The Real Estate and Mortgage Regulator (NRPC) in Phnom Penh has recently made an announcement regarding several housing development projects. The NRPC has identified four Boreys operating without the necessary licenses, putting potential buyers and renters at risk. This article highlights the importance of verifying key aspects before engaging with developers and offers recommendations for protecting one's interests.The following Boreys have been identified by the NRPC as operating without licenses:Borey TV Star in Sangkat Prey Sor, Khan Dangkor, Phnom PenhBorey Try Kim Kour Srov in Sangkat Prek Kampus, Khan Dangkor, Phnom PenhConstruction of LV apartment in Sangkat Choam Chao, Khan Por Sen Chey, Phnom PenhBorey THE ROYAL GARDEN in Sangkat Kraing Thnong, Khan Sen Sok, Phnom PenhIn response to these unlicensed housing projects, the Real Estate and Mortgage Regulator has issued a warning to the public. Potential buyers, sellers, and renters are urged to exercise caution and be vigilant when dealing with these developments. Failure to obtain the necessary licenses raises concerns about the legality, quality, and overall security of the properties involved.To protect oneself from potential disputes and fraudulent activities, it is essential to conduct thorough investigations and verification before engaging with any developers. The following checklist outlines key aspects that should be confirmed prior to buying a property: Verify Ownership (a.k.a Title)Ensure that the property of interest is legally owned by the seller or developer. Request the official document, known as the title or deed, which confirms ownership, location, and rights associated with the property. To understand more about the property title read our extensive guide hereDevelopment Company RegistrationVerify that the development company has registered with the relevant ministries and obtained the necessary approvals before commencing construction. Request to see their company registration documents as proof of their legality.Master PlanA well-thought-out master plan is crucial for any new development project. Developers should present a detailed plan to the ministry, demonstrating the project's potential for success in the future.Construction LicenseCheck if the company responsible for construction has undergone a thorough background check by the Ministry of Land Management. Only registered construction companies are permitted to build units and infrastructure, and they should possess a valid construction license.Sales LicenseApart from the construction license, a sales license is equally crucial for property purchases. This license grants developers the legal authority to sell properties to prospective buyers. Ensure that the developers have obtained the necessary approvals to market and sell the property.Review AgreementsThoroughly review all contracts and agreements related to the property transaction, including the sales and purchase agreement (SPA), lease agreement, and any other legal documents. Understand all terms and conditions, payment schedules, transfer of ownership details, and any relevant clauses. If you are looking for reliable real estate agents in Cambodia, reach out through our concierge service for free Click Here

Kep Province, once known as a tranquil coastal retreat, is now experiencing a transformation with four major development projects that are reshaping its landscape and attracting visitors from far and wide. These projects promise to revitalise the province and establish it as another touristic destination in Cambodia. Rabbit Island New Port One of the significant projects that are set to change the face of Kep is the Rabbit Island New Port. Completed on 19th January 2022, this tourist pier replaces the old one at $1.2 million. Stretching 306 metres long and 68 metres wide, the new pier extends from the coast into the sea with a water depth ranging from 3 to 4.70 metres. It can accommodate boats carrying 200 to 300 tourists, opening up opportunities for more visitors from neighbouring countries to explore Kep Province. This development is expected to generate economic benefits and contribute to the growth of the local economy.New Landfill SiteIn a bid to address waste management and promote environmental sustainability, a new landfill site has been established in Kep. Officially inaugurated on the 30th of May 2023, this landfill project was made possible through the Asian Development Bank's Greater Mekong Subregion Tourism Infrastructure Development Project Phase II, with an approved budget of approximately $30 million. Spanning an area of 14 hectares, the landfill caters to the waste disposal needs of Kep City's residents as well as tourism-related establishments, including restaurants, hotels, guesthouses, and markets. This initiative will improve the overall cleanliness and hygiene of the area. New Beach Development ProjectTo provide an enhanced beach experience for visitors, a new beach development project has been undertaken. The original beach, which was only 350 metres long and often overcrowded, is being expanded into a 2700-metre public beach. Stretching from the Crab Market to the mangrove area, this beach project is part of the government's vision to transform Kep Province into a premier tourist resort. By focusing on the development of the city, beaches, islands, markets, ports, tourist areas, residential areas, and tourism-related services, Kep aims to attract travellers from all corners of the globe. The extended beachfront will offer ample space for relaxation, recreation, and enjoyment, elevating Kep's reputation as a sought-after coastal destination. To explore Kep and its surroundings further, click here to access our location profile of Kep.Kep Coastal Road In addition to these developments, the construction of the Kep coastal road is set to bring about a transformative change. This project, spanning a length of 12.75 kilometres, will connect the Rabbit Island Port to Angkol Beach. With a construction period of 22 months, the coastal road has received support in the form of a $10.5 million loan from the Asian Development Bank. In addition to the road infrastructure, the project includes the construction of sidewalks, bicycle lanes, and the planting of palm trees, creating an inviting and scenic route for travellers. Once completed, this coastal road will facilitate convenient access for both domestic and international tourists to various attractions within Kep Province. Moreover, it will play a crucial role in bolstering the province's tourism industry, enabling further growth. If you are looking to rent, buy or sell properties in Kep and its surroundings, reach out to us!Click Here

The Realestate.com.kh Home & Lifestyle EXPO 2023 returns to the capital from 12-13 of August 2023 at the Koh Pich Exhibition Centre. The two-day property, home & lifestyle show follows on from a hugely successful event in 2022 in which USD $30 million worth of property was sold!The EXPO has a reputation for attracting Cambodia’s leading experts and brands and will showcase the finest properties, developers, banks, and insurance providers in Cambodia. This year, more amazing exclusive deals and promotions will be on offer from the Kingdom’s leading borey and condo developers, while other essential and sought-after services will be exhibited with show-exclusives for your home needs!In terms of attendees, the Home & Lifestyle EXPO 2023 is a popular calendar event and draws middle-class and affluent Cambodians, expatriates and foreign property investors, as well as guest VIP surprises who are on the hunt for the best boreys, condos, villas, and land in Cambodia.“Last year was our first event post-COVID and attracted over 12,000 people and 100+ exhibitors. This year we have had to change venues to Koh Pich to accommodate more attendees and exhibitors,” said Tom O’Sullivan, CEO of Realestate.com.khWhat You Need To Know For The 2023 EXPORealestate.com.kh’s Home & Lifestyle EXPO 2023 is an all-encompassing event that deals with all things property as a focus but also has terrific coverage of lifestyle and home products, services and more.This year, renowned property developers who will be exhibiting include: Borey Peng Hout, Prince Real Estate Group, Morgan Group, Orkide Development, Le Conde, J-Tower 3, Dragon Land, Borey Bosba, Leedon Heights, KH Land, and many more. The Cambodian property market buying sentiment in early 2023 was still strong among investors and home buyers. In the 2023 Realestate.com.kh Cambodia Real Estate Survey:A third of respondents were looking to buy property in the next 18 months.Nearly 15% indicated they were looking to buy more immediately (within 6 months).Over 60 per cent felt property prices in Cambodia will increase over the next year, and a similar number felt property prices are currently affordable in the market.Homeseekers and investors will be able to purchase sought-after properties at the best deals ever available from the developers and agents.“Not only will the event include all the leading property developers, but also 100’s of the best resale properties under market value and other industry-related products and services” added Steff Khiem, Marketing Manager of Realestate.com.khLeading Home and Lifestyle BrandsCambodia’s leading banks and insurance companies will be exhibiting - so keep an eye out for special loan offers and essential coverage for your home and other property needs. There also promises to be massive deals on other lifestyle products, cars and much much more in 2023.The Cambodian property buying market is perceived as being better informed and knowledgeable in financial literacy and a majority appreciate they will require a mortgage in order to purchase property in Cambodia.The insurance industry has seen robust growth in the Kingdom, and the sector is increasing its digitised services while customers are looking at competitive packages and a broader range of products. “We will also have food & beverage on hand as well as a kid's play area for those coming with their families,” said Khiem.Where is the Realestate.com.kh Home & Lifestyle EXPO 2023 Taking Place?This massive venue on Koh Pich in Phnom Penh is well-known and offers ample wide open spaces, access roads and parking and easy access for ride-hailing services. There are also several popular venues nearby such as parks, swimming pools, and restaurants and the Koh Pich Exhibition Centre is ideally situated close to the AEON Mall Phnom Penh, a popular shopping mall in the city.The two days are perfectly suitable for the family too as there will be engaging activities, delicious food and beverages, and the chances to win surprise prizes.How To Attend the Cambodia Home & Lifestyle EXPO 2023For those interested in attending the biggest property, home and lifestyle show in Cambodia, pre-registration is open and you can sign-up now to gain express entry.You will also be the first to know about exclusive deals and promotions at the event and be updated on who will join the Real Estate Home & Lifestyle EXPO 2023.Limited Booths AvailableThere are a limited number of exhibition booths left. If you are looking to supercharge your sales and sell directly to local first-time buyers, property seekers and investors, you can register to sponsor or exhibit at the show before the last few spots sell out! “At the EXPO 2022 we sold more than 10 units at the event and many more as we followed up our leads post-event. We have been looking forward to the 2023 EXPO to help generate more sales and continue to get our brand out there in the market,” said Sothavatey (Vatey) Mom -  FazWaz Country Manager.

AirAsia has announced its plans to resume flights between Sihanoukville and Bangkok as well as Kuala Lumpur, starting from 1st August. The airline will operate three weekly return flights connecting Sihanoukville to Kuala Lumpur, followed by the resumption of two weekly return flights between Sihanoukville and Bangkok from 3rd August. This development comes as welcome news for both tourists and local investors, as it is expected to have a positive impact on tourism and motivate further development in the region.At present, Sihanoukville International Airport only operates two international flights, and the lack of regular air connectivity has hindered the growth potential of the coastal area and nearby islands, especially after COVID-19. However, with the resumption of AirAsia flights, the region is poised to witness a significant boost in tourism, attracting more visitors from both Bangkok and Kuala Lumpur. This increased accessibility will not only benefit tourists but also drive the local economy and encourage developers to invest in the untapped potential of the coastal region.The new flight schedule will cater to the travel needs of both business and leisure travellers. AirAsia will operate return flights between Sihanoukville and Kuala Lumpur every Wednesday, Friday, and Sunday, providing convenient options for travellers looking to explore the coastal destination or connect to other destinations via Kuala Lumpur. Return flights between Sihanoukville and Bangkok will operate every Tuesday and Saturday, offering seamless connectivity between the two cities.

When it comes to urban living, the terms "condo" and "apartment" are often used interchangeably. However, in the context of Cambodia, these two housing options have distinct differences. In this article, we will explore the variations between both shedding light on their unique features and helping you make an informed decision. Ownership StructureOne of the fundamental distinctions between condos and apartments lies in their ownership structure. In Cambodia, apartments are typically owned by a single entity, such as a corporation or an individual landlord. Renters occupy the units and pay monthly rent to the owner. This arrangement grants tenants flexibility, as they can easily terminate the lease agreement and move out with minimal hassle.On the other hand, condos in Cambodia follow a strata-titled ownership structure. This means that each individual unit within a condo building is privately owned. Condo owners have full control over their units and share ownership of the common areas, such as hallways, gyms, and swimming pools, with other condo owners in the same building. The management and maintenance of these shared spaces are typically governed by a condominium association or management committee, consisting of elected condo owners. Amenities and FacilitiesAnother aspect that sets condos apart from apartments in Cambodia is the availability of amenities and facilities. Condos often offer a wide range of luxurious features to attract buyers or tenants. These can include swimming pools, fitness centres, rooftop gardens, concierge services, parking facilities, and 24/7 security. The presence of such amenities contributes to a more upscale and exclusive living experience.While some apartments in Cambodia may also provide basic facilities like elevators or parking spaces, they generally lack the extensive range of amenities commonly found in condos.Apartments offer affordable housing options without added luxury or exclusivity. Price and AffordabilityConsidering the ownership structure, amenities, and overall ambience, it is no surprise that condos in Cambodia tend to be pricier than apartments. The added benefits and convenience associated with condo living contribute to their higher market value. Condos often target affluent individuals or those seeking a more lavish lifestyle. The prices of condos in popular neighbourhoods in Cambodia are generally found in the capital Phnom Penh. The prime locations are known as BKK, Koh Pich and Chamkarmon.On the other hand, apartments in Cambodia are generally more affordable. They cater to a wider range of budgets and are suitable for individuals or families looking for budget-friendly accommodation options. Apartments are often favoured by young professionals, expatriates, or students seeking a convenient living arrangement without breaking the bank. Legal ConsiderationsWhen it comes to legal considerations, the Cambodian government has specific regulations governing the sale and ownership of condos. In 2010, Cambodia introduced the Strata Title Law, which enabled foreigners to own condos above the ground floor. This policy aimed to attract foreign investment and stimulate economic growth. However, it is essential to familiarise yourself with the latest regulations and seek legal advice when purchasing a condo as a foreigner in Cambodia.In contrast, there are no specific legal restrictions on foreigners renting apartments in Cambodia. Renting an apartment is a relatively straightforward process, and expatriates or foreign workers can easily find suitable options depending on their budget.  While the terms "condo" and "apartment" are often used interchangeably, the few main points to summarise the distinctive features between both are:Condos offer a strata-titled ownership structure, a variety of amenities, and a higher price range.Apartments are usually found in buildings built before 2010 and are not eligible for strata titles. It is an affordable housing option with basic amenities such as parking spaces, or elevators if provided.Whether you are looking for an apartment or condo in Phnom Penh, we have more than 40,000 listings on our website! Click Here

The recent groundbreaking ceremony on 11th June 2023 marked the beginning of construction for ODOM, a mixed-use development in central Phnom Penh. Developed by Urban Living Solutions (ULS), Cambodia's leading community-focused real estate developer, ODOM aims to combine residential and commercial spaces in the heart of the capital city.  Strategic Location and AccessStrategically situated along Phnom Penh's main north-south Norodom Boulevard and adjacent to the capital's business district, ODOM provides unparalleled convenience. ODOM’s prime spot along Norodom is the most prestigious address in all of Phnom Penh. Surrounded by BKK1- Phnom Penh’s CBD, Koh Pich, and the riverside area, the development offers easy access to corporate businesses, government offices, embassies, NGOs, schools, and a vibrant dining and lifestyle scene. Its location ensures a dynamic and fulfilling urban lifestyle for residents and businesses alike.ODOM Tower: A Haven for Businesses(Photo Credit: Urban Living Solutions)The centrepiece of ODOM is the impressive 45-story ODOM Tower, which encompasses 40,000 square meters of Grade-A, strata-title office space. Designed to cater to the needs of investors seeking office spaces for rental or business owners desiring full control over their workspace customisation, the ODOM Towe is a prime choice. It offers modern amenities, state-of-the-art facilities, and a prestigious address for businesses.Residential Building: Luxury Living at its Finest(Photo Credit: Urban Living Solutions)Adjacent to the Odom Tower is ODOM Living, a 22-story residential building that houses spacious 1, 2, 3, and 4-bedroom residences. Each unit offers city views and floods of natural daylight through floor-to-ceiling windows. Residents will enjoy a host of amenities, including 24-hour security, access to a rooftop terrace, gym, pool, green spaces, and a sky bridge directly connected to the ODOM Tower.ULS's Reliability and Community Focus(Photo Credit: Urban Living Solutions)As a testament to ULS's commitment to community development, it is worth mentioning their past projects. One notable example is the successful completion of the Rose Apple Square, Urban Village (Phase 1) and Factory Phnom Penh.  ULS's dedication to creating spaces that foster a sense of community and well-being assures prospective residents and investors that ODOM will be a reliable development.

Realestate.com.kh has released the updated and free Why Cambodia Guide 2023 which aims to unlock the potential of Cambodian investment and real estate. The comprehensive guide enables investors to be informed and make informed decisions in a thriving investable market. The Why Cambodia Guide looks at the measures the government has implemented to attract foreign capital, such as streamlining bureaucratic processes and offering incentives for foreign investors, and discusses why Cambodia is seen as a Tiger Economy with the benefits of its strategic location within ASEAN increasing its appeal as a potential investment, logistics and tourism hub.Realestate.com.kh, the leading online property and real estate platform in the Kingdom offers a range of easy-to-use tools for property searchers and investors on their website and on their app. For this guide, they say “Whether you're a seasoned investor or simply curious about the market trends, this guide is a must-have resource.”Is Cambodia A Tiger Economy?Cambodia is a key part of the Chinese Belt and Road Initiative (BRI) which has seen massive investments pour into the country supporting wide-scale infrastructure projects (the Phnom Penh- Sihanoukville Expressway), construction projects including new airports, canals and shipping ports, and even a new stadium (Morodok Techo Stadium) in Phnom Penh which was used for the 32nd SEA Games and 12th ASEAN Para Games - the first major international multi-sporting event to be hosted by Cambodia.In 2023, the Ministry of Public Works and Transport also authorised the Chinese state-owned company, China Road and Bridge Corp (CRBC), to conduct a study on the proposed Phnom Penh-Siem Reap Expressway, while a new Phnom Penh-Bavet has also been approved.Interconnectivity by road, sea and air is a big part of the Kingdom’s roadmap to be a logistics hub and the Comprehensive Intermodal Transport Master Plan 2022 – 2030 (CIT-MP) has identified the need for nearly $50 billion investment for dozens of projects.Other key factors to consider when investing in Cambodia:The GDP growth rate is among the highest in ASEAN post-pandemic - with ADB, World Bank and other financial institutions targeting 6% in 2023 and even stronger thereafter.Companies can be 100% foreign-owned in Cambodia.Investment and Trust Laws are investor-friendly.*Cambodia has one of the fastest urbanisation rates within ASEAN.*The advent of the Cambodia Trust Law, released in 2019, has also given financial and other large international institutions more confidence to develop large asset holdings in Cambodia in more secure legal trust holds. With an emerging middle class in Cambodia, which continues to see significant growth, the latest projection is for the country to no longer be categorised as a least developed country (LDC) and move into the high-middle-income country bracket by 2027.Sector Growth in CambodiaThe Kingdom has been investing in transforming into a key business and logistics hub for the region, through a series of public-private partnerships as well as government-led roadmaps and strategies. The four economic pillars as they are known, have not changed but increased digitalisation and technology will only enhance these industries but also see other sectors experience growth.Cambodia’s Key Economic Industrial Pillars:Construction & Real EstateManufacturing: predominantlyGarment and TextilesTourismAgricultureFurthermore, the residual impacts of COVID-19 are still being felt (such as in tourism and trade) but should rebound. Globally supply chains have probably changed permanently but SEA is one of the potential benefactors.Industry 4.0 and the digital economy are part of the new economic targets of the Cambodian Government and Cambodia is ripe for growth and investment in manufacturing, logistics and as a tech hub.Cambodia Is Investor-FriendlyFDI & Ease of Doing BusinessForeigners currently investing in the Cambodian property sector, for example, hail from 18 countries and the majority are Chinese. According to the National Bank of Cambodia (NBC), in 2019, 42% of FDI (foreign direct investment) came from China, followed by South Korea (11%), Vietnam (7%), Japan and Singapore (6% equally).With no foreign exchange controls, the removal from the FATF Grey List in 2023 which means Cambodia is less likely to face economic penalties or face sanctions from FATF member states and other international bodies.  Combined with the ease of obtaining visas (and extensions) and establishing a business (which is increasingly being digitised) there is a strong interest and demand to confidently invest in the Kingdom. In terms of long-term investors, there are options to purchase citizenship or the Cambodia My 2nd Home (CM2H) program which is an initiative launched in 2022 to attract foreign investment to the Kingdom and compete with similar initiatives in the region. The CM2H program is open to all countries recognised by Cambodia with a certain investment and financial requirement. Special Economic ZonesSEZs operate under the authority of the Cambodia Special Economic Zone Board and these offer businesses a number of fiscal incentives, additional tax breaks, an infrastructural backbone and integrated customs support for manufacturing investors. Digitalisation The NBC has also been pushing for de-dollarisation, while there has been drastic and increased digitisation in payment options such as KHQR, and a number of cross-border and remittance agreements are being explored with a number of nations - including Thailand, Vietnam, China, Rwanda, India, Singapore, Malaysia, Solomon Islands & Fiji.Cambodia has also applied for membership in the Cross-Border Interbank Payment System (CIPS) which is China’s payment system and acceptance should increase the trade and investment between China and Cambodia.Cambodian Construction and Property PotentialWith 25 provinces in Cambodia - the top three areas for condominium investment are in the capital of Phnom Penh, Siem Reap (famous for Angkor Wat and as a tourism destination), and the coastal Preah Sihanoukville. Historically, Chinese, Japanese, and Koreans have been the main property buyers in Cambodia but the range is diversifying with buyers from the US, Europe, Singapore, Malaysia, and other ASEAN nations. Most investment in the commercial space is Chinese and Japanese but there has been increasing interest from India, Indonesia, and the Middle East.Based on the realestate.com.kh 2023 Consumer Sentiment Survey; Land, then Condominiums and Apartments were the most popular among buyers but The Why Cambodia Guide 2023 offers an insightful market comparison on the three types.The guide also expands on the taxes on property, the mechanism for Trusts, land prices, the types of land titles, and other vital information including the detailed market analysis and latest trends as well as the investment opportunities in residential, commercial, and industrial properties.Realetatel.com.kh says the new guide that it is “Packed with valuable insights, expert advice, and in-depth market analysis, this comprehensive guide is your essential resource for navigating the vibrant Cambodian real estate market with confidence. Whether you're a buyer, seller, or investor, the "Why Cambodia Guide" has you covered!”You can download the free Why Cambodia 2023 Guide Here

Realestate.com.kh has planned an Exclusive Property Showcase at their offices in Phnom Penh. The event will feature a carefully selected collection of highly sought-after projects from the Cambodian property market at the best prices for two days only. Scheduled for June 16-17, the showcase aims to highlight the most desirable properties available.Additionally, the Exclusive Property Showcase will present a range of exceptional resale properties that offer excellent value compared to market prices. As a result of significant sales volumes in 2023, Realestate.com.kh has established strong negotiating power with developers, enabling them to provide the best deals to their customers.Tom O'Sullivan, CEO of Realestate.com.kh said: “At the first-ever Property Showcase in Cambodia in 2022, we sold over one million dollars in property in just two days! Similar to last year, we will only have a limited number of units - so interested buyers should register now” (see more details below).Realestate.com.kh Property Showcase 2022 -  A Success StoryIn November 2022, realestate.com.kh held its first Property Showcase (which was an invitation-only event) and partnered with leading Cambodian property developers. The showcase was one of the first property shows in the Cambodian capital post-pandemic. Steff Khiem, Marketing Manager of Realestate.com.kh, said last year “We are in a unique position to negotiate the best prices in the market and we are very thankful to our partners for going the extra mile offering never-before-seen prices for our buyers.”Participating developers in 2022 included Le Condé BKK1, Morgan Group, Urban Living Solutions, Vue Aston and Time Square. Partner developer Le Condé BKK1 sold almost $500,000 worth of property at the showcase.What To Expect in 2023Realestate.com.kh promises to have the “hottest projects & under market value resale properties” but also available at massive discounts, some up to 40%!Anyone interested in buying property in the local market and if you are looking for an unmissable deal, this applies to Cambodian nationals and foreign buyers, is encouraged to register and attend and not miss out on this exciting opportunity!There will also be transport available for buyers to physically visit the properties during the two days. What Properties Are Available - 2023 Property ShowcaseThe upcoming Property Showcase features a diverse range of developments, including Le Condé BKK1, Time Square 306, J Tower 3, Residence H, Rose Apple Square (Siem Reap) and more. This event will bring together exclusive participation from renowned developers. These properties offer promising opportunities with units of high capital growth and rental yields. Additionally, the showcase will unveil under-market value properties, providing attendees with a chance to discover hidden gems in the Cambodian real estate market. This June 2023 Showcase promises a multitude of options, from modern condos in Phnom Penh to charming properties in Siem Reap, ensuring there's something to suit every taste and preference for investors and homeowners alike.How to Attend The Realestate.com.kh 2023 Property ShowcaseYou can register and attend physically or participate online via the Online Property Showcase website - but you need to register first.The participating projects and resale properties will be announced in due course, so stay tuned to realestate.com.kh socials for more information.Dates: Friday 16th June from 10AM till 7PM & Saturday 17th June 10AM till 5PMVenue: Realestate.com.kh Office, Level 1, Corner Street 302 & 63, BKK1 (Phnom Penh)Cambodia’s largest online classifieds portal has run a number of successful property shows, including its flagship Expo which will take place later this year.

When it comes to buying a property in Cambodia, there are many options to consider, from apartments and shophouses to condos and boreys.Each has its own unique value, so it's important to weigh your options carefully before making a decision.In this article, we will explore the pros and cons of condo vs borey. What is a condo, and what is a borey?Condos and Boreys are popular choices in Cambodia, but what exactly are they?A condo is a type of property where you own the unit itself, but not the land it sits on.Borey, on the other hand, is a gated community consisting of multiple houses that are typically built on their own plots of land.So, which one is better for you? Let's take a closer look at some of the pros and cons of each. CondoPros:Amenities: One of the biggest advantages of a condo is that they often come with a range of amenities such as a gym, swimming pool, and communal areas. This means you have access to all of these facilities without having to maintain them yourself.Security:  A condo often has security measures in place such as gated entrances and 24-hour security personnel.Low Maintenance: With a condo, you don't have to worry about maintaining the exterior of the building, the common areas, or the landscaping. This is taken care of by the property management team.Condominium buildings are often built in areas close to groceries, parks, restaurants, and other amenities.Cons:Association Fees: While the amenities and maintenance may be convenient, you'll have to pay monthly association fees to cover the cost of these services.Limited Privacy: Living in a condo means that you're near your neighbours, so you may have to sacrifice some privacy.Restrictions: Condo owners often have to abide by certain rules and regulations set by the management team or homeowners' association.BoreyPros:More Privacy: With a borey, you have your own house and plot of land, which provides more privacy than a condo.Customisation: You have more freedom to customise your home in a borey, from the layout to the decor.Potential for Appreciation: As the land that a borey sits on appreciates, the value of your home may also increase.It typically has its own infrastructure and services including roads, water, electricity, and waste management.Cons:Maintenance: Unlike a condo, you're responsible for maintaining the exterior of your home and the surrounding landscaping.Limited Amenities: Borey typically does not come with the same range of amenities as a condo, so you may have to source these yourself.Borey in Cambodia is usually located in off-central locations.So, which option is better for you? Ask yourself the following questions:What is your lifestyle like?What is your budget?What are your long-term goals? Are you looking for convenience, low maintenance, and a range of amenities? If so, a condo may be the better choice for you.Do you value privacy, customisation, and the potential for appreciation? If yes, then a borey may be the way to go.In general, a borey is ideal for families, on the other hand, a condo may suit individuals or couples.You may visit realestate.com.kh, which collaborates with all the licensed developers operating in the market to find your desired condominiums and boreys in Cambodia. Click HereArticle by:

One location that deserves special consideration is Koh Pich, also known as Diamond Island, located in Phnom Penh, Cambodia. Koh Pich has emerged as a family-friendly environment with an abundance of amenities and a wide range of recreational activities. In this article, we will explore why Koh Pich might be the ideal place for family living.Family-Friendly Infrastructure:Koh Pich's urban planning focuses on creating a family-friendly environment. The island features wide sidewalks, well-maintained parks, and green spaces where families can relax and enjoy outdoor activities. Bike lanes and pedestrian-friendly paths encourage healthy living and allow for safe exploration. The presence of playgrounds and recreational facilities further adds to the island's appeal as an ideal place for families.Here are a few of our top favourites for family-friendly places: Coconut Park(Pictures supplied from Coconut Park Facebook Page)Opening hours: 9 am to 7 pm, Monday to SundayEntrance is freeA serene and beautiful park located on Koh PichOffers well-maintained pathways for leisurely strollsIdeal for picnics and family activities on the lush green lawnsRoller Skating Pet-FriendlyProvides playgrounds for children, restaurants, and weekly events such as Night MarketDIB CLUB(Pictures supplied from DIB Club Facebook Page)Opening hours: 9 am to 9 pm, Monday to SundayAccess is free all day with a minimum spend of 5 USD on ordersFeatures swimming pools for both adults and childrenOffers dining options, including a restaurant, bar, and lounging areasTreellion Park(Pictures supplied from Treelion's Facebook Page)Opening hours: 8 am to 10 pm, Monday to SundayEntrance is freeIncludes scenic walking trails and seating areas for a relaxed experienceCaters to visitors of all ages with various activities and attractions such as mini golf Education is a top priority for families, and Koh Pich provides access to high-quality educational institutions. The island is home to international schools that offer world-class education, following globally recognised curricula. Canadia International School and École Française International (EFI) are prestigious international schools located in Koh Pich, providing students from preschool to high school with modern facilities.Looking ahead, Koh Pich holds even greater potential for families. As the community continues to grow and develop, more facilities, services, and opportunities will become available, further enhancing the family-friendly atmosphere of the island.Are you interested in properties located in Koh Pich? Our team is ready to help you find your dream property. Reach out to us using our concierge service belowClick Here

The Realestate.com.kh Home & Lifestyle EXPO 2023 is coming this 12th and 13th of August 2023 (Saturday and Sunday), and it’s bringing exclusive deals and promotions from Cambodia’s leading borey and condo developers, banks, insurance, and many services for your home needs!A WORLD-CLASS VENUEThe Realestate.com.kh  Home & Lifestyle EXPO will be held at the Koh Pich Exhibition Center. This grand venue is well-known among Cambodians, expatriates, and foreign investors for its wide spaces, and access roads, and is directly adjacent to AEON Mall Phnom Penh, the popular shopping mall in Cambodia today.WHO WILL BE AT THIS YEAR’S EXPO?Anything and everything related to Cambodian property will be at Realestate.com.kh’s Home & Lifestyle EXPO 2023, including the most renowned property developers such as Prince Real Estate Group, Morgan Group, Orkide Development, Dragon Land, Borey Bosba, Leedon Heights, KH Land, and many more. But buying a property is usually more than just the property itself. And this is where the advantage of buying at the EXPO truly shines.Not only will buyers be able to secure some of the best deals ever from boreys, developers, and agents at the event, but the leading banks and insurance companies will also be exhibiting and running special loan offers and coverages for your home and other property needs. Buying and securing your property needs not to be a hassle when you can do it all at Realestate.com.kh’s Home & Lifestyle EXPO 2023! It promises to be a fantastic day out for the whole family, featuring an array of engaging activities complemented by a delightful selection of food and beverages by the provided sponsors.A LOOK BACK ON THE 2022 EXPO More than 12,000 attendees, over 100 of Cambodia’s biggest brands, developers, agencies, banks, and insurance companies recently gathered for the country’s biggest property show of the year. The Real Estate EXPO 2022 held at the Premier Centre Sen Sok was a success with over $30 Million dollars worth of property sold over the weekend. The EXPO has solidified itself as part of the industry’s calendar of events as middle-class and affluent Cambodians, as well as expatriates and foreign property investors, attend the EXPO successfully securing the best deals and opportunities in real estate.  Pre-registration is LIVE! Sign-up now to get express entry at the event and updates on who will be joining the Real Estate Home & Lifestyle EXPO 2023  this coming August 12th and 13th Register now!REGISTER NOW

The Cambodian government-approved Funan Techo Canal, which will be the first capital-coastal waterway in the Kingdom of Cambodia, is the latest large-scale infrastructure project set to transform the Southeast Asian nation into a new logistics and economic hub in the region.The estimated cost for the development project is expected to be USD $1.7 billion and it will take approximately four years to complete.The announcement follows the news of a targeted extended list of investment projects which are set to redefine the infrastructure in Cambodia which is trying to better provide much improved and modern transport routes including major expressways, international airports, seaports and waterways - driving diversification and economic development as well as promoting the country as a potential destination for logistics and shipping. With the combination of infrastructure and logistics projects, and significant investment in the sector (and Foreign Direct Investment), Cambodia is positioning itself to challenge and become a major player in regional trade and commerce. What is the Cambodian Funan Techo Canal?The Funan Techo Canal project will establish a direct link between the capital of Phnom Penh and the coastal provinces and create an alternative route set to unlock untapped supplementary logistics opportunities for Cambodia.The man-made canal will be 180 kilometres long and will connect Prek Takeo to Prek Ta Ek and Prek Ta Hing of the Bassac River System and onto Kep province. Once completed, the canal will pass through Kandal, Takeo, and Kampot and see the installation of three watergates or locks (on the current plans these will be added outside of Phnom Penh, in Takeo, and at Kep), as well as 11 bridges and the addition of 208 kilometres of roads on either side of the waterway. The canal will be 100 metres wide upstream and 80m downstream and have a  depth of 5.4 metres. There will be two shipping lanes, to enable vessels to safely travel in opposite directions simultaneously. In the area impacted, there is an estimated total population of 1.6 million living on both sides of the waterway. John Yip Weiyan (Head of Investment of Real Estate at Belt Road Capital Management) said of the project: “The Funan Techo Canal infrastructure project will be a game-changer for Cambodia logistics as it will impact the distribution of containers throughput between Sihanoukville’s deep sea port and Phnom Penh Autonomous Port (via Vietnam). More freight will end up being routed through local Cambodian port(s) as use of the waterway commences.The usage of the waterway could also stimulate the development of additional international ports, such as the proposed Kampot International Multi-Purpose Logistics and Port Centre. With an alternative route available for freight transportation to and from the capital, logistics facilities could be relocated or constructed to support and complement this alternative transportation corridor.”The initial planning document we have seen supports this as currently 67% of goods reach the port in Sihanoukville but after the completion of the canal, this is hoped to reach 90%.Cambodian Investment and Economic GrowthThe World Bank increased its financial outlook for the Kingdom of Cambodia in May 2023 and under its Cambodia Economic Update, raised its growth forecast to 5.5 per cent this year, which is an increase from its previous projection of 5.2 per cent. Most global financial institutions as well as the National Bank Cambodia have predicted GDP growth of between 4-6% for 2023 which is high compared to the global averages. The World Bank also advised Cambodia to bolster economic growth “through investing in connectivity infrastructure and human development, safeguarding financial stability, and promoting diversification of exports to enhance the economy’s resilience and competitiveness.” The projects such as the Funan Techo Canal appear to be addressing exactly that.Previous reports from the World Bank suggested that the logistics costs in Cambodia are estimated at 26 per cent of the GDP in 2020 and that costs in the Kingdom were much higher than those of neighbouring countries.The Cambodian government realises investment is key as are private-public partnerships which have seen the completion and ongoing development of major projects to improve connectivity nationwide. Located strategically at the centre of China, India, and Indonesia, and in a region seeing comparative growth - there is massive potential as a key logistics hub. Minister of Public Works & Transport, H.E. Sun Chanthol discussed the Comprehensive Intermodal Transport Master Plan 2022 – 2030 (CIT-MP). The CIT-MP is a comprehensive plan covering infrastructure such as roads, railways, waterways, airways, logistics and ports and has already identified more than 150 projects which will require as much as US$30 billion of investment. Chanthol previously said that the intention is “ to strengthen and expand road infrastructure and connect major thoroughfares – especially international border checkpoints – in order to increase Cambodia’s competitiveness, attract foreign investment, and reduce logistics and transport costs and avoid delays.”Cambodia Port, Logistics & Maritime ProjectsPort container traffic has indicated a shift in the dynamics of Cambodia's logistics landscape, with Sihanoukville (PAS) emerging as a prominent port and even surpassing the Phnom Penh autonomous port (PPAP).The PAS is undergoing investment to modernise, deepen, and enlarge its capabilities to host larger ships more often. Only 20 km northeast of the international deep-water Sihanoukville Autonomous Port, is the SSEZ which Sihanoukville Deputy Governor Long Dimanche said is the biggest industrial zone in size and occupancy in Southeast Asia.Both are key in China's Belt and Road Initiative (BRI) which consists of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, which intends to link trade and infrastructure networks in Asia with Europe and Africa.In May 2023 it was announced that the Japanese-financed Sihanoukville container terminal had started, aimed at transforming the seaport into a Southeast Asian hub by 2029. The upgrades will include the modernisation and automation of the port’s equipment. The PAS capacity will increase from 700,000 TEUs (twenty-foot equivalent unit) a year to 1.4 million by 2026, and 2.6 million by 2029, while the port’s shallow channel which is 9.2m deep will be dredged to a new depth of 14.5m in the project’s first phase and allow more and bigger container ships to dock at the Cambodian port. Currently, 82% of container ships are unable to access the port.Koh Kong province’s first international seaport is due to be launched in the second half of 2023, said provincial governor Mithona Phoutong.Kampot International Port & Logistics Centre is a USD $1.5bn project in Kampot province, which started foundational work in 2022. The multipurpose port will have a depth of 15m and will be developed over 15 years and across three phases.The Kampot International Tourism Port was also completed in mid-2022 and needs additional dredging.A new Sihanoukville Logistics Hub was established via a public-private partnership.In addition, there are a number of airports still being developed with the new Siem Reap International Airport due to be operational before the end of 2023 with other large transport & logistics projects continuing development.The Knight Frank “State of Logistics Asia-Pacific Focus Report 2023” indicated that with global supply chains adjusting, Southeast Asia is seen as a top destination for foreign direct investment among emerging regions.The creation of new and more affordable trade routes, facilitating the seamless movement of goods in a foreign trade and in an investment-friendly nation should have investors and businesses take notice and look for opportunities within Cambodia's burgeoning logistics and infrastructure sector.

Mean Chey Residences by RoseMarvel is a new modern contemporary luxury residential project situated in Phnom Penh’s highest potential area. This project is now officially open for sale to potential homebuyers who are seeking a unique perspective on luxury living in the Southern part of Phnom Penh City.The design of Mean Chey Residences focuses on a human-centered first design, where all of our types of home are carefully thought-out to fit the needs of our customers. Our types of home offer spacious living areas and an abundance of indoor and outdoor facilities that offer our customers a sense of luxury and comfort of living. Natural lighting and sufficient air flow are present throughout all of our house types. The Mean Chey Residences also has a over 0.6-hectare garden located in the center of the project, which is the largest garden of any residential or commercial project along 60M Road.Mean Chey Residences is an 20-hectare residential development situated along Samdach Techo Hun Sen Boulevard, commonly referred to as 60M road. The project is developed right next to the newly opened AEON Mean Chey Mall (AEON 3), which is less than one minute's walk apart.The project offers 4 types of Villa options and 2 types of Shophouse options. The Villa options available in Mean Chey Residences are King Villa, Queen Villa, Prince Villa, and Princess Villa while the Shophouse options are Standard Shophouse and Special Shophouse. Mean Chey Residences’ Shophouses are all facing toward AEON 3 Mall, perfect for commercial usage as well as convenience of living.For more information, please contact the number below078 / 086 / 090 72 77 88

For many years the Cambodian economy has been seen as a rising star in Southeast Asia and post-pandemic there remains buoyant optimism in the potential of the country as an investment destination. With a huge delegation of international athletes in-country over the coming weeks for the SEA Games, and hopefully as many as half a million visitors who will travel to enjoy the sporting activities, it is timely to remind potential investors of the opportunities in Cambodia as the nation is probably misunderstood overseas.The core key points often used to promote the Kingdom as an investment destination remains true:Consistent growth rates and tracking strongly post-pandemic in the region.Companies can be 100% foreign-owned in Cambodia and foreigners can 100% own certain properties.Fast rate of urbanisation.Favourable Investment Laws and new Trust Laws.Cambodia consistently ranks as an expat-friendly nation.Political stability.Ease of visas.Changing The Perceptions of CambodiaThe economic maturity in Cambodia still relies heavily on the development of the financial markets and foreign direct investment. What has been noticeable since the travel restrictions eased is that an overwhelming number of visitors and investors to the country have shared an almost consistent surprise in the level of economic development that Cambodia has experienced.The impact of COVID-19 has been undeniable to the Kingdom’s economy, but it remains a frontier market with a very positive macroeconomic outlook, a much improved and accountable banking and finance sector, diverse foreign direct investments, and there is a healthy return in the tourism & hospitality sector, while the real estate market correction have more realistically positioned the pricing of property.Tom O’Sullivan, CEO of Realestate.com.kh said in a recent interview that Cambodia's consistent economic growth has solidified its position as a desirable destination for foreign realty investment.He acknowledged that tourism remains a pillar of the economy and it helps drive real estate and real estate development but more needs to be done to encourage tourism to the country. “Once you get a delegation to the country, the reaction is remarkable once they see how developed Cambodia actually is. The return of tourism has already impacted positively on the real estate market and changing perceptions of the country internationally is key to this.”Potential Of Real Estate In CambodiaCambodia is more than just Phnom Penh or Angkor Wat, the key investment locations are Phnom Penh, Sihanoukville and Siem Reap. The range of investors come from many different nations too.Most retail international property investors in Cambodia are focussed in Phnom Penh, and condos are the main target due to the ease of owning them as a foreigner but the Trust Laws have resulted in more looking at land and other types of properties and in May 2023, Sok Dara, Director General of the Trust Regulator said funds invested in the trusts will soon reach the $1 billion.Historically, Chinese, Japanese, and Koreans have been the main buyers but there are also many from the US, Europe, Singapore, Malaysia and other ASEAN nations. In the commercial space, most investment is still from the Chinese and Japanese but there is increasing interest from India, Indonesia, and the Middle East - new embassies opening up are a good sign and indicator of potentially opening up investment avenues.Some general positives for the Cambodian real estate sector:Potential for growth due to the country's young population and increasing urbanisation.Real estate development influenced infrastructure and tourism.Increasing diversity of interest from countries like India, Indonesia, and the Middle East, indicates the potential for growth and investment opportunities.Siem ReapO’Sullivan confirmed that most investment is in the capital but successful property projects are in Siem Reap too. Developers are limited by the fact that they can not build beyond the height of Angkor Wat. These limitations make it less attractive for some developers but the regulations maintain the uniqueness of Siem Reap and it's been a key selling point for tourism.The new airport in Siem Reap is due to be operational in 2023 and its impacts are aspirational but it is difficult to predict the exact growth potential as well as the positive effects for tourism and real estate.SihanoukvilleWe recently outlined the plans to address the building issues in Sihanoukville. What is dubbed Operation UB (Unfinished Buildings), all buildings which are incomplete and 5 floors and above have been identified and the process of ensuring ownership is underway. Once the process has been completed, the plan is to provide favourable terms to local and international investors to take over and complete the projects, and this could see renewed interest in the coastal city.Although many grand projects are underway, the Cambodian coastline remains somewhat underdeveloped compared to other countries in the region and there is still a lack of beachside resorts and activities etc. The new projects on several islands, in Kep, and the Canopy Sands project should create job opportunities in the construction, hospitality, and tourism sectors.The Phnom Penh-Sihanoukville Expressway has already contributed to the city's revival and a dramatic increase in domestic tourism.Investors ExpectationsThe pandemic resulted in a market correction which was possibly needed as pre-pandemic, property prices may have become unrealistic. Prices in 2023 are arguably more reflective of the property’s location, and the build quality, and in line with expectations. With continued investment (and there are short-term pressures) asset-rich and affluent investors will drive the market. The pricing also means the property market is now within reach of the growing Cambodian middle class who are looking to buy.Buyers who previously expected a return of investment from 5-8% from rentals might need to wait as this may not happen in the short term. However, with more young Cambodians moving to a city like Phnom Penh, there will be a market and demand. For the developers, they need to better understand the target market and pricing needs to reflect this. For investors, it's still a buyer's market if buyers have cash in hand and have long-term aspirations.O'Sullivan concluded: “For anyone overseas or visiting now for the SEA Games, I just really encourage them to come and have a look. Once someone lands in Cambodia it really opens their eyes to how developed the country is, and regardless of what type of visitor you are; business, tourist, family - there is something for everyone in Cambodia.”

IAAC (International Airport Advertising Corporation), the renowned experts in global airport advertising management, wasted no time in revolutionising Cambodia's Digital OOH ad industry when they became Cambodia Airports' exclusive ad partner just eight months ago.With their innovative approach, they created the first-ever super-premium, integrated digital ad programme at Phnom Penh International Airport, setting a new standard for excellence in airport advertising.IAAC's million-dollar ad investment project at Phnom Penh airport is revolutionising Cambodia's advertising market by providing B2B and B2C brands with an engaging way to reach thousands of affluent Cambodians, international business decision-makers, and tourists to the Kingdom of Wonder. This cutting-edge advertising platform brings a new level of sophistication to the industry, promising a seamless connection between brands and their target audiences.The first of its kind in Cambodia, it is transforming the way brands connect and engage with inbound travellers. With this new tool, brands across various sectors including property development, telco, food delivery, hotels and tourist attractions, are able to effortlessly promote their products and services to potential customers from the moment they touch down in Cambodia. Advertisers are rapidly embracing the opportunity, as it is a game-changing addition to the industry.The timing couldn't be better for property developers in Cambodia, especially with the return of Chinese visitors and the launch of the Digital Arrivals Network. Waiting times for luggage average around 15 minutes, and that's exactly how long each of the 12 super large format, LED digital screens located on the baggage carousels at Phnom Penh airport will capture the attention of potential buyers.These unmissable advertising messages, displayed in various languages, offer property developers the perfect opportunity to showcase their offerings to a diverse audience before they scatter across the city - a feat that's proven challenging until now.IAAC's swift entry and transformative approach to advertising at Cambodia Airports not only highlights their dedication to bringing innovative solutions to the country but also positions them as a key player in advancing the premium digital OOH advertising sector in Cambodia.For more information, please contact:IAAC (International Airport Advertising Corporation)Contact - Mr Jonathan Goldsmid Phone - 081 836 636Email - Jonathan.Goldsmid@airportadvertising.comWebsite - www.airportadvertsing.com

Housing prices, being a crucial market indicator, have consistently gained the attention of investors and home buyers. In this article, we will break down the different housing prices in Cambodia. Cambodia's Recent Housing Price ChangesOver the past 10 years, housing prices in Cambodia have been showing a steady upward trend. Especially in the capital city of Phnom Penh, due to the acceleration of economic development and urbanisation process, the rise of housing prices is more obvious.According to the National Bank of Cambodia (NBC), house prices in Phnom Penh rose by an average of about 8.7 per cent annually between 2010 and 2019. This is mainly due to the rapid economic growth of Cambodia and the increase in foreign investment, which has greatly increased market demand.However, due to the impact of the epidemic, Cambodia's real estate market has been hit to a certain extent, and there was a short-term decline in early 2020. With its economic recovery on the right track, coupled with the Cambodian government's stimulus measures and overseas investment, the market has begun to recover from 2022, and housing prices are gradually picking up.What Is The Average Property Price?As per a data report by the National Bank of Cambodia (NBC), the Phnom Penh housing price index is expected to reach 115.4 points in August 2022, marking a substantial 15.4% rise from the index based on 2020 figures. The housing price index is expressed in points, with each point representing a percentage change from the base year. This surge in prices puts the average cost of a property in Phnom Penh at US$114,164. How Much Do Apartments Cost In Cambodia? Cambodia's development continues to flourish, it offers an increasingly diverse range of properties, with apartments becoming a popular choice among foreign investors. The price of an apartment can vary depending on factors such as location, property quality, and delivery standards provided by developers.According to market research by Realestate.com.kh, the price range of apartments is typically between US$1,500 to US$3,500 per square metre, with high-end apartments in central Phnom Penh commanding prices above US$3,500 per square metre, and apartments in suburban or sub-central locations being relatively more affordable.For instance, a studio apartment with an area of 50 square metres would cost around US$100,000 at US$2,000 per square metre, while a one-bedroom apartment with an area of 80 square metres would cost approximately US$160,000. Moreover, buying an off-plan apartment could provide a 5% to 10% appreciation in a short period of time and can offer interest-free instalment plans. How About The Price Of Borey In Cambodia? When it comes to borey, prices can vary greatly depending on factors such as location, size, and level of luxury. It's helpful to have market data as a reference, such as the Phnom Penh Post's report of an average price range of US$1,000-1,500 per square metre for suburban borey in 2019. Luxury borey can go for more than US$3,000 per square metre.According to the market research conducted by Realestate.com.kh, it indicates that the average price of borey in Phnom Penh and surrounding areas will be around US$2,000 per square metre. Meanwhile, prices in other cities like Siem Reap and Kampot will be relatively lower, around US$1,000-1,500 per square metre.While ultra-low prices may be tempting, it is important to consider other crucial factors before making a purchase. For example, buyers should investigate whether the developer has obtained the necessary legal documents, such as title certificates and construction permits, as well as the reliability of the development plan, to avoid any potential scams. Visit Realestate.com.kh to find your dream propertyClick Here

For those who missed the weekend's events, we have put together a summary of the happenings in Cambodia. Our coverage spans a range of topics, including updates on the economy, SEA GAMES 2023, the real estate market, tourism, and development news.Night Tourism in Sihanoukville to Attract More VisitorsTourism Minister Thong Khon has revealed that the Ministry's aim to boost night tourism will involve a partnership with the Sihanoukville Provincial Government to establish a street bar. It is expected to attract a greater number of night tourists. Alongside the street bar plans to introduce night food streets are also under consideration, reflecting the growing trend for food-related tourism. Siem Reap which also has a "Pub Street" is one of the popular locations where F&B, especially during Khmer New Year, where locals gather to celebrate.Moreover, Minister Khon shared that the Sihanoukville-Siem Reap night bus service will soon be launched, catering primarily to international tourists. Departing from Westport at 7:00 pm, the bus will reach Siem Reap at 4:00 am the following day.More than 20 Tourist Attractions Approved by the CDCThe Cambodian Development Council (CDC) has given the green light for the development of over 20 islands in the province to be used as tourist attractions, out of a total of 30 large and small islands. Prominent among these are Koh Rong, Koh Song Saa and Koh Rong Sanloem. 28 companies have been granted approval to carry out these development projects.While some island development and operation projects were put on hold due to the COVID-19 pandemic, they have resumed operations. All development projects are executed according to the principles of sustainable development, with no negative impact on the environment or natural resources.SEA Games 2023: Cambodia Aims to Attract Half a Million Tourists to Boost Tourism IndustryAs the host nation for the 32nd SEA Games, Cambodia is preparing for a major tourism event that is expected to draw a significant number of international visitors. The country is gearing up to welcome around 500,000 international tourists during the Games, making it a grand tourism event for ASEAN and Southeast Asia as a whole.The tourism industry in Cambodia has been on an upward trajectory, with a total of 2.2 million international tourists expected to visit the country in 2022. The first quarter of this year alone saw 1.2 million international visitors arrive in Cambodia, and it is projected that this number will surpass 4 million by the end of the year.Phnom Penh-Siem Reap Expressway Feasibility Study to Conclude in May 2023The feasibility study for Cambodia's third expressway, the Phnom Penh-Siem Reap route, is set to be completed by May 2023. The Ministry of Public Works and Transport has authorized China Road and Bridge Corp (CRBC) to undertake a more comprehensive and formal analysis. The proposed expressway will span several provinces, including Kandal, Kampong Cham, Kampong Thom, and Siem Reap. Discover your dream home by exploring our listings Click Here!

There has been plenty of media coverage on the speculative and approved logistics projects and aligned infrastructure in the Kingdom. The push for investment from the government and private-public partnerships in the logistics sector could be a boon for all industries, including the demand for specialised commercial property and result in rising land prices in Cambodia.Comprehensive Intermodal Transport Master Plan 2022-2030 (CIT-MP)Minister of Public Works & Transport H.E. Sun Chanthol has provided recent updates on the Comprehensive Intermodal Transport Master Plan 2022 – 2030. More than 150 projects have been identified for investment - needing a total of around US$30 billion. There were hundreds more projects that have not yet been approved (around 332 projects needing a total combined investment of $48.6 billion).Most of these identified projects fall under the various master plans which are in varying degrees of competition and approval in the Kingdom. The CIT-MP is a large and comprehensive plan which includes infrastructure such as roads, railways, waterways, airways, logistics and ports. The main goal is the improvement and modernisation of the logistics framework to ensure the Kingdom can be elevated to a tech-savvy regional hub by 2030. offering world-class infrastructure within ASEAN.Logistics and Infrastructure in CambodiaAt the start of the year, we outlined a selection of key investments and new infrastructure projects. Most of these are on track and have had updates - but significantly even more projects have been announced to enhance logistical endeavours and upgrade major transport routes to ensure connectivity domestically and regionally.Some of the new projects announced since the start of 2023 are:Bassac Sea Link Project - Aims to connect the Bassac River to a seaport in Kep province, and the Bassac River to the Gulf of Thailand, providing direct access from the Phnom Penh Port to Cambodia’s seaports.Several more bridges are under construction; such as the tallest bridge in the country on National Road No.10, connecting Battambang and Pursat Provinces with Koh Kong Province.Expressways – The completed Phnom Penh-Sihanoukville Expressway, since its launch in October 2022, has seen more than 2.5  million vehicles make use of it. The Phnom Penh-Bavet Expressway construction is due by mid-2023 and could connect with a new freeway on the Vietnamese side to offer quicker access between the capital of Cambodia and Ho Chi Minh. A study is also being carried out on a Siem Reap Expressway connecting to Phnom Penh.Railways – No real concrete progress has been made but several options are still being explored to improve and modernise the rail network for freight and passengers and interconnect Cambodia to the region.Coastal Development -  a government-approved massive satellite city project in Kep is set to drastically increase land prices and 2 islands in Koh Kong and Preah Sihanouk have had investment projects worth $40 million approved.How Much Can Logistics Grow in CambodiaIn a recent presentation from Profitence, they stressed that ongoing policy dialogue between the private sector and the government is crucial and that the Kingdom has the benefit and advantage of learning from best practices abroad. The private sector can capitalize on this and international companies can transfer their technology and market know-how into Cambodia.Air passenger traffic could grow to between 26.5 and 30.5 million annually - the new much larger and modern airports are key to this - but also their transport connectivity domestically and the hotels, F&B, tourism etc built around the vicinity.Air cargo is predicted to reach 350,000 to 400,000 tonnes, railway freight could reach eight million tonnes per year and 1.5 million passengers annually by 2030 - all freight is set for growth as facilities are added, improved, and systems modernised and digitised.Impact on Land PricesThe January 2023 land prices from the Ministry of Economy and Finance of Cambodia suggested land prices are higher when situated close to main roads and infrastructure, while land bordering rivers or lakes impacts price valuations and may contribute to a higher land price.Although property prices have stabilised, data suggests land prices are still on the move in the popular areas of the capital. This will be driven by local and foreign buying interest, and comparatively stronger economic growth for the region in the untapped potential of the economy. In developed markets, the limited availability of land in prime city locations has driven up land values, and to alleviate demand and rental pressures, several authorities are establishing logistics hubs in neighbouring cities and provinces. This is where Cambodia should be targeting investment.What will Drive Growth - E-Commerce & Logistics OpportunitiesThe Southeast Asia E-Commerce Industry Report 2023 says that the Gross merchandise value (GMV) of e-Commerce increased from USD $10.9 billion to $131 billion between 2017-2022 in the region.The State of Logistics Asia-Pacific Focus Report 2023 also adds the surge in demand from e-commerce operators during the pandemic threw the entire logistics sector off as “asset owners were ill-equipped with the necessary space to accommodate it, particularly institutional grade properties.”  As the emerging market with the fastest economic growth and greatest development potential, the e-commerce industry in Southeast Asia has developed very quickly and continues to cater to the regional population of over 600 million. Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.Within the region, Cambodia is tapped to have the strongest GDP growth.Yahoo Finance ranked Cambodia as the 14th Fastest Developing Country in 2023 with an expected GDP growth of 5.8%.Cambodia was ranked tied second with Vietnam for regional GDP growth according to the International Monetary Fund, projecting 5.8 per cent growth in 2023.The Asian Development Bank has projected Cambodian GDP growth of 5.5 per cent in 2023 but rising to 6.0 per cent in 2024.The governor of the National Bank of Cambodia, Chea Chanto, has set a 6 per cent target for 2023.The State of Logistics Report also highlighted the potential of an emerging market like Cambodia’s. “With evolving supply networks, emerging Southeast Asia is set to become an important investment market for logistics real estate. The region remains critical to supply chain diversification… In the longer term, its e-commerce potential is massive given its considerable and growing consumer class.”According to TikTok and Boston Consulting Group, the e-commerce gross market value (GMV) in APAC is estimated to reach US$3.5 trillion by 2025.Rebalance of supply chains and increased resilience – the decoupling from China will make SEA a top destination for foreign direct investment among emerging regions.Much of the domestic strategic planning needs to tap into technological trends and build now for the future. The Asian Development Bank (ADB) indicated that technology and big data are key to fast-tracking economic recovery in Southeast Asia (SEA). In terms of commercial spaces in the Kingdom, investors are still able to secure land and large-scale properties that can accommodate a range of logistical and technological needs and still be situated relatively close to urban city centres, and major new transport and logistics hubs. The rising price of land and property in the future will make these ambitions more expensive.Japan for example is sending an investment delegation for the third time in November 2023 to study potential investment projects in Cambodia such as factories, science and technology parks and EV charging stations. They have already been funding the Cambodia Post Operational Processes Upgrade to help transform Cambodia Post by upgrading processes, training and facilities to automate tracking and delivery of goods and better recording and delivery of services.For overseas investors now is an opportune time to gain long-term benefits as in-city hubs, urban warehouses and the needs in new satellite cities only gain in popularity.

During yesterday's press conference for the launch of the new B2B Cambodia on April 27th, Tom O'Sullivan, the CEO and Director of realestate.com.kh, shared his observations on the real estate market in Sihanoukville and Phnom Penh. He noted that the Phnom Penh-Sihanoukville Expressway, along with the deep-sea port, Special Economic Zone, and the beautiful beaches and islands, are contributing to the city's revival. The government has been making efforts to address the issue of stalled investment projects in Sihanoukville to instil confidence among investors.Cambodia's Industrial Development Policy 2015-2025 and Sihanoukville Masterplan aim to transform the coastal city into the "Shenzhen of Southeast Asia.".Sihanoukville is an investment hub with numerous projects that included hotels, commercial buildings, hospitals, schools, restaurants, and casinos. However, the changes in online gambling laws and the pandemic slowed down the city's growth.Tom emphasised that there are indications of the city returning to its roadmap of revival, although he wasn't claiming a realty boom. He believes the city will become a vibrant hub catering to everyone's needs, including families, tourists, foreign investors, and more.Tom also shared his thoughts on the real estate market in Phnom Penh, stating that it's currently a buyer's market. Foreign investors have focused on tier-one areas, including Chamkarmon, specifically BKK1 and Tonle Bassac, due to the current investment climate's risks. Chroy Changva is also gaining attention due to the upcoming SEA Games, the completion of a new bridge, and further connectivity to the area.Despite the challenges posed by the current investment environment, Cambodia's consistent economic growth has solidified its position as a desirable destination for foreign realty investment. Tom pointed out that both the Borey and condominium markets are experiencing oversupply. He attributed this to the market being hot before the pandemic, and almost anything seemed to be selling. In addition, the CEO noted that although foreigners still prefer purchasing condominiums due to their straightforward ownership structure, the emergence of the Trust Law has led some to consider buying land or landed property.Tom stated that China is the biggest foreign investor in Cambodia, but he noted increasing interest from the US, Europe, Singapore, Malaysia, Japan, South Korea, and others playing a major role. Discover your dream home by exploring our listings Click Here!

The Alliance for the Conservation of Fisheries Resources (FACT) has established a new initiative to build floating markets and bungalows in the provinces bordering the Tonle Sap Lake, including Kampong Thom, Kampong Chhnang, and Pursat. The project aims to improve the livelihoods of the local community while sustaining the fishery resources in the lake.Tonle Sap Lake is one of the largest freshwater lakes in Southeast Asia and a crucial resource for local communities who depend on it for their livelihoods. However, the overexploitation of fishery resources has resulted in the depletion of fish stocks and the degradation of the lake's ecosystem.To address these issues, FACT has initiated two projects. The first project aims to promote the rights of local communities towards the sustainability of fisheries resources. This involves engaging with local communities and empowering them to take an active role in the management and conservation of the lake's resources.The second project focuses on conserving biodiversity and addressing climate change. This includes developing sustainable practices that minimize the impact of human activity on the lake's ecosystem.To promote sustainable livelihoods, FACT is encouraging the diversification of income sources, such as processing fishery products and producing souvenirs and other flooded non-timber forest products. Additionally, it is promoting the development of tourism and ecotourism services through the construction of floating carp markets, bungalows, and centres focused on biodiversity, culture, and social activities.By engaging with local communities and promoting sustainable practices, FACT hopes to improve their livelihoods while preserving the ecological integrity of the Tonle Sap Lake. Developing sustainable livelihoods and conserving biodiversity and addressing climate change are crucial for the long-term health and well-being of the community and the lake.  Discover your dream home by exploring more of our listings Click Here!