At the Cambodia Real Estate Show 2, Mr. Li Min, a well regarded expert with over 20 years experience in the real estate industry shared his views regarding the strengthening of China and Cambodia’s diplomatic and economic relations, the impact that One Belt One Road Policy will have on the Kingdom and his optimism and predictions regarding Cambodia’s economy going forward.
In regards to the relationship between China and Cambodia, Mr. Li said “China and Cambodia have a long history of friendship. According to statistics, the friendship has a history of more than 1,000 years.” In particular, Mr. Li believes that with the support of King Norodom Sihanouk after President Xi proposed the "One Belt, One Road Policy” in 2013, the friendship between the two nations has reached an all-time high.
Mr. Li further believes that with the "One Belt, One Road Policy", China's political, economic and cultural ties with the Kingdom will become closer which will have a positive diplomatic and economic effect on Cambodia in the years to come.
2018 will be another key demonstration of the positive condition of relations between the two nations as there will be many domestic and international events happening in Cambodia according to Mr. Li. Further to this, next year will mark the official establishment of the two nations diplomatic relations- which will be a major event.
Mr. Li, is also the CEO of Prince Real Estate Group (Cambodia) which is a large-scale enterprise, that has brought the experience, technologies, talents, and capital from China's real estate sector over the past 20 years, to Cambodia.
The developers have made a proactive effort since establishment in the Kingdom in 2015 to understand the demands of the local market and have adapted their projects accordingly, integrating affordability into their host of successful projects.
In terms of Cambodia’s economic development as a whole, Mr. Li said that “Cambodia has shown a swift and overwhelming level of growth from the year 2000.”
2010, especially has been a catalyst in that respect as the overall economic structure in Cambodia is experiencing a full range of improvements- especially in the real estate market according to Mr. Li.
With the introduction of the 2010 Law on Providing Foreigners with Ownership Rights in Private Units in Co-owned Buildings- which was the first move to giving foreigners any ownership rights in the Kingdom, namely in the second floor or higher units in condominiums, Mr. Li. believes this law change has been a very positive move.
“From 2011 until now, this policy has attracted a large number of foreign investors, playing a significant role in real estate market." Mr. Li said. He further elaborated that Cambodia's construction ánd cultural environment has been continuously improving with growth in tourism from China and all across the world, and he expects that to increase in the coming years
Ultimately Mr. Li believes the real estate market in Cambodia is currently the best among the entire ASEAN countries. "We are very optimistic about the future development of the real estate industry in Cambodia."
To learn more about Mr. Li's expert views regarding the Kingdom's economic growth, “One Belt One Road Policy” and other projects in the pipeline, please watch the full video above.