Phnom Penh's skyline is set to welcome a new addition with the opening of the hospitality resort Wyndham Garden, located within the eagerly awaited UC88 Tower project by UC Group.An agreement-signing ceremony was held at the Sofitel Phnom Penh Phokeethra, marking the beginning of a joint venture between UC Group and Wyndham Hotel & Resort on Monday, 8th April 2024.The signing ceremony featured Mr Chhun Heng Leng (left), Mr Chhun Sambath (centre) from UC Group, and Mr Eudo Chan (right) from Wyndham Hotels & Resorts. (Credit: realestate.com.kh)The signing ceremony was held at the Sofitel Phnom Penh Phokeethra. (Credit UC88)The UC88 Tower offers premium residences, featuring a variety of units including studio, 1-bedroom, and 2-bedroom apartments with elegant interiors that residents can anticipate.Moreover, it offers a suite of high-end amenities, including an infinity pool, jacuzzi, gym, sauna and an outdoor recreational area. The 46th floor will host an expansive sky bar offering panoramic views of the Mekong River and a helipad on the rooftop adds to the exclusivity of this project.The mixed-use project development also encompasses dedicated Google-styled offices on several floors. UC88 Tower reached its topping-off milestone in November last year and is scheduled for completion in 2025.Fully furnished living room and bedroom display at UC88 Tower. (Credit realestate.com.kh)Following the completion of the condominium project ‘The View’ on Street 370, and ‘The Golden One’ on Street 360, this marks UC Group’s third project in the BKK1 area.The BKK1 area is known to be close to Phnom Penh's renowned landmarks, international embassies, businesses, restaurants and venues, catering to travellers and residents. The UC88 Tower is ideally located on Street 322 next to Monivong Boulevard, placing it at the heart of the capital.Map of Phnom Penh highlighting BKK1 Area, and the UC88 Tower project. (Credit realestate.com.kh)Construction progress of the UC88 project. (Credit realestate.com.kh)Furthermore, BKK1 stands as a prime location, attracting investors seeking property opportunities in Cambodia. With its extensive amenities and prime location, UC88 Tower is set to emerge as a notable addition to Phnom Penh's choices for a holiday stay, residence living and office space.To learn more about UC88 TowerSpeak with our agents Click Here

Although previously seen as “a bit out of the way”, even for a relatively small city like Phnom Penh, the investment into connected infrastructure means that Koh Norea and the Chbar Ampov area are much more accessible and new malls, attractions and other amenities are making the area attractive for residents and developers.Where Is Koh Norea & How Connected Is It?Located to the east of the capital (we think it's southeast, but if you scan the property developers' news and media about the area, it feels like every point of the compass has been used to describe its geographical location). What can't be denied is that the area is situated along the southern banks of the Mekong River but has views of the Bassac River to its west and northwest, and is located to the north of Chbar Ampov. Actually, Koh Norea is a small tip of (mainly repurposed land) where the Mekong River flows into the Bassac River - with ‘Koh’ in Cambodian translating as island/peninsular.The Chbar Ampov district (or Khan) itself was formed in December 2013, and although separated from the Phnom Penh city centre by the Bassac River, accessibility to the capital’s northern and southern regions is possible via two bridges.A short drive across these will enable residents to easily reach Koh Pich as well as other landmarks such as the Independence Monument, Royal Palace, National Museum, Aeon Mall and Hun Sen Boulevard to the south which itself has become a prime location for all types of real estate developments seeing a plethora of shopping malls, condos and access to international schools. The scale of infrastructure developments throughout the city, but especially to the south and southeast of Phnom Penh, means new corridors of connectivity offer homeowners and developers new opportunities, therefore, there has been significantly increased interest in these areas.The new Techo Takhmao International Airport development to the south of the city is currently on track with its first operational phase due in 2025. This is a major focal point of development as it is still not made clear how one of the largest airports in the world, when completed, will connect passengers to the city with dedicated bus lanes, potential light rail routes and other access all still being explored.Cambodian Population & Economic Growth Spurs Infrastructure InvestmentWe have previously discussed the increasing urban population growth in the Kingdom, and the accompanying challenges this has and will create for the capital's infrastructure.The Cambodian Ministry of Land Management, Urban Planning and Construction adopting the Capital Phnom Penh Land Use Master Plan 2035 is the guide on land use and is intended to ensure the promotion of sustainable urban development.An example of this is Phnom Penh’s largest interchange project - a flyover connecting Hun Sen and Monivong boulevards (Phnom Penh’s 6th flyover as well as the longest ever built). The first section is due to be complete before April 2024 and the final underpass and ramps should enter service in April 2025 and is hoped will alleviate congestion at this transport bottleneck.But this is a constantly evolving landscape and the growing economic wealth of the population, sees it being on course for leaving the LDC (Least developed countries) in the next few years and potentially reaching the government's goals of middle and higher income classification in the future.Norea CityThe Overseas Cambodian Investment Corporation (OCIC) has been developing the expansive development of Norea City, which is part of a massive USD $2.5 billion project, over 125 hectares of land.The conglomerate said of the megaproject “Our goal for the investment and development is to create a centre for international and national commercial hubs including luxury residential areas. The most iconic landmark of the city is the 555-meter skyscraper facing the Mekong River and Bassac River.”These developments and the projects listed below have led to private land sale prices in Chbar Ampov reaching an estimated USD $2000 per metre, while rental prices have also been driven upwards.Norea CoveOCIC is also involved in a joint venture with Singaporean developer Akram to build Norea Cove which offers luxury villas. As part of this project, in November 2023, OCIC announced that a new building would be built which would rank as the tallest building in Cambodia at over 500 meters high. OCIC Deputy General Director, Touch Samnang, confirmed the project but little is known.OCIC is confident that partnering with multinational companies to attract investment in the city, will help make Phnom Penh and Cambodia more attractive in the region.Catering To Koh Norea’s ResidentsAs part of the burgeoning life in the area to the southeast of the capital, more developments, new wealth and different types of residents mean the area needs to captivate its residents and new malls and activities have already opened up in Koh Norea.Koh Nora BridgeThis cable-stayed concrete bridge was completed in October 2023 following three years of construction, and connects Koh Pich to the Koh Norea peninsular across the Bassac River - It has further opened up prospects of developments and properties.CBRE previously said after the bridge opened that the average land prices in the area were anticipated to substantially increase from $800 to $1,300 per square metre with the riverfront seen as the prime real estate.The bridge is seen as a significant development in Phnom Penh as it has helped ease traffic congestion and is a crucial link between the eastern and western parts of the capital as well as connecting growing districts.The Koh Nora bridge spans 824 meters with a width of 20.5 meters, and was estimated to have cost USD $35-38 million; it has become a popular landmark in the city already and is one of several bridges recently constructed or under development in the city.Prek Pra BridgeThe Prek Pra Bridge was announced in August 2023 with an estimated budget of USD $60 million and got underway in Q1 2024 - it is not expected to be completed before the end of 2027.The Phnom Penh bridge will span from Chak Angre (Meanchey district to the south of the city) and across the Bassac River to Prek Pra (which is located in Chbar Ampov district), and when completed, will be 845 meters long and divided into 4 traffic lanes.Koh Norea ParkwayKoh Norea Parkway is another development from OCIC which opened in late 2023 and the developed public space offers 20 retail units along the river banks in Chbar Ampov as well as a riverside boardwalk that benefits the community and visitors.The Koh Norea Parkway is inspired by nature and is intended to blend into the backdrop of the river - the launch of the retail outlets was planned to coincide with the official opening of the nearby USD $40 million bridge in 2023.Other notable attractions in Koh Norea and the surrounding area, are:The Park Community Mall - Offers dining options, cafes, shopping and other services.PH Euro Park -  Developed by Peng Huoth, it has become a sought-after destination for both locals and visitors.Ground Market - The Ground Market opened in Koh Norea in 2023 and the retail development is located in front of CIA International School. The development team was praised for providing visitors with an exciting experience, environment and entertainment mixed with a suitable tenant selection.KHMER Streat - This food & night weekend market was launched at the start of 2024 and offers Cambodian and international cuisine with entertainment also planned such as live music, cultural performances, and games. In conclusion, in addition to the planning and vast sums being spent on the infrastructure in the area, the diverse range of activities as well as the potential for a high-value real estate market, means Koh Norea and the surrounding area of Chbar Ampov district should be one new homeowners, investors and developer should keep an eye on.

It’s official! Ascott Limited has recently announced a new venture through management for Somerset Diamond Bay Garden, enhancing the project. It will be housed within the building, occupying 10 of the higher floors in a 37-floor high-rise development. Diamond Bay Garden, a mixed-use development located in the Koh Pich district (Diamond Island), Phnom Penh, is a much-anticipated project to be completed within the coming years.Render Image of the Diamond Bay Garden (Supplied Diamond Bay)The project is a luxury waterfront project with views over the three rivers—Mekong, Tonle Sap, and Bassac—as well as views of the Phnom Penh city skyline. It is set to feature extensive amenities to complement its residences. Tenants and guests alike will be welcomed by a boutique lobby featuring concierge and security services. For those seeking relaxation, a resort-style swimming pool and a fitness and yoga centre will be available.Construction progress of Diamond Bay Garden as of October 2023. (Supplied)The Sky Garden & Bar will offer views of both the city skyline and the rivers. Families will appreciate the dedicated kids' playground, while convenient housecleaning services and accessible basement parking across the complex enhance the ease and comfort of living at Diamond Bay Garden. Map highlighting Koh Pich district and the proximity of Diamond Bay Garden to the Koh Norea Bridge.Diamond Bay Garden is expected to have an average guaranteed rental return (GRR) of 8% over 10 years.Developed by the OCIC group, Koh Pich district is a hub featuring a variety of entertainment venues and attractions, including The Elysée, Treelion Park, Coconut Park, Riverwalk Night Market, and others. The area also provides easy access to key landmarks such as the Independence Monument and the Royal Palace, as well as various shopping destinations such as AEON Mall, all within a few minutes drive. It also offers a connection to the Chbar Ampov district via the newly opened Koh Norea Bridge.To learn more about Diamond Bay Garden Speak with our agents Click Here

For many property seekers, finding the perfect property for living or commercial use is only half the journey. The real challenge often starts after buying or renting a property, when you face the task of turning a space into what you've envisioned.  The need for a wide range of services, from mechanical, electrical, and plumbing works to renovation can take time and effort.As some of our readers might know, Realestate.com.kh is transitioning to a new office space on Monivong Boulevard. We have acquired the services of Southeast Asia KDC Engineering Co., Ltd. (also known as KDC) to ensure the fitting-out of the brand-new Realestate.com.kh’s headquarters.KDC offers a one-stop solution that offers mechanical, electrical, plumbing, renovation, maintenance, and safety system design for all real estate needs.Its team includes senior and junior technical engineers from Japan and Cambodia ensuring comprehensive skills. Its commitment to the 6S methodology encompasses Sorting, Setting in order, Shining, Standardising, Sustaining Discipline, and Safety.  Additionally, the company offers after-service care for most of its offerings.  With this approach, KDC's dedication to quality and schedule control, effective time management, and client support position it as a trustworthy partner. For property owners and seekers in Cambodia, choosing a reliable company like Southeast Asia KDC Engineering Co., Ltd. for your fit-out means entrusting your vision to a team dedicated to making it a reality.About Southeast Asia KDC Engineering Co., Ltd.Southeast Asia KDC Engineering Co., Ltd. is an officially registered company with a head office in Phnom Penh, Cambodia.  Established in 2023, its parent company is Kyowadenchi Co., LTD. It is known for its electrical company in the Kanto area of Japan. It provides mechanical, electrical, plumbing, renovation maintenance and safety system design services. It assures the property owners of good service, quality, trust, time management, and response to its client needs. Southeast Asia KDC Engineering Co., Ltd. brings international expertise and standards to Cambodia. Contact InformationTelegram: https://t.me/kdc_mep_servicesTel: (+855) 96 6399 868, (+855) 89 378 910Address: Royal PSL Apartment #24, Corner of 57 St&360 St, 8 villages, BKK1, BKK, Phnom Penh, Cambodia.

An area that might not have previously captured much attention is now experiencing a surge of interest from real estate developers and Cambodians. Koh Norea located on the southeastern edge of Phnom Penh, Cambodia is now the focus of development. This article aims to provide you with a comprehensive overview of Koh Norea and its surrounding area.Introduction Adjacent to the bustling areas of Phnom Penh, Koh Norea is located on the north side of Chbar Ampov district. It overlooks the Mekong on the east side and the Bassac River on the northwest. Chbar Ampov district offers accessibility to the city’s northern and southern regions through its two bridges. The recent opening of the Koh Norea Bridge, which connects the area directly to Koh Pich enhances its connectivity. Residents can easily travel to the city's northern parts, facilitating smoother and more convenient commutes.Map of Phnom Penh City district (Credit: Wikipedia)Map of Phnom Penh City focusing on Koh Norea areaFurthermore, its proximity to the southern sections of Phnom Penh by National Road 1, which crosses the Bassac River via the Kbal Thnal Bridge, (also known as the Chbar Ampov Bridge) facilitates convenient access to the southern part of Phnom Penh.The southern part of Phnom Penh has been a focal point for development. The recent completion of a new Monivong-Hun Sen Boulevard flyover along with numerous infrastructure and residential, and mixed-use projects along Hun Sen Boulevard, highlights this trend. Koh Norea Bridge (Courtesy Norea City)Another significant development in this area is the construction of the new Phnom Penh Airport. The Techno Takhmao International Airport is expected to be fully operational by 2025. It will take over the existing Phnom Penh International Airport in Por Senchey District as the city's primary aviation hub. Koh Norea boasts a strategic position located between the northern and southern parts of Phnom Penh.Render Image of the Techno Takmao Airport. (Courtesy Foster + Partners)Koh Norea In the Next Few YearsThe vision for Koh Norea is to transform the area into a mixed-use hub, including residential, commercial, and recreational facilities. In line with the opening of the new bridge, Koh Norea plans to develop into a dedicated economic zone, reminiscent of the development seen on Koh Pich (Diamond Island). These projects aim to draw more visitors and residents and progress over time and will help integrate Koh Norea smoothly into the wider city area.Real Estate Landscape in Koh Norea & Chbar AmpovPhnom Penh is experiencing rapid urbanisation as every year more people move to the city for better opportunities professional or educational. To solve the growing need for space, real estate developers are creating projects such as satellite cities to provide living spaces to a wider range of people. Koh Norea is becoming popular for its real estate developments where high-end apartments, boreys and luxury homes are slowly being introduced to attract buyers from both Cambodia and abroad.In 2019, the Overseas Cambodia Investment Corporation (OCIC) started building a new satellite city in Koh Norea named Norea City. This project has highlighted Koh Norea as a centre for international and local commercial hubs including residential areas and parks. The Norea Parkway in Norea City is where the Khmer Streat Food Festival & Night Market is organised regularly. (Courtesy Norea City )Another notable real estate development of OCIC in a joint venture with Singaporean developer Akram is Norea Cove. The project encompasses luxury villas of several types and upscale living options. Moreover, a new landmark, a 555-metre skyscraper facing the Mekong River and Bassac River is expected according to the OCIC’s website.Developer Peng Huoth has demonstrated the popularity of their borey projects, particularly among Cambodians. Borey Peng Huoth is well known for delivering residential units focusing on modern living with a local lifestyle. Peng Huoth borey properties in Chbar Ampov are not too far from Koh Norea. What to do in Koh Norea & Chbar AmpovThe Koh Norea and Chbar Ampov area holds its own in terms of entertainment and convenience. Close to popular spots like 'The Ground Market' and The Park Community Mall, the area benefits from dining options, cafes, shopping and other services in the area. Additionally, the picturesque PH Euro Park, developed by Peng Huoth, has become a sought-after destination for both locals and visitors.A location with a proper infrastructure, coupled with safety and a diverse range of services and amenities, indicates potential for a high-value real estate market, making it appealing to both buyers and investors.With its ongoing development, Koh Norea is set to boost the Chbar Ampov district by providing new business opportunities and meeting the increasing demand for residential spaces from the growing population.ConclusionKoh Norea, once an overlooked area on the southeastern edge of Phnom Penh, is emerging as a focal point of real estate development and urban expansion. With improved connectivity through major infrastructure projects such as the Koh Norea Bridge, and its proximity to essential city parts, positioning it as a prime location for both residents and developers.  Ongoing projects aimed at transforming it into a mixed-use hub and the anticipated boost to the Chbar Ampov district. Koh Norea's development not only promises to attract more visitors and residents but also integrates it more seamlessly into of Phnom Penh.If you're seeking real estate in Cambodia, visit our website and social media channels to browse properties. For personalised assistance, our customer service team is available via 📞+855 92 92 1000 📧 info@realestate.com.kh 🌐 www.realestate.com.khEasy Fast & Free Realestate.com.kh helps you find your dream property or real estate investment in Cambodia.

Simon Griffiths, the Head Of Real Estate at realestate.com.kh recently spoke at an organised event entitled “2024 Property Market - The Untold Story” which was held in the Cambodian capital in late February and provided an overview of the Cambodian condo market background. With more than a decade of experience working in the real estate sector in the Kingdom, Griffiths joined realestate.com.kh in 2023 armed with a Master's Degree in Commercial Property Development and Management and had spent six years at CBRE as well as owning his own commercial real estate firm. In his capacity as Head Of Real Estate, he has engaged in some deep dives through the data and researched the trends with a specific focus on the condo market. We lay out his findings of the Cambodian property cycles over the past decade and what lies ahead for the sector.Understanding The Cambodian Condo Property Market Cycles2009-2013Griffiths explained that the Cambodian modern property cycle started around 2013 but the groundwork had been laid as early as 2009 when the sub-decree on co-owned buildings allowed for a hard title which was followed by the change of laws allowing for foreign ownership with certain restrictions. However, the timing was concurrent with the global financial crises which placed extreme stress on global financial markets and banking systems between mid-2007 and 2009 - ultimately it placed firm brakes on the growth of the property market in the Kingdom. Griffiths added that there were some green sprouts which arose from this first crisis - two large concrete commercial properties were built in Phnom Penh - Canadia Tower and Phnom Penh Tower.2013-2016However, the condo market was halted and there was a slow recovery from 2013-2016 in which around 5000 units or less entered the market in Cambodia. In this period, 55 condominium projects were launched which helped build momentum - although it must be acknowledged this came from a low baseline, which resulted in high growth.2017-2018From around 2017-2018 onwards, the Cambodian condo market saw a distinct acceleration and a more modern condominium sector developed, which Griffiths separates from the period of 2013 to 2016. The market also saw distinct growth of interest and buyers from Asia - including South Korea, Japan, Singapore, Malaysia, and Taiwan. 2017-2020Between 2017-2020, the Chinese market became very dominant in Cambodia - this included both Chinese developments and Chinese buyers. As the market evolved and was driven by Asian-Pacific interests, what was happening in the real estate sector, Griffiths explained, was that for example, Singaporean developers would have their own Singaporean contacts from their own Singaporean network, and the same happened with the Japanese, Taiwanese, and other markets. That's how many from the region were introduced to the condominium market in Cambodia. This buyer pool and the amount of demand being generated via international developers started to increase, argued Griffiths, and as a result, prices started to rise from a moderate base and steadily increased.Since 2013, condo prices in the Kingdom steadily increased for five years annually between 10-25 per cent and then the addition of high-end positioning of condominium projects launched into the market, diversifying what were largely mid-market products. As multiple tiers were established, buyers could choose from a selection of more affordable condominiums in Cambodia’ including mid-range condominiums and high-end. COVID-19 Placed Brakes On The Cambodian (and Global) Property MarketPrices in Cambodia for the first time reached a peak of over USD $4,000 per square meter pre-pandemic, but then COVID-19 once again caused global brakes on all growth and interactions. The period was one of uncertainty and has bled into the current period of “painful adjustment” said Griffiths. New products and new condominiums still enter the Cambodian market and the situation has changed slowly and without a sudden jolt.Some market conditions have not materialised as some expected;The Chinese buyers and investments didn't come back as anticipated.Developers who launched condominium developments pre-COVID in Cambodia, with pre-COVID pricing and demand, found themselves priced out of the market.New developments have entered and been able to adjust to a new reality and market conditions. The compound result has been a slowly increasing amount of condo supply since 2020, while demand has heavily been reduced - this has combined to drive rental prices down. Some newer developments which have launched in Phnom Penh over the past year are actually back at below 2013 prices. The market also now has more mature developers and those with a proven and successful track record of developing projects. 2024 And Beyond - What To Expect Of The Cambodian Condo MarketWhen looking at the current situation in 2024 and where to now, Griffiths said, “In my opinion, we've reached the bottom and we will start a property cycle where new project launches will offer greater value in terms of pricing, but also in terms of delivery for what they're able to offer to their buyers. New project prices are undercutting the market. And this is positive.”There are some global property patterns which are replicated he said - there are periods of growth and then a pattern of recession. Growth generally has an upward trend, especially in developing/emerging nations but this tends to be more dramatic or undergo a faster increase explained Griffiths.There are things that can be controlled, and barring any exceptional circumstances or global shocks, he anticipates a steady increase in property prices in the Kingdom.“We've been through the pain. Yes, there might be six months more to wait, but we're starting to see the early shoots as the US Federal Reserve weighs its rate-cutting decisions,  and inflation looks to be under control - the anticipated cut in interest rates in 2024 will provide a positive sentiment in the market that will trickle down to Cambodia.”No one has a crystal ball to look into the future and as Griffiths quipped “What will the property cycle look like? If I knew exactly, I wouldn't be here talking to you. I'd be a millionaire on a yacht.”However, an analysis of the data and trends suggests there is good reason to think that property prices won't stay as low as they are, which means the only way is up in his opinion.Other factors to consider for the Cambodian condo and real estate market  in the short-medium term are:The Cambodian regulatory environment means the market could see a productive development phase.More diverse financial products on the market, in terms of favourable payment terms, mortgages and loans are positive signs.Ultimately the lessons learned mean there is a more mature environment in the Kingdom - both developers and buyers. An increased number of developers with experience and who have proven that they can develop real estate products with their buyers achieving high rental yields, as well as capital gains are positive for the property condo market in the long-term.

Although laneways in the Kingdom have been a feature over the past decade, they have evolved, popped up in new locations, and in some instances transformed the residential area into a sprawl of nightlife, bars, eateries and social hangouts, as well as hub for arts and culture.This also means from a property perspective, Bassac Lane for example, which for the last few years has morphed into the liveliest and biggest laneway in Phnom Penh, has also boosted F&B, retail, and residential property prices, although its popularity means there comes additional bustle and noise, especially over the weekends.With the property market in the Kingdom seeing falling and more realistic prices, it also means there are more opportunities for potential repurposing of existing retail and residential properties, with many on the laneways listed in the article below a good indicator of how homes, villas and business units can be adapted - not only for F&B - but co-living spaces, or even budget hotels. It also spurs an entrepreneurial spirit and allows for more creative small businesses to have a platform and a base in the various Cambodian cities.The "laneways" in Cambodia are similar to those popularised in cities like Melbourne or Tokyo, with their narrow streets and alleys offering a plethora of trendy and unique outlets creating a unique atmosphere and experience for residents and multinational visitors alike. Pub Street - Siem ReapMaybe we are cheating or bending the rules to include the most busy and popular “walking street” in Temple Town, but Pub Street with its location in the heart of Siem Reap, is a bustling pedestrian avenue which is most well known for its lively nightlife, restaurants, and bars. Purists will say it's not a traditional laneway, but there is undoubtedly a vibrant atmosphere and it remains the main destination for tourists visiting the nearby Angkor Wat temples who want to unwind and take in some beverages and sample the local and international cuisine.In addition to its diverse culinary options, Pub Street attracts revellers due to its vibrant nightlife, from live music to bars showing sports broadcasting live events, and laid-back lounges where you can relax and enjoy locally concocted cocktails.Pub Street is especially popular and crowded for holidays such as Khmer New Year and International New Year as well as other local cultural holidays.Bassac Lane - BKK, Phnom PenhIt's been fascinating to see the growth and popularity of Bassac Lane - especially post-pandemic - as it's not even arguably the go-to destination for nightlife in the Cambodian capital - it's where all visitors and most expats and locals head to on the weekends.What started as a small selection of carefully designed and themed bars and dining outlets on Street 308 between Norodom and Sothearos Boulevards a decade ago, has seen the small laneway grow into multiple laneways and dozens of cocktail bars, eating complexes, clubs, hidden bars and so much more in the trendy Bassac area of BKK1.With its central location near the Independence Monument and the famous Wat Botum Park, Bassac Lane has become a trendy and hip area with a variety of bars, restaurants, music venues, and boutique shops, which has seen local Khmer shophouses and renovated colonial-era buildings transformed.A popular hub for locals, expatriates, and tourists - it's difficult to keep up with the new outlets and offerings although there are some long-standing classics such as Mama Wongs or Red Bar still remain, but it's never dull if you are seeking to sample a wide selection of food or drink, especially over the weekend.Bassac Lane also hosts exhibitions, pop-up markets, and street festivals.Langka Lane - Independence Monument Phnom PenhLangka Lane is an alleyway and laneway on St 51 and the corner of St 288 which offers several new and trendy restaurants, bars and other boutique businesses.One of the newer gems in central Phnom Penh situated close to the Wat Langka and Independence Monument in Boeung Keng Kang 1, there is a great selection of cocktail and craft beer bars - and all on the doorstep of several hotels for the convenience of visitors.Some highlights include Embargo which has one of the best selections of regional and local craft beers and an upstairs area for board games and retro games, the locally run SAK Pub Craft Beer & Bites, the ever-popular Katansashi fusion Japanese restaurant as well as half a dozen other Japanese and Asian eateries, Garage Sale with its fantastically decorated interior and smash burgers as well as its retro arcade games, long-standing burger outlet Burgershack, and one of the best French restaurants in the city - Le Langka. Recently joining the eclectic selection of options has been Boma - which serves Mediterranean cuisine. The small laneway in Kampot has sprung up and features a small selection of outlets such as a cafe, craft bar and even a tattoo parlour. Located not far from the river and from the downtown Old Market, the small Kampot Lane is dubbed as the “Little Alley Of Fun”.Kampot remains a popular getaway destination from the busier Phnom Penh and has always had a thriving foodie scene, and the laneway is a nice relaxing escape which offers visitors and tourists an opportunity to unwind in the riverside town.Palace Lane - Royal Palace Area Phnom PenhThe launch of the Palace Lane concept laneway in Phnom Penh just after the pandemic subsided could have been seen as a risky move at the start of 2022. The intention was to offer the best of local and international food, drink, and music in a safe environment for its customers, and the range of outlets such as Fernando’s Piri Piri Chicken, Craft, Planta, Pizza Factory, Cambodia Bagels, down the actual laneway but flanked by equally popular Box Office, Villa Grange, and The Vine, means there is plenty of dining, drinking and social option within a small area closely located to the riverside and the Royal Palace.Cambodia Bagels and Pizza Factory (branched out also as Burger Factory) now has other delivery outlets in the city due to the popular demand.The location of Palace Lane, situated between St.240 and St.244 (also known as 240 and a half) used to be a popular hangout with venues such as Bar Sito and Artillery but both had closed but have been revitalised over recent years.A small investment group rented the properties, added the new outlets next to French-Khmer cocktail bar Bong Bong Bong, added new street art and a regular lineup of music and now Palace Lane is a regular laneway destination in the capital.On January 27th, 2024 near the laneway on St 244, there will be a Beer Festival promoting local and regional craft beers and food with a kids and family-friendly atmosphere.

With the new year upon us and the schools having re-opened across Cambodia, there is generally also an influx of new residents to the Kingdom, some of whom will undoubtedly have made the move for the first time with their families.Although Phnom Penh, for example, can’t ever claim to be the greenest city in the world, there are some green spaces and parks as well as other family-friendly attractions and great activities to be enjoyed, with other Cambodian cities and urban areas also taking these into consideration. Beyond the usual commercial and retail property developments, markets and tourist attractions help contribute to the economy and encourage small and medium-sized businesses, while foot traffic and motorised traffic at these attractions and activities also play their part in urban planning and on residential and business property prices. What Cambodian Parks Can You Enjoy In 2024The capital of Cambodia and other towns and cities have been diversifying the use of available land by adding new family-friendly attractions to their urban environment, and hopefully, more green spaces, as these have been proven to be important for many reasons. Samdech Vibol Panha Sok An Kirivong Cultural Park - TakeoThe cultural park is due to be completed in Q1 2024 and is being developed by SOMA Construction & Development Co., Ltd. in Boeung Tonleab, Preah Bat Choan Chum commune, Kirivong district, in Takeo province. Intended to be 500 meters long and 100 meters wide, the Samdech Vibol Panha Sok An Kirivong Cultural Park is located along National Road 2 and has been funded by the family of Samdech Sok An in tribute to the deceased former Cambodian Deputy Prime Minister who grew up in the area.Based on the initial photos released by SOMA towards the end of 2023, it is looking very family-friendly and picturesque.Included at the park will be a statue of Samdech Sok An, a library, sports court, gyms, café, a lounge, as well as a kid's playground. In addition, the water features mean there is a boating area planned as well as other public events areas.The Cambodian park is intended for locals and guests to enjoy a leisurely walk and to exercise, while the public library will be available to help empower education and “to serve other public interests in the future”, said the province's governor. Takeo is also one of the stops on the southbound passenger train from Phnom Penh so it's an easy day trip from the capital.Coconut Park - Phnom PenhOne of the most popular parks in the Cambodian capital, Coconut Park is a free public park located on Koh Pich and has some greenspaces as well as restaurants, bars, a roller skating rink (CIS Roller Dome), bike trails, a Splash Pad, and the area also has been host to markets and other events.The Makerspace Ceramik Art Studio also has a range of interactive activities for kids and adults with the creative space providing a Lego studio.Aquation Phnom Penh / Treellion ParkNot far from Coconut Park, Treellion Park is home to the city’s only put-put course (Birdies Mini Golf), and the DIB club swimming pool is popular for all ages. The surreal statues and garden decorations make Treellion Park an interesting place to wander around and there are increasing choices of eateries such The Bus and the Glasshouse.  The area has also been used for concerts and music and themed events. There was even karting introduced in 2023 (Kart Station) but this appears to have been suspended.Sunshine Family Park - Phnom PenhThe Sunshine Family Park is located in Phnom Penh on Ayasmayan West Street (113) which was completed towards the end of 2023 and is self-billed as a “power-free amusement park” thus, the first of its kind in Cambodia.Presented as a theme park with staff in costumes, there are plenty of Instagram moments, with inflatables set up for youths to play on, but there are also slides, jungle gyms and other attractions intended for kids. The venue has already been holding live music concerts so it may not suit everyone’s tastes, and there is a night market selling food and drinks. Garden City Waterpark - Phnom PenhAlthough not a green park, this water park is a welcome relief to the endless hot months in Cambodia, and the Phnom Penh water park is probably the biggest in the country offering more than 38 slides as well as a 550-metre-long Lazy River. The Kids Paradise water playground is PG13-safe but older kids can still get their thrills on slides such as the Kamikaze water slide.Kampot River ParkAlthough it can get busy, especially over the weekends, the Kampot River Park offers water slides, a water park, zip lines, as well as activities such as kayaking, paddle boards and pedal boats to be used on the river. There are also bungalows and a restaurant serving local food as well as drinks.Located at the Toek Chhou Rapids approximately 10 kilometres from Kampot in Bat Kbal Damrei village, Makprang commune, the park is meant to be open from 10am to 5pm.Suggested Cambodian Family Activities 2024Angkor Eye - Siem Reap Siem Reap has ample green space and plenty to do for locals, tourists, and expats. One of the attractions worth families checking out away from the temples is the Angkor Eye, which is a 60-metre-high Ferris wheel (the tallest in the Kingdom) offering stunning views of the countryside and a different perspective of the famous Angkor Wat complex. It's worth booking a trip at sunset for the Golden Hour at and stunning views and family portraits. You can also book an afternoon tea or cocktail experience in one of the capsules.Kids of all ages are welcome if accompanied by an adult, and as a bonus, children under 3 ride for free if accompanied.KHMER Streat - Food Festival & Night Market There have been an increasing number of markets to pour over the weekends in Cambodia’s capital - with farmers markets proving a hit.This new food and night market is planned to launch in January 2024 and will be located in the Koh Norea area which is undergoing massive development.KHMER Streat - Food Festival & Night Market is intended to be for families and individuals and will offer Cambodian and international cuisine with entertainment also planned such as live music, cultural performances, and games. The market is scheduled to be open from 4-11 PM on Fridays, Saturdays, and Sundays.N5 Night Market - Phnom PenhOpened in November 2023, N5 is the Biggest Night Market in Phnom Penh. There are several such markets in the city, including the Night Market in Borey Peng Huoth Boeung Snor, Prince Plaza Night Market, and 60M Night Market etc. On its debut to the north of the city, it was estimated to have received as many as 30,000 visitors enjoying goods from over 300 vendors! The park was developed by Prince Real Estate which has a view of ‘building a better life’ and modernising urban Cambodia through high-quality developments. The development costs totalled USD $1 million, and the park covers an area of 18,000 square meters. There are food, drinks, handicrafts, a graffiti wall, as well as live music shows, a kid’s playground, grass lawns and even a gaming zone.These are just a small selection available but with the anticipated publication of ‘Projects for Phnom Penh: Urban Green Network Regeneration’ by Urban Lab and the American University of Phnom Penh in 2024, more eco-friendly and sustainable markets and urban spaces will be placed in the spotlight as the urbanisation of the Kingdom of Cambodia races into the future.

On January 9th, Picasso City Garden, a luxury apartment in BKK 1 owned by Titan Stone Real Estate Group, entered into a partnership with five institutions under the Health & Wellness POWER TEAM, a combination of well-known local medical and health care institutions. Through this formal MOU Signing Ceremony, Picasso Property The powerful combination of management brand and medical brand has achieved a "win-win" strategy for both parties, allowing better medical and health care services to benefit all residents of Picasso.The Health & Wellness POWER TEAM is composed of five well-known local medical and health care institutions, including:IMI Dental Clinic: With nearly 30 years of business experience with a team of senior international dentists, serving local and foreign high-end political and business customers.Meta Eye Clinic: A well-known local ophthalmology clinic with the most advanced ophthalmic medical equipment and technology, and efficient medical technology for children with severe eye diseases.KS Clinic: A well-known local otolaryngology clinic with a professional medical team， cooperates with a various government hospital to efficiently exchange resource and technology for patients' medical treatment.EKIP Medical Center: A well-known local comprehensive hospital, with a wide range of medical services and customers of all ages, and is pretty active in well-known local business associations.RD Keto Fasting: As a rare local nutrition training institution, RD Keto Fasting mainly provides online training courses on diet and nutrition, especially weight control for trainees. Currently, there are thousands of online students.Mr. Darren Teng, chairman of Titan Stone Real Estate Group and Picasso City Garden, said in his speech at the signing ceremony: "We always regard the safety and health of our residents as the most important concern. Via the collaboration with local outstanding and professional medical units, combine the mutual demand for each party, is an important part of Picasso property management. Therefore, today's signing ceremony is considered to be a great significance to Picasso residents and Picasso's brand value. It will further enhance the richness and diversification of Picasso property management services and achieve a "win-win" situation.The first serviced apartment to provide exclusive resident preferential packagesLocated in the core area of Phnom Penh - BKK District 1, Picasso City Garden is the only high end artistic serviced apartment in Asia. Since the building completion in late 2022, the occupancy rate has continued to rise and currently reaches about 90% of the total units. The property services have been supported and recognized by the market, and most of the residents are international corporate executives and business people from all over the world. In order to continuously improve the quality standard of property management services, in the past year, PICASSO FAMILY PACKAGE (Picasso Family Package) has been introduced to provide more detailed, high-end and distinctive services to owners and tenants. Based on the more relevant living needs of residents, actively negotiates collaboration with businesses or suppliers in various fields, such as health care, catering, education in the fields of daily necessities, travel, beauty salons, etc., there are currently more than 40 partners providing residents with exclusive benefits and discounts. Residents only need to show their Picasso access card to enjoy the preferential discounts of the collaborationThe healthcare and medical field is the top priority among all. The MOU signing is a value-added upgrade of property services, it also basically reflects the intentions and efforts of Picasso Property Management to cover comprehensive service operations. In the future, Picasso will continue to create a higher-quality living experience for customers and deliver warm community life. At the same time, will also provide more confidence in the building planning and property management of Picasso 2, a new project to be developed by Titan Stone Real Estate.Learn more about Picasso City Garden

Realestate.com.kh is proud to announce its fifth annual Cambodia Real Estate Awards  (CREA 2024). The grand gala event, set for April 2024, aims to honour and celebrate outstanding achievements within the Cambodian Real Estate industry.The CREA 2024 awards feature categories across different real estate disciplines, including:Real Estate Developer / Development AwardsReal Estate Agency AwardsReal Estate Hall Of Fame AwardsBENEFITS OF JOINING CREA 2024The Cambodia Real Estate Awards is a prestigious event celebrating the best of the best in Cambodia's growing real estate sector. Joining the CREA 2024 allows agencies and developers to establish themselves as recognised and trustworthy members of the industry.Winners and nominees also benefit from the following:Brand and development exposure to local and international buyers, homeowners and investors.Judged by respected leaders in the Cambodian real estate industry and the general public.Endorsed by the Ministry of Land Management, Urban Planning and Construction.Endorsed by the Real Estate Business and Pawnshop Regulator.Endorsed by the Cambodian Valuers and Estate Agents Association (CVEA)..All winners receive the iconic CREA trophy and plaque to display in their office, showroom and at events.All winners receive the official CREA seal to use on all marketing material. Enter the Cambodia Real Estate Awards 2024WHO CAN PARTICIPATE IN CREA 2024All licensed firms and individuals are welcomed and allowed to participate in CREA 2024, regardless of the size or wealth of their operation. With industry and government involvement from the Ministry of Land Management, Urban Planning and Construction, the Real Estate Business and Pawnshop Regulator as well as the Cambodian Valuers and Estate Agents Association (CVEA), participants can be sure that the process is objective, fair, and done with integrity from start to finish.All these steps are taken to recognise the achievements of the Cambodian real estate industry objectively, fairly, and on a wholly inclusive basis.HOW TO PARTICIPATETo participate in CREA 2024, interested parties are welcome to get in touch with our team or download the relevant submission form here.Benefits of Participating:Further strengthen your position in the Cambodian real estate marketBe recognised as a leader in the Cambodian real estate industryNetwork with fellow professionals from the real estate industryLearn more about new industry developmentsReceive an iconic Cambodia Real Estate Awards trophy and certificateReceive high-quality marketing assets to leverage across your businessInterested in learning more about CREA 2024? Visit our website at www.cambodiarealestateawards.com Enter the Cambodia Real Estate Awards 2024Key Contacts for Cambodia Real Estate Awards 2024English & Khmer:Name: Ms. Annabelle Vong (Anna)Position: Event - Sales ManagerEmail: annabelle.vong@realestate.com.kh Phone: +855 (0) 17 426 797Chinese:Name: Zhao Shaochun (Halley) Position: Corporate Partnerships Advisor Email: halley.zhao@realestate.com.kh Phone: +855 (0) 86 394 459ANDName: Ms. Stefania Khiem (Steff)Position: Event ManagerEmail: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333

For anyone who has spent even a few years in Cambodia’s capital of Phnom Penh, the changing skyline, fuelled by rapid development and investment, is one of the most obvious changes to the city aesthetically. There are multiple mixed-development buildings, condos, hotels, and malls which have contributed to changing the characteristics of the expanding city. As Phnom Penh reaches new city limits, what are the tallest buildings in the capital and which are still under construction?Tall buildings referenced in this article are meant to be enclosed buildings with continuously occupiable floors. The information varies from source to source on the actual height and even the number of floors of the buildings, but we have tried to be as accurate as possible based on the information available.Which Are The Worlds And Asia’s Tallest Buildings?There is a sense of competition between nations and conglomerates to own the coveted tallest buildings on the planet as a means of prestige and often results in attracting tourism too.The international non-profit organisation Council on Tall Buildings and Urban Habitat (CTBUH) puts out a list of "The World's Tallest Building" and is regarded as setting the standards by which buildings are measured. According to CTBUH, the Burj Khalifa in Dubai is the tallest building and stands at 828 meters high! Out of the tallest ten buildings in the world, 8 are located in Asia, and 75 per cent of the 50 tallest skyscrapers in the world are in the region. China leads the charge with fifteen of the tallest skyscrapers, while the UAE has also several top contenders, and the city of Dubai has the most skyscrapers in the top fifty tallest buildings in the world.Burj Khalifa (Dubai, UAE) - 828mMerdeka 118 (Kuala Lumpur, Malaysia)  - 678.9mShanghai Tower (Shanghai, China)  - 632mAbraj Al-Bait Clock Tower (Mecca, Saudi Arabia) - 601mPing An International Finance Centre (Shenzhen, China) - 599.1mLotte World Tower (Seoul, South Korea) - 554.5mOne World Trade Center (New York City, USA) - 541.3mGuangzhou CTF Finance Centre (Guangzhou, China) - 530mTianjin CTF Finance Centre (Tianjin, China)  - 530mChina Zun  (Beijing, China)- 527.7mTop 5 Tallest Buildings In Phnom PenhThere are currently 8 buildings in the Cambodian capital which surpass 200 meters in height, but there are many under construction (and even many more which never materialised). As a reference, for many who are familiar with the city, Canadia Tower was for the longest time the tallest building in Phnom Penh, and it stands at 118m high - and now would only just make the top 50 tallest buildings in the city - while the Vattanac Capital Tower was the tallest building in the capital for nearly a decade from 2014-2022, standing at 187.3 meters! This will soon be nearly less than half the height of some projects under construction.1. Morgan Enmaison 2Developed by Morgan Group, who also successfully completed the Morgan Tower, Morgan Park Villa, and Morgan Champs-Elysees projects in Phnom Penh, the tallest building in the capital by the close of 2023 stands at 243.8 meters high. The Morgan Enmaison 2 development has 54 floors, includes 4,480 units, and covers 400,000 sqm! The condo building is located in Chroy Changvar along the Mekong River and some of the features include a yacht dock, helipad, rooftop sky bar and more than 15 acres of landscaped gardens for the residents. 2. The Peak Shangri-la TowerThe 228-meter-tall building was completed in 2022, and The Peak Shangri-la Tower has 55 floors in this mixed-use building located near AEON mall and the NagaWorld complex. The second tallest building in Phnom Penh offers condos, shops & restaurants, office space as well as the Shangri-La Hotel. There are over 1,000 condo units in this Phnom Penh building and two viewing decks for views of the capital.3. Urban Village Sky Prime TowerUrban Village Sky Prime Tower is a staggering 225 meters high with 58 floors, and is located to the south of Phnom Penh, along Samdech Hun Sen Boulevard, and is the tallest building along that major road.Urban Village Phase 2 Sky Prime Tower H is the tallest tower at the residential development from Urban Hub Cambodia and offers a podium viewing deck with a panoramic view of the Bassac River.4&5. The Peak Residential 1 & 2Part of the same development as The Peak Shangri-la, The Peak Residential 1 and 2 are listed as separate buildings and contain 55 floors each and stand at 224 meters. Completed in 2022, the Phnom Penh residential towers also include a gym and five floors of retail, a swimming pool, and a sky lounge on the top floor.Highest Proposed Buildings in Phnom Penh - CambodiaJ Tower 3 was launched late in 2023 and is under construction, while Cambodian Prime Minister Hun Manet has lauded the proposed 555m OCIC project due for development on Koh Norea - although details on that development are still unclear.There is an unverified list of buildings under construction in Phnom Penh, which indexes as many as 20 properties which could be higher than 200 meters when completed.J Tower 3 - Condo Over 300 MetersWhen completed in approximately 2028, the J-Tower 3 Condominium could be the tallest building in Cambodia and stand at over 300 meters high (planned to be 310.5m) and feature 77 above-ground floors.Although construction only got underway in 2023, there are some grandiose plans for the building which is located in Tonle Bassac, Khan Chomkarmon. A sky pool and sky bar will be located on the 77th floor, and if completed, it means the J Tower 3 could have the highest outdoor infinity pool in the world. One floor above the pool will be an observation deck with panoramic city views.OCIC Koh Norea Project - 500 Meters HighThe Overseas Cambodia Investment Corporation (OCIC) unveiled plans for a monster-sized building in November 2023, which is expected to be over 500 meters high and based in the Koh Norea development area of the capital - which could make it easily the tallest building in Cambodia.OCIC Deputy General Director, Touch Samnang, confirmed the project but we know over the years that a project being announced does not necessarily mean it will come to fruition.The building is planned to be constructed on the left-hand side of the Koh Norea Bridge, and the Cambodian PM cited the development, adding,“As I know, Koh Norea is planning to build the tallest building with a 555-metre height. Hopefully, it will be here, not just a high building in Cambodia, but also a high building compared to the region.”Naga World 3 Tower - 75-Story Hotel When Naga 3 was first announced, it was going to be the tallest building in Cambodia and stand at 358 meters tall. The 75-story hotel tower and casino project in Phnom Penh was due to be completed in 2025, however, in 2023 it was announced the plans for the project were placed on hold and completion would not be possible before 2029.The addition of the Naga 3 complex would see the addition of 5,000 hotel rooms across three towers and initial costs were placed at USD $ 3.5 billion.Picasso 2 - Phnom Penh CondoThe Phnom Penh condo residential property is located in BKK1 and construction launched at the tail-end of 2023 with limited information available. Based on the proposed plans of 56 floors, this condo could be in the mix for making the tallest buildings in the capital when it's completed in approximately 2027.With an estimated number of 700+ buildings in Phnom Penh exceeding 9 floors, and more than 50 buildings with 40 floors or more, the city continues to rise skywards and it will be interesting to see what buildings stand tallest in the city by 2030 and beyond.

As 2023 draws to a close, we look at some of the most exciting condo units which were launched and are being developed in the Cambodian capital of Phnom Penh, with each residence set to add something new to the urban skyline and increase the choices for potential home-buyers and investors.There were ten completed condo projects and three new launches in the first half of 2023 in Phnom Penh alone, which added 1600+ condo units to the market, while 8,000 were expected to be added to the supply by the close of the year. While the market has faced headwinds, according to the inaugural semi-annual report released by the National Bank of Cambodia, the condominium market saw a 12.9 per cent increase in the first half of 2023.In total, across the first three quarters of 2023, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) granted licenses to 2,600 construction projects worth a total investment of $4.96 billion.For foreigners and locals looking to purchase real estate, Cambodian condominium units remain attractive, so which are some of the residential condo projects that have launched that are most exciting?J Tower 3 - Luxury Condo In Phnom PenhJ Tower 3 is a residential property condo developed by a trusted Japanese real estate developer Tanichu Group who have a proven track record and completed three successfully launched projects in the Kingdom (J-Village Apartment, J-City, J-Tower 1 & J-Tower 2).When completed, the J-Tower 3 Condominium will be the tallest building in Cambodia at over 300 meters high and will contain 77 floors (with two additional underground floors offering 252 rental parking lots) and it hopes to establish itself as a new landmark in the capital. There are ambitious plans to offer its residents comfortable and luxurious living standards in a prime location and the building could also be among the ten highest in Asia when completed.Standing at 310.5m on completion, the condo covers a total area of 98,480 m² and is constructed with reinforced concrete to ensure durability and safety. Some of the features include:A sky pool and sky bar will be located on the 77th floor, with breathtaking 360-degree views of the expanding city and its surroundings. An observation deck will be installed on the 78th floor.The 50th floor will house a high-end cafe and luxury lounge, a mini shop, as well as a business room.An inner pool, kids pool, sauna, public bath, and spa, will also be available on the 49th floor.The swimming pool and fitness gym are located on the 29th floor.An outdoor park is planned for the 28th floor.The 11th floor will provide a dedicated Kids' Play Space, a pool bar (billiards), and a table tennis hall.Tani Shunji, the CEO of developer Tanichu Group claims the infinity pool on the 77th floor will be the highest pool in the world, although depending on the type of pool, there are higher pools in China, Hong Kong and Dubai - but this could be the highest outdoor infinity pool on the planet!In total, the developer plans to offer 360 3-bedroom condo units to residents, which range from 166m2 to 178m2. There should be smooth and efficient access to the floors via the building's eight elevators.Location: Tonle Bassac, Khan Chomkarmon (Phnom Penh)Prices: USD $320,000+Completion Date: Q4 2028 (estimated)Time Square 302 (Time Square 6) - BKK1 Urban Living CondoTime Square 302 (which is also known as Time Square 6) is the 6th property project from Mega Kim World Corp who have a reliable track record of successful condo projects in the capital.Based in centrally located BKK1, the Time Square 302 condo property will offer buyers a range of one-bedroom and two-bedroom units as well as 3 and 4-bedroom duplex units (from 57 m² to 170 m²).  The developer aims to provide contemporary and modern urban living in the Cambodian capital with construction brought forward and getting underway in Q3 2023 with off-plan sales already tracking very well.There are 370 units located at Time Square 302 which covers 977 m². Some building and residence highlights will include:48th-floor rooftop with fitness and lifestyle facilities, including a yoga studio, fitness centre, swimming pool and a canopy garden.The 37th floor offers a ping pong room, golf simulation area, cafe/ lounge/ games room, a kid's play area, meeting room, cinema & karaoke.At 190 meters tall, the developer aims to offer quality and affordable homes to local Cambodians and foreigners as well as investors.Location: Boeung Keng Kang 1 (BKK1), Phnom PenhPrices: USD $100,000 - $300,000Completion Date: Q1 2028 (estimated)Picasso 2 - BKK1 Mixed-Use Development Our final highlight from 2023 is the Picasso 2 condo residential property located in BKK1. The premium urban living project is being developed by Global Titan Stone Development, who also have a reliable track record of property projects in Cambodia. They previously launched a sold-out Picasso 1 City Garden in BKK1 which was completed in 2021.Located in the centre of Phnom Penh at the intersection of Street 57 and Street 282, Picasso 2 offers a prime location which covers 56 floors of luxurious condominiums as well as high-class amenities, and even shophouses.There will be one-bedroom units available and the development will include fitness centres, landscaped gardens, and communal spaces as well as a rooftop leisure area providing residents with panoramic views of the capital.More details on the pricing of the units are still to be confirmed and the condo has an estimated completion date of 2027.Location: Boeung Keng Kang 1 (BKK1), Phnom PenhPrices: TBCCompletion Date: 2027 (estimated)Property Outlook For 2024In Southeast Asia, a recent survey by price-tracking platform Numbeo, tracks Phnom Penh as fourth in terms of least affordable based on property price-to-income ratio in the region, with the Cambodian capital behind Ho Chi Minh City, Manila, and Bangkok. This is meant to reflect apartments which are least affordable in the region, as a higher price-to-income ratio indicates lower affordability. However, the CEO of developer Tanichu Group remains optimistic, saying in late 2023; “There will be ups and downs in any city’s real estate sector on the basis of fund flows and in the Kingdom, the situation is quite stable. Of course, there is a slowdown caused by the pandemic and a decrease in fund flows from China. But the sector will resurge.”As we have highlighted throughout 2023, the economic outlook for the Kingdom remains comparatively strong in the region, especially compared to global GDP growth. Cambodia also has the strongest FDI momentum heading into 2024 and remains an attractive option for investors.The adjustment of prices in the local housing market, a shift in developers and agents' marketing tactics as well as a change in construction styles and payment procedures have been seen as positives, while the need to buy from trusted developers has been a priority for buyers and investors in Cambodia.

Phnom Penh, Cambodia - Le Condé BKK1, a premium residential project located in the heart of Phnom Penh, is celebrating an important milestone with its Top-Out Ceremony on 26th October 2023. This marks the completion of the highest level of the building and is a significant step towards the final delivery of the development.Le Condé BKK1 has been one of the most sought-after residential projects in the region, offering luxurious and sophisticated living spaces to its residents. The property is strategically located in the prestigious BKK1 district, with easy access to major commercial and entertainment areas of the city.Designed by a renowned international architectural firm and inspired by the first Cambodian architecture Mr. Vann Molyvann, Le Condé BKK1 features a unique blend of contemporary and traditional architecture. The development boasts state-of-the-art amenities of more than 10,000 sqm, including a swimming pool, fitness centre, 240m of Sky jogging track, 800 sqm of Children's Play Paradise, 1,000 sqm of immersive sky garden, and Boutique Reading Space.As part of the celebration, the developers of Le Condé BKK1 have announced a 5% increase in the price of the remaining units. This increase will come into effect on 1st November 2023. Interested buyers are encouraged to take advantage of this opportunity to secure their dream home in this iconic development before the price increase.“We are thrilled to have reached this important milestone in the development of Le Condé BKK1,” says Mr. Dylan Hao, Wang Fu Guo Ji Property Development General Manager of Sales & Marketing. “We have worked tirelessly to ensure that this project is of the highest quality and we are confident that it will exceed the expectations of our valued clients.”Le Condé BKK1 is expected to be completed in quarter four of 2024, and the developer is committed to delivering a world-class living experience to its residents.About Le Condé BKK1:Le Condé BKK1 is a premium residential development located in the prestigious BKK1 district of Phnom Penh. The project offers luxurious and sophisticated living spaces, with state-of-the-art amenities and 24-hour security. The development is designed by an internationally renowned architectural firm and is expected to be completed in quarter four of 2024. Click Here To View Le Condé Listing

With the opening of the Siem Reap Angkor International Airport (SAI) on 16th October 2023, which garnered local, regional, and international news coverage, there comes a weighted amount of expectation the international hub can reinvigorate tourism and help propel a tourism recovery well into the future.The airport’s inauguration was attended by Vongsey Visoth, Permanent Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers, Mao Havannall, Minister responsible for the State Secretariat of Civil Aviation, and Sok Soken, Minister of Tourism and representative of Angkor International Airport Investment (Cambodia) Co., Ltd.At the opening, State Secretariat of Civil Aviation's Undersecretary of State and Spokesman Sinn Chanserey Vutha said, "With a 3,600-meter runway, the SAI is a 4E-level international airport that can accommodate long-distance flights from across the world. We hope the airport will attract new international airlines to operate direct flights to Siem Reap province, home of the UNESCO-listed Angkor Archeological Park." Cambodia’s Latest Economic NewsAs we approach the final financial quarter of 2023, most economic data still point to one of rebounding recovery for the Kingdom. Cambodia approved more than 2,350 construction investment projects between January-August which is a drop compared to 2022, and construction space and costs have risen 184 per cent and 186 per cent, respectively, reported the Ministry of Economy and Finance.For the period from Jan-September 2023, 191 new foreign direct investment (FDI) projects were approved which represented a 27 per cent increase compared to 2022. Chinese investors were the largest source of FDI but other investors included Vietnam, the Seychelles, Thailand, South Korea, Samoa, the United States, Singapore, and Sweden to name some.Economic growth forecasts generally range above 5 per cent for 2023 which are still in the top echelon in the region but there remain short-term and real threats too. In Siem Reap, which is so heavily reliant on tourism, the recent closure of The Lucky Mall was a shock to some but the decline in tourist numbers compared to pre-pandemic and fewer Chinese tourists have impacted the local economy, there might be a brighter horizon but there is a strain on local business.Siem Reap Angkor International AirportThe first flight to arrive at the new airport was a flight operated by Thailand’s Bangkok Airways, and the opening day saw 17 commercial flights operate.SAI has a capacity for 7 million air passengers per annum from 2024 onwards and is expected to increase to 12 million from 2040 after all phased construction is completed. This represents 65,800 flights per year from 2023 and 112,700 flights annually from 2040. This far surpasses the capabilities of the current Siem Reap International Airport (REP), which first opened in 1932.Funding for the airport was provided as part of the Belt and Road Initiative and with a price tag of approximately USD $1.1 billion. According to the Economic and Commercial Office of the Chinese Embassy in Cambodia, this is the first overseas international airport to be constructed under a “Build-Operate-Transfer'' model.The airport’s design is inspired by the traditional Cambodian architecture style and offers 38 aircraft berths. Another key economic consideration is the airport's ability to handle 10,000 tonnes of air cargo per year from 2023, climbing to 26,000 tonnes a year from 2040.What Is Available At SIA For TravelersFor travellers, although there has been little official information promoting what is available at the airport, there is a wide range of retail and F&B offerings at the airport. There are duty-free outlets run by China Duty-Free Group (CDF Cambodia), Newrest operates the food & beverage operations, and Seal & Go operates the baggage wrapping concession, and sells travel accessories and suitcases. Monument Books, the country’s largest bookstore chain, runs mobile retail kiosks under a franchise agreement with the Relay brand owned by Lagardère Travel Retail (as part of a 10-year contract.)Transport Options for Siem Airport International AirportSAI is located about 40 kilometres away from the Angkor Park and travel to and from the airport was a potential concern as it is relatively easy and cheap from the current airport in Siem Reap.In addition to informal transport services, transportation services at the new airport were issued by Angkor International Airport Investment (Cambodia) Co., Ltd. to the Tourist Transport Association for Siem Reap International Airport (TTA) to operate the taxi service to ensure the travel of tourists. There is also paid parking at the airport.TTA operates 261 minivans (less than 7 seats) and 69 minibuses (8-15 seats). The costs are $35/40 for a minivan or $8 per person on the minibus.One of the early criticisms is the frequency of the shuttle service which is reportedly only four times per day.Travel And TourismCambodia’s Ministry of Tourism reported that 3.7 million air travellers arrived in the Kingdom between January - September 2023. This is a massive jump of over 250 per cent compared to the same period in 2022 but still down nearly 20 per cent compared to 2019.The State Secretariat of Civil Aviation has forecast 4.6 million flyers by the end of 2023, with the end of the year usually signalling the peak season for tourism to Cambodia.In total, 37,200 flights operated to Cambodia in this period - a year-on-year rise of 103 per cent.Travelex has partnered with the National Bank of Cambodia to start trading Cambodia’s currency, the Khmer Riel (KHR), at Singapore’s Changi Airport.AirAsia plans to begin flights through its new Cambodian air operator’s certificate (AOC) by the end of 2023.The Right Marketing Is Needed To Promote CambodiaThe many ministries of the Cambodian government have embarked on positively promoting Cambodia to international travel, and there have been ongoing efforts to partner with agencies to showcase the country to travel, as well as efforts to increase direct flights with a number of new territories.One interesting potential boon is the impact of cinema. Lara Croft: Tomb Raider came out in 2001 and propelled Angelina Jolie to stardom and initiated a long-standing connection between her and the Kingdom. More recently Raya and the Last Dragon drew inspiration from Asia including Cambodia.Over recent weeks images (unverified) of a new Disney Pixar movie called Angkor Wat appeared on social media with a release date slated for 2025. We can find no official listing of the production from Pixar, but a theatrical release like this would undoubtedly garner huge global interest and attention which should be capitalised on.There have also been plenty of efforts made to improve Siem Reap itself, with the refurbishment of roads, adding bicycle paths and the city continues to boast some of the best and award-winning hotels in the region. Cultural activities such as the Phare Circus are a big attraction and new projects such as an Immersive Angkor museum remain in the pipeline.Gateway to AngkorSiem Reap remains a compelling tourist destination as it is the gateway to visit the 401 sq km World Heritage Angkor Archeological Park - the most popular tourist destination in Cambodia.Ministry of Tourism Secretary of State Top Sopheak said Cambodia received over 360,000 Chinese visitors in the first 8 months of 2023. This is a rapid year-on-year increase of 611 per cent but compared to 2019, it still is far off the pace, when more than 2.36 million Chinese visitors explored the site. There is a narrative from government and tourism officials that Siem Reap Angkor International Airport will help bolster these numbers, which may well be true. But data shows overall that Chinese tourism in the region is waning and the county has its own economic headwinds, as well as some stigma attached to travelling to parts of Southeast Asia.In the mid to long term though, the new Siem Reap Angkor International Airport will allow international airlines to fly directly to Siem Reap, and boost the number of tourists, businesspeople, and investors to come and understand the potential of Cambodia.

A new school year has already started for some in Cambodia’s capital, while other schools are in the process of preparing for the return of new students, teachers, and families to the various local and international schools situated around Phnom Penh.With new families and teachers arriving, which is an annual event at this time of the year, especially with the growing urbanisation of the city and the increasing numbers of international schools, choosing the right property to rent or buy should include various key decision-making factors.International Schools In Phnom Penh There is a growing demand for international education, and Phnom Penh is home to several highly-reputable international schools. There are thought to be more than 50 international schools in the capital in 2023, some are standalone, part of franchises, or spread across multi-campuses.The city also ranks among the most affordable in the region for international school education - the latest report from the International Schools Database suggested that Phnom Penh is in fact the second cheapest in Asia for international schools.Median prices for international schools are approximately USD $4,908, with highs of USD $20,340 per annum, suggested the report. Some of the leading international schools include the International School of Phnom Penh (ISPP), Northbridge International School Cambodia (NISC), Canadian International School of Phnom Penh (CIS), Lycée Descartes René Descartes and many more.For parents and families, it is important to decide if you want your children to follow American, British, French, Australian, Singaporean, or MoEYS curriculums when selecting the appropriate school, but there are fantastic educational services in Cambodia at international schools that offer a supportive and stimulating environment for their children's educational journey.Where Are Schools Located in Phnom Penh?Phnom Penh boasts a diverse range of educational institutions, catering to students of all ages and nationalities. The range of education has come on leaps and bounds and also spread more evenly around all corners of the city as Phnom Penh expands its urban creep in all directions. Reputable international schools often have a mix of experienced locally trained and international faculty staff and offer better facilities such as sports grounds, IT and technology labs and even drama theatres.Some of the notable areas with a concentration of reputable international schools in Phnom Penh include:BKK (Boeung Keng Kang)Daun PenhToul KorKSouth of Phnom PenhBuying Or Renting In Phnom Penh?If the move to Phnom Penh is a long-term one, buying a property is an understandable option but evaluating if the property will hold a high value and can potentially deliver on ROI (Return On Investment) are important. However, the valuation is probably not the only factor in determining the final choice. Safety, location, surroundings etc all play their part and these apply to renting the right property too.Properties located close to schools have an advantage due to the consistent demand from families and individuals seeking convenience and accessibility to educational facilities. Shared homes such as villas or condos and flats located near schools also hold great appeal for teachers and staff working at these educational institutions.Many families and teachers new to the city will choose to live within a reasonable distance of schools to save time and money. Hence good properties in prime areas can attract potential tenants from the school staff and higher rental demand.Settling in with your family or by yourself, it is shrewd to consider that properties near popular schools is a proposition that may attract both homebuyers and real estate investors. Properties located in areas with schools and other institutions have the potential for significant appreciation in property value, as they are sought-after in the real estate market.Cambodian Property Market Oversupply - Means A Wider ChoiceThe oversupply of properties in Cambodia since the pandemic has actually had a positive impact on property prices if you are a buyer or renter.Developers are now driven to offer more affordable options to attract buyers creating an opportune moment for buyers to acquire properties at a more reasonable price. In the same sense, it is a renters marker depending on the area you are looking at.The increased affordability has only enhanced the attractiveness of investing in Cambodian real estate, particularly for those seeking long-term investments and with a long-term view of their asset portfolio. For renters and buyers, it also means the oversupply of units in Cambodia has resulted in an array of choices for potential buyers and renters and some wriggle room for negotiation. The shift and correction in the market means has led to a wider array of projects available on the market, and the opportunity to select a property that best suits your preferences, requirements, and budget. This situation is likely to be temporary so do your due diligence, look for reputable developers and seek advice from professional real estate agents and advisors when renting or buying in Cambodia and in Phnom Penh.Location, Location, LocationOne of the key aspects is to focus on an area where you might actively live, work, and be happy.Currently, Phnom Penh's central BKK area has remained a highly desirable destination for visitors and expats seeking accommodation but is also among the most expensive. Schools located further away from the centre will likely have more affordable options in terms of property but might have fewer amenities but this is constantly changing.Below are some of the key considerations when choosing the right home to rent or buy in Phnom Penh:Safe NeighbourhoodThe continuous presence of parents and school & security staff, as well as the additional security measures around schools (CCTV, additional street lighting, zebra crossings etc), can positively impact the overall safety and security of a community and the area.Safety is a crucial factor when choosing a place to live especially when there is a young family to be considered. The reputation of a school can also have a positive impact on the area's safety and can significantly increase the desirability of properties nearby. As a result, in addition to peace of mind, the areas surrounding reputable schools can experience higher property value growth compared to other locations.Easy Access To AmenitiesSchools are usually located in neighbourhoods that offer various amenities, and Phnom Penh can be an anomaly as some of the best international schools were setup (at the time) what was considered the fringes of the city - but they have been surpassed by development. Some international schools would have been established on the outskirts of Phnom Penh to offer larger playing fields, more affordable large expanses of land etc but now there are better access roads, malls, cafes and a range of desirable amenities situated close by.This offers parents, students and staff access to more choices for meal breaks or after-school gatherings and just visible places to meet.For parents, and even the schools, the range of entertainment options in close vicinity to a school provides ample choices for recreational activities and areas such as parks, playgrounds, and recreational centres are becoming more in demand, and even a priority for new schools when they are established in Phnom Penh.Phnom Penh Keeps GrowingThe latest population census report released by the National Institute of Statistics of Cambodia highlighted some important trends, including family characteristics and population migration patterns. In 2019, Cambodia's population reached 15.6 million, with an annual growth rate of 1.4% compared to the 2008 census result of a population of 13.4 million. Phnom Penh continues to undergo urban population growth which means the city faces economic progress and infrastructure improvements but also new challenges to cope with the influx.Phnom Penh has in fact increased its area by over six times, reaching 679 square kilometres in 2019, and the World Bank indicated that Phnom Penh ranks second in terms of urban spatial expansion speed in East Asia. These facts are important as the city will keep growing outwards and vertically. If you had asked some residents today if ISPP or Northbridge schools would be enveloped by development at the rate they have been, few would have believed it.The southern region of Phnom Penh where ISPP and new mega malls are located is also the likely thoroughfare for the new Phnom Penh international airport which is under construction and likely to be operational by 2025 - with rumours of express bus lanes, light rail and other transport routes connecting the airport to the city all rumoured. Whether you are choosing to rent or buy, you need to keep in mind the area with vast development potential, the undeveloped low-cost land on the outskirts of the capital, and the continuously improving infrastructure projects which might change the city completely over the years to come.

Almost 100 of Cambodia's leading brands, developers, agencies, banks, and trust companies, along with popular lifestyle brands and a car showcase, recently came together for the country's largest property show of the year: The Home & Lifestyle EXPO 2023 held at the Koh Pich Exhibition Center, Diamond Island, last weekend, August 12th to 13th.This year's EXPO 2023 continued its success with over $15 million in property sales in just 2 days, featuring showcases, exclusive deals, and buyer incentives, confirming the sustained demand for property from within Cambodia and beyond.With the most reliable projects and popular lifestyle brands in the country, Realestate.com.kh’s biggest property show goes beyond properties. “Considering the current market conditions, we thought it was significant to have such an event. It is an opportunity to educate buyers about the pitfalls and what they consider when purchasing property, especially in this environment” said Tom O’Sullivan, CEO of Realestate.com.kh. “This year, we were particular with the types of developments and properties displayed at our event. I believe we brought out the country’s most trusted developers. The majority of projects displayed during the weekend were made to ensure quality and affordability. “Apart from projects, it was our first time introducing over 50 completed homes that were under market value. This expo was the ultimate chance to find properties in great locations at excellent prices. We were not surprised that most of these properties were snapped up over the two days,” he added.Organised by Realestate.com.kh, the biggest real estate platform in Cambodia, the EXPO series has been a staple of the country’s property sector gathering major brands all in one place for the benefit of Khmer home seekers and foreign property investors.The Home & Lifestyle EXPO 2023 received invaluable support from leading developers in the country such as Borey Peng Huoth, Orkide Development, Prince Real Estate Group, Bosba Property, Dragon Land, RoseMarvel Property Development, Urban Living Solutions and more. Other key partners in the private sector that contributed greatly to its success include IAAC Airport Advertising, Nham24, COGETEL (ONLINE), Poma Media, Khmer Times, Wowee Advertising, Provida Water, and B2B Cambodia.This year, it was also the first time that the EXPO proposed a concept for families. Local and international lifestyle retailers were able to showcase their products to the attendees. The two-day event also saw performances of Chhorn Sovannareach and Meas Soksophea ambassadors of Borey Bosba. Cambodia’s popular singers were highly anticipated and drew a large crowd to the event. The expo was also a fun day out for the family with Kids Wonderland, a dedicated play and activities area sponsored by SCIA and a food hall provided by Nham24. In addition, car enthusiasts had the chance to get close to the newest car brand and explore the future of mobility. Overall, the Home & Lifestyle EXPO was the place to be this weekend for families and property seekers.Cambodia’s most popular brands gave away prizes and other freebies to EXPO 2023 attendees. Adding excitement to the already eventful expo were the buyer and lucky door prizes given away during the 2-day expo. Prizes ranged from jewellery, vouchers, home appliances, and gadgets to premium services from the expo 2023’s commercial sponsors.The expo 2023’s big names, discounts, and prizes attracted big numbers as over 9,000 people flocked to the event over 2 days, all getting the chance to directly talk to developers and get much-needed advice and assistance in purchasing their dream homes and property investments.Real estate experts shared valuable insights on the Cambodian property market during the EXPO 2023. Some of the country’s leading experts, from various industries such as real estate & construction, banking & finance, insurance and many other lifestyle brands were present to provide buyers with guidance and advice. Rambo, 26, visited the expo and expressed excitement over the purchase of her first property in Cambodia. "I was able to learn more in-depth about the project and payment terms." The new homeowner of a villa in Borey Chankiri had the chance to win a new lounge chair set (Commune from T-One) with a golden egg prize following his purchase. The EXPO 2023’s $15 Million+ in sales showed interest to buy homes and invest in properties in Cambodia. As of writing, Realestate.com.kh continues to receive inquiries from would-be buyers of ongoing offers from EXPO 2023 Exhibitors. The Realestate.com.kh team thanks all attendees, exhibitors, and sponsors for making the Home & Lifestyle EXPO 2023.The Realestate.com.kh EXPO continues to set a new benchmark for Cambodia’s offline events and unveiled a market simply waiting for the right guidance and opportunities in the Kingdom’s real estate market.Looking for a property in Phnom Penh today! Contact our real estate experts to explore the best options that suit your needs and budget via our concierge servicesClick Here

The Royal Cambodian Government recently signed a sub-decree announcing the public holidays for 2024. One of the most significant changes is the extension of the Khmer New Year holiday. Traditionally spanning three consecutive days, next year's celebration will now encompass four days.Below is a chart displaying the dates and holidays for 2024Date Public Holiday January 1 (Monday)International New Year's DayJanuary 7 (Sunday)Victory over Genocide DayMarch 8 (Friday)International Women's DayApril 13-16 (Saturday, Sunday, Monday & Tuesday)Khmer New Year's DayMay 1 (Wednesday)International Labor DayMay 14 (Tuesday)King's Birthday, Norodom SihamoniMay 22 (Wednesday)Visak Bochea DayMay 26 (Sunday)Royal Plowing CeremonyJune 18 (Tuesday)Queen Mother's Birthday, Norodom Monineath SihanoukSeptember 24 (Tuesday)Constitutional DayOctober 1-3 (Tuesday, Wednesday & Thursday)Pchum Ben October 15 (Tuesday)Commemoration Day of King's Father, Norodom SihanoukOctober 29 (Tuesday)King's Coronation Day, Norodom SihamoniNovember 9 (Saturday)Independence DayNovember 14-16 (Thursday, Friday & Saturday)Water Festival Ceremony

There seems to be uncertainty in the air about property investments in Cambodia, despite the forward-looking data and overall sentiment from visiting investment groups which have been overwhelmingly positive. One of the legendary investment pioneers Warren Buffett's most famous quotes is “Be greedy when others are being fearful'' and eagle-eyed buyers have been snapping up Cambodian properties at good prices. This all depends on your strategy and goals but for some time we have suggested it is a cash-rich buyers' market in the Kingdom with market prices a better reflection of the value and new developments appropriately adjusting to the market and demands. Owning and Renting Property in Cambodia As A ForeignerCambodia introduced the Strata Title Law in 2010 and this enabled foreigners to own condos above the ground floor. The policy was aimed to attract foreign investment and stimulate economic growth- there are also no specific legal restrictions on foreigners renting apartments in Cambodia. Despite rates of urbanisation in the Kingdom among ASEAN nations remaining very strong, renting (or buying) an apartment is a relatively straightforward process, and it's easy for expatriates to easily find suitable options depending on their budget across Cambodia, particularly in the urban areas.Average asking prices for high-end condominiums in the capital were USD $2,609 per meter according to a CBRE Q1 2023 report. These have dropped off but property and condo investments are meant to be long-term holds and investors and buyers who hold on to their units will likely see future gains. The vision needs to be long-term and not panicked by ebbs and flows in any market.A recent report released by Realestate.com.kh highlights a substantial adjustment in the pricing of off-plan condominiums that occurred when contrasting 2019 prices with those in 2023. The report indicated the average price per square meter for off-plan condominiums in the capital has decreased from USD $2,800 to $2,000 / sq.m. We have addressed the market price corrections previously and this has led to off-plan condominium sales and robust sales rates for new condominium project launches in Phnom Penh, especially for well-developed new launches from developers who have established and proven track records.Buyers of property (both foreign and Cambodian) are better informed in their decision-making and there is more regular, and hopefully, reliable reporting on the markets. The current property market sees homeowners looking for quick sales - and the market still is advantageous for cashed-up buyers to secure purchases at favourable prices.According to the Semi-Annual Report 2023 from the National Bank of Cambodia (NBC), the total amount of loans released by banks in Cambodia increased to 11.9 per cent (USD $45.8 billion) in the first half of 2023. Housing loans increased 17.5 per cent (worth approximately USD $6.64 billion) compared to 2022 as the real estate sector grows in 2023. The NBC report indicated that housing loans by banks was the sector with the second fastest growth.While the sale of twin and single villa residential projects has declined, the Residential Property Price Index (RPPI) showed that the prices have not remarkably changed in 2023.Finally, the report added that the sales of condominiums in Cambodia have positively increased 12.9 per cent in the first half of 2023 compared to the same period in 2022 - while the number of construction projects has fallen approximately 10 per cent from 2,000 to 1,800.There were still ten completed condo projects and 3 new launches in the first half of 2023 in Phnom Penh which saw 1600+ condo units enter the market with 8,000 expected in total by the end of the year.Realestate.com.kh CEO Tom O’Sullivan said recently there was a spate of ‘revenge spending’  post-pandemic as some buyers thought it would be the last time to buy property at affordable prices before it bounced back stronger but this hasn't necessarily been the case in 2023 - also due to global economic headwinds. O’Sullivan said that the prices have stabilised in the Cambodian property sector to be more realistic and re-iterated that new developments that have launched in 2023 have offered lower and more realistic margins and are coming online at a great price.“Whether it's on our platform or those expressing an interest (with healthy down-payments or cashed-up investors) buyers are ready to take up the opportunities in the Cambodian property market,” added the CEO.Investor Groups Remain OptimisticThe global market conditions, the unease of how China has recovered in 2023, and the increased interest rates have all been headwinds for the local sector but these should be short-term.The recently released survey on EU business sentiments in the region is very favourable, while there have been on-the-ground investor visits from Singapore, Thailand, and China in 2023 who have been impressed by the scope of general business opportunities.The EU-ASEAN Business Council views ASEAN as offering the best economic opportunities over the next five years and some of the regional positives are all reflected in the appeal of Cambodia; macroeconomic conditions, the policy and regulatory environment, and the development of bilateral and plurilateral free trade agreements in the region. The investor sentiment was reflected in the fact that European businesses expressed a positive outlook on looking to expand their operations in ASEAN.The Cambodia Consumer Report 2023 (produced by Standard Insights and Cambodian-based consulting firm Confluences) provided an overall positive outlook towards economic growth too among Cambodian consumers - 91.83% are hopeful about their future.Why Cambodia Remains Investment Friendly There have also been a glut of investment reports released on Cambodia in 2023 and the same recurring themes remain the same and the same attractions ring true for the years to come.Realestate.com.kh Why Cambodia Guide, the DFAT Handbook on Investing in Cambodia, a collaborative endeavour between Cambodia and Australia, as well as the Profitence Cambodia Country Profile all sing to the same tune, Cambodia offers numerous advantages to investors:Solid economic growthStrategic geographical locationFavourable investment climate for foreignersGrowing infrastructure developmentSupportive legal framework and social and political stability.The country has been one of the fastest-growing economies in the region and GDP for 2023-2025 remains very strong even among frontier markets and especially in Asia. Cambodia has managed to successfully attract foreign direct investment, and the economic reforms are favourable to foreign investors while also optimistic for significant economic growth. The Cambodian market is actually very open to foreign investment, with 100 per cent foreign-owned investment permitted in almost every sector and foreign ownership of property in some cases also allowed, the expanded Trust laws are opening this up even further.Finally, there has been an alignment with international investment frameworks and a real attempt by the National Assembly to work with investors From the Trust Law, Construction Law, Law on Public-Private Partnerships, Law on E-commerce, Law on Social Security Scheme, Law on Consumer Protection, Competition Law and the Law on Investment).Finally, buyers and investors want stability. The scheduled swearing-in of the new Cambodian government reshuffle expected on August 22, 2023, should offer this continuity and stability as the nation will be led by a younger and foreign-attuned cabinet who are keen to implement and build on the progress made by the Kingdom over recent decades.

Phnom Penh is multicultural and forever morphing as the capital city balances its growth as a hub of investment and a destination of choice for business, Cambodians, and foreigners who might be relocating temporarily or permanently to the Kingdom. No city is without flaws, but the relative ease of transportation across the capital, the massive range of dining, retail options, sporting & leisure activities, as well as promising infrastructure projects in the pipeline, means there is plenty for families to enjoy in Phnom Penh. Affordable Living and Property - Phnom PenhNo matter which way you cut it, Phnom Penh remains an incredibly affordable capital city which offers a mixed variety of retail, leisure and all the bright lights that attract expats, Cambodians, business and travellers. The ease of living and affordability when it comes to housing options and the choice available is clear to see.From condos, to refurbished Khmer properties and shophouses, boreys and even villas - there is a budget and space available to everyone, but especially to those moving to the Kingdom from abroad. (For those bemoaning assumed rising costs, having just been through Hong Kong and in Europe, Cambodia has a long way to go to worry about being priced out of housing!)There thankfully also been a trend in the rise of incorporating green spaces in both residential and commercial properties in Cambodia, yes its not at the level we might all like it to be, but the combined importance of the environment’s well-being but also mental health has resulted in a demand for eco-friendly buildings, green infrastructure, and access to nature.Whether you are renting or you decide Phnom Penh is a long-term investment and living destination for you, there are several excellent guides to help you with the process, but the fact that foreigners can own property, own a business, and relatively easily renew visas in Cambodia are all attractive. Education In CambodiaThere are a large number of private schools operating in the Kingdom, and they are among the most affordable in the Asian region. The latest report from the International Schools Database suggested that Phnom Penh is the second cheapest city across Asia for international schools. More and more international school franchises continue to enter the market and the report indicated that the median prices for international schools in the capital of Cambodia are USD $4,908, with highs of USD $20,340 per annum.Whereas in the past, providing specialised services for youths and kids who need adaptive educational, developmental, emotional, or behavioural education would have been a challenge, the situation has improved. This is also true for mental wellness and specialists who offer expertise for children.Some Cambodian banks even offer junior bank accounts and promote tools for managing​ money​ and​ building​ healthy​ saving​ habits.Family Activities In Phnom PenhOver the past decade some fun family and group activities have come and gone, but there is probably a wider choice available now than ever before. Providing safer and more diverse playgrounds and recreational facilities for families with kids and tweens in mind have been more carefully planned and considered by developers, businesses, and to some extent the Sangkats.Utilising swimming pools on the weekend (either at condos or at the many hotels that allow outside guests) has been a longstanding pastime. That has been elevated with the likes of Garden City Water Park (which is also ideally located near the Phnom Penh Safari.)There are also escape rooms, Fly Phnom Penh (trampoline park) and even a skatepark located at The Factory which also hosts events and fairs.Other sporting activities aimed at youths (and many age groups) include the CIS Roller Dome, several coaching clinics and youth sports from AFL, GAA, Touch Rugby, Soccer, Basketball, a variety of MMA etc.Even if sports are not for you, there is a range of arts and crafts, music and dance, as well as board games cafes and clubs, Dungeons & Dragons groups and other tabletop game activities and clubs in the city (try Battle Forged for Warhammer and Games Workshop).Parks on Koh Pich (Diamond Island) such as Treellion and Coconut Park have regular events, live music and some greenspaces for the family with farmer markets becoming a regular occurrence.Coconut Park has held public film screenings, offers a kids splash pad area, and arts and crafts indoors as well as a dance studio. Treellion Park is home to the city’s only put put course (Birdies Mini Golf) and hosts several concerts and music and themed events, dining options, as well as the popular DIB club swimming pool and even Karting!Malls are everywhere now in the capital with more coming. This means they address the retail therapy needs but also offer welcome relief from the hot days as they are air-conditioned. There are many family-friendly activities (and better shopping choices for kids' toys and clothes as well as educational supplies.) From gaming arcades, bowling, to affordable cinema experiences (budget to Imax) the edutainment side will be on the up and up as malls compete for customers. Dining out, the surge of food delivery apps, and the sheer abundance of cafes and restaurants mean there is a wide range of international and local cuisine that is perfect for family feasts and for many budgets. One perk is there is better education on allergies and the availability of menus that cater for these as well as lactose intolerance and even gluten-free requirements but the sector still has to make some progress in this regard.There are also a plethora of online activities to keep families and kids entertained from online and mobile gaming, streaming services and so much more.Weekend GetawaysAside from the increased ease of international travel and flights -  especially with a mid-long term view of the additional and ambitious airports being developed in the Kingdom - there are such an abundant number of rail, ship, and highway projects under construction and in the pipeline, the reality is domestic and international travel will become more affordable, and less time-consuming. Getting the family in a car and heading to the coast and exploring the islands and a planned remodelling of Sihanoukville, venture to wildlife and nature at Kirirom, or head to explore Siem Reap, Kep or Kampot all over a weekend.If it's school holidays, or making use of the many public holidays still officially recognised in the Kingdom, escaping the city is as healthy and necessary as enjoying all of the benefits Phnom Penh has to offer on a day to day basis.The completion of the Phnom Penh Sihanoukville Expressway has significantly improved accessibility for domestic travel from Phnom Penh to the coast, reducing the travel time from six to just 2.5 hours - and the options of buses, private taxis or your own transport means there are multiple ways and budgets to travel by.Facebook and other social platforms such as Telegram are commonly used means to interact with expats and for specific activity and parenting groups in Phnom Penh.We have spoken to so many expats who have left the city over recent years, and all we spoke to are unified in their fondness of Phnom Penh. The ease at which you can socialise, travel, dine, and enjoy life are clear to those who call the capital home.

Realestate.com.kh is bringing back its massively popular Home & Lifestyle EXPO 2023. The event which is just one month away will be happening on the weekend of August 12 & 13, at Koh Pich Exhibition Centre.The Home & Lifestyle EXPO is part of Realestate.com.kh's annual events, offering attendees the opportunity to secure the best deals within the Cambodian market and also have the chance to engage with industry-leading banks, insurance providers, and real estate experts. The biggest names in property development across Cambodia will be on display including Borey Peng Huoth, OCIC, Orkide Development, Prince Real Estate Group, Morgan Group, RoseMarvel Property Development, Borey Dragon Land 598, Borey Bosba, Rose Apple Square, Odom, Bakong Village, Borey Chankiri, Leedon Heights, Le Condé BKK1, Creed Cambodia and many more. International developers and real estate companies will also be exhibiting at the event presenting opportunities to investors in Cyprus, Canada and the USA.Click here to register for express entry or inquire about being an exhibitor Win Big At The Home & Lifestyle EXPO 2023Apart from securing the best deals in real estate and other mid to high-end items, attendees will go into the draw to win some of the best prizes, including watches from Watch Empire, fine jewellery and more. During the two-day event, property developers and exhibitors will be providing exclusive incentives, freebies and more discounts and exclusive prizes to attendees and buyers attending the show. When, Where and What Time? The Home & Lifestyle EXPO 2023 will be held at the Koh Pich Exhibition Center. The EXPO 2023 will be held on August 12 & 13, Saturday and Sunday from 10:00 am until 8:00 pm both days. The Home & Lifestyle Expo 2023, Above and Beyond Properties & Services and Fun for the Whole FamilyLast year's expo proved to be an incredible gathering that attracted families and participants of all ages. Parents, children, and the elderly came together to spend a memorable day immersed in the world of real estate and lifestyle. “Last year’s event was our first since the pandemic, and was a huge success, beyond our and the exhibitors’ expectations. There are already 5,000 attendees registered to attend, and based on that we expect to break last year's record of 12,000 people.”“Ultimately, our goal is to give home buyers and investors an opportunity to get the best deals in real estate, cars and other items of the year. By adding attractions, kids' play areas, cars, an extensive food & beverage area and more it allows us to not only put on the biggest and best property expo but also to create an experience where people and families can have a great day out together. ” Mr. Tom O'Sullivan, CEO of Realestate.com.kh said.Click here to register for express entry or inquire about being an exhibitor A Series of Record-Breaking SuccessesThe most recent Real Estate EXPO held at the Premier Centre Sen Sok Phnom Penh in 2022 was a major success that broke the country’s biggest property sales event ever in Cambodia with a whopping more than $30 million in sales and attracted over 12,000 visitors. Cambodia’s Leading Boreys, Condos, Banks, Lifestyle & Corporate brands The who's who of Cambodia's property market and ancillary services are already onboard with more coming as the EXPO 2023 on August 12 & 13 draw closer.Major sponsors & key supporters include: IAAC Airport advertising, COGETEL (ONLINE), NHAM24, Legend Cinema, Wowee Advertising, Poma Media, Watch Empire, Provida Water, Cambodian Investment Management, B2B Cambodia, and Gold Zone Media.Exhibitors include: Borey Peng Huoth: The Eco Collection, The Star Polaris 23 Condominium, PH Grand Hall, Orkide Development: Orkide The Botanic City, Orkide The Pochentong, Orkide The Royal Condominium, Prince Real Estate Group: Prince Central Plaza, Prince Happiness Plaza, One Tropica, Morgan Group: Morgan Tower, Morgan EnMaison, Morgan Champs-Elysees, Overseas Cambodian Investment Corporation (OCIC), RoseMarvel Property Development: Mean Chey Residences, Urban Living Solutions: Rose Apple Square, Odom, Bakong Village, Urbanland: Borey Chankiri, Borey Dragon Land 598, MSQM ZTH: Leedon Heights, Le Condé BKK1, Residence H Sen Sok, Creed Cambodia, Borey Bosba, Chroy Changva Satellite City, Borey Heng Heang, Borey New Hope, Tourism City, Borey Mongkul, KH Land, ABA Bank, Canadia Bank, Shinhan Bank,  KB DAEHAN SPECIALIZED BANK, GAC Motor, ISUZU, Forthing, STMarket, ARISTO Developers, DeGrand Realty, Borey Mongkul, Upward Property, FazWaz Cambodia, Parc 21 Residence, eMedia Links, Simplex, Stronghold Trustee, Orkun Solutions, Hitachi Elevator, MOVE By LM CAR, DreamsTown and more.Media partners include: Khmer Times, B2B Cambodia, AmCham, Cambodia Investment Review, Property Area Asia, Gold Zone Media, The Cambodia China Times, Enjoy Cambodia, Business Cambodia, FreshNews, Koh Santepheap Daily, Kampuchea Thmey Daily, ThmeyThmey, CNC, BTV, PNN, Hang Meas, CTV, TVK, CTN, Jianhua daily.Click here to register for express entry or inquire about being an exhibitor The Home & Lifestyle EXPO is part of a series conceived by Realestate.com.kh’s founder Moek Chenda and the company’s CEO Thomas O’Sullivan with the vision of creating an event where buyers can secure some of the best deals in real estate. The event is completely free to attend, and apart from surveying the property market families can enjoy a great day out by visiting some of the attractions such as the latest in property technology, car test drive areas and kids entertainment zone.