The rising Cambodia economic growth in recent years has indicate strong positive signs in its property market. With an estimated USD1.75 billion worth of construction investment, land prices in Phnom Penh most premium areas have risen up to a 100% with a slew of luxury residential projects. So it is the perfect time for an Exclusive Cambodian Property Show in Singapore!Investors can preview the latest projects while gaining insights from industry leaders and developers directly on how the Cambodia property market will fare in 2016 and beyond. Head down to the Cambodian Property Show in Singapore at the Singapore Marriott Tang Plaza Hotel 28 & 29 of May 2016 and listen to what the industry experts have to share and, to find out the most sought-after residential projects. Sign up for this event today and receive an exclusive set of vouchers worth more than S$500* at our registration counter and, stand a chance to win a staycation at Hollandse Country Club and dining vouchers at Singapore Marriott Tang Plaza Hotel worth more than S$1,000*! ARE YOU BASED IN SINGAPORE?Come and learn more about exciting Cambodian projects at the Marriott Tang Plaza Hotel, Singapore: MAY 28 & 29!

Eastland Development Ltd. has demonstrated its full commitment to stay in the Cambodian market and wishes to support the economy through developing innovative real estate projects, fit for the local market and international investors alike. “Cambodia is exhibiting the correct economic growth indicators, investment incentives and political stability to allow us to enter this market in a real estate-related faculty,” said Sam Yang, CEO of Eastland, and “we know these same qualities are appealing to many other international property investors.” Eastland Development Co. Ltd’s head office is located in Hong Kong and is one branch of the world renowned Yuetai Group, which has over 8 Billion RMB in total assets. The Yuetai Group was among one of the first trailblazers to enter the Chinese real estate development market in 1994; and in just over two decades, the Yuetai Group can proudly stand behind a development portfolio that covers more than 20 groundbreaking projects, 10,000,000 sq/m of total floor area constructed, spread across 9 provinces of China. In 2003, the Yuetai Group successfully purchased the majority equities of the listed company Guangzhou Donghua Enterprise Co. Ltd. (SH600393). The Yuetai Group has won various honors for their real estate developments, including the Guangdong Top 20 Real Estate Qualification and Credit Enterprise Award, Guangdong Top 100 Private Company Award, the Guangzhou Top 10 Most Competitive Real Estate Developer Award, Guangzhou Trustworthy Brand Developer Award, and a Contract Abiding and Creditable Enterprise Award, to name just a few. The first Eastland Development project to reach completion is “East One International Apartments” project – a condo development which is already 90 percent sold and under construction in Duan Penh, central Phnom Penh. East One is located within minutes of the central business district, the Prime Minister's house, and the majority of the international embassies. It will include a hotel, ample carparks, full services for residents and amenities such as swimming pool, gym and recreational areas. Main construction is now complete, and East One will be fully furnished and ready for handover to buyers by March 2017. Based on the success of East One, Eastland then launched “East Commercial Center (ECC)” along Norodom Boulevard, a key artery road of Phnom Penh, dotted with government ministry offices and embassies. The East Commercial Centre (ECC) will have 38 floors of pure Grade B office space, divided into small and affordable units, with low management fees, and common areas with all necessary business amenities. Eastland selected to build to Grade B office standard because there is a huge shortage of affordable office space in Phnom Penh, and this grade is in very high demand currently. This guarantees market absorption of the project on completion in 2017. The following stage of this development will be the East View Residence project, which will include four 38-floor high residential buildings. This will provide living space for international and local business people working within the ECC tower, meaning they will not have to commute to their place of work. Eastland’s long term partners in all of these projects within Cambodia include the China State Construction Engineering Corporation, China’s largest and most renowned construction company, and Buildwork Asia, a full-service property management company from Japan with over 50 years of experience in the property management industry. Inquire about Eastland projects today on Realestate.com.kh, Cambodia’s home of real estate: EAST ONE INTERNATIONAL APARTMENTS | EAST COMMERCIAL CENTER ECC | EAST VIEW RESIDENCESThese Eastland projects have sold very quickly in the local Cambodian market, Taiwan and China. However, sales will now launch in Singapore and Hong Kong, as the Cambodian property market profile has now developed considerably in these markets. Eastland offer a level of quality and professionalism that the Hong Kong and Singaporean markets expect, with a unique company experience and understanding of what makes a project suitable, saleable and rentable for the local Cambodian market. Cambodia has also evolved into a place of notable political stability, despite a largely unverified international stigma. The country has now had the same Prime Minister for more than a quarter of a century, the longest serving non-royal leader in South East Asia. Out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Most attractive about the Cambodian property market for foreigners is the unique ability to invest totally in US$. There are no restrictions for exchanging US$, making it a highly-free flowing currency, and a global currency showing superior stability to all others. Transferring funds from abroad into Cambodia is very easy and able to be done with very little process. Meanwhile, when you resell your property in Cambodia, you can transfer your money outside of the country very easily, simply by showing your receipt of sale. Appreciation gains for Cambodian real estate are much more attractive than other established markets thanks to the nation’s consistently fast growing economy and GDP. Buyers of property in Phnom Penh can safely expect 6 to 8 percent appreciation. And, especially for Eastland projects, a 7.5 percent 5-year leaseback guarantee is available for all buyers. Meanwhile, investors in Cambodia are guaranteed secure assets, with well-versed freehold foreign ownership laws and highly attractive long term lease policies. Yang also cites China’s “One Belt One Road” initiative – wherein Cambodia is a part of China’s elaborate plan of land and sea connections to the rest of Asia, Africa, and Europe – saying that plans for the Chinese railway in coming years would only aid international investment in Cambodian real estate, and fuel the economy further. “We are extremely confident that the next great international economic boom will happen within the ASEAN countries,” concludes Yang. Don’t miss out your chance to invest in the last real estate frontier, Cambodia, with a developer you can trust, Eastland Development. Inquire about Eastland projects today on Realestate.com.kh, Cambodia’s home of real estate:EAST ONE INTERNATIONAL APARTMENTS | EAST COMMERCIAL CENTER ECC | EAST VIEW RESIDENCESARE YOU BASED IN SINGAPORE?Come and learn more about Eastland's projects at the Marriott Tang Plaza Hotel, Singapore: MAY 28 & 29!

Camhomes would like to congratulate all new buyers who came and booked units at “The D’Seaview Exhibition” at AEON Mall from 7-15 May!Buyers who visited the D’Seaview exhibition on 7 May at @AEON enjoyed the special offer from Camhomes: “Buy one get one free,” for retail and residential unit purchases.During the roadshow at Aeon, new buyers also enjoyed Double Prizes! Including instant gifts of Samsung S7 Smartphones, and the chance to win a Honda Scoopy 2015, TV, oven and fan. Learn more about current promotions!And everybody got a chance to meet Cambodian celebrity: Aok Sokunkanha! Thanks to Camhomes!Even if you missed the show at Aeon Mall last week, it is not too late to secure your dream home in D’Seaview in Sihanoukville!  Inquire today with the friendly Camhomes team in Phnom Penh or Sihanoukville!

Welcome to another real estate news recap, from Realestate.com.kh – your leader in property information! Keep up to date with market changes, and be an investor with FORESIGHT!Cambodia and Russia Partnership:In a discussion May 16 with Russian Prime Minister Dmitry Medvedev, Cambodian Prime Minister Hun Sen proposed converting a portion of the $1.5 billion that Cambodia owes to Russia into economic and investment cooperation opportunities. This was on his recent visit to Russia. While there has been no clear statement of how the two countries will go about this issue, Medvedev and Hun Sen continued to sign an agreement that put importance on trade, investments and defense. This, according to the prime ministers, will strengthen and highlight the relationship of the two countries which already spans decades in history.The Rise of Sihanoukville:While Prime Minister Hun Sen discussed investment opportunities and economic alliances in Russia, the Cambodian Minister of Tourism, Thong Khon, and the Minister of Land Management, Urban Planning, and Construction, Chea Sophara, had their own discussions about portioning Sihanoukville into three segments or sections to make it more manageable. The three sections will be characterized as luxury beaches with the private sector, public beaches with the private sector and public entertainment beaches. How this affects zoning and property allocations remains to be seen.The Division of Sihanoukville:The segmentation of Sihanoukville seemed like a fair agreement for everyone. After all, this will allow authorities to easily manage local policies and accesses. Everything seems fair, of course, until someone says it isn’t. This is the case with 14 vendors whose stalls and businesses were demolished in the Ochheuteal beach on April 9. This was after an eviction notice was given to them on March 13. It was reported that there were around 30 stalls that were dismantled to make way for infrastructure and a garden. Some of the vendors had agreed to the $3,500 compensation, but there are still a few who refuse to come to terms with this new development. The evicted vendors had already filed a complaint with the Interior Ministry last Tuesday. As a result of this, Secretary-General Khieu Sopheak has tried communicating with Preah Sihanouk Provincial Governor Yun Min to see if this issue can be resolved peacefully.A First for Pursat Province:Since the discovery of an investment potential for a development in Pursat Province, local developer – Green Trade – is planning to build a mall and flat along National Road 5 at the Lor Lork Sor district. This road bears much value as the connector of Bangkok, Ho Chi Minh and Phnom Penh. According to Okhna Phou Puy, the head of the Cambodian Rice Millers Association and also the director of Green Trade, the development will also build a farmer’s market and compound flats. Construction is expected to start by the year 2017 where they hope it will meet the New Year with a bang.Chroy Changvar Land Titling:With a welcoming embrace of doubt, local groups for land rights had warmed up to the announcement of District Governor Klang Huot that titling will start this week for residents affected by the Overseas Cambodia Investment Corporation (OCIC) development which is valued at around $1.6 million. Klang Huot adds that officials coming from the Ministry of Land Management, Urban Planning and Construction will arrive to also inspect the communes of Prek Tasek and Prek Leap. Residents were advised to ready their land documentations and plot their lands but have yet to receive details about how much the compensation will be. Officials have yet to confirm the final terms for the said titling.EEU Free Trade Zone: In a statement made by Russian Deputy Foreign Minister Igor Morgulov at the Russia-ASEAN Summit held in Sochi, he reveals that a number of countries in Southeast Asia have expressed the will to create a free trade zone agreement with the Eurasian Economic Union so as to establish healthier business ties and investment opportunities amongst them. These countries include Cambodia, Thailand, Indonesia and Singapore. It’s still not clear whether the EEU is open to accepting this type of partnership with the above-mentioned countries. Until this is confirmed, the free trade zone remains to be a possibility and a topic of interest.

Talks of growth in Cambodia has made it a hot-spot for foreign property investment in the last few years, and the nation is receiving worldwide interest from property developers and investors. Known for its beautiful culture, awe-inspiring beaches, mystical forests and rivers, and enormous temple complexes, it’s easy to understand why everyone wants a piece of it. But more than the aesthetic beauty of the country, there are a few other things that give Cambodia its property investment charm:U.S. Dollar Based Investment:Cambodia has used the U.S. dollar as one of its main currencies for a long time now, over 20 years in fact. The government explains that the US$ provides stability in the market with ease of conversion from Riel (the local currency). This makes transactions less complicated for investors and offers a currency option that faces very few transfer restrictions around the world. There are no restrictions for exchanging US$, making it a highly-free flowing currency, and a global currency showing superior stability to all others over recent years. Transferring funds from abroad into Cambodia is very easy and able to be done with very little process. Meanwhile, when you resell your property in Cambodia, you can transfer your money outside of the country very easily, simply by showing your receipt of sale. Many regional banks that have opened in Cambodia also offer ample support for foreign investors who wish to enter the growing real estate market of Cambodia.Early Development Phase:Even though the Cambodian real estate industry has come a long way in the preceding years, there is still a large chunk of undeveloped land and untapped districts able to be utilized by investors and developers from overseas. Most developments in recent years have focused on the capital Phnom Penh, the beach town of Sihanoukville and the tourist destination Siem Reap; but Cambodia still has huge potential for growth in other regions, and investors are welcome to join in when they bring FDI, infrastructural support and experience.Impressive Growth in GDP:Research from a large variety of sources has demonstrated a consistent average GDP growth of 7 to 7.5 percent in the last 5 years for Cambodia. This has allowed the Kingdom to rank 21st in this measure of growth worldwide, and the 1st in the Southeast Asian region – further solidifying its integrity for potential growth into the future. While the bulk of this GDP has traditionally come from garment manufacturing, the economy is entering a phase of diversification and value-adding upskilling which is set to take the economy to a new level of sustainability, for both investors and Cambodian nationals. In fact, last year construction was the largest engine of GDP growth in Cambodia - a testament to the emergence of a booming real estate industry. Appreciation gains for Cambodian real estate are much more attractive than other established markets thanks to the nation’s consistently fast growing economy and GDP. Buyers of property in Phnom Penh, for instance, can safely expect 6 to 8 percent appreciation each year.Secure Assets:Development in policies regarding strata titles, whereby foreign investors can purchase co-ownership in a property as a workaround of the Cambodian State Constitution, has proven to be a profitable decision for its economy and a key for foreigners looking at entering the real estate market. Long term lease policies have likewise allowed huge opportunities for international investors to enter the market and these have provided security sufficient to encourage more and more inward investment.Strategic Trade Location and Logistical Integration:Lying between equally competitive and growing neighbor countries, Cambodia is located alongside Thailand and Vietnam. Meanwhile, the economy sits between the two giants of China and India, with consistently growing partnerships with both. It has also joined ASEAN and has established highly beneficial trade agreements with Europe, North America and Australasia. Infrastructure and trade services have been one of the things Cambodia has pushed very hard on in recent years. That is why it has continued to build better roads, railways, bridges and deep sea ports. It has also continued to develop its international flight connections across the country so as to integrate fast transport and travel for investors. As part of China’s “One Belt One Road” policy, the country will also soon see interconnecting railways across the Asian region and into Europe.Political Stability: The fact that the Kingdom has had one prime minister for almost a quarter century means that there has been, and will continue to be, consistency and continuity in its highly investor friendly policies and political practice. In fact, the current prime minister represents the longest-ruling non-royal leader in South East Asia. Out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Retirees' Mecca:Cambodia boasts a low cost and high-standard of living for retirees; offering a great lifestyle at a fraction of what it would normally cost in other places in the region, and tiny compared to highly developed economies. This is what makes it a perfect retirement spot for foreigners. This is becoming increasingly so as the nation's logistical connections, health system, schools, visa support systems and infrastructure grows in leaps and bounds. People:According to the Population Division of the United Nations’ Department of Economic and Social Affairs, Cambodia has about 15,700,000 people, and these people are the Kingdom’s greatest asset in terms of growth. They are not merely spectators to growth; they are the drivers of economic progress - given that 70% of this population is under 30 years of age! Aside from that, the people of Cambodia are also naturally friendly and welcoming, and most understand the value of partnering with internationals for benefits in terms of sharing worldly experience, education and economic benefits.   These are just some of the things that have given Cambodia its charm for investors in the last decade. And as more and more people see the great accomplishments in its past developments and its full potential beginning to emerge, it will soon grow even more attractive for property investment opportunities, whether at a personal or at a business scale. Nevertheless, for the most appreciation, NOW is the time to consider investing in Cambodian real estate! FIND A PROPERTY NOW!

CB Richard Ellis (Cambodia) Co., Ltd. (CBRE Cambodia), first came into existence in 1993 and is now the world’s largest commercial real estate services and investment firm.CBRE has an employee count of 70,000 in 400 offices worldwide. Foreign nationals from the UK work within each subsidiary company and pass on international knowledge to local staff in offices across the globe.Attributing to its strong market growth and expansion, CBRE Cambodia launched in Phnom Penh, Cambodia, in 2008.Equipped with more than two decades of experience in the real estate industry, CBRE Cambodia has provided assistance in all different aspects of the real estate industry, all over the Kingdom. With the help of its specially trained experts, they offer services like execution for property sales and leasing, strategic advice and consultation, corporate property sales and management, full facilities and project management, all types of appraisals and valuation, mortgage banking, in-depth research and consultancy.CBRE Cambodia also have experience in a lot of types of properties and transactions, including villas, boreys, condominiums, apartments, shop houses, office leasing, industrial space, hotels, resort, land, investment, retails for rent and retails for sale.Senior Associate Director, Sothida Ann, says that, “CBRE does not directly invest in or acquire projects in the market; we are a service provider using our experience and regional support to provide our clients with the soundest advice when they are looking to invest in the market. One of our main areas of work is in research to advise developers and investors on whether it is the right time to enter the market, often performing feasibility studies for the client to see if their project is viable.”With its goals focused on setting a strong regional presence and widely respected service record, CBRE Cambodia have attracted, and are still attracting, investors from all over the globe to the Kingdom.CBRE Cambodia represents one of the most trusted and reliable firms in the Kingdom - not just because of its years of experience globally; but because of what they have achieved in the two decades that they have operated.As a testament to its success, CBRE Cambodia has been involved with key local projects such as the Australian Embassy, Phnom Penh Tower, Hongkong Land’s new development projects, Vattanac Capital Tower and Song Saa Island Resort, to name just a few.CBRE Cambodia leads the pack; because, unlike its competitors that offer only two-dimensional assistance packages for potential owners and investors, CBRE Cambodia has made certain that it can offer 360 degree assistance from step one - the time that you would need the most guidance and education - right through to final completion.CBRE Cambodia’s triumph is not only in acquiring as many investors as they can to grow their business, but in the quality of their services: an irreplaceable tool for investors and developers to find success in their current and future ventures.VIEW CBRE's BEST PROPERTIES NOW

Formed in 2015 as the holding company of Kingsland Malaysia and Kingsland Cambodia, Kingsland Global (ASX: KLO) specialises in commercial and hospitality property development across Asia.  Tracing its origins from Kingsland Development, which has over 37 years of experience in the property development scene in Singapore, Kingsland Global is excited to extend its property development expertise to more territories around the globe - none less than Cambodia. Entering a joint venture with a Cambodian partner, Kingsland Global is proud to announce its entry into the Cambodian property market. “We are extremely pleased to partner with Kingsland Global in this joint venture which we believe will lead to many dynamic projects now and into the future. Bringing their own brand of professionalism and strict adherence to safety standards, Kingsland Global’s values and culture – such as their daily toolbox meeting that kicks off every working day with a stringent safety check on site - will help to raise market standards across the board and greatly add value to the local community,” as said Mr. Pheap Horng, Chairman, CamTrip Investment Co. Ltd., Kingsland's Cambodian JV partner. Jeremiah Lee, Managing Director of Kingsland Global, stated that,“Kingsland Global is particularly excited by the possibilities and opportunities that the Cambodian property market opens to us. With its fast-growing economy and promising prospects, we are confident of harnessing the benefits of Cambodia’s favourable investment climate to deliver high quality commercial and hospitality development projects in the local property scene. We believe our commitment to quality and excellence will allow us to capitalise on the limitless potential the Cambodian property market offers, especially at this point of time when it is still entering its early stages of development.” Infusing value and lifestyle in all their projects, Kingsland Global has demonstrated its standard of excellence through quality projects across Asia. Kingsland Global is currently embarking on more exciting commercial projects that will allow the company to share their expertise and dedication to property development with all partners and clients. Ensuring trust and reliability remain the cornerstones of their corporate integrity, Kingsland Global strives to be Asia’s leading integrated property developer by bringing these values into the Cambodian market and every region that they expand their expertise to. Kingsland Global is proud to announce some upcoming projects in Phnom Penh. To be operated by the acclaimed hotel operator, Wangz Singapore, 228 Oknha Peich is a 13-storey boutique hotel located in Khan Daun Penh which houses many historical monuments. Slated to be completed in the 2nd quarter of 2017, this stylish hotel is equipped with multiple facilities and looks to provide tourists and business travelers with a luxurious home away from home. Another upcoming iconic development, One18 Residences is a luxurious 24-storey apartment providing quality living and hotel-like amenities right in the heart of Phnom Penh city. Look forward to a first-class residential experience like none other when the project is completed soon. For more info on Kingsland in Cambodia, please get in touch with Kingsland (KH) Development Co Ltd, #34, Street 200, Sangkat Boeung Raing, Khan Duan Penh, Phnom Penh, Cambodia (Tel) +855 77 3399 20, (Fax) +855 23 2217 07/08 or Kingsland Global Headquarters (Singapore); (Tel) +65 6362 8998, (Fax) +65 6363 7031; or email info@kingslandglobal.sg

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Cambodia remains a relatively untapped market for many, offering substantial upsides to foreign or local investors looking for green field investment opportunities. Hence, investors with foresight are increasingly identifying Cambodia as the next boom economy in the Southeast Asian property market. MCC International Corporation Ltd, a Chinese state-owned company which ranked 326th in the world’s largest companies in 2015, and 10th in the Engineering News Record’s Global Top 225 Contractors, recently set up a subsidiary in Cambodia, acting as chief and sole constructor, and strategic partner, for J & L Property Development and their latest project in Russey Keo: SkyTree Condominium.CLICK HERE TO INQUIRE TODAY Mr Chen Shaochun, President of MCC International Corporation Ltd, at a recent press conference in Phnom Penh, stated that “Cambodia is exhibiting the correct economic growth indicators, investment incentives and political stability to allow us to enter this market in a real estate related faculty. And these same qualities are appealing to many other Chinese and International property investors.” Mr Scott Wu, CEO of J & L Property Development concurs, mentioning that “our development company’s investment timing is perfect to enter the Cambodian market in 2016. The Government is stable; the economy is showing impressive but sustainable growth across the board; the nation's infrastructure and logistical networks are developing out of sight; and consumer tastes in the city are fast changing to high-end, convenience-driven, high-rise real estate. Those buyers who look to quality projects such as SkyTree Condominium now will realise their investment was extremely smart five years into the future when Cambodia truly comes of age.” For investors seeking stability, Cambodia is now able to meet international expectations. The current head of government — Prime Minister Hun Sen — has been in charge for more than 25 years; and, in fact, Hun Sen now represents the longest standing non-royal leader in Southeast Asia. CEO of Eastland Development, Sam Yang, said that, “Three things are clear to me: Firstly, the next great international economic boom will happen within the ASEAN countries. Secondly, out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Meanwhile, thirdly, in Cambodia investors can still trust in the US dollar – this is unique.” Rami Sharaf, Member of International Advisory Council, APCO Worldwide, and a well-known advocate for the Cambodian market, says that, “the major attraction for foreign investors considering whether they should invest in Cambodia is the ASEAN-member nation’s steady economic growth; phenomenally steady growth: 7.5 per cent average for the last 5 years, year on year. This puts Cambodia as the number 21 worldwide in growth, and number 1 in the region.” Due to its membership in ASEAN, Cambodia has access to the ASEAN Free Trade Area. The ASEAN countries have 625 million people and are a less mature macro-market, providing vastly more opportunity for growth. If ASEAN were a single country, it would have the seventh largest economy in the world, after the US, China, Japan, Germany, France and the United Kingdom.  Additionally, Cambodia has been designated one of the Least Developed Countries (LDC), which gives it preferential access to both the European and North American markets. Why invest in Cambodia? Learn more. Importantly also, Cambodia is midway between China and India. Very recently, India displaced China as the world’s fastest growing economy. Due to its location, Cambodia has excellent geographic access to both of these huge markets. The wealth of the future is practically guaranteed to be determined by who has access to the Chinese and Indian markets. In 2010, the China–ASEAN Free Trade Area (CAFTA) became a reality, giving member nations access to a trading block of 1.7 billion people. ASEAN also has an agreement with Australia and New Zealand that creates yet another free trade area in the other direction (AANZFTA). Additionally, talks are under way between India and ASEAN, which could create a similar trade block. Those seeking pure investment opportunities are offered a unique proposition in the rising market of Phnom Penh; which is exhibiting appreciation growth impossible in the developed markets that property investors have traditionally targeted. According to Knight Frank Cambodia’s Cambodia Real Estate Highlights 1H2015 Report, “land prices in Phnom Penh have increased by as much as 80 percent since 2010, with a forecast of a further 25 percent increase for 2015.” Yang also cites the “One Belt One Road” initiative, saying that plans for a regional Chinese railway in the coming years will only aid Chinese investment in Cambodian real estate. “Thus far,” continues Yang, “the Cambodian real estate market has only attracted relatively small investment pools, in comparison to international and mainland Chinese standards of major investments. Generally, new real estate investments in Cambodia are valued at around five to ten million dollars only. The larger real estate investment funds of 200 to 600 million dollars have not yet come to Cambodia – but they will soon.” With Singaporean architectural design, Sky Tree Condominium rises 32 storeys above Phnom Penh. Uniquely, 40% of the total complex is dedicated to exclusive public facilities such as rooftop gardens, helipad, medical clinic, sky bar, gym, spa, international brand shopping, ample car parking, business facilities, and much more. Furthermore, Sky Tree Condominiums unit size is well suited to a a family who needs extra space - you will have all the room you need to invite extended-family to stay with you in your new condo home. This makes it perfect for Khmer and expat families looking to move into a better standard of living within the inner-city. Don't miss out on your chance to improve your families' quality of life - with monthly payments starting from just $333 per month, and a minimum 10% deposit on signing. CLICK HERE TO INQUIRE TODAY

The chief of Siem Reap’s Province’s department of land management, urban planning, construction and cadaster, Mr Se Samut, has been replaced by Mr Hy Say, previously the deputy chief of the ministry.  Se Semut was moved from the Siem Reap Department of Land to a new position at the Ministry of Land Management. Spokesman of the Land Management Ministry, Chiem Sophal Makara, noted to media that the decision was, “made for the purpose of strengthening the institution.” Minister of Land Management, Mr Chea Sophara, also publically announced the replacement via his personal Facebook, supporting the decision and asking all officials to offer their support and respect to the new minister that is now accepting the role. Chea Sophara asked, “Please brothers and sisters in Siem Reap province, instruct and cooperate by regarding

Despite a troubled recent history, Cambodia has been growing consistently in terms of economic growth over the last 10 years. Today, in 2016, Cambodia is now among the front-runners of the emerging economies of Southeast Asia. By focusing on a new industrial policy of Cambodia, this growth may continue and bring broader benefits to the country. But how will the nation’s economy and industrial footprint diversify in skills and products to allow it to maintain this growth into the coming decade? And as importantly, how will Cambodia offer the lower economic sectors of society genuine opportunities to share the new wealth of the nation?It is said in the Asian Development Outlook for 2016, of the Asian Development Bank (ADB), that Cambodia’s GDP had increased by approximately 7 percent since the year 2013; and has been projected to maintain that rate through 2017.Along with data confirming the growth in the Kingdom’s GDP in its three-part discussion, the Asian Development Outlook 2016 also notes that “Cambodia’s large supply of inexpensive, low-skilled labor has attracted substantial foreign direct investment into the production of garments and footwear for export.”One of the main factors that paved the way for all of this economic growth to happen is through the country’s adaptation of the “Factory Asia” model of economic growth; which allows the deployment of inexpensive labor into the industrial sector so that investors can manufacture products to be used for export. Cambodia was able to obtain a competitive edge through this model and attracted regional manufacturing investors in droves. This was because the comparative price of labor gradually increased in other Asian countries, such as in China, while remained consistently low in Cambodia throughout the early 2000s.The majority of the working class in the country who were once in poverty had found relative success through these manufacturing jobs. This allowed multiple opportunities for them to increase their family’s monthly income and provide for their children’s well-being, such as through education and proper nutrition. A far cry from the suffering average Cambodian had once been through. Though it has been a long-fought struggle, Cambodia seems to be making progress in replicating the “Factory Asia” model and tailor-fitting it for their own culture and economy.As evidence of this, the Kingdom got the largest overall contribution to GDP from the industrial segment growth in 2015; which was 11.7 percent last year. This growth was largely because of a 14.1 percent increase in exporting merchandise; which came in during 2015 at roughly $8.5 billion. An increase of 10.2 percent was also observed in the shipment of footwear such as shoes and sandals, and garments which makes up 70 percent of Cambodia’s total exports.Although factories have helped in providing financial stability and sustainability, this sector has not represented a monopoly on Cambodia’s growth as the country entered the twentieth century. Another contributor to Cambodia’s GDP is the services industry. This industry showed a significant amount of growth; as it ballooned with a 7.1 percent increase last year. The communications sector, along with the transport and finance sectors, grew by around 8 percent. The tourism sector also saw an increase in tourist arrivals that made a 6.1 percent difference to GDP growth in the year 2015. Cambodia’s once predominant and primary sector, agriculture, is also predicted to observe growth by an increase of 1.6 percent next year.But the Asian Development Outlook 2016 warns that “while the economy shows signs of becoming more diversified within and across sectors, including garments and light manufacturing, and in export destinations, the base for growth remains narrow.” So, while Cambodia has shown much progress over the years, the nation is still in need of diversity in its economy as it becomes even more competitive with countries like Myanmar and Vietnam, frontrunners in manufacturing low-cost garments.To support this diversification process, the government offers a new industrial policy of Cambodia that aims to upgrade its industries from providing labor intensive, low-cost manufacturing to a more value-centered production system; so as to encourage the expansion of medium and small-sized entities or corporations by way of an industrial development policy that will enforce stronger regulations, better business dealings and modernization. With an inexpensive, young and fast-learning population, tech industries also seem to offer vast opportunities in the Kingdom. These industries also offer a superior quality of life, and potential for career development, than base-line industrial jobs. With this agenda taken into consideration, ADB says that the industry segment is projected to grow in the following year by around 9.5 per cent. While Cambodia has seen some triumphs in recent years, it still has many more battles to win. The world is watching while the next tiger of ASEAN grows up.

With the Cambodia economy growing more and more each year, eyes from the international community are being pulled towards the Cambodian real estate market - and for good reasons. One of these reasons is recent legislation that allow foreign-ownership of strata titled office space. But what exactly is a strata title?  Strata refers to apartments being on multiple or different levels of the same building complex. Therefore, the strata title is designed and specifically drafted for apartment blocks or buildings with multiple levels - and co-ownership rights within these buildings. This concept originated in New South Wales, Australia, but later gained popularity in Cambodia after the “Law on Foreign Ownership” was introduced back in May of 2010. This law paved the way for economic growth as it gave investors an ability to penetrate the local market and, likewise, diversify it. Up until a few years ago, there were difficulties doing that for non-Cambodian nationals. Since the legislation, the Phnom Penh skyline has grown beyond recognition as property developers have identified the opportunity to bring foreign investors into the Cambodian market via strata title. Before the advent of strata titles, property owners were now allowed to divide their buildings into multiple private properties which they could sell separately with freehold ownership rights (hard titles). But now, post 2010, foreign investors are free to own up to 70% of these properties as co-owners, provided that they only buy private spaces above the first floor. Slowly, these titles expanded beyond just residential buildings and begun to cater to the international demand for office space in Phnom Penh - which is fast becoming an ASEAN business hub. For investors foreseeing a potential oversupply of condo in the capital city, buying office space seems a less risky alternative given Cambodia’s exponential economic growth. As James Padden, Commercial Agency Manager of CBRE Cambodia, puts it when he spoke at the first annual Real Estate Market & Outlook Conference 2016 (REMOC2016), “If we look at the Phnom Penh market, I think it's important to consider the context of what causes demand for office space. So, essentially, it's driven by commerce, trade and economic growth. Without trade and business growth, there's no need for office space.” He continues to say that Phnom Penh is particularly strong in that regard. Padden offers that, “From 2010 to 2015, we saw imports grow from 6.7 billion dollars to 11.5 billion - which is a 70 percent increase. Meanwhile, exports grew from 6 to 8 billion dollars which is a 33 percent increase.” Padden also mentioned that in terms of GDP, there was an increase by 7 percent each year and the GDP per capita appreciated from $879 in 2011 to $1,325 in 2016, an incredible 50% increase in a span of only five years. As proof of a growing economy and a successful real estate industry, there are now a total of 689 condominium units announced during the fourth quarter of 2015 alone. This brings in the number of off-plan condominiums launched over the course of 2015 to a total of 7,014. Yet - on top of this - as of 2015, there are also now 5 strata-title office developments in Phnom Penh up for sale to local and international commercial property investors. As the trend grows and furthers into its development, strata-titled office spaces will account for about 25% of total office stock by 2020 - according to CBRE’s research. A key benefit of the increase in strata titled office space and residential real estate in Cambodia is the practicality of the new legislation and the amount of time it will save for buyers and sellers transferring the actual titles to new owners upon the completion of new development projects. The process is relatively simple and, at the completion of this process, end buyers have full freehold property ownership rights over that space. Strata titled office space will also allow business entities to conveniently own the properties that are part of their business expansion infrastructure in the Kingdom, which offers superior control and legal protection for their business’ assets here. It is legislation like this that offers international firms the confidence they need to take their first steps into the Khmer market. As more and more strata-titled properties enter the Cambodian real estate market, both strata titled office space and residential units, international investors can see a smooth, safe and cost efficient  vehicle available to venture and expand into Cambodian territory.

Realestate.com.kh is proud to be announced as Official Media Partner for the 2016 South East Asia Property Awards. Returning for a successful sixth year, the South East Asia Property Awards 2016 is the biggest, most prestigious and most recognised industry awards in the entire region.  Organised by PropertyGuru, Asia’s leading online property portal group, the programme serves as the grand finale for the ASEAN strand of the 11-year-old Asia Property Awards series, with the top and emerging names in real estate gathering on 23-24 November at the prestigious Shangri-La Hotel Singapore. Last year’s biggest winners included Far East Organization and UOL Group from Singapore, and Front Concept group from Malaysia, while UOL’s deputy group CEO Liam Wee Sin was awarded the coveted Singapore’s Real Estate Personality of the Year accolade. The event is also a tremendous networking opportunity for real estate professionals who would like to meet the industry leaders who are redefining the property landscape. Don’t miss this! As stated by Director of Realestate.com.kh, Mr Tom O'Sullivan, about the media partnership: "In early 2016, Realestate.com.kh created a strategic relationship with the PropertyGuru Group that allows Realestate.com.kh and our clients to leverage off the powerful network of property portals, events and related media in the ASEAN region; including PG Singapore, PG Malaysia, DD Thailand and Indonesia. The South East Asia Property Awards brings together leaders from across the region, including those from our market: the extremely fast-developing Cambodia. Partnering with the SEA Property Awards allows Realestate.com.kh and our clients to bring Cambodian property to the world stage, and of course to network and learn from the region's industry leaders."WANT TO FIND OUT MORE?

China’s wealthy are increasingly showing a big appetite for investing in real estate out of their home country, and while traditional international markets such as Australia and the US remain popular, Cambodia is beginning to attract the attention of China’s elite.More than 65 per cent of China’s high-net-worth individuals spent upwards of $462,000 on overseas property and real estate investments in 2015, according to that year’s Knight Frank Wealth Report.China’s hunger for owning international property has gathered pace within the last few years. According to Knight Frank, Chinese outbound real estate investment totalled $5 billion in 2010, increasing to $52 billion in 2014. By 2020, the firm predicts this figure will reach $220 billion.The reasons for this international real estate investment seem relatively simple.According to juwai.com, China’s online international property portal which introduces mainland Chinese buyers to international real estate opportunities; a mixture of investment opportunities, emigration, education and, to a lesser extent, lifestyle are the main reasons for China’s obsession with owning overseas property.Speaking at Juwai’s Global Developer Summit in Beijing in April, company chief executive Charles Pittar said the ability to own freehold property remained an attractive proposition for Chinese investors.“The value of international property is increasingly preferred over domestic property, as appreciation rates plateau in most major Chinese cities,” he said.“There is a perception among Chinese investors that overseas property investment is more stable than the Chinese market.”With Chinese outward tourism remaining the largest and fastest-growing tourism market in the world, travel continues to open China’s eyes to real estate investment outside their borders.“By 2020, it is predicted that 234 million outbound Chinese travellers will splurge $422 billion abroad,” Pittar said.As tourism flows, business connections and incentives for Chinese investors could flow through to Cambodia.While Cambodia may not yet be a popular emigration or education destination for most wealthy Chinese, those seeking pure investment opportunities are offered a unique proposition in the rising market of Phnom Penh – which is exhibiting appreciation growth impossible in the developed markets that Chinese investors have traditionally targeted.Chinese state-owned MCC International Incorporation recently set up a subsidiary in Cambodia.Chen Shaochun, president of MCC International Incorporation, spoke of Cambodia’s appeal to Chinese investors at a recent press conference in Phnom Penh.“Cambodia is exhibiting the correct economic growth indicators, investment incentives and political stability to allow us to enter this market in a real estate-related faculty,” he said.“And these same qualities are appealing to many other Chinese property investors.”CEO of Eastland Development, Sam Yang, said Chinese investors could rely on the US dollar in Cambodia, making it an attractive destination to invest capital.Yang also cited China’s “One Belt One Road” initiative – wherein Cambodia is a part of China’s elaborate plan of land and sea connections to the rest of Asia, Africa, and Europe – saying that plans for the Chinese railway in coming years would only aid Chinese investment in Cambodian real estate.Interested in learning more about Chinese investment? Check out our article: Chinese investors dominate the real estate market in SihanoukvilleLooking for real estate for rent in Cambodia or real estate for sale in Cambodia?

HLH GROUP EXPANDS AGRICULTURAL FOOTPRINT IN CAMBODIA BY UPGRADING ITS EXISTING 10,000-HECTARE FARM INTO A FULL-SCALE AGRICULTURE PARK: Camfarm.SGX Mainboard Listed HLH Group, had successfully upgraded its existing 10,000-hectare farm in Aoral District, Kampong Speu Province in Cambodia to become a full-scale Agriculture Park, which covers the cultivation and processing of cassava (Tapioca) into cassava chips or cassava starch. It will also have an area to attract international investors with interest in husbandry and livestock assets to set up farms in the new park. The new cassava starch production factory at the site was completed last week. Known as Camfarm.FIND OUT MORE - contact HLH Group now!Meanwhile, the company’s first starch production line which was completed in the first week of April 2016 will produce 120 tons of cassava starch daily starting from this week. Production levels are expected to increase to an estimated 150 tons per day and will hit about 35,000 tons of cassava starch annually by the end of this year. Most of these cassava starch will be exported. The current market value of cassava starch is around USD360/ton.“With the new 10,000-hectare agriculture park in place, we can scale up our production significantly through the supply of cassava products. We are also looking forward to attract and partner with global investors with a robust appetite in the agricultural sector. With the right infrastructure such as the well-equipped deep-water sea port of Sihanoukville for exports, agricultural equipment and production facilities, we can enhance the yield of our plantations as well as raise both production quantity and quality,” said Dato Dr Johnny Ong, HLH Group’s Deputy Chairman and CEO.“HLH Agriculture (Cambodia) Co. Ltd is also planning to initiate programmes for contract farming and provincial collection center to raise the competitiveness of Cambodian farmers and at the same time provide new employment opportunities in the country by enabling more Cambodians to become self-employed in the fast-growing agriculture industry,” he added. By end of this year, the Agriculture Division expects to export 50,000 tons of both cassava starch and cassava chips. The ultimate target is to export 1 million tons of both products in the near future.Meanwhile, the company has also unveiled a new plan for an integrated Agriculture Food Processing Park to be named CAMFARM on a 400-hectare plot of farm land acquired in 2008. It is expected to be completed in year 2017. The company will be actively sourcing for strategic international investors in food processing industry to set up their assets in this park. THE FIRST AND ONLY AGRICULTURE PROCESSING HUB IN CAMBODIA, BROUGHT TO YOU BY HLH GROUP. We are offering to any investors an opportunity to join us and explore this project of 400-hectare plot of farm land.FIND OUT MORE - contact HLH Group now!AGRICULTURE PROCESSING HUB WITH THE SINGARPOREAN STANDARD:Can fruit processing factory. Can food processing factory.Dried fruit processing factory.Vegetable processing factory.Bio-gas Industry.Water treatment plant.Rice industry.Restaurant, food outlet & Entertainment places…etc.Animal farm, such as: Pig farm, Cow farm, Goat farm, Chicken farm, duck farm..etc.Manufacture of food processing industry.Fruit planting, such as: Banana, Mango, Coconut, Grass for cow feed, Sesame, Maringa plant, Vegetable etc.Bee Keeping.Fish Farming. Fruits and Vegetables Export.Fruit juice-Jam-Jelly Production.Groundnut Processing.Cashew-nut Processing.Potato Chips Production.Agro-Farming Blogging.Hotel (Farm Resort stay).Shop house.New expressway.Bank etc…Going forward, HLH plans to add another two production lines in 2017 which will raise its daily starch production capacity to 600 tons. The cost of the new production facilities is estimated at USD10 million and will be funded by financial institutions and potential joint investors.FIND OUT MORE - contact HLH Group now!

Cambodia’s most outstanding mixed-use development is soon to overlook the Mekong River with three 55-storey buildings, set for completion in 2020. The two towers of The Peak will be reserved for residential uses, while the third commercial tower will be the home of 20-storeys of the world-renown Shangri-La hotel, with 35-storeys of Grade A office space below it.With the upcoming ASEAN Economic Community, increasingly international corporations are entering the Cambodian market, and high grade office space and luxury residential units are rising in demand every month. Over 50% of registered companies in the Kingdom are majority foreign owned, and this trend is set to continue as Cambodia rises as an interconnected manufacturing, resource, agriculture and logistics hub for regional firms looking to expand, outsource or diversify. With an additional 5-storeys of prime retail space, The Peak also caters to Cambodia’s rising middle class, who are proving to have a taste for shopping and international brands.The developer is the renowned Oxley-WorldBridge Cambodia, a joint venture between Singaporean-based Oxley Holdings and WorldBridge Land Cambodia, which first launched in Cambodia in 2013. Oxley-Worldbridge’s The Peak is the second major residential development undertaken by the conglomerate.The Bridge, the joint venture’s first Phnom Penh project, marked a turning point for the entire Cambodian’s property sphere. With the release of The Bridge, the world took notice of the Cambodian market, the huge project bringing a new standard of construction and architectural flare to the capital.The Bridge, coming online in 2018, has now sold 96% of the projects 762 apartment units and 71% of 963 SoHo units. The Peak is perfectly located minutes walk from Phnom Penh’s largest AEON Mall, Nagaworld 1 & upcoming Nagaworld 2, and just 2 minutes drive to Business Convention Centres on Diamond Island. And of course, the 5-Star Shangri-La Hotel will be right next door.Don’t miss your chance to own a slice of Cambodian history; get in touch with The Peak’s friendly team today!

Many westerners who move to Phnom Penh for work, long-term holidays or retirement often arrive with expectations that don’t add up to reality of the 2016 Cambodian real estate market situation.For example, many have dreams of living in an opulent french-style villa at a rental or sale price that is just a fraction of what they might expect for a similar property in their home market.READ OUR ULTIMATE EXPATS GUIDE TO CAMBODIA Others think that their money will go a long way in Cambodia in terms of budget rentals, even in the big city’s hottest corridors. However, Phnom Penh, and in particular the expat-friendly suburbs, is a beast that is changing beyond the recognition of expats that settled here for work, pleasure or retirement 5-10 years ago. Some commonly-held expectations are becoming unrealistic in the 2016 Cambodian real estate market, and especially in Phnom Penh. In fact, the city is no longer full of the inexpensive, charming villas that many expats blithely assume will be readily available. So too is it beginning to see a shortage of affordable options for renters in central locations, as demand rises and landlord understand the underlying value of their locales. Desmond Yap, general manager of Yong Yap Properties in Phnom Penh, notes that this is only a natural result of supply and demand trends in the capital. “As wealthy property developers continue to find prime land for their developments in the central city districts, villas are getting snapped up due to the size of their surrounding land. The villas are then knocked down and the land is developed in a condo complex, hotel or commercial venture. Over time, this has limited the supply of villas and therefore prices have increased dramatically,” says Yap. The reality is that Phnom Penh has grown dramatically in the past ten years. Like any high growth city, this has caused two things to happen: 1) Housing prices have gone up dramatically and 2) no matter how much gets built, it is rapidly filled by buyers and renters, leaving a scarcity of supply for the most desirable kinds of developments. Yap also notes that as the standard of living rises in Phnom Penh, the cost of living also increases: “You can give example of how workers salary in Phnom Penh is rising – it’s a lot tougher now to find a waiter working for $100/month compared to 5 years ago.” Many expats coming to Cambodia are misinformed as to the true affordability of property, suggests Yap. Yap gives the example of The Lonely Planet guide. This highly popular travelers resource says that expats can get small flats for around $200 with internet and wifi in central Phnom Penh, “yet they need to take this into context; are they referring to inner city Phnom Penh? How long ago did they write it? etc. We actually have had people that come into the Yong Yap office quoting lonely planet and how we should be able to find them a western place for $200 inclusive of x,y,z… If they expect western qualities in their new apartment, this proves a very hard ask!” More realistically, western style luxury apartments with all the amenities, and also serviced apartments — such as a pool, gym and security — can be had for $500-$3000 per month. Check out properties available NOW! Alternately, more authentically Cambodian digs can be rented for around $300 per month. As the city has grown, the city has done what so many cities do: Converted housing on busy streets to businesses and demolished low density housing to replace it with high-rise apartments or commercial skyscrapers. When high-rise buildings go up, the villas next door to them are negatively impacted by the noise and dust of construction. They often never really recover. For the villas that remain, the demand is not only from residential property seekers but also F&B operators. This means home buyers and renters are having to compete with commercial enterprises who place a high value on the architecture, parking space and also the prime locations. The reality is that, at this point, there is a fairly small pool of highly desirable, Western-style homes in good locations. And unsurprisingly, these homes are rarely up for grabs. Either the owner knows they have a sweet deal and is not going anywhere any time soon, or these prime locations get sold to people who have connections of some sort, such friends of the family or coworkers. There are a lucky few expats who do enjoy this situation because they locked low rental prices some time ago with a 5-10 year lease. But for new signees, prices remain consistently high. For those new comers looking for a villa for rent in BKK1 - you might be on a waiting list... Some areas popular with expats include BKK1, Tonle Bassac and Southern Daun Penh. They do have a limited supply of villas, but not as many as they once had. Toul Kork remains a relatively good choice for an expat seeking a villa, however. But this may mean a longer commute for workers. Tuol Kork is a neighborhood about 30 minutes out of the center of the city that is increasingly attracting ex-pats. As with other large cities, commuting to a suburb outside the densely developed downtown area is a good way to find places renting for much less money. Learn more about expat rentals in Phnom Penh! Additionally, it is important to keep in mind that Cambodia is not a Western country. Although the West has had a substantial influence upon the architecture of developed cities the world over, like any Eastern country, Cambodia has its own history and culture, including its own architectural tastes. Even for homes that are built in a largely Western style, it is common for some details to just seem odd to the Western eye. The colors may seem not quite right. They may seem bolder than you expected. The trim may also seem in some way unusual. The finishing quality too may differ from western expectations. Yap notes that “western products/services generally will cost more as many products need to be imported. Quality window frames, light fittings etc. all need to be imported, and this naturally raises expected costs for renters and buyers.” Therefore, advice for those moving to Phnom Penh is that you will be well served by arriving with more realistic expectations concerning the style, price and availability of housing in the city where you plan to live out your expat experience. You may need to go with an apartment instead of a villa. You may need to have a longer commute. You may need to adjust your tastes. But after all, the ability to adapt is a key part of the expat experience, in any country, and can come with unexpected pleasures... READ OUR ULTIMATE EXPATS GUIDE TO CAMBODIA

A recent news release from the Cambodian Ministry of Tourism has announced that the Cambodian Government is currently preparing to issue three-year multiple visas, exclusively to Chinese and Korean tourists. Last year, 700,000 Chinese and 400,000 Korean tourists visited Cambodia last year, putting them in the top 10 foreign visitors. The initiative seeks to bolster the tourism sector, according to the report, one of Cambodia's keys to continued economic growth. Such a flexible and long term multiple issue Cambodia visa should encourage repeat travel and bring more tourists from China and Korea to Cambodia. But it may also bolster Chinese and Korean investment in the Cambodian real estate market... Travel is also opening Chinese eyes to real estate investment opportunities outside their borders; and Chinese outward tourism is the largest and fastest-growing tourism market in the world. Despite only 4 percent of Chinese nationals holding a passport, that 4 percent spend $200 billion overseas yearly. In 10 years, 12 percent of China’s population will hold passports, suggests China’s National Tourism Administration. “By 2020, it is predicted that 234 million outbound Chinese travellers will splurge $422 billion abroad,” says Charles Pitar, CEO of Juwai.com, China's leading international property portal website which introduces mainland Chinese buyers to international real estate investment opportunities. Stay tunes to Realestate.com.kh NEWS for more on this as it unfolds...

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) was held this April at the Phnom Penh Hotel, with a host of the local and regional real estate industry leaders giving their outlooks on the state of the Cambodian real estate market.Realestate.com.kh caught up with Hoem Seiha, Director of Research, VTrust Appraisal Co., Ltd at REMOC2016 to get his 2 cents on the state of the current and future Cambodian property market prospects and, ultimately, Cambodian Property Market: The Big Picture!What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? At REMOC-2016 to be held on 1 April, I’m going to present to the audience about the macro perspectives on real estate industry: Cambodian Property Market: The Big Picture. Developers, policy makers and related key stakeholders need sound knowledge and in-depth insights into real estate sector at macro level so that they can together work to develop and, if any, curb with challenges in the sector. Construction and real estate sector has recently grown its importance to overall economy by contributing to creation of tens of thousands of jobs, pushing demand on mortgages to rise by 19 percent in 2014, and attracting US$ billions of real estate related FDIs that have spillover impacts on many other economic sectors. With my future outlook for this sector, even though real estate market has grown so quickly that it might pose potential risks and growth volatility, I foresee this sector will soon create a new economic engine alongside with the country’s key leading sectors such as garment, tourism and agriculture.