The growth of real estate in the Kingdom has sparked interest for a new wave of local and international investors to take advantage of various investment opportunities. In particular this includes first time investors, eager to make their first step into the property market.Here are a few key points from Realestate.com.kh to aid first time investors. In Part 1 we will look at the importance of having a clear purpose, and how to begin to evaluate the potential of your impending property investment.Ensure your purpose is clearBefore diving into any decisions, first ask yourself; what type of investment you’re looking for and clearly establish your motivations. Are you looking for real estate in Cambodia? Are you going to live in the property and resell at a later time? Do you plan on living and doing business there? Are you investing for the short or long-term? These are all key questions that you should have clear answers to before moving any further in the investment process.This first step will help you to easily narrow down your options- especially in a market like Cambodia’s, where an abundance of property types and opportunities are available.For example, if you’re looking for properties in Cambodia that you can either rent out or sell at a later time, you should look thoroughly into; villas for sale in Phnom Penh, condo for sale in Phnom Penh, flats for sale in Phnom Penh, and borey for sale in Phnom Penh - and embark on researching the areas that are in demand. All of this key information is available from multiple online and published sources.Examine the property’s potentialDepending on what type of property you’ve chosen, it is critical to undertake  further research, such as which locations can offer you the lowest price for the highest potential for growth and profit. Being completely honest with yourself about what you can afford and the actual return on investment, is something you need to be completely clear on.Keep in mind when examining the property’s potential you will have to factor in variables such as; maintenance, repair, and business fees attached to the property. Payment terms, loans and interest will also affect the total amount you need to spend to secure your investment.These are the first steps to take into consideration as a first time investor. Tips for Property Investors - Part 2 we will delve deeper into the evaluating a property's potential and the mechanisms available to protect yourself and your investment in the long term.Want to learn more about investing in Cambodian Property, read our article Why invest in Cambodian Property or visit Realestate.com.kh for more information

Mr. Teng Rithy, Founder and Director of Property Investment Realty Partner, has over 10 years experience in the real estate industry, and is well regarded as an authority on investment on the Kingdom’s booming real estate sector.During the Cambodia Real Estate Show 2 held on 6-7th October, 2017 in NagaWorld, Mr. Rithy delivered a seminar focused on giving practical advice to Cambodian’s seeking a sustainable home investment.Please see the full the video here!To begin with, Mr Rithy provided an analysis of the key areas of development in Phnom Penh.  He further highlighted the importance of following Phnom Penh’s 2035 Master Plan, in order to make a successful investment in the property market.  The announcement of the Master Plan was initially in October 2005 by the Governor of Phnom Penh, to highlighted the principal areas and development plan of Phnom Penh - and the plan is still anticipated to continue developing until 2020. Mr Rithy highlights the following key developments areas and their purposes  in Phnom Penh, based on the Master Plan, thus far:1. Preak Pnov: Facilities development and the development for the administration business area.2. Chroy Changva: Development of commercial, office and tourism work.3. Areyksat : To become an established entertainment center, and the development of jobs and necessary facilities.4. Boeung Kak: To continue to build commercial offices of international standards and improve tourism development in the area.5. Triangulation area: Focus on improving harbors, and becoming an area of potential for large scale developments.6. Chom Chao: The ultimate goal is to become the ‘service town’’, for the commodities of the business and working.7. Chbar Umpao, Boueng Snao:To become the forefront area of both commerce and tourism8. Takhmao, Chak Angrae: A prime area for work institutions and a focus on entertainment and lifestyle.Mr. Rithy believes that before making any investment in a particular area, it is vital that the prospective investor is aware of the relevant city's ‘Master Plan’, as it enables an informed investment in an area where future benefits can be reaped. Mr Rithy believes that an uniformed decision and disregard for these vital plans can lead to the failure of an investment.  From Mr Rithy's perspective, the development areas in Phnom Penh have so far followed the Master Plan. For example, LYP Group has already built LYP bridge and been developing other projects in Prek Pnov area- redeveloping the area into a transportation hub of Cambodia. Likewise, In Chroy Changva, Oknha Pung Kheav Se, a renowned “business tycoon’’ has been developing Chroy Changvar Satellite City, and other Borey projects have also been developing in that area.Furthermore, 111.6 hectares Phnom Penh City Center (PPCC) is being developed in Boueng Kok area and is set to become Phnom Penh’s Central Business District where modern business, innovation and international-standard infrastructure will meet.Mr. Rithy emphasised that every real estate investor must follow and  understand and follow the city’s Master Plan as he see’s it as ‘’the backbone of investment’.”If we do not follow Master Plan, our investment is doomed to failure. For example, if you want to build a 30-storey condominium and buy land in the area that there is a height restriction for the building, this means that you are investing in the wrong location and will face trouble with your investment.” Mr Rithy stated.He continues: “For home buyers, If you buy a residential project, you should look for renowned developer building a project which can provide a ‘’one-stop’’ living environment with facilities as; schools, hospitals, banks, markets, offices, restaurants and gym etc, onsite or in the area.  Some developers do not focus on these facilities which is a reason why their project is not a success and there are not many clients interested in their project”As a developer, before construction of a residential project, Mr Rithy believes the focuses should be on the environment (fresh air), safety (quality of building) and facilities such as; big gardens, swimming pools and easy water, electricity, and sewage system. Good management and economical efficiency are critical factors as well. “Sustainable home living means that you can live in that home for a long time- and with pleasure”. according to Mr. Rithy.  One project that Mr. Rithy has been directly involved with is The Mekong Royal project - located along National Highway 6A. Mr. Rithy stressed that this project achieved success because it focused on all these factor and creating a development with an ecosystem of features for residents. So far, The Mekong Royal has sold 95 percent of its units.Commenting on growing plot land transaction trend outside of Phnom Penh, Mr. Rithy said: “Some plot land development is not in accordance with Phnom Penh’s Master Plan. For example, some locations are for industrial purposes but people use those areas to develop residential projects.”Mr. Rithy explained that in this case, the developers are not looking for a sustainable home investment. This is due to the reason that residents will not live a comfortable life in the area due to  more factory buildings, that make a lot of noise- which ultimately affects resident’s health. “The worst thing is that there will be no hospitals or schools in those areas since it is for industrial, not residential purposes” Mr Rithy concluded.Ultimately, for any developer and buyer looking to invest in Phnom Penh- looking at the Master Plan should be one of the first steps, as it enables the individual to be fully informed about the future of their area of investment, and develop or buy a project which will suits lifestyle needs in the long term- and allow for a return on the investment.Read more about Borey Buyer GuideSearch property fo sale in Phnom Penh and property for rent in Phnom Penh on Realestate.com.kh!

The  process of buying or renting business is often time consuming and may seem complex. However, by following a step by step process this can be simplified and help you ensure acquiring your new asset achieves your desired results.Last week in Considerations when buying or renting business property - part 1, we discussed about acquiring business property as a whole and the first steps in identifying the right business for you. This week we take a further look into identifying the right business for you and the role that real estate agencies and lawyers play in this process, thanks to Realestate.com.kh!Identifying the Right Business For You:One of the final steps that should been taken once you have specifically researched the type of business you would like to invest in, and have embarked on looking at the longevity of your investment- is maintaining an interest in the relevant market.Last week we used the example of investing a hotel business and how you will need to delve deeply into looking at your potential investments’; brand, reputation, duration of operation- among other factors. Once this specific research has been completed, the last step is keeping yourself fully informed about the property market going forward.This will mean proactively taking into account legal changes taking place, legal requirements, local and up-and-coming competition within the market. Make an effort to cast your eyes over real estate and business news, magazines, newsletters and website advice- these resources can provide definitive information and help solidify your choice of business property.Lawyer assistance:Generally if you buy or rent a large scale business property, this always requires good a lawyer. The lawyer will create all the legal documents, payment, and responsibilities. All these will  be set down in the heads of agreement at a point in the negotiations. The bigger contract - the harder it is. The Heads of Agreement is an important and useful stage in the negotiations process. It essentially condenses the key elements of a sale into a single document for both parties to see the agreement.Agency services:A good real estate agency is always crucial, as a buyer or a renter -especially if you are not sure about the market. When you come to agents, they can guide you towards the right property within your budget plan and to a preferable location.Ultimately, when it comes to buying or renting a business, doing your research and fully informing yourself about your prospective investment is critical. Enlisting the help of experts, lawyers and agencies are all ways to solidify your investment and it’s longevity.Interested in buying a business property? Check out the latest property for sale in Cambodia on Realestate.com.kh!

Dear Valued Readers, We are delighted to announce the release of the November 2017 edition of the "Cambodia Real Estate" magazine, powered by Realestate.com.kh! Being part of our exclusive subscriber's database, you will have the chance to access our online version before anyone else in the country!In this edition of the Cambodia Real Estate magazine, we take a look at the swift economic and real estate growth in lesser known areas such as Poipet and Battambang; we review the advice for savvy investors looking to invest in real estate hotspots, such as Siem Reap and Sihanoukville- before land prices rise; we consider the delving into the major influence that Chinese investors are currently having across the Cambodian real estate sphere; we include the two sneak-peak extracts from our highly anticipated, soon-to-be-released Cambodian Real Estate Investor Guide 2018; where we look at Foreign Ownership Law and tourism trends in the Kingdom in great detail; you can have a comprehensive look at upcoming developments from across the Kingdom, as well as the hottest listings from the country's leading agencies.Smart real estate buyers and sellers know the market inside out before they make their decisions. Because of this, "Cambodia Real Estate" magazine includes location profile, land price, insider advice and investor guides about how to invest intelligently in Cambodia.Find out the real estate news on Realestate.com.kh

Far larger than last year when the focus was on Phnom Penh’s landed housing market, VTrust Appraisal this year has conducted comprehensive surveys across seven key cities of Cambodia on both landed housing and condominium markets. To learn how the markets will look like this year as compared to what it did last year, RealEstate.Com.Kh (ReakhNews) met with Mr. Hoem Seiha, director of research at VTrust Appraisal, to discuss over the subject.ReakhNews: As we recall from what VTrust Appraisal presented last year about landed housing market, could you provide a brief of the results of your surveys this year?Hoem Seiha: We’ve seen a drop in new launches for both landed housing and condominium projects, be it a few thousands of units for landed houses, as opposed to a very large number in 2015 and 2016, be it tens of thousands of units in just Phnom Penh alone. However, 2017 saw a very huge number of landed houses being completed and most of them are ready for occupants to move in. This resulted from many of the previous housing development projects that were launched between 2015 and 2016.ReakhNews: You’ve also mentioned about condominium market in the surveys this year. So could you also provide a brief snapshot on this market?Hoem Seiha: When we talk about condominium market, we refer it to that of Phnom Penh, as the market is not available in other provincial cities, except Sihanouville. Entry of new project launches was seen remarkably in 2015 and 2016, whose figures as combined represent almost half of the total supplies that accumulated for eight years. There was a strong market performance in term of primary market sales during the last few years, but now the situation has cooled down because buyers meet difficulty reselling their bought units.ReakhNews: We’ve heard this year VTrust Appraisal has also included some key cities of Cambodia in the annual housing market surveys. How has it been now? Could you brief about the results of those cities? Which cities have the most potential for housing markets?Hoem Seiha: We’ve done for sure. For the results, we’ve gone through some figures – all the studied provincial cities as combined will never match with those of the capital city in term of the number of new cluster housing units. Yet there’s surprising news – Poipet city, a cross-border city of Banteay Meanchey province, located along Cambodia-Thai borders in the north-west part of the country, outnumbered other cities in term of new cluster housing units as of 2017. This city has been known as “dry port”, as busy as the well-known seaport in Sinhanouville, and the city itself serves as a bustling hub for not only import-export but also trading and entertainment activities. For provinces with potential, we’ve seen many of them, but Sinhanoukville seems to stand out the rest at the recent moment.ReakhNews: You have mentioned Poipet city has more new cluster housing units than the other studied provincial cities. Can you give more reasons? Further, in what way does Sihanoukville stand out? Can you just give some examples?Hoem Seiha: Again, Poipet is a cross-border city where a huge volume of trading and entertainment activities exist. A large number of traders have been moving in there from different places across the country and settling down there for that economic reason. The housing supply has to increase to keep with that pace. For Sihanouville, as you might have seen, condominium market has recently boomed thanks to a huge volume of investments from foreign countries, mainly China within a recent moment. Some of the completed borey or cluster landed housing projects that were once dormant almost a decade has now been reborn by almost full occupancy. A few of cluster landed housing projects have been broken ground around the city, while some of the condominiums have been erected high enough to overlook the sea views.ReakhNews: It’s all interesting news, and there seems a lot more to learn about the results of your surveys. We don’t have enough space here to provide all the details, though. For our audience who might want to learn more about the markets, what comments do you wish to leave for them here?Hoem Seiha: Again, we have conducted housing market surveys in Phnom Penh and some key cities across the country. We have summed up our reports on market findings and will present them to our audience at our annual seminar “Housing Market and Outlook Report 2017 – Cambodia (HMOR 2017 - Cambodia”, which is going to be held on 15 December this year at Raffles Hotel Le Royal. At the seminar, we will present the most comprehensive market survey results as of 2017 on housing and condominium markets within key cities of Cambodia, including Phnom Penh, Sihanoukville, Siem Reap, Battambang, Poi Pet, Takhmao, and Kampong Cham.Register for the seminar:Ms. Un Sreylot, Secretary (Khmer speaking only) | H/p (855)23-220-098 / vta@vtrustappraisal.com | Mr. Hoem Seiha, Director of Research (Khmer or English speaking)H/p: (855)12-699-553 / email: seiha@vtrustappraisal.com / website: hmor-pp.weebly.com  #113 (Parkway Square), 2nd floor, Mao Tse Tung Blvd, Tuol Svay Prey 1, Phnom Penh, Kingdom of CambodiaFind out the best real estate news on Realestate.com.kh

Surrounded by several potential development areas: Sangkat Boeung Kak, Sangkat Phnom Penh Thmey, Sangkat Khmuonh, Sangkat Krang Tnuong, and Sangkat Teuk Thla, Toul Kork is currently considered as one of the four developed areas in Phnom Penh joining Khan 7 Makara, Khan Chamkarmon, and Khan Daun Penh. Toul Kork is also known as “a fast-up-and-coming-area” in terms of both residential and commercial real estate development - see Realestate.com.kh article Houses for Rent in Toul Kork: Renter's Guide for more information!Mr. Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork is now considered the second most popular residential area after Beung Keng Kang 1 (BKK1) since this area has big houses, huge vacant plot land, and improved infrastructure.”“Recently Toul Kork has transformed itself into actual BKK1, showing great potential down the line because the area has bounded by new developments. Moreover, there will be a new thirty-meter wide road, which is underway on the old railway located between Toul Kork and Boeung Kak lake connecting Russian Boulevard to Sankat Russey Keo,” Mr. Sorn added.In regard to land price, Mr. Sorn said: “land prices in Toul Kork is relatively stable at the moment compared to other developed areas in the city. land price in Toul Kork has seen neither increase nor decrease over the last 2 years even though there have been a few significant price increases in 2014 and 2015, before the property market achieved its current stability. In any circumstances, the land price will never decrease, even though there are few buyers.”Mr. Touch Bin Beakna, Valuation Manager at Key Real Estate, said: “The most potential areas in Toul Kork are Sangkat Boeung Kak 1 and Boeung Kak 2.  Land price in the two areas can be divided into two parts: the land along the main road favorable for large-scale commercial purposes, and the land along the smaller road conducive to residential development such as condominiums, serviced apartments, and hotels.”“Along the main road No. 289, No 315, and No 337, land price averages between $2,500 and $3,000 per square meter while along smaller roads, land prices range from $1,500 to $2,000 per square meter,” added Mr. Touch.“Other areas in Toul Kork have less opportunity for future investment because the are is already fully developed with residential development and land price is remarkably high. Along the main roads such as Mao Tse Toung Boulevard, Phsar Depo road, and Oknha Tep Phan street, land price has an average of $3,000 - $4,000 per square meter while along the  smaller roads in Sangkat Phsar Depo 1, 2 and 3, Sangkat Teuk Laak 1, 2 &3, Sangkat Boeung Salang and Phsar Deum Kor, land price starts between $1,500 and $2,500 per square meter.”Key Real Estate is basically working in Toul Kork area and the company hopes to help both local and international buyers to be fully aware of the value of each type of property in particular locations, and especially offer them exactly what they need within their budget plan.For Mr. Sorn, Key Real Estate aims to sell the confidence first to the clients in order to give them better and more reliable quality service provided by our firm. With all the staffs being fully trained, Key Real Estate is one hundred percent sure they can utilize their knowledge and experience to serve their clients with the highest quality service.Key Real Estate has a vision to provide the best quality services for all property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector. Key Real Estate is your win-win partners!Read more article about Toul Kork Transforming Itself from Residential to Mixed-use AreaClick here for current properties for sale in Toul Kork and current properties for rent in Toul Kork

Asian Development Bank (ADB) has funded $950,000 for Environmental Infrastructure Project that will rehabilitate the area around renowned Crab Market (Phsar Kdam) in Kep province, according to Sok Sokhun, deputy general director of the Ministry of Tourism.During the recent groundbreaking ceremony held by the Ministry, Mr. Sok said: “ADB funded the project to further attract more foreign and local tourists to the coastal destination, and would be building a tourism centre, installing a drainage system and erecting a network of public toilet facilities. The infrastructure project will be completed by August of next year.”Kep is among Cambodia’s popular coastal tourist destinations along with Kampot and Sihanoukville and is also well-known for its eco-tourism. In September 2017, the Environment Ministry, a committee consisting of all Asean member countries, awarded Kep for the “Asean Environmentally Sustainable Cities.”Local real estate agents welcome ADB’s infrastructural funding in Kep. Sok Ken, the founder of Kampot Property, said: “infrastructural development in Kep will further make this coastal province more attractive for local and international tourists. Meanwhile, the project will help push land price surrounding Phsar Kdam to rise in value, a good news for local landlords.”At the same time, Mr. Mam Sereypanha, the CEO of Easy Property Investment, said: “Infrastructure development is very necessary for the new town such as Kep. ADB’s infrastructure funding in the province plays a vital role in improving the province’s development, especially tourism sector. Kep is similar to Phuket in Thailand or Bali in Indonesia because it has excellent eco-friendly environment, a popular destination for wealthy local and European tourists.”Search property for sale and property for rent in Kep on Realestate.com.kh!

Toul Kork, once an underdeveloped area, has become an attractive suburban area thanks to its continuous rapid developments. Over the last few years, there have emerged a number of big projects such as The Gateway, Parkson Mall and TK Avenue as well as Phnom Penh City Center (PPCC), the most well-known and largest mixed-use project in the area.All these projects are gradually transforming Toul Kork from residential to mixed-use area similar to Boeung Keng Kang (BKK)’s development model. Toul Kork, also known as a rapidly developing area, is becoming the next target for local and international investors seeking for a good return on investment after development in BKK is saturated.  Mr. Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork has become a popular investment destination for local and international investors and is now transforming itself from residential to mixed-use development area similar to what Boeung Keng Kang did 6-7 years ago.”“Recently, Toul Kork has seen many necessary facilities such as international schools, hospitals, malls, retail space, bars, restaurants, coffee shops, hotels, serviced apartments, and condominiums. And even if it has yet to have all amenities as much as BKK1, it’s no doubt Toul Kork will become the next BKK because its development structure looks almost the same as that of BKK, Mr. Sorn added.Two Sangkats in Toul Kork: Boeung Kak 1 and Boeung Kak 2, have recently become the most popular area, largely because the possibility of investment return is high compared to Boueng Keng Kang where land for sale in Toul Kork has reached its price cap.Toul Kork has more available big plots of land for development and land price is also not as high as that in BKK. The collection of amenities in Toul Kork which cater for local and international newcomers will attract more people to come, pushing the demand for more property and so the value of property in the area will automatically increase, according to Mr. Sorn.For those investors interested in investing in Toul Kork, they can contact local real estate agency Key Real Estate with over 10 years experiences in buying, selling and evaluating all properties in the area.The company has highly motivated and skilled staff with strong capacity and knowledge to serve the clients with the highest quality service. The company hopes to help both local and international buyers to be fully aware of the value of each type of property in particular locations, and especially offer them exactly what they need within their budget plan.Key Real Estate has the vision to provide the best quality services for all property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector. Key Real Estate is your win-win partners! Click here for current properties for sale in Toul Kork and current properties for rent in Toul Kork

The Gold Tower 42 development project is set to resume its construction in 2018 and finish in 2019, according to Mr. Kim Tae Yeon, general director of Yonwoo Cambodia Co, Ltd, who owns the project. The development has now been announced under a new title: GT 42.After Yonwoo’s signing ceremony of the reactivation of GT 42 in Phnom Penh with Chinese firm Shengzheng Hongtoao Decoration and Waiman Construction & Engineering (Macao China) on November 22, 2017, Mr. Kim promised that his company will definitely finish the project on time.In an interview with local media, Seng Load, spokesperson for the Ministry of Land Management, Urban Planning and Construction, said Yonwoo sent a letter to the MLMUPC in August stating that they would construct the building in the next six months, leading officials to believe that the development would be started earlier this year.“Nevertheless, I’m still not sure whether the promise will come to life or not. Please don’t be hasty in your publication, because this owner has issued the same statement numerous times already, but none of those statements have been realised,” Mr. Seng added.Gold Tower 42 was delayed during the height of the world’s economic crisis in 2008 and failed to resume its construction several times. However, the project has finished 32 stories of its building before it was postponed again.Mr. Hay Ravy, marketing and sales manager of Daily Realty Group, said: “it remains to be seen if the project will finish on schedule due to its delay history. However, if the project resumes and finishes on schedule, it will be another positive sign of Cambodia’s real estate sector because Gold Tower 42 represents one of the big projects in the Kingdom with a history that has left a shadow over the market. By rejuvenating this GT Tower 42, foreign investor confidence should rise.”If you are inInvest in the most renowned new development projects today, on Realestate.com.kh!

Over 2,000 people attended the 3rd Global Alumni Convention (GAC) on 17-18 November 2017 at the Sokha Hotel & Residence in Phnom Penh. The event is organised annually by IDP Education (Cambodia), a world leader in international student placement services.This annual convention series again brought together graduates from Cambodia, Australia, Canada, New Zealand, the United Kingdom, the USA, France, Russia, Korea, Japan, China, Malaysia, Singapore and others and provided them a forum to meet, share ideas and network with experts, decision makers and leaders from governments, the private sector, and civil society.The GAC 2017 featured three separate components – the Global Business and Education Forum, the Global Education and Career Expo, and the Global Alumni Reunion Gala Dinner.Officially opening the event, HE Prak Sokhonn, Senior Minister and Minister of Foreign Affairs and International Cooperation encouraged Cambodians to embrace the role as ambassadors of their nation with their achievements. “To my Cambodian fellows: At home, you are the symbol of hope and the key that would unlock our country’s potentials,” he said. “To the outside world, you are our nation’s ambassadors in your own humble ways and interestingly enough you need not report to me. You are our face, our fame, and our brand. You are the spokesman and salesman that the world would get to know Cambodia and her people through your lens. I trust these roles, whether you care to assume them or not, will remind and reignite you to always be the best you can be.”HE Dr Hang Chuon Naron, Minister of Education, Youth and Sport who gave the Keynote Address at the Global Alumni Reunion Gala Dinner said, “The Global Alumni Convention is a unique event which brings alumni, the government and industry together to discuss hot topics, network and share experiences. This event is an important symbol of the growth in Cambodia’s human resources.”Joining the minister at the opening ceremony, HE Ms Angela Corcoran, Australian Ambassador to Cambodia said, “The Global Alumni Convention is a really relevant event to Cambodia today, firstly, it brings a whole lot of education providers and different businesses so that Cambodians can look at those and see what their options are for education around the world. Secondly, it is an event that brings alumni together to network and to learn from each other which is really an important thing.”Also participating in the opening ceremony HE Mr Bill Longhurst, British Ambassador to Cambodia stressed the important role of education in the event saying, “The GAC will, I am sure, play host to discussions of many similarly exciting initiatives in the education field. I wish the convention and all participants every success in learning, networking and sharing their experiences”“The Global Alumni Convention was a great opportunity for members of different alumni associations to come together to share experience and information and develop a network with alumni from other corners of the globe,” said HE Mr George Edgar, European Union Ambassador to Cambodia at the opening ceremony.The Global Education and Business Forum hosted of a series of moderated, interactive Q+A panel discussions with topics focusing on Cambodia-related issues and more than 60 speakers taking part. Topics this year included:The Future of Agribusiness; Business Communication in the Digital Age; Domestic v International Business: Profit and Pitfalls; Attraction and Retention: Is there more to life than money?; Innovation-Driven Leadership; Cambodia’s Rising Stars; Trendsetters: The race for emerging consumer markets; Why is CSR good for business?; Rise of creative industries; Rise of intra-regional travel; Cambodia Property: Boom or Bust?; and Labour Mobility: Blessing or Curse?“The Global Alumni Convention again provided a unique opportunity and platform for alumni to gather, share experiences and leverage their knowledge with leaders in government, industry and civil society,” said GAC Convenor and IDP Education-ACE Country Director Mao Sreng.“It reflects the significant impact that alumni have on national human resource development and the recognition of it at the very highest levels of government and industry.” he added.The 3rd GAC attracted significant sponsors and supporters from the corporate sector, business chambers, alumni associations and media outlets. The GAC Secretariat thanks:· AIA (Cambodia) Life Insurance Plc. and IELTS as Platinum Sponsors;· ABA Bank and Australian Centre of Education (ACE) as Gold Sponsors;· The British Embassy, CPA Australia, ATHE Cambodia, Singapore Cambodia International Academy (SCIA) and Australian Migration Agents (AMA) as Silver Sponsors.· Sokha Hotel & Residence (Venue Partner), HRInc (Career Partner) and 360 Light and Sound (Light and Sound Partner)The Global Education & Career Expo ran in parallel to other activities of the GAC and showcased education and career pathways. Over 1,500 students, parents and the general public attended this free component of the event to visit more than 60 booths with 37 university representatives, local education institutes, scholarship programs, alumni associations and international businesses to seek advice on their future.“The Global Education and Career Expo gave students the opportunity to travel the world with us by talking to institutions from a variety of international destinations who helped them to consider what study abroad destinations might be right for them. We were very excited to welcome schools and universities from Cambodia, Singapore, Australia, New Zealand, the United Kingdom, Canada and the USA at the event” said Vantak Chheang, Study Abroad Manager at IDP Education (Cambodia).The Global Education & Career Expo also included a full schedule of panel discussions where over 40 employer, employee and institutional representatives presented on different education and career pathways in an interactive Q&A format.The GAC2017 concluded with a sparkling Global Alumni Reunion Gala Dinner attended by over 800 distinguished guests who also joined IDP Education in celebrating 25 years of operations in Cambodia.The GAC Secretariat looks forward to welcoming our sponsors, speakers and delegates back for the 4th GAC in 2018.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info...

Cambodia’s real estate sector growth is set to be pushed further through active efforts by the Government to increase the number of Chinese tourists entering the Kingdom. The second national forum on the "China Ready for Cambodia Tourism” policy initiative took place on the 31st October 2017.If you are interested in learning more information about the growth of Cambodia's tourism nationwide check out our tourism extract from our upcoming 2018 Cambodian Real Estate Foreign Investment Guide 2018 in Issue 5 of our Cambodia Real Estate Magazine. This white paper policy initiative aims to increase annual Chinese tourists visiting the Kingdom by outlining the initial steps to be taken by the Ministry of Tourism to facilitate Chinese tourism, including; encouraging the use of the Yuan currency, tailoring food and accommodation choices and providing Chinese signage and documents for visa processing Cambodia Tourism Minister, Thong Khon, stressed the country’s aim is  to attract two million Chinese tourists entering the Kingdom annually by 2020.Cambodia welcomed 3.5 million foreign tourists in the first eight months of 2017, up 11.8 percent from the previous year, of which 742,586 were Chinese tourists. According to the Minister, this represents a 44 percent increase of Chinese tourists- which is great news for the Kingdom’s economy-  especially for the real estate sector, which is buoyed by the continual influx of Chinese investment.Ms. Somnang Cheam, Director of Lucky Property Service, commented on the effect of Chinese tourism on the real estate sector: “When more Chinese tourists arrive in Cambodia, the real estate market will be more robust, with land prices rising in accordance with the demand for more affordable residential developments; such as condos, hotels, and guesthouses to meet the demand of rising Chinese tourists.” Ms. Somnang further believes this will also have a positive effect on Cambodia’s economy in the form of more job creation for Cambodian workers in the construction sector.Ms. Somnang continues: “However, landlords with properties for rent and properties for sale should be cautious with price setting. When there is more demand- especially from Chinese tourists who are looking for rooms for rent, landlords should not intentionally increase the price too high, which is affordable for the Chinese- but unaffordable for westerners or locals”Echoing Ms. Somnang’s view, Mr. Hay Ravy, Marketing and Sales Manager of Daily Realty Group, stated, “More Chinese tourists will lead to demand for more land to build hotels, resorts and guest houses - which means that land price surrounding key tourism hot spots will rise”. Mr. Hay believes employment opportunities will extend beyond workers in the construction sector and will create more job opportunities in the hospitality industry - in particular a demand for skilled Chinese speakers in hotels and resorts. “Rising Chinese tourists will also contribute to the nation’s revenue in the tourism sector,” Mr. Hay saidMr. Hay believes that the main reason Chinese tourists flock to Cambodia is due to the positive relationship between the two nations in many fields such as diplomacy, trade, and investment. Over the last five years, China has invested heavily in Cambodia’s real estate sector- particularly in Sihanoukville. China is dominating the real estate sector in the province, demonstrated by many major developments such as Blue Bay Condominium  and The SeaGate Suite which are underway.“Another crucial reason attracting Chinese tourists is the low cost of living in Cambodia. Compared to other nations such as South Korea, China and Japan, the prices of food, accommodation and transportation in these countries are five to six times higher than that in Cambodia” He further believes the world famous heritage sites of Angkor Wat, Preah Vihear, and Sambor Prei Kuk temple, as well as numerous natural attractions, also help to lure the Chinese to visit the Kingdom.”Mr. Jin Zhen, Sale Manager of EastLand Hotel and Apartments said: “Cambodia is a fast growing economy with good political stability. Political stability continues to attract both western and Chinese tourists to visit Cambodia.”Commenting on his own developments Mr. Zhen stated “EastLand has limited vacancy at the moment because we continue to provide excellent service to our customers. However growing Chinese tourists in the Kingdom has and will continue to further strengthen our belief that we are making the right investments in the country’s hospitality industry.”Tourism is one of the four pillars supporting the Cambodian economy. In 2016 the Kingdom received over five million foreign tourists including 830,000 Chinese and accumulating gross revenue of $3.4 billion, according to the Ministry of Tourism. This year, it is anticipated that Chinese tourists entering Cambodia will hit the one million mark.Further to this, three more Chinese airlines have commenced plans to enter Cambodia’s aviation market in the near future, in response to increasing demands of Chinese traveling for the purpose of conducting business, and tourists traveling to Cambodia.Mr. Eric Delobel, CEO of Cambodia Airports showed his enthusiasm regarding the new airlines: “Cambodia will welcome three more airlines which will lead to an increasing number of routes connecting both nations. The new proposed routes are Sihanoukville - Guangzhou, Sihanoukville - Kunming, Phnom Penh - Sanming and Phnom Penh- Shenzhen.” Mr. Delobel also commented that as it stands Chinese tourists account for approximately one-third of all inbound international air traffic throughout the Kingdom’s airports.With the Government already implementing critical steps of the “China Ready for Tourism” policy and enthusiasm across the board from developers and major players in the hospitality industry, it is likely that the goal of two million tourists per annum by 2020, is one that is both achievable and will have significant positive effects on the Kingdom’s economic and real estate development as a whole.Interested in learning more about Chinese investment? Check out our article: Chinese investors dominate the real estate market in Sihanoukville

After exhibiting at Cambodia’s Real Estate Show 2, The Parkway Investment Co., Ltd officially held their Grand Opening of commencing sales on the 18th November 2017 at their showroom The ceremony was great success, and honor to be presided by His Excellency Sar Kheng, the Cambodian Deputy Prime Minister. The Parkway is a joint venture between Cambodian Construction Firm, Parkway Investment Co., Ltd, and Chinese Construction firm, Nantong City Daxin Engineering (Cambodia) Co., Ltd. This new project aims to bring a modern condominium to the high potential area not to be overlooked- Toul Kork. At his speech at Saturday’s ceremony, Mr. Sour Sok Theng, CEO of Parkway Investment Co., Ltd, stated that, “Cambodia has overcome many obstacles, the country is progressing well and is rapidly becoming one of the countries with the largest potential amongst the developing countries in the world- especially in the real estate industry.”Parkway Investment Co., Ltd, is a leading development company and frequently cooperates with international construction companies to bring produce quality and luxurious projects; including projects Borey Rith and Parkway Square.Parkway Investment  Co., Ltd, established in 1994, has become renowned in Phnom Penh and focuses on developments such as building houses, commercial buildings, and multi-purpose international projects. The company has a vision to develop Phnom Penh into a clean, harmonious residential area that will continue to progress rapidly.Director of Nantong City Daxin Engineering, Mr. Ma He Jun said: "That the name “The Kingdom of Cambodia’  is not just a slogan that the Cambodian Government uses to promote the nation. For 15 years the average growth of Cambodia's economy has ranked number 6 in the world. We can see the prosperity of the Cambodian real estate market, especially in relation to China's economy and domestic policies. Cambodia is becoming the preferred investment destination  in the next coming 10 years.”“In addition, the‘One Belt One Road’ Policy initiative will push Cambodia's real estate prospects and lead to a remarkable increase’’ Mr. Ma also added that “Now is a great opportunity for investors to invest in Phnom Penh and The Parkway project is your best option”Parkway Investment Co., Ltd’s developments have gained strong attraction and have been supported by both local and international prospective buyers and investors. Mr. Ma believes “This is a great honor, yet it is also a big responsibility for the company”. Daxin Engineering is a renowned construction firm ranked number 200 in Chinese construction industry. The company has been operating for 43 years in China.The construction firm will cooperate with architecture team of China’s Sambok Chab Stadium, the construction team that was previously awarded “The Luban Prize for Construction Project”, the highest accolade in Chinese construction, as well as in cooperation with Parkway Investment Co., Ltd, to design The Parkway. This project is focused on reaching international standards of quality to satisfy the needs and provide comfort for valued customers.The Parkway’s Sales Manager, Ms. Ding LiLi has researched and analyses Cambodia’s real estate market.  Ms. LiLi said: “Buying property to obtain wealth is an investment strategy that is recognized by Chinese people, however, the value of property in China has significantly increased, therefore loan limitation policies, buyer limitation policies, and sale limitation policies in China are also increasing.  As a result, investing in Cambodia as well as in other countries in Asia is considered the wise option for Chinese investors”Ms. LiLi added that currently, “Phnom Penh’s real estate market development looks as same as Shenzhen did previously. Phnom Penh has emerged as an international market with a collection of multinational corporations and multi-international staff. Even though Phnom Penh has a wealth of apartments buildings, and more continuing and commencing construction to be completed in 2018 -  this still cannot meet the market demand”.Ms. LiLi has high expectations and has evaluated the location of The Parkway in Toul Kork and  said that “‘Toul Kork is popular for wealthy families and it is also a world popular tourism destination the  same as 16 districts in Paris, Roppongi in Tokyo, and Lujiazui in Shanghai.”She continued on by stating that “‘The growth rate of property value in Toul Kork is between 10% to 20%, apartment rental rate occupancy is higher than 90% and guaranteed rental return rate is expected from 8% to 10% - higher than apartments in Beijing and Shanghai. Therefore the  investment atmosphere is better than Shanghai, Beijing and Kwang Chov was 20 years ago”“Presently, the growth of value of residential houses in major areas in Phnom Penh starts with an average price at 25%, with rental return rates is anywhere between 8% to 15%. Therefore, if you miss out your investment in Shanghai, you must take the opportunity to invest in Toul Kork, Phnom Penh by choosing The Parkway”.Ultimately, The Parkway Investment Co., Ltd. would like to thank distinguished guests and the management and leadership of Royal Government of Cambodia. Due to this wise leadership, it brings a stable society with fast economic development as well as preferential policies offered by the Government. Therefore the investment atmosphere in Cambodia is more preferable, which will lead to encouraging homeowners to benefit as wellLocated in the finest city in Cambodia, in an elite location in the capital city of Phnom Penh, The Parkway is built to a luxurious world-class residential that you would never missed.Interested in investing in The Parkway, visit Realestate.com.kh now!

The  process of buying or renting business is often time consuming and may seem complex. However, by following a step by step process this can be simplified and help you ensure acquiring your new asset achieves your desired results - see Realestate.com.kh's Sale and Purchase of Businesses: A New Opportunity For Real Estate Agents? for more information.In Part 1 this week we will look at acquiring business property as a whole and the first steps in identifying the right business for you.Business Property in a Nutshell:Business property is a form of commercial property and is predominantly acquired to generate monthly income. There are many types of business properties available in the Kingdom including bars, hotels and restaurants-  amongst many other opportunities.Keep in mind buying a business property is different from buying residential property. This is due to the fact that when purchasing residential property, return on investment is seen in the coming years.  Purchasing a business will result in almost immediate monthly income. Therefore when looking to acquire a business property, there needs to be a proper analysis  based on the businesses current profitability, and opportunity for growth.Identifying the Right Business For You:For business acquisition, you need to define the type of business property that you're looking for. It is not a simple process of investing and waiting for capital appreciation to rise.The first step should always be research. If acquiring a business property is a new concept for you, talking to successful business owners and professionals in the industry can be a great starting point.Once you have a general idea of the type of business property you are looking to acquire, the research should then become more specific. This involves looking at short and long term prospects of the business property, current market supply and demand, and hiring an expert to ensure you have covered all bases.A simple example is if you were looking to buy or rent an established hotel business. The factors you should take into account include; looking at the reputation of both the hotel operator and brand, the duration of operation, current monthly overheads and average profit.From here you need to make a prospective analysis, as to the predicted annual occupancy rate, potential physical improvements to the facilities and how your investment’s profitability looks in the long run.Look out for next week where we take a further look into identifying the right business for you and the role that real estate agencies and lawyers play in this process!Interested in buying a business property? Check out the latest businesses for sale in Cambodia on Realestate.com.kh!

The Parkway’s official commencement of sales will be announced at their Opening Ceremony on Saturday 18th November 2017, presided by Cambodia's Deputy Prime Minister and Mayor of Phnom Penh.  Over 25 local media partners and a number of distinguished international guests will join the ceremony which is anticipated to be highly successful and an opportunity to celebrate the vision of coordinated Cambodian and Chinese developers; Parkway Investment Co., Ltd and Nantong City Daxin Engineering (Cambodia) Co., Ltd. Both of these established construction companies have materialised a vision to establish modern,  mixed-use condominium in the rapidly growing up-and-coming-area, Toul Kork.   The Parkway is strategically located in Street 273 in Toul Kork in a high potential area where is it is in proximity to quality infrastructure and key locations, and amenities  such as the CBD, Aeon Mall 2, and the airport.The total development of The Parkway comprises of three buildings. The first, has 36 floors; the second, has 26 floors; and the third consists of 30 floors. In total, there are  1,500 condominium units available, ranging in size from 45sqm to 135sqm, offering variety to potential investors.Parkway Investment Co., Ltd’s previous successful developments such as Borey Rith and Parkway Square has given the developers a solid international reputation, and their subsequent developers always gains attraction and supporting from prospective local buyers. The company believes that the Sales Opening Ceremony will attract more potential investors to learn about the great potential of this new development.Check out The Parkway project on Realestate.com.khFind the new development on Realestate.com.kh

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

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

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

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

Ultimate hallmark of industry excellence presented to the region’s finest developers as independently judged by peers and experts from around AsiaGuocoLand named the Best Developer (Asia) for being an exemplary leader in urbanisationSri Lanka, Mongolia, Hong Kong and Macau developers joined elite list of shortlisted nomineesSingapore’s former master architect-planner Dr Liu Thai Ker delivered the keynote addressSINGAPORE – 8 November 2017The PropertyGuru Asia Property Awards 2017, presented by Kohler, has finally reached its grand finale as the best in Asian real estate from Sri Lanka to Macau were honoured at the biggest and most respected industry awards gala presentation held on Wednesday evening (8 November) at the Sands Expo and Convention Centre at Marina Bay Sands in Singapore.It was a glittering culmination of the year-long competition that started in Cambodia, journeying across Asia over the past year, and with Singapore’s domestic winners announced the previous evening.The event recognised real estate industry excellence across Asia, based on the careful assessment of an independent grand final jury comprising the 11 chairmen and woman of the Asia Property Awards.Freshly-crowned Singaporean champion GuocoLand, developer of the award-winning integrated development Tanjong Pagar Centre, was hailed the Best Developer in Asia for being a leader in urbanisation, mixed-use public spaces and sustainable development.“One of the Singapore’s leading developers, GuocoLand believes that every project should possess ‘poetic ambience’ and offer a lifestyle that’s comfortable and usable. GuocoLand achieves its goal by incorporating well-designed public spaces, sustainable and green amenities, and choosing the most premium locations for the benefit of consumers,” the grand final jury said.Bon Estates Sdn Bhd, who won their local award in August in Kuala Lumpur, collected the second biggest regional award for Best Boutique Developer (Asia). Bon Estates is also the lone regional winner from Malaysia at the grand final ceremony.Indonesia sent the largest representation to the grand final, collecting a total of 22 accolades including Best Retail Architectural Design (Asia) for PIK Avenue by Agung Sedayu Group, and Best Green Development for Sequis Tower by FARPOINT.The overall tally for the finalist countries is as follows: Singapore (17 total, including three regional), Vietnam (13, two regional), the Philippines (11, two regional), Malaysia (8, 1 regional), Thailand (7, two regional), Sri Lanka (8), Cambodia and Myanmar (7 each), Hong Kong (6, one regional), and Macau (6).Macau also ties Singapore with three regional titles for MGM COTAI, a world-class, integrated hotel resort development along the famous Cotai Strip, taking home the Best Universal Design Development (Asia) award, a new category this year to reward a project that is designed for and easily accessible by all kinds of people regardless of age, size, gender or capabilities.Presenting 17 regional awards for the Best in Asia, and 33 domestic awards for new participating markets Mongolia, Sri Lanka, Kong Kong and Macau, the 2017 edition of the PropertyGuru Asia Property Awards Grand Final has been dubbed “bigger, better and stronger,” reflecting the Asian real estate sector.The two-part exclusive gala evening started with an international networking cocktail reception to welcome overseas guests and VIPs that included diplomats: Cambodian Ambassador His Excellency Mr. Nguon Sokveng; Sri Lanka’s Deputy High Commissioner, The Honourable Mr O. L. Ameer Ajwad; and Vietnam’s The Honourable Mr Dinh Hoang Linh, Minister Counsellor and Deputy Chief of the Mission.Singapore’s legendary former master architect-planner Dr Liu Thai Ker, who gave the opening remarks to the two-day PropertyGuru Asia Real Estate Summit that preceded the grand finals, delivered the keynote address to inspire developers from around the region, which boasts some of the world’s most dynamic property markets with fast-growing urban population and migration.“As an architect-planner, it is my belief that just as no man is an island, and no property project is an island. Projects function and look better if they are well integrated with the urban fabric,” he said, encouraging developers and governments to promote quality housing, reliable infrastructure and integrated communities that can support growth.”Now in its seventh year, the 2017 grand final event also served as an introduction for the next stage of the PropertyGuru Asia Property Awards, which will be joined by developers from Japan and South Korea. Sri Lanka’s inaugural domestic gala dinner in Colombo has already been set in July 2018.The entire judging process was strictly supervised by BDO, the world’s fifth largest network of accounting and auditing firm, including actual site inspections and intensive panel deliberations.Terry Blackburn, founder and managing director of the Asia Property Awards, said: “PropertyGuru believes in the transformative power of real estate and the importance of property developers in shaping the Asian century. The iconic developments that were rewarded represent the best real estate in Asia. Real estate that inspires, real estate that transforms urban landscapes, real estate that redefines what hospitality, retail and office space means in the 21st century, not just for Asia, but for the whole world.”He added: “Most importantly, real estate that gives residents of Asian countries more choice of quality homes than they have ever had before,” reiterating PropertyGuru’s role as Southeast Asia’s leading online property group that revolutionised the home-buying process using consumer-friendly technology that helps people make confident property decisions.The seventh annual PropertyGuru Asia Property Awards Grand Final 2017 was supported by title sponsor Kohler; co-sponsors Regus, Mitsubishi Electric, and POSCO; official portal partner PropertyGuru.com.sg, Singapore’s No. 1 property site; official portal partner Lankapropertyweb.com; official South Korea newspaper Korea Economic Daily; media partners Southeast Asia GLOBE, Realestate.com.kh, InDesign Media Asia Pacific, and PropertyGuru Property Report, Asia’s leading luxury real estate, architecture and design publication; supporting association European Chamber of Commerce Singapore; and official supervisor BDO, the world’s fifth largest auditing and accountancy firm, led by co-managing partner Paul Ashburn.The Grand Final Jury: Sorn Seap, founder/director, Key Real Estate Co., Ltd (CAMBODIA); Lindsay J. Orr, retired country head, Jones Lang LaSalle Philippines, Inc. (PHILIPPINES); Thien Duong, managing director, Transform Architecture (VIETNAM); Richard Emerson, managing director, Emerson Real Estate (ERE Myanmar Ltd) (MYANMAR); Prem Kumar, executive director, Jones Lang Wootton (MALAYSIA); Suphin Mechuchep, managing director, Jones Lang LaSalle (Thailand) Limited (THAILAND); Hendra Hartono, CEO, PT. Leads Property Service Indonesia (INDONESIA); Minkqee Tan, chief designer and architect, Minkke Architects Pte Ltd (SINGAPORE); Paul Tse, president, board of directors, Macao Association of Building Contractors and Developers (HONG KONG & MACAU); and Dr. Nirmal De Silva, director and CEO, Paramount Realty (SRI LANKA).REGIONAL WINNERS: THE BEST IN ASIAPropertyGuru Asia Property Awards Grand Final 2017DEVELOPER AWARDS (ASIA)Best Developer (Asia)Agung Sedayu Group – IndonesiaAnanda Development Public Company Limited – ThailandBlue Ocean Group of Companies – Sri LankaBorey Peng Huoth Group – CambodiaCapitaLand Vietnam – VietnamGuocoLand – Singapore – WINNERMarga Landmark – MyanmarMegaworld Corporation – PhilippinesTropicana Corporation Berhad – MalaysiaBest Boutique Developer (Asia)Bon Estates Sdn Bhd – Malaysia - WINNERLian Beng Group Ltd – SingaporePT Supermal Karawaci – IndonesiaDEVELOPMENT AWARDS (ASIA)Best Condo Development (Asia)Capital TRUST Residencies - Vajira Road by Capital TRUST Residencies (Pvt) Ltd – Sri LankaHigh Park Residences by Fernvale Development Pte Ltd – SingaporeLangham Residence by Agung Sedayu Group – IndonesiaPanorama Nha Trang by Nha Trang Bay JSC – Vietnam – WINNERSky Oasis by yoo by Concordia Investment Properties Limited – MacauThe Central by Marga Landmark – MyanmarTropicana Residences by Tropicana Corporation Berhad – MalaysiaTwin Peaks by K. Wah International Holdings Limited – Hong KongBest Housing Development (Asia)Aster 2 – Double Storey Semi-Detached House by UMLand Seri Austin – MalaysiaBaan Sita Wan by Charn Issara Development PCL – Thailand – WINNERBelgravia Villas by Fairview Developments Pte Ltd (a unit of Tong Eng Group) – SingaporeEvelyn Gardens Residential Neighbourhood, ParkCity Hanoi Township by Vietnam International Township Development JSC – VietnamGrand Star Platinum by Borey Peng Huoth Group – CambodiaGreen Valley by Home Lands Skyline (Pvt) Ltd – Sri LankaJakarta Garden City (Cluster River Garden) by PT. Modernland Realty Tbk – IndonesiaBest Mixed Use Development (Asia)8 Forbes Town Road by Megaworld Corporation – Philippines15 Middle Road by Henderson Land Development Co. Ltd. – Hong Kong – WINNERDistrict 8 Mixed Use by Agung Sedayu Group – IndonesiaMontAzure by MontAzure – ThailandOne Galle Face by Shangri-La – Sri LankaTanjong Pagar Centre by GuocoLand – SingaporeThe Central by Marga Landmark – MyanmarTropicana Metropark by Tropicana Corporation Berhad – MalaysiaBest Hotel Development (Asia)Courtyard by Marriott Phnom Penh by Khou Investment Co., Ltd – CambodiaHilton Garden Inn by PT Supermal Karawaci – IndonesiaLangham Hotel Jakarta by Agung Sedayu Group – IndonesiaMGM COTAI by MGM China Holdings Limited – Macau – WINNERSofitell Singapore City Centre by GuocoLand – SingaporeWynn Palace Cotai by Wynn Resorts, LimitedBest Office Development (Asia)Alliance Global Tower by Megaworld Corporation – PhilippinesDistrict 8 Office Complex by Agung Sedayu Group – IndonesiaFYI Center – For Your Inspiration Workplace by Golden Land Property Development PLC – ThailandGuocoTower by GuocoLand – Singapore – WINNERProposed Show Room & Office Complex at No 288, Sri Jayawardanapura MW, Kotte, Rajagiriya, Sri Lanka by D. P. Jayasinghe Group of CompaniesThe Vanguard by Phnom Penh City Center – CambodiaBest Retail Development (Asia)Robinsons Galleria Cebu by Robinsons Land Corporation – Philippines – WINNERTanjong Pagar Centre (Retail) by GuocoLand – SingaporeThe Central by Marga Landmark – MyanmarThe Oxygen by CapitaLand Vietnam – VietnamBest Universal Design Development (Asia)15 Middle Road by Henderson Land Development Co. Ltd – Hong KongMGM COTAI by MGM China Holdings Limited – Macau – WINNERDistrict 8 Mixed Use by Agung Sedayu Group – IndonesiaPaya Lebar Quarter by Lendlease – SingaporeSt. Mortiz Private Estate by Megaworld Corporation – PhilippinesThe Central by Marga Landmark – MyanmarThe ZEN Residence (Gamuda Gardens) by Gamuda Land – VietnamBest Green Development (Asia)15 Middle Road by Henderson Land Development Co. Ltd – Hong KongArthaLand Century Pacific Tower by ArthaLand – PhilippinesFYI Center – For Your Inspiration Workplace by Golden Land Property Development PLC – ThailandSeasons Avenue by CapitaLand Vietnam – VietnamSequis Tower by FARPOINT – Indonesia – WINNERSky Oasis by yoo by Concordia Investment Properties Limited – MacauTanjong Pagar Centre (Retail) by GuocoLand – SingaporeTropicana Gardens by Tropicana Corporation Berhad – MalaysiaDESIGN AWARDS (ASIA)Best Condo Architectural Design (Asia)Achilleion by Blue Mountain – Sri LankaAshton Residence 41 by Ananda Development Public Company Limited – Thailand – WINNERBW Premier Collection BluPhere Pattaya by Habitat Group Co., Ltd. – ThailandCOO Residence by Couture Homes Properties Limited – Hong KongGold Coast Sea View Apartment, developed by Agung Sedayu Group and designed by PT Ong and Ong – IndonesiaIsola@KLCC by O&C Resources Berhad – MalaysiaLangham Residence by Agung Sedayu Group – IndonesiaOne Uptown Residence by Megaworld Corporation – PhilippinesPanorama Nha Trang by Nha Trang Bay JSC – VietnamSky Oasis by yoo by Concordia Investment Properties Limited – MacauSpottiswoode Suites by Spottiswoode Development Pte Ltd (a JV between Lian Beng Group Ltd & Centurion Properties Pte Ltd) – SingaporeStars of Kovan by Property Enterprises Development (S) Pte Ltd – SingaporeThe Leaf Residence by IME Property Co., Ltd – MyanmarWang Residence, developed by Citicon Propertindo and designed by PT Ong and Ong – IndonesiaBest Housing Architectural Design (Asia)Evelyn Gardens Residential Neighbourhood, ParkCity Hanoi Township by Vietnam International Township Development JSC – Vietnam – WINNER Issara Residence Rama 9 by Charn Issara Development PCLResidence90 by Phnom Penh City Center – CambodiaBest Residential Interior Design (Asia)Capital TRUST Residencies - Vajira Road by Capital TRUST Residencies (Pvt) Ltd – Sri LankaDistrict 8 Apartment by Agung Sedayu Group – IndonesiaFeliz en Vista by CapitaLand Vietnam – VietnamLangham Residence by Aguing Sedayu Group – IndonesiaMandarin Residences by PT Bali Ragawisata – IndonesiaStars of Kovan by Property Enterprises Development (S) Pte Ltd – Singapore - WINNERThe Leaf Residence by IME Property Co., Ltd – MyanmarThe Sapphire Bloc by Robinsons Land Corporation – PhilippinesU Residence – Biz Lofts by PT Supermal Karawaci – IndonesiaBest Hotel Architectural Design (Asia)District 8 Oakwood Premier & Studios by Agung Sedayu Group – IndonesiaJetwing Surf, Pottuvil Point by Balmond Studio – Sri LankaHotel Mercure Pantai Indah Kapuk by Agung Sedayu Group – IndonesiaMGM COTAI by MGM China Holdings Limited – MacauNovotel Singapore on Stevens, Mercure Singapore on Stevens by Oxley Holdings Limited – SingaporeWynn Palace Cotai by Wynn Resorts, LimitedBest Office Architectural Design (Asia)ArthaLand Century Pacific Tower by ArthaLand – PhilippinesOxley Tower by Oxley Holdings Limited – SingaporeSequis Tower by FARPOINT – IndonesiaBest Retail Architectural Design (Asia)PIK Avenue by Agung Sedayu Group – IndonesiaStars of Kovan by Property Enterprises Development (S) Pte Ltd – SingaporeThe EDGE by Phnom Penh City Center – CambodiaThe ParkCity Club Hanoi, ParkCity Hanoi Township by Vietnam International Townshop Development Joint Stock Company – VietnamUptown Mall by Megaworld CorporationBest Landscape Architectural Design (Asia)Grand Star Platinum by Borey Peng Huoth Group – CambodiaHigh Park Residences by Fernvale Development Pte Ltd – SingaporeLavila by Kien A Corp – VietnamMandarin Residences by PT Bali Ragawisata – IndonesiaNova Serai Phù Sa by Novaland Group – VietnamPaya Lebar Quarter by Lendlease – SingaporeThe Estate by Bon Estates Sdn Bhd – MalaysiaThe Florence by Megaworld Corporation – PhilippinesThe ParkCity Club Hanoi, ParkCity Hanoi Township by Vietnam International Townshop Development Joint Stock Company – VietnamTwin Peaks by K. Wah International Holdings Limited – Hong KongUptown Mall by Megaworld Corporation – PhilippinesDOMESTIC WINNERS & HIGHLY COMMENDEDPropertyGuru Asia Property Awards (Macau) 2017DEVELOPMENT AWARDS (MACAU)Best Condo DevelopmentWINNER: Sky Oasis by yoo by Concordia Investment Properties LimitedBest Integrated Hotel Resort DevelopmentWINNER: MGM COTAI by MGM China Holdings LimitedBest Luxury Hotel DevelopmentWINNER: Wynn Palace Cotai by Wynn Resorts, LimitedDESIGN AWARDS (MACAU)Best Condo Architectural DesignWINNER: Sky Oasis by yoo by Concordia Investment Properties LimitedBest Contemporary Hotel Architectural DesignWINNER: MGM COTAI by MGM China Holdings LimitedBest Luxury Hotel Architectural DesignWINNER: Wynn Palace Cotai by Wynn Resorts, LimitedSPECIAL AWARDS (MACAU)Best Green DevelopmentWINNER: Sky Oasis by yoo by Concordia Investment Properties LimitedBest Universal Design DevelopmentWINNER: MGM COTAI by MGM China Holdings LimitedHIGHLY COMMENDED: Sky Oasis by yoo by Concordia Investment Properties LimitedHIGHLY COMMENDED: Wynn Palace Cotai by Wynn Resorts, LimitedDOMESTIC WINNERS & HIGHLY COMMENDEDPropertyGuru Asia Property Awards (Hong Kong) 2017DEVELOPMENT AWARDS (HONG KONG)Best Condo DevelopmentWINNER: Twin Peaks by K. Wah International Holdings LimitedHIGHLY COMMENDED: COO Residence by Couture Homes Properties LimitedBest Mixed Use DevelopmentWINNER: 15 Middle Road by Henderson Land Development Co. Ltd.DESIGN AWARDS (HONG KONG)Best Condo Architectural DesignWINNER: COO Residence by Couture Homes Properties LimitedHIGHLY COMMENDED: Twin Peaks by K. Wah International Holdings LimitedBest Landscape Architectural DesignWINNER: Twin Peaks by K. Wah International Holdings LimitedHIGHLY COMMENDED: 15 Middle Road by Henderson Land Development Co. Ltd.SPECIAL AWARDS (HONG KONG)Best Green DevelopmentWINNER: 15 Middle Road by Henderson Land Development Co. Ltd.HIGHLY COMMENDED: Twin Peaks by K. Wah International Holdings LimitedBest Universal Design DevelopmentWINNER: 15 Middle Road by Henderson Land Development Co. Ltd.HIGHLY COMMENDED: Twin Peaks by K. Wah International Holdings LimitedDOMESTIC WINNERS & HIGHLY COMMENDEDPropertyGuru Asia Property Awards (Mongolia) 2017DEVELOPER AWARDS (MONGOLIA)Best DeveloperWINNER: NCD GroupBest Boutique DeveloperWINNER: Turelt LLCDEVELOPMENT AWARDS (MONGOLIA)Best Apartment DevelopmentWINNER: Olympic Residence by Asia Pacific Investment PartnersHIGHLY COMMENDED: Parkview Residence by Jiguur Grand GroupBest Hotel DevelopmentWINNER: Red Rock Resort and Conference Center by Undur Ulaan Travel LLCSPECIAL AWARDS (MONGOLIA) Special Recognition in CSRWINNER: Jiguur Grand GroupSpecial Recognition in Sustainable DevelopmentWINNER: NCD GroupDOMESTIC WINNERS & HIGHLY COMMENDEDPropertyGuru Asia Property Awards (Sri Lanka) 2017DEVELOPER AWARD (SRI LANKA)Best DeveloperWINNER: Blue Ocean Group of CompaniesDEVELOPMENT AWARDS (SRI LANKA)Best Condo Development (Colombo)WINNER: Capital TRUST Residencies - Vajira Road by Capital TRUST Residencies (Pvt) LtdHIGHLY COMMENDED: Treasure Trove Residencies by Home Lands Skyline (Pvt) LtdBest Residential Development (Greater Colombo)WINNER: Green Valley by Home Lands Skyline (Pvt) LtdHIGHLY COMMENDED: Grand Capital Residencies - Thalawathugoda by Grand Capital ResidenciesBest Office DevelopmentWINNER: Proposed Show Room & Office Complex at No 288, Sri Jayawardanapura MW, Kotte, Rajagiriya, Sri Lanka by D. P. Jayasinghe Group of CompaniesHIGHLY COMMENDED: Proposed Show Room & Office Complex at No 717, Baseline Road, Colombo 09, Sri Lanka by D. P. Jayasinghe Group of CompaniesBest Mixed Use DevelopmentWINNER: One Galle Face by Shangri-LaDESIGN AWARDS (SRI LANKA)Best Condo Architectural DesignWINNER: Achilleion by Blue MountainHIGHLY COMMENDED: King Alfred Palace by Blue Ocean Group of CompaniesBest Hotel Architectural DesignWINNER: Jetwing Surf, Pottuvil Point by Balmond StudioBest Residential Interior DesignWINNER: Capital TRUST Residences - Vajira Road by Capital TRUST Residencies (Pvt) LtdHIGHLY COMMENDED: King Alfred Palace by Blue OceanBest Office Interior DesignWINNER: Huawei Technologies Lanka Company Pvt Ltd by Widac Commercial Interiors (Pvt) Ltd.HIGHLY COMMENDED: Regus by Widac Commercial Interiors (Pvt) Ltd.SPECIAL AWARDS (SRI LANKA)Special Recognition in CSRWINNER: Home Lands Skyline (Pvt) LtdSpecial Recognition in Sustainable DevelopmentWINNER: Blue Ocean Group of CompaniesBEST OF SRI LANKA AWARDSBest Condo Development (Sri Lanka)WINNER: Capital TRUST Residences - Vajira Road by Capital TRUST Residencies (Pvt) LtdBest Housing Development (Sri Lanka)WINNER: Green Valley by Home Lands Skyline (Pvt) LtdFor more information about the PropertyGuru Asia Property Awards, email info@asiapropertyawards.com or visit: AsiaPropertyAwards.comFind out the best real estate news on Realestate.com.khTake 2 minutes to complete our survey and win and IPhone 8!

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