Buying a business in Siem Reap with Cambodia Property Shop
Updated on: June 6, 2022, 5:02 p.m.
Published on: December 22, 2018, 5:00 a.m.

Buying a business in Siem Reap with Cambodia Property Shop

One of the owners of a leading real estate sales and marketing company in Siem Reap has opened up about their company, its operations, coverage, focus, and future plans.

In an exclusive interview with Realestate.com.kh, Charles Richard Evans, Cambodia Property Shop (CPS) Broker-Owner, also discussed his observations of the Siem Reap property market.

Mr Evans owns and runs CPS in partnership with local businesswomen Linda Heng and Lisa Heng. In addition, the trio jointly owns and operates two other business ventures- Cambodia Business Investment and Siem Reap Rental ASIA.

Cambodia Business Investment is a business advisory firm, while Siem Reap Rental ASIA is among the leaders in the business brokerage and property rental business in Siem Reap, with a focus on land, apartments, condos, flats, villas, houses, guesthouses and restaurants.

“We are primarily business investment advisors,” said Mr Evans, who is also the Sales Manager of CPS.

Mr. Evans said their company is currently focused on hotel and hospitality-related businesses- hotels for rent, hotels for sale, lands for sale for development of hotels, restaurants, and bars. “In the future we will concentrate on restaurants and bars,” he disclosed.

As for location, Mr Evans said their business focuses on areas in central Siem Reap that are suitable for building hotels. He mentioned Wat Bo, Wat Damnak, and Old Market as among the best locations and where they have their eyes on.

Looking at the property market in Siem Reap, Mr Evans said the market is down compared to the previous years.  “I have been here for the last 10 years. The market now is less vibrant than it was in 2015, 2016, even 2017,” he pointed out.

Mr Evans also observed that many operators failed by taking shortcuts and by failing to follow applicable laws and regulations. “In 10 years of selling and renting hotels, I have seen too many failures by inexperienced operators who do not follow the legal process and fail to conduct due diligence before they make a purchase or rental,” he noted.

A native of New York City, USA, Mr Evans relocated to Southeast Asia in the late 1990s. He first settled in Thailand where he founded and was co-owner of Evans Marketing Business Brokers in Jomtien. He is also president and co-owner of Sathienpaphong-Evans Law and Accounting firm in Thailand. Mr Evans now resides in Siem Reap where he is a Director of Cambodia Insight, in addition to co-owning/managing Siem Reap Rental ASIA, Cambodia Business Investment, and Cambodia Property Shop.

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