If you are considering buying a house for sale in Phnom Penh you may think that the only things you need to think about are the price, the quality, and the location. Yet there are several other things you should familiarize yourself with before you select your new home in Phnom Penh.Realestate.com.kh is here to help - with a step by step guide to choosing the right house for sale in Phnom Penh:What are the types of houses for sale in Phnom Penh?There are a few kinds properties you need to define first before actually deciding on what type to get. In Cambodia, these are generally Shophouses, Villas, Borey Homes and Condominiums.Each type of house is a bit different in terms of physical specs, supply in the market and the kind of ownership available. Depending on the size of your family, your budget and your commute to work - each of these types of properties offer various pros and cons. Also, in regards to home ownership, depending if you're a Cambodian citizen or not, some of these properties may not be available for you to purchase.What are Shophouses?Shophouses, aka townhouses, flats houses, or link houses, are townhouses that are typically characterized by its standard setup, and by facing a main street or road. It has a shop front at the ground floor facing the street and residential areas in the back section of the ground floor, and above the ground floor. Hence the term “shophouse”.The shophouse units are generally 4 x 16 meters squared in size, and generally 2 or 3 floors high. Shophouses sit together in a row of houses generally.Shophouses located in popular urban areas offer a bonus for families - as the front of the home is easily converted into a restaurant, mart or other small retail venture. Yet, the rest of the home can still be used for the family’s living. Having said this, you don’t need to have a shop just because you have brought a shophouse.Generally, shop houses will not have front yard or garden, and likely only a small outdoor space behind the home. They won’t generally have a stand alone fence for security - but they will usually have a very secure front entrance and back entrance, and a protective screen. Car parking is often difficult with a basic shophouse, however many shophouse owners park their motorbikes inside the bottom floor room for security at night.  There are different types of shophouses. The Khmer-style shophouses have a more traditional design and more basic interior fit outs. While modern or western shophouses have incorporated a more current design and interior decoration and amenities that expats deem as necessities - such as western style toilets, baths, ovens, air con etc. It’s hard to spot the difference externally because some western shophouses only renovated on the inside.The maintenance and upkeep of shophouses are pretty straightforward and low since the property is sectioned into smaller areas. It’s also pretty accessible since shophouses tend to be where the foot traffic is. That being said, it can also get noisy as a result of that.Are shophouses susceptible to floods?Because you are on the ground floor, be careful of buying a shophouse in a flooding area. Check with the past owner and neighbours whether or not your new home is prone to flooding. If it is, you had better be prepared when the rains come. If you are buying in a flooding area, this should reduce the price.Can foreigners own shophouses?Not really. Foreigners can only technically own a shophouse through a nominee structure where foreign investors enter into a trust agreement with the owner. The land or property is then held for mortgage. The property’s then leased to the foreigner.  You would need a mortgage agreement, a lease agreement, a loan agreement, and a security agreement. But use this structure at your own risk. This is still a violation against the constitution of the land law in Cambodia. A 3 story shophouse will not have a strata title available for its 2nd and 3rd floor units as it is likely built before this law was implemented (2010) and the owners are unlikely to have filed for strata title creation - therefore, foreigners could not buy is as they could a new condo unit.Learn more about buying a shophouse via nominee structuring. Learn more about different land titles in Cambodia.If I'm a Cambodian, should I buy a shophouse in Phnom Penh with a hard or soft title?For Cambodian citizens who want to buy a shophouse, it's worth noting that many shophouses are sold with a soft title. While soft titles are cheap and fast to obtain, they present risks that may affect ownership rights in the future since soft titles are not recognized on a national level. It's advised that Cambodian citizens secure a hard title for their new shophouse home. This will incur more cost (4% of the properties value, and some bureaucratic fees), but the protection is highly valuable.Note that if the seller can’t offer hard title ownership, or seems reluctant to, there are probably some issues with the title. Due diligence is in order on the buyer's part to find out more about the title and the true ownership of the property before handing over any money.Land Management and Administration Project (LMAP) titles can also be utilized. This is considered to be the safest kind of land title because it utilizes GPS coordinates to allocate land plots for the shophouses. This accurately defines the boundaries of a purchased plot of land. It has no significant difference from hard titles except for the fact that it comes with more detailed information. And the best part is, if you can obtain this type of title, you will be safe from any claims to parts of your property into the future - because you have confirmation of the exact boundaries of your property ownership.Interested in buying a shophouse in Phnom Penh? Check out shophouses for sale in Phnom Penh now!What are Villas?Villas are houses standing within its own grounds. Villas in Cambodia don't stray too far from this definition as Khmer villas are also detached from other houses and include a yard of its own. Interested buyers might also encounter a further play on these words and hear twin villa and mini villa. These simply mean that the townhouse is semi-detached or smaller, respectively.Khmer villas have yards typically featuring gardens and even trees. The benefit of having a yard space is giving families, especially children and pets, the space is safely play within the security of their property. Villa owners can also use their yards to conveniently park their cars and motorbikes on their property and away from the risks of the busy street. Villas are ideal for buyers/families looking for a quieter, safer, and more private living environment. Some villas in Cambodia even come with swimming pools - a perfect getaway from the hot Cambodian summer right at their backyard!Another upside to owning a villa is that even the smallest villa has plenty of space. There is also a wide array of designs to choose from. These can range anywhere from traditional Khmer, opulent french-inspired styles, to modern refits. Because villas are primarily suited for families/large groups of people, buying villas in more populated (or near commercial) areas present a potential for rental opportunities from family tenants, or a group of shared renters.Are villas susceptible to floods?That depends on where you buy your villa. Be sure to check with the previous owner/seller/neighbors whether or not the area is susceptible to floods during Cambodia's rainy season. It might be wise to prepare for when the downpour arrives if the villa is indeed prone to flooding. However, buyers can use this information to get the villa at a more bargain price.Can foreigners buy villas in Phnom Penh?The simple answer is no. But foreigners may opt to use a nominee structure, similar to a shophouse. But again, doing so will still be a violation against the constitution of the land law in Cambodia. The land law runs across all landed property types and offers no exception.Learn more about buying a villa via nominee structuring. Learn more about different land titles in Cambodia.If I'm Cambodian, should I buy a villa with a hard or soft title?A soft title should be okay if you’re absolutely sure there won’t be any disputes with the villa ownership. But hard titles are the strongest type of proof of ownership. It’s an ownership certificate that’s given by the Land Management and Planning Office (LMAP). It details the information recognized by the cadastral office and the Ministry of Land at a national level. A transfer tax of 4% is usually paid when the property is sold. LMAP titles can also be used to determine exact GPS coordinates of the land plots should anyone dispute the property boundaries/ownership.Check out villas for sale in Phnom Penh now!What are Boreys?Borey is characterized by a group of low-rise residential properties located in a gated community. These includes villas, flats, townhouses, shophouses, and even the occasional condominiums. Borey developments have a variety of properties that cater to both individuals and families. It typically has its own infrastructure and services which includes roads, water, electricity, and waste management. But the biggest selling points of a Borey is its huge space and security. It also generally has a more quiet scene because of of its exclusivity.Boreys are a good option since it has immediate access to all the right infrastructure, such as water, electricity and nearby major roads. Borey communities are secure and feature common areas for families to enjoy. The downside is added costs compared to stand alone properties; there may also be a waiting period before you can move into your new home.Can I buy a Borey home if I’m not a Cambodian citizen?Foreigner nationals are not allowed to buy homes in Boreys because these are predominantly landed properties. Article 8 of the Land Law states that “a foreigner who falsifies national identity to become an owner of land in Cambodia shall be punished as determined under article 251 of this law. Any property bought under these circumstances will be seized as State property without compensation from the State.” Yet, some boreys do have condominium units available with strata titles fully applicable to foreign buyers. Also, foreign buyers could consider buying a borey home that is landed via a Cambodian nominee.Learn more about buying a borey home via nominee structuring. Learn more about different land titles in Cambodia.I’m Cambodian, can I buy a house inside a Borey?Cambodian citizens will be able to purchase landed properties in Borey developments with no issues -- provided they satisfy the legal and financial obligations.What documents should I look for when choosing a new house in a Borey development?Many developments will pass themselves off as Boreys. But these fake projects don’t have the necessary approvals and documentation. They simply call themselves a “Borey” in their marketing drive. Buyers need to check for five (5) important documents to ensure the quality and credibility of the Borey development.These 5 crucial documents are the hard title, company registration, approved master plan, construction license, and Borey License.Hard Title: You have to look at two classifications of hard titles when dealing with Boreys.The first is the hard title for the whole borey development. This is called a master title - and will cover the entire piece of land on which the project sits. The second one should be hard titles that are subdivided for each residential unit included in the borey. These are called individual titles. A legitimate Borey development should be able to produce both of these hard titles to potential buyers. If they can’t show this, don’t put any money down until they do.Development Company Registration: Development companies will need to register themselves to gain approval from the necessary ministries to proceed with construction. However, construction is not always a sign that they’ve been approved. You can ask to see their company registration just to make sure both the project and the developers can proceed legally.Master Plan Approval: The Ministry of Land Management will need to approve the developer’s Master Plan first by the Ministry of Land Management before construction begins. A credible developer will be able to provide you with it or at least show you a copy.Construction License: The construction company then goes through a thorough background check with the Ministry of Land Management. Boreys must have a single registered construction company building the units and infrastructure to ensure consistency and quality throughout the development. Once this has been cleared, the construction company is then given a license.Borey License: The Ministry of Economics and Finance releases the license for the Borey once everything is in order. This means that the developer has satisfied the requirements of the Government in terms of quality, design, sales plans, and documentation.Learn more about buying the right borey home in the ultimate Borey Buyer’s Guide, on Realestate.com.kh.Should I buy in a Borey project with a hard title or a soft title?You have to look at the main hard title first when looking at Borey developments because it’s a large-scale project. Ms. Lay Solida, Lawyer at CBL Law Group, said that:“Borey projects should be legal and recognized by related ministries. The most important thing is that the Borey project has the main hard title.”We still advise Borey buyers to have an individual hard title for their section of the project. An individual hard title for the borey project can be obtained through the appropriate ministries at 4% of the property's price. Once this is obtained, Borey property owners can sleep well that their ownership is secured.Check out Borey homes for sale in Phnom Penh now!What are condos?Condominium units exist within a tower building with many residents. Individual unit owners share ownership of the common areas in a condominium, like recreation rooms, playgrounds, gardens, and courtyards. All are welcome to use the common areas, but the individual condo units remain the private ownership of the residents. Condominiums usually have staff on-site to help manage and assist in the needs of unit owners. They also have security and shared parking areas.Condominiums can be great starter homes. It has a manageable space, with management-run amenities and services. This means low effort and time for upkeep by owners. Generally they are located in the inner city, so they also offer convenience and low travel times for inner city workers. They will generally have a nice view above the city, with fresh air and cooler temperatures. A unit in a condominium is also more private than a stand alone home and will have added security services. Condo units in Phnom Penh are normally quite modern in design and contain western style fixtures and interior layouts. Maintenance fees will however be charged to all residents to manage the common areas. There may also be restrictions in terms of remodelling the unit.  Can foreigners buy a condominium in Cambodia?Foreigners can buy condominium units and gain ownership with a strata title. But they are usually only able to buy in newer condominium developments because developments older than 2010 do not have strata titles yet. They can own up to 70% of the total units in the building. The remaining 30% should be owned by a Cambodian Citizen. The 70% ownership excludes any ownership on units on the ground floor.What is a Strata Title?A law was created back on the 24th of May in 2010 regarding foreign ownership of real properties. This began the issuance of Strata titles. Strata titling basically allows private ownership in co-owned buildings. The conditions are that foreigners are only allowed to own up to 70% of the building, excluding the ground floor. So, this cannot be used to buy a landed house for sale in Phnom Penh. But it’s helpful to know that citizens can benefit from it if they choose to develop a strata-titled property. Strata titles are recognised at the Ministry of Land Management, Urban Planning and Construction - and are as safe as any other hard title in Cambodia.How do I obtain a strata title for a condo in Phnom Penh?Creating a strata title involves the developer’s acquisition of land and obtaining a hard title for it. It is important to note that private unit ownership cannot be directly transferred by way of the original master plan. This can only be done by transferring the collection of the split titles under the ownership and name of the developer.The next step is for the Ministry of Land Management, Urban Planning, and Construction to check the created regulations and practices regarding the insurance and management of the property. Once this is set and approved, a strata title will be released by the department to the developer. This is when the individual titles can already be distributed.The transfer will call for the presentation of personal identification and marital status of the buyer to the Ministry of Land Management, Urban Planning, and Construction. These documents must be in Khmer. The buyer will also need to have their name translated into Khmer because the strata title will be in that language. Buyers can opt to use the services of professional translators and legal assistance to inspect the contract.The title transfer costs 4% of the value of the condo unit. There’s also a public service fee for the issuance of each individual strata title under the buyer’s name.Check out Condos for sale in Phnom Penh now!What information do I need before buying a House for Sale in Phnom Penh?Conducting a title search before you purchase property is always ideal. This will reveal whether there are legal disputes or discrepancies with the land. The next thing you can do is to gather information about the property through a Commune council official.How can I secure myself from frauds or fake companies?The buyer should ask for a copy of the ID of the company’s representative if the seller is a company. A notarized copy of the Ministry of Commerce-issued certificate, power of attorney, and a signed resolution by the board of directors that authorizes the representative to deal with the land office is also needed.What happens when a buyer and seller make a deal?An initial 10% deposit is usually made first. The purchase must then be submitted to the Ministry of Land Management, Urban Planning, and Construction’s district office. This is otherwise known as the Cadastral Office. Both buyer and seller have to make an appearance at the Cadastral Office for the signing and preparation of the required documents.The seller then has to show the original title certificate to the Khan during the deed signing in order to amend it with the new owner’s name.  A down payment of 10% payment is given by the seller after this. The total processing time can range anywhere from 20 to 30 days.What are my tax responsibilities?A 4% Transfer Tax is required by the General Department of Taxation. This process usually takes around 1 day. A transfer tax is only required it there is a hard title in place. Both the buyer and seller must return to the Cadastral Office with the transfer tax receipt. They will need to sign a buying and selling form in front of a local authority. The whole process usually takes around 5 days.A soft title does not incur this tax - however, by dodging this cost you may cause yourself more issues in the future.The certificate of title under the new owner’s name will be released by Municipal Land Office once the Cadastral Office sends all the necessary documents and once 80% of the payment is made by the buyer. The processing time for this step takes around 5 to 21 days.Be aware of scammers!It's important to be aware there are some common real estate scams in Cambodia. Be aware of these when you are searching for a house for sale in Phnom Penh! If anything seems suspicious, seek the advice of an independent real estate agent or lawyer with property law experience.Should I work with a Realtor/Real estate agent when buying a house for sale in Phnom Penh?Cambodia has seen the stabilization of the real estate sector as more security measures are enforced. And this is an important aspect in investment. But since Cambodia is growing rapidly, its policies and enforcement also evolves in a quick succession. This is why working with a realtor is helpful because they are familiar with the ins and outs of the industry. They can offer sound advice and can help you ease your worries on your housing security. They can also give you a good comparison of prices and types of houses to choose from. They also have connections to mortgage professionals who can assist you.Having said that, agents in Cambodia are not all equal - you need to choose the right real estate agent!We hope this information helped! Now it’s time to search for your dream house for sale in Phnom Penh right here on Realestate.com.kh!

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to pay the water bill using the money services of Wing.What are the various ways to pay for a water bill?Well, you have a few options to choose from. You can pay directly through the water supply office or you can pay via the bank or Wing.Can you tell me the process of paying the water bill through Wing?It is important to check whether or not the payment date is still valid. If it’s already expired, the bank or Wing will not accept your payment anymore.In case your payment date is expired, you need to go directly to the office and pay for the bill there. How about the fees associated with using the services of Wing?If your bill is lower than $25, you will be charged $0.25. If you need to pay a bill that’s higher than $25, you will be charged $0.50.When is the water supply cut off?There are two cases why the water is cut off. The first scenario is when there’s damage to the water system such as when a pipe is broken. The second scenario is when you don’t pay the bill. In case the pipe is broken, it will be fixed as soon as possible. If you don’t pay the bill, you are advised to  pay your bill at water supply office.Are there penalties for late payment?You will be fined around $15 on top of the amount that you owe. Then one or two days later, you can use the water again.Find out more about Young Yap property on Realestate.com.kh

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to pay the electricity bill using the money services of Wing.What are the various ways to pay for a electricity bill?Well, you have a few options to choose from. You can pay directly through the electricity supply office or you can pay via the bank or Wing.How about the fees associated with using the services of Wing? If your bill is lower than $25, you will be charged $0.25. If you need to pay a bill that’s higher than $25, you will be charged $0.50.Why does the price per kilowatt fluctuate and vary?This happens because our country buys electricity from neighboring countries. So, the authorities follow a standard principle for electricity usage. The lower the kilowatt of electricity used, the lower the price per kilowatt is. The higher the kilowatt of electricity used, the higher the price per kilowatt is.Find out more about Young Yap property on Realestate.com.kh

Probably one of the most dynamic sectors in Cambodia, real estate markets like condominiums can go from huge potential to huge concern in a matter of months. Grant Fitzgerald – Country Manager for Independent Property Services Cambodia – in his interview with Realestate.com.kh, weighs in on the issues surrounding Cambodian real estate.Is There a Looming Oversupply in The Condominium Market in Cambodia?Fitzgerald concurs that the figures released by the media represent a close comparison to projections by market studies. Around 37,000 units will be released in the market by 2020.He mentions that “oversupply of condominiums is definitely a concern, one that has been talked about more and more.” But he also states that in any case, with a good amount of research there is a potential for great return for foreign investors. He explains that much like their company does, developers should focus on rentable units.  Fitzgerald says, “If we cannot rent it, we cannot recommend it.”Fitzgerald qualifies that rentability really comes down to location, design, quality, and a number of other factors. He warns that those that are in the outer areas of Phnom Penh are generally not recommended. Meanwhile, areas like BKK1 and Tonle Bassac have good developments and are easily rented out.Is There Going to be Another Real Estate Crash, Like in 2008?When asked about a potential credit crisis caused by the reported current excessive credit growth in the Cambodian property industry, Fitzgerald validated the concern.He says, “The vast majority of mortgages here use property as collateral. So, I can see how this issue has been raised.” But he was quick to clarify that this isn’t enough to cause a crash. Bank policies remain strict as to what properties are accepted and require around 150 to 200 percent collateral on mortgages.Fitzgerald explains, “There is quite a bit of margin for error. But in the event, if there is a significant drop in prices, I don’t necessarily believe that it would have a significant effect to the property market.” He compares Cambodia banks as being more conservative than banks in America during the global financial crisis.Why Should Foreigners Invest in Cambodia Even with These Threats?Fitzgerald says that there’s always a risk in any market, but Cambodia has seen many foreign investors flock towards them because of the high returns. He states that in comparison to countries like Korea and Singapore where returns only range from 1 to 2 percent, Cambodia’s rate is much higher - at 6 percent. Combine this data with good research, Fitzgerald says that you have a pretty good investment in your hands.Check out IPS properties for sale and rent today!

This is an extract from "Cambodia's Real Estate: A Silent Boom," a book authored by Mr Sovan Nop - Chapter 6; "Borei Market History & Future Forecast".In 1929, the "concept of borei started out as a form of affordable houses" to accommodate families of workers to live near the place where their family members worked (Phnom Penh Post's Borei History…). Borei truly transforms Phnom Penh's landscapes. The development is too quick and too strong. Imagine within two years, huge amounts of parcels of empty land plots located in the middle of nowhere suddenly became developed areas with paved roads, electricity, sewage, and rows and rows of houses.Borei refers to a cluster of low rise residential housing, mostly flats and villas, in a gated community. The Borei market is exploding. It is the flagship of the real estate sector in Cambodia. It is the most popular product in real estate mainly because, culturally, Cambodians prefer to live in buildings which are attached to the land itself. And it provides a sense of peace and security. The "biggest appeal of living in borei townhouse is the security" and "another great factor is the peaceful environment," Sonina Thon -- a resident in Camko City -- reported in the Phnom Penh Post's Borei History: Residential Collective to Gated Community. Borei provides all the lovable criteria that Cambodian home buyers are looking for: home attached to land, security, and a peaceful environment."Cambodia needs 10,000 houses per year and a total of 1,000,000 house from now until 2023," according to the Ministry of Land Management, Urban Planning, and Construction. The demand for new homes is strong and clear. However, the supply of housing is much clearer and stronger.  Every day, headlines in newspapers and TV advertisements grab people’s attention with their "Special Discount" and "Big Promotion". Giant billboards displaying new borei developments are displayed in every main boulevard throughout Phnom Penh. On top of the giant billboard advertisements, borei development advertisement have dominated advertisement spaces in TVs, radios, newspapers, magazines, and even on the sides of public buses. It seems there are endless new borei developments.The Rise of Home Price:Even though there seems to be an endless supply of borei developments, home prices always go up. Since 1993, land and home prices go up. After all, God doesn’t create any more land. The increase in price is due to a combination of factors such as the increase in population, limited urban area, and the inevitable rise of inflation (costs of construction materials and labor). Logically, the price of real estate goes up. For example, "prices for borei homes have increased around 10 to 20 per cent" in 2015, according to a study conducted by World Trust Estate, a well-known real estate company. Home prices in Phnom Penh in general increase 5 to 10 percent on average per year, while land prices on average jump between 10 to 20 per cent annually.The unverified news that people get rich quickly and easily through land and homes are spreading like a virus. Even for the same piece of property which has been on the market for ages and has not been sold, the asking price of that property still goes up year after year. In Cambodia, property owners ask for even higher prices. Even they cannot sell their properties at a lower price years before. This creates a herding mentality which perpetuates the demand of even higher prices. For example, if your neighbors is rumored to sell their land for $500,000, the owners of surrounding areas will ask for the same or even a higher price without even considering the size or location of the land. In Cambodia, the asking price, especially for land, seem to go beyond the "market value" which is described in the Red Book -- professional valuation standards -- of the Royal Institution Chartered Surveyors as "the estimated amount for which an asset or liability should exchange between a willing buyer and a willing seller in an arm's length transaction after proper marketing and where the parties had each acted knowledgeably, prudently, and without compulsion." Despite all of that, people are still willing to pay more. Cambodia's real estate, obviously, is booming.Home Loans:Of course, potential buyers still need to have a lot money to buy a house. Some people turn to banks for home loans. In terms of required documents, bank borrowers have to go through a stricter process and have to submit all of the important documents such as proofs of monthly income, letter of employments, proofs of monthly or yearly taxation, and a valid government-issued identity such as an ID or Passport.  Through banks, potential home buyers are required to have 30 per cent at minimum of the value of the home. They are welcome to borrow up to the remaining 70 per cent. For instance, if a home is valued at $100,000, potential buyers need to gather $30,000 on their own and can borrow the remaining $70,000 from the bank. This is considered as a good requirement since Cambodia's housing market and economy are considered riskier than that of developed countries. To compensate for higher risks, banks demand higher initial deposit and even higher interest, between 9 to 13 per cent annually. Most people are turned down by the banks, while other potential borrowers find other ways to finance their homes. There is an easier and simpler way to get home loans. Borei developers are willing to step in and act as bankers for those who are interested in living in their borei developments.  Easier Home Loans:The house price in boreis has not gotten cheaper. However, the buying process, such as payment plans and required documents, has gone a lot easier. Mortgages from borei developers are a lot easier to obtain and require less down payment and less paperwork. For many people who are not qualified for bank mortgages, they turn to borei developers to finance their dream homes. This is an easier way to get a home loan. Borei developers are more than happy to step in to fill the gap. Potential homeowners can borrow directly from borei developments. In this way, borei developers are both sellers and bankers. The only restriction is buyers need to buy their homes from the same developers who finance their mortgage. Potential buyers cannot borrow money from one developer and buy property from a different developer.  Potential buyers don't need to have proof of income whatsoever. The one and only required official document is Cambodian National Identity. The initial down payment has been lowered significantly.Two giant borei developers such as Borei Piphup Thmey and Borei Peng Houth lowered their required down payment to 10 per cent. On some special occasions, the initial down payment is lowered to only 1 per cent or even nothing at all. In this special occasion, one needs only a Cambodian National ID to buy a home and a small amount of security deposit, between $500 and $2,000 to sign a Sales and Purchase Agreement which stipulates how much buyers will pay for monthly payment, such as $625 per month, for a certain period of time. Maybe 15 years. The same contract which also stipulates that the house which buyers purchased will be completed and ready to be handed over in the near future, maybe in the next 18 months. In a sense, most easy home loans are applied to only houses which have not built yet. On top of that, in case that home buyers miss their monthly payments as written in contracts, borei developers have the right to take back their houses and resell them on the open market. The same contract that buyers signed also states that buyers had agreed to put their home's title as collaterals. In the event that buyers didn't fulfill their agreements such as making monthly payments on time, Borei developers have the legal right to sell those houses back on the open market.10 Million Cambodians Need Homes:Most Cambodian home buyers can be separated into two groups: the first time home buyers and existing homeowners. The first time home buyers, mostly, are people who soon or recently got married and never owned a home before, while the existing homeowners, obviously, already have owned a home. Existing homeowners are looking to buy a second or third home merely for investment purpose only. The first time home buyers are in much stronger need to buy a home. And the good news is Cambodia has around 10 million who never owned a home before. These new 10 million people will fuel Cambodia's real estate boom for the next 20 years.Ten million Cambodians are under the age of 29, and most 29-year-olds have never owned their home before. Ten million Cambodians are first-time home buyers. "Cambodia has around 5 million young people between 15 and 25 years old," confirmed Samdech Techo Hun Sen, Prime Minister of Cambodia, during the closing ceremony of the 5th University Scholars Leadership Symposium 2014. The other 5 million Cambodians, about 31% of the whole population, are between the ages zero to 14, claimed the Central Intelligence Agency (CIA). These 10 million prospective clients will perpetuate Cambodia's real estate boom in the near future. In addition to that, Cambodia's population will continue to boom. Cambodia's population is expected to hit "19 million by 2030", according to the 2015 Revision of World Population Prospects by the United Nations’ Department of Economic and Social Affairs (DESA). Which means 4 more million are coming. This is a very good condition for borei developments. There are 5 million people currently at the age of needing to buy a home, and 5 more million will reach the age of getting married and will need to buy a home, and 4 more million will arrive in 2030.No wonder the borei market is exploding. The current boom is not enough to satisfy the new 14 million people who sooner or later will need to buy a home. 14 million people is almost equivalent to the entire current (15 millions) population. What an exciting period for real estate development. Almost an entire population will need to buy a home.Find the best real estate news on Realestate.com.kh

The current real estate market is experiencing significant growth — particularly in major business district centers in the city. There’s also a growing interest for land and residential markets in suburbs. Among this growth, Chroy Changvar new development along National Road No. 6A is increasing as 2017 dawns.Chroy Changvar is climbing the market land price index as a result of the rapid development growth in the area. Prices for land in this area are rising faster than most areas of the city, as developers seek tracts of land here for large scale projects. This has attracted millions in investment from high-scale development companies for residential projects on hundreds of hectares of land in the area.Upcoming Chroy Changvar New Development Projects Along National Road No.6A:Chroy Changva is now a hotspot for high quality developments like the High Land Development Project that comes with a land area of 120 hectares; The Flora Development Project with 150 hectares; the LYP Development Project with 100 hectares; the Mekong Royal Development Project with 13 hectares; the Borey Peng Houth Development Project and the Chroy Changvar City Development Project that totals to 307.3 hectares, a satellite city project by OCIC.And recently, Orkide Villa inaugurated its third project at the Chroy Changvar area, along the national highway No. 6A. The Botanic City project has a land size of 140 hectares and is 7 kilometers away from Chroy Changvars bridge connecting the area to central Phnom Penh.The municipal has also just revealed a plan to build a new bridge across the Tonle Sap river – connecting the West Tonle Sap Riverbank and Kilometer No.6 to the East Riverbank, linked directly to the OCIC Chroy Changvar City Development Project area.All these projects will serve both local and international residents with mixed-use developments like commercial areas, businesses, offices, serviced apartments, condos, gated borey communities,  restaurants, sports areas, modern and eco-friendly industrial parks, shopping centers, markets, etc.Ms. Chev Sokhun, marketing manager of The Mekong Royal, said that “seeing as Phnom Penh has expanded, residential needs is also growing day by day. Therefore, we decided to start a project in this area.”She continues to say that they chose this area because there are rivers surrounding it, with fresh air and more space for residents. Chroy Changvar offers The Mekong Royal a chance to build a uniquely green focused development. It’s proximity to the National Highway also allows connections to other provinces easily.Mr. Cheng Mony – a customer who bought a hybrid villa at The Flora project in Chroy Changvar –  said, "I want to live in this area because it has a big road, no traffic jams - which is different from the central city. And I’m also interested in new developments here. I see several large projects that have started in this area. I think the future will be very attractive and we can expect good growth here for both lifestyle and return on my investment."What are the successful Chroy Changvar New Development projects  so far?These Chroy Changvar New Development projects have been completed totally, and have been well sold and occupied. Successful projects are ones that have been considered to have a good design, marketing strategy, sales, quality, and turnover -- making them good investments as well in terms of investment return for developers and a good quality of life for residents. Advisor of VTrust Appraisal, Mr. In Sitha, said there were successful investment projects in the area before. Those include the Borey Sopheak Mongkol, Borey Chinatown, Borey New World, Mekong View Condo,  the Mekong Garden Condo, and many more. Those projects was already sold and now being living by residents.What is the potential in this area in the future?Mr. In Sitha, said that Chroy Changva is like a peninsular. It is geographically good for living in because it’s lined up alongside rivers, a smog-free place and and an eco-friendly natural environment.  He adds that infrastructural and transit systems have improved which makes it more convenient to commute for residents. Price of land in this area is still steep but offers more possibilities for developers to invest. Land prices are pretty high on the main road area. The current land prices also increased by half compared to 2 or 3 years ago. Sitha also said that “because of a potentially big investment to transform the area into a major commercial hub, there are also more projects diverting their direction there.” For now, no matter how small or how large the projects are, they can find success because there are customers at all levels. Local customers will gain satisfaction from a local lifestyle by choosing a flat or borey. And the high-end customers or foreigners can choose a modern lifestyle by living in a condo.Mr. Chrek Soknim, CEO of Century 21 Mekong, said Prek Leap, Chroy Changva is a good place for residential development. He adds that there are currently more people moving into the area and that housing developments in the area are very successful.All Property for Rent in Chroy ChangvaBuy Property in Chroy Changva

Ancient times have seen the rise and fall of numerous Kingdoms. And Cambodia has stood through all of these times. This feat has been immortalized through the establishment of the Royal Palace in the 1860s, which remains as the residence of Cambodia’s royalty.   But another royal residence is now within reach of the people of​​​ Cambodia. Yet, unlike the Royal Palace, the Imperial Crown Condominium will feature decadent Baroque architecture and furnishings to make your home feel like your own Kingdom.... The History of Baroque Architecture and Design:Baroque was a loosely used term in the late 16th century to describe an artistic style which focused on the finer details of an art piece. This was eventually translated into the realm of architecture to reflect religious victories and power in Italy. It evolved into secular expression in the middle of the 17th century as it spread throughout France and Europe. This style of architecture was commonly used when constructing grand palaces across Europe and eventually into flowed into the design of opulent chateaus across France.Baroque architecture in modern times refers to design that encapsulates the elegance and detailed architecture of Europe collectively. It can be easily identified with its usage of richly sculpted surfaces to create three-dimensional features, and a tapestry of textures and variation - down to the smallest details.   Baroque architecture can be classified into four periods. Early Baroque refers to the years 1600 to 1625. High Baroque refers to the years 1625 to 1675. Late Baroque refers to the years 1675 to 1725. Finally, Rococo refers to the Baroque architecture from 1725 to 1800.The Imperial Crown Condominium will feature a modern take on the early Baroque period style of design.The Crowning Glory of Phnom Penh:The Imperial Crown Condominium will do more than just decorate the cityscape of Phnom Penh with its elegant and artistic architecture. It will also accentuate and complement the surrounding establishments. Strategically located at Street 360 of BKK1, Imperial Crown is situated in the most valuable residential area of the country.  The charm of Imperial Crown is not all external though. The 161-unit development also features opulent Baroque styled interiors, incorporating the highest grade materials and brands such as Bauformat, Teka, Rinnai, Laufen and Steinberg. It will also utilize handmade carbon fiber doors that have been imported from Taiwan and Italy. Genuine silver painted 50-year-old Mahogany furniture will also be a staple in each of the units. This attention to detail within Imperial Crown falls perfectly in line with the grand Baroque tradition.Want to Live the Royal Life?Imperial Crown Condominium boasts high quality construction and timeless aesthetics designed to be passed on from one generation to the next. Visit the showroom in BKK1 today to experience a new standard of living in Cambodia.Find out more about Imperial Crown Condominium!

Cambodia as an emerging market has placed great importance into building quality infrastructure. This is evidence by the many existing friendship bridges and road projects that are currently underway.This is a key consideration for investors, according to Marc Townsend – Managing Director of CBRE Cambodia and Vietnam – as stated in his recent presentation on the topic “Is Cambodia’s Residential Market a Target For Investment?”Shifting from Agriculture:Slowly but surely Cambodia has dug a little deeper into infrastructural improvements in recent years, compared to a policy that primarily focused on agricultural development in the past.Around 67 percent of the $4.6 billion investments in 2015 came from the infrastructure sector. According to Townsend, infrastructure goes beyond what we normally think about infrastructure. He says, “It’s not just being able to get from A to B quicker, being able to move around faster, get goods and services quicker, logistics quicker. But it’s also the trickle down effect of those salaries that are being paid – not particularly big salaries being paid to construction workers but also to the entrepreneurs and the contractors and the subcontractors and all the people that are buying the cement and other products that go into the infrastructure.”He explains that even with the great success of past infrastructure projects, “Cambodia needs probably ten years of infrastructure being the most important sector.” He adds, “Obviously, the road from here to Kep doesn’t get any safer, doesn’t get any wider, doesn’t get any better lit.”Foreign Direct Investment:Townsend mentions that “it’s important to see where we’ve come from, where the FDI numbers have come from, and where they’re going to.” Cambodia’s FDI comes from countries like Canada, Korea, Thailand, Vietnam, Japan, Malaysia, Singapore, and the UK. But probably the biggest FDI contributions trace back to China. Their investments in 2015 totaled 60.6 percent out of the $1.4 billion that were placed in the country.Townsend mentions that China’s contributions had been so great that “it’s almost impossible to find an article that talks about Cambodia without at least three paragraphs on China.”Around $2 billion worth of infrastructure was also funded through China’s concessional loans. This includes the Four-Lane Express Way between Phnom Penh and Sihanoukville, the National Highway 11 which connects Preyveng to Kampong Cham, a bridge crossing the Mekong River from Steung Trang to Kruoch Chmar in Kampong Cham.Other upcoming infrastructure projects will include the Sak Sampov Bridge, National Road 21a, National Road 58, Koh Thom Bridge, National Road 55, and the Chrey Thom Bridge. These projects are due to be completed anywhere between the next three years.Smooth Landing:Townsend also explains that more infrastructure means that “it will open up more land. You have had, in the last three to five years, a huge run up in land prices both in the CBD and around the CBD. But obviously, as ring road structures and bridges go in around the city, additional land becomes available. And hopefully, there’s an ability for price per square meter to stay stable for longer.”The role of infrastructure is taking its root in the Cambodian market. Townsend says that it has both its good and its bad effects. Cambodia has the ability to prosper if it takes the right strategy in utilizing these investments and infrastructures to its advantage.Find out more about development news in Cambodia on Realestate.com.kh!

The past two decades alone have seen monumental changes in the different aspects of Cambodian economy and society. One of the sectors that have benefited from all these changes is the real estate market. CBRE Cambodia states that “the global value of commercial real estate investment transactions stayed above $200 billion in Q3 2016, suggesting that the market has stabilized after a drop in transactions at the start of the year.”Marc Townsend –Managing Director of CBRE Cambodia and Vietnam – discusses some of the factors affecting the market’s growth in his presentation on “Is Cambodia’s Residential Market a Target for Investment?”Demographics:Demographics say a lot about any potential behavior changes in the Real Estate market. Townsend says that Cambodia does not have a greying population too. He explains that “as a residential developer, this is an eye-watering opportunity.” He adds, “Cambodia is the least urban population. That is going to change. And obviously, once people have graduated from the universities in Phnom Penh, they’re not going to go back to planting rice in the fields. There are 53 universities in Hanoi, I think there are 65 in Ho Chi Minh. And I’m sure the kids that come from the Delta will never go back to the Delta. And again, this will happen here. And obviously, for those of you who are residential developers, that is your target market at the appropriate price, at the appropriate location in the years to come.” He also says that higher expenditure growth is a good omen for developers.Foreign Developers and Investments:Townsend talked about an upcoming investment surge as well. He jokes, “I choked over my bacon this morning when I read these numbers and I’m assuming that they’re well researched.” He explains that there’s an estimated “7.6 billion dollars coming into real estate in Q3. That is a huge number.” He also said that local developers were initially at the forefront of the real estate sector. This has changed significantly throughout the years. He said that “the market has always been dominated by Cambodian developers. But then as it gets bigger, and wider, and deeper, and includes other cities and other types of property, Taiwanese, South Korean, Malaysian, Singaporean, and now, obviously, Chinese developers get involved as well.”Infrastructure and Environment:Townsend explains that traffic is a big problem in Cambodia and it can take its hold on the market. He said that “it’s all very well for land to be acquired and projects to be built. It’s really depending on the infrastructure.” He recalls having to travel around an hour from a nearby area to the airport.  He says that “the reality is that is what’s going to be your life for the next five to ten years before they start to really join up the underpasses and the overpasses. An underpass or overpass takes, what, a year and a half to build. It screws the traffic up for a while. And that’s life in the city that’s growing with a population that will probably double in the next five years.”He adds that Cambodia is fortunate to only be dealing with traffic and not pollution too. He warns that “For the moment though, you’ve just got traffic to cope with and not pollution. It will come as your industries start to change.”Learn more about the Cambodia investment climate in our in depth guides!

The chaos of the city can be suffocating at times. That is why One Park Condominium is well located in the newly developed Phnom Penh City Center township - where you can not only breathe better but also live better. Wide roads and sophisticated water, electricity and town planning infrastructure sets the newest district of Phnom Penh apart from the rest.As issues of congestion, flooding and lack of greenspace plague investor confidence in other areas of the city, One Park offers a unique prospect to both home buyers and forward-thinking investors.Within Phnom Penh City Center, One Park will be a mixed-use development covering 7.9 hectares of land, a firm base for 2.5 million square feet of floor area with the units of the project.Phnom Penh City Center is situated adjacent to the Prime Minister’s office along Russian Boulevard, just minutes from Cambodia primary central business district. It’s also just 15 minutes away from the Phnom Penh International Airport.Ready to Occupy Soon:One Park will include a collection of shophouses which form an encompassing ring around the entire development. Within the outer shophouses, there will be over 1,600 condominium units.The development will also see the rise of an integrated collection of retail outlets, cafés, restaurants, bars, and an internal plaza boulevard to accommodate families and friends. An international standard school is also set to launch in 2018.The shophouses are expected to reach completion by the end of May 2017 and are now nearly sold out. Condominium units are available for purchase now also. The first phase of condo units are expected to be handed over to buyers by mid-2018, and will range from one to three bedrooms, with penthouse options available.One Park is a project by renowned developer Graticity Real Estate Development; in partnership with leading Singapore-based architectural design firm, DP Architects; and under the professional guidance of the China Construction 2nd Engineer Bureau. This partnership sees over 1,200 workers on site, working 24 hours a day to ensure top of the line construction quality, fidelity with the vision of the developer, and ensuring completion deadlines will be met. The developer is also offering financing to buyers and an investment planning service. These options are available to prospective buyers on request.Merging Influences in Design:One Park is designed will a combination of European and Khmer aesthetics in mind. This is embodied in both the structural and interior design. The importance of inviting nature into the complex is also visible in the final design - with plants, trees, and other greenspaces consistently incorporated into the development. These offer residents a changing scenery as seasons pass and a connection with nature, even within the Phnom Penh CBD. The developers have also intentionally placed and angled all buildings with a North-South orientation to ensure an optimization of shade patterns and wind flow.Residents of One Park Condominium will also enjoy several amenities such as the swimming pool, clubhouse, BBQ area, various gardens, playgrounds, and gyms. One Park will also offer a parking space sufficient to cater to each unit owner. There is 1,600 parking spaces in the form of an internal parking podium. There are also additional off street parking spaces that accompany the shophouse and retail spaces.Learn more today:If you need a breath of fresh air, consider One Park Condominium and guarantee a luxurious, peaceful, and clean lifestyle for you and your family for generations to come.Find out more about One Park Condominium!

The General Department of Taxation issued Instruction 18410 which clarified withholding tax obligations for real state entities who sub-lease properties. The new instruction essentially refines the law to remove a double tax obligation.   In the past, the real estate entity would normally withhold 10% of the rent from its Lessor; and in a sub-lease situation, the tenant of the real estate entity would withhold 10% of the rent on the sub-lease to the real estate company.  Instruction  18410 now provides for an exemption on the withholding tax on the sublease, if both the lessor and lessee are registered tax payers.  “Instruction 18410 is another example of the GDT responding positively to the market, which identified this as a duplicate tax for real estate entities, a withholding tax obligation in this case on both the Lessee and Sub-lessee on the same exact space” commented Anthony Galliano, CEO of Cambodian Investment Management.  “Under this Instruction, the real estate company is still required to withhold the 10% tax on the rental payment to their Lessor.  However, when the registered real estate company subleases to another registered taxpayer, the sub-lessee will no longer be required to withhold 10% tax on the sublease with the real estate company, provided a VAT Invoice is issued,” continues Galliano.“As the market demand for property management companies is growing, and given the supply of offices coming to market, this clarification is supportive of the industry as it simplifies the tax situation between two registered taxpayers in a subleases to just VAT”, he further added.  The new instruction has apparently been met with confusion in the industry thus far.Kim Heang, president of the Cambodian Valuers and Estate Agents Association, urged the the General Department of Taxation to create a forum and invite real estate agency owners to clarify and explain what this new directive entails and what it can do for the sector.He explains, “We don’t have any objection to the directive as the government wants to improve tax collection.” He continues, “In my view, the general department of taxation should hold a public forum and invite all real estate agents so they know their tax obligation. I think it’s the best way as many don’t know much.”By James Whitehead, director of content @ Realestate.com.khThis story was a co-production of the Khmer Times & Realestate.com.kh “Property” Liftout. The section is available every Wednesday in the Khmer Times newspaper, with 10,000 copies distributed across Cambodia every day. Contact us today for advertising opportunities in the Khmer Times/Realestate.com.kh Property liftout. Find latest real estate news on Realestate.com.kh

The end of the year is coming and a new one is about to unfold. And what better way to end 2016 than with a celebration? This is why Phnom Penh City Center partnered with PTG International to host and co-organize the Phnom Penh Year End Festival 2016.Friends and families are invited to gather this coming December 25 to December 31, 2016, to experience fun and entertainment as the year comes to a close. The event will hold a series of activities which will include two large-scale concerts and a series of mini-concerts that will start on the 25th of December.The roster of famous personalities appearing and performing will include Koy, Eva, Sovath, Yuth, Veasna, Krem, Cambodia’s Next Top Models, and Super Dream! In addition to that, festival-goers will also be treated to the F&B and consumer goods exhibition which will happen every 9am to 10pm on the festival dates!The organizers are expecting an attendance of 100,000 local and international visitors.The organizers also aim to use this event as a means to showcase the potential and the diversity of the area. Mr K. Elamaren, Deputy Head of Project Management & Construction at the PPCC – in a recently concluded press conference for the event – explains, “The event provides us with a dynamic platform to interact directly with our stakeholders – current and future – in a very tangible way. The Phnom Penh City Center township offers modern city conveniences through our integrated accessibility, and comprehensive traffic and drainage systems.” This event will showcase the economic potential and the various ongoing developments located in Phnom Penh City Center, right in the heart of the city.The event is sponsored by Cellcard, Angkor Beer, Soukea Restaurant, and Dara Restaurant. Join the party at the Phnom Penh City Center and experience great food, great music, and great company.Check out two exciting projects underway in Phnom Penh City Center: The Edge & Residence 90

It’s no secret that foreigners can own high rise properties via strata title in Cambodia. But what is not widely known is that foreigners have additional options to legally own land in the Kingdom.If you're interested in other topics related to investment in Cambodia be sure to click over to our Investment Guide 2019.Here is a guide from Realestate.com.kh to show you the different options regarding how to invest in Land in Cambodia, for foreign investors:How to invest Land in Cambodia by Forming a company with a Cambodian CitizenWhat do you need to set up an Limited Liability Company?How to Invest in Land in Cambodia through a Long-term leaseWhat are the advantages and disadvantages of a long term lease for a foreigner in Cambodia?How to Invest in Land in Cambodia by Registering Real Property With a Cambodian Citizen - a.k.a Buying via a NomineeWhat are these documents for in the nominee structure?How to Invest in Land through Concessions in CambodiaHow do I apply for an Economic Land Concession in Cambodia?How to Invest in Land in Cambodia by Cambodian MarriageWhat happens when you get a divorce?What are the requirements to get married in Cambodia?How to Invest in Land in Cambodia by Cambodian CitizenshipLet's get started...How to invest Land in Cambodia by Forming a company with a Cambodian Citizen:Foreigners can set up various businesses in Cambodia. This is easily done.But they would have to form a limited liability company or a private limited company with a Cambodian citizen/s first if they want to own land in the country under that company. This is because foreigners aren’t allowed to buy land directly, as according to the Cambodian constitution.However, when a Cambodian citizen owns 51 percent of the company, that company is then entitled to purchase land under its name and can do anything with that land within the legal bounds of the law in Cambodia.  Chapter VI, Article 16 of the Law on the Investment of the Kingdom of Cambodia states that “ownership of land for the purpose of carrying on promoted investment activities shall be vested only in natural persons holding Cambodian citizenship or in legal entities in which more than 51% of the equity capital are directly owned by natural persons or legal entities holding Cambodian citizenship.”But this can be a cause for concern for investors as a minority stake in the company appears to remove the controls from the foreign shareholders over those business assets.However, a careful allocation of the shares and an appropriate draft of the rights that are attached to the share certificates can guarantee full control for the foreigner involved. A foreigner can also opt for an additional mortgage, security, and Power of Attorney documents in order to ensure its full control over the land or other real estate vested in the company.What do you need to set up an Limited Liability Company?You need to make sure you meet the requirements first before you set up a limited liability company. This includes the need for two shareholders, a director, and a minimum capital of $1,000. The LLC will also need a corporate bank account, a real office space through a registered agent, and a local Khmer company name. These can usually be arranged with the legal assistance of independent lawyers. An LLC takes around 8 weeks to set up and a separate 4 weeks is needed to set up the bank account. The LLC will then need to file annual tax returns and register for VAT after incorporation.Foreigners are expected to pay 100 percent of real property purchase costs and construction costs. If a decision is made to sell the real property, 100 percent of what it was sold for goes to the foreigner. It is advised to detail this on the company and sales documentation.You have to check the uniqueness of your company’s name before setting it up. This will cost $10 through the Ministry of Commerce. You are then required to deposit $494 through an authorized bank under that name if it is unique. Do not lose your deposit slip. The second step requires you to get a company registration form for $5 to $15. This can be obtained through the Cambodian Investment Board. You then have to shell out another $15 to get an official company seal.The next thing you have to do is to create and publish a company abstract through a recognized newspaper. You also have to wait 30 days after your company’s established before enrolling it into the commercial register through the Ministry of Commerce. After setting up the company, you then need to get your documents stamped. This will set you back $26. You also need to fill out forms and documentations to get your official tax registration. That is the last step to get your company officially set up and recognized.There are additional documents you can obtain to ensure security of ownership over that company. A security document will set you back $1,000. The Power of Attorney document will cost around $500. Mortgage will be at around $1,000. A registered title deed is priced at $500. Company documents and license will cost a total of $1,200. You may need at least $5,000 for the total process.How to Invest in Land in Cambodia through a Long-term lease:Purchasing land isn’t exactly the same as leasing it. But it’s the next best thing. It’s easier and less expensive than setting up a company to buy land.This method technically allows foreigners to “purchase” real property. But foreigners would need to allow the registered title deed to remain under a Cambodian citizen’s name. Both parties formally enter a long-term rental agreement. Land is able to be leased to the foreign national for periods up to 50 years - however cases of 75 and 99 years are not unheard of.What are the advantages and disadvantages of a long term lease for a foreigner in Cambodia?The only downside to this method is that you still do not hold full ownership over the land - and this means that some uncertainty remains for the investor over the security of their asset. You will need to first get the thumbprint and signature of the Cambodian national before you can sell the property.But proper drafting of property holding and lease arrangements terms help make this a secure means of gaining control over real property. Foreigners can also hold on to the original copy of the title deed as an additional safety measure because the Cambodian national cannot sell the property without it.A long-term lease provides lessors the rights to develop the land they’re leasing. They will be able to obtain construction permission under their own names. This also entails that the foreigners involved will also be able to sell the property and keep all of the of the sales revenue. The attached financial obligations to this method for the foreigners will be for the legal assistance of a lawyer and any amount agreed upon for the price of the property and the lease agreement. These prices may vary.How to Invest in Land in Cambodia by Registering Real Property With a Cambodian Citizen - a.k.a Buying via a Nominee:This is otherwise known as a nominee structure. This structure lets foreign investors enter a trust agreement with the land holder. The land is put up for mortgage after that. It is then leased out to the foreign investor involved.  You need to secure 4 documents first. These are the mortgage agreement, the lease agreement, the loan agreement, and the security agreement.What are these documents for in the nominee structure?The mortgage agreement’s registered at the Sangkat. It transforms the buyer into a bank. This prevents further activity by the Cambodian national without the permission of the foreign national. Further activities would require approval from the foreign national.The loan agreement is a paper loan that’s made between the nominee and the foreign national. It accrues interest over time. The lease agreement gives the foreigner the right to legally reside in the property. The Security agreement lays out the necessary limitations and obligations of each party with regards to the property.Foreigners are allowed to own any type of property through this structure. But this method is not advisable as it is in violation of the constitutional prohibition on the direct ownership of property by foreigners. It is a sort of loophole that the government is trying to regulate. Costs for the whole process also varies depending on the agreement of both parties involved and the agreement of the buyer and their lawyer.How to Invest in Land through Concessions in Cambodia:According to Article 48 of the Land Law, “A land concession is a legal right established by a legal document issued under the discretion of the competent authority, given to any natural person or legal entity or group of persons to occupy a land and to exercise thereon the rights set forth by this law.”There are three types of land concessions available in Cambodia. These are the Use, Development or Exploitation Concession, the Economic Concession, and the Social Concession.Social Concession allow beneficiaries to construct residential projects and cultivate State land. Economic Concession allow beneficiaries to clear land for purposes of industrial or agricultural exploitation.Use, Development or Exploitation Concession are not regulated under the 2001 Land Law – specifically, Article 49 and 50. But this type of concession includes port concessions, mining concessions, industrial development concessions, airport concessions, and fishing concessions.Article 52 and 53 further states that “A land concession may only create rights for the term fixed by the concession contract in accordance with the provisions of this law. A land concession cannot establish ownership rights on the land provided for concession except for concessions responding to social purposes.”It continues, “A land concession can never result from a de facto occupation of the land. The land concession must be based on a specific legal document, issued prior to the occupation of the land by the competent authority, such as the State or a public territorial collectives or a public institution that is the owner of the land on which the concession is being granted. The concession must be registered with the Ministry of Land Management, Urban Planning and Construction.Land concessions cannot have more than 10,000 hectares and is limited to 50 years but may be revoked by a government decision if there is a problem with compliance.The most common concession type foreigners go for is the Economic Land concession.How do I apply for an Economic Land Concession in Cambodia?An investor cannot apply for economic land concession from abroad. They are required to have a registered company in the country, a valid tax identification number, and an active local bank account. Once this is in place and a piece of land is located, the investors must apply through the Ministry of Agriculture. They will require documentations to prove financial qualification and additional documentation detailing information of the investor.The Ministry of Agriculture will then review the land details listed on their database. They will decide whether it can be made available for a concession based on the review. The official bureaucratic machinery will come into play if the land is available.Representatives from the Ministry of Agriculture, Ministry of Environment, the Council for Development of Cambodia, the provincial government, and the Ministry of Commerce will then form a commission to review the feasibility of the application. So, investors will also need to include a business plan and supporting documents during the application process.The Ministry of Environment is assigned to create an ‘Environmental Impact Assessment” which studies the different factors pertaining to the land. These include elevation, settlements, waterways, and soil. This process takes 3 months. The assessment will include the land designation, religious sites, community property, and settlements mapping. The local government is in charge of the socio-economic factors and effects.The Ministry of Agriculture then forwards the application to the Office of the Prime minister after the application is approved. The PM will then sign and authorize the Ministry of Agriculture to go into a concession deal with the investor. The investor is then tasked to create a master plan or a five-year business plan.The public land of state will then be transferred to a private land of state once the master plan is approved.The CDC will provide special tax status for the investor’s company such as exemptions and reductions. The company is then going to be noted in the investment register through the CDC.The approximate duration to complete the process will be 6 to 9 months.How to Invest in Land in Cambodia by Cambodian Marriage:Foreigners married to a Cambodian citizen are allowed to register real property using the name of their spouse on the title deed. In case a citizenship has been granted to the foreigner, the Cambodian Law states that the land can be registered under the names of both husband and wife. This follows that there should be a mutual agreement before the land is sold.What happens when you get a divorce?Should there some a time when a divorce or separation is needed, the land and property division is dependent upon the conditions of any court ruling that refers to the divorce. Interracial marriages require the participation of the embassy of the foreigner’s home country and different local government agencies such as the Legal and Consular Department of the Ministry of Foreign Affairs and International Cooperation, Ministry of Interior, province officials.What are the requirements to get married in Cambodia?For the wedding itself, you would need several documents such as a certified birth certificate copy, a valid passports and its photocopy, a visa and its photocopy, an affidavit of single status, an affidavit of marriage, criminal records, certificate of profession, divorce or death certificates in case of a previous divorce or death of a previous spouse, a medical certificate from Calmette Hospital that’s located in Phnom Penh, and a marriage application form.Other legal requirements for marriages include a civil or religious ceremony, the woman is considered to be at least 18 years old and a man at least 20. There should be two witnesses for the wedding. A wedding must be registered at the Civil Registry Office in order to be recognized.How to Invest in Land in Cambodia by Cambodian Citizenship:One way for well-off individuals to buy land is by getting an honorary Cambodian citizenship. This can be obtained in two ways. Either by donating at least $312,500 for the Cambodian people through the Cambodian Government or by making a significant impact to the country.Being granted an honorary citizenship allows foreigners to purchase obtain 100 percent of the rights to real properties. But it is important to note that the foreigner’s original nationality is not affected in any way.Individuals may also gain residential status in the country by living here for 7 years.Cambodia is breeding grounds for successful developments where land is a main proponent. As more people gain interest in the country’s real estate climate, it is entirely possible to see a number of foreigners included in the same crowd of people who make a profit from land that they own.Learn more about investing in Cambodia, with Realestate.com.kh’s in-depth investor guides!

The coming up of high-rise buildings in Phnom Penh, coupled with the strata titles ownership development there over the years have altered the landscape of property investment and management in the city.Essentially, how well the strata titles owners co-manage the building such that it remains competitive for rental or resale market in the course of the investment, is one of the key considerations.    Given that, the owners shall therefore collectively adopt a certain standard of maintenance for the building, develop rules for communal living and sharing and most importantly, dutifully pay for the common funds determined.  Some best practices of it and our observation are:  1. Best Practices   (a) Facilities shall be maintained in accordance with the advice laid down in the operational manual in question religiously. In the case of it being misplaced, seek help from the manufacturer.  (b) Conduct pre-emptive repairs or parts replacement, do not wait for problems to arise.  (c) Cleaning, landscape and security services are to be contracted to competent service providers. Save for compelling reasons or professional input, the required manpower and frequency of service are not to be curtailed.  (d) Personal needs services such as leasing, repairs, laundry, delivery, SOS attendance may be made available to residents in the building.(e) Compliance matters such as inspection, tests or the likes must be strictly complied with.  Some international standards of safety (such as weekly water testing, yearly electricity/ fire alarm testing and fire drill etc) though not mandatory in here, should be practiced.(f) Set up management committee, operating procedures to look into the maintenance needs and long term wellbeing of the property.(g) Set up common maintenance and contingency funds, collection and control procedures thereof.   (h) Engage professional property management firm to render advice and services.2 .Correct Mind Set (a) Correct thinking will support and sustain best practices. Very often, property owners curtailed the manpower or frequency of service of a maintenance contract half way through, reject a proposed increase in maintenance contribution for “cost cutting”. Sadly, this downgrades the quality of the building quickly and results in a greater loss. (b) Correct mindset of the people to comply with rules and cooperate with the management is also important. This will help enhance the name of the building.  3. Statutory Provisions  In Singapore, the relevant statutory provisions make management fund and sinking fund contribution mandatory, allows recovery actions of it to the point of a forced sale of the property in question. Some other breaches of the laws will result in it being fined or jailed.  In any country or system, this is imperative as it ensures satisfactory compliance.   Observation and expectation.Strata titles property ownership is very new here, many of the concepts have not been taken shape. In the absence of a legislation, the implementation of standard practices may be challenging, let alone adopting the best practices.  However, given the encouraging foreign investment and progress here, we are certain that a state of the art strata titles property management system will firm up and even on statutory footing in a not distant future.Meanwhile, we continue our sharing of best practices and experiences with the property owners and take effective steps to moderate some of the not so desirable practices here in our bid to prepare them for the new order.   By Benny Tan: Principal Consultant, Raffles Strata Management (Cambodia) Pte Ltd;  benny@rsm.com.sgFor more updates and information, check out the news section of Realestate.com.kh

With Phnom Penh exhibiting signs of saturation in the high end real estate development market, developers and investors are looking south to Cambodia’s coastal city of Sihanoukville.Realestate.com.kh caught up with Ross Wheble, Country Manager for Knight Frank Cambodia, to get the lowdown on what factors are stimulating the current growth.How is the infrastructural development of Sihanoukville feeding into real estate and property development?One of the main drivers of real estate development and investment anywhere in the world is infrastructure. A few recent infrastructural developments are spurring investor confidence in Southern Cambodia.The Sihanoukville airport is set to become Cambodia’s largest airport, according to various sources. This means more and more regional airlines flying direct to Sihanoukville from international destinations. Grand Union Group, the developer of Dara Sakor at Koh Kong, has also recently received permission to build another airport. While this is not in Sihanoukville, it still represents another access point not far from the city. Until quite recently, airlines were reluctant to offer direct flights to Sihanoukville until a minimum number of hotel rooms were available. Meanwhile developers wouldn’t construct and hoteliers wouldn’t operate in Sihanoukville while the airlines weren't delivering passengers. This standoff has stalled hotel and airline investment in the last few years. Yet now, with the influx of new routes direct to Sihanoukville, luxury hotel brands are trickling in. For instance, Alila, co-founded by the former financial advisor of Aman Resorts, an upscale hospitality group operating in over 20 countries, will launch a 5 star luxury venue on an island off of Sihanoukville. Six Senses Krabey Island is also scheduled to premier in 2017, a large Thai operator of 5 star luxury hotel venues. This trend seems set to continue.Meanwhile, the Chinese-operated Sihanoukville Special Economic Zone (SSEZ), already the biggest SEZ in Cambodia, has announced its intentions to double its capacity and open 300 factories by 2020. New flights from mainland China to Sihanoukville have also been launched recently, specifically to service the SEZ. Continued expansions of the deep sea port are also reducing shipping costs for Sihanoukville based industrialists. Another SEZ in Sihanouk, Steung Hav SEZ, also has a license to build a second deep sea port in coming years.A new highway from Phnom Penh to Sihanoukville has also been slated, and is supposedly due for completion by a Chinese contractor by 2020. This not only aids travelers, but is a key improvement for manufacturing logistics between the factories of Phnom Penh and the Sihanoukville deep sea port.How does the Government’s Coastal Development Plan fit into this?Alongside this private investment, the Government is drafting a coastal development master plan, with certain elements now actively being enforced in regards to protection and maintenance of ecological assets such as beach fronts and mangroves. While these changes are hurting some businesses now, especially on Ochheuteal beach, in the longer term these measures seem to be on the right track to preserving the region's tourism assets. A coastal road connecting Sihanoukville to Kampot and Kep has also been announced.What major development projects are already underway?There have been a handful of major mixed use developments launched in Sihanoukville thus far, and seemingly this is the start of a Sihanoukville condo market set to continue. To name those that we are aware of: D’Seaview; Sunshine Bay; Blue Bay Condominium; Royal Bayview Condominium; The Scarlett (a time share condotel); and Blue Sky Tower.Meanwhile, since beginning of 2016, hundreds of millions of USD of investment has landed in the Sihanoukville, predominantly geared towards integrated resorts, casinos and the gaming market. In turn, a large number of gambling licenses have been granted. This thirst for casinos is being driven primarily by Chinese investment.Meanwhile, at Ream, a lesser known part of Sihanouk province, a huge economic land concession of around 3,300 hectares is being developed by the local owner in conjunction with foreign investors. So far around 15 agreements with investors for parcels of land have been signed, with the long term vision of building an integrated hospitalities zone, including golf courses, luxury hospitality, leisure, gaming and eco tourism ventures. A jetty/port that could support cruise ships has also been planned here, able to receive cruise ships from destinations such as China and Hong Kong.What does this new focus on Sihanouk Province say about the state of the Phnom Penh market?When looking at the overall number of condominiums compared to the size of the population, there is no oversupply. However, there is an oversupply in the high-end segment of the market and we are now seeing a shift towards the launch of more affordable condominium projects in Phnom Penh targeting the domestic market. Factoring in the buying power and preferences of the local market, the vast majority of rental demand for these high-end condominiums will be from the expatriate community residing in Cambodia; hence the likelihood of downward pressure on proposed rental returns once projects are completed over the coming years. Sihanoukville represents a different proposition, there are different fundamentals at play: tourism is strong pull for foreigners and locals, but simultaneously there is a strong economic focus in the city, with many international companies currently setting up here. This population of comparatively wealthy foreigners, in addition to a significant increase in tourist arrivals which is set to continue for the foreseeable future, suggests that there is an untapped rental market in Sihanoukville which has caught the attention of developers and investors alike.  Why not Siem Reap?In comparison to Siem Reap, Sihanoukville offers better long term potential. Yes, Siem Reap has tourism and will continue to - but Sihanoukville is simultaneously an economic hub which will underpin demand for residential accommodation over the long term as the population continues to grow. Furthermore, whilst Siem Reap attracts visitors due to the world heritage site of Angkor Wat, once international tourists have seen this wonder, they are unlikely to return. Coastal resort destinations, if developed well, encourage repeat visitation with tourists returning year after year. Another factor to keep in mind, although not economically viable at present, is the oil and gas reserves offshore in the region which will drive the long term growth of Sihanoukville once extraction begins.By James Whitehead, director of content @ Realestate.com.khThis story was a co-production of the Khmer Times & Realestate.com.kh "Property" Liftout. The section is available every Wednesday in the Khmer Times newspaper, with 10,000 copies distributed across Cambodia every day. Contact us today for advertising opportunities in the Khmer Times/Realestate.com.kh Property liftout. Check out the best Sihanoukville property listings on Realestate.com.kh

As the construction industry has risen to become the single most progressive engine of economic growth in the Kingdom, various sector stakeholders suggest there is an increasing need for added legal protections within the industry, overarching urban planning, along with more protections and long term policies to sustain investments in the sector.The Phnom Penh Master Plan 2035 seeks to dictate the urban planning for the expansion of the city and construct new infrastructure to accommodate the growing population. Until now, the city has had no zoning regulations of note nor clearly identifiable urban development planning.Slow implementation of master planning is raising concerns over traffic congestion, and general infrastructural capacity in the key districts seeing high number of condo development projects.Knight Frank’s Ross Wheble states that, “Cambodia’s real estate market is still at a nascent stage of development and teething problems along the way are to be expected. However, a key area of focus for any developing country should be infrastructure. This includes both hard (physical infrastructure; such as roads, railway networks, mass transportation systems, utilities) and soft infrastructure (the education system, healthcare system, financial system) - and it is well documented that infrastructure development is important not only for economic growth but also for poverty reduction which, in turn, increases demand for real estate over the long term.”He continues, “The Government has certainly been making progress in this regard, with numerous major infrastructure projects having completed, commenced construction or been announced during the past few years, but there needs to be an overarching infrastructure policy to set the proper framework.”“A key obstacle to overcome is the funding of such projects, which is particularly relevant in developing markets. One way to tackle this is through planning policy, which is another area that needs to be addressed to improve transparency in the market. In developed markets, it is not uncommon for developers to be required to make significant contributions to infrastructure improvements to ensure that the impact of high density development on the existing infrastructure network is mitigated. With the increasing number of development projects being announced in the Kingdom’s capital, this is certainly an area that needs to be reviewed,” concludes Wheble.Sunny Soo, of Keystone Property Consultants Co., Ltd., an international associate of Savills, adds, “the legal policies of a comprehensive town and country planning system has to be in place now and that it needs to improve continuously and simultaneously adjusting to a larger vision in the future, notwithstanding market transparency and good regulatory enforcement framework. There is no other way about it. Legal guidance and clearer future planning policies in line with good enforcement will be of utmost importance to serve and lead the market toward a healthier city development; whether the aim is to subside a strained city’s infrastructures or serving a role of directing sub-urbanization. But more importantly it also leads to better self-regulation in the future, and that’s when the level of assurance for a healthier real estate market can be elevated.Another real estate area in need of improving is the “soft infrastructure” - meaning those features of the country that make it suitable for living, such as educational institutions, medical care and retail options. While these things are improving, there is certainly some way to go before Cambodia represents a lifestyle on par with the countries from which investors are coming from.Marc Townsend, managing director of CBRE Vietnam and Cambodia says that Cambodia is an increasingly attractive area to settle down. This is because it has a lower cost of living than other popular areas for retirees.But he warns that Cambodia still has to work on medical, travel, and infrastructure concerns in order to attract more mature investors like Malaysia. He states, “We weren’t trying to prove anything here because we were just trying to see whether there was a market that was sustainable. Malaysia’s gone a long long way to trying to attract retirees with their silver-hair visa. And Cambodia is just starting. And it’s interesting where it possibly could go. As long as you get the right type of retirees.”He explains that cost of living is one of the main selling points for normal expats. But this isn’t always the case for all ages. He says that “a lot of it comes down to medical. And if you’re in good health, it’s not something that you worry about. But obviously, as you get older, the ability to have just a simple consultation, ten minutes with a private practitioner/general practitioner – in your own language – and knowing that the pharmaceuticals you’re buying over the counter are safe, again, these are issues that Cambodia has yet to overcome.”Learn more about recent Infrastructure upgrades in Cambodia!

As the Cambodian architecture industry becomes more competitive, a new generation of graduates are pushing their way into the industry with the help of relevant tertiary education, creativity and innovation. However, within this demographic, women are also proving to be a key human resource of the industry. Realestate.com.kh caught up with a few women currently active in the Cambodia architecture industry Ms. So Sopha, an ex-student of Royal University of Fine Arts and currently architect at the Archetype Group; Mrs. Tep Sothy, a fifth year student of Architecture and Urban Planning at the Royal University of Fine Arts; and Ms. Tri Lida, 2D architect in technical team at  Re-Edge Architecture & Design weigh in on what it’s like to work in the field.What’s your background and why did you decided to enter the architectural industry?  Sopha: When I was in school, I spent a significant amount of time finishing projects from all my classes. Sometimes even a whole night. To be an architect means to sacrifice a lot of your spare time. I didn’t  hesitate to push myself in this career though because I love being creative and innovative. Sothy: In 2012, I just got a bachelor’s degree. Most of my friends chose university subjects like accounting, finance and banking, pharmacy. I eventually decided to study architecture, a subject which everyone thought had no job market and is only for men. But it’s a job of innovation I like. So, it’s really best-suited for me.Lida: I chose this major because I like painting a picture and applying my imagination. I like working as an artistic designer doing creative work. It’s possible to say that I want my dreams to come to life. I’m fond of creating new things.    Which architect and what type of architecture do you like?Sopha: I like Zaha Hadid. She’s an international and renowned architect. She did the Galaxy Soho, Beijing (2012) and Sleuk Rith Institute, Cambodia. And if we’re talking about architectural work, I mostly like natural and green architecture because it’s eco-friendly and looks fresh.Sothy: Mr. Tadao Ando is a Japanese architect whose work is reflective of sunshine that is believed to be connected to a lovely mindset. Some of his achievements are The Church of the Light in Ibaraki and The Pulitzer Foundation for the Arts. Moreover, there are other architectural works in Cambodia such as the Ta Prohm temple, some French colonial construction, National Olympic Stadium, and some bamboo houses in Takhmao which was built in 2015.Lida: The architect I like are Vann Molyvann — the father of Cambodian architecture and the founder of the New Khmer Architecture — and Jean Nouvel, a French architect. I like the Olympic Stadium. And every achievement of Molyvann that’s well-designed and good-looking. He incorporates the Khmer style by converting nature into sustainable buildings where the air and sunshine go from the inside out. We feel better and comfortable about this.What are the challenges and benefits of working in the Cambodia Architecture Sector? Sopha: This kind of work is really hard and requires a lot of time to complete. But I’m excited when I’m able to innovate, especially when customers are satisfied with my work. This is proof that I was able to present a high standard of living context.Being an architect is mostly considered to be a man’s job and very few women in the past have worked in the sector. But today, it’s common for women to step into an architectural career. For instance, I am working as an architect and I experience no occupational discrimination. Sothy: When I was still on my first year, I thought this major was related to everyday living. But this major requires long years of keeping busy with school projects and coming up with new creative ideas. We also need to spend a lot of time in construction sites. So, this is why people say architecture is a man’s job. I’m happy with my class and with my works as an architect. It really provided me more creative ideas. On the other hand, this kind of job is a collective of art design, taste of life, modern techniques, and especially the combination of mixed-culture. I’m now at my fifth year. I have studied a lot about urban planning, and I think I understood more about it. Lida: When we say “architecture industry”, the initial thought for me is it’s really difficult. But on behalf of women studying in the sector, I can say both challenge and pleasure work together. Time is valuable for this job. I don’t have enough time with my family and even to sleep. A professional and skillful architect needs to be highly responsible and committed, as well as self confident on what they are doing. Actually, if we have no love and commitment with the job, I believe that we can’t do it well. In terms of what makes me happy, I get the chance to express my ideas as to what kind of buildings I like to design. And those may also become my achievements, especially if my clients are happy. This job makes me smile, whenever I look back and recall memories. I also learned to value friendship and communication with many different people in society. Have you ever experienced employment discrimination in the Cambodia Architecture Sector? If that happens, what is the solution? Sopha: I’ve never had experience with employment discrimination as an architect, even in the workplace.Sothy: While there is gender discrimination in this industry, most of them are on the outside. They’re not in the aspect of this job environment. There’s still a notion that this is still a man’s job. But inside the job environment, there are very few people who think that it’s impossible for women to do this work even if they are required to work on site day and night. However, this job requires using the heart. You have to be thoughtful and creative. So, there’s no reason to think that it’s impossible for a woman to do it. Lida: For instance, nowadays, I work in Re-Edge Architecture & Design. There are both men and women working there. They don’t discriminate. We, as women, are not  discriminated against by men. Instead, we have even been offered more opportunities to express ideas to make the design better. And we are free to share good experiences with each other. I like it. However, in case of discrimination from a coworker at the workplace, it seems to me that the best solution is to first show our abilities. Let them see that what a man can do, a woman can do better.  If you were married and you’re an architect, what are the challenges as a couple? What are the suitable solutions? Sopha: I already know this job demands a lot of time. So, you get to spend less time with the family. I just need to lead a happy life and find a good time to spend with my family. I can’t deny that this is really hard to manage.Sothy: Although I have yet to marry, as far as I’m concerned, it would be trying to understand each other. It needs time and preparation between your job and the family. We need to spend time for family and ourselves as well.Lida: For now, I am single. But I believe problems will happen. The most important thing is time and preparation.Find the best real estate news on Realestate.com.kh

Citizens and investors of the country will soon be able to work, play, and live in The Gateway Cambodia – a prime new development property that’s set to change the urban landscape of Phnom Penh city.The Gateway will be a freehold mixed use development that will include residential, retail, and office options for local and international investors.The development will see the rise of an ample 7-storey car park and 2-storey retail podium, a 39-storey residential tower, and a 36-storey office tower. It will also feature a sky terrace and a basement car park on its residential tower. There will be a total of 299 office units and 572 residential units in the project.The residential units will range from one to three bedrooms and will have luxurious fittings and private balconies to match. These units will offer a guaranteed 6 percent return per annum for two years. For buyers who commit soon, there’s an ongoing “Star Buy Promotion” for a limited number of residential units; One bedroom units start around $130,000 range; two bedroom units start around $200,000 range; and the three bedroom units start around $250,000 range.The office tower will have a helipad, a double-glazing glass for heat reduction, 8 elevators, and a separate fire elevator for safety. Uniquely, The Gateway offers the only Grade A offices for sale in the Phnom Penh Central Business District area. These units will offer a guaranteed 8 percent return per annum for two years. There’s also sound potential for capital return due to the high demand in the Phnom Penh office market segment currently - as the city transforms into an epicenter for inter-Asean manufacturing and trade.The Gateway Cambodia will be carefully crafted using quality construction materials by a competent set of local and international industry experts. The developer, TACC (C.R.) Ltd., have utilized the services of 2nd Edition Pte Ltd for the interior design, award-winning Mr. Lim Koon Park of Park + Associates Pte Ltd for the architectural design, KCL Consultants Pte Ltd as the structural engineers, and United Project Consultants Pte Ltd as their M&E engineer.The developer has around 40 years of construction experience and 15 years of real estate experience in Singapore, and is currently listed on the Singapore Stock Exchange.The Gateway Cambodia is set to reach completion by December of 2019. It will be strategically located along Russian Boulevard. It is one of the only major roads in the country from the airport to the city centre that has no flooding potential. This transit route is also undergoing significant development to maintain its usability moving forward into the next decade of Cambodia’s growth.Located just 15-minutes drive from Phnom Penh International Airport, The Gateway will be the tallest building from the airport to the office of the Prime Minister. It’s also near important establishments and amenities such as the Ministry of National Defence, the Thai-managed Royal Phnom Penh Hospital and a host of world-class International Schools and respected Universities. Parkson Mall is also underway along the same boulevard, and is set to become Cambodia premier retail mall complex.It’s also close to the Phnom Penh City Center development site, a huge tract of land under development on the former Boeung Kak Lake, which is the only area in the country with a full master plan. According to the developer’s source, a future MRT station will also be built near The Gateway project.The developer’s research shows high potential for return and a doubling of capital appreciation every 5 years due to high foreign direct investment from countries like Japan, Korea, Europe, and China. There will also be a guaranteed 6 percent to 8 percent yields per annum.Take a look at the development if you want to find a space that promises convenience, comfort, and luxury in a city that is rising dynamically in the ranks of Asean. You don’t have to settle for anything other than The Gateway.Find out more about this great project from The Gateway’s professional sales team today!

Home and business security is important for all property owners in Cambodia. Crime prevention requires attention from the right providers in order to ensure that your property is secured. However, it is also important to look after yourself.Ms. Sim Kalyan, general manager of Global Security Solutions (GSS), recently talked to Realestate.com.kh about how to stay safe when living in Cambodia. What qualifications should security companies have?Kalyan said that the history of the security company's management should be reviewed, especially the Managing Director’s. Check for experience and if they have a clear policy for the staff, such as if their salaries regularly paid or if the security guard’s salary is good enough. This is crucial because you must have a guard that is loyal to their company above all else. Try to also look for information on whether the services are good enough from past customer.Also check whether the security company’s registered and licensed in the ministry. There are more than 200 security companies in the country and some of them don’t have licenses.What safety precautions should we take in Cambodia?There’s always a risk of pickpockets or thieves. Kalyan advised not wear a lot of jewelry when going outside, using a small bag and putting it inside shirts in order to avoid pickpockets.In terms of robbery protection, bodyguards can be an option for those who can afford them. Alternatively, walking with two or more people lowers the risk of robbery. But we should also be careful in crowded places. There can be a possible kidnapping because of neglect. Knowing where to sit or where to look around also helps.In case thieves are following you, it’s recommend not to go home. It’s better to go to crowded areas or places like hospitals or police stations. The daily commute should include scouting areas in case of emergency.Kalyan also mentioned that it’s better not to go home when you’re out past midnight night. If you really need to go home, inform your family. Do not set up a password on your phone so that if you are in an accident, the first on scene can still contact your close friends or family.  Should I use insurance even when I already have security systems?A security company will guarantee limited payment in case something happens. Choosing insurance is a good safety net for any damages that could occur.Kalyan said that those who have plenty of high-valued objects should use insurance services. Also, doing a consultation with an expert insurance firm or consultant is advisable before you decide to purchase a home or business. When using insurance, You only need to pay a fixed monthly amount  to get compensation for what has been lost. Insurance service is the best choice for property owners who want to eliminate risks on their property asset.Other factors to consider:Kalyan added that if you know you’re being watched all time, you shouldn’t leave the workplace with a consistent schedule. Leave early sometimes and sometimes late. We should not drive only one route. By doing this, the thief will not know exactly what time you leave and which  route you take.In addition, there are three strategies: run, fight, and hide. These three strategies can enable us to escape from danger. But we also have to be responsible to know when to use each method.Learn more about home security in Cambodia!

Outcome of Trans-Pacific Partnership presents uncertainties and opportunities for flight-to-quality activities30 November 2016, Singapore – Knight Frank, the independent global property consultancy, today launches the Asia-Pacific Prime Office Rental Index for Q3 2016. The index monitors prime office rents in 19 cities across Asia-Pacific. For Q3 2016, eight cities registered positive rental growth, down from 10 in the previous quarter.Results for Q3 2016Knight Frank Asia-Pacific Prime Office Rental Index grew 0.6% in Q3 2016 compared to the previous quarter as a result of rising rents in eight markets and rental declines in six markets.Tokyo continues to experience the highest rental growth, although demand is expected to taper off as a strong supply pipeline looms.Singapore sees the largest decline in rental due to slowing global economy.Going forward, we expect rents in 14 cities to remain steady or increase, unchanged from last quarter’s forecast.While it is still early days, the results of the US election is likely to lead to more uncertainty across the region, with the likely end of the Trans-Pacific Partnership (TPP) a blow to export-dependent economies. Mr Nicholas Holt, Head of Research for Asia-Pacific, says, “The outlook for the regional economy is uncertain as the future of the TPP hangs. We expect a knock-on effect on office demand when export-driven economies are dealt a blow should the TPP be dissolved.“Given the significant amount of supply coming into a number of markets, we do see opportunities for occupiers to upgrade into superior space, as the pendulum swings from landlord to tenant-friendly conditions.”Download the full Knight Frank Report