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.

With the new year upon us and the schools having re-opened across Cambodia, there is generally also an influx of new residents to the Kingdom, some of whom will undoubtedly have made the move for the first time with their families.Although Phnom Penh, for example, can’t ever claim to be the greenest city in the world, there are some green spaces and parks as well as other family-friendly attractions and great activities to be enjoyed, with other Cambodian cities and urban areas also taking these into consideration. Beyond the usual commercial and retail property developments, markets and tourist attractions help contribute to the economy and encourage small and medium-sized businesses, while foot traffic and motorised traffic at these attractions and activities also play their part in urban planning and on residential and business property prices. What Cambodian Parks Can You Enjoy In 2024The capital of Cambodia and other towns and cities have been diversifying the use of available land by adding new family-friendly attractions to their urban environment, and hopefully, more green spaces, as these have been proven to be important for many reasons. Samdech Vibol Panha Sok An Kirivong Cultural Park - TakeoThe cultural park is due to be completed in Q1 2024 and is being developed by SOMA Construction & Development Co., Ltd. in Boeung Tonleab, Preah Bat Choan Chum commune, Kirivong district, in Takeo province. Intended to be 500 meters long and 100 meters wide, the Samdech Vibol Panha Sok An Kirivong Cultural Park is located along National Road 2 and has been funded by the family of Samdech Sok An in tribute to the deceased former Cambodian Deputy Prime Minister who grew up in the area.Based on the initial photos released by SOMA towards the end of 2023, it is looking very family-friendly and picturesque.Included at the park will be a statue of Samdech Sok An, a library, sports court, gyms, café, a lounge, as well as a kid's playground. In addition, the water features mean there is a boating area planned as well as other public events areas.The Cambodian park is intended for locals and guests to enjoy a leisurely walk and to exercise, while the public library will be available to help empower education and “to serve other public interests in the future”, said the province's governor. Takeo is also one of the stops on the southbound passenger train from Phnom Penh so it's an easy day trip from the capital.Coconut Park - Phnom PenhOne of the most popular parks in the Cambodian capital, Coconut Park is a free public park located on Koh Pich and has some greenspaces as well as restaurants, bars, a roller skating rink (CIS Roller Dome), bike trails, a Splash Pad, and the area also has been host to markets and other events.The Makerspace Ceramik Art Studio also has a range of interactive activities for kids and adults with the creative space providing a Lego studio.Aquation Phnom Penh / Treellion ParkNot far from Coconut Park, Treellion Park is home to the city’s only put-put course (Birdies Mini Golf), and the DIB club swimming pool is popular for all ages. The surreal statues and garden decorations make Treellion Park an interesting place to wander around and there are increasing choices of eateries such The Bus and the Glasshouse.  The area has also been used for concerts and music and themed events. There was even karting introduced in 2023 (Kart Station) but this appears to have been suspended.Sunshine Family Park - Phnom PenhThe Sunshine Family Park is located in Phnom Penh on Ayasmayan West Street (113) which was completed towards the end of 2023 and is self-billed as a “power-free amusement park” thus, the first of its kind in Cambodia.Presented as a theme park with staff in costumes, there are plenty of Instagram moments, with inflatables set up for youths to play on, but there are also slides, jungle gyms and other attractions intended for kids. The venue has already been holding live music concerts so it may not suit everyone’s tastes, and there is a night market selling food and drinks. Garden City Waterpark - Phnom PenhAlthough not a green park, this water park is a welcome relief to the endless hot months in Cambodia, and the Phnom Penh water park is probably the biggest in the country offering more than 38 slides as well as a 550-metre-long Lazy River. The Kids Paradise water playground is PG13-safe but older kids can still get their thrills on slides such as the Kamikaze water slide.Kampot River ParkAlthough it can get busy, especially over the weekends, the Kampot River Park offers water slides, a water park, zip lines, as well as activities such as kayaking, paddle boards and pedal boats to be used on the river. There are also bungalows and a restaurant serving local food as well as drinks.Located at the Toek Chhou Rapids approximately 10 kilometres from Kampot in Bat Kbal Damrei village, Makprang commune, the park is meant to be open from 10am to 5pm.Suggested Cambodian Family Activities 2024Angkor Eye - Siem Reap Siem Reap has ample green space and plenty to do for locals, tourists, and expats. One of the attractions worth families checking out away from the temples is the Angkor Eye, which is a 60-metre-high Ferris wheel (the tallest in the Kingdom) offering stunning views of the countryside and a different perspective of the famous Angkor Wat complex. It's worth booking a trip at sunset for the Golden Hour at and stunning views and family portraits. You can also book an afternoon tea or cocktail experience in one of the capsules.Kids of all ages are welcome if accompanied by an adult, and as a bonus, children under 3 ride for free if accompanied.KHMER Streat - Food Festival & Night Market There have been an increasing number of markets to pour over the weekends in Cambodia’s capital - with farmers markets proving a hit.This new food and night market is planned to launch in January 2024 and will be located in the Koh Norea area which is undergoing massive development.KHMER Streat - Food Festival & Night Market is intended to be for families and individuals and will offer Cambodian and international cuisine with entertainment also planned such as live music, cultural performances, and games. The market is scheduled to be open from 4-11 PM on Fridays, Saturdays, and Sundays.N5 Night Market - Phnom PenhOpened in November 2023, N5 is the Biggest Night Market in Phnom Penh. There are several such markets in the city, including the Night Market in Borey Peng Huoth Boeung Snor, Prince Plaza Night Market, and 60M Night Market etc. On its debut to the north of the city, it was estimated to have received as many as 30,000 visitors enjoying goods from over 300 vendors! The park was developed by Prince Real Estate which has a view of ‘building a better life’ and modernising urban Cambodia through high-quality developments. The development costs totalled USD $1 million, and the park covers an area of 18,000 square meters. There are food, drinks, handicrafts, a graffiti wall, as well as live music shows, a kid’s playground, grass lawns and even a gaming zone.These are just a small selection available but with the anticipated publication of ‘Projects for Phnom Penh: Urban Green Network Regeneration’ by Urban Lab and the American University of Phnom Penh in 2024, more eco-friendly and sustainable markets and urban spaces will be placed in the spotlight as the urbanisation of the Kingdom of Cambodia races into the future.

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.

Phnom Penh, Cambodia 5th of October 2023  — Realestate.com.kh, the leading integrated real estate platform in Cambodia, is pleased to announce the appointment of Simon Griffiths as its Head of Real Estate. Griffiths, a prominent figure in the Cambodian real estate industry, brings over a decade of experience and a proven track record of success to his new role.Simon Griffiths has spent more than 10 years in the Cambodian real estate sector, contributing significantly to its growth and development. Griffiths founded The Mall Company in 2017 and shall continue to lead The Mall Company while taking on his new responsibilities at Realestate.com.kh. Prior to The Mall Company, Griffiths played a pivotal role at CBRE Cambodia (2011 – 2017), where he helped establish the firm’s presence in Cambodia establishing himself as a respected and knowledgeable leader in real estate.At realestate.com.kh, Griffiths will spearhead the launch of a new range of professional real estate services. This includes residential sector market research, condominium development consultancy, and personal property management (PPM). His deep knowledge of the Cambodian real estate market and his strategic acumen will be invaluable in further enhancing Realestate.com.kh's offerings and strengthening its position as the leading platform for real estate solutions in Cambodia.Griffiths' appointment as Head of Real Estate at RealEstate.com.kh marks a significant milestone for the company. His leadership and expertise will undoubtedly play a pivotal role in driving innovation, growth, and excellence in the Cambodian real estate industry."We are thrilled to welcome Simon Griffiths to the RealEstate.com.kh team," said Tom O’Sullivan, CEO of Realestate.com.kh. "His wealth of experience and industry knowledge make him the perfect fit as the Head of Real Estate. With Simon on board, we are confident that we will continue to deliver exceptional value and services to our clients, ensuring our place as the leading real estate service provider in Cambodia."Griffiths commented “It is an honour to join realestate.com.kh as Head of Real Estate. Realestate.com.kh is already well known as the leading property portal in Cambodia, but the extent of its capabilities goes well beyond being a property portal. Through the introduction of a series of new professional services, realestate.com.kh will launch a range of high-quality end-to-end assistance for investors and developers.I am looking forward to this and working closely with Tom and the team at realestate.com.kh!”For more information about RealEstate.com.kh and its real estate services, please visit www.realestate.com.kh.About Realestate.com.khRealestate.com.kh is Cambodia's leading property platform for buying, selling, and renting real estate. With a comprehensive database of properties, buyers, extensive market knowledge, and a team of dedicated professionals, Realestate.com.kh provides a one-stop solution for all real estate needs in Cambodia.Media Contact:Marie LamyHead of Content Realestate.com.khmarie.lamy@realestate.com.kh

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.

A new school year has already started for some in Cambodia’s capital, while other schools are in the process of preparing for the return of new students, teachers, and families to the various local and international schools situated around Phnom Penh.With new families and teachers arriving, which is an annual event at this time of the year, especially with the growing urbanisation of the city and the increasing numbers of international schools, choosing the right property to rent or buy should include various key decision-making factors.International Schools In Phnom Penh There is a growing demand for international education, and Phnom Penh is home to several highly-reputable international schools. There are thought to be more than 50 international schools in the capital in 2023, some are standalone, part of franchises, or spread across multi-campuses.The city also ranks among the most affordable in the region for international school education - the latest report from the International Schools Database suggested that Phnom Penh is in fact the second cheapest in Asia for international schools.Median prices for international schools are approximately USD $4,908, with highs of USD $20,340 per annum, suggested the report. Some of the leading international schools include the International School of Phnom Penh (ISPP), Northbridge International School Cambodia (NISC), Canadian International School of Phnom Penh (CIS), Lycée Descartes René Descartes and many more.For parents and families, it is important to decide if you want your children to follow American, British, French, Australian, Singaporean, or MoEYS curriculums when selecting the appropriate school, but there are fantastic educational services in Cambodia at international schools that offer a supportive and stimulating environment for their children's educational journey.Where Are Schools Located in Phnom Penh?Phnom Penh boasts a diverse range of educational institutions, catering to students of all ages and nationalities. The range of education has come on leaps and bounds and also spread more evenly around all corners of the city as Phnom Penh expands its urban creep in all directions. Reputable international schools often have a mix of experienced locally trained and international faculty staff and offer better facilities such as sports grounds, IT and technology labs and even drama theatres.Some of the notable areas with a concentration of reputable international schools in Phnom Penh include:BKK (Boeung Keng Kang)Daun PenhToul KorKSouth of Phnom PenhBuying Or Renting In Phnom Penh?If the move to Phnom Penh is a long-term one, buying a property is an understandable option but evaluating if the property will hold a high value and can potentially deliver on ROI (Return On Investment) are important. However, the valuation is probably not the only factor in determining the final choice. Safety, location, surroundings etc all play their part and these apply to renting the right property too.Properties located close to schools have an advantage due to the consistent demand from families and individuals seeking convenience and accessibility to educational facilities. Shared homes such as villas or condos and flats located near schools also hold great appeal for teachers and staff working at these educational institutions.Many families and teachers new to the city will choose to live within a reasonable distance of schools to save time and money. Hence good properties in prime areas can attract potential tenants from the school staff and higher rental demand.Settling in with your family or by yourself, it is shrewd to consider that properties near popular schools is a proposition that may attract both homebuyers and real estate investors. Properties located in areas with schools and other institutions have the potential for significant appreciation in property value, as they are sought-after in the real estate market.Cambodian Property Market Oversupply - Means A Wider ChoiceThe oversupply of properties in Cambodia since the pandemic has actually had a positive impact on property prices if you are a buyer or renter.Developers are now driven to offer more affordable options to attract buyers creating an opportune moment for buyers to acquire properties at a more reasonable price. In the same sense, it is a renters marker depending on the area you are looking at.The increased affordability has only enhanced the attractiveness of investing in Cambodian real estate, particularly for those seeking long-term investments and with a long-term view of their asset portfolio. For renters and buyers, it also means the oversupply of units in Cambodia has resulted in an array of choices for potential buyers and renters and some wriggle room for negotiation. The shift and correction in the market means has led to a wider array of projects available on the market, and the opportunity to select a property that best suits your preferences, requirements, and budget. This situation is likely to be temporary so do your due diligence, look for reputable developers and seek advice from professional real estate agents and advisors when renting or buying in Cambodia and in Phnom Penh.Location, Location, LocationOne of the key aspects is to focus on an area where you might actively live, work, and be happy.Currently, Phnom Penh's central BKK area has remained a highly desirable destination for visitors and expats seeking accommodation but is also among the most expensive. Schools located further away from the centre will likely have more affordable options in terms of property but might have fewer amenities but this is constantly changing.Below are some of the key considerations when choosing the right home to rent or buy in Phnom Penh:Safe NeighbourhoodThe continuous presence of parents and school & security staff, as well as the additional security measures around schools (CCTV, additional street lighting, zebra crossings etc), can positively impact the overall safety and security of a community and the area.Safety is a crucial factor when choosing a place to live especially when there is a young family to be considered. The reputation of a school can also have a positive impact on the area's safety and can significantly increase the desirability of properties nearby. As a result, in addition to peace of mind, the areas surrounding reputable schools can experience higher property value growth compared to other locations.Easy Access To AmenitiesSchools are usually located in neighbourhoods that offer various amenities, and Phnom Penh can be an anomaly as some of the best international schools were setup (at the time) what was considered the fringes of the city - but they have been surpassed by development. Some international schools would have been established on the outskirts of Phnom Penh to offer larger playing fields, more affordable large expanses of land etc but now there are better access roads, malls, cafes and a range of desirable amenities situated close by.This offers parents, students and staff access to more choices for meal breaks or after-school gatherings and just visible places to meet.For parents, and even the schools, the range of entertainment options in close vicinity to a school provides ample choices for recreational activities and areas such as parks, playgrounds, and recreational centres are becoming more in demand, and even a priority for new schools when they are established in Phnom Penh.Phnom Penh Keeps GrowingThe latest population census report released by the National Institute of Statistics of Cambodia highlighted some important trends, including family characteristics and population migration patterns. In 2019, Cambodia's population reached 15.6 million, with an annual growth rate of 1.4% compared to the 2008 census result of a population of 13.4 million. Phnom Penh continues to undergo urban population growth which means the city faces economic progress and infrastructure improvements but also new challenges to cope with the influx.Phnom Penh has in fact increased its area by over six times, reaching 679 square kilometres in 2019, and the World Bank indicated that Phnom Penh ranks second in terms of urban spatial expansion speed in East Asia. These facts are important as the city will keep growing outwards and vertically. If you had asked some residents today if ISPP or Northbridge schools would be enveloped by development at the rate they have been, few would have believed it.The southern region of Phnom Penh where ISPP and new mega malls are located is also the likely thoroughfare for the new Phnom Penh international airport which is under construction and likely to be operational by 2025 - with rumours of express bus lanes, light rail and other transport routes connecting the airport to the city all rumoured. Whether you are choosing to rent or buy, you need to keep in mind the area with vast development potential, the undeveloped low-cost land on the outskirts of the capital, and the continuously improving infrastructure projects which might change the city completely over the years to come.

Almost 100 of Cambodia's leading brands, developers, agencies, banks, and trust companies, along with popular lifestyle brands and a car showcase, recently came together for the country's largest property show of the year: The Home & Lifestyle EXPO 2023 held at the Koh Pich Exhibition Center, Diamond Island, last weekend, August 12th to 13th.This year's EXPO 2023 continued its success with over $15 million in property sales in just 2 days, featuring showcases, exclusive deals, and buyer incentives, confirming the sustained demand for property from within Cambodia and beyond.With the most reliable projects and popular lifestyle brands in the country, Realestate.com.kh’s biggest property show goes beyond properties. “Considering the current market conditions, we thought it was significant to have such an event. It is an opportunity to educate buyers about the pitfalls and what they consider when purchasing property, especially in this environment” said Tom O’Sullivan, CEO of Realestate.com.kh. “This year, we were particular with the types of developments and properties displayed at our event. I believe we brought out the country’s most trusted developers. The majority of projects displayed during the weekend were made to ensure quality and affordability. “Apart from projects, it was our first time introducing over 50 completed homes that were under market value. This expo was the ultimate chance to find properties in great locations at excellent prices. We were not surprised that most of these properties were snapped up over the two days,” he added.Organised by Realestate.com.kh, the biggest real estate platform in Cambodia, the EXPO series has been a staple of the country’s property sector gathering major brands all in one place for the benefit of Khmer home seekers and foreign property investors.The Home & Lifestyle EXPO 2023 received invaluable support from leading developers in the country such as Borey Peng Huoth, Orkide Development, Prince Real Estate Group, Bosba Property, Dragon Land, RoseMarvel Property Development, Urban Living Solutions and more. Other key partners in the private sector that contributed greatly to its success include IAAC Airport Advertising, Nham24, COGETEL (ONLINE), Poma Media, Khmer Times, Wowee Advertising, Provida Water, and B2B Cambodia.This year, it was also the first time that the EXPO proposed a concept for families. Local and international lifestyle retailers were able to showcase their products to the attendees. The two-day event also saw performances of Chhorn Sovannareach and Meas Soksophea ambassadors of Borey Bosba. Cambodia’s popular singers were highly anticipated and drew a large crowd to the event. The expo was also a fun day out for the family with Kids Wonderland, a dedicated play and activities area sponsored by SCIA and a food hall provided by Nham24. In addition, car enthusiasts had the chance to get close to the newest car brand and explore the future of mobility. Overall, the Home & Lifestyle EXPO was the place to be this weekend for families and property seekers.Cambodia’s most popular brands gave away prizes and other freebies to EXPO 2023 attendees. Adding excitement to the already eventful expo were the buyer and lucky door prizes given away during the 2-day expo. Prizes ranged from jewellery, vouchers, home appliances, and gadgets to premium services from the expo 2023’s commercial sponsors.The expo 2023’s big names, discounts, and prizes attracted big numbers as over 9,000 people flocked to the event over 2 days, all getting the chance to directly talk to developers and get much-needed advice and assistance in purchasing their dream homes and property investments.Real estate experts shared valuable insights on the Cambodian property market during the EXPO 2023. Some of the country’s leading experts, from various industries such as real estate & construction, banking & finance, insurance and many other lifestyle brands were present to provide buyers with guidance and advice. Rambo, 26, visited the expo and expressed excitement over the purchase of her first property in Cambodia. "I was able to learn more in-depth about the project and payment terms." The new homeowner of a villa in Borey Chankiri had the chance to win a new lounge chair set (Commune from T-One) with a golden egg prize following his purchase. The EXPO 2023’s $15 Million+ in sales showed interest to buy homes and invest in properties in Cambodia. As of writing, Realestate.com.kh continues to receive inquiries from would-be buyers of ongoing offers from EXPO 2023 Exhibitors. The Realestate.com.kh team thanks all attendees, exhibitors, and sponsors for making the Home & Lifestyle EXPO 2023.The Realestate.com.kh EXPO continues to set a new benchmark for Cambodia’s offline events and unveiled a market simply waiting for the right guidance and opportunities in the Kingdom’s real estate market.Looking for a property in Phnom Penh today! Contact our real estate experts to explore the best options that suit your needs and budget via our concierge servicesClick Here

The Royal Cambodian Government recently signed a sub-decree announcing the public holidays for 2024. One of the most significant changes is the extension of the Khmer New Year holiday. Traditionally spanning three consecutive days, next year's celebration will now encompass four days.Below is a chart displaying the dates and holidays for 2024Date Public Holiday January 1 (Monday)International New Year's DayJanuary 7 (Sunday)Victory over Genocide DayMarch 8 (Friday)International Women's DayApril 13-16 (Saturday, Sunday, Monday & Tuesday)Khmer New Year's DayMay 1 (Wednesday)International Labor DayMay 14 (Tuesday)King's Birthday, Norodom SihamoniMay 22 (Wednesday)Visak Bochea DayMay 26 (Sunday)Royal Plowing CeremonyJune 18 (Tuesday)Queen Mother's Birthday, Norodom Monineath SihanoukSeptember 24 (Tuesday)Constitutional DayOctober 1-3 (Tuesday, Wednesday & Thursday)Pchum Ben October 15 (Tuesday)Commemoration Day of King's Father, Norodom SihanoukOctober 29 (Tuesday)King's Coronation Day, Norodom SihamoniNovember 9 (Saturday)Independence DayNovember 14-16 (Thursday, Friday & Saturday)Water Festival Ceremony

There seems to be uncertainty in the air about property investments in Cambodia, despite the forward-looking data and overall sentiment from visiting investment groups which have been overwhelmingly positive. One of the legendary investment pioneers Warren Buffett's most famous quotes is “Be greedy when others are being fearful'' and eagle-eyed buyers have been snapping up Cambodian properties at good prices. This all depends on your strategy and goals but for some time we have suggested it is a cash-rich buyers' market in the Kingdom with market prices a better reflection of the value and new developments appropriately adjusting to the market and demands. Owning and Renting Property in Cambodia As A ForeignerCambodia introduced the Strata Title Law in 2010 and this enabled foreigners to own condos above the ground floor. The policy was aimed to attract foreign investment and stimulate economic growth- there are also no specific legal restrictions on foreigners renting apartments in Cambodia. Despite rates of urbanisation in the Kingdom among ASEAN nations remaining very strong, renting (or buying) an apartment is a relatively straightforward process, and it's easy for expatriates to easily find suitable options depending on their budget across Cambodia, particularly in the urban areas.Average asking prices for high-end condominiums in the capital were USD $2,609 per meter according to a CBRE Q1 2023 report. These have dropped off but property and condo investments are meant to be long-term holds and investors and buyers who hold on to their units will likely see future gains. The vision needs to be long-term and not panicked by ebbs and flows in any market.A recent report released by Realestate.com.kh highlights a substantial adjustment in the pricing of off-plan condominiums that occurred when contrasting 2019 prices with those in 2023. The report indicated the average price per square meter for off-plan condominiums in the capital has decreased from USD $2,800 to $2,000 / sq.m. We have addressed the market price corrections previously and this has led to off-plan condominium sales and robust sales rates for new condominium project launches in Phnom Penh, especially for well-developed new launches from developers who have established and proven track records.Buyers of property (both foreign and Cambodian) are better informed in their decision-making and there is more regular, and hopefully, reliable reporting on the markets. The current property market sees homeowners looking for quick sales - and the market still is advantageous for cashed-up buyers to secure purchases at favourable prices.According to the Semi-Annual Report 2023 from the National Bank of Cambodia (NBC), the total amount of loans released by banks in Cambodia increased to 11.9 per cent (USD $45.8 billion) in the first half of 2023. Housing loans increased 17.5 per cent (worth approximately USD $6.64 billion) compared to 2022 as the real estate sector grows in 2023. The NBC report indicated that housing loans by banks was the sector with the second fastest growth.While the sale of twin and single villa residential projects has declined, the Residential Property Price Index (RPPI) showed that the prices have not remarkably changed in 2023.Finally, the report added that the sales of condominiums in Cambodia have positively increased 12.9 per cent in the first half of 2023 compared to the same period in 2022 - while the number of construction projects has fallen approximately 10 per cent from 2,000 to 1,800.There were still ten completed condo projects and 3 new launches in the first half of 2023 in Phnom Penh which saw 1600+ condo units enter the market with 8,000 expected in total by the end of the year.Realestate.com.kh CEO Tom O’Sullivan said recently there was a spate of ‘revenge spending’  post-pandemic as some buyers thought it would be the last time to buy property at affordable prices before it bounced back stronger but this hasn't necessarily been the case in 2023 - also due to global economic headwinds. O’Sullivan said that the prices have stabilised in the Cambodian property sector to be more realistic and re-iterated that new developments that have launched in 2023 have offered lower and more realistic margins and are coming online at a great price.“Whether it's on our platform or those expressing an interest (with healthy down-payments or cashed-up investors) buyers are ready to take up the opportunities in the Cambodian property market,” added the CEO.Investor Groups Remain OptimisticThe global market conditions, the unease of how China has recovered in 2023, and the increased interest rates have all been headwinds for the local sector but these should be short-term.The recently released survey on EU business sentiments in the region is very favourable, while there have been on-the-ground investor visits from Singapore, Thailand, and China in 2023 who have been impressed by the scope of general business opportunities.The EU-ASEAN Business Council views ASEAN as offering the best economic opportunities over the next five years and some of the regional positives are all reflected in the appeal of Cambodia; macroeconomic conditions, the policy and regulatory environment, and the development of bilateral and plurilateral free trade agreements in the region. The investor sentiment was reflected in the fact that European businesses expressed a positive outlook on looking to expand their operations in ASEAN.The Cambodia Consumer Report 2023 (produced by Standard Insights and Cambodian-based consulting firm Confluences) provided an overall positive outlook towards economic growth too among Cambodian consumers - 91.83% are hopeful about their future.Why Cambodia Remains Investment Friendly There have also been a glut of investment reports released on Cambodia in 2023 and the same recurring themes remain the same and the same attractions ring true for the years to come.Realestate.com.kh Why Cambodia Guide, the DFAT Handbook on Investing in Cambodia, a collaborative endeavour between Cambodia and Australia, as well as the Profitence Cambodia Country Profile all sing to the same tune, Cambodia offers numerous advantages to investors:Solid economic growthStrategic geographical locationFavourable investment climate for foreignersGrowing infrastructure developmentSupportive legal framework and social and political stability.The country has been one of the fastest-growing economies in the region and GDP for 2023-2025 remains very strong even among frontier markets and especially in Asia. Cambodia has managed to successfully attract foreign direct investment, and the economic reforms are favourable to foreign investors while also optimistic for significant economic growth. The Cambodian market is actually very open to foreign investment, with 100 per cent foreign-owned investment permitted in almost every sector and foreign ownership of property in some cases also allowed, the expanded Trust laws are opening this up even further.Finally, there has been an alignment with international investment frameworks and a real attempt by the National Assembly to work with investors From the Trust Law, Construction Law, Law on Public-Private Partnerships, Law on E-commerce, Law on Social Security Scheme, Law on Consumer Protection, Competition Law and the Law on Investment).Finally, buyers and investors want stability. The scheduled swearing-in of the new Cambodian government reshuffle expected on August 22, 2023, should offer this continuity and stability as the nation will be led by a younger and foreign-attuned cabinet who are keen to implement and build on the progress made by the Kingdom over recent decades.

Phnom Penh is multicultural and forever morphing as the capital city balances its growth as a hub of investment and a destination of choice for business, Cambodians, and foreigners who might be relocating temporarily or permanently to the Kingdom. No city is without flaws, but the relative ease of transportation across the capital, the massive range of dining, retail options, sporting & leisure activities, as well as promising infrastructure projects in the pipeline, means there is plenty for families to enjoy in Phnom Penh. Affordable Living and Property - Phnom PenhNo matter which way you cut it, Phnom Penh remains an incredibly affordable capital city which offers a mixed variety of retail, leisure and all the bright lights that attract expats, Cambodians, business and travellers. The ease of living and affordability when it comes to housing options and the choice available is clear to see.From condos, to refurbished Khmer properties and shophouses, boreys and even villas - there is a budget and space available to everyone, but especially to those moving to the Kingdom from abroad. (For those bemoaning assumed rising costs, having just been through Hong Kong and in Europe, Cambodia has a long way to go to worry about being priced out of housing!)There thankfully also been a trend in the rise of incorporating green spaces in both residential and commercial properties in Cambodia, yes its not at the level we might all like it to be, but the combined importance of the environment’s well-being but also mental health has resulted in a demand for eco-friendly buildings, green infrastructure, and access to nature.Whether you are renting or you decide Phnom Penh is a long-term investment and living destination for you, there are several excellent guides to help you with the process, but the fact that foreigners can own property, own a business, and relatively easily renew visas in Cambodia are all attractive. Education In CambodiaThere are a large number of private schools operating in the Kingdom, and they are among the most affordable in the Asian region. The latest report from the International Schools Database suggested that Phnom Penh is the second cheapest city across Asia for international schools. More and more international school franchises continue to enter the market and the report indicated that the median prices for international schools in the capital of Cambodia are USD $4,908, with highs of USD $20,340 per annum.Whereas in the past, providing specialised services for youths and kids who need adaptive educational, developmental, emotional, or behavioural education would have been a challenge, the situation has improved. This is also true for mental wellness and specialists who offer expertise for children.Some Cambodian banks even offer junior bank accounts and promote tools for managing​ money​ and​ building​ healthy​ saving​ habits.Family Activities In Phnom PenhOver the past decade some fun family and group activities have come and gone, but there is probably a wider choice available now than ever before. Providing safer and more diverse playgrounds and recreational facilities for families with kids and tweens in mind have been more carefully planned and considered by developers, businesses, and to some extent the Sangkats.Utilising swimming pools on the weekend (either at condos or at the many hotels that allow outside guests) has been a longstanding pastime. That has been elevated with the likes of Garden City Water Park (which is also ideally located near the Phnom Penh Safari.)There are also escape rooms, Fly Phnom Penh (trampoline park) and even a skatepark located at The Factory which also hosts events and fairs.Other sporting activities aimed at youths (and many age groups) include the CIS Roller Dome, several coaching clinics and youth sports from AFL, GAA, Touch Rugby, Soccer, Basketball, a variety of MMA etc.Even if sports are not for you, there is a range of arts and crafts, music and dance, as well as board games cafes and clubs, Dungeons & Dragons groups and other tabletop game activities and clubs in the city (try Battle Forged for Warhammer and Games Workshop).Parks on Koh Pich (Diamond Island) such as Treellion and Coconut Park have regular events, live music and some greenspaces for the family with farmer markets becoming a regular occurrence.Coconut Park has held public film screenings, offers a kids splash pad area, and arts and crafts indoors as well as a dance studio. Treellion Park is home to the city’s only put put course (Birdies Mini Golf) and hosts several concerts and music and themed events, dining options, as well as the popular DIB club swimming pool and even Karting!Malls are everywhere now in the capital with more coming. This means they address the retail therapy needs but also offer welcome relief from the hot days as they are air-conditioned. There are many family-friendly activities (and better shopping choices for kids' toys and clothes as well as educational supplies.) From gaming arcades, bowling, to affordable cinema experiences (budget to Imax) the edutainment side will be on the up and up as malls compete for customers. Dining out, the surge of food delivery apps, and the sheer abundance of cafes and restaurants mean there is a wide range of international and local cuisine that is perfect for family feasts and for many budgets. One perk is there is better education on allergies and the availability of menus that cater for these as well as lactose intolerance and even gluten-free requirements but the sector still has to make some progress in this regard.There are also a plethora of online activities to keep families and kids entertained from online and mobile gaming, streaming services and so much more.Weekend GetawaysAside from the increased ease of international travel and flights -  especially with a mid-long term view of the additional and ambitious airports being developed in the Kingdom - there are such an abundant number of rail, ship, and highway projects under construction and in the pipeline, the reality is domestic and international travel will become more affordable, and less time-consuming. Getting the family in a car and heading to the coast and exploring the islands and a planned remodelling of Sihanoukville, venture to wildlife and nature at Kirirom, or head to explore Siem Reap, Kep or Kampot all over a weekend.If it's school holidays, or making use of the many public holidays still officially recognised in the Kingdom, escaping the city is as healthy and necessary as enjoying all of the benefits Phnom Penh has to offer on a day to day basis.The completion of the Phnom Penh Sihanoukville Expressway has significantly improved accessibility for domestic travel from Phnom Penh to the coast, reducing the travel time from six to just 2.5 hours - and the options of buses, private taxis or your own transport means there are multiple ways and budgets to travel by.Facebook and other social platforms such as Telegram are commonly used means to interact with expats and for specific activity and parenting groups in Phnom Penh.We have spoken to so many expats who have left the city over recent years, and all we spoke to are unified in their fondness of Phnom Penh. The ease at which you can socialise, travel, dine, and enjoy life are clear to those who call the capital home.

Realestate.com.kh is bringing back its massively popular Home & Lifestyle EXPO 2023. The event which is just one month away will be happening on the weekend of August 12 & 13, at Koh Pich Exhibition Centre.The Home & Lifestyle EXPO is part of Realestate.com.kh's annual events, offering attendees the opportunity to secure the best deals within the Cambodian market and also have the chance to engage with industry-leading banks, insurance providers, and real estate experts. The biggest names in property development across Cambodia will be on display including Borey Peng Huoth, OCIC, Orkide Development, Prince Real Estate Group, Morgan Group, RoseMarvel Property Development, Borey Dragon Land 598, Borey Bosba, Rose Apple Square, Odom, Bakong Village, Borey Chankiri, Leedon Heights, Le Condé BKK1, Creed Cambodia and many more. International developers and real estate companies will also be exhibiting at the event presenting opportunities to investors in Cyprus, Canada and the USA.Click here to register for express entry or inquire about being an exhibitor Win Big At The Home & Lifestyle EXPO 2023Apart from securing the best deals in real estate and other mid to high-end items, attendees will go into the draw to win some of the best prizes, including watches from Watch Empire, fine jewellery and more. During the two-day event, property developers and exhibitors will be providing exclusive incentives, freebies and more discounts and exclusive prizes to attendees and buyers attending the show. When, Where and What Time? The Home & Lifestyle EXPO 2023 will be held at the Koh Pich Exhibition Center. The EXPO 2023 will be held on August 12 & 13, Saturday and Sunday from 10:00 am until 8:00 pm both days. The Home & Lifestyle Expo 2023, Above and Beyond Properties & Services and Fun for the Whole FamilyLast year's expo proved to be an incredible gathering that attracted families and participants of all ages. Parents, children, and the elderly came together to spend a memorable day immersed in the world of real estate and lifestyle. “Last year’s event was our first since the pandemic, and was a huge success, beyond our and the exhibitors’ expectations. There are already 5,000 attendees registered to attend, and based on that we expect to break last year's record of 12,000 people.”“Ultimately, our goal is to give home buyers and investors an opportunity to get the best deals in real estate, cars and other items of the year. By adding attractions, kids' play areas, cars, an extensive food & beverage area and more it allows us to not only put on the biggest and best property expo but also to create an experience where people and families can have a great day out together. ” Mr. Tom O'Sullivan, CEO of Realestate.com.kh said.Click here to register for express entry or inquire about being an exhibitor A Series of Record-Breaking SuccessesThe most recent Real Estate EXPO held at the Premier Centre Sen Sok Phnom Penh in 2022 was a major success that broke the country’s biggest property sales event ever in Cambodia with a whopping more than $30 million in sales and attracted over 12,000 visitors. Cambodia’s Leading Boreys, Condos, Banks, Lifestyle & Corporate brands The who's who of Cambodia's property market and ancillary services are already onboard with more coming as the EXPO 2023 on August 12 & 13 draw closer.Major sponsors & key supporters include: IAAC Airport advertising, COGETEL (ONLINE), NHAM24, Legend Cinema, Wowee Advertising, Poma Media, Watch Empire, Provida Water, Cambodian Investment Management, B2B Cambodia, and Gold Zone Media.Exhibitors include: Borey Peng Huoth: The Eco Collection, The Star Polaris 23 Condominium, PH Grand Hall, Orkide Development: Orkide The Botanic City, Orkide The Pochentong, Orkide The Royal Condominium, Prince Real Estate Group: Prince Central Plaza, Prince Happiness Plaza, One Tropica, Morgan Group: Morgan Tower, Morgan EnMaison, Morgan Champs-Elysees, Overseas Cambodian Investment Corporation (OCIC), RoseMarvel Property Development: Mean Chey Residences, Urban Living Solutions: Rose Apple Square, Odom, Bakong Village, Urbanland: Borey Chankiri, Borey Dragon Land 598, MSQM ZTH: Leedon Heights, Le Condé BKK1, Residence H Sen Sok, Creed Cambodia, Borey Bosba, Chroy Changva Satellite City, Borey Heng Heang, Borey New Hope, Tourism City, Borey Mongkul, KH Land, ABA Bank, Canadia Bank, Shinhan Bank,  KB DAEHAN SPECIALIZED BANK, GAC Motor, ISUZU, Forthing, STMarket, ARISTO Developers, DeGrand Realty, Borey Mongkul, Upward Property, FazWaz Cambodia, Parc 21 Residence, eMedia Links, Simplex, Stronghold Trustee, Orkun Solutions, Hitachi Elevator, MOVE By LM CAR, DreamsTown and more.Media partners include: Khmer Times, B2B Cambodia, AmCham, Cambodia Investment Review, Property Area Asia, Gold Zone Media, The Cambodia China Times, Enjoy Cambodia, Business Cambodia, FreshNews, Koh Santepheap Daily, Kampuchea Thmey Daily, ThmeyThmey, CNC, BTV, PNN, Hang Meas, CTV, TVK, CTN, Jianhua daily.Click here to register for express entry or inquire about being an exhibitor The Home & Lifestyle EXPO is part of a series conceived by Realestate.com.kh’s founder Moek Chenda and the company’s CEO Thomas O’Sullivan with the vision of creating an event where buyers can secure some of the best deals in real estate. The event is completely free to attend, and apart from surveying the property market families can enjoy a great day out by visiting some of the attractions such as the latest in property technology, car test drive areas and kids entertainment zone.

In property acquisition, it is crucial to carefully assess the current market conditions to identify a favourable time for purchase. It is commonly known that property prices fluctuate based on the balance between supply and demand. While the Cambodian real estate market is currently displaying indications of oversupply, this situation may present advantages for certain buyers, considering the accompanying side effects it involves. In this article, we will explain why an oversupply of properties may have positive effects on potential buyers. Post-Covid Recovery Before the COVID-19 pandemic, the Cambodian real estate market witnessed a boom, resulting in the construction of residential and commercial units almost weekly. During this period, properties like villas and condos in Phnom Penh and Sihanoukville were in high demand and quickly sold out. This surge in sales can be partly attributed to the influx of Chinese investors and individuals looking to relocate to Cambodia. However, in the aftermath of the pandemic, there has been a decline in the number of Chinese nationals coming to Cambodia due to concerns about the safety of Southeast Asia and the real estate situation in mainland China. Consequently, several properties now on the market are available for acquisition.Tourism To Boost Real EstateAccording to a recent report from the Ministry of Tourism, several provinces in Cambodia experienced a significant number of visitors during the weekend of July 6 to July 9, 2023. Preah Sihanouk province drew approximately 61,380 individuals, while Battambang province welcomed 34,080 tourists. Phnom Penh received a total of 32,727 tourists, and Kampot province saw 28,137 visitors during the same period. Siem Reap province attracted 20,268 people, and Kandal province recorded 20,541 tourists. The recovery in the tourism industry after the COVID-19 pandemic is a positive sign that adds to the appeal of investing in property in CambodiaIn the first half of this year, Cambodia experienced a remarkable surge in international tourism, with 2.57 million visitors arriving in the country. This surge not only signifies a growing interest in travelling to Cambodia but also hints at a potential rise in future visits.As a result, it is crucial to acknowledge the increasing demand for commercial activities and accommodations to cater to these visitors. For those with financial means and a long-term investment goal, this offers a chance to enter the real estate market during a period of property availability.Oversupply Also Means a Wider Choice of PropertyThe oversupply of properties in Cambodia has had an impact on property prices, as developers are now driven to offer more affordable options to attract buyers. This situation has resulted in a reduction in property prices, creating an opportune moment for buyers to acquire properties with great prices. The increased affordability factor further enhances the attractiveness of investing in Cambodian real estate, particularly for those seeking long-term investments.Moreover, the oversupply of units in Cambodia has led to a wide array of choices for potential buyers. With numerous projects available on the market, individuals now have the opportunity to explore different options and select the unit that best suits their preferences, requirements, and budget. This abundance of choices empowers buyers to find a property that perfectly aligns with their specific needs, thereby enhancing their overall buying experience.Good Location For Good Investment When purchasing property, location is one of the most important factors to ensure its return on investment. Currently, Phnom Penh's central BKK area remains a highly desirable destination for visitors and expats seeking accommodation. This district, known for its urban development, offers many venues, restaurants, and attractions, appealing to tourists and residents. The area continuously improves, enhancing the overall experience for travellers and visitors alike. Currently, BKK, Chamkarmon, and their surrounding areas are the top choices for local buyers and investors, due to the ongoing success of developments delivering on capital appreciation and rental returns, even in a down market. Major developers to build residential and commercial projects. For example, Global Titan Stone Real Estate Development recently unveiled Picasso 2 in BKK, and ULS marked the beginning of construction for ODOM.As the current market is experiencing an oversupply of properties, it is important to note that research and look for reputable developers and seek advice from professional real estate agents and advisors.Cambodia's open economy makes it an appealing destination for individuals seeking to explore or invest in the kingdom. As visitors and investors keep coming, the oversupply of properties presents an opportunity for investors, and will gradually diminish, as the market leads to a more balanced market where supply and demand are more closely aligned. Therefore, those considering buying property in Cambodia should keep in mind that the current oversupply is likely to be a phase, and the long-term prospects for the real estate market remain promising. If you're a newcomer to property investment in Cambodia or eager to make an informed decision, reach out to our real estate specialist today for a consultation on the Cambodian property market. At Realestate.com.kh, we offer current insights and help customers find their dream properties every day.Looking for a property in Phnom Penh today! Contact our real estate experts to explore the best options that suit your needs and budget via our concierge servicesFree Consultation Here

At the start of the year, we tried to share some insights into the key economic and infrastructure development projects in Cambodia which had and have a real chance of igniting the long-term economic growth as the nation puts the pandemic in its rearview mirror. We are now beyond the halfway point of 2023 so we have revisited these projects and their progress as well as identified newly announced projects in the first half of 2023.Cambodian Trade and Economic GrowthThe Asian Development Bank and National Bank of Cambodia (NBC) both now forecasts that Cambodia’s gross domestic product (GDP) will grow by 5.5 per cent in 2023, which could place the country among the top three performers in terms of GDP growth in Southeast Asia. Even the cynics are optimistic about stronger performances from 2023-2024 with 6.6 per cent GDP growth predicted by the Ministry of Economy and Finance.Coming into 2023 the hopes for economic trade growth were probably largely pinned on Regional Comprehensive Economic Partnership (RCEP). In the first four months of 2023, Cambodian exports to RCEP countries did rise by 16 per cent. The Cambodia-Korea Free Trade Agreement (CKFTA) also came into effect in December 2022 and the addition of new FTAs (Free Trade Agreements) and with the important signing of the comprehensive economic partnership agreement (CEPA) with UAE, Cambodia is planting the right seeds for the future.This has been buoyed by clearer government-led strategic plans on logistics and modernising all logistics routes (land, sea, and air) with investments both local and foreign to try and transform the Kingdom to be a competitive trade and logistics hub.Cambodia’s economy is still reliant on the export of garments, tourism, agriculture and real estate and construction.The Cambodia Securities Exchange (CSX) is growing albeit slowly but H.E. Hong Sok Hour (CEO of the Cambodia Securities Exchange) is confident and with their aims this year to list more firms, double daily trading volumes to $1 million and triple the number of registered trading accounts to 15,000, Hour said that the average trading account is expected to increase by the end of 2023.The global fears of recession and inflation (throw in the ongoing Ukraine conflict, the energy crisis in Europe, and what has to date been an underwhelming Chinese economic recovery) have all dampened growth but Cambodia remains well-placed to see one of the fastest GDP recoveries.Cambodian Airport Developments & Rebounding Tourism & FlightsThong Khon, Cambodian Minister of Tourism (MoT) expects the Kingdom to attract 4.5 million international tourists in 2023 and is hopeful that this figure will reach over seven million tourists by 2025-2026. The official figure for visiting international tourists for the first half of 2023 was 2.57 million, the MoT confirmed. This period does include the SEA Games & ASEAN Para Games which helped spike inbound tourism numbers, nevertheless, the Kingdom is still on track to reach the MoT expectations. These goals are also only possible by the renewal of affordable and frequent flights, and to date, more flights have been announced with several international airlines scheduling the return of routes in the second half of the year too. So far in 2023, approximately 910,000 foreign tourists visited Cambodia by air, 1.63 million by land, and 30,000 by waterways.Announced in 2022, the launch of Air Asia Cambodia operations is apparently still on track for the backend of 2023 while multiple new flight routes are under constant discussion with key destinations such as India, Japan, the Gulf and elsewhere.In terms of the progress of the multiple new Cambodia airports under development, this is the latest by July 2023:Techo Takhmao International Airport - Construction is underway and the first phase is targeted to be operational by March 2025.(New) Rail Link to new Phnom Penh Airport - The Minister of Public Works and Transport (MPWT) announced in July 2023 that they are exploring an underground light rail transit to connect the airport to the southern part of the capital.Angkor Siem Reap International Airport - Due to be operational before the end of the year, a provisional official inauguration date was set for October 2023. The airport was 98 per cent complete by the end of June 2023.Koh Rong International Ecotourism Airport - Announced at the start of 2023 there has been hardly any news since.Dara Sakor International Airport - Delayed in 2022 and delayed again in 2023, the latest news in June suggested the developers had not completed construction to meet standards of aviation safety, according to the State Secretariat of Civil Aviation.A Resurgent Sihanoukville?Coming into the year, there still seemed to be some scepticism about how the coastal Cambodian city could be rejuvenated and the plans were still in development for transforming the Preah Sihanouk province into a model multi-purpose special economic zone. This is intended to form a key cog of the roadmap to develop the area into as part of the National Industrial Development Policy 2015-2025.Although the exact roadmap is not crystal clear, projects such as the Bay of Lights by Canopy Sands Development (which was also showcased in the Middle East this year), and the announcement of plans to tackle the unfinished buildings were laid out in 2023 - but if successful, the project will take several years to complete.2023 Cambodian Infrastructure Projects SnapshotThe ongoing infrastructure investments from the Cambian government in addition to private-public investments are one of the main reasons there is an optimistic mood for the future.Koh Pich-Koh Norea bridge - Construction has reached 85 per cent and the bridge is expected to be completed in November 2023 (Updated in July 2023).Korea-Cambodia Friendship Bridge - Final assessments were completed in 2022 and the expectation was for the construction to start in the second half of 2023 but there has been no official update for many months.Phnom Penh-Bavet Expressway - Construction officially got underway on June 7th 2023 and the second groundbreaking freeway won't be completed until 2027.Phnom Penh-Siem Reap Expressway - A feasibility study is underway, due to be completed in 2023.Phnom Penh-Poipet Express Railway - Study completed to increase the speed to approximately 160 km per hour.Phnom Penh to Preah Sihanouk Railway - Study is underway to upgrade this line.Kampot International Tourism Port - Although reported as completed in 2022, by July 2023 there is still a need to deepen the port’s waterway before it can be operational.Kampot International Port & Logistics Centre - Construction got underway in 2022 and the port’s first phase operations are due in 2025.Funan Techo Canal - Rumoured at the start of 2023 and finally confirmed with its name, this is a game changer for interconnectivity or the transportation of goods and to decrease costs. Launched in 2023 and not due to be completed by 2027.Sihanoukville Autonomous Port (PAS) - Long delayed but the Japanese-financed Sihanoukville container terminal expansion got underway in May 2023.Koh Kong Province’s International Seaport - due to be launched in the second half of 2023.Real Estate in Cambodia OutlookThe year has been challenging but there are green shoots for the property and construction sector. There is a sentiment that buyers and interested investors are being spread across more countries, and we think diversification is great.In June 2023, the Ministry of Land Management, Urban Planning and Construction reported that Cambodia's construction sector attracted investment worth USD $2.27 billion in the first five months of 2023, a year-on-year increase of 138 per cent. The retail and commercial property sectors are under some pressure, as are condos due to the impressions of oversupply. However, the key investment traits of anticipated growth due to the country's young population and increasing urbanisation, and the positive view of Cambodia as an investment destination continue to provide optimism for the long-term.

The inauguration of the Sihanoukville Tourism Port is expected to have a positive impact on the tourism industry in the coastal city. The port, officially launched on 6th July, can accommodate up to 20 small and large tourist boats simultaneously. Covering an expansive area of approximately 22,000 square meters, the port has been granted investment rights to GTVC Import Export, which also provides daily shuttle ferries from Sihanoukville to various beaches in the area. This spacious facility offers tourists a convenient gateway to popular islands Koh Rong and Koh Rong Sanloem.The increase in tourism could potentially stimulate the real estate sector as developers seize opportunities to construct hotels, resorts, and other accommodation options to cater to the growing number of visitors. Furthermore, the rise in tourist arrivals is expected to drive the growth of commercial activities, including new cafes, restaurants, souvenir shops, and other retail establishments that cater to the expanding tourist market.A significant factor contributing to the anticipated growth in tourist numbers is the completion of the expressway to Sihanoukville in October 2022. The newly constructed expressway has considerably reduced travel time by half. Previously, visitors had to endure an approximate five to six hours journey, but now, with improved connectivity, tourists can reach the city faster and more conveniently. The expressway not only enhances accessibility for domestic and international travellers but also establishes a more efficient transportation infrastructure for the region.With improved connectivity provided by the expressway last year, Sihanoukville is poised to become a prominent tourist destination and transform into a tourism hub. The city's potential for growth is substantial, presenting an opportunity for investors and entrepreneurs to capitalise on the increasing demand.If you are interested to see properties in Sihanoukville, click belowClick Here

With the trend of multiple new shopping mall projects being launched across Phnom Penh as well as some developers targeting other cities such as Sihanoukville, there are increased options for retailers and shoppers in Cambodia.There does remain the genuine concern of oversupply in the retail space with so many malls entering the market and we have previously heard insights from local experts such as The Mall Company (TMC) on the need for diversification in the shopping experiences.For franchises and retailers, tenants have increased options and choices in lease terms and even condition negotiations as malls compete to attract tenants within a competitive market.Community Malls have been a popular retail class with many developers and other smaller affordable retail podiums and arcades are also popping up in new targeted development areas. The latest TMC report indicated:32 community malls currently contribute nearly 200,000 sq.m (Net Leasable Area) of modern retail space in Phnom Penh.More than 200,000 sqm (NLA) is also in the pipeline.We look at just some of the new retail and mall spaces that are due to open in Phnom Penh and one location in Sihanoukville - the jury will be out on whether the designer and developers fully appreciate retailtainment and the shopper's experience when these are all launched. Koh Norea ParkwayKoh Norea Parkway is a development from OCIC and essentially is a developed public space with retail units available along the river banks in Koh Norea, which OCIC are developing as part of a massive USD $2.5 billion project.The Koh Norea Parkway will see Chbar Ampov get a riverside boardwalk which should benefit the community and visitors as open public spaces remain a rarity in Phnom Penh. We also saw the Ground Market open in Koh Norea earlier in 2023. The OCIC retail project will include 20 outlets (which vary between 40/120/150 sqm) along the Mekong’s river bank which stretches for 4.2 kilometres. OCIC says the retail space is inspired by nature and will blend with the backdrop of the river and artist impressions indicate there will be greenspaces, water features, as well as picturesque photo opportunities.So what's in store for the shopper and diner? Among the potential outlets will be craft beer & seafood, barbeques, a bakery, drink and cafe outlets, souvenir stores and more with details to be confirmed. The retail shops and landscaping have been completed but they plan to open Koh Norea Parkway to coincide with the official opening of the $40 million bridge.The soon-to-be-completed bridge linking Koh Pich to Koh Norea is expected to be ready by December 2023 offering easier connectivity for those living in the area and for visitors.Due: Q4 2023Area: Chbar Ampov - Koh Norea Development, Phnom PenhSokha Plaza MallAnother new commercial retail mall, Sokha Plaza Mall, is situated in Daun Penh and close to the National Museum, The Cambodian Royal Palace, schools, hotels, and within walking distance to popular tourist attractions near the Phnom Penh riverside. Sokha Plaza Mall aims to offer a community space for families and friends and be a destination for meals, shopping, and entertainment through its 44 shop units covering a total of 2,000 sqm. There will be parking for 149 cars as well as 212 motorbikes.The area is immediately surrounded by a busy residential neighbourhood and offices near the mall in the heart of central Phnom Penh and opposite the iconic Wat Ounalom.In addition, the Sokha Group plans to move their businesses which include Sokha Real Estate and Sokimex to the Sokha Plaza which will further increase trade and foot traffic to retailers.The design of the mall includes a large open space (plaza) which can be used for hosting events.Due: Q3/4 2023Area: Daun Penh (intersection of Streets 13 and 154), Phnom PenhSakura Avenue Another OCIC project is located in Chroy Changvar - the small lifestyle & community food and beverage Sakura Mall forms part of their Chroy Changvar Satellite City project in the area to the northeast of the capital of Phnom Penh.The community mall covers 7,947 sqm (gross floor area) and there are car parking spaces for 150 vehicles as well as 200 motorbikes (motos).The retail space can accommodate just over 30 outlets and includes some popular and well-known franchises such as Starbucks, Park Cafe, Amazon, and Bonchon but the Sakura Avenue is currently only 50 per cent occupied.The mall’s design is inspired by the Sakura tree and the location was “established to bring together business people who are interested in providing food services together to national and international guests”, says OCIC.Chroy Changvar has become increasingly popular among both local residents and expatriates and the area boasts a range of amenities, including schools, hospitals, shopping centres, and recreational facilities.Due: Currently OpenArea: Chroy Changvar, Phnom PenhMean Chey Avenue Community MallMean Chey Avenue Community Mall is designed as a lifestyle destination and offers retail, leisure, and entertainment. Situated along the popular and competitive Samdech Techo Hun Sen Boulevard (60m Avenue) - it's currently one of the larger community malls in the area. The mall is around 70 per cent complete, according to the developers, but has confirmed Tube Coffee and Brown Cafe as lessees with more coming to occupy the nearly 13,000 sqm of retail space and 55 retail units available. Entertainment, food and beverage, a supermarket and other service and retail stores are being targeted. There are more than 1,000 parking spaces for cars and motos available at the community mall but there are also green spaces and a children's playground to cater for customers, families and visitors.Meanchey is seeing massive changes and is one of the fastest growing areas in the Cambodian capital - over the past year it has seen the opening of AEON Mean Chey (AEON 3) and the new Chip Mong 271 Mega Mall while other malls include the 60 Avenue Shopping Mall & Water Front Community Mall (under development).AEON Meanchey and Chip Mong 271 together supplied the market with 140,000 sqm NLA in 2022 which represented 57% of the total retail NLA supply!Due: Q4 2023Area: Samdech Techo Hun Sen Boulevard (60m Avenue)SIhanoukville - DRF-Mart New MallAlthough currently with no official name, a new mall was approved and announced by the Council for the Development of Cambodia (CDC) in June 2023 for DRF-Mart Fa Dao Jia Trading Co., Ltd. to develop a USD $14 million mall in Village 4, Sangkat 4, Sihanoukville. The project would create 227 job opportunities but little has been announced aside from the inclusion of DRF-MART supermarket and that the developers want the space to “provide world-class shopping experiences and meet the evolving needs of consumers in Sihanoukville and beyond.”We will have to watch this space for more information but currently there are surprisingly few shopping malls in the Cambodian coastal city which has undergone massive changes over the past decade.Due: TBCArea: SihanoukvilleThe previous TMC Retail Insights report suggested 9 modern retail centres are expected to be completed by 2024, with a further 72 Retail Centres by 2026, even with tourism numbers expected to rebound to pre-COVID levels by then (nearly doubling the current 4 million), it still represents a massive supply of retail space entering the Cambodian market. Now we will have to see if the uptake and demand is there from the consumer and retailers.