The Cambodia Constructors Association (CCA) will soon go on a study tour to meet with the Building Construction Authority (BCA) of Singapore, to visit and learn more about the Building Information Modeling (BIM) on 7th to the 9th of September, 2016. Interested companies may register with the CCA secretariat no later than 20th of August 2016.Proposed Program Itinerary - 8 September 2016 (Thursday):If you or your company interested in joining this tour with the Cambodia Constructors Association (CCA), please contact us Mr. Vutha today on Tel: (855) 60 888 944 | 10 94 76 40 or Email: vuthatim01@gmail.com

The Pokemon augmented-reality smartphone app has become an online phenomenon the world over. It has caused half the world to stop what they are doing and chase mythical creatures on their smartphones, with crazy outcomes... It has led to car crashes, huge public gatherings, trespassing, accidental deaths and even robberies. But lately, it has also influenced the real estate market. Some players are even believing that the sighting of a pokemon might just increase the value of their property for sale or the leasing rate for their apartment for rent…According to a CNBC News report, US real estate agent Jay Glazer, listing a property near Manhattan's Washington Square Park, included in his advertisement for the property that, "I'm fairly certain there is a PIKACHU at this open house, don't miss it." According to News.com.au, Realestate.com.au, Australia’s largest property portal, has also been struck with Poke-fever, with listing descriptions such as this: “Just across the road is a huge park with sporting facilities — and we’ve even spotted some rare Pokemon!” for a property listing in Townsville’s Cranbrook.A two-bed apartment for rent at Playfield Street in Brisbane’s Chermside is said to have an “easy five-minute walk to the busway” and “close by to Marchant Park — Pokemon Go Central”, claims the agent.And according to an atlasobscura.com report, Craigslisters around the world have also begun using their relative proximity to Pokemon “gyms” and “PokéStops” as a marketing message to catch potential new roommates. For example, a couple from San Francisco have an available apartment for rent near an "awesome Pokemon spawn area!", while a Cincinnati property "has pokestops in range."How long until an apartment for rent within the radius of Pokemon stops and gyms command higher rental prices than those without? It seems this crazy question may actually soon be a reality is some of the world's real estate markets under the trance of the new Pokemon Go phenomenon.Rob Levy from Re/Max in Townsville, Australia, notes that, “Especially among the under-35 first home buyers market, yes... When you have 300 identical houses to choose from, why wouldn’t you choose one near a PokeStop?”Will Cambodia be next to fall under the Pokemon spell? If it is, find out what Pokemon are hiding away in your home and you might just get a better price when it comes time to put it on the market...

Realestate.com.kh caught up with Andre de Jong, Managing director of Bosch in Cambodia and Chairman of the Real Estate and Construction Committee of the EuroCham Cambodia, to find out what the European chamber of commerce in Cambodia is currently doing to assist the progress of the real estate and construction industry.In this interview, we find out more about the initiatives being pursued to develop Cambodia’s green building sector.Tell me more about Eurocham's green building focus? Why is this directive so important in a nation such as Cambodia?Green building is currently still under the Green Business Committee which is one of the other working groups of the EuroCham. However, the RECC has recently started to work more closely with the Green Business Committee on this topic. We have two members from the Green Business Committee who are actively joining us.Green building has become an important topic for many countries. In Cambodia, although the concept is still new, there has been a growing interest among not only foreign investors but also local developers to ‘go green’.Recently, there is a worldwide rollout of a new green building certification called the EDGE which is available for free in 125 markets including Cambodia. The concept would be even more receptive and attractive if the government granted tax benefits to developers who adopt the green building processes.The green building concept is becoming more relevant and essential globally. We have witnessed the impact of the climate change over the last decades with the recent years becoming more significant especially in Cambodia where there was a dramatic increase in average temperature, a longer dry season and more rainfall during the wet season. It is important to focus on regenerative solution for the green building that includes green architecture, energy-efficient solutions, and smart technologies that save energy. Smart technologies will play an important role in this development.With the upcoming rise of the Internet of Things, especially in the Asia Pacific, we expect to see more adoption of IoT solutions in the green building process. Learn more about Eurocham’s Real Estate and Construction Committee (RECC) now!Learn more about the real estate and construction industries in our comprehensive Cambodia investor guides!

The Realestate.com.kh team caught up with Joe Phelan, Head of Personal financial Services at Hong Leong Bank Cambodia, to learn more about Hong Leong Bank’s home loaning criteria and incentives.What are Hong Leong’s criteria for new home loans and home loaners? “You need to have a minimum income level of US$10,000 per annum and hard title collateral. This collateral can either be the property you are looking to buy or an existing property that either you or your direct family member currently owns. The property can also be either residential or a mix of residential and commercial, and we can lend up to 70% of this property value.” Apply for a home loan with Hong Leong NOW!Who can borrow from Hong Leong Cambodia?“Any local or foreigner with a permanent and consistent income stream in Cambodia, whether it be from salary, your own business or property rental income.”What are the lending limits for Hong Leong Cambodia home loans?“The minimum criteria is $10,000 for Home Equity Loans and $20,000 for all other mortgage products - and there is no maximum limit.”What other services does Hong Leong provide for home buyers?“We provide our free internet banking service and soon to be free mobile banking app as well,” notes Phelan, “so you can keep a close eye on your finances whenever and wherever you like, including your home loans. On top of this, you may automatically qualify for our Priority Banking package which also brings numerous free and discounted lifestyle benefits like golf, brunches at 5 star hotels, spa treatment and much more.”What other types of loans are available at Hong Leong Cambodia?“Our mortgage products are home loan, home equity loan, home investment loan and commercial property loan. Other than this, at the moment we have a full suite of business loans to cater for our business customers.”There are many Banks in Cambodia - Why choose Hong Leong Bank?“Our customer experience,” says Phelan, “we believe we have the most experienced mortgage lenders in the market that will be able to support your, ‘for some’, once in a lifetime dream home purchase. It is a big decision in anyone’s life to purchase a home, and we can make this process as easy and smooth as possible, ensuring we have provided the best financial solution for you.”Strong footprint in Asia. Formed over 100 years ago in Asia, the bank has a number of subsidiaries in Malaysia, Singapore, Vietnam, Hong Kong and China. You can trust Hong Leong bank.The right staff with a personalised focus. “This is the key to our success”, says Joe Phelan, Head of Personal Financial Services at Hong Leong Bank, “We believe we have the right senior staff who are dedicated to service and know how to satisfy their customer’s needs. Our priority account managers know their customers 100%”.Tailored financial products for SMEs. “Consumer is king and we need to look after business owners. We have a focus on SMEs to help you to grow your wealth,” says Phelan.Digital banking “With our user-friendly mobile app to be launched soon to complement our existing Internet Banking platform, we will be able to offer the best digital banking service to our priority customers in Cambodia.with a simple user-interface, more functions and ecommerce capabilities”.   Take your banking to the next level with Hong Leong Bank.Inquire today to find out more!

Realestate.com.kh caught up with Andre de Jong, Managing director of Bosch in Cambodia and Chairman of the Real Estate and Construction Committee of the EuroCham Cambodia, to find out what the European chamber of commerce in Cambodia is currently doing to assist the progress of the real estate and construction industry.Tell us about the role of the Eurocham real estate and construction committee generally? When was the committee formed? What is your mission? Who are your members? And what are some of your key activities?The Real Estate and Construction Committee (RECC) is a working group under the EuroCham Cambodia. The committee was formed in early 2014. The RECC advocates the improvement of safety and quality of construction and building, urban planning, and land management in Cambodia through events, sharing information, and fostering networking.The RECC is open to companies/individuals that provide services or have strong interest in the construction or real estate industries in Cambodia.In 2014, the RECC organized its first Real Estate and Construction Forum at the Sofitel hotel in Phnom Penh on the topic of the vision for growth of the real estate and construction industries in Cambodia.In May this year, the RECC together with Cambodia Constructors Association (CCA) hosted another Construction Forum focusing on construction and building safety.Besides members’ meetings and networking, the individual working groups of the RECC are also working with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in their specific fields of specialization.What successes have you experienced since your formation?The first Real Estate and Construction Forum that the RECC organized was a success. The event gathered over 200 participants, about 40 of whom were representatives from MLMUPC. As a result of the forum, the RECC has become a partner of the Ministry which subsequently allows both parties to collaborate more closely on information sharing and policy development. The forum also led to a MoU signing between the RECC and the Ministry in mid-2015 to improve legislations related to real estate and construction topics such as workplace safety. It also focuses on urban heritage concepts, spatial planning, and coastal development.What are the most important policy directives that the Eurocham construction and real estate committee are pursuing currently? And why are these directives of such priority?The RECC is divided into three pillars: Real Estate, Construction, and Urban Planning and Land Management. The MLMUPC has similar pillars, of which Real Estate is under the cadastral department.For the Construction working group, the main goal is for Cambodia to derive a building code that consists of a number of set regulations and rules for building and construction with a strong focus on safety standards. These include, for example, worksite safety, fire safety, health and safety of workers, and structural design of buildings. The RECC has also been working alongside the government on Prakas on an advisory level. The committee is also pushing to improve the Prakas related to health and safety in Cambodia.The Real Estate working group focuses on property measurement and valuation, as well as investor confidence. There are some ambiguities in the current regulations that this working group is focusing on. The goal is to minimize investment risks due to regulations and improve investor confidence. Moreover, we are advocating to have one agreed property measurement system by adopting an existing system from another country. The realization of this system will help to tackle uncertainty or deception in property measurement and valuation.The Land Management and Urban Planning committee has been actively working alongside the government. We are making good progress on an urban heritage study, coastal development planning, and spatial planning in a designated province. The expertise from this committee, including our French experts, is paramount here to support the royal government to achieve positive results. Learn more about Eurocham’s Real Estate and Construction Committee (RECC) now! Learn more about the real estate and construction industries in our comprehensive Cambodia investor guides!

Cambodia, despite a turbulent modern history, is now respected as one of the most dynamic emerging markets in Southeast Asia. Along with this improvement in its economic stability, many expats who have families and children are also moving into properties in the country.Fortunately for them, the heightened sense of economic importance has also paved the way for the education sector to restructure and enforce new standards of quality. According to the World Bank’s census, the rate for net admission for primary school rose from 81 percent to 95.3 percent in 2014 in Cambodia. But higher education and universities in Cambodia aren’t so far behind in growth either, having thousands of people graduating each year from over 162 institutions.However, expatriates – just like in any other country – should still be careful to consider different factors before enrolling their children in any school. So, here are a few things you might want to consider first before choosing which place to send your kids.Location: There are plenty of international schools in Cambodia, but international schools in Cambodia are more focused on the Phnom Penh area because this is where a large concentration of expatriates are located. But there are also a couple of international schools in other parts of the country that you can take a look at if you’re establishing your temporary home outside the capital, such as the International School of Siem Reap and the Ecole Française de Sihanoukville. It’s important to choose the right school with an accessible location so that children will find it convenient to come to and from your home, given that Phnom Penh can experiences some serious congestion around peak travel times. It also helps in terms of attending school gatherings where parents are required to go.Future-proofing: It’s important to note that public schooling in Cambodia is not something that’s offered to expat students. This is why you’ll see most of expat children going to international schools. But before choosing International schools in Cambodia, you may have to carefully plan out the next few months or years of your life first. It would be helpful to know whether or not you’ll be staying for long and where you’ll be moving to in the near future, because different schools will offer varying curriculums. Some of them might not be accepted in other countries you plan on calling your next home. So, if your family is thinking of moving to Canada or a place with a similar educational system, the Canadian International School has adopted the Canadian K-9 Curriculum in English which is approved and regulated by the province of Alberta to make sure that the school maintains the quality that is consistent to the education given in Canada. Northbridge International School, iCAN British International School and the International School of Phnom Penh (ISPP) are some other Phnom Penh institutions that import international standards of teaching and offer universally accredited qualifications. By ensuring that your child undergoes a curriculum that is compatible with the next country you’ll be travelling to, you’ll make transitions much easier and you’ll also avoid getting into complications such as repeating grade levels. This is also applicable for expatriate secondary students who are thinking of attending universities around the world.Qualifications and Credentials: Some institutions will claim international status but will not have the resources and facilities to prove it. So, taking your time and asking officials from schools should be a vital part in your decision-making process. This way, you can see the facilities and safety standards and also interview them about the experience and background of their teachers. Because international schools in Cambodia are mostly home to children of different cultures, one thing you can look for is a school that has teachers with the necessary experience to lead a multicultural class. On top of checking the school’s physical infrastructure, do a bit of online research and see if the school’s been accredited by any international regulating bodies. An example would be the Northbridge International School which has the Western Association of Schools and Colleges international accreditation.Skills Training: The iCAN British International School is one of the more popular international schools in Cambodia as well because it offers something that’s also essential for children’s growth. More than the academic aspect, they also focus on integrating skills development through their Early Years and Foundation Stage program where students are able to enhance their skills inside and outside their classrooms. Expatriates will find this as an attractive quality because it offers their children something to do while they’re in another country. At this point, they not only develop skills but also friends that will have the same interests as them. Cost: Cost is a vague topic with international schools in Cambodia as tuition fees for different institutions differ widely. Application fees, enrollment fees and capital fees may also vary. These can be attributed to many factors such as facilities, curriculum, miscellaneous charges, quality of education and the competence of its staff. There are schools out there such as Footprints International School which offers great quality but inexpensive schooling for expatriate students up until the 10th grade but may have a different curriculum than what your children may need. So, while institutions that charge more may give you the best education and curriculum, it is important to note that there are inexpensive alternatives that you can consider as well. However, for universally accredited schools you can expect yearly tuition fees anywhere from $5000 per year, up to $30,000.Requirements and Inclusions: In terms of cost, it’s also important to check out what you get in return for the tuition you pay. Some schools offer just the facilities but not resources like textbooks, while others may offer resources but not facilities such as a computer laboratory. A good example would be the International School of Phnom Penh (ISPP) which has a “Bring Your Own MacBook” policy which requires students in the 6th to 11th grade to have their own MacBook. Since “ISPP is a non-profit parent-owned association and relies almost completely on fee income to assure sufficient resources for the school's operation,” there are certain expenses that parents would have to shoulder. These are just a few basic things you need to look at during your decision-making process, but there are other things you can add to the mix to help you narrow the list down even further. Take your time, and make sure you choose the best school for your children’s needs.Learn more about living in Phnom Penh trhough Realestate.com.kh now!

Recently, Century 21 Cambodia released it’s Condominium Market Report H1 2016 in Phnom Penh at the Raffles Le Royal Hotel.The release was well attended by various partners, investors, and Century 21 agency managers from across the nation. In the speech of Mr. Kuy Vat, Chairman of Century 21 Cambodia, he mentioned his appreciation of Realestate.com.kh and offered thanks for Realestate.com.kh’s cooperation with Century 21 Cambodia, and the development of the real estate sector in Cambodia generally.“It is with pleasure that Century 21 Cambodia work closely with Realestate.com.kh,” said Vat. He added that, “I think that Realestate.com.kh has become a renowned company in Cambodia. As this company has grown, they have played a very important role in the development of Cambodia, especially within the property market realm.”He also mentioned that in order to have the Cambodian property market continuing its strong growth, stakeholders in the market should partner to develop the industry together for the good of all, whether they are developers, constructors, real estate agencies or media companies. “For instance, Realestate.com.kh is an online marketing company which works to advertise property inside Cambodia on behalf of agents and developers. But, Realestate.com.kh also has a very comprehensive marketing reach outside of Cambodia,” said Vat.“Innovation like this will significantly help our country in promoting our real estate market to foreign investors,” says Vat.Century 21 Cambodia is the exclusive holder of the Century 21 Trademark & Systems in Cambodia and oversees all Century 21 franchise offices across the Kingdom. Realestate.com.kh is the official property portal partner of Century 21 Cambodia, and has actively cooperated and supported Century 21 Cambodia in bringing the Cambodian real estate sector to a wider international market. By doing so, Realestate.com.kh has increased the exposure of Cambodian property to investors across Cambodia and the world. And nowadays, Century 21 Cambodia is working and very hard to develop international networks of investors and agencies in order to take the Cambodian property market to the center of the world stage.Century 21 Global is present in over 78 countries worldwide, and Century 21 Cambodia are currently leveraging these connections to bring new investment opportunities and new investors to the Cambodian market. Vat believes that with strong connections between all stakeholders in the real estate sector, together we can support the long term development of this market.He also believes that development companies with long-term interests in Cambodia will only survive when they work with strong and innovative real estate agencies. “Success may not happen overnight, but if we partner with the right companies it is a matter of time before our real estate industry is very successful,” concluded Vat. Check out more videos about the Century 21 Condo Report from Mr Chrek Soknim, CEO of Century 21 Mekong and Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia.

Many investors, international and local, are purchasing condominiums in Cambodia, pre-sale, under construction/off plan, direct from the developer. When they do so, they enter into a sales and purchase agreement with the development company. Upon signing this SPA agreement, the condo is purchased and both parties must fulfill their full obligations in terms of payment and delivery of the finished condo unit.  However, there is some current confusion regarding whether or not a Cambodian Lawyer or Notary must also sign as witness to such agreements.This confusion exists because commonly these sales and purchase agreements only stipulate that there is a co-signing “witness.” “Party A” and “Party B” have signed being “Buyer” and “Seller”, and there is also a place for a “witness”. Hence the question begs: Is it a requirement by Cambodian law to have a lawyer or notary to sign in this witness section?And, if it is not a requirement to have a qualified witness, is it still safer to have a lawyer or notary sign instead of a civilian?The answer to this is as follows:The Law on the Implementation of the Civil Code sets out certain requirements for the execution of real estate contracts:Pursuant to Article 9, in conjunction with Article 336(2) of the Civil Code, a contract that transfers ownership over immovable property only comes into effect when such contract is made by a “notarial document”. Article 9 of the Law on the Implementation of the Civil Code clarifies that a notarial document is either:1) Made by a notary, or; 2) A privately-produced document authenticated by a notary, and dated and signed by the notary after the authentication; or; 3) A document made by a competent officer for registration process. As there are a relatively small number of official notaries in Cambodia (only around 20), in practice, Cambodian lawyers often serve as witnesses to real estate agreements. One more thing to remember is that under the above laws, there is some uncertainty still as to whether the actual land sale and purchase agreement must be notarized or whether the notarization requirement would only apply to the Vente Definitive land transfer form (which is the official land transfer form signed by the seller and buyer, and which can be made by a competent officer at the land office).So, in short, to be safe - make sure you have a registered Cambodian lawyer or notary present when you sign you sales and purchase agreement, and have them sign at the witness.By signing without this authorized witness, your SPA agreement could be considered void at the later date. Please seek legal advice when undertaking real estate and property transactions in Cambodia, and use their experience to your advantage. If you need to be put in touch with an experienced Cambodian lawyer - contact us today!Learn more about investing in Cambodia in our authoritative investor guides.

Having received a recommendation from H.E. Chea Sophara, Minister of Land Management, Urban Planning and Construction, the Cambodia Constructors Association (CCA) in collaboration with the Ministry of Urban Planning and Construction will pioneer a regional tour study in order to learn and gather more experience from neighboring countries, such as Thailand and Vietnam, regarding construction worker rules and regulation, on-site safety standards, site management and security. The intention is to learn from experience and raise the market standards in Cambodia.The purpose of this visit is as follows: 1. A study tour by bus, which will be attended by the managers, supervisors, engineers and designersof active construction and real estate companies in Cambodia. The mission is to observe and monitor new technology, and construction and site management in the Cambodian provinces bordering Vietnam and Thailand. 2. To get experience and exchange ideas about the construction sector between private and public institutions, from Cambodia and neighboring countries, with follow up meetings every 3 months to track progress. Participating members can pick up knowledge on different subjects or technical challenges associated with construction using new technology. The experience of each company that is shared during this tour and following meetings will contribute to the development of the country's construction sector, and ultimately allow it to become more abundant and sustainable into the next years. It should also benefit the well-being of those who work in this industry, whether management or construction worker on site. If you or your company interested in joining this tour, please contact us Mr. Vutha today on Tel: (855) 60 888 944 | 10 94 76 40 or Email: vuthatim01@gmail.com

Realestate.com.kh caught up with Mr George Kachmazov, founder and managing partner of Tranio.com, an online overseas property start-up. Kachmazov is a respected real estate and investment expert, as well as a keynote speaker at many national and international property conferences, and regularly contributes to print and online media with insight on real estate trends and advice for first-time investors. We know there is a large population of Russians in Cambodia. Are Russian's interested in the Cambodian property market now? If not yet, what might be attractive about Cambodia for property investment for Russian buyers? It’s true that there are many Russians who spend winter seasons in Southern Asian countries, including Cambodia, Thailand and Vietnam. Many of them rent out their Russian apartments and rent homes in Asia. We have had enquiries for apartments and townhouses in Sihanoukville in 2013–2014, but demand on Cambodian real estate is very low compared to other countries.There are several things that might be attractive about Cambodian property: low taxes, low prices, relaxed lifestyle, friendly people, new experiences. There are Russians who see drawbacks, though: lower market transparency (compared to Europe) and Cambodian property ownership restrictions for foreigners (they are not allowed to own land).What other ASEAN regional countries are attracting attention from Russians? We see interest in Thailand and Vietnam. In the whole, ASEAN countries are more popular among far-eastern residents of Russia because of the distances. For example, our research shows that people from the Vladivostok region (east of Russia) are three times more interested in Thai property than Muscovites who prefer to buy property and spend holidays mainly in Europe because it’s closer. How can a Cambodian property seller make their property more attractive to potential Russian buyers? what features are they particularly interested in? what terms of sale etc?Be trustworthy and convincing. Russians are often skeptical and ask for substantial facts and proofs. They tend to be in doubt: “Why should I work with this seller? Should I purchase this property or wait until I find something better?” This often results in prolonged or delayed transactions. Also a Cambodian property seller needs to be open and transparent, because Russians are afraid of scams. If you sell residential property for buyer’s own use, sell lifestyle and emphasise aspirational features of a property and location. Unlike many Westerners, Russian buyers tend to buy more on emotion and less on price. As for features, Russian lifestyle buyers prefer houses and apartments in a close proximity to beaches, and sea view may be demanded. Do support and advice at all stages.   What are the most popular locations for Russian investing overseas?Judging by the number of enquiries on Tranio.com in Q1 2016, the most popular countries are Spain, Germany, Italy, Montenegro, Czech Republic, Finland, Austria, Hungary, France and Slovenia. Spain has maintained absolute leadership during the last several years, and buyers stay attracted by relatively cheap property (prices dropped by 40% in seven years), sea and warm climate. Germany, strongly placed as number two, is preferred by those of our clients who want to invest in rental real estate, diversify investment and protect capital from Russian risks. What type of properties are they Russians usually seeking abroad? A big proportion of clients buy apartments by the sea for their own use – either to spend holidays overseas or to move permanently. This kind of buyers are active in Spain, Italy, Montenegro, France and Turkey. Since 2014, we are working closely with clients who want to invest in real estate rather than spend money on holiday villas and flats. This kind of buyers tend to purchase residential property to rent it out (according to our research conducted in 2015, 63% of respondents in commercial property market choose rental apartments). Mini-hotels are also popular (21% of respondents), as well as rental blocks of flats (16%).What are some facts and figures on total outward investment in property by Russians?Investment into overseas property was gaining in popularity since early 2000s. 2012–2013 showed a considerable increase in the number of Russian-speaking clients. In many countries, including Spain, Bulgaria, Latvia, Turkey and Montenegro, Russians took leading positions in the residential property market. But after 2014, when the ruble had plummeted, investment volumes decreased dramatically. In 2012–2013 Russians invested in property overseas more than 400 thousand dollars every three months, and in 2014–2015 about half as much. According to the Russian Central Bank the volume of transfers was down 30% year-on-year, checking in at just 199 million dollars, compared to 281 million dollars in Q1 2015 and 484 million in Q1 2014.Not only is the investment volume is shrinking, but so are buyer budgets. On the other hand, we have noticed a growing demand on investment property, particularly in terms of income-generating buy-to-let residential and commercial premises. Also our clients become more and more interested in development projects.What are the key motivating factors for outward real estate investment for Russian buyers?Five-six years ago, Russians were motivated by a “superplus” of money, they had enough liquidity to invest into seaside resort villas and enjoy European lifestyle. Between early 2014 and May 2016, the US dollar rose against the Russian ruble by over 80%. So, property overseas became much more expensive for people who earn income in rubles. The main motivations for Russian buyers now are extremely low mortgage rates in Europe and opportunities to invest money into safe, low-risk markets. Why is online marketing so important for international property buyers?According to National Association of Realtors of the US, three quarters of buyers start searching for property by looking at Internet listings. Word of mouth simply isn’t enough, every real estate company has a website, and it’s essential to promote it and raise its visibility in search engines so that potential buyers would be able to find it among thousands of other sites. Since 2014, we’re promoting the English version of our website, Tranio.com. Today at least 5% of our audience are clients from Europe, Asia, America and the Middle East, and their share is constantly growing.Tell us more about Tranio: Tranio is an international real estate broker. We help our clients buy and rent property directly from foreign agencies and developers without extra charges and unnecessary intermediaries. We are not just a real estate website because we provide support and advice at all stages of selecting and buying a property, and we are not a traditional real estate agency either, because we have about 500 partners all around the world, and we do not favour any particular agency or developer at the expense of the others. Also we publish news and reports on property overseas and give an expert advice. In 2013–2016, we closed 500 deals. How long has Tranio been around? What inspired it? We’ve been on the market for six years. After my family had bought a second home in Croatia in 2010, I had an idea to create a real estate business. I saw potential in this segment, as there were many clients, a lot of interesting products, and low competition in Russia compared to the vast market capacity. We started to design and develop the website in 2010, and launched the full working version in March 2011. At first, we planned to monetize the website the same way most real estate sites do — by selling advertising and paid listings. But very soon we disliked the idea because abundant advertising always makes a website less user-friendly and lowers its quality. In 2012, we changed the mode of monetization and became a mix of Internet portal and real estate agency. We were selling second homes by the sea and helping people spend their money on lifestyle. In 2014, we launched the English version of our website, started working with international clients and sell buy-to-let commercial property. The change in business strategy helped us not only survive the crisis but also rise sales volumes despite decreasing demand on real estate overseas. As the crisis hit the Russian market in 2014–2015, we changed our strategy once more. We saw investors rising their yield expectations as yields were falling gradually in every European country due to high demand and relatively low construction volumes. We understood that the only way to earn money in today’s market is to invest it into projects of added value, namely into redevelopment and renovation projects, and we started to offer them in 2016. Our next goal is to create our own redevelopment project. We are planning to find investors, purchase a multifamily building in Spain, renovate it, create micro-apartments and sell them to end users who will either use units themselves or rent them out. At the same time, we will go on expanding the share of international property buyers in order to protect our business from Russian risks. Some other articles George has recently contributed to: Five reasons why guaranteed high yields don’t exist ; Russian crisis breeds a mature generation of property investors ; How property plays a role in balanced pension investments ; Buy-to-let investments in Germany are a boon for small budgets ; Risks: macro and micro pitfalls in property investment strategies ; Overseas Investors: Tricks To Financing Your Property Investment In Europe

Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?

Residences L Cambodia offers 2 exciting new condo projects located in the heart of Phnom Penh city, namely Residence L BKK3 in Sangkat BKK3 and Residence L Boeung Trabek 2 in Sangkat Boeung Trabek 2. These projects are currently under development with the management of L.C.P.P Residence Co., Ltd with its headquarters in Phnom Penh. Other projects already completed by this experienced local developer includes Residence L Boeung Trabek, Residence L Sovan - both of which are completed - and Residence L Olympic, which will finish construction at the end of 2016. The sales success and track record of quality behind Residence L guarantees every new buyer security over their new asset and a finished-product quality that is currently leading the mid-range condo market in Cambodia. At the completion of all of these projects, Residence L company will have produced a grand total of over 800 condo units to the Cambodian market.Project after project, Residence L continues to sell out new developments! Modern people want to live in a luxurious, secure and modern condo in the center of the city, and this is exactly what Residence L offers!Residence L BKK3 has 21 storeys and Residence L Boeung Trabek 2 has 20 storeys, both with 1 and 2 bedroom condos available in a variety of floor sizes. All units’ interior has been uniquely designed to suit the space and style, and each unit is fully equipped with high quality fittings and furnishings. Common-use condo facilities include a swimming pool, gym, full security and expansive car parking facilities. The price range for all of Residence L condos is between $40,000 and $100,000, depending on unit sizes and specs.The locations are both close to central business districts, shopping malls, Russian Market, the Chinese Embassy, banks, hospitals and various gyms and sporting facilities. Ms. Sok Kim Sour, sales representative for Residence L, said, “Our buyers are an equally divided mix of locals and foreigners, and many of them buy the units to rent out in the future.” Of course you can live here yourself, but if you buy as an investment property to rent you can safely expect a monthly income of around $400 - $1000 per month per condo unit, based on current rental rates for similar properties in these areas.Residence L Cambodia is an apartment and condo building offering a premium lifestyle to its customers, located in the city’s fast growing hotspots. And Residence L is a place to call home… Find out more today.Residence L BKK3 in Sangkat BKK3 and Residence L Boeung Trabek 2 in Sangkat Boeung Trabek 2.

More concrete details surrounding WorldBridge Land’s proposed $100 million affordable housing project have surfaced, however the Cambodian government’s involvement in the development remains unclear.In November 2015, WorldBridge and Singapore-based construction company, Straits Construction Singapore Pte. Ltd, announced a memorandum of understanding (MoU) on affordable housing with the government. The company currently has two major condo developments underway: The Peak and The Bridge.Oknha Sear Rithy, WorldBridge group chairman, told Realestate.com.kh this week that although specific details concerning location would be confirmed when the project is launched at the end of this year, he said the development would be located around 17 kilometres from the centre of Phnom Penh. It is unclear if the government has offered land concessions for this project.“For our first project, the company has land and we will build the houses on that land, and sell it to the eligible buyers with incentives and regulatory support from the government,” Rithy said.“In the future, the government may have land available for private developers to develop into public housing projects.”Rithy said the company had been collaborating with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in relation to the project’s planning stages. “Together with our strong partner, Straits Construction Singapore which has built public housing in Singapore since 1982, we have been working closely with the MLMUPC on the draft regulations for the public housing to make sure that the regulations are responsive to the interests of concerned parties: the buyers, the state and the company,” he said.“There are various forms of public and private partnership in public housing development as stated in the government’s National Policy on Housing.”For this particular project, slated for completion within two years, Rithy said, “We have strong hope that the government will provide us investment incentives including tax exemption and provision of infrastructure connection to the project site in addition to the development of regulations that promote public housing projects.”The houses will range from $25,000 to $30,000, and Rithy added that financial assistance will be available in the form of housing loans for buyers.“We expect that the initial deposit is around 10 per cent of the housing cost, and the buyers can pay the remaining sum in monthly instalments.”“I believe a lot of people can afford that,” Rithy added.In terms of financing options, Rithy said the company would work to ensure favourable loan terms.“Our company will work with commercial banks and hopefully international development banks to make housing financing available and affordable by the low and middle income families. So far, those banks have already been in touch with us to realise such collaboration,” he said.“As for the government’s home-loan financing, it is already stated in the National Policy on Housing though it may take some time before such state financing mechanisms can be put in place. We hope that, in a longer term, the government should be able to play that role too.”Rithy says affordable housing plays a key role in Cambodia’s sustainable development, and is something that is in high demand. “Not different from birds, either big or small, every family needs a proper shelter or a place they can call ‘home’ regardless of their income status. So far, we have seen a lot of developments and supplies of boreys and high-end condominiums, which are good for upper middle and high income households, but are beyond the reach of low and lower middle income families, who also deserve the opportunity to own a home,” he said.“So, there is a real demand from the lower end of the housing market.” The developer – Cambodia Natural Lucky Real Estate, currently building Sino Plaza near Boeung Trabek Plaza in Chamkarmon district – has also recognised the need for affordable housing in the local market, according to a self-published report titled, “Housing a Kingdom: Affordable housing for Cambodians”. The private report, which was recently handed to the MLMUPC, notes: “Affordable housing is a huge concern among young, young families and middle-income group of Cambodians. Cambodians in this segment are increasingly finding themselves priced out of private housing.”In response to this, Cambodia Natural Lucky states that, “10 per cent of the whole

In an effort to connect and empower the real estate, education and business sectors of Cambodia, Realestate.com.kh is very proud to support and sponsor the Phnom Penh chapter of JCI International for its yearly “JCI International Business Exhibition and Entrepreneur Square” event. Who is JCI:JCI is a nonprofit organization of young active citizens age 18 to 40 in 5,000 communities and more than 115 countries around the world who are engaged and committed to creating impact in their communities. JCI members seek targeted solutions to the unique problems in our communities to build a better world, creating global impact. The JCI mission is to provide development opportunities that empower young people to create positive change.Introducing the JCI International Business Exhibition and Entrepreneur Square:The primary objective of the exhibition in Phnom Penh this August is to promote the economic advantages of Cambodia through different businesses and investment opportunities for both the local and international market. This year’s expo focus will center on three different sectors – real estate, food & beverage, and the organic product industry. The organizers are hoping that this event and expo will bridge gaps in the market and create new and strengthened ties among the community of professionals who are interested in or are doing business in Cambodia.What Will Happen at The JCI Expo?Two events will occur simultaneously on August 27th, 2016, at the 5-Star Sokha Phnom Penh Hotel Residence from 8:00AM to 6:00PM to cater to the needs of the participants. The International Business Exhibition will be a premium business expo that will allow 500 people to browse and mingle with over 51 businesses – including various suppliers – who will be showcasing their products and services at their individual booths.Meanwhile, the Entrepreneur Square will be taking place, a premium business seminar that will bring in different industry professionals from each field to talk about the different business opportunities in Cambodia. This event will accommodate anywhere from 150 to 200 high profile participants as there are only limited seats available.Who Can Participate?Both the International Business Exhibition and the Entrepreneur Square events are open to business owners, local and foreign entrepreneurs, local and foreign investors, and business associations.Why Participate in this year’s event?Since this will be an event attended by business entities, suppliers, entrepreneurs and high-profile investors, this may be the best opportunity for you to meet new people and expand your network to form possible partnerships and collaborations inside and outside of Cambodia. It’s also a unique chance to gain exposure for a specific products or services you or your company may be offering. And since there will be a seminar on as well, this is a great time for you to learn new things from seasoned professionals who have made it big in the real estate, F&B, and organic products industries already. At $50 for a seat at the Entrepreneur Square event and just $300 for those who want to secure a booth at the exhibition, you’re sure to get your money’s worth.What if I Want to Sponsor?Garnering support from partners like the the Young Entrepreneurs Association of Cambodia and supporters like the Business Networking International, Cambodia Woman Entrepreneurs Association, and the Cambodian Valuers and Estate Agents Association (CVEA), the event organizers are still offering competitive packages for interested sponsors starting at $1,000. These packages will get your logos on promotional materials, mentions on the event’s social media pages, logos on promotional videos and more.  What if I Have Questions?For interested participants, you can contact Mr. Horm Chanreaksmey at +855 12 540 033 or his e-mail hchanreaksmey@gmail.com. For those who are interested in the sponsorship packages and in public relations, you can contact Mr. Soth Sothearak at +855 17 59 46 19 or you can e-mail him at sothearak2510@gmail.com as well.

A $150 million agreement between the Cambodian and Chinese Governments will see the construction of a huge sports stadium complex - suitable for Cambodia to host the Southeast Asia Games (SEA Games) in 2023.First approved in 2013, the “Morodok Decho Sports Complex” first stage of construction is already around 70 percent complete and is being developed by the LYP Group for around $39 million, according to an RFA report.The “Morodok Decho Sports Complex” is being built on 85 hectares of land in Prek Ta Sek commune, Russey Keo district, inside of LYP Group’s “Garden City” satellite city.The second phase of the sports stadium project is expected to begin construction in 2017 under the management of a Chinese company, with an approximate $150 million funding package provided by Beijing.   Meanwhile, a huge world-class TV antenna, with a total height of 285 meters, will be completed before the year 2023 as well, near Morodok Decho  stadium. To be called "TV Tower", the massive antenna will become the broadcasting center for the SEA Games in 2023. The TV Tower project is invested in by Chinese company Power China Kunming Engineering Corporate Limited, on a land area the size of 6 hectare. This new sports stadium and TV Tower should be another great boost for Cambodia's thriving tourism industry.

According to the recently released Century21 Cambodia Condominium Market Report H1 2016, the supply of condo units in Phnom Penh will reach approximately 37,570 units by 2020, with a compound annual growth rate (CAGR) of 56 percent for a period of 13 years. Yet, during the next five years to come (2016-2020), year on year growth in condominium unit supplies will plateau and move toward a downward trend, as the market stabilises with a CAGR of 33 percent.Check out more on the report...

PHNOM PENH, Cambodia – 6 July 2016: After a record-­breaking year in real estate and construction, the Cambodia Property Awards returns for a second year to reward the best developers, projects and designs in the Kingdom. According to the latest research by consultancy CBRE, the capital Phnom Penh’s condominium supply is projected to rise by a staggering 794 percent or 19,018 units within the next two years, supported by sustained gross domestic product growth, attractive returns and rapid urbanisation. In another fast ­growing segment, Cambodia’s retail market is set to get a substantial boost with new retail supply coming in from foreign investors hailing from ASEAN Economic Community and East Asia. Those impressive developments will be highlighted at the second annual Cambodia Property Awards 2017, the biggest and most exclusive awards programme in the country that forms part of the regional Asia Property Awards series organised by PropertyGuru, Asia’s leading online property group. The annual real estate event was formally launched to the media on 6 July 2016 at the Empress Room of Raffles Hotel Le Royal, be to followed by an evening launch party at the historic Chinese House on Preah Sisowath Quay in Phnom Penh. With much fanfare and media coverage, the inaugural ceremony that took place on 25 February 2016 at the prestigious Sofitel Phnom Penh Phokeethra was attended by more than 300 high ­profile guests and VIPs, including His Excellency Dr Pen Sophal, representative of His Excellency Senior Minister Im Chhun Lim, who gave the inspiring keynote address. Broadcast live on CTN’s Cambodia News Channel, the 2016 Gala Dinner saw Borey Penghouth Group collect five awards including Best Developer (Cambodia), while Mr Rithy Sear, chairman of WorldBridge Land, was named Real Estate Personality of the Year by the editors of Property Report, Asia’s leading luxury real estate, architecture and design magazine. Other big winners were The Olympia City Development Co Ltd and Urbanland Asia Investment Co Ltd. “Cambodia joins the other leading economies of ASEAN in hosting its own awards programme,” Terry Blackburn, founder and managing director of the Asia Property Awards, said. “It is a testament to the strength and quality of the local industry that we have so many fine developments join our launch year in 2016.” The 2017 event aims to surpass last year’s guest list and the total number of eligible entries for categories covering the condominium, housing/villa, office and serviced apartment segments. New categories to join the programme include Special Recognition in Sustainable Development and the expanded Best Hotel Development category for Phnom Penh, Sihanoukville, and Siem Reap. Nominations are already open and will close on 4 November. Entry is free.Sign Up NowAll entrants for the Cambodia Property Awards can be nominated by a third party, including peers, professionals and consumers, and, if eligible, are rigorously and fairly judged by an independent panel of industry experts, who conduct site visits to long­listed developments in order to determine the official shortlist of nominees comprising one Winner and up to four Highly Commended in each category. BDO, one of the world’s largest accounting and auditing firms, returns as the trusted awards supervisor of the Asia Property Awards, which, in its 12th year, is widely recognised for its fairness and transparency. The official list of nominees will be revealed in mid­January 2017, along with the announcement by the editors of Property Report of Cambodia’s Real Estate Personality of Year, whose influence and achievements resonate across the kingdom.

The real estate and property markets are highly competitive. This is why it can be extremely difficult to stay in the business and find a career beyond your initial success, especially if you’re a real estate sales agent.Longevity becomes the primary issue and agents are left asking themselves how they ended up not having inquiries when just yesterday they were doing fine.CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee, Mr. Alex Evengroen addresses this issue and explains that this may be because of a weak grasp on how professionals perceive real estate agents. In a sit down interview, he reveals a couple of tips that will take professionals in the industry from an agent status to real estate sales guru.CharacterOne of the fundamental characteristics of a successful real estate sales agent is not his educational attainment, but his character and the way he conducts business. Though being certified by an institution gives you an additional coat of credibility, being certified by the clients themselves from their own personal experience will give you an edge. This becomes an advantage when they start referring you to friends and family who are looking for the same services that you offer. People have a tendency to trust people they know and a personal certification from them will always outweigh a formal one in the long run.CoverageWhile good character is important, it should also go hand in hand with being knowledgeable in terms of the ins and outs of the industry. Knowing property types and location and showing that you know what you're talking about will assure your clients that they will get the best and the most practical deals from you. It’s also crucial to give the property investment experience a personal touch. So, even if you know what you’re talking about, Evengroen says that you should still ask your clients some questions to find out what they want. This not only allows you to provide them with more flexible options, this also gives you the opportunity to compile your own personal statistics on that client and develop your own portfolio.CommunicationEvengroen says that communication is one of the most important things that you can learn in the industry. This not only extends to communication principles and etiquette. This also includes working on your language skills. He emphasizes that you have to keep learning. Knowing an additional language will give you a competitive start and follow through you need for further growth. It also builds character and your ability to learn anything. It allows investors to feel a familiarity they may otherwise miss when they transact with other agents. Among the leading languages in Cambodia are Khmer, English and Chinese. The more languages you know, the more sales you can make.CommunityDeveloping relationships in the industry is one of the biggest contributors to the successes and failures of real estate sales agents and agencies all over the world. Without good networking skills, you lose the potential client base that will organically come through referrals. So, this means that you not only develop relationships with the clients. It also means that you should develop a deeper connection with colleagues, other agents and organizations. This is why Evengroen suggests all Cambodian agents should join the CVEA - which is a big group of real estate companies registered with The Ministry of Economics and Finance.Being part of a community like this gets you the chance to learn from like-minded individuals who are willing to support you and who are also seeking to improve the industry conditions itself. So, whether it’s CVEA or not, make sure that you become part of a group of credible people and harness the power of numbers!Consistency“You only get one chance” at making first impressions. This is the sentiment shared by Evengroen during the interview. He says that who you are the first time people meet you will last until they decide to part ways with you. So, you want them to feel the support you are willing to offer them. A bad impression can somehow be offset with consistent follow-ups though. And whether you’ve made a bad or good impression, follow-ups remain one of the best ways you can close the deal. Just be mindful of the frequency so that it won’t reach a point where clients are inconvenienced by it.ConfidenceBeing a personal and professional success coach, Alex Evengroen believes that agents should first and foremost believe in themselves. They have to dare to be different. He says that "if you copy other people, no problem. But then you're one of them and you're the same.” And while it’s important to mould ourselves in the image of a successful person, our differences will serve as our personal and even professional marketing tool. He states that we must make a conscious choice to be confident. "So, if I don't believe in myself, why should you believe in me?”He further emphasizes that confidence makes other people confident that you will support them when they need it. With that assurance and with the utilization of all these tips, Evergroen firmly believes that you’ll be able to last long and hit it big in the real estate market. So, continue improving yourself and be aware of the things you’re still able to work on. And since the industry is fast growing, agents and agencies should have no excuse to do anything else other than focus on growth.Learn more through the Realestate.com.kh news section now!

In 2007, Camko City and three projects of De Castle, along with a few other projects, started off-plan in the northern part of Phnom Penh, being introduced into the capital’s housing market for the first time, with 1,700 units launched for presales off-plan that year. And it was, indeed, a nascent market at the time but still interesting enough to attract local and especially foreign buyers who speculated for returns at the resale market.Now it is not a nascent market anymore. It has been around for almost 10 years, with lots of condos situated across the capital, especially in the central district of Chamkar Mon, or northeastern parts of Phnom Penh.Today, a newly-released Century 21 record says there are in total 110 condo projects with 148 individual buildings, both finished and ongoing, or 37,570 units slated through to 2020.Supply has shot up remarkably within these two years, while the market goes with a mix of tones – a today challenge and tomorrow blessing.  That is said, current excessive supply is not only a pressure on the ability of the market to absorb in the short term but also a possibility that the market will reach equilibrium where buyers enjoy in the medium to long run.For the market challenge, there two key factors to look at: sale-to-stock ratio and market absorption rate.First, according to the Century 21 report, during the first half of 2016 saw a dramatic presale launch, about 13,300 of new units, into the capital’s condominium market but only 13 percent of them sold, compared to 18 percent and 31 percent in the same period in 2015 and 2014, respectively. Second, absorption strength in the first six months of 2016 was 3.8 years, slower than the market absorption rate in 2015, which was 2.8 years."It’s nothing surprise because the supply early this year rose too high for the current demand to catch up, said Chrek Soknim, executive officer of Century 21 Mekong.A market slowdown has been mainly dragged down by a huge number of new units added to stock last year and during the first half of this year, offering a hard time for the demand to take up in the short term, reads the same report".Touch Samnang, president of OCIC, which is investing in condominium project Olympia City, acknowledged, telling the Post that condo sales early this year has plummeted due to too much supply, adding that before most developers focused on “foreign and upper class market, but today they have turned around towards the average crowd.”Too much reliance on international market, further, contributes to this market challenge, for local affordability and trend are not strong enough to bolster the market growth. In 2014, a Park Café’s consumer survey among Phnom Penh’s active professional population showed only 1 percent earned a threshold of US$2,001 to US$5,000 per month and 6 percent earned a threshold of US$1,001 to US$2,000 per month.According to a Vtrust’s housing market survey in 2015, about 54 percent of the respondents said they expected to buy homes at prices within a range of US$30,000 to US$70,000 per unit, while today only around 40 percent of condo units in stock are with prices lower than US$70,000. However, only 9 percent of the local expectant buyers said they would choose to buy condos.On the other hand, an excess of market supply today could also potentially be a blessing for the capital’s condominium market in the medium to long term, be it 3 to next 6 years.It is an advantage because when the supply is widely available in the market, it offers numerous opportunities for expats and foreign investors who come to work and live in the capital, since some condominiums offer mixed-use options along with amenities that ease their ways of life.Kuy Vat, chairman and chief executive officer of Century 21 Cambodia, supports the viewpoint, saying, “When business people or investors want to come for businesses in Cambodia, what if we don’t have sufficient housing supply along with amenities

vKirirom Pine Resort is located among the pine trees of Mount Kirirom National Park, and offers a unique escape from the heat of the Cambodian plains, lying 675m (2,215 ft) above sea level. Here you can lead a slow life in the mountains, whether for a holiday retreat home, retirement village, office retreat or permanent residence. Kirirom National Park was the first national park of Cambodia, located mostly in Phnom Sruoch District, Kampong Speu Province, with a smaller section is in neighboring Koh Kong Province. The meaning of "Kirirom" is "Happy Mountain", given to the area by King Monivong in the 1930s. vKirirom today has an international class resort, vKirirom Pine Resort, with 68 rooms and 150 camping sites featuring, fit out in a glamorous camping theme, a.k.a “Glamping”. Visitors can join in an array of activities such as cool mountain top relaxation, team building activities, and recreational sports. There is also an international university known as the Kirirom Institute of Technology, now in its second year of operation. Exciting new introductions include the Movie Town zone, Entertainment zone, MICE zone (Meetings, Incentives, Convention and Exhibition), Auditorium, Bus Terminal, Commercial facilities, Swimming pool, ZIP lines and Container hotel. Having won the Eco Tourism Resort award 2015 from the Government of Cambodia, the resort has demonstrated it is fully committed to making the highland development into the best in Cambodia, and an internationally recognized destination on par with Siem Reap. Phase 1 is 591 hectares consisting of vKirirom Pine Resort and Creative Forest. The first area shall be dedicated to residential and supporting facilities. Introducing elements of a successful city development will be priority in this phase and will include daily conveniences, medical facilities, educational facilities, transportation hubs, commercial opportunities and entertainment. The latter area will focus on green concept business development. together with light industry and other development and education programmes. CHECK OUT THE FULL LISTING FOR VKIRIROM! The entire development is designed to be totally eco-friendly. For instance, as construction continues, VKirirom has a strict policy that only trees which are rotten or broken are cut down for new construction areas. Otherwise, the natural setting is preserved as much as possible. The resort also grows its own vegetables and fruits without chemicals to serve in the on-site restaurant. Natural resources are also reused, for example, charcoal is made from any cut trees, and fertilizer is created from green waste. 1200sqm of free land is available for sale for buyers who wish to design their own home. Architects and construction support is also available on the buyer’s request. If a two-storied house is preferred, this can be arranged also. However, in order to protect the environment, a policy of building-to-land ratio up to 20% must be maintained, and a maximum total floor area of 1000sqm. Pre-built homes are also available. Borey A has a single floor space of 110sqm with land area of 600sqm. These homes are perfect for those who want to come and enjoy in the mountain every weekend as an escape from the city life! Each house has a loft and rooftop veranda. VKirirom also offer an integrated cleaning service and food catering service from Pine View Kitchen, as needed. And when you invite your friends or relatives, you can use resort’s additional accommodation for a special price. Further, when you don’t use this house for a long period of time, the team at VKirirom can help you to find someone who wants to rent it and pass you the rental returns. Borey R has a single floor space of 36sqm with land area of 180sqm. It is well suited as a student dormitory for “Kirirom Future College” students. You can lease this building and rent it to the college (for 2-10 years) in which case the college assures the rental profit with an 8% fixed rate interest. Also as a retirement house, this type of house with land is very attractive. As the entire site is on a 50 years lease contract, anyone from any country can rent without any special procedure. The developer’s unique strategy is a win-win formula for buyers. vKirirom produce cost effective properties that provide good rental returns and high capital appreciation. CHECK OUT THE FULL LISTING FOR VKIRIROM!