The Penthouse Residence will host a special event at Aeon Mall between May 5th and 6th, 2016. For every unit purchased at the Aeon Mall event, all customers will receive a special 5% discount together with a brand new iPhone 6S!!!Learn more about Penthouse Residence in this great video on Realestate.com.khTV! FIND OUT MORE ABOUT THIS GREAT PROJECT RIGHT HERE!The Penthouse Residence are strategically located on Sothearos Boulevard and architecturally designed to meet the demand for luxurious condominium living within the contemporary city of Phnom Penh, Cambodia.With its bold and innovative architectural design, nothing has been spared in creating Cambodia’s first luxury condominium development. 36 floors of luxurious residence complemented by every amenity will result in nothing less than lavishing, from the spectacular panoramas of the city skyline to the attentive services of the concierge and our management team. Setting on prime & unique real estate location, The Penthouse Residence comes with roof top terraces, infinity swimming pool,fitness center and the first and only one world class revolving restaurant (in Phnom Penh) to give you a 360 degree panoramic view of the city skyline. Surrounded by conveniences of international standard, located next to premium residences and business centers such as the Sofitel hotel, Aeon Shopping Center and ICAN British International School to name a few, make The Penthouse Residence the most desired address in Phnom Penh. Designed to surpass expectations, The Penthouse Residence exude a warm Cambodian feel, which is subtly manifested in the premise’s architectural style, choice of furnishings and landscaping. Residence enjoy privacy and warm hospitality. A wealth of recreational facilities and luxurious services make The Penthouse Residence the most desired address in Phnom Penh. Come along to the special event at Aeon Mall this May 5th and 6th, 2016. For every unit purchased at the Aeon Mall event, all customers will receive a special 5% discount together with a brand new iPhone 6S!!!FIND OUT MORE AND INQUIRE TODAY

While Tbong Khmum advances towards becoming Cambodia’s first model satellite city, land prices along the outskirts of the proposed development area are skyrocketing as investors who foresee the rapid growth of the new province rush to capture roadside plots for future commercial and retail purposes.Tbong Khmum city, the new centre of the province formed in late 2013, is the first ever Cambodian city to have zoning and infrastructural plans firmly in place before any official groundbreaking.Sorn Seap, CEO of Key Real Estate, visited the site over the Khmer new year to inspect progress and survey land investment opportunities; and said all road construction was underway.Zoning is already clearly defined and signposted on site, to include commercial, industrial, residential and administrative areas.“The combination of strict zoning, open roads, green space, and the gentle slopes of the city, will create a new urban centre that will look more like a western-style city,” Seap said.Tbong Khmum governor Prach Chan said this week that current plans are to complete all basic roadwork in the precincts development plan before the onset of monsoon season, while the water treatment system is slated for completion in 2017.According to Chan, no private companies have yet invested in the new city. “However, the land prices are still cheap here, and offer a good chance for investors in the near future,” he said.Although land within the borders of the Tbong Khmum development zone are not yet up for sale, land along the border of the site on the eastern side of National Road 73 remain a hot ticket for local investors.Investors from the provincial capital of Suong, currently the largest city of Tbong Khmum province, and other parts of the neighbouring Kampong Cham province, are racing to get their hands on some land.Despite the new provinces isolation from other major real estate hotspots, the land prices remain high along National Road 73, with land prices commanding up to $4000 per metre front.“The land is not being sold by meters squared, however, but rather according to meters of road front access,” noted Seap, adding that investors were buying purely for retail and other commercial purposes.“The current land for sale is being resold now, having been subdivided by the original buyers into smaller sections.”While large parcels of land were originally available for first movers, Seap said since plans for the city had become more concrete, all plots have been divided to a maximum of 10 meters road front, with between 30 - 50 meters of land attached behind.Co-written by James Whitehead and Siv Meng

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) took place April 1st at the Phnom Penh Hotel, with a host of the local and regional industry leaders giving their outlooks on the state of the Cambodian real estate market.Realestate.com.kh caught all the action with the speakers of REMOC2016 to get their 2 cents on the state of the current and future Cambodian property market prospects.Here is what Sorn Seap, ceo of Key Real Estate had to say...What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? At REMOC-2016, I’m going to present about the most updated Phnom Penh land market, going in-depth into market prices, zoning and development trends in the future. Phnom Penh land market prices continue to rise up by 10 to 20 percent a year. Nevertheless, the whole Phnom Penh land market has many areas that see different price growth rates depending on many factors, including zoning, planned infrastructure, and location special features. Over the last 10 years, I’ve seen that Phnom Penh has expanded quickly. Residents not only concentrate in central business zones but also spread out to form new clusters of housing in the outskirts – with some areas are now home to tens of thousands of residents. Other locations, furthermore, will also have the same experiences in the next few years.

Want to start living in Phnom Penh? You should. Over 80,000 expats have already moved to the Kingdom and life is good! The ULTIMATE Expat Guide to Phnom Penh covers all things you need to know before moving to the kingdom of wonder, thanks to Realestate.com.kh, Cambodia's home of real estate. Real Expat Reviews:Firstly, let’s see what some expats currently living here in Phnom Penh have to say:Daniel Santantoniou, an Insurance Broker originally from Geneva, Switzerland, who has lived in Cambodia for 20 months, says that “the best thing about living in Cambodia is the cost of living, business opportunities, overall growth in all sectors, proximity to the beach and the influence of Buddhist culture.” Daniel lives in a one bedroom apartment, local Khmer style, with a view of Royal Palace and the National Museum. This costs just 430$/month, including water and cleaning once a week, which Daniel says is “good value for money given the location and view. However, we found serviced apartments way overpriced in Phnom Penh compared to Bangkok.”Alexander Evengroen, a Netherland’s native and a business developer, real estate professional and motivational speaker by trade, has lived and worked all over the world, including China, Singapore, Thailand, Ghana, Malawi, and now Cambodia... “I have stayed in beautiful Cambodia for around 5 years. The best thing about living here is my beautiful Cambodian wife,” says Alex. In terms of advice for new expat residences, Alex says that, “someone moving to Phnom Penh soon needs to be open-minded and go further than the tourist attractions. Dare to explore more provinces and meet the fantastic people of Cambodia. The amazing food, the culture and so much more. Meet other expats to share experiences and join events to learn from each other - but don’t only hang around them! See and feel the beauty of this great country.” Alex lives in a beautiful spacious 5 bedroom, 5 bathroom villa home with “all the needs and facilities you can dream of - Seldom do we get power cuts, and fully air-conditioned - in the Attwood area of Phnom Penh.”Filipino native Carmela Torres, a real estate marketer by day, band vocalist by night, has resided in Phnom Penh for 1 year and 3 months. She says, “The best thing about living in Cambodia is the affordable yet high quality of life (cheap cost of living). Also, the unique freedom to start a business and not get killed with taxes.” “My advice for an expat moving here,” says Carmela, “would be shop around to find the best deals on property and to always try to barter the price. Do not be overly anxious about safety and security when moving in Phnom Penh, and when it comes to healthcare I think the medical care facilities here have greatly improved, and many ailments can now be treated in Phnom Penh by foreign doctors and foreign-trained Cambodian doctors. Dental care is also professional and affordable. But have medical insurance in your home country in case of the worst! Finally, beware the heat!” Carmela lives in a stand alone apartment in the BKK1 area, which she says is “definitely good value for money: Centrally located, easy access and very close to everything.”Hayley Flack, a student instructor from London, has lived in Cambodia almost fourteen years. Hayley comments that, “I enjoy my job and the easy going lifestyle of Phnom Penh. On weekends, the hardest thing is deciding where to eat - as there are so many great restaurants, and which gigs to go to. We are generally spoilt for choice. A piece of advice I would give is to stay calm and do not lose your temper. A smile will go a long way even when you get frustrated, which will happen.” In regards to where you should live, Hayley explains that, “I have lived in the same apartment for nearly ten years. The rent is very good and the landlord is very hands off, apart from when we need help. We live behind the University of Fine Arts. It is very good value for money. However, one thing I will say is the apartment next door and many others in our area lie empty. Why? Because the rent is more than double than ours. I don't understand why the landlords keep the rent high and therefore the apartments empty. I have had friends look at them and try to haggle the price, but they won't budge.”Adolfo Perez-Gascon, a Spaniard who has lived in Cambodia for 2 years already working as a journalist, thinks that, “the best thing about living in Phnom Penh is the fact that you have access to a big and vibrant community of expats, while also having the opportunity to interact with a very friendly and open local population. Living in Phnom Penh, you'll find that you have access to almost all western commodities and activities that you enjoy back home, but you are still in a foreign and exciting country; a country that you'll feel compel to explore and learn more about. In this regard, Phnom Penh strikes an almost perfect balance.” Adolfo notes that, “a lot of people move to Phnom Penh without a plan; they don't really know what they want to do here, and, of course, do not have a job waiting for them. They are lured to the country by lax visa requirements and the prospects of an easy life. My advice to any person planning the move to Cambodia is to come here with a job. Do your research, find an employer that you'll like to work for, and don't board that plane until you are sure of what you are going to be doing. Having a concrete plan of action will help you enjoy your experience in the Kingdom a lot more. Starting work right away will help you integrate into the community. I shared an apartment (with 2 other people) on the second floor of a traditional Khmer building located in the vicinity of the Genocide Museum. Rent is extremely cheap (we pay 400$/month for the whole apartment). Compared to my home country, this is an amazing deal. Put bluntly, you'll never find such cheap accommodation in Spain. The apartment is nice, spacious and comfortable. We have all the amenities that you'd expect of a modern house, including wifi and aircon.”A Little History That Ex-Pats Should Know:Cambodia has a rich history going back at least five thousand years. However, it was an experiencing a Dark Age from the 1400s until 1863. This Dark Age ended when the French came in and established a protectorate. Over time, this situation changed and Cambodia became a French colony. In the early 1940s, events that occurred during World War II weakened the French Colonial Empire. In 1953, Cambodia established itself again as an independent kingdom. Thus, from the 1940s through the 1960s, development in Cambodia was comparable to what was occurring in Vietnam and Thailand at the time. Unfortunately, the war in neighboring Vietnam negatively impacted Cambodia, resulting in sections of Cambodia being bombed by various parties, including the USA. This helped bring a group to power known as the Khmer Rouge. Most likely, you have heard the term "Khmer Rouge" and are aware that it has negative associations. They came to power in Cambodia in the 1970s, and, during their relatively short reign of terror, killed approximately a third of the country's population. These events affected everyone in the nation and still do. But this era was particularly hard on educated professionals, such as doctors, lawyers, and teachers. They were targeted first. Although these events are history, they are not yet resolved. The country is still struggling to heal its wounds from these events. The trials of the Khmer Rouge leaders for their atrocities started relatively recently and are still ongoing in The Extraordinary Chambers in the Courts of Cambodia (ECCC) located outside Phnom Penh. Additionally, the country developed the Tuol Sleng Genocide Museum and Choeung Ek Killing Fields in Phnom Penh. These are tourist sites aimed at educating the world, as well as a form of national therapy, helping the country to come to terms with these recent events.History and The Ex-Pat Community:Modern Cambodia was established in 1993. Thus, it is a relatively young nation, yet it has a long and rich history. The recent events detailed above have some of the following impacts on the ex-pat community today: 1) The tremendous recent loss of so many educated people is the primary reason that Cambodia has such a thriving ex-pat community. The country needs far more educated, skilled professionals to fill vital roles than it can supply internally. So, if you are an ex-pat living in Cambodia, you have been welcomed here to help with the recovery process that the country is still undergoing. 2) If you want to fit in and be comfortable in your interactions, it helps to understand the culture a bit. One of the take-aways from this short history lesson is that there is a significant French influence in Cambodia due to the years that it was a French colony. Another is that Cambodia is right now undergoing a process not unlike The Nuremburg Trials from some years ago, when European leaders were similarly tried for war crimes from World War II. 3) The country still has a lot of landmines and other visible scars from being embroiled in conflict for decades. It is wise to be mindful of potential danger in some parts of the country when you travel.Phnom Penh for Expats:As the capital and the largest city in the nation, Phnom Penh is a locus of the ex-pat community. Not only are there a lot of jobs here that are well-suited to attracting ex-pats, it has development more comparable to that of many western nations. This gives ex-pats the chance to find their comfort zone, anywhere from largely recreating a life similar to what they had in their country of origin to living much like a local for an especially broadening personal experience. The ongoing influx of foreign investment and foreign workers living here has brought with it western style businesses and amenities, plus international school amenities geared to the needs of ex-pat families. As with any big city, more development tends to lead to higher prices. However, going local can give you an exotic experience on the cheap, if you so desire it. Western style luxury apartments with all the amenities, and also serviced apartments -- such as a pool, gym and security -- can be had for $500-$3000 per month. Check out properties available NOW! Alternately, more authentically Cambodian digs can be rented for less than $300 per month. If your comfort zone involves organic, upscale food stores, you can find that for prices comparable to what you would pay at home. Or you can shop the local outdoor vendors (similar to western Farmer's Markets) for substantially less, often about half price. A western style coffee from a foreign chain can be had for around $3, while a cup of coffee from a local stall is typically well under $1. In fact, the first Cambodian Starbuck's recently opened in the Phnom Penh International Airport. If you just must have a taste of home, it can be found there at typical Starbuck's prices. There is plenty to do and see within the capital, including fine dining, live music, movies and other entertainment venues. But, living in Phnom Penh also gives you easy access to the recently expanded international airport and bus services, making regional travel very do-able for the more adventure-minded types. All of this means that an ex-pat living in Phnom Penh can live what would be a very upper class lifestyle in most large western cities, but on a relatively modest income. A housekeeper can be hired for about $5 per visit, making it affordable to have one come once or twice per week. A mid-price restaurant meal for two is approximately $15-20, about the same as or not much more than you would pay for fast food in many western cities. Plus, simply being here means that when you take a day trip or a weekend jaunt, it is invariably to see things that many westerners would only dream of visiting if they were incredibly rich.The Ex-Pat Work Scene:Most ex-pats in Phnom Penh live on anywhere from $12,000 to $60,000 per year. They are employed in NGOs, the hospitality and tourism sector, education, tech and business. Some are hired to come here. Others choose to simply show up and look for work. Simply showing up is not as crazy as it might sound. Cambodian visas have some of the most lax rules in the entire world, and being here allows one to find jobs via word of mouth that won't ever be advertised online. You can also check newspaper listings if you are here. Some people start by looking at online job listings. The two most popular Cambodian job sites are Bong Thom Dot Com and HRinc.How to Get a Visa:There is a low bar to entry here. Many people get a standard E-class visa by simply showing up. Airports and border check points both allow you to get one by filling out very nominal paperwork and paying a few extra dollars above what a tourist visa costs. For about $300, you can extend it to a year. However, in 2014, Cambodia passed a new law that requires foreign workers to have a government issued work book. This is really a responsibility of the employer, not the employee, and, so far, enforcement has not been stringent.Currency:It may surprise you to learn that US Dollars and Cambodian Riel are the predominant currencies here. In fact, most ATMs dispense US Dollars only (unless otherwise noted). With the exchange rate in the neighborhood of 4000 Riel to $1, it is typical for transactions to be made primarily in dollars, with "change" given in the form of Riel instead of US coins.Popular Ex-Pat Neighborhoods:A popular area for ex-pats is Boeung Keng Kang 1, 2 or 3. Don't worry! Everyone just abbreviates this as BKK 1, 2 or 3. The Russian Market and the Riverside area also have many ex-pats. BKK 1 and 2 are more upscale, with more amenities geared specifically towards foreigners. BKK 3 and the Russian Market both offer an attractive mix of western and local shops. The Riverside area is popular with tourists and has a number of bars and nightclubs. It is, perhaps, less family friendly than the other neighborhoods, but a good place to go if you love the nightlife. More recently, Tuol Kork is a neighborhood about 30 minutes out that is increasingly attracting ex-pats. As with other large cities, commuting to a suburb outside the densely developed downtown area is a good way to find places renting for much less money. Housing:In addition to the aforementioned luxury apartments and local style rentals, Phnom Penh also has French colonial architecture and western style homes tucked away on tree-lined streets. Single ex-pats who choose to share an apartment can find accommodations for as little as $150 per month. Those who choose to live on their own may pay up to $500 for an apartment, depending upon its size, location and amenities. Couples or families are typically looking at costs between $250 and $1000.Should I opt for a long or short term lease in Cambodia? Here are some pros and cons. If you go through a real estate agency to help you find a place, it shouldn't cost you anything as they are typically getting paid by the landlords. They can help you understand what is available and what is in the lease. Just like you would in other countries, it is not uncommon to sign a lease for a set period of time, pay a security deposit and your first month's rent prior to moving in.Here’s how to choose the right Cambodian real estate agent for you!Utilities:Although some landlords cover utilities for you, such as cable, water and trash, they typically charge you for electricity. The typical rate is around $0.25 USD/kilowatt. Read your contract before you sign. Some landlords may try to pad that. Make sure you understand your contract before you sign!English is Common:As with many countries, a lot of the locals speak English. This makes it easier to shop, dine and make friends than you might expect. Many shops and restaurants can assist you in English, even with local goods.Petty Crime:If you look like a well-heeled foreigner, you may find yourself the target of petty crime. This is pretty normal in less developed countries, but Phnom Penh is actually safer than Vietnam and Bangkok. Crime levels have gone up recently, but if you take reasonable precautions, this shouldn't be particularly more concerning than in any big city. Bag snatching is a minor issue in downtown areas at night, especially for western women. This also occurs from the side of Tuk Tuks at night, perpetrated by thieves on motorbikes. To be sure, make sure you keep your bag on the inside of you at all times.Learn more about home and personal security in Cambodia.The State of Medicine in Cambodia:Perhaps you have heard that you should "Go to Thailand" if you need medical care while in Cambodia.It was not that long ago that this was the standard wisdom in the ex-pat community, but medical care has come a long way in recent years. Increasingly, Phnom Penh has first rate doctors available, whether foreign doctors who came here to practice or Cambodian doctors who were trained abroad. Dental care is also comparable to that in more developed nations, while costing far less.None the less, some kinds of procedures may not be available locally. Thus, it is not uncommon for people to go elsewhere if they require certain things. Thailand is still popular, followed by Singapore and Malaysia. Bangkok is particularly popular for OB care. However, even after you factor in travel expenses, you will find that medical care in this region will generally be less expensive than what you would pay in the USA. To give you a general idea of the price range: Visiting a local emergency clinic for stitches, plus two follow-up appointments, can cost less than $300.Getting Groceries:Ex-pats can shop at modern grocery stores for many of the same amenities they would find in a western country, often at prices that are not substantially different, though there are certainly some notable exceptions. For example, apples and are not native fruits here. Since they are imported, they may be surprisingly expensive compared to the prices in your country of origin. However, many ex-pats enjoy checking out the numerous open air markets that dot the city. Similar to Farmer's Markets, these are a great place to get great prices on locally grown produce. Bonus: You may get a chance to learn some of the local language (Khmer) and it puts you directly in touch with local culture in a low risk, comfortable manner. You do not have to be too adventurous to partake of this ex-pat experience, while collecting charming stories to tell back home someday. Ex-pats may love the local outdoor markets with their fresh, surprisingly cheap in season produce, but for more perishable items, like meat and dairy, many ex-pats prefer to shop at stores geared towards western sensibilities. These are western style grocery stores with air conditioning and refrigeration for perishables. Unsurprisingly, they are more readily available in some of the same neighborhoods where ex-pats tend to concentrate, such as BKK 1 and 2 or the Russian Market. You may especially enjoy the lingering French influence that is clearly present at such places. Their bakeries routinely carry croissants, baguettes and other authentic French style baked goods. Most ex-pats can find all their familiar favorites, just like back home. If you are feeling a bit homesick, you can just stock up on all of your "normal" foods and cook at home, giving some of the local eateries a rest for a bit. Then dip back into Cambodian culture again at will, whenever you feel like it.Wine and Spirits:If you are fond of good alcohol, it is surprising how readily available and affordable such things are in Cambodia. Many familiar brand names, such as Absolut Vodka, are readily available, usually for under $20. You can find wine shops and craft beers. There are bars and restaurants that will serve you cocktails. Happy Hour often means cocktails are half price. A can of local beer from a local shop is astonishingly cheap. You can also find experiences such as weekly rum tastings.Local Transportation:Within Phnom Penh, ex-pats and locals mostly travel by hiring tuk-tuk and "motos" (local slang for motorbikes). Tuk-tuks are carriages pulled by a motorbike. Going across town via tuk-tuk should cost around $5. Shorter trips within the city will be less.If you are traveling alone, you can catch a ride for a small fee on a moto. This will be cheaper, but more of an adventure. They are not particularly regulated here, thus most drivers are engaging in a casual form of unregulated entrepreneurship. Pretty much anyone who owns a motorbike can hire themselves out. They do not usually provide helmets for their passengers. Of course, they typically do not wear a helmet themselves either. Taxis can be found, but they mostly service the airport. If you really want a taxi, you should call and arrange one. They do not typically cruise the city looking for passengers, so it is not realistic to assume you can readily flag one down. In 2015, local bus service was established in the city. Unsurprisingly, given how new the system is, routes are limited and service is not yet reliable. This is something to look forward to for the future, but not something you should count on for basic transportation just yet.Travel Outside of the Capital:Phnom Penh’s International Airport is still being upgraded. Its ongoing expansion has added more international flights, both to and from the capital. There are multiple daily flights to Bangkok, Thailand, and Ho Chi Minh City, Vietnam for less than $100. For about $50, you can take an Air Asia flight to their Kuala Lumpur hub, and from there go on to other parts of Asia. Although the local bus service is in its infancy, regional bus service has been around for some time. Thus, it has had the opportunity to mature. Typically for less than $20, you can find air conditioned buses to most parts of the country via Giant Ibis. For not much more money, it is also possible to find buses that will take you to a bordering country, such as Thailand. If you wish to go someplace not on an established bus route or you wish to retain additional control over your schedule, for a bit more money, you can also hire a car and driver to take you anywhere you wish to go.A Magnet for Foreign Nationals:Phnom Penh has much of the charm and opportunity that our parents found in so many places around the world, but which is nearly non-existent these days. This unusually low cost cosmopolitan city offers ready access to relatively obscure, exotic regional destinations. Plus, it has economic access to major markets, such as India, China and Australia. This makes it one of the few places left in the world where educated people from more developed nations can find abundant career opportunity while living like they are on a permanent vacation.Retiree’s Mecca:InternationalLiving.com’s Annual Global Retirement Index has just named Cambodia as 1 of 3 top retirement destinations worldwide. The retirement index seeks to compare and contrast retirement destinations around the world – all of which are exhibiting relatively low costs of living by global standards. Retiring in weaker economies is becoming a global trend for expats from more expensive, developed economies, as the relative costs of living in cheaper retirement destinations guarantees a better quality of life for pensioners. In the past 10 years the Kingdom of Cambodia has become one of Southeast Asia’s most up-and-coming destinations for tourists and expats looking to enjoy the exotic charm of a country that also offers the most attractive cost of living in Asia.Cambodia has flexible visa requirements for citizens of Western countries who can obtain annual long-stay visas with a minimum of paperwork and a processing fee of just $285 per year. When you get there, everything from entertainment to renting is very affordable in Cambodia. Meanwhile, the Cambodian government looks set to make it even easier to retire in the Kingdom…Meanwhile, the government has released plans to increase Cambodia’s attractiveness as a destination for foreign retirees, according to a draft policy from the Ministry of Tourism obtained by the Cambodia Daily. “The draft includes a range of proposals to extract more income from Cambodia’s tourist industry by encouraging foreigners to buy property and stay longer in the country, with involvement from the ministries of tourism, finance and land management,” said the Cambodia Daily report.The proposed policies are said to include measures such as the development of “special residences” throughout Cambodia with commercial tourist properties and a wide range of useful facilities. “Special tourists” such as retirees would have the right to buy, rent or sell property in these special residences, and also be entitled to longer-term and more flexible vi­sas, according to the draft of the policy.Enjoyed the Expat guide to Phnom Penh? Learn more about real estate investment in Cambodia!

Welcome to another real estate news recap, from Realestate.com.kh - your leader in property information! Keep up to date with market changes, and be an investor with FORESIGHT! Cambodia Microlending Industry Expands:As the consumer economy grows, many foreign investors are thinking it wise to establish businesses that would be mutually beneficial for both them and Cambodia. One of the interested companies who want a slice of the pie is Japanese-owned Mothers Financial Japan Plc. The microfinance institution aims to give Cambodia’s microlending industry a competitive edge as it introduces lower monthly interest rates of 1 to 1.8 per cent. This will provide access for 20 to 30 per cent of the 3.4 million families who are still in need of financing.Five More Protected Forests in CambodiaFive forests that were previously owned by the ministry of fishery, agriculture and forestry are set to be made into protected forests as part of Cambodia’s efforts toward biodiversity. Minister Say Samal said that this plan was developed roughly two-and-a-half years ago but had only been approved recently.  Though environmentally geared towards biodiversity, this also means that there’s one less area where infrastructural developments can be made. Will the government decide in the long run that this wasn’t such a good idea and will this affect major investment in potential businesses? We hope not.Cambodia Gives Multilevel Marketing a Chance?Multiple advisories were released before by the Securities and Exchange Commission of Cambodia regarding MLM scams and abuse, but it seems that Malaysian-owned company Zhulian Corp Bhd may be able to convince them otherwise. With plans of business expansion, Zhulian Corp Bhd is eyeing on Cambodia and Laos as another location for investment. With the decline in demand in Thailand, the company suffered substantial loss but ultimately gained thrust once more when they decided to make a few more investments with outside entities and business partners. Zhulian Corp Bhd carries items like jewelry and gadgets. Having said this, it may not be far off too that they would adjust their business model and profit from the country’s growing real estate industry.Preview of Stars of Kovan While Cambodia has had its fair share of profits and loss, Singapore is making headlines as they finally unveil their first commercial development that’s British-inspired. Though a new development concept may not appeal to the general public, it’s estimated to have a grand total of 390 condominium units, five strata houses and 46 strata shop units that will ensure profit for its developers who plan on completing the project by 2020. From Cambodia to Thailand  It’s been no secret that there is tension between Thailand and Cambodia, most especially with regards to Preah Vihear where Cambodian officials had closed the Thai entrance to the Hindu temple complex. This is one of the reasons why Thai soldiers decided to create a scale model of the complex along their side of the border. They hope to attract more tourists to their side as the months go by. Though Thailand may have waged a big game of tug-of-war against Cambodia with its tourist population, Cambodia is still a force to be reckoned especially when it comes to real estate. Research shows that there was a 60 per cent increase in condominium prices since 2009 in Thailand but is still relatively cheap while Cambodia remains to be competitive in terms of its real estate financial affordability.

It seems that in Cambodia Property Valuation, Transparency is Coming fast...Last Tuesday, representatives of the Cambodian Valuers and Estate Agents Association (CVEA) met up with representatives of the Royal Institution of Chartered Surveyors (RICS), a global accreditation firm from the UK, to talk about a partnership that aims to evaluate current real estate ethics and practices and eventually provide an avenue for proper real estate education in Cambodia.This would include special courses, degrees and certifications that would raise the bar for professionals in the field. If successful, this partnership will pave the way to setting a standard for proper asset valuation. In the words of CVEA President, Kim Heang, “From what I see, RICS is a handsome man, and CVEA is a pretty girl, so why not we get married?” We surely hope this marriage gives birth to a wonderful future for real estate.

Jum reap sour!And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.Welcome to the Realestate.com.kh Property Review series. On this week’s show, we’re live at Penthouse Residence showroom in Phnom Penh. We are here with Mr. Imsouchivy Suos of the Penthouse Residence project. See the full listing and inquire today!Tell me about the Penthouse Location: The Penthouse Residence is in the heart of Phnom Penh city, the capital of Cambodia. The Penthouse Residence is a condominium complex that is located in the most developed and fast growth region of the city right along Sothearos Boulevard, just across the street from AEON mall and Sofitel Phnom Penh Phokeethra and very close to many other well-known institutions, international school, embassies, etc. Especially, this project is also very close to many tourist attractions such as the Royal Palace and Independence monument as well as the riverside and Diamond Island (Koh Pich).Who is this development for? What sort of buyers? Mostly middle-income Cambodian family and other foreigner who would like to invest or live in a modern lifestyle. The design concept is very attracting since The Penthouse Residence design is focused on Western Contemporary together with a very unique location, facilities and competitive price available for our customers. Among the 50% sold of our units, we noticed that there are a mixed of investors and customers who are not just from Cambodia but also Canada, USA, France, Japan and Australia.Talk me through the main features; why should a new home buyer consider this development? Beside the unique location, we also a very unique design with the corporation with the world class designer Sangiogior (Italy), 24/7 security, gym/sauna, sky bar, Infinity Pool and the unique glass design which could allow the condo owner to view the city view such as the Royal Palace, Tonle Sap River, Mekong River, Chaktomok River and Independence Monument right from their apartments. Beside this, on the top of our building, there is also first and only world class revolving restaurant to give the customers a 360 degree panoramic view of the city skyline. Surrounded by conveniences of international standard, located next to premium residences and business centers such as the Sofitel hotel, Aeon Shopping Center and ICAN British International School to name a few, make The Penthouse Residences the most desired address in Phnom Penh, especially for the new home buyers.Tell me about the quality of the builder, architect, finishes? We assembled a team of local and international engineers, architects and designers. For both exterior and interior designs are world class approved includes the cooperation with Sangiorgio (Italy), HAFELE (Germany), Cotto (Thailand) and many more. The Penthouse Residence project will be done by the end of 2018 with international 5 stars quality.What types of units are available, at what price ranges? We have different types of condominium available for all kinds of customers:Comfort (1 bedroom)Suite (2 bedroom)EmbassyPresidentThe Penthouse/RichmondThe price range is between USD 80,000 and USD 900,000. Please contact us to learn more.What investment potential is there? This project has so many potentials that is very attractive to our customers. With a very unique locations and reasonable price, our sales was over 30% before the Grand Opening and is over 50% today. We are also willing to rent back the condominium from our customers with 18% rate of the total purchase price within the first three years.What are the main 3 unique values of The Penthouse Residence?          - Reasonable/Competitive price          - Unique location with a lot of potential to growth          - 5 star international standard quality with a very unique Western Contemporary DesignFind out more about The Penthouse Residence!

Grand Phnom Penh International City has just unveiled their wet and wild Water Park, the biggest and best water park that the Kingdom has ever seen! With an enchanting medieval theme, the 8000 square meter water park has a series of slides, inner-tube rides, mechanized water buckets, forts and play areas, and is surrounded by a slow moving moat. If you get tired splashing around, take a break in the café, work out in the gym or, if you really don’t like getting wet, just enjoy the wide open, natural grounds of Grand Phnom Penh International city. Thousands have already visited the water park over Khmer New Year, an oasis during the long hot days of the nation’s biggest festival. The Grand Phnom Penh water park is now open to the general public every day! With tickets costing $4 for children and $5 for adults from - Monday to Friday; and $5 and $7 on the weekends. The park is open to the public from 9am to 6pm.Learn more today!

Realestate.com.kh is extremely proud to be working together with Hong Leong Bank of Cambodia to make your dreams of owning a home a reality. We want to help all Cambodian’s leverage their finances effectively to improve their life, and the life of their families, today! Through this unique partnership, we want to help all Cambodian’s manage their finances effectively to afford the things most important in their lives, ensuring sustained prosperity for businesses, households and the families within - and help you spend less time worrying about money, and more time enjoying your life. Hong Leong Bank (Cambodia) Plc. or HLBCAM is a wholly owned subsidiary of Hong Leong Bank Berhad – one of the leading banks in Malaysia. HLBCAM further cements Hong Leong Bank’s legacy of meeting the evolving needs of customers by offering a broad range of banking and specialized financial services in Cambodia. Relating to their home loan product range, HLBCAM has a 20 year home loan and home investment loan, a 10 year home equity loan and a 10 year commercial mortgage loan all allowing you to borrow up to 70% of market value. Living up to the Group’s tagline of “Reaching Out to You”, the Bank reaches out to its customers in Cambodia through its inaugural head office branch and Priority Banking lounge, strategically located in the heart of the city and 4 other supporting branches throughout the busy Phnom Penh districts. Hong Leong’s vision in Cambodia is to become Cambodia’s ‘preferred’ financial services provider among the leading banks, and our mission is to partner with our targeted business community. Hong Leong strives to help create better value as we fulfill our customers’ financial needs with the highest level of integrity and professionalism, where our highly capable people make the difference. A standout feature of Realestate.com.kh is being able to apply for a home loan directly – and you can even use our clever home loan calculators to work out how much you will likely need to loan, based on the price of the property you are considering. Once you know the value of your dream house or commercial property, with Realestate.com.kh you can apply for a loan directly to Hong Leong with the click of your mouse. This process makes getting a home loan easier than ever before – all from the comfort of your home, office and even from your mobile phone! Find out more today about how you can finance your dream home with Hong Leong and Realestate.com.kh, Cambodia’s home of real estate.

With over 30 years of experience in the property development business, the Taiwan-based TC Royal Manor Co., Ltd. steps back into the Cambodian prime development’s market with their latest project: TK Royal One. TK Royal One started construction in early January 2015 and is slated for completion by the end of 2017. The project is located along the city’s main artery street, Russia Boulevard - well positioned in front of the renowned Royal University of Phnom Penh. The new project is also conveniently backed onto street 122, meaning easy access off the main road for those using the extensive car parking facilities.On your doorstep, find great cafes and eateries, such as Brown Cafe, the Pizza Company and the TK Avenue shopping plaza and cineplex. And for International buyers and those that work in Phnom Penh, TK Royal One is just a 10 minute drive to the Phnom Penh International Airport and the Phnom Penh Special Economic Zone. The project offers both office and residential units, providing state-of-the-art amenities suited to a modern urban lifestyle. Freehold ownership is available to both local and foreign buyers, with prices starting from $2,800 per square meter. And there are more than just condos and offices in this new project - all tenants will enjoy fully managed services such as the gym center, swimming pool and rooftop garden overlooking the entire city. Luxury, security, privacy are the hallmark features of the International Grade TK Royal One project.Taste a life that is defined by modern living - and don’t miss out on this great investment opportunity. Inquire with the professional sales consultant team today!

Realestate.com.kh is extremely proud to sponsor and support the BritCham & IBC Luncheon and Panel Discussion on Property Valuation in Cambodia: "Addressing the Gaps." The development of the Cambodian valuation industry is a core factor is creating a sustainable real estate market. BritCham and IBC in partnership with the Royal Institution of Chartered Surveyors (RICS) and the Cambodian Valuers and Estate Agents Association (CVEA) would like to welcome you to a focused business luncheon on the topic of valuation of property in Cambodia: "Addressing the Current Gaps."Join us on Tuesday 19th April with our panel of experts who will share their perspectives, followed by an open discussion with the audience on the state-of-play of valuation in Cambodia. SIGN UP NOW

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 6: HOW TO DEVELOP YOUR REAL ESTATE AGENCY CAPACITY AND PROFESSIONALISM IN CAMBODIARealestate.com.kh: As a business development director at Vtrust Appraisal, obviously you do a lot of work helping real estate agencies increase their capacity. If you could give maybe the top four tips that you would give for real estate agency development? How to build a successful real estate business in Cambodia?In Sitha: Well, I think the four major factors that should be applied in order to make a successful real estate agency in Cambodia are Location, Human Resources/Training, Investment Capital and Marketing.Location is one of the key factors for a successful real estate agency business. Companies that are physically situated in the right locations for client’s easy access generally have the best success.Number two, human beings. Human Resources are crucial for any real estate agency. And this means the right people for the right jobs. Professional training for the agent shall be important and necessary too, and training should not stop during their career.Number three, Investment Capital. Any new real estate agency must be ready before starting at all for more than short term operational expenses. They need sufficient investment capital for at least three years. We have 2000 in real estate market in Cambodia and it is good. But in fact it's not enough. They have to pay a lot of operational expense. The staff salary, utilities, licensing, certificates, marketing etc etc. Be prepared before you try to start a business, because it won’t start generating money for some time.Number four is Marketing - you need to make your agencies known and respected. The best type of marketing these days is online. Learn more about choosing the right Cambodian real estate agent, on realestate.com.kh today!

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 4: WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERSRealestate.com.kh: We're seeing a real rise in new borey developments across Cambodia recently. Can you explain why property developers are particularly interested in the Phnom Penh Boreys market? Why build a Borey?In Sitha: Okay. This is a good question. In this industry right now are seeing two main types of major developments: Borey development and condo development.Realestate.com.kh: Sorry, I guess for the viewers, can you explain what a Borey is? - Because I know this word is  used a lot in Cambodia, but for people outside Cambodia, maybe they don't know what a Borey is.In Sitha: Essentially, a borey is a gated community of flat houses, twin villa houses and single villa houses, including public areas, gardens and full security services. Those who want to buy a borey home are looking for privacy, a safe place for their family to grow, areas where communities can develop, and a place where all modern amenities are assured. They are they prefered first home of newlywed Cambodian couples looking to start a new family.Most of the local developers choose to invest in Boreys. The reason is that developers themselves gain a lot of profit from investment in borey projects over relatively short investment periods. The customers themselves also buy into a good environment for family living. It is popular with Cambodian people who prefer landed buildings, or flat houses. In the Borey, it’s generally all some kind of a flat house, link house or villa home. It can be one story or two story maximum. They also generally have a common area and playground for children. Check out the Borey buyers guide!Realestate.com.kh: Like a neighborhood. Like a fenced neighborhood. In Sitha: Yeah, that's right.Realestate.com.kh: They have infrastructure, have water, have electricity.In Sitha: All included. Generally, for a home in the Borey, the market price increase yearly from 10-15%. This is a good investment to the buyer themselves. They can buy this year, and next year they can sell. If the market is good, it could be more than 15% appreciation. Compare the interest rate with the bank, it's much better than investing the bank. Realestate.com.kh: Because the Borey  buyer, they own the land right? They have freehold ownership of the land. In Sitha: Yes they own the plot of land that their home is situated on, hard title generally - but best to check!Realestate.com.kh: Now lots of local people move away from the city center to the Borey’s on the outskirts of town right?In Sitha: Yes, that's what you see. The Borey developments are long line investment development projects. Which means that the developer spends much more time on the investment, starting from the early master plans and filling the totally undeveloped land.Realestate.com.kh: Maybe fill the land.In Sitha: Yeah, up to the completion of the development projects. The marketing time also takes longer to promote and ultimately sell it. Borey means one community. And each household  shall pay the management fee. Management fees are reserved for the security, reserved for the public life, reserved for the street cleaning, pool and playground for children- garbage collection as well. Boreys offer great security to families.Realestate.com.kh: More of a community lifestyle too?In Sitha: Yeah, yeah.Check out the latest and greatest borey properties, on realestate.com.kh today!

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 5: COMMON MISTAKES MADE BY PROPERTY DEVELOPERS IN THE CAMBODIAN MARKET, AND HOW TO AVOID    Realestate.com.kh: What are some of the most common mistakes that you see developers making when they first come to Cambodia?In Sitha: Well, the most common mistake that the property developer makes when entering the Cambodian market is moving too fast. Before starting any project a feasibility study is crucial. And they need to get recommendations from professional real estate agents.Realestate.com.kh: They're moving too fast?In Sitha: Before starting the investment, yes. That's why they could not identify the right location for the right project. Developing and selling are not separate. You need to consider your market before you even break ground. Which means that my recommendation, I would like them to use a professional real estate agent to teach the international developer about the local real estate market conditions. At VTrust Appraisal - we can do that. We are experienced and skilled in the real estate industry since 2004. We are the first to get developer and agent license from the Cambodian Security and Exchange Commission of Cambodia. Feasibility study is the most common service that developers request us to do before entering into this market.Realestate.com.kh: So many developers are coming in and doing everything too fast. They think the local market is the same as the Singapore market or Malaysia market and they're very surprised.In Sitha: Yeah, that’s true. First of all they need to do the market research. What is the best area for starting the project? The project is built based on the available investment capital. We would like to get the best return on that investment capital. Realestate.com.kh: The right property, the right price and the right market.In Sitha: That's right.CHECK OUT CAMBODIA'S SMARTEST NEW DEVELOPMENTS

Kampot native, Lun Vuthy, started his career in Phnom Penh working with a Vietnamese company importing secondhand freight containers into Cambodia.While his first employer focused on reselling the containers for storage purposes, Vuthy spent his early working years online on his smartphone surfing innovative container refurb projects around the world.As he surveyed condo blocks, cafes, office centers and recording studios in urban centers around the globe, he soon saw the architectural potential of the metal boxes his business was dealing.“Containers represent a kind of blank canvas. They are just a shell of of a building, but the artistic interior and exterior design possibilities are endless,” says Vuthy.Three years ago, Vuthy’s Vietnamese employer closed up shop in Phnom Penh and left the Cambodian market. Vuthy kept the list of container import contacts and launched his own startup business: Vuthy Container.Three years later, the 28 year old real estate entrepreneur has 15 staff and growing, and is involved in an eclectic mix of container-based real estate development projects.For the first year, Vuthy’s bread and butter was mobile office space. Vuthy buys the container shells from China, Vietnam or Korea at around $1000 per piece, and then sets about upgrading them for specific residential and commercial uses.Fully fitted office containers, complete with carpet, insulation and air conditioning sell for around $3000 for a 25 square meter unit. These have proven a hot ticket for construction and development companies, farmers, factory owners and those in need of supplementary business space. Some local TV stations have also implemented Vuthy’s containers as noise-proof recording studios.Yet, nowadays Vuthy isn’t just dreaming of more adventurous real estate projects.The most unique and extensive project to date is K-Race Container Pub on street 59, Daun Penh. K-Race Container Pub is a bar, restaurant and live music venue made from a set of 20 connected freight containers.For this project, Vuthy Container worked closely with the architect to create a creative but functional venue. K-Race, now open for business, plays on the industrial theme, waited by staff adorned in hard hats and overalls. The interior of K-Race is also defined by recycled features, such as the bottle windows and re-fashioned 40 gallon drum loungers.Another upcoming project will see Vuthy Container working closely with a German/Malay couple designing and building a Bungalow style hotel in Kampot, again consisting of a collection of recycled containers.A Singaporean F&B vendor in Phnom Penh is also working with Vuthy to launch an inner city cafe with a collection of six containers.Vuthy too sees significant opportunities for his enterprise to enter the Cambodian affordable housing market. For less than $6000 per unit, a 30 meter square container can be renovated into a 3 room abode, subdivided into a toilet, bedroom and livingroom/kitchen.The ease of stacking containers into blocks of apartments also create the potential for land-size-sensitive urban affordable housing projects using containers.By insulating with materials such as styrofoam and mineral based “rock wool” and installing vents, fans or aircon, as per the end user’s needs, Vuthy manages to create extremely price effective and highly livable spaces.Vuthy remarks that, “Containers are well suited to the Cambodian market - and especially in the cities. They are very affordable, they are structurally sound and weatherproof, they take up only a little space - and they are always available.”“By reusing and re-purposing containers there are a lot of winners.”Get in touch with Vuthy today: 089 / 098 / 068 822977

From 8:30AM on Saturday 12th March 2016, The Penthouse Residence proudly broke ground for their exciting new project onsite on Sothearos Boulevard. The ceremony was graced by the presence of most honorable guests, including H.E. Oknha Ly Hong and other key shareholders of the project.SEE THE FULL LISTINGAs expressed by Sunna Lee, Shareholder and Sales Coordinator for the Penthouse Residence, “For the first five weeks, we have already sold over 50% of our condominium. This is due to our unique location, design and the offering the best off-plan price for our customers.”Sunna continues, “This event marked our promised delivery to our valued clients because we want them to know that their investment starts from the moment that they signed their contract with us. Our projects started the groundbreaking/construction even before our showroom is finished. This illustrates how much progress we have made since the inception of The Penthouse Residence’s venture.” The Penthouse Residence are strategically located on Sothearos Boulevard and architecturally designed to meet the demand for luxurious condominium living within the contemporary city of Phnom Penh, Cambodia.With its bold and innovative architectural design, nothing has been spared in creating Cambodia’s first luxury condominium development. 36 floors of luxurious residences complemented by every amenity will result in nothing less than lavishing, from the spectacular panoramas of the city skyline to the attentive services of the concierge and dedicated management team.The Penthouse Residence comes with roof top terraces, infinity swimming pool, fitness center and the first and only world class revolving restaurant in Phnom Penh, giving you a 360 degree panoramic view of the city skyline while you drink and dine. Surrounded by conveniences of international standard, Penthouse is located next to premium residences and business centers such as the Sofitel Hotel, Aeon Shopping Center and ICAN British International School to name a just a few key venues. Learn more about this exciting project today on Realestate.com.kh: SEE THE FULL LISTING

Undertaking a robust development appraisal (feasibility study) can make or break a project. What Makes a Development Feasible? Understanding the inputs to a model and how these can be affected and manipulated is key. This is a full day RICS Training session. In the morning, participants will cover the key terminology, principles and inputs relevant to a Development Appraisal and in the afternoon, through case studies and a practical session, candidates will construct their own development appraisal model.This session focuses on Commercial, Retail and Industrial property. The session will be particularly useful for: Property Agents – seeking to better understand and market developments/land. Property Owners & Analysts – looking to sharpen their skills in development feasibility. Quantity Surveyors and Project Managers – looking to better interact with clients and developers. Property Valuers, Developers – seeking to construct a feasibility using best practice techniques. Banks & other financial teams – looking to manage risk better. By the end of the course, delegates should understand:  Underlying Principles & Terminology (DCF, NPV, IRR)  Key Property Development Performance Indicators  What makes a development feasible  Determining Land Values  Principles of Financing Modelling  Stages of a Development Appraisal  Development Preliminaries  Development Constraints  Case Studies  Building your own Development Appraisal Model About the Speaker: Tim Peisley, National Training Manager, Estate Master Tim has been working as a highly experienced training manager and technical writer for over 10 years with large commercial institutions. As a certified trainer and workplace assessor, Tim is responsible for training the Estate Master suite of products extensively in the Asia-Pacific region delivering content for all levels of property professionals. Having studied within the property industry, Tim works to bridge the gap between technology and the property industry across the Asia Pacific region. Tim is also the Estate Master Coordinator for the International University Partnership Program where Estate Master partners with universities around the world and assist them in educating their students on the principles of discounted cash flow, development feasibility and valuation. For registration, please email to Mr. Seyhak Bun at admin1@ibccambodia.com OR Ms Linda Kwok at LKwok@rics.org

Even though the sounds of construction ring across Phnom Penh, the Cambodian real estate market still needs development in terms of consistency and quality to encourage a higher rate of FDI in real estate.  Nevertheless, in the eyes of many investors, Cambodia is demonstrating the political stability and consistent economic growth necessary for confidence in new foreign investments. The director of Khmer Real Estate, Mr. Kim Heang, said that the real estate development in Cambodia is showing great potential as the Cambodian economic sector is rising by around 8 percent per year for the last 20 years. Cambodia in becoming an increasingly attractive place for investors because Cambodia today has better infrastructure, low labor prices, and 70 percent of people are under 35 years old. These factors are the most encouraging for investors, believes Heang.    ​He went on to say that the growth of the construction sector is demanding more responsibility and respect, as it is becoming a crucial industry for the nation’s growth and people's’ wealth. “Now Cambodian valuers and agents are also rising in their abilities and professionalism in order to prepare for the Asean economic community integration” he said. “Cambodia is one the leaders in economic growth within Asean, and we will step forward into the future as a strong market”.   General Director of Century 21 Mekong, Chrek Soknim, said that he is optimism about the growth of real estate in Cambodia. “This should continue to grow sustainably until 2018 because the sector faces no impediments.” He claimed that there are three factors currently supporting the growth of the real estate market sector. First of all, good political stability is important to attract more investors. Secondly, the Asean integration at the end of this year will mean more commerce and cultural exchanges between Asean states, naturally supporting demand for accommodation, investment properties and office space. Thirdly, the increase in quality and variety of available real estate will allow investors more choice when they buy real estate in Cambodia. And Forth, the royal government of Cambodia will soon be able to grant loans to its citizenry on long repayment terms of 20 years and higher, meaning more people will have credit to buy their own homes. When the majority of people are able to buy a house, then the construction and real estate sector can only grow.   “Even though new development projects face some obstacles in the coming years, if they choose the right location, and build to the right quality standards, these problems will be limited,” he added. He mentions that the economic growth rates of 7 to 7.5 percent are ideal for business growth, and will also support the real estate market development industry. Sear Chaylin, general director of CL Realty Estate, said that the property being sold has decreased a little bit in a last few months, but this is normal when the rainy season is coming. During this period, buyer transactions are usually slower. It will increase when Cambodia is ready to integrate with ASEAN at the end of this year. Many Japanese companies are now flowing into the Cambodian market, bringing new challenges and opportunities to the market. “I think that the real estate market and property sector will continue to develop because the needs of the people are rising, strong economic growth is occurring alongside relative political stability, and security in the market is better than ever,” Mr. Sear Chaylin said. “Even though we are seeing increases in construction, it will be suitably matched to the current economic growth and the needs of the people”. Senior National Economic Counselor, H.E Mey Kalyan said that “for instance, when we buy fish, vegetables, and rice today, then we can eat. But, if we buy a house and property, we cannot eat the benefits immediately. We have to keep it for a long time and it represents a big risk. If you don’t have enough money, you can borrow that money from the bank in order to invest, and hope that it will gain profit in the future. However, if the house is not sold or rented, people will not have money to pay back to the bank and, if this happens to too many people, the bank will collapse. When banks collapse the financial system and national economy is in great jeopardy.”       “Be careful if you are building for rent or sale, then you cannot rent or sell upon completion - this is a big problem. So, control your risks and always try to limit your chances of failure.” H.E Mey said. “The royal government of Cambodia can see this risk. Be careful, because any sector growing so fast has risks like this.” H.E Kalyan went on to say that the government should manage the flow of money in the right way in order to control this growth risk. But when you prevent the flow of money, the growth of the economy can suffer. Therefore, the management of money flow must play a balancing role into the future. H.E Mey Vann, General Director of Financial Industry of Ministry of Financial and Economy, said flows of money into the real estate market sector have come with few risks thus far, but the ministry is being proactive in working with investors in order to manage the data of development, demands, and specific support for preventing risk in this sector. “Data management and money flow management in this sector is very important for us if we want real estate development sustainability” H.E Mey Vann said. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.

The Cambodia and other Asean member states will integrate into the economy and cultural community on 31 December 2015. This will open the profit of the entire economy to all of the 600 million people in this region, allowing more shared benefits and improved living standards for all. Dr. Sok Siphana discusses how this opportunity will challenge and benefit Cambodia.How does Cambodia prepare for the Asean economic community integration at the end of this year?Dr. Siphana: Cambodia has already prepared for the Asean integration but now we look back in the context of the last 10 years of Cambodian economics. Particularly, in the previous decades, Cambodian Prime Minister Hun Sen pushed Cambodia to become a member of the World Trade Organization (WTO). In the context of negotiation, Cambodia opened some policies such as tariff cuts, free flow policies for investors, and some freedoms within major industries.Cambodia has improved in the last 10 years and become very friendly to foreign investment. So, Cambodia has in many ways already prepared for the Asean integration, now we face the second phase of a deeper integration.    The regional economic integration is to join markets all over the region.Our problem is to communicate with the investors effectively because Cambodia has a medium to small market, only 15 million in population, and most of these people do not have enough money to invest. Therefore, Cambodia needs to tap into the biggest markets before the Asean integration. Cambodia will succeed in its goals and become the member of a region which has more 600 million people.   Our prime targets are not places such as Indonesia, Philippines, and Brunei - which have many islands and are a long distance from Cambodia. But when we think about our position in the sub-region with Laos, Vietnam, Thailand, and Myanmar, there are more than 200 million people easy to access. So, Cambodia has more opportunities when we open our policies to welcome investors to Cambodia. The investors always expect to sell their products to Europe, America, China, and Japan before coming here. But now, the investors come to Cambodia to tap into more markets within the subregion.Why do the investors come here? What special factors does Cambodia have?Dr. Siphana: Why? Because Cambodia has free policies for investors. Before negotiating to be a member of WTO, Cambodia had already opened its market. With this point, Cambodia’s policies were opened to permit investors to own 100 percent of their Cambodian-based company. Generally, if we run a business in any country, we want to manage and control that business entirely, and in Cambodia this is possible. We have one problem in that foreigners cannot buy land, but we have prepared and corrected some laws which permit foreigners to buy above the first floor of apartments.Therefore, some problems have not yet been solved because they relate to Cambodia’s constitution, specifically foreign land ownership limitations, but we can solve these problems somewhat by allowing them investment opportunities in Cambodia. Cambodia between the big markets such as Vietnam, Thailand, and Myanmar meaning we will see a lot of cross-economy traffic. And Cambodia is one of the joint regional product producers.How do Cambodian people and entrepreneurs catch this opportunity?Dr. Siphana: In the last 10 years, Cambodian entrepreneurs and intellectuals have a chance to gain more capacity and skills because of the free market. The development of the country is not only building the bridges and roads so that it is easy to walk, but also gaining knowledge and skills. The opening of free markets gives a chance for Cambodian youth to study abroad and apply equally in the global society. Learning from other countries is fundamental to their success when competing in the region. Local producers are worried they will lose their market share when Cambodia joins ASEAN - because only 2 percent of enterprises produce products to correct quality and safety standards.What do you think?Dr. Siphana: I would like to disagree with this. What have we achieved since the civil war ended? Take a look at new enterprises we are capable of, like Khmer TV series, movies or videos, and digital marketing.If we try to survive on only 2 percent of possible products, we will die. But in the last 20 years, Cambodia did not have 50 thousand different enterprises available. Today we do. Because of this growth in opportunities, we cannot say that Cambodia has only 2 percent of our businesses able to compete with others. Therefore, the important thing is providing technology and education that will allow Cambodian youth to compete on even ground.The opening of the economy has given abilities and new skills to Cambodian people and entrepreneurs for 20 years already. They grew the businesses and studied from them. There were not many entrepreneurs before, now we have two percent of 50 thousand enterprises which are able to compete. And what the Cambodian people are best able to compete in is technology. We did not have abilities to research the technology before, but now we have human resources who are quickly able to compete when we have the right technology.For example; we can produce a modern camera and use it very well. Recently, we can buy modern technology and packing machines for our factories. So, don’t think that we are lost in this sector. In the context of fast development where technology can step us forward faster than ever. Another example is Keo Mom, now the CEO of LyLy Food Industry. She had a dream for her business that went beyond making a stamp on the industry. Before her company produced a small amount of products and worked very hard to survive, but now her company can export to the United States, Canada, and other countries with modern technology. So that means we are able to import technology, and improve our industry fast.We were dependent on ourselves for the last 20 years. However, now our young generation are knowledgeable enough to tell their parents what technological systems they need to buy to improve their business. Therefore, a Thai company that has been around for the last 20 years is not automatically better than us. If the world has modern technology available, Cambodia can buy it, Thailand can buy it, and also Vietnam can buy it.That is why I want Cambodian enterprises to use technology as the power to overcome our competitors. The foreigners are not better than us, and we are not cleverer than them. But, technology makes the company and entire enterprise smarter. Now, Cambodia can build 20 storey skyline buildings. The ground breaking is done by Cambodians using machines and technology. This is just one example, but we can follow up with many others.What if all skilled Khmer labour is absorbed after the Asean integration and we don’t have enough human resources?Dr. Siphana: I think that if we don’t have knowledge, we have to look for the knowledgeable. If we are ignorant, we have to work with intellectual people. If we don’t have any money, we have look for those that have. We don’t think about the competition, at first, we think about the cooperation. After cooperating, we have some basic knowledge to learn and grow from.It doesn’t mean we steal skills from others, but we have worked with them for a few years, and now we can run the business ourselves.   Don’t think we cannot compare ourselves to others. We have already come a long way - because our country just finished the civil war only 20 years ago and since we have seen economic growth of 7 percent every year.There aren’t many countries that have done what we have done in 20 years. However, we have to recognize that we still have negative points as well. They know better than us in some cases, and have had more experience than us. With this in mind, it doesn’t mean we are unknowledgeable. We should not feel hopeless and jump off the bridge.We have to try our best to be better than others. There are so many technologies to study. Social networking (Facebook and Twitter) is fundamental knowledge today. But you do not take pictures of your birthday cake and post it on your business page - you must research about enterprises, talk about technology etc. These things will give more benefits than posting about useless things.During 1993, I worked as a law councilor of the UN. I was worried because there was no law documented, but now the government of Cambodia was asking me about the laws. I spent only a few days researching it. We went to cafés to research, because it had internet connection. Therefore, I think technology is crucial to modernization the economy.It is used it to strengthen our fundamental capacity. Then we have ideas and look for the partners who can understand. After that, we can do it by ourselves.   It is said that Cambodia has already opened to the global economy.So, is the economic integration at the end of this year really going to change much beyond the status quo?Dr. Siphana: We haven’t integrated into the Asean economic community yet. But we have already prepared for some investors who are surveying the market. Even though it has not been opened yet, the growth of the economy is still progressing. Even if you don’t want it to, it will go forward. When the market has not been opened, Cambodia only has a 15 million population cap. This is the psychology. But when Cambodia is integrated, it will not be analyzed as a market that has 15 million. It will be analyzed as a country with 600 million. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.Find out the best real estate news on Realestate.com.khLooking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Most people dream of living in a house near the clean, blue ocean, surrounded by mountain ranges, with only fresh, clean air to breathe. With this dream in mind, increasingly foreign investors are coming to Cambodia to build the first condos on the seaside.After Phnom Penh city, Sihanoukville is the latest destination to attract attention from international condo developers. Currently, there two Sihanoukville condo projects underway by Singaporean investment companies, namely Sunshine Bay and D’Seaview. The lush views of the seaside in Sihanoukville are attracting Khmers and foreigners alike for vacations and leisure, hence developers of resorts and apartments are coming too. The director of Khmer Real Estate and CVEA president, Kim Heang, is happy to see growing investment in Sihanoukville and said that although condo projects are coming too soon for market demand, eventually people will want to live there. At present, he said some people don’t know how to live in condos and there are only a few people buying or selling property there. He continued to say that whether the two projects currently under construction are successful or not, will depend on the ability of the companies to persuade customers to buy, to build to high quality standards, and their ability to allow customers to pay step by step. This is because some companies have announced they will sell buildings prior to construction - but Heang worries these companies will never build the buildings. They appear to be waiting for money from buyers in order to pay for construction costs. He said some investors who invest in Sihanoukville condos may be successful because they will be pioneers, and partnering with well known Singaporean companies. Kim Heang believes that currently, investing in Sihanoukville hotels and guesthouses is increasingly popular and successful and maybe a better option than condos. Sunshine Bay invested 100 million dollars to buy 10,800 square meters of land on the Sihanoukville coast. It will build 3 condo towers, totaling over 700 units. Construction should end by 2019. Two 25 story towers will be condos, and one 35 story tower will house a hotel. The D’seaview project of Camhomes company will have 735 units over two towers. The HLH Group has invested around 50 million dollars in the project. Construction will be completed at the same time as Sunshine Bay - in 2019 as well. Having opened a new office in Sihanoukville, director of Town City, Vorn Chanthorn, said condos are a new market concept for Sihanoukville people. Condos may be well-suited to some wealthy families who can afford a holiday home that they can use intermittently for vacations, or otherwise rent. He says selling condos is easy in Sihanoukville, but that success depends on the price per unit and the honour of the company developing. Investors often visit the coast for leisure, especially the Chinese, therefore it will naturally attract more investors in future. Director of Lucky Real Estate, Dit Channa, said the Sihanoukville condo market in Sihanoukville will be very good after people's lifestyles change to a point where living in condos is understood as good and acceptable. Condos are modern and comfortable and these new projects will bring great variety and modernity to the Sihanoukville market in the near future. He added that Sihanoukville condo projects will be successful - but it will take a long time to come to fruition. The vision of the government is to develop industry through 2015-2025, and Sihanoukville is set to be the hub of this industrial development. It has great potential as it has direct access to the nation’s largest shipping port and an international airport. In December 2015, the government announced that Koh Rong island will become a city and a special economic area of Sihanoukville for national and international tourists increasing every year. Sihanoukville airport now welcomes more and more flights from China, Korea and Siem Reap province. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.