Nestled away in the center of Southeast Asia, Cambodia has become a vibrant and alluring destination for international investors. With a youthful and expanding population, a thriving economy, and a rich cultural legacy, Cambodia presents an ideal environment for investment. Sharing borders with Thailand, Vietnam, and Laos, the nation's advantageous location serves as a gateway to the larger ASEAN market, which is home to more than 650 million people.The economy of Cambodia has shifted from its agrarian roots to include thriving industries like textiles, tourism, construction, and real estate thanks to the government's strong promotion of foreign direct investment (FDI) through a variety of incentives. Navigating Cambodia's legal environment, especially its foreign ownership in Cambodia’s regulations, can be difficult despite the country's great potential.These regulations place particular limits, particularly on foreigners' direct land ownership, in an effort to strike a balance between promoting investment and national interests. However, options like long-term leases and ownership of stratum titles provide foreign investors feasible paths. Introduction to Cambodia's Investment LandscapeOver the past ten years, foreign investors have found Cambodia's investment landscape—particularly in the real estate sector—to be increasingly alluring. Together with a young and vibrant labor force, the nation's advantageous Southeast Asian position has accelerated economic expansion and urbanization. There is a real estate boom in major cities including Phnom Penh, Siem Reap, and Sihanoukville due to an increase in demand for residential, commercial, and industrial properties.Through the implementation of investor-friendly regulations, such as the creation of Special Economic Zones (SEZs) and the streamlining of the business registration procedure, the Cambodian government has been instrumental in promoting this growth. Furthermore, by providing preferential market access, Cambodia's membership in regional trade agreements—most notably the ASEAN Economic Community (AEC)—improves its attractiveness. Despite these advantages, foreign investors must carefully navigate foreign ownership in Cambodia’s laws and requirements, which are distinct and can be complex. For instance, while foreigners are allowed to own property in Cambodia, they cannot own land outright but can hold strata titles for properties above the ground floor. Understanding these legal nuances, including leasehold arrangements and investment incentives, is essential for mitigating risks and ensuring a smooth entry into Cambodia's vibrant real estate market. This foundational knowledge equips investors to capitalize on the opportunities while adhering to local regulations, thereby fostering sustainable growth and profitability. Legal Framework for Foreign OwnershipThe legal framework governing foreign ownership in Cambodia is primarily derived from the Cambodian Constitution, the Law on Investment (LoI), and the Land Law. Understanding these laws is essential for foreign investors seeking to establish a presence in the country.The Cambodian ConstitutionThe Cambodian Constitution is the supreme law of the land. It plays a crucial role in shaping the country's real estate landscape. Article 58 of the Constitution establishes that land and other natural resources in Cambodia are considered state property, which has significant implications for foreign ownership. Article 44 further reinforces that "only natural persons or legal entities of Khmer nationality shall have the right to land ownership."  This effectively prohibits foreign individuals and entities from directly owning land in the country.However, the Constitution does allow for foreign investors to acquire land through long-term leases ranging from 15 to 50 years, as well as to own buildings and structures through locally incorporated companies where Cambodian nationals hold at least 51% ownership.  These legal structures enable foreign investors to participate in Cambodia's real estate market while adhering to the constitutional restrictions on direct land ownership.The Law on Investment (LoI)The benefits and protections offered to foreign investors are outlined in the Law on Investment, which was first enacted in 2003 and revised in 2021. By providing security from state meddling, guarantees against nationalization, and the ability to transfer funds and earnings overseas, it seeks to foster an environment that is favorable to investment.The main organization in charge of overseeing and promoting foreign investment in Cambodia is the Council for the Development of Cambodia (CDC), which is home to the Cambodian Investment Board (CIB). For investors, the CDC offers one-stop services that expedite the process of acquiring required permits and approvals.The law itself aims to create an open, transparent, and favorable legal environment to attract both domestic and foreign investment. Specifically, the law provides important provisions related to real estate investments. It allows foreign investors to acquire long-term leases of up to 50 years, with the possibility of extension, to access land and property. The Land LawThe Land Law of Cambodia, initially implemented in 2001 and subsequently modified, is the basis of the nation's real estate industry. The legislation defines the procedures for transferring and registering land and makes clear several forms of property rights, including as ownership, leases, and concessions.Only citizens of Cambodia and legal companies with at least 51% Cambodian ownership are permitted to directly possess land under the Land Law. Nonetheless, foreign investors can purchase buildings and structures through locally incorporated firms and obtain long-term leases of up to 50 years.The law also allows foreigners to own up to 70% of private units in co-owned buildings, such as condominiums, from the first floor up, excluding the ground and underground floors. The Land Law, along with the 2007 Civil Code and the 2011 Law on the Implementation of the Civil Code, forms the main legal framework governing real estate transactions in Cambodia. At Last, Foreign ownership in Cambodia laws present both opportunities and challenges for investors. While restrictions on land ownership and sector-specific regulations exist, the country offers a favorable investment climate with numerous incentives and protections. By understanding the legal framework and adopting best practices, foreign investors can successfully navigate the Cambodian market and capitalize on its growth potential.FAQsCan foreigners own land in Cambodia?> No, foreign individuals and entities are not allowed to directly own land in Cambodia. However, they can acquire land through long-term leases (15–50 years) or by setting up a landholding company wherein Cambodian nationals hold at least 51% ownership.What types of properties can foreigners own in Cambodia?> Foreigners can own condominium units in Cambodia, provided that the total foreign ownership in the building does not exceed 70%. They can also hold leasehold properties for 15 to 50 years, with the possibility of extension.How does the new Law on Investment affect foreign investors?> The new Law on Investment aims to modernize Cambodia's investment environment by simplifying registration procedures, strengthening investor guarantees, and encouraging investments in strategic sectors. It offers incentives such as income tax exemption and customs duties incentives for qualified investment projects.Will the reinforcement of foreign ownership laws be made retrospective?> Based on precedents in other areas, there have been no retroactive penalties or nullification of sales for properties transferred into a foreigner's name. However, the future consequences for foreigners holding soft title properties in their own name remain unclear.What is the process for foreigners to acquire property in Cambodia?> The key steps include conducting due diligence, consulting with a lawyer, negotiating the purchase, signing the contract, making the payment, applying for property registration, paying taxes and fees, and obtaining the property title.

We are past the halfway mark in 2024, and diversifying the range of international investment into Cambodia has been a key shift of the government under Prime Minister Hun Manet and part of the Pentagonal Strategy which aims to grow employment, equity, efficiency and sustainability to and work towards realising the Kingdom’s goal of becoming a high-income country by 2050.We look at some of the key international diplomatic and economic missions that have seen deals signed in the first half of the year, and how competitive the Kingdom is in making it easy for international investors to visit.Cambodian Investment 2024 To DateIn alignment with the Pentagonal Strategy implemented by the Cambodian Royal Government in 2023, the Asian Development Bank (ADB) launched its new country partnership strategy for Cambodia for the same period of 2024-2028. Just one aspect of this is plans to accelerate private-sector-led economic diversification and also a focus on climate adaptation initiatives in agriculture, water resource ecosystems, and urban infrastructure.The latest report from the Council for the Development of Cambodia (CDC) released in July, indicated they have thus far approved 190 new projects, production expansion projects, and special economic zone investment projects worth a total investment of USD $3.2 billion in the first half of 2024.The industrial sector accounted for USD $1843 million (over 55 per cent), and infrastructure and other sectors at about USD $753 million (23 per cent).From a real estate development and property perspective, these investments include:Establishing and operating 2,870 five-star room hotels and business centres located in Sangkat 4, Sihanoukville, with an investment capital of over USD $500 million.An investment project to construct a multi-purpose port and logistics centre in Kampong Chhnang, with an investment of over USD $100 million.Increasing International Economic Investment & AgreementsMost recently, following a meeting between Prime Minister Hun Manet and Japanese Foreign Minister Kamikawa Yoko, Japan and Cambodia agreed in principle to expand cooperation on infrastructure with the development of the Sihanoukville Autonomous Port as a key focus, while there are ambitions to further attract Japanese investment.It was also reported that the Japanese government will provide approximately USD $2 million in financing for Cambodia to expand its electricity network in the Cambodian capital.July 2024 also saw the Cambodian Prime Minister meet with the Ambassador of Malaysia, and the Ambassador of Germany to Cambodia to look at ways of boosting and facilitating trade and investment as well as specific projects in the commercial and tourism sector, for example.The second France-Cambodia Business Forum is also taking place in July 2024 with sectors such as construction and infrastructure, digital technology, healthcare, energy, urban planning, tourism, logistics and transportation, agriculture and agri-food, all under discussion.There were also key State visits to France, South Korea, Laos, Thailand, and Australia in 2024 which all announced economic developments and Memorandum of Understandings across a range of sectors.Read more on the Top 5 Reasons Why Investors Choose Cambodia.Visas and Entry to CambodiaIn July 2024, Cambodia implemented a new e-immigration application process for all arrivals, including tourists, expats, and Cambodians.  The Cambodia e-Arrival (CeA) scheme requires travellers to complete an online application within seven days of arrival even if they have been granted a visa (having completed this recently, it's a very simple process and much more convenient than the old paper system - which was still an option to arriving passengers on our flight in July 2024.)Visas still need to be applied for separately, and this is one area where Cambodia is arguably falling behind its regional neighbours.Thailand has visa-free entry for a number of countries (and actually no paperwork, physical or digital, is required), whereas Vietnam has also extended the length of stay for visas or a select number of countries. Competition for Chinese visitors in particular is increasing, and Laos has also announced temporary visa facilitations from July until the end of the year which offer citizens of China, including Hong Kong, Macau, and Taiwan, visa-free travel for up to 15 days. Citizens from certain European countries can also visit Laos visa-free for up to 15 days for tourism. The duration of stay for a multiple-entry visa has been increased from 30 to 60 days and citizens of 22 countries can apply for multiple-entry visas.Indonesia also announced plans to allow for visa-free travel to citizens of 20 countries (including China and India).Can Foreigners Own Land in Cambodia?As a reminder for all foreign investors, direct land ownership is restricted to Cambodian citizens or Cambodian entities, however, there are alternatives for foreigners who want to control land in the Kingdom. Find out more in Five Things To Consider Before Buying Property in Cambodia.Establishing A Landholding Company: Foreigners can buy land by forming a Cambodian company, which must have at least 51% Cambodian ownership.Trust Company: Allows a foreigner to buy land in Cambodia through a trust company, which must be registered with the Ministry of Economy and Finance. This covers various types of real estate including land, with the company acting as the property manager.Leasehold Property: Foreigners can buy a leasehold property, giving them 15 to 50 years of access to the property, renewable for another 50 years. This allows them to develop and construct structures on the land, though the land itself remains state-owned.Nominee Structure: Foreigners may seek a legitimate partnership with a Khmer citizen or use a nominee arrangement where a local acts as a silent shareholder.Not nationally implemented, but the Special Investment Promotion Program For Sihanoukville In 2024 offers another alternative investment mechanism in this specific region.

The Realestate.com.kh Property, Business & Lifestyle EXPO 2024 is coming this 19th and 20th of October 2024 (Saturday and Sunday), and it’s bringing exclusive deals and promotions from Cambodia’s leading borey and condo developers, banks, insurance, and many services for your home needs!A WORLD-CLASS VENUEThe Realestate.com.kh Property, Business & Lifestyle EXPO 2024 will be held at the Premier Center Sen Sok. This grand venue is well-known among Cambodians, expatriates, and foreign investors for its wide spaces, accessible roads, and is directly adjacent to AEON Mall Sen Sok, one of the largest purpose-built shopping malls in Cambodia today.WHO WILL BE AT THIS YEAR’S EXPO?Anything and everything related to Cambodian property will be at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024, including the most renowned property developers such as Chip Mong Land, Prince Real Estate Group, Canopy Sands Development, Borey Lorn City, Borey Phum Sakura and more.But buying a property is usually more than just the property itself. And this is where the advantage of buying at the EXPO truly shines. Not only will buyers be able to secure some of the best deals ever at the event, but the leading banks and insurance companies will also be exhibiting and running special loan offers and coverages for your home and other property needs. Buying and securing your property does not need to be a hassle when you can do it all at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024!It promises to be a fantastic day out for the whole family, featuring an array of engaging activities complemented by a delightful selection of food and beverages by the provided sponsors.CAMBODIA’S BEST REAL ESTATE SEMINARS & TALKSVisitors will be able to attend property and business-related seminars, delivered by leaders in the industry. Seminars will include real estate trends; how to find the best opportunities in the market; what to look for when buying your first home; updates on Cambodia's economy; and future infrastructure developments.A LOOK BACK ON THE 2023 EXPO More than 10,000 attendees, 100’s of Cambodia’s biggest brands, developers, agencies, banks, and insurance companies gathered for the country’s biggest property show of the year. The Real Estate EXPO 2023 held at the Koh Pich Exhibition Center last August was a success with over $15 Million worth of property sold over the weekend. The EXPO has solidified itself as part of the industry’s calendar of events as middle-class and affluent Cambodians, as well as expatriates and foreign property investors, attend the EXPO successfully securing the best deals and opportunities in real estate. Pre-registration is LIVE! Sign up now to get express entry at the event and updates on who will be joining the Property, Business & Lifestyle EXPO 2024 this coming October 19th and 20th. Register now!  RESERVE A BOOTH OR REGISTER TO ATTEND

Tuol Kork has emerged as an ideal choice for living and investment for many property seekers. According to realestate.com.kh’s internal data from the first quarter of this year, the district ranked among the top three preferred locations. But why is this location attractive to prospective buyers and renters?This article provides an overview of Tuol Kork and its growing appeal for property investment.‘Elites’ Preferred NeighborhoodThe district is located in the northern part of the capital and it is well-known to be where Cambodia's elite reside. It has the reputation of being where governmental officials choose to live in Phnom Penh. Multiple villas and mansions can be seen throughout the neighbourhood as the area is a preferred choice for families. Residents of Tuol Kork seek a safer, quieter, and more residential atmosphere in contrast to the bustling downtown of Phnom Penh.Well-Connected AreaThe intersection of Street 598 and the Russian Federation Boulevard serves as the main gateway to Tuol Kork. The access roads are much bigger and wider as compared to other areas of the city. Within a few minutes of driving one can reach the communes of Russey Keo, Daun Penh, Chamkarmon, Mean Chey, and Sen Sok.‘All Can Be Found’ in Tuol KorkFun Mall in Tuol Kork is where one can find an array of restaurants, and shops. (Credit Fun Mall)When renters and buyers search for properties, a prime location typically includes well-rounded development and amenities. Tuol Kork continues to expand with new developments that are enhancing its appeal.The district has a variety of restaurants, cafes, supermarkets, clothing stores, and entertainment places for all budgets. In the surroundings, residents enjoy proximity to popular shopping centres such as The Commune, TK Mall Avenue, and Fun Mall making it a convenient place to live and be entertained. Moreover, Tuol Kork provides easy access to AEON Mall 2, Makro two popular shopping centres in Sen Sok and the Phnom Penh International Airport.The district has a range of educational institutions such as international schools, the Royal University of Phnom Penh, the Institute of Foreign Languages, and the Institute of Technology of Cambodia, which makes it ideal for families.Lastly, key governmental bodies such as the Ministries of Health and Ministry of Labour and Vocational Training along with several commercial businesses are situated along the main thoroughfares of Tuol Kork.Labour and Vocational Training along with several commercial businesses are situated along the main thoroughfares of Tuol Kork.New & Accessible Housing OptionsAerial view of Time Square 3 located in Tuol Kork Tuol Kork is traditionally known for its landed properties, however, it is now seeing new development projects, particularly condominiums both already completed and under construction.These modern residential options are becoming increasingly popular among local investors and international buyers. It offers practicality and often comes with a full range of amenities and services. Condominiums appeal to single individuals and young professionals and Cambodia has a young demographic. Moreover, expatriates living in the country tend to seek such living spaces. Whether it is for rental or purchase, condominium prices in Tuol Kork are more affordable which increases its accessibility to a wider audience.Are you interested in investing or living in Tuol Kork? Our customer service team is ready to assist you. Contact Us via:📞+855 92 92 1000📧 info@realestate.com.kh🌐 www.realestate.com.khEasy, Fast & FreeRealestate.com.kh helps you find your dream property or real estate investment in Cambodia.

R&F City Phnom Penh MIRO is offering a unique chance to grab its 38㎡ studio apartment at an unbeatable price starting from $5X, XXX and a 15% down payment. Move in right away and enjoy the flexibility of a 5-year interest-free instalment plan for the remaining amount. No waiting, no concerns about project delays—this ready-to-move-in apartment ensures you can start living in your own apartment today!Project DetailsDeveloper: R&F Group CambodiaOwnership: FreeholdLand Area: Approximately 951㎡Building Area: Approximately 25,328㎡Building Height: Two towers, 25 floors facing south and 32 floors facing east sideTotal Units: 612 unitsAvailable Unit Type: 38.38㎡ studio one-bedroomView Orientation: Southeast units enjoy river views of the Bassac River, and northwest units enjoy community garden viewsAmenities: 270° infinity pool, SKYBAR, floor-to-ceiling gym, rooftop garden, and approximately 500㎡ shared office spaceStarting Price: Total price starting from $5X,XXX, with a 5-year interest-free instalment optionUpcoming Location: Southern Phnom PenhR&F City Phnom Penh MIRO is an integral part of the R&F City Phnom Penh in the southern part of Phnom Penh. MIRO stands for Magic, International, Revolutionary, and Outstanding, encapsulating a vision for future living in Phnom Penh. Located in the rapidly developing ING New City, MIRO is strategically located on Hun Sen Boulevard. Within 15 minutes, residents have access to Phnom Penh's largest shopping centre, AEON Mall 3, the top international school, ISPP, and the premier healthcare facility, the Royal Phnom Penh Hospital.Surrounding InfrastructureMorodok Techo Flyover: Phnom Penh's first circular overpass, Phase 1 completed and operationalHun Sen Boulevard: The main road to southern Phnom Penh, and an area of growing interest for investment New Airport Road: 80-metre road connecting Hun Sen Boulevard directly to the new Phnom Penh airportPhnom Penh Railway: A future key transportation infrastructure planned with AEON Mall 3 Mean CheyNearby FacilitiesChip Mong Mall 271: 3 minutesISPP International School: 4 minutesMeanchey Avenue: 5 minutesAEON Mall 3: 7 minutesPhnom Penh New International Airport: 20 minutesVisit & Move in Today!Forget the polished renderings – nothing compares to the peace of mind that comes from seeing your new home in person. R&F City Phnom Penh MIRO, completed in 2023, invites you to come and experience it firsthand. Walk through the completed project, and take in the well-thought-out apartment layouts and stunning views. With ready-to-move-in units, there's no waiting, no construction delays, and no delivery risks. Invest with confidence and move in immediately – it's real, reliable, and ready for you.The 38.38㎡ one-bedroom, has a compact layout, with a simple and comfortable designSmart Entry Door: New technology that enhances better securityModern Minimalist kitchen: with an open design featuring custom cabinets, combining aesthetics and practicality;  it offers a furniture stand that quickly transforms into a functional dining table.Bathroom: Adopts a three-section separation design, with the shower area and toilet area separated by glass doors, keeping it clean and dry.Living Room and Bedroom: Both spaces have window entries, and balconies offering views of the city.The overall apartment layout is functional and the design is user-friendly, making the studio apartment ideal for those who seek a convenient living space.Living with Community AmenitiesExperience the best of both worlds at R&F City Phnom Penh MIRO, where you can enjoy the comfort of your apartment while benefiting from an array of amenities:270° Infinity Pool: While soaking in its infinity pool, you will enjoy views of the Bassac River.SKYBAR: An ideal venue for socialising and unwinding after work or during the weekends.Gym: Stay fit and healthy with the newest fitness equipment.Rooftop Garden: A tranquil green space to relax and rejuvenate.Shared Office Space: A 500㎡ area designed to cater to your work needs, ensuring productivity and efficiency.As a resident of R&F City Miro Phnom Penh, you'll also have access to extensive community amenities:Vast Community Space: Spanning approximately 560,000㎡.Largest Community Garden in Phnom Penh: A 35,000㎡ green haven for residents.Commercial Street: Nearly 10,000㎡ diverse shops and dining options.Star-rated Sports Club: A 2,800㎡ facility featuring various sports and recreational amenities.Hassle-Free Living with Top-Rated Property ManagementExperience unparalleled convenience with R&F City Phnom Penh MIRO's star-rated property management. Its comprehensive services include community cleaning and landscaping, 24/7 security patrols, maintenance, utility payments, and personalised value-added services such as home cleaning, house management, and rental services. The services are dedicated to providing a seamless living experience, ensuring every detail is taken care of for its residents. So, why keep paying rent when you can invest in your own home? With an ultra-low total price and convenient payment options, owning a cosy and comfortable home is within your reach. Don't miss out on this opportunity, and secure your own apartment today! —  to schedule a free viewing appointment, contact our customer service team below! Click Here

Phnom Penh, Cambodia - May 9, 2024: The real estate industry's finest gathered at the Sofitel Phnom Penh Phokeethra on the evening of Wednesday, May 8th to celebrate the achievements of outstanding individuals and companies in the industry.The prestigious event is organised annually by Realestate.com.kh in collaboration with The Ministry of Land Management, Urban Planning and Construction, The Real Estate Business and Pawnshop Regulator of Cambodia, and the Cambodian Valuers and Estate Agents Association.Tom O'Sullivan, CEO of Realestate.com.kh opened the evening with a keynote speech emphasising the crucial roles of professionalism, transparency, and trust-building in bolstering buyer confidence and sustaining international investment.During the evening, Realestate.com.kh launched its latest initiative, Connect, a platform designed to unify the entire industry. Connect aims to promote Cambodia and its real estate sector globally while enabling efficient and transparent transactions through one integrated platform.The event was graced by over 300 of the most prominent and successful real estate players in the country's industry. The nominees and award recipients were evaluated based on their industry leadership, innovation, business growth, impact, and overall excellence.Over 30 winners from the leading property developers and agencies in Cambodia were announced throughout the night and were awarded the iconic trophy, prestigious CREA seal, and gold plaques to confirm their company's success.The top Developer of the Year awards included the winner of the overall Developer of the Year, Overseas Cambodia Investment Corporation (OCIC), while Time Square projects’ developer MegaKim World Corporation won the Best Condominium Developer of the Year.The top development of the year winners included Canopy Sands Development, which won the top award of the evening, The Development of the Year. Le Condé BKK1, winner of multiple awards took home Condominium Development of the Year, whilst Borey Williams won the Best Landed Property Development of the Year, and Connexion, a multiple award winner, won Lifestyle Development of the Year.Mean Chey Residences, Picasso City Garden, Sophea Suites, Prince Happiness Plaza, Borey Amory, Diamond Bay Garden, and Time Square 6 were some of the other notable winners from the developer categories.Asia Real Estate Cambodia (ARC) and WH Living and Properties rounded out the agency awards for the evening.In a post-awards interview, Tom O'Sullivan, CEO of Realestate.com.kh, expressed his gratitude to the judging panel and emphasised the success of the 2024 awards. He remarked, "While the industry faces challenges, it's crucial for us to unite and reinforce our commitment to sustainable and transparent growth." O'Sullivan also extended thanks to all the sponsors, including Hanuman Beer, Port City Colombo, B2B Cambodia, DFDL Cambodia, The Room Architecture & Design, Over Under, GAC Motor Cambodia, TDB Projects, Khmer Times and other contributors who made the night a success.Complete list of winnersDeveloper winners Developer of the Year - Overseas Cambodia Investment Corporation (OCIC)Condominium Developer of the Year - MegaKim World Corporation (Time Square 6)Borey (Landed Property) Developer of the Year - Overseas Cambodia Investment Corporation (OCIC)Lifestyle Developer of the Year - Bay of Lights EntertainmentDevelopment winners Development of the Year - Canopy Sands Development - SihanoukvilleCondominium Development of the Year - LE CONDÉ BKK1Township Development of the Year - Canopy Sands Development  Mixed-Use Development of the Year - Prince Happiness PlazaBorey (Landed Property) Development of the Year - Borey Williams Affordable Condominium Development of the Year - Time Square 6Premium Condominium Development of the Year - LE CONDÉ BKK1Luxury Condominium Development of the Year - Picasso City GardenWaterfront Development of the Year - Diamond Bay GardenRetail Development of the Year - ConnexionPremium Condominium Unit Design of the Year - Diamond Bay GardenResidential Design of the Year (Interior) - Sophea SuitesLifestyle Development of the Year - ConnexionDevelopment of the Year – Eastern Phnom Penh - Borey AmoryDevelopment of the Year – Western Phnom Penh - Borey WilliamsDevelopment of the Year – Southern Phnom Penh - Mean Chey ResidencesBoutique Housing Development of the Year - The Future 30Community Mall of the Year - Mean Chey Avenue Sustainable Development of the Year - Connexion Agency winnersProperty Management Firm of the Year - Residential - WH Living & Properties Agency - Research / Valuation Firm of the Year - Asia Real Estate Cambodia (ARC)Realestate.com.kh Co-Broke Agency of the Year - Vanguard Investment And Consultancy Services & Botra Real Estate Realestate.com.kh Co-Broke Agent of the Year (Individual) - Ms. Sisowath Nearyroth&  Mr. Peng Khomsong

The Time Square ‘Residence Series’ is expanding! The well-known Taiwanese developer, Megakim World Corp. Ltd, unveils its latest project in Tuol Kouk district,Phnom Penh—Time Square 7. As the seventh project in this successful series—with the previous six nearly sold out—Time Square 7 represents a first-choice investment opportunity, especially with an exclusive early bird discount currently on offer.Project OverviewThis new project stretches over a land area of 1,734 square meters and rises to 49 floors, housing a total of 700 units serviced by 7 elevators. Time Square 7 caters to a variety of lifestyles with its diverse apartment layouts. Options range from efficient one-bedroom units (40, 47, and 60 sqm) perfect for individuals or couples, to a more spacious two-bedroom unit (76 sqm) ideal for small families. The largest three-bedroom units (100 sqm) are designed for larger families needing more space. Additionally, duplex units ranging from 1 to 4 bedroom (60, 70,100, 130 and 160 sqm) are also available on higher floors.When it comes to amenities, we can expect a sky lounge with city views, a pool & gym. The building features two car parking for convenience and the ground floor houses the lobby and commercial retail spaces, making daily necessities easily accessible for all residents. Location HighlightThe new project is only 450 meters from Time Square 2 and Time Square 3. Tuol Kork is renowned for its villas typically where most of Cambodia's elite reside. The district offers a quieter, residential atmosphere yet it remains well-connected to other key areas through a network of major roads. Tuol Kork is adjacent to the communes of Russey Keo, Daun Penh, Chamkarmon, Meanchey, and Sen Sok. The district offers a variety of options when it comes to cafes, restaurants, supermarkets, and hospitals, providing residents with multiple options to meet their lifestyle needs. Whether it’s dining, shopping, or healthcare, the area has much to offer.Popular Amenities Nearby:Financial Services: Residents are a 10-minute drive from banks like Canadia Bank, Prince Bank, BIC Bank, Wing Bank, and ABA Bank.Commercial Amenities: Dining and shopping options include Happy Lamb Hotpot, Fun Mall, TK Avenue, Eden Garden, View Park Mall, and Sunshine Family Park.Education Institutions: Over 20 international schools such as Western International School, Golden Gate American School, and Paragon International School are located the neighbourhood.Affordable Pricing & Early Bird DiscountsWith starting prices at $3X, XXX, Time Square 7 offers affordability paired with attractive early bird discounts. The payment plan is designed to ease the financial burden on buyers, requiring only a 20% down payment followed by up to 40 months of interest-free instalments.Project PopularityTime Square's developments have gained popularity across two of Phnom Penh's most sought-after districts, BKK1 and Tuol Kouk. Here's a brief overview of previous projects:Time Square 1 (17-story apartment in BKK1, completed in 2017, 100% sold out)Time Square 2 (Borey residential community, 100% sold out)Time Square 3 (30-story apartment in Tuol Kouk, completed in 2021, 100% sold out)Time Square 4 (25-story mixed-use development in Tuol Kouk, completed in 2023, 100% sold out)Time Square 5 (also known as Time Square 306, 45-story apartment in BKK1 on Street 306, groundbreaking in 2022, 100% sold out)Time Square 6 (also known as Time Square 302, 48-story apartment located in BKK1 on Street 302, groundbreaking in 2023, 98% sold out)Time Square 7 (49-story apartment located in Tuol Kork, now open for pre-sale!)Bookings are now open for Time Square 7! Don't miss the early bird discount—secure your unit today. Contact us now to reserve your new home or investment!Click Here

The 2024 hot season has been breaking records, not only in Cambodia, but Southeast Asia has seen prolonged periods of extreme heat and with the warnings of climate change, it's possible more similar seasons are upon us in years to come.Despite the incredibly hot weather this year, it's been predicted to be followed by a higher than usual rainfall in May for the start of the rainy season, which in itself raises other considerations of drainage and seasonal flooding in Cambodia.In Cambodia, the property’s orientation does matter to a degree but overall the climate is very different to Europe for example.If a property buyer is choosing a property for living or investment in the Kingdom, they will need to consider the direction a home faces, but more so the design elements, circulation and surrounding greenspaces.Cambodia Real Estate: Choosing the Right Home in a Tropical ClimateCambodia is tropical, and yes that means mostly year-round clear blue skies, but the hot season which is generally coming to an end around now (March-June) can be very uncomfortable unless fans and air-conditioning are widely used.Cambodia's climate cycle is due to its geographic location of 11 and 16 degrees north latitude, a location that is north of the Tropic of Cancer resulting in a tropical climate with abundant annual sunshine yearly.Temperatures generally range between 25°C and 35°C, but there are distinct seasons; the rainy season from May or June and the dry season usually starts in November or December and lasts until April or May of the following year.In 2024, since the start of April, daily temperatures have been sitting at sweltering highs of 37-40°C+, with relentless heat waves causing significant discomfort. It is usually hot but this has been extreme in Cambodia, as it has in Thailand, Laos and elsewhere.Chan Yutha, spokesman for the Ministry of Water Resources and Meteorology said that Cambodia is facing the hottest temperatures since records began in the 1850s! As such, the use of air conditioners, coolers, and fans operating non-stop has spiked electricity bills and reignited debates around environmental concerns, better city planning, and sustainable alternatives for cooler home temperatures in Cambodian cities in particular.Property Orientation In CambodiaOrientation isn't necessarily as important in Cambodia for a property unless specific sunrises and sunsets and natural light for working spaces are being considered, as the sun never sets too late in the Kingdom. However, means by which a property is kept cool and well-ventilated due to heat and humidity caused by the rainy and dry seasons are crucial.Generally speaking in Cambodia, homes oriented towards the west are exposed to direct sunlight during the peak heat hours of the day which can lead to an accumulation of indoor heat, elevated indoor temperatures and less overall comfort. West-facing properties may even have a lower price tag but buyers must balance their preferences and requirements.An east-facing house in Cambodia welcomes the early morning sunlight, while a west-facing home is exposed to strong sunlight in the afternoon to the early evening.A south-facing property will avoid direct sunlight for most of the year, and north-facing properties benefit from receiving less direct sunlight, resulting in a cooler indoor temperature.Key Considerations - Cooler Homers For Warmer ClimatesProximity to Water - The proximity of certain sangkats in Phnom Penh to the Mekong, Bassac, and Tonle Sap Rivers can mean higher priced properties as the locations tend to benefit from natural cooling as they are located to wider spaces of open water.Building Materials Used - When considering the building materials of a property, ideally heat-insulating materials will help keep a home cooler, although the layout can also play a part. Low-emissivity glass (or low-E glass) for example provides natural light while minimising heat gain in a living space.Ventilation & High Ceilings - Proper ventilation is a KEY and ensures a steady flow of air, natural cooling of indoor spaces and rising hot air to escape. For this reason, many properties will have a higher ceiling in Cambodia to support better airflow and temperature regulation. The design and layout need to allow for air circulation resulting in naturally lower indoor temperature and less moisture.Heat Management: Managing the abundant natural heat is essential and to buffer these design adjustments to mitigate warmth while enjoying sunset views, for example, needs to be considered in constructing or buying a property.Other factors such as the size of windows or glass doors that enhance a warming effect, the installation of shades, more greenery, and the placement of fans all play a part in cooling a home.Urban Green SpacesOne prominent trend has been the growing demand for green spaces in both residential and commercial properties especially in the cities and as buyers and citizens become more aware of the importance of the environment in their well-being.There has been an increase, for example, in the number of parks in Phnom Penh and more developments incorporating green spaces. This means there is greater demand for eco-friendly buildings, green infrastructure, and access to nature which can be seen as a positive shift in buyers' property demands.With the capital being the most expensive and most busy property market, Phnom Penh’s municipal government in 2024 announced plans to develop a leisure and entertainment area in Daun Penh which aims to cover approximately 57 hectares. Mr. Sam Piseth, Director of the Department of Public Works and Transport of Phnom Penh, emphasised that there will be green areas and outdoor lighting intended to improve the area's overall atmosphere.As part of this, a large recreation space is planned and a large pedestrian-only area and the entire project is due to start immediately and be completed before the end of 2025.

The Phnom Penh municipal government plans to develop a leisure and entertainment area in the district of Daun Penh. The new development will encompass shops, restaurants, hotels, and a bar street, all spread across approximately 57 hectares.The development is planned into three zones:Zone 1 (Food Street and Shopping Area): Located in front of the post office, this bustling zone is bordered by Street 94 to the north, Street 106 to the south, Street 13 to the west, and Sisowath Quay to the east.Zone 2 (Entertainment Area): Positioned between Street 106 and Street 184, with Street 13 and Sisowath Quay.Zone 3 (Recreation Space): By Street 184, Sihanouk Boulevard, Street 07, and Sisowath Quay. Scheduled to start in early May 2024, the project is aimed to be completed before the New Year 2025. Once completed, Pedestrian Street will be open from 6 PM to 11 PM, enhancing Daun Penh's appeal as a destination for evening entertainment and leisure activities.The development of the Daun Penh Pedestrian Street project in Phnom Penh is set to bring benefits both to locals and tourists to the district and the city's appeal.The pedestrian street will likely increase foot traffic, which can significantly benefit local businesses such as restaurants, cafes, shops, and markets in the area.Moreover, according to Mr. Sam Piseth, Director of the Department of Public Works and Transport of Phnom Penh, the area will be enhanced with green areas and outdoor lighting which also will improve the area's overall atmosphere.Daun Penh is one of the central districts in Phnom Penh, and it holds historical significance. Located on the the banks of Tonle Sap River, it was named after the legendary figure Lady Penh (Grandmother Penh), who is said to have founded the city during the 13th-14th century, the area occupies an important place in Cambodia's history. This district is not only a hub for many of Phnom Penh’s businesses but also serves as a cultural and historical centre. Major landmarks in Daun Penh include the Royal Palace, the Railway Station, the Central Market, Wat Phnom, and the National Museum of Cambodia, to name just a few. These important monuments make Daun Penh a highly visited area by tourists and locals. When it comes to living, Daun Penh offers unique properties such as colonial-style apartments, renovated shophouses, and buildings.  The Daun Penh area is vibrant, with Sisowath Quay being a particularly popular spot where many gather during the weekends. Overall, the development of the Daun Penh Pedestrian Street project stands to offer benefits by enhancing the livability of Phnom Penh, promoting tourism, and stimulating economic growth.

The south of Cambodia’s capital Phnom Penh is seeing some of the most drastic investment and urban change, much of it aligned to the potential opening of the new multi-billion dollar airport opening in 2025. With new condo developments and the retail landscape radically transformed, as well as new infrastructure including bridges, overpasses and road networks designed to open up the city’s southern corridor.Cambodian Prime Minister Hun Manet said in 2024 that the southwest will become Cambodia’s logistics hub due to the construction of ring roads, the existing expressway linked to Sihanoukville, the proposed Techo Funal Canal as well as the new airport.New Phnom Penh Airport - Techo International AirportThe first phase of what is due to be one of the biggest airports in the world when completed, is due by the end of 2024 or early 2025. The ambitious development is due to be operational in 2025 allowing bigger aircraft to reach the Kingdom and hopes that more international and regional routes will boost tourism numbers to the Kingdom.Although the airport is located 30-40 km south of the capital and occupies an area of 2600 hectares outside of the city centre in Kandal province, it has resulted in many projects being announced to better connect the logistics hub to Phnom Penh, with an increase in land prices, property projects and of course roads and interconnectivity. The 4F-class airport has a development price tag of approximately USD $1.5 billion.The group behind the construction is the Cambodia Airport Investment Co. (CAIC) - a joint venture between the Royal Government of the Kingdom of Cambodia (RGC) represented by the State Secretariat of Civil Aviation (SSCA) and OCIC (Overseas Chinese Investment Company).According to at least one media report, OCIC has also reserved 1,200 hectares of land on both sides of the 60-meter avenue (Samdech Hun Sen Boulevard) leading directly to the airport from the south of the capital for urban development land, 600 hectares kept for lakeside land to be developed into a tourist and leisure resort, and 500 hectares of land as an industrial park development area. Other proposed developments are a high-end yacht club on a 2,000-hectare lake and an 80-meter-wide canal to connect to the upcoming Techo Funan Grand Canal!Lagardère Travel Retail and HSC Group were appointed to manage the duty-free services at the Techo International AirportVINCI Airports will manage the new airport after signing an MoU in 2024.New Property Developments - Phnom Penh SouthUrban Village Phase IIUrban Village Sky Prime Tower is stunningly 225 meters high and is located in south of Phnom Penh, along Samdech Hun Sen Boulevard.The development comes from Goldframe Group, a well-known developer in the capital and this will be the tallest building along the major road to the south of the city.The 790,000 sqm residential development is part of Urban Village Phase II and offers a podium viewing deck with a panoramic view of the Bassac River, and will provide a creative hub as well as amenities such as a swimming pool and gym, restaurants, cafe, mart, as well as a school, cinema and co-working spaces.Singaporean Sir Stamford Raffles Group (SSRG) -  Cambodian Property DevelopmentSSRG announced that they plan to build a townhouse resort project over 22.6 hectares (approximately 35 to 40 football fields say some reports) located near the new international airport of development called Marum Estate. The project broke ground in October 2023.The luxury mixed-use development will be built over eight phases and final completion is due in 2030, with the development home to over 600 landed residences and 250 shophouses as well as an assortment of retail, healthcare and educational facilities.SSRG co-founder Phebe Len told fDi Intelligence, ”Our studies showed that Kandal Province is the next commercial destination, very much affected by the new airport only a 30-minute drive from us. When there is such a super infrastructure like an airport everything else will follow, such as highway connectivity in and out of a city. So we are kind of smack in the middle of that area.”Malls and Retail Therapy - Phnom Penh SouthMean Chey Avenue Community Mall was designed as a lifestyle destination and is located along the popular and competitive Samdech Techo Hun Sen Boulevard (60m Avenue).It is one of several larger community malls in the area but megamalls such as AEON3 (Meanchey) and Chip Mong 271 combined supplied the market with 140,000 sqm NLA in 2022 which represented 57% of the total retail NLA supply that year!Development Of Phnom Penh’s Transport NetworkThe new road connecting Samdech Blvd on National Road 2 to the airport, which is 60 meters wide and 13.5 kilometres long, is already open, while Ring Road Number 3 and Ring Road Number 4, as well as other road systems, are being developed, some as part of the airport development costs.There is also the ongoing construction of new flyovers as Phnom Penh grapples with urban sprawl and is learning how to build flyovers in some cases the option to retrofit existing infrastructure. The main project is connecting the Hun Sen & Monivong boulevards and the Royal Cambodian Armed Forces (Street 271), called “Morodok Techo Interchange”.The existing Hun Sen Blvd (which is 60 meters wide and nearly 10 kilometres long connecting Street 271 in the north with National Road 2 in the south) and Mean Chey Avenue are also open and have led to several residential and retail developments being undertaken including Mean Chey Residences.The Morodok Techo Interchange is under development over three tiers with the final part due to be completed in April 2025.The Cambodian Prime Minister also met US logistics firms, inviting them to consider developing Cambodia's areas as a logistics hub which would include the area by the new airport as a logistics hub.Possible Rail NetworkAlthough it has been discussed for as long as a decade, a Chinese firm, China Metro Group, is conducting another feasibility study for a light rail development project which would potentially connect the Techo International Airport to the Phnom Penh centre.Bridges Connecting The CapitalChak Angre - Prek Pra Bridge (over the Bassac River)The Chak Angre Krom-Prek Pra bridge has a long way to go, and at the time of writing is less than 10 per cent complete but it was only announced in late 2023.It is one of several ongoing bridge projects in Cambodia and will span from Chak Angre (which is located in the Meanchey district) to the south of the city, and across the Bassac River to Prek Pra (which is located in Chbar Ampov district) and aims to relieve traffic while connecting the two developing areas of the capital.The bailey (or truss) style bridge, when completed, could be 845 meters long and divided into 4 traffic lanes at an estimated cost of approximately USD $60 million.Funan Techo CanalThis massive project in some ways underpins all of the logistics ambitions and the proposed Funan Techo Canal is estimated to cost about USD $1.7 billion and would take at least four years to complete and will see a number of additional roads, canals and localised bridges and riverports constructed.In total, this project would extend over 180 kilometres, linking the Mekong River’s Takeo Canal to the coastal province of Kep, passing through four provinces - Kandal, Takeo, Kampot, and Kep - unlocking economic development by allowing for access to resources, trade, and transportation.

Phnom Penh's skyline is set to welcome a new addition with the opening of the hospitality resort Wyndham Garden, located within the eagerly awaited UC88 Tower project by UC Group.An agreement-signing ceremony was held at the Sofitel Phnom Penh Phokeethra, marking the beginning of a joint venture between UC Group and Wyndham Hotel & Resort on Monday, 8th April 2024.The signing ceremony featured Mr Chhun Heng Leng (left), Mr Chhun Sambath (centre) from UC Group, and Mr Eudo Chan (right) from Wyndham Hotels & Resorts. (Credit: realestate.com.kh)The signing ceremony was held at the Sofitel Phnom Penh Phokeethra. (Credit UC88)The UC88 Tower offers premium residences, featuring a variety of units including studio, 1-bedroom, and 2-bedroom apartments with elegant interiors that residents can anticipate.Moreover, it offers a suite of high-end amenities, including an infinity pool, jacuzzi, gym, sauna and an outdoor recreational area. The 46th floor will host an expansive sky bar offering panoramic views of the Mekong River and a helipad on the rooftop adds to the exclusivity of this project.The mixed-use project development also encompasses dedicated Google-styled offices on several floors. UC88 Tower reached its topping-off milestone in November last year and is scheduled for completion in 2025.Fully furnished living room and bedroom display at UC88 Tower. (Credit realestate.com.kh)Following the completion of the condominium project ‘The View’ on Street 370, and ‘The Golden One’ on Street 360, this marks UC Group’s third project in the BKK1 area.The BKK1 area is known to be close to Phnom Penh's renowned landmarks, international embassies, businesses, restaurants and venues, catering to travellers and residents. The UC88 Tower is ideally located on Street 322 next to Monivong Boulevard, placing it at the heart of the capital.Map of Phnom Penh highlighting BKK1 Area, and the UC88 Tower project. (Credit realestate.com.kh)Construction progress of the UC88 project. (Credit realestate.com.kh)Furthermore, BKK1 stands as a prime location, attracting investors seeking property opportunities in Cambodia. With its extensive amenities and prime location, UC88 Tower is set to emerge as a notable addition to Phnom Penh's choices for a holiday stay, residence living and office space.To learn more about UC88 TowerSpeak with our agents Click Here

For many property seekers, finding the perfect property for living or commercial use is only half the journey. The real challenge often starts after buying or renting a property, when you face the task of turning a space into what you've envisioned.  The need for a wide range of services, from mechanical, electrical, and plumbing works to renovation can take time and effort.As some of our readers might know, Realestate.com.kh is transitioning to a new office space on Monivong Boulevard. We have acquired the services of Southeast Asia KDC Engineering Co., Ltd. (also known as KDC) to ensure the fitting-out of the brand-new Realestate.com.kh’s headquarters.KDC offers a one-stop solution that offers mechanical, electrical, plumbing, renovation, maintenance, and safety system design for all real estate needs.Its team includes senior and junior technical engineers from Japan and Cambodia ensuring comprehensive skills. Its commitment to the 6S methodology encompasses Sorting, Setting in order, Shining, Standardising, Sustaining Discipline, and Safety.  Additionally, the company offers after-service care for most of its offerings.  With this approach, KDC's dedication to quality and schedule control, effective time management, and client support position it as a trustworthy partner. For property owners and seekers in Cambodia, choosing a reliable company like Southeast Asia KDC Engineering Co., Ltd. for your fit-out means entrusting your vision to a team dedicated to making it a reality.About Southeast Asia KDC Engineering Co., Ltd.Southeast Asia KDC Engineering Co., Ltd. is an officially registered company with a head office in Phnom Penh, Cambodia.  Established in 2023, its parent company is Kyowadenchi Co., LTD. It is known for its electrical company in the Kanto area of Japan. It provides mechanical, electrical, plumbing, renovation maintenance and safety system design services. It assures the property owners of good service, quality, trust, time management, and response to its client needs. Southeast Asia KDC Engineering Co., Ltd. brings international expertise and standards to Cambodia. Contact InformationTelegram: https://t.me/kdc_mep_servicesTel: (+855) 96 6399 868, (+855) 89 378 910Address: Royal PSL Apartment #24, Corner of 57 St&360 St, 8 villages, BKK1, BKK, Phnom Penh, Cambodia.

Although laneways in the Kingdom have been a feature over the past decade, they have evolved, popped up in new locations, and in some instances transformed the residential area into a sprawl of nightlife, bars, eateries and social hangouts, as well as hub for arts and culture.This also means from a property perspective, Bassac Lane for example, which for the last few years has morphed into the liveliest and biggest laneway in Phnom Penh, has also boosted F&B, retail, and residential property prices, although its popularity means there comes additional bustle and noise, especially over the weekends.With the property market in the Kingdom seeing falling and more realistic prices, it also means there are more opportunities for potential repurposing of existing retail and residential properties, with many on the laneways listed in the article below a good indicator of how homes, villas and business units can be adapted - not only for F&B - but co-living spaces, or even budget hotels. It also spurs an entrepreneurial spirit and allows for more creative small businesses to have a platform and a base in the various Cambodian cities.The "laneways" in Cambodia are similar to those popularised in cities like Melbourne or Tokyo, with their narrow streets and alleys offering a plethora of trendy and unique outlets creating a unique atmosphere and experience for residents and multinational visitors alike. Pub Street - Siem ReapMaybe we are cheating or bending the rules to include the most busy and popular “walking street” in Temple Town, but Pub Street with its location in the heart of Siem Reap, is a bustling pedestrian avenue which is most well known for its lively nightlife, restaurants, and bars. Purists will say it's not a traditional laneway, but there is undoubtedly a vibrant atmosphere and it remains the main destination for tourists visiting the nearby Angkor Wat temples who want to unwind and take in some beverages and sample the local and international cuisine.In addition to its diverse culinary options, Pub Street attracts revellers due to its vibrant nightlife, from live music to bars showing sports broadcasting live events, and laid-back lounges where you can relax and enjoy locally concocted cocktails.Pub Street is especially popular and crowded for holidays such as Khmer New Year and International New Year as well as other local cultural holidays.Bassac Lane - BKK, Phnom PenhIt's been fascinating to see the growth and popularity of Bassac Lane - especially post-pandemic - as it's not even arguably the go-to destination for nightlife in the Cambodian capital - it's where all visitors and most expats and locals head to on the weekends.What started as a small selection of carefully designed and themed bars and dining outlets on Street 308 between Norodom and Sothearos Boulevards a decade ago, has seen the small laneway grow into multiple laneways and dozens of cocktail bars, eating complexes, clubs, hidden bars and so much more in the trendy Bassac area of BKK1.With its central location near the Independence Monument and the famous Wat Botum Park, Bassac Lane has become a trendy and hip area with a variety of bars, restaurants, music venues, and boutique shops, which has seen local Khmer shophouses and renovated colonial-era buildings transformed.A popular hub for locals, expatriates, and tourists - it's difficult to keep up with the new outlets and offerings although there are some long-standing classics such as Mama Wongs or Red Bar still remain, but it's never dull if you are seeking to sample a wide selection of food or drink, especially over the weekend.Bassac Lane also hosts exhibitions, pop-up markets, and street festivals.Langka Lane - Independence Monument Phnom PenhLangka Lane is an alleyway and laneway on St 51 and the corner of St 288 which offers several new and trendy restaurants, bars and other boutique businesses.One of the newer gems in central Phnom Penh situated close to the Wat Langka and Independence Monument in Boeung Keng Kang 1, there is a great selection of cocktail and craft beer bars - and all on the doorstep of several hotels for the convenience of visitors.Some highlights include Embargo which has one of the best selections of regional and local craft beers and an upstairs area for board games and retro games, the locally run SAK Pub Craft Beer & Bites, the ever-popular Katansashi fusion Japanese restaurant as well as half a dozen other Japanese and Asian eateries, Garage Sale with its fantastically decorated interior and smash burgers as well as its retro arcade games, long-standing burger outlet Burgershack, and one of the best French restaurants in the city - Le Langka. Recently joining the eclectic selection of options has been Boma - which serves Mediterranean cuisine. The small laneway in Kampot has sprung up and features a small selection of outlets such as a cafe, craft bar and even a tattoo parlour. Located not far from the river and from the downtown Old Market, the small Kampot Lane is dubbed as the “Little Alley Of Fun”.Kampot remains a popular getaway destination from the busier Phnom Penh and has always had a thriving foodie scene, and the laneway is a nice relaxing escape which offers visitors and tourists an opportunity to unwind in the riverside town.Palace Lane - Royal Palace Area Phnom PenhThe launch of the Palace Lane concept laneway in Phnom Penh just after the pandemic subsided could have been seen as a risky move at the start of 2022. The intention was to offer the best of local and international food, drink, and music in a safe environment for its customers, and the range of outlets such as Fernando’s Piri Piri Chicken, Craft, Planta, Pizza Factory, Cambodia Bagels, down the actual laneway but flanked by equally popular Box Office, Villa Grange, and The Vine, means there is plenty of dining, drinking and social option within a small area closely located to the riverside and the Royal Palace.Cambodia Bagels and Pizza Factory (branched out also as Burger Factory) now has other delivery outlets in the city due to the popular demand.The location of Palace Lane, situated between St.240 and St.244 (also known as 240 and a half) used to be a popular hangout with venues such as Bar Sito and Artillery but both had closed but have been revitalised over recent years.A small investment group rented the properties, added the new outlets next to French-Khmer cocktail bar Bong Bong Bong, added new street art and a regular lineup of music and now Palace Lane is a regular laneway destination in the capital.On January 27th, 2024 near the laneway on St 244, there will be a Beer Festival promoting local and regional craft beers and food with a kids and family-friendly atmosphere.

On January 9th, Picasso City Garden, a luxury apartment in BKK 1 owned by Titan Stone Real Estate Group, entered into a partnership with five institutions under the Health & Wellness POWER TEAM, a combination of well-known local medical and health care institutions. Through this formal MOU Signing Ceremony, Picasso Property The powerful combination of management brand and medical brand has achieved a "win-win" strategy for both parties, allowing better medical and health care services to benefit all residents of Picasso.The Health & Wellness POWER TEAM is composed of five well-known local medical and health care institutions, including:IMI Dental Clinic: With nearly 30 years of business experience with a team of senior international dentists, serving local and foreign high-end political and business customers.Meta Eye Clinic: A well-known local ophthalmology clinic with the most advanced ophthalmic medical equipment and technology, and efficient medical technology for children with severe eye diseases.KS Clinic: A well-known local otolaryngology clinic with a professional medical team， cooperates with a various government hospital to efficiently exchange resource and technology for patients' medical treatment.EKIP Medical Center: A well-known local comprehensive hospital, with a wide range of medical services and customers of all ages, and is pretty active in well-known local business associations.RD Keto Fasting: As a rare local nutrition training institution, RD Keto Fasting mainly provides online training courses on diet and nutrition, especially weight control for trainees. Currently, there are thousands of online students.Mr. Darren Teng, chairman of Titan Stone Real Estate Group and Picasso City Garden, said in his speech at the signing ceremony: "We always regard the safety and health of our residents as the most important concern. Via the collaboration with local outstanding and professional medical units, combine the mutual demand for each party, is an important part of Picasso property management. Therefore, today's signing ceremony is considered to be a great significance to Picasso residents and Picasso's brand value. It will further enhance the richness and diversification of Picasso property management services and achieve a "win-win" situation.The first serviced apartment to provide exclusive resident preferential packagesLocated in the core area of Phnom Penh - BKK District 1, Picasso City Garden is the only high end artistic serviced apartment in Asia. Since the building completion in late 2022, the occupancy rate has continued to rise and currently reaches about 90% of the total units. The property services have been supported and recognized by the market, and most of the residents are international corporate executives and business people from all over the world. In order to continuously improve the quality standard of property management services, in the past year, PICASSO FAMILY PACKAGE (Picasso Family Package) has been introduced to provide more detailed, high-end and distinctive services to owners and tenants. Based on the more relevant living needs of residents, actively negotiates collaboration with businesses or suppliers in various fields, such as health care, catering, education in the fields of daily necessities, travel, beauty salons, etc., there are currently more than 40 partners providing residents with exclusive benefits and discounts. Residents only need to show their Picasso access card to enjoy the preferential discounts of the collaborationThe healthcare and medical field is the top priority among all. The MOU signing is a value-added upgrade of property services, it also basically reflects the intentions and efforts of Picasso Property Management to cover comprehensive service operations. In the future, Picasso will continue to create a higher-quality living experience for customers and deliver warm community life. At the same time, will also provide more confidence in the building planning and property management of Picasso 2, a new project to be developed by Titan Stone Real Estate.Learn more about Picasso City Garden

Realestate.com.kh is proud to announce its fifth annual Cambodia Real Estate Awards  (CREA 2024). The grand gala event, set for April 2024, aims to honour and celebrate outstanding achievements within the Cambodian Real Estate industry.The CREA 2024 awards feature categories across different real estate disciplines, including:Real Estate Developer / Development AwardsReal Estate Agency AwardsReal Estate Hall Of Fame AwardsBENEFITS OF JOINING CREA 2024The Cambodia Real Estate Awards is a prestigious event celebrating the best of the best in Cambodia's growing real estate sector. Joining the CREA 2024 allows agencies and developers to establish themselves as recognised and trustworthy members of the industry.Winners and nominees also benefit from the following:Brand and development exposure to local and international buyers, homeowners and investors.Judged by respected leaders in the Cambodian real estate industry and the general public.Endorsed by the Ministry of Land Management, Urban Planning and Construction.Endorsed by the Real Estate Business and Pawnshop Regulator.Endorsed by the Cambodian Valuers and Estate Agents Association (CVEA)..All winners receive the iconic CREA trophy and plaque to display in their office, showroom and at events.All winners receive the official CREA seal to use on all marketing material. Enter the Cambodia Real Estate Awards 2024WHO CAN PARTICIPATE IN CREA 2024All licensed firms and individuals are welcomed and allowed to participate in CREA 2024, regardless of the size or wealth of their operation. With industry and government involvement from the Ministry of Land Management, Urban Planning and Construction, the Real Estate Business and Pawnshop Regulator as well as the Cambodian Valuers and Estate Agents Association (CVEA), participants can be sure that the process is objective, fair, and done with integrity from start to finish.All these steps are taken to recognise the achievements of the Cambodian real estate industry objectively, fairly, and on a wholly inclusive basis.HOW TO PARTICIPATETo participate in CREA 2024, interested parties are welcome to get in touch with our team or download the relevant submission form here.Benefits of Participating:Further strengthen your position in the Cambodian real estate marketBe recognised as a leader in the Cambodian real estate industryNetwork with fellow professionals from the real estate industryLearn more about new industry developmentsReceive an iconic Cambodia Real Estate Awards trophy and certificateReceive high-quality marketing assets to leverage across your businessInterested in learning more about CREA 2024? Visit our website at www.cambodiarealestateawards.com Enter the Cambodia Real Estate Awards 2024Key Contacts for Cambodia Real Estate Awards 2024English & Khmer:Name: Ms. Annabelle Vong (Anna)Position: Event - Sales ManagerEmail: annabelle.vong@realestate.com.kh Phone: +855 (0) 17 426 797Chinese:Name: Zhao Shaochun (Halley) Position: Corporate Partnerships Advisor Email: halley.zhao@realestate.com.kh Phone: +855 (0) 86 394 459ANDName: Ms. Stefania Khiem (Steff)Position: Event ManagerEmail: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333

For anyone who has spent even a few years in Cambodia’s capital of Phnom Penh, the changing skyline, fuelled by rapid development and investment, is one of the most obvious changes to the city aesthetically. There are multiple mixed-development buildings, condos, hotels, and malls which have contributed to changing the characteristics of the expanding city. As Phnom Penh reaches new city limits, what are the tallest buildings in the capital and which are still under construction?Tall buildings referenced in this article are meant to be enclosed buildings with continuously occupiable floors. The information varies from source to source on the actual height and even the number of floors of the buildings, but we have tried to be as accurate as possible based on the information available.Which Are The Worlds And Asia’s Tallest Buildings?There is a sense of competition between nations and conglomerates to own the coveted tallest buildings on the planet as a means of prestige and often results in attracting tourism too.The international non-profit organisation Council on Tall Buildings and Urban Habitat (CTBUH) puts out a list of "The World's Tallest Building" and is regarded as setting the standards by which buildings are measured. According to CTBUH, the Burj Khalifa in Dubai is the tallest building and stands at 828 meters high! Out of the tallest ten buildings in the world, 8 are located in Asia, and 75 per cent of the 50 tallest skyscrapers in the world are in the region. China leads the charge with fifteen of the tallest skyscrapers, while the UAE has also several top contenders, and the city of Dubai has the most skyscrapers in the top fifty tallest buildings in the world.Burj Khalifa (Dubai, UAE) - 828mMerdeka 118 (Kuala Lumpur, Malaysia)  - 678.9mShanghai Tower (Shanghai, China)  - 632mAbraj Al-Bait Clock Tower (Mecca, Saudi Arabia) - 601mPing An International Finance Centre (Shenzhen, China) - 599.1mLotte World Tower (Seoul, South Korea) - 554.5mOne World Trade Center (New York City, USA) - 541.3mGuangzhou CTF Finance Centre (Guangzhou, China) - 530mTianjin CTF Finance Centre (Tianjin, China)  - 530mChina Zun  (Beijing, China)- 527.7mTop 5 Tallest Buildings In Phnom PenhThere are currently 8 buildings in the Cambodian capital which surpass 200 meters in height, but there are many under construction (and even many more which never materialised). As a reference, for many who are familiar with the city, Canadia Tower was for the longest time the tallest building in Phnom Penh, and it stands at 118m high - and now would only just make the top 50 tallest buildings in the city - while the Vattanac Capital Tower was the tallest building in the capital for nearly a decade from 2014-2022, standing at 187.3 meters! This will soon be nearly less than half the height of some projects under construction.1. Morgan Enmaison 2Developed by Morgan Group, who also successfully completed the Morgan Tower, Morgan Park Villa, and Morgan Champs-Elysees projects in Phnom Penh, the tallest building in the capital by the close of 2023 stands at 243.8 meters high. The Morgan Enmaison 2 development has 54 floors, includes 4,480 units, and covers 400,000 sqm! The condo building is located in Chroy Changvar along the Mekong River and some of the features include a yacht dock, helipad, rooftop sky bar and more than 15 acres of landscaped gardens for the residents. 2. The Peak Shangri-la TowerThe 228-meter-tall building was completed in 2022, and The Peak Shangri-la Tower has 55 floors in this mixed-use building located near AEON mall and the NagaWorld complex. The second tallest building in Phnom Penh offers condos, shops & restaurants, office space as well as the Shangri-La Hotel. There are over 1,000 condo units in this Phnom Penh building and two viewing decks for views of the capital.3. Urban Village Sky Prime TowerUrban Village Sky Prime Tower is a staggering 225 meters high with 58 floors, and is located to the south of Phnom Penh, along Samdech Hun Sen Boulevard, and is the tallest building along that major road.Urban Village Phase 2 Sky Prime Tower H is the tallest tower at the residential development from Urban Hub Cambodia and offers a podium viewing deck with a panoramic view of the Bassac River.4&5. The Peak Residential 1 & 2Part of the same development as The Peak Shangri-la, The Peak Residential 1 and 2 are listed as separate buildings and contain 55 floors each and stand at 224 meters. Completed in 2022, the Phnom Penh residential towers also include a gym and five floors of retail, a swimming pool, and a sky lounge on the top floor.Highest Proposed Buildings in Phnom Penh - CambodiaJ Tower 3 was launched late in 2023 and is under construction, while Cambodian Prime Minister Hun Manet has lauded the proposed 555m OCIC project due for development on Koh Norea - although details on that development are still unclear.There is an unverified list of buildings under construction in Phnom Penh, which indexes as many as 20 properties which could be higher than 200 meters when completed.J Tower 3 - Condo Over 300 MetersWhen completed in approximately 2028, the J-Tower 3 Condominium could be the tallest building in Cambodia and stand at over 300 meters high (planned to be 310.5m) and feature 77 above-ground floors.Although construction only got underway in 2023, there are some grandiose plans for the building which is located in Tonle Bassac, Khan Chomkarmon. A sky pool and sky bar will be located on the 77th floor, and if completed, it means the J Tower 3 could have the highest outdoor infinity pool in the world. One floor above the pool will be an observation deck with panoramic city views.OCIC Koh Norea Project - 500 Meters HighThe Overseas Cambodia Investment Corporation (OCIC) unveiled plans for a monster-sized building in November 2023, which is expected to be over 500 meters high and based in the Koh Norea development area of the capital - which could make it easily the tallest building in Cambodia.OCIC Deputy General Director, Touch Samnang, confirmed the project but we know over the years that a project being announced does not necessarily mean it will come to fruition.The building is planned to be constructed on the left-hand side of the Koh Norea Bridge, and the Cambodian PM cited the development, adding,“As I know, Koh Norea is planning to build the tallest building with a 555-metre height. Hopefully, it will be here, not just a high building in Cambodia, but also a high building compared to the region.”Naga World 3 Tower - 75-Story Hotel When Naga 3 was first announced, it was going to be the tallest building in Cambodia and stand at 358 meters tall. The 75-story hotel tower and casino project in Phnom Penh was due to be completed in 2025, however, in 2023 it was announced the plans for the project were placed on hold and completion would not be possible before 2029.The addition of the Naga 3 complex would see the addition of 5,000 hotel rooms across three towers and initial costs were placed at USD $ 3.5 billion.Picasso 2 - Phnom Penh CondoThe Phnom Penh condo residential property is located in BKK1 and construction launched at the tail-end of 2023 with limited information available. Based on the proposed plans of 56 floors, this condo could be in the mix for making the tallest buildings in the capital when it's completed in approximately 2027.With an estimated number of 700+ buildings in Phnom Penh exceeding 9 floors, and more than 50 buildings with 40 floors or more, the city continues to rise skywards and it will be interesting to see what buildings stand tallest in the city by 2030 and beyond.

As 2023 draws to a close, we look at some of the most exciting condo units which were launched and are being developed in the Cambodian capital of Phnom Penh, with each residence set to add something new to the urban skyline and increase the choices for potential home-buyers and investors.There were ten completed condo projects and three new launches in the first half of 2023 in Phnom Penh alone, which added 1600+ condo units to the market, while 8,000 were expected to be added to the supply by the close of the year. While the market has faced headwinds, according to the inaugural semi-annual report released by the National Bank of Cambodia, the condominium market saw a 12.9 per cent increase in the first half of 2023.In total, across the first three quarters of 2023, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) granted licenses to 2,600 construction projects worth a total investment of $4.96 billion.For foreigners and locals looking to purchase real estate, Cambodian condominium units remain attractive, so which are some of the residential condo projects that have launched that are most exciting?J Tower 3 - Luxury Condo In Phnom PenhJ Tower 3 is a residential property condo developed by a trusted Japanese real estate developer Tanichu Group who have a proven track record and completed three successfully launched projects in the Kingdom (J-Village Apartment, J-City, J-Tower 1 & J-Tower 2).When completed, the J-Tower 3 Condominium will be the tallest building in Cambodia at over 300 meters high and will contain 77 floors (with two additional underground floors offering 252 rental parking lots) and it hopes to establish itself as a new landmark in the capital. There are ambitious plans to offer its residents comfortable and luxurious living standards in a prime location and the building could also be among the ten highest in Asia when completed.Standing at 310.5m on completion, the condo covers a total area of 98,480 m² and is constructed with reinforced concrete to ensure durability and safety. Some of the features include:A sky pool and sky bar will be located on the 77th floor, with breathtaking 360-degree views of the expanding city and its surroundings. An observation deck will be installed on the 78th floor.The 50th floor will house a high-end cafe and luxury lounge, a mini shop, as well as a business room.An inner pool, kids pool, sauna, public bath, and spa, will also be available on the 49th floor.The swimming pool and fitness gym are located on the 29th floor.An outdoor park is planned for the 28th floor.The 11th floor will provide a dedicated Kids' Play Space, a pool bar (billiards), and a table tennis hall.Tani Shunji, the CEO of developer Tanichu Group claims the infinity pool on the 77th floor will be the highest pool in the world, although depending on the type of pool, there are higher pools in China, Hong Kong and Dubai - but this could be the highest outdoor infinity pool on the planet!In total, the developer plans to offer 360 3-bedroom condo units to residents, which range from 166m2 to 178m2. There should be smooth and efficient access to the floors via the building's eight elevators.Location: Tonle Bassac, Khan Chomkarmon (Phnom Penh)Prices: USD $320,000+Completion Date: Q4 2028 (estimated)Time Square 302 (Time Square 6) - BKK1 Urban Living CondoTime Square 302 (which is also known as Time Square 6) is the 6th property project from Mega Kim World Corp who have a reliable track record of successful condo projects in the capital.Based in centrally located BKK1, the Time Square 302 condo property will offer buyers a range of one-bedroom and two-bedroom units as well as 3 and 4-bedroom duplex units (from 57 m² to 170 m²).  The developer aims to provide contemporary and modern urban living in the Cambodian capital with construction brought forward and getting underway in Q3 2023 with off-plan sales already tracking very well.There are 370 units located at Time Square 302 which covers 977 m². Some building and residence highlights will include:48th-floor rooftop with fitness and lifestyle facilities, including a yoga studio, fitness centre, swimming pool and a canopy garden.The 37th floor offers a ping pong room, golf simulation area, cafe/ lounge/ games room, a kid's play area, meeting room, cinema & karaoke.At 190 meters tall, the developer aims to offer quality and affordable homes to local Cambodians and foreigners as well as investors.Location: Boeung Keng Kang 1 (BKK1), Phnom PenhPrices: USD $100,000 - $300,000Completion Date: Q1 2028 (estimated)Picasso 2 - BKK1 Mixed-Use Development Our final highlight from 2023 is the Picasso 2 condo residential property located in BKK1. The premium urban living project is being developed by Global Titan Stone Development, who also have a reliable track record of property projects in Cambodia. They previously launched a sold-out Picasso 1 City Garden in BKK1 which was completed in 2021.Located in the centre of Phnom Penh at the intersection of Street 57 and Street 282, Picasso 2 offers a prime location which covers 56 floors of luxurious condominiums as well as high-class amenities, and even shophouses.There will be one-bedroom units available and the development will include fitness centres, landscaped gardens, and communal spaces as well as a rooftop leisure area providing residents with panoramic views of the capital.More details on the pricing of the units are still to be confirmed and the condo has an estimated completion date of 2027.Location: Boeung Keng Kang 1 (BKK1), Phnom PenhPrices: TBCCompletion Date: 2027 (estimated)Property Outlook For 2024In Southeast Asia, a recent survey by price-tracking platform Numbeo, tracks Phnom Penh as fourth in terms of least affordable based on property price-to-income ratio in the region, with the Cambodian capital behind Ho Chi Minh City, Manila, and Bangkok. This is meant to reflect apartments which are least affordable in the region, as a higher price-to-income ratio indicates lower affordability. However, the CEO of developer Tanichu Group remains optimistic, saying in late 2023; “There will be ups and downs in any city’s real estate sector on the basis of fund flows and in the Kingdom, the situation is quite stable. Of course, there is a slowdown caused by the pandemic and a decrease in fund flows from China. But the sector will resurge.”As we have highlighted throughout 2023, the economic outlook for the Kingdom remains comparatively strong in the region, especially compared to global GDP growth. Cambodia also has the strongest FDI momentum heading into 2024 and remains an attractive option for investors.The adjustment of prices in the local housing market, a shift in developers and agents' marketing tactics as well as a change in construction styles and payment procedures have been seen as positives, while the need to buy from trusted developers has been a priority for buyers and investors in Cambodia.

Phnom Penh, Cambodia - Le Condé BKK1, a premium residential project located in the heart of Phnom Penh, is celebrating an important milestone with its Top-Out Ceremony on 26th October 2023. This marks the completion of the highest level of the building and is a significant step towards the final delivery of the development.Le Condé BKK1 has been one of the most sought-after residential projects in the region, offering luxurious and sophisticated living spaces to its residents. The property is strategically located in the prestigious BKK1 district, with easy access to major commercial and entertainment areas of the city.Designed by a renowned international architectural firm and inspired by the first Cambodian architecture Mr. Vann Molyvann, Le Condé BKK1 features a unique blend of contemporary and traditional architecture. The development boasts state-of-the-art amenities of more than 10,000 sqm, including a swimming pool, fitness centre, 240m of Sky jogging track, 800 sqm of Children's Play Paradise, 1,000 sqm of immersive sky garden, and Boutique Reading Space.As part of the celebration, the developers of Le Condé BKK1 have announced a 5% increase in the price of the remaining units. This increase will come into effect on 1st November 2023. Interested buyers are encouraged to take advantage of this opportunity to secure their dream home in this iconic development before the price increase.“We are thrilled to have reached this important milestone in the development of Le Condé BKK1,” says Mr. Dylan Hao, Wang Fu Guo Ji Property Development General Manager of Sales & Marketing. “We have worked tirelessly to ensure that this project is of the highest quality and we are confident that it will exceed the expectations of our valued clients.”Le Condé BKK1 is expected to be completed in quarter four of 2024, and the developer is committed to delivering a world-class living experience to its residents.About Le Condé BKK1:Le Condé BKK1 is a premium residential development located in the prestigious BKK1 district of Phnom Penh. The project offers luxurious and sophisticated living spaces, with state-of-the-art amenities and 24-hour security. The development is designed by an internationally renowned architectural firm and is expected to be completed in quarter four of 2024. Click Here To View Le Condé Listing

With the opening of the Siem Reap Angkor International Airport (SAI) on 16th October 2023, which garnered local, regional, and international news coverage, there comes a weighted amount of expectation the international hub can reinvigorate tourism and help propel a tourism recovery well into the future.The airport’s inauguration was attended by Vongsey Visoth, Permanent Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers, Mao Havannall, Minister responsible for the State Secretariat of Civil Aviation, and Sok Soken, Minister of Tourism and representative of Angkor International Airport Investment (Cambodia) Co., Ltd.At the opening, State Secretariat of Civil Aviation's Undersecretary of State and Spokesman Sinn Chanserey Vutha said, "With a 3,600-meter runway, the SAI is a 4E-level international airport that can accommodate long-distance flights from across the world. We hope the airport will attract new international airlines to operate direct flights to Siem Reap province, home of the UNESCO-listed Angkor Archeological Park." Cambodia’s Latest Economic NewsAs we approach the final financial quarter of 2023, most economic data still point to one of rebounding recovery for the Kingdom. Cambodia approved more than 2,350 construction investment projects between January-August which is a drop compared to 2022, and construction space and costs have risen 184 per cent and 186 per cent, respectively, reported the Ministry of Economy and Finance.For the period from Jan-September 2023, 191 new foreign direct investment (FDI) projects were approved which represented a 27 per cent increase compared to 2022. Chinese investors were the largest source of FDI but other investors included Vietnam, the Seychelles, Thailand, South Korea, Samoa, the United States, Singapore, and Sweden to name some.Economic growth forecasts generally range above 5 per cent for 2023 which are still in the top echelon in the region but there remain short-term and real threats too. In Siem Reap, which is so heavily reliant on tourism, the recent closure of The Lucky Mall was a shock to some but the decline in tourist numbers compared to pre-pandemic and fewer Chinese tourists have impacted the local economy, there might be a brighter horizon but there is a strain on local business.Siem Reap Angkor International AirportThe first flight to arrive at the new airport was a flight operated by Thailand’s Bangkok Airways, and the opening day saw 17 commercial flights operate.SAI has a capacity for 7 million air passengers per annum from 2024 onwards and is expected to increase to 12 million from 2040 after all phased construction is completed. This represents 65,800 flights per year from 2023 and 112,700 flights annually from 2040. This far surpasses the capabilities of the current Siem Reap International Airport (REP), which first opened in 1932.Funding for the airport was provided as part of the Belt and Road Initiative and with a price tag of approximately USD $1.1 billion. According to the Economic and Commercial Office of the Chinese Embassy in Cambodia, this is the first overseas international airport to be constructed under a “Build-Operate-Transfer'' model.The airport’s design is inspired by the traditional Cambodian architecture style and offers 38 aircraft berths. Another key economic consideration is the airport's ability to handle 10,000 tonnes of air cargo per year from 2023, climbing to 26,000 tonnes a year from 2040.What Is Available At SIA For TravelersFor travellers, although there has been little official information promoting what is available at the airport, there is a wide range of retail and F&B offerings at the airport. There are duty-free outlets run by China Duty-Free Group (CDF Cambodia), Newrest operates the food & beverage operations, and Seal & Go operates the baggage wrapping concession, and sells travel accessories and suitcases. Monument Books, the country’s largest bookstore chain, runs mobile retail kiosks under a franchise agreement with the Relay brand owned by Lagardère Travel Retail (as part of a 10-year contract.)Transport Options for Siem Airport International AirportSAI is located about 40 kilometres away from the Angkor Park and travel to and from the airport was a potential concern as it is relatively easy and cheap from the current airport in Siem Reap.In addition to informal transport services, transportation services at the new airport were issued by Angkor International Airport Investment (Cambodia) Co., Ltd. to the Tourist Transport Association for Siem Reap International Airport (TTA) to operate the taxi service to ensure the travel of tourists. There is also paid parking at the airport.TTA operates 261 minivans (less than 7 seats) and 69 minibuses (8-15 seats). The costs are $35/40 for a minivan or $8 per person on the minibus.One of the early criticisms is the frequency of the shuttle service which is reportedly only four times per day.Travel And TourismCambodia’s Ministry of Tourism reported that 3.7 million air travellers arrived in the Kingdom between January - September 2023. This is a massive jump of over 250 per cent compared to the same period in 2022 but still down nearly 20 per cent compared to 2019.The State Secretariat of Civil Aviation has forecast 4.6 million flyers by the end of 2023, with the end of the year usually signalling the peak season for tourism to Cambodia.In total, 37,200 flights operated to Cambodia in this period - a year-on-year rise of 103 per cent.Travelex has partnered with the National Bank of Cambodia to start trading Cambodia’s currency, the Khmer Riel (KHR), at Singapore’s Changi Airport.AirAsia plans to begin flights through its new Cambodian air operator’s certificate (AOC) by the end of 2023.The Right Marketing Is Needed To Promote CambodiaThe many ministries of the Cambodian government have embarked on positively promoting Cambodia to international travel, and there have been ongoing efforts to partner with agencies to showcase the country to travel, as well as efforts to increase direct flights with a number of new territories.One interesting potential boon is the impact of cinema. Lara Croft: Tomb Raider came out in 2001 and propelled Angelina Jolie to stardom and initiated a long-standing connection between her and the Kingdom. More recently Raya and the Last Dragon drew inspiration from Asia including Cambodia.Over recent weeks images (unverified) of a new Disney Pixar movie called Angkor Wat appeared on social media with a release date slated for 2025. We can find no official listing of the production from Pixar, but a theatrical release like this would undoubtedly garner huge global interest and attention which should be capitalised on.There have also been plenty of efforts made to improve Siem Reap itself, with the refurbishment of roads, adding bicycle paths and the city continues to boast some of the best and award-winning hotels in the region. Cultural activities such as the Phare Circus are a big attraction and new projects such as an Immersive Angkor museum remain in the pipeline.Gateway to AngkorSiem Reap remains a compelling tourist destination as it is the gateway to visit the 401 sq km World Heritage Angkor Archeological Park - the most popular tourist destination in Cambodia.Ministry of Tourism Secretary of State Top Sopheak said Cambodia received over 360,000 Chinese visitors in the first 8 months of 2023. This is a rapid year-on-year increase of 611 per cent but compared to 2019, it still is far off the pace, when more than 2.36 million Chinese visitors explored the site. There is a narrative from government and tourism officials that Siem Reap Angkor International Airport will help bolster these numbers, which may well be true. But data shows overall that Chinese tourism in the region is waning and the county has its own economic headwinds, as well as some stigma attached to travelling to parts of Southeast Asia.In the mid to long term though, the new Siem Reap Angkor International Airport will allow international airlines to fly directly to Siem Reap, and boost the number of tourists, businesspeople, and investors to come and understand the potential of Cambodia.

If you are considering investing in the Cambodian real estate market or are even intrigued by how payments work for renting a property in the Kingdom, we will try and help you explain the basics and what to do to make transactions easier.It should be said upfront that it can be challenging for foreigners to apply for a mortgage or home loan with banks in Cambodia, so as a buyer, it is important to choose the easiest payment methods to complete your property investment plan and consider the fees involved with overseas transactionsCambodia is the most preferred destination especially for USD holders as a majority of property transactions are completed in USD. There are a few benefits in this being.Investing Or Buying Property in CambodiaThere is a detailed breakdown of making payments for purchasing a property in Cambodia. Common payment methods for buying property include:Monthly installment payments - Monthly installment payments allow for regular payments over a set period of time, instead of paying the full price upfront - this makes it more manageable for consumers.Payments based on construction progress - This financing method (which is fairly common in the construction industry) entails dividing the total cost of the project into several installments, which are paid based on the completion of specific stages of the construction process. The payment schedule is typically outlined in the construction contract (which should be thoroughly checked and read). Milestones and percentages of the total cost are assigned to each installment.Full payments - Reasonably self-explanatory but the full amount is paid for a property usually within 30 days of signing the sales agreement. This is the preferred payment method for buyers and investors seeking the best investment price.Bank financing - This is the financing provided by a traditional lending institution such as a bank or credit union via a mortgage or loan but is mostly for Cambodian citizens.An increasing number of banks have been offering loan services to the real estate industry, and some banks do provide loan support to international investors outside of Cambodia. Some long-term foreigner residing in the Kingdom who can show proof of income and their work history in Cambodia might be eligible to obtain a home loan from a bankA recent report from Mekong Strategic Capital suggests that Cambodian real estate-related loans make up a third of total loans and have dominated growth over the past decade.It is recommended that buyers and investors inquire with the developer during property viewing if they have partnered with any banks to provide loan services to foreign buyers.Realestate.com.kh also offers a loan calculator to estimate how much you will need to pay per month if you choose to buy a property through a loan.How Does Rental Payment And Deposit Work In Cambodia?In terms of renting in Cambodia, there isn't a strict regulatory framework in place, but common practices among Cambodian landlords are to include all details for the renter in a rental contract which includes all details concerning the security deposit, obligations, utilities fees and other fine print which could include the early breaking of the contract etcA security deposit serves as a safeguard for landlords against potential damages or breaches of contract and is a common aspect of renting in Cambodia. The exact amount of the security deposit can vary and often depends on the landlord's discretion but 1-2 months would be seen as normal for 1-2 year rental agreements - the longer term rentals often can mean a negotiated price lower than the regular asking price.Some landlords, in cases of contracts spanning several years, might require a higher security deposit, ranging from 5 to 6 months' rent but this is rare - landlords would often be happy to have a long-term reliable tenant who pays on time.Tenants are usually required to pay rent in advance for each month of their tenancy and on a regular date. Tenants should be aware of this schedule to ensure timely payments and a good landlord-tenant relationship for a healthy relationship.It should be clarified how the utilities will be paid - utility fees such as water, electricity, and sometimes garbage collection are often paid separately (and quite easily in 2023 as many banking apps make it very convenient to do so). Some landlords might  include utility fees in the rental payment to simplify the payment process for tenantsRental fees might not encompass all amenities such as for Wi-Fi, cable TV, and parking, could be separate from the base rent. It should be clarified upfront what would happen if, as a tenant, you decide to terminate the contract early. A landlord may retain the deposit or need a one-month notice period - often the final month’s rent can be used in lieu of that month's rental fee.Remittance and International Transfers To CambodiaTransferring money to Cambodia is a relatively straightforward process, but it is important to have the correct documentation and comply with relevant laws. Under the Law on the Foreign Exchange of September 1997, there are no restrictions on foreign exchange operations through authorised intermediaries, including purchases and sales of foreign exchange on the foreign exchange market, transfers, all kinds of international settlements, and capital flows in foreign or domestic currency between Cambodia and the rest of the world or between residents and non-residents.Before transferring any amount of funds to Cambodia, it is important to check with your own bank in Cambodia to ensure that the correct documentation is completed and compliant with relevant laws.Although international money transfers are not complicated, they are still seen as relatively in Cambodia but progress has been made:Cambodia was removed from the grey list -  a list of nations under the Financial Action Task Force (FATF) - in 2023 and this should open up the ease of transfers globally.There is an increasing number of banks that have signed MoUs with global payment partners to allow for easier, faster, and more affordable remittance payments.Crypto payments are still not accepted but the government has been working with Binance to better understand the framework for cryptocurrency payments.Remittance transfers from Cambodians were worth approximately $2,63 billion in 2021.The value of the transfers was estimated to reach a projected $2,720 million by the end of 2022.It’s always best to check with both your local bank and the developer to see what your options are for payments and the fine details and an honest conversation with your landlord to make sure you know what you are entering into with regards to payments for rentals. Always ensure you have checked for additional or hidden fees that may be involved with transfers, and many services may run zero per cent fees on occasion.