is the same as his previous forecast.Meanwhile, the latest report by Knight Frank Cambodia shows that as at H1 2017 the Phnom Penh office stock was recorded at more than 330, 000 sqm of net lettable area (NLA) showing a 21% increase in office supply when compared with over 271, 000 sqm of NLA recorded at H1 2016.During H1 2017, more than 48, 000 sqm of office was delivered across 8 projects with Exchange Square being the only Grade A building adding approximately 18, 000 sqm to the prime office supply. The new supply included City Tower Asia, Bred Bank building, Sokea International,  Aston Tower, Time Tower, Lone Building and 79 Office Tower.However, according to Knight Frank Cambodia report, the majority of the existing office supply remains Grade B and C buildings while Grade A office represents only 16% of the total supply. This share is expected to rise significantly as 72% of the incoming supply is Grade A space as developers shift focus from residential development to commercial development in view of current supply and demand dynamics.Overall office occupancy showed an increase of 2.5 percentage points QoQ from 82.7% in Q1 2017 to 85.2% in Q2 2017. Grade A office occupancy has reached 59.8% due to the successful pre-leasing of Exchange Square and the leasing of space within Vattanac Capital.Asking rents for prime office space as at H1 2017 ranged from US$19 to US$38 per sqm per month. The completion of Exchange Square during the second quarter of 2017 has resulted in a stabilisation of rental prices for Grade A offices leaving potential tenants in a stronger negotiating position.Ross Wheble, Country Director of Knight Frank Cambodia, expects demand for office space in Cambodia to increase over the medium term as the kingdom continues to attract foreign investment. However, the significant Grade A incoming office supply will require suitable pricing in order to attract tenants.Looking for office for rent in Cambodia? Or looking for real estate for rent in Phnom Penh? Find it on Realestate.com.kh!

In order to get the best insight into the future of the Cambodian market, one needs to examine its complexities by looking at past trials and victories, current events, and the outside factors that contribute to its growth. This is exactly what Dr. Sok Siphana, founder and managing partner ofSok Siphana & Associates, said during his presentation at the Cambodia Real Estate Show in May this year.Where does Cambodia stand?Siphana explains that Cambodia has progressed significantly in the last two decades, backing up his claim with data gathered by ASEAN and the AmCham of Singapore. It is thanks to Cambodia’s economic progress that not only has the country been listed as one of the “Olympians of Growth,” joining the ranks of China, Laos, India, and Vietnam - but also listed by the Asian Development Bank (ADB) as one of the new “Tiger Economies In Asia,” and declared a lower-middle income economy by the International Monetary Fund (IMF).  Siphana confirms that trade, which is growing in leaps and bounds, is one of the key drivers of the country’s economy. In fact, Cambodia is an active trading partner of ASEAN as well as of other major markets like the EU and the US – focusing on exporting finished goods directly to the market and importing raw materials for the industrial sector. In 2015, the export volume worldwide amounted to $8.5 billion and the import volume a whopping $10.6 billion. He explains that the increasing trade volume was due to growth in agriculture, manufacturing, and the construction boom that Cambodia has been experiencing.“For 20-something years we have managed to come from a war-torn country - with nothing - to being an Olympian of Growth. So, we must say that we are doing very well,” Siphana confirms.He also attributes the growth to the accession of Cambodia to the WTO; explaining that in 2004, Cambodia joined the WTO and that is when the country opened up the whole economy, and the effect of this economic liberalization begun to take place. And that explains why Cambodia is now doing so well. But the question remains. With everything happening now, will Cambodia remain a growing economy?How are world events going to affect the Cambodian economy?Siphana paints a backdrop using world events to portray changes that may occur in Cambodia in the near future.He explains that Donald Trump’s victory will cause divisions - as a result of his “Make America Great Again” movement; and that America’s gain may be at the detriment of others. The relationship between the US and North Korea is also worrying. A threat of nuclear war has the world unsettled.A glimmer of hope, however, lies in increased Chinese investments – especially with the Belt and Road Initiative well underway. Siphana assures that while Cambodia is not exactly in tranquil waters, because of some regional issues, this isn’t enough to cause an egress in the economy. Nonetheless, he explains that on the issues of the South China Sea, the willingness of President Duterte to open a dialogue with China has resulted in less tension at the ASEAN summit, showing the possibility of more stable waters to sail in future.Interest in ASEAN remains high with some people still wanting to invest in this potential association. In this context, Siphana praises Cambodia’s economic performance and potential, saying: “for Cambodia we’re not doing so bad. There’s still some serious investors very keen to invest in the country. We still have a very strong attraction in terms of people who come to invest in ASEAN. And people in ASEAN invest in Cambodia.” Still, some of Cambodia’s biggest investors so far come from China, Japan, Thailand, Korea, and the U.S.What policies are being developed to strengthen Cambodia’s economy?The vision of the Royal Government of Cambodia is to create a modernized industrial make-up for the country - a make-up that focuses on being a skills driven industry rather than a labor intensive one. With this aim, Cambodia needs to strengthen its linkages with the regional and global value chainsand deepen its integration into regional production networks by developing clusters of interconnected manufacturing production. Furthermore, Cambodia needs to strengthen the competitiveness and productivity of its domestic industries by moving toward modernizing technology and knowledge based industries.Trade, one of the biggest industries in the country, has thus far shifted from focusing on wood products and textile towards industry and technology, paving the way to a steady progression toward diversification, according to Siphana.He concludes by saying that there is a tendency to look at Cambodia as just a small market - but clarifies that owing to Cambodia’s openness to international investment, “even though we are a small market, we are nonetheless now a gateway to ASEAN - which is a huge market.”Find out why regional investors and developers opt for Cambodia! Or looking for the property for rent in Cambodia?

As foreign direct investment in the country grows stronger each year through various industries, the real estate sector is now also becoming an attractive market for foreigners. But unlike other countries, ownership in the Kingdom is bound by numerous laws.Realestate.com.kh caught up with Matthew Rendall – Senior Partner at SokSiphana&Associates and a member of Zicolaw – to get a clear picture. History of Cambodian Law:Much like the country itself, Cambodian law has evolved through time. Rendall explained that “Cambodia used to be a French protectorate way back when it was a civil law country and it has come back to that over the years. Cambodia “retained the civil law even after independence”.From 1975 to 1989 ownership in Cambodia was not allowed at all. However, it was reintroduced in 1989 but only for residential properties; it was not possible to own land in Cambodia legally until 2001.Essential Laws on Foreign Ownership:Rendall suggests that foreign investors look at Cambodia’s important foreign ownership laws before coming to invest in the Kingdom. Those laws include the 2001 Land Law, the 2007 Law on Commercial Enterprises, the 2010 Law on providing foreigners with ownership right in private units of co-owned buildings, and Sub-decree 82 on proportion and calculation of percentage of private units that can be owned by foreigners in a Co-owned Building. The introduction of these laws allows foreigners to acquire interests in properties using various methods.Strata Titles:Strata titles allow foreign ownership of up to 70% of the co-owned buildings, provided that foreigners do not own any real property on the ground floor. However, Rendall stresses that strata titles are not applicable for all buildings. Older buildings before this law was enacted would have to reapply as a co-owned buildings in order to legally issue strata titles. Yet reapplying will present a dilemma due to the land matter. He explains, “The reason was that the person on the ground floor, as far as they and the law was concerned, owns the land. So, if that building falls down, the only person with anything is the ground floor apartment owner because they own the land. The people above merely own the airspace. So, there was value in having the ground floor apartment because their name was on the only real title, the ground floor. The rest are simply recognized as possessors at the municipality of their apartments above it.”He continues, “So, if I wanted now to own the apartment legally, I would have to convince all those apartment owners to hand in their title deeds; we’ll go down to the Ministry of Land and re-register this entire block as co-owned; we’ll issue title deeds. However, we now all have exactly equal value because under the new system, nobody owns the land. The land is owned by everybody.”The problem here is that the ground floor apartment owner may not be too keen on losing 90% of the land ownership.Company Structure: Is establishing Establishing a Landholding Company: The Best Mechanism for Acquiring Foreign Ownership of Property?According to the 2007 Law on Commercial Enterprises, a foreign entity may take an ownership interest in land through the formation of a company, provided that 51% of the ownership is by a Cambodian citizen.Foreigners may opt to set contracts and documentation in place such as a powers of attorney, proxies, and shareholder agreements to safeguard their investment and to obtain control over the company, says Rendall. However, foreigners can also further protect their investment by forming two companies.He explains it’s much safer and efficient to acquire property with a Cambodian Citizen through the company structure, gain control over the company legally through proper documentation, and then lease the property to a second company that you’ve created and what is 100% owned by the company. By doing so, the business aspect is separated from the land aspect of your investment.Cambodian Citizenship:Another way to own land in Cambodia is through citizenship. With this, Rendall explains that is common in many countries, foreigners can apply for citizenship through investment; a minimum investment of $250,000 will entitle a person to apply to become a Cambodian citizen, thereby liftingany restriction the foreigner may have had in terms of owning land. A lot of companies send delegates or representatives, invest the amount required, and then have that representative apply for citizenship in order to acquire the land directly.He adds $250,000 might not seem a lot of money, but during the time the law was created, this was a different value (than it is today).Although complicated at the first glance, the Cambodian legal system offers many ways for foreigners to legally own property. However, in order to avoid any unpleasant situations, we strongly recommend to seek the help of a professional and reputable law firm before committing to any investment.Find out about foreign ownersip in Cambodia on Realestate.com.kh! Or looking for land for sale in Phnom Penh? Check out with Realestate.com.kh now!

On the 20th of August, 2017, Creed Group will officially open the “ARATA Garden Residences” (ARATA). Creed Group is a Japanese real estate firm with more than 20 years of experience in the real estate market of Japan, and has been investing in the growing real estate markets of Malaysia, Vietnam, Myanmar, Bangladesh, Laos and Cambodia since 2012. ARATA is Creed’s third project in Cambodia -- made possible with the help of local investor “Triple Gem Assets Co., Ltd.”Creed Group's first project is the condominium “Bodaiju Residences”, located just opposite of the Phnom Penh International Airport. The second project is “Boray Maha Sensok”, which will be completed at the end of 2017.Creed and Triple Gem have started cooperating with another Japanese developer “Hoosiers Holdings” for ARATA. Hoosiers has developed 261 projects and 20,000 units since its establishment in 1994. It is listed in the First Section of the TSE (Tokyo Stock Exchange). Creed and Hoosiers will be bringing the “Japanese way” of managing, construction quality, and landscape design into Cambodia.ARATA is composed of more than 500 units for phase 1. It provides various selections of house types such as Shop Houses (A&B), Luxury Link Villas (A&B), Twin Villas, Jack Villas, Queen Villas, and King Villas.It also offers a variety of facilities such as a swimming pool, a kiddie pool, a playground, a coffee shop, a mini mart, gym, a badminton court, and a regular shuttle bus to the 2nd AEON Mall. The projects focuses on being a modern and fresh living environment. It's a large-scale landscaped development that can sustain the thick and abundant greenery for a very long time. This results in creating a more pleasant environment for the entire district over the years. ARATA means “New” in Japanese and "Thmey" in Khmer, inspired by “Phnom Penh Thmey”.One of the advantages of ARATA is its remarkable location. It is located at Banla Saet Village, Sangkat Khmounh, Khan Sen Sok, Phnom Penh, which is one of the fastest growing areas in terms of land price and population, and on the 40-meter wide road according to Phnom Penh’s master plan. Moreover, it is only about 800 metres away from Hanoi Boulevard and has easy access to the 2nd AEON Mall, Makro wholesale, and other business establishments.Besides its location advantages, the iconic architecture is designed by Japanese Architect Hisaya Sugiyama, principal at Quincy Studio Inc. One of his outstanding concepts is the park along the 40-metre-wide road. The 1 hectare of the park is uniquely landscaped, running vertically from east to west. And the ground is purposely uneven to create the walking trails and the shades. It is designed for the residents and the neighbours to gather and create a community space where they can walk, sit on the bench and chat, relax, dance, or play sports on the grass.Get more information about ARATA Garden Residences and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Looking for your first home is a big step in your life. Scouting for a good location, picking a type of house, fixing your budget, then finally moving into the property is a long and often stressful process. And while you may have found a good home, it may come empty and needs a bit more personalization. This will be another task that will take time, money and attention.Below are a few basic tips for first time homebuyers to help decorate and settle into your new home, thanks to Realestate.com.kh:Interior design concept:Before you get started, consider what your design concept will be and what you personally want  for your house. In line with this, there are three type of concepts you can select, including traditional, modern, and contemporary. Whatever concept you choose, the overall goal should be to turn the empty space into a flexible and multi-functional area.In Cambodia, people believe in feng shui, and believe this layout offers more luck for the family. So, you should consider this concept when renovating and decorating in Cambodia - as it will boost your chances of a higher resale of the property in future.Budget plan:Homeowners will always need to have a budget plan before considering any plan of the interior design of the house. You can have a design firm check to see if the master plan will fit into your budget. A render sketch is first designed by the interior designer to show the property owner for approval. After this, a clear quotation is issued. You can now use this to cross-check if the design fits your budget.  Normally, for this service, a minimum price starts at around $4,000 in Cambodia. However, you can spend more or less depending on the type of materials you prefer.Materials:Material is a significant factor that can help your house become more attractive. There are many types of materials you can choose from, including either recycled or modern material. In Cambodia, however, recycled material sometimes costs higher than modern materials due to the lack of resources - including equipment and specialists. The quality of materials determine the price of each material type.Contractor and interior service:Choosing an interior design firm doesn’t mean you choose the contractor. You can choose the interior firm for both designing and construction services. But you can also hire them separately. As a suggestion, homeowners should avail of both services from one company because it’s easier in terms of coordination. Hence, the process is bound to finish on time and to spec.Keep your eyes on the interior designer firm:You can let the contractor do their work, but you need to check on the progress of the design in order to make sure everything is done correctly and that everything will be completed as scheduled. Ensure that the materials you ordered are not being exchanges for cheaper replacements, and make sure that workers are not cutting corners in the work.Find out more about making the most out of your property investment on realestate.com.kh today.

Knight Frank Cambodia, a leading independent real estate consultancy in Cambodia, released its latest half yearly commercial and residential report for 2017. The report highlights 4 main sectors: office sector, retail sector, serviced apartment sector and condominium sector. Phnom Penh office sector:The Phnom Penh office space supply saw a 21 percent rise in the first half of 2017 compared to the same period last. Almost 50, 000 sqm of office space was delivered across 8 projects with the majority of the supply remaining Grade B and C buildings. Grade A office space represents only 16% of the total supply. According to the Knight Frank Cambodia report, as at H1 2017 the Phnom Penh office stock was recorded at 330,085 sqm of net lettable area (NLA) showing a 21% increase in office supply when compared with 271,913 sq m of NLA recorded at H1 2016.During H1 2017, 48,217 sqm of office space was delivered across 8 projects with Exchange Square being the only Grade A building adding approximately 18,000 sq m to the prime office supply. The new supply included City Tower Asia, Bred Bank building, Sokea International, Aston Tower, Time Tower, Ione Building and 79 Office Tower.With the share of Grade A office space supply expected to rise up to 72 percent as developers shift focus from residential to commercial development, rental prices for Grade A office space remain flat.As at H1 2017, asking rents for prime office space ranged from US$19 to US$38 per sq m per month. The completion of Exchange Square during the second quarter of 2017 has resulted in a stabilisation of rental prices for Grade A offices leaving potential tenants in a stronger negotiating position, according to the report.Regarding office sector outlook, the report predicts the office stock to reach 529,143 sqm within the next 3 years increasing the supply by 60%. Demand for office space is expected to increase over the medium term as Cambodia continues to attract foreign investment.However, the significant Grade A incoming office supply will require suitable pricing in order to attract tenants. Grade B and Grade C office buildings are likely to maintain their occupancy levels in the region of 85%.PHNOM PENH RETAIL SECTOR:At present, Phnom Penh retail is the most dynamic sector with new retail formats and operators continuing to enter the market. New entrants mostly came from the United States and Europe.According to the report, Phnom Penh’s retail sector is expanding with 267,870 sqm expected to come online within the next few years bringing the total supply to 430,275 sqm.The incoming supply will likely impact rents as landlords seek to retain existing tenants with prices and rental average asking rents for prime retail units (below 100 sqm) in prime shopping centres remaining flat. However, Vattanac Capital Tower maintained its leading position in terms of prime rents– up to US$70 per sq m per month, says the report.  Lower rates were noted in secondary malls like Sorya Center Point and depend on a number of factors such as tenant brand, the size of the unit and its location within a project. They vary from US$10 to US$22 per sqm per month for anchor tenants while the smallest units below 10 sqm find tenants for a rent of up to US$250 per sq m per month. Ross Wheble, Country Director of Knight Frank Cambodia, anticipates that the remainder of 2017 will continue on this upward trend with food retailing expected to account for the largest share of the market.Mr. Wheble points out that in addition to the incoming retail supply, the arrival of new international retailers is another sign of the potential that Phnom Penh is holding. European and American brands are gradually entering the market increasing the retail offer.PHNOM PENH SERVICED APARTMENT SECTOR:With new entrants to the market including one of the biggest international operators of serviced residences worldwide, The Ascott Limited, the serviced apartment sector in Phnom Penh is set to become more competitive with concern of the glut in the market.  According to the report, eight serviced apartment buildings completed during H1 2017, bringing the total supply to 4,531 units being monitored in Phnom Penh, recording an increase of 6.9% compared to Q4 2016.The increasing supply has placed downward pressure on monthly rental prices (figure 9) with central locations commanding an average monthly rental price between US$18 to US$30 per sq m, while average rental prices for mid-tier units fall between US$9 to US$16 per sq m per month as at H1 2017, says the report.Despite concerns of an oversupply, the serviced apartment sector recorded an occupancy rate of 70% over H1 2017. PHNOM PENH CONDOMINIUM SECTOR:Over the last five years, Phnom Penh condominium sector has been seeing an increase in supply, especially in the high-end segment thanks to its relatively attractive rental yield.According to the report, condominium supply was recorded at 4,794 units as at H1 2017 with an additional supply of 1,392 units. Despite an oversupply situation in the high-end segment, condominiums that are priced below $50,000 are recording strong sales. Commenting on this, Mr. Wheble said: “buyers are adopting a wait and see approach that can be partly attributed to the uncertainty surrounding the general elections in 2018. Prime locations like BKK1 and Tonle Bassac still command the highest rental rates as demand still outstrips the existing supply. In view of a slow down in the market, several developers have ceased sales and are returning buyer deposits.  The average monthly rent in prime locations ranges between US$16 to US$26 per square metre while outer areas command rents between US$9 to US$12 per square metre.  With regard to the condominium sector Outlook, Mr. WHEBLE stressed that the challenge in attracting buyers requires developers to provide better quality and well managed projects. The anticipated oversupply of high-end apartments and the uncertainty surrounding the upcoming general elections have impacted on the condominium sector.Download the full report today!Find out the best real estate news on Realestate.com.kh

Located in the northern part of Phnom Penh City, Toul Kork is increasingly attracting both expats and locals, largely because land prices in BKK have skyrocketed in recent years. The peak land price in BKK has changed newcomer’s mind by choosing to move to cheaper but potential location such as Toul Kork. Currently, Toul Kork is becoming more popular for newcomers, especially foreigners seeking permanent residence in Cambodia.Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork has been regarded as a great residential area for a long time ago with many special characteristics. It is considered as the second best residential area after BKK, the best location in Phnom Penh. Recently, there are a few new projects underway such as The Gateway and Phnom Penh City Center, which contributes to Toul Kork’s attractiveness.”Mr Sorn explained that the development process with regards to residential and commercial operation in Toul Kork is quite similar to BKK. Therefore, how BKK has developed will apply to Toul Kork. In the near future, we will have another BKK area in Toul Kork.”Houses for rent and sale in Toul Kork vary in price based on locations, sizes, and functions. Villa house, in particular single villa house, is a good option for office spaces. But if you want to use your property for commercial purposes, you can consider flat houses which can be used as a shophouse.According to Mr Sorn, “Prices of Villa house range from $700,000 to $2 million. Prices of flat houses along the main road ranges from $300,000 to $600,000 while prices of those along the small roads range from $100,000 to $200,000”.“Renting price of villa house ranges from $2,000 to $5,000 per month, while renting price of flat house or shophouses ranges between $1,500 to $2,500 and $350 to $650 per month for the main roads and small roads respectively.”Check out all type of property for sale and rent with Key Real Estate.  A report released by VTrust Appraisal says that there was a slight increase in land prices in the area from 2013 to early 2016 which moved average rates from $2,150 to $2,530 per square meter. Prime commercial streets have also been reported to reach up to $5,750 per square meter in central Toul Kork. The lowest land price average comes from the Boeung Kak Ti Muoy Sangkat, at $1,820 per square meter. The highest land price average comes from the Phsar Depou Ti Bei Sangkat, at $3,630.“Over the last decade, Northern fringes of Tuol Kouk district were the first main destination for residential relocation because of its available large portions of vacant land and a neighborhood of the central parts of the capital,” according to the report.Specializing in all types of property for rent and sale throughout Toul Kork area, Key Real estate has more than 10 years of working experience with both local and international teams.With a vision to provide the best quality services for all property valuation in Cambodia, Mr Sorn concluded that Key Real Estate strives to offer its clients better and more reliable quality service, aiming to contribute to the growing Cambodia’s real estate sector. Key Real Estate is your win-win partners!”Learn more about hot location for home buyers in Toul Kork!

Everyone wants a good home, whether for residential or business purposes. The ideal situation therefore, is to find a home that caters to both needs. Luckily, Borey Bo Ao has the flexibility for both types of usage without compromising the modern living experience.Located in Sangkat Steung Meanchey, Khan Meanchey, Phnom Penh, Borey Bo Ao includes shop houses, flats, and condominiums. Just 300 meters away from Veng Sreng Boulevard behind Phsar Ekreach 3, Borey Bo Ao is developed by a Chinese company, covering over 53,000 square meters of land area.Sales Manager at Borey Bo Ao stated: “This area features many people, but not many residential projects. The location of Borey Bo Ao is very convenient for both living and commercial activities. This project is ideal for those who want to live and generate income from the place”.Close to Borey Lim Chheang Hak, schools, hospitals, banks and surrounded by a many factories and industrial sites, the location of Borey Bo Ao, has what it takes to be a high potential business area.  Shop houses in Borey Bo Ao have already been completed and are set to be handed over to the customers in October 2017. Around 50% of shop houses have already been sold and after the first handover, the company will further develop 284 units of flat houses and shop houses.Meanwhile, the 2,070 condominium units will come soon after the completion of flat houses, according to Ms. Jin.In terms of pricing, Jin said: “Shop houses have a starting price of $180,000 and can go up to $185,000 while flat houses start at around $140,000.”Customers can enjoy convenient payment options by paying either directly or through a bank. A 4% discount is offered to those opting for a one-time payoff with a hard title as an ownership right, she added.With Borey Bo Ao becoming a high potential area in the near future, Jin concluded, “For those wanting to live in a less crowded place but with many business activities, purchasing a home in Borey Bo Ao is the best choice.”For more information, please visit the Bo Ao showroom or contact the project's sales team by clicking on “contact developer”.Get more information about Borey Bo Ao and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Launched in early 2016 and located within Phnom Penh Central Business District, The Gateway, developed by TACC (C.R.) Ltd., will be a freehold mixed-use development that includes residential, retail, and office options for local and international investors. The developer has over 40 years of construction experience and 15 years of real estate experience in Singapore, and is currently listed on the Singapore Stock Exchange.The project strategically located along Russian Boulevard is close to important establishments and amenities such as The Council of Ministers, Ministry of National Defence, the Thai-managed Royal Phnom Penh Hospital, a host of world-class international schools and prestigious universities, and grand financial landmarks manifesting the heart of Phnom Penh. One future development next door to The Gateway is Parkson Mall, set to become Cambodia’s premier retail mall complex.The Gateway is comfortably surrounded by momentous development plans, including the Phnom Penh City Center development site, a huge tract of land under development on the former Boeung Kak Lake - soon to become themost glamorous area in the country. The Gateway will also sit along the very first MRT station in Cambodia. According to the Ministry of Public Works and Transport, the MRT will be inaugurated in April 2018, transporting passengers from downtown to the international airport in just 20 minutes.Just 15-minutes drive from Phnom Penh International Airport, The Gateway is set to reach completion by December 2019, and will be the tallest building between the airport and the Prime Minister’s office.Oknha Ly Kun Thai, CEO of The Gateway, said: “customers who buy units in The Gateway will be able to fully enjoy three main aspects of life: “live, work, and entertain” concurrently, because it is a mixed-use development project - which will mean less time travelling in the city. The Gateway is set to significantly transform the urban landscape of Phnom Penh city once completed in late 2019.”Commenting on the whole project, he added: “The Gateway has an ample 7-storey car park and 2-storey retail podium, a 39-storey residential tower, and a 36-storey office tower. It will also feature a sky terrace and a basement car park in its residential tower.”The Gateway will also provide a number of common facilities such as a swimming pool, spa and sauna room, library, gymnasiums, barbecue area and green space to embed elements of a modern lifestyle for all buyers.Regarding The Gateway’s customers, Oknha Ly Kun Thai said: “The Gateway targets both local and international customers, most of whom are business people. For local customers, we target the middle to high-income class and our international customers who have already bought the units include Singaporean, Malaysian, Chinese, HongKong, Taiwanese, Indian, Indonesian, Swiss, and Canadian nationals. “This will establish an epic environment and a unique experience that cannot be found elsewhere in Cambodia.”Oknha Ly Kun Thai added: “Our location is in the financial area in the heart of Phnom Penh, and close to main buildings along Russian Boulevard. For residential and office space, a large percentage has been sold to customers already. Prices of residential space start from $150K+++ per unit and commercial space from $250K+++ per unit.”The residential units will range from one to three bedrooms and will have luxurious fittings and private balconiesto match. Residents will be able to enjoy a comfortable lifestyle and at the same time the great views of the Mekong River and the whole city. Besides this, The Gateway offers acuminous investors up to 12 percent guaranteed rental return for two years.The office tower will have a helipad, double-glazed glass for heat reduction, 8 elevators, and a separate fire exit for maximum safety. Uniquely, The Gateway offers the only Grade A offices for sale in the city - all of which will be elevated in height and provide comfortable and well designed space for a modern working environment. Similar to residential unit purchasers, office units are offered an even more extravagant GRR, which is equivalent to 16 percent in two years.Oknha Ly Kun Thai also gave a final remark expressing his pride on major strengths of The Gateway Project: including the excellent location - a rising economic zone with huge future potential; a magnificent project - with comfort, facilities, and quality; and the project’s motto - live, work, and entertain. With the necessary approvals from relevant authorities and compliance with applicable regulations, the completion of the project is an absolute certainty. It is also an assurance to which The Gateway is proud to provide to all purchasers.Get more information about The Gateway and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Singapore Club Cambodia will celebrate the Singapore National Day 2017 in Phnom Penh next week. This special event, to be held at Hall A & B on Koh Pich Island, will start from 11:00 am to 5:00pm on Saturday 12th August, 2017. The event will showcase all thing Singaporean - a showcase of the culture and related businesses active in Cambodia.The Singapore Club Association is going to invite everyone - including the public, real estate sector professionals, business owners and other stakeholders involved - to join the celebration. Those who attend this event will get the opportunity to know more business, product and services from Singaporean in Cambodia.  Mr. Ryan Ong, Organizing Chairman of Singapore National Day Cambodia, said that, “the Singapore Club Cambodia will gather the media, Cambodian VIPs and a few celebrities from Singapore to join the event. With decisions from the committee of Singapore Club Cambodia (SCC), we hope invited around two to three thousand visitors and incorporated sectors like Food & Beverages, Services, Hotels & Accommodation, Education, as well as real estate businesses & brands in Cambodia that are founded or managed by Singaporeans. All will set up a booth at the exhibition hall.”Mr. Ong confirmed that the event will include a strong representation from the F&B sector, so as to provide the visitors with a range of fine food and drink - which is the most important feature of any successful event for Singaporeans. There will be a few lucky draw segments and many attractive prizes to be given away including Silkair ticket for two to Singapore  The sponsors of the celebration are Yeo’s and Tiger beer. For visitors, tickets are just $2 and include includes lucky draw, a beer and a can of soft drink from Yeo`s.Find the best real estate news on Realestate.com.kh

The recent news of an innercity-to-airport rail link has been welcomed by Cambodia property developers, especially those with projects situated near the proposed track. According to recent press, upon the railway’s completion in 2018, trains will be able to take passengers from the central city to Phnom Penh international airport in just 15 minutes travel time.During a handover ceremony last week in Phnom Penh for mechanical equipment donated by China, Transport Minister Sun Chanthol said: “this project will reduce traffic jams leading to the Phnom Penh airport and prevent people from being late to their flights. Thus far, 250 meters of the rail track has already been constructed by the country’s railroad company, Royal Railway.”“Four $1 to $2 million trains purchased by the company from Mexico will run along the route. During the first month of operation, rides will be free of charge,” added Mr. Sun.Commenting on this, John Guiry, CEO of Royal Railway, told local media that construction had begun about six weeks ago and was expected to wrap up by April 2018, with about 10 to 12 meters being laid down each night.”The project’s budget was confidential, but was “part of a current maintenance budget” for the company. Tickets would likely cost between $5 and $7, but the price would be set closer to the launch, added Mr. Guiry.By aiding traffic congestion and also shortening travel time to and from the airport, this new railway project is expected to further boost property investor’ confidence in the capital, in particular for projects situated along or near Russian boulevard.  Johnny Chan, Sales & Marketing Director of Creed Group, the developer of the Bodaiju Residences project, said: "this new announcement gives current and prospective investors in the Bodaiju project even more confidence that they have made the right investment decision.”Mr. Chan added: “the proposed rail line will offer residents of Bodaiju a fast and direct link to the inner city, and will mean that congestion along Russian Boulevard will be controlled into the future. This represents great news for developers such as the Creed Group with projects situated along this access way to the city."Meanwhile, Chenyi Chiu, General Manager of TK Royal One, said: “the passenger railway transport line is a significant signage of a modern city. Although it has been expected for long time, there has never been any confirmed plan for the Phnom Penh city passenger railway transport. The announcement in this July not only proves that Phnom Penh is now transforming into a modern city but also opening the new era of the railway economy.”  “The city development is going to follow the railway network to expand and start from the station along the railway. Sitting on the center of this main railway route, TK Royal One owners and tenants will be able to take the advantages to enjoy the convenience of new lifestyle and to gain the future property value appreciation. Besides, as a foreign real estate developer, seeing this transportation infrastructure indeed makes us have more confidence in Phnom Penh’s property market. However, we also look forward to seeing the railway network to expand more in the near future to make the city development much faster,” Mr. Chenyi added.Oknha Ly Kun Thai, CEO of The Gateway project, said: “this new railway is quite essential for Cambodia because Mass Rapid Transit (MRT) will increase commercial developments and boost the country’s economy as a whole. In general, the MRT is fast, reliable and efficient to all citizens living in the city. Therefore, having MRT helps reduce the number of vehicles on the road while bypassing traffic congestion during rush hours in the city, resulting in a shorter commute.”“An efficient mode of transportation is the key to city development that helps boost general commercial activity. This is good news for Cambodia’s property market as better and improved transportation infrastructure in the area will boost property prices and rental yield,” added Mr. Ly.Located along the Russian Boulevard and only a few hundred meters from the railway station,The Gateway is one of the mixed-use development projects in Cambodia to get major benefits from this new railway in terms of travelling time towards the airport and inner-city.Mr. Ly explained that the Gateway’s residents will enjoy great advantage of traveling to and from Phnom Penh’s International Airport in a very short time. Meanwhile, rail travel is a lot safer compared to road travel due to proper security monitoring throughout the system.Learn more about Investing in Cambodia on Realestate.com.kh

Cambodia’s former cinema buildings were indicative of the country’s famous architecture before the civil war. However, at the present time, most of the young generation is not aware of these buildings. This is the main reason “Amazing Cambodia” started to collect all existing old cinema photos - to allow Khmer people, both old and young, to be aware of the great architecture that existed in the past. Amazing Cambodia is a Facebook page whose purpose is to collect Cambodian historical images, music, films and other things of cultural importance and share them to everyone domestically and internationally.In an interview with realestate.com.kh, Mr. Srin Sokmean, founder of Amazing Cambodia, describes the way and why he compiles all those old cinema building photos.Why do you compile all these old cinema building photos?The reasons why I have been collecting those vintage images of Cambodia’s former cinema buildings is because they are one of my most favourite research topics. I am passionate aboutCambodia’s pre-1975 era of glorious arts and culture, and those numerous cinemas - especially the over 30 cinemas based in Phnom Penh that truly reflect that remarkable period. On the other hand, I heard the names of some of those cinemas in my childhood during the early 2000s, such as Angkor cinema and Kirirom cinema - so this made me curious to find out where they were now and what these buildings looked like.When did you start compiling all these old cinema building photos?First, I bumped into some magazine articles with several photos of old cinemas in Phnom Penh while I was reading one local magazine, “The Popular,” around 2004-2005. I was a big fan of that magazine, and I learned a lot from the articles about the transformation of those buildings at that time. Then I started to collect the magazine for further personal research. In 2010, I began using the internet, and since then it has become my greatest tool for research on the topic.Which is your favourite old cinema building photos? Why?My most preferred images are the ones from 1960s and early 1970s that depict the great architectural structures of the buildings and big crowds of audiences waiting to buy the tickets because those images illustrate the connection between the buildings and the successful film screenings in Cambodia back then. One of them is a vintage image of the front of Proum Bayon Cinema with a French movie poster extracted from “Cambodge d’Aujourd’hui” newspaper published in December, 1958.Could you briefly describe all these old cinemas?Based on my research data, there used to be approximately 36 cinemas in Phnom Penh and some others in the provincial towns throughout the country. These cinemas are divided into 4 timeline groups: (1) Pre-1950 such as Ciné Star, Lux, Eden, Casino, Majestic, Kim Phong, Kim Son, Trung Quoc and others mainly based in Phsar Kandal and Phsar Chas colonial zone. (2) 1950s such as Phnom Penh, Phnom Pich, Vimean Soursdey and Proum Bayon (3) 1960s such as Hemakcheat, Kirirom, Mkot Pich, Sar Proum Meas and 1970s such as Vimean Tip, Santepheap and Monoroth (unfinished). How do you feel about the demolition of the old cinemas - to be replaced with new ones?Honestly speaking, I really feel sorry for such big losses. Though we cannot prevent the city from rapid modernization, we could have renovated those heritage buildings and converted them into new facilities, such as museums, art galleries or performing arts theatres, in appropriate ways. For instance, we could have just repainted and repaired the most dilapidated areas.Meanwhile, the special architectural features should have been preserved - regardless of the new function that the building was to serve.What is the benefit of compiling all these old cinema building photos?Personally, I think that these kinds of historical photo archives are beneficial to Khmer nation. First of all, as most of the cinemas have gone, this collection functions as a mirror reflecting the number of cinemas we used to have in the past and how powerful our local film industry was before Khmer Rouge. Second, it also indicates the timeline of the building functions over decades. Third, it can be seen as a useful source for both local and international architectural students and cultural researchers.Do you have any special plan for all these old cinema building photos? Do you have anything to tell younger generations?I am starting to cooperate with Roung Kon Project, a group of architecture students from RUFA, to work on a research project on 5 former cinema buildings in Phnom Penh for a book publication, but we are just at the beginning.I have also established a photo exhibition in which some of the photo collection have been displayed. At the end, I want all Cambodian young generations to learn the historical values of those priceless buildings. Once they have gone, nothing can get them back, so the one thing we can do is to recall the past stories through our photographic evidence as well as our knowledge.Find out the best real estate news on Realestate.com.kh