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Property Valuation Industry Outlook, with Sim Hoy Chhoung on Realestate.com.khTV
Property Valuation Industry Outlook, with Sim Hoy Chhoung on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Property valuation is the process of estimating the total value of a property in terms of several factors that are dependent on the industry standards. This may consist of property location, size, future profitability, environment, government policies, and so much more.And since the primary aim of property investment is to get a return of investment and maximizing resources, it is essential that there is an accurate view of the property’s value. While property valuation is performed by trained individuals in the field, even newcomers can benefit from learning the basics. This will make a difference in how transactions are made as it will provide a wider perspective and understanding for people on both ends of the deal. This will ensure that there is significant protection for both the property holder and the entities such as financial institutions, insurers and other parties that also depend on valuations.  There are two main applications of valuation according to Mr. Sim Hoy Chhoung, CEO of V Trust Appraisal Co. Ltd, which he explains in his presentation at the Real Estate Market & Outlook Conference (REMOC) 2016. One of them is property valuation for financial reporting - which is becoming increasingly significant with the importance that the industry now places on the implementation of the International Financial Report Standard. This standard aims to provide consistent and reliable standards based on concrete data. The second application is property valuation for secured lending - where he particularly places emphasis for commercial banks and lending institutions to comply with IVS applications, and also to produce clear conditions of engagement so that there is assurance that the property market will function properly and be well supported by available financing options.Chhoung goes on to show, through a case study of The Central Bank of Ireland, how these applications have made a significant impact on the banking crisis there. In Ireland there were weaknesses in instruction given to valuers, conflicts of interest, failure to conduct frequent valuation reviews, inadequate training and inappropriate use of informal valuations. As a result of these lessons learned, Chhoung sees opportunities for growth in the Cambodian climate, if the National Bank of Cambodia accepts these challenges and seeks to overcome them.LEARN MORE ABOUT THIS TOPIC IN AN IN DEPTH ONE ON ONE WITH REALESTATE.COM.KH & MR CHHOUNGChhoung concluded his presentation by providing suggestions and solutions such as the CVEA and the Ministry working together in providing growth for valuers by providing minimum hours CPD requirements. He also suggests for policy makers to incorporate international standards like the IVS and the RICS professional standards into the local outline for valuation; and to provide even more training and education about property valuation throughout the market. He also calls for banks and financial institutions to consider recommendations for best practices to improve how loans are carried out.While there are already great returns from investments made in Cambodia, it is important to get ahead and obtain proper valuation for your property to ensure sustainability and to anticipate future costs and conditions, should there be any sudden market, infrastructure or policy changes.NEED A PROFESSIONAL VALUATION? INQUIRE TODAY WITH REALESTATE.COM.KH - FAST, EASY, SECURE!
Chroy Changvar Riverside: Sokha Group set to Transform Chroy Changvar
Chroy Changvar Riverside: Sokha Group set to Transform Chroy Changvar
June 6, 2022, 5:05 p.m.
Property Reviews
Realestate News
A large multi-purpose project of the Sokha Group has just been announced publicly on the company's official website. This huge multi-purpose project on Chroy Changvar peninsula will include residential condominiums, a large and modern commercial center and various other features yet to be announced. Recent news suggests the Chroy Changvar area is set to transform into an area with great potential in commercial and residential real estate in the coming years, and especially so for foreign investors able to purchase these properties under the foreign investment law regulation. This new investment of by the Sokha Group represents the largest project in Chroy Changvar to date.Please contact our professional team for more info! The "Chroy Changvar Riverside" concept evolution draws on many traditions of Khmer culture. The Design concept revolves around the Dragon Boat and sail, a famous symbol of the Khmer culture. The Dragon Boat race is an important cultural event that takes place on the Tonle Sap River every year. The architectural form of this event is relayed through the elements of the water, the boat and the sail - creating an architectural design with natural flow, transparency and a design that embraces the elements of the riverside where it will soon stand. Meanwhile, the Apsara dancers, a staple of traditional royal Khmer culture, are also merged into the design - representing beauty, divinity and the spirit of unity toward mutual progress. Sokha’s project looks over the Mekong river, Tonle Sap and royal palace: “So far there is no project in such a place, meaning buyers may come from foreign countries to enjoy a high standard of living here,” says Ms Chamroeun Phoeurk, marketing director at Emerald+ Property Management. Mr. Van Chanthoeun, ceo of TownCity Real Estate, agrees with Ms Chamroeurn, “this new project’s location is really good, and well suited to the property development in this region. Furthermore, Sokha Group is a huge company with substantial experience in the field of real estate and property development over many years in Cambodia.” Mr. Chanthoeun added that, “the company already has many customers in hand." Chanthoeun continues to say, "I think that this project will absorb more and more buyers from foreign countries; and if this project allows agency services to assist the buyers in helping them to find those who want to rent, this rental return service will grant investment buyers more profit and ultimately help the projects long term success." Stay tuned to Realestate.com.kh NEWS for more information about this huge new project as soon as it is released.Please contact our professional team for more info!
Industrial Real Estate Market Opportunities, with Sung Sina on Realestate.com.khTV
Industrial Real Estate Market Opportunities, with Sung Sina on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Cambodia has seen a wonderful start in its commercial property market in 2016 which is confirmed through reports such as the Knight Frank Asia Pacific Prime Office Rental Index 2016. Commercial spaces and industrial real estate have seen one of the biggest demands for investments in the country so far, especially from the foreign nationals who see its potential as the Cambodian economy shifts into the ASEAN region. Although there have been around 150 factories that closed in Cambodia in 2015, there are still more than 500 active factories using around 5,000,000,000 square meters of land in Phnom Penh alone, says the Director of the Valuation Department at Bonna Realty Group, Mr. Sung Sina, in his presentation at the Real Estate Market & Outlook Conference (REMOC) 2016. This is due largely to the fact that foreign investors coming in from different countries like China, UK, Taiwan and Hong Kong find that commercial properties and labor in the country for textile, apparel and footwear manufacturing is relatively inexpensive compared to neighboring countries. This is still the case despite the fact that the minimum wage has now risen to $140 a month, excluding lunch and transportation allowances. Sina states that there have been 2,305 industrial real estate projects that were approved by the Ministry of Land Management Urban Planning and Construction, which brought a 33.14 percent increase from 2014, bringing construction investments to a total of $3.38 million. Sina also mentions that special economic zones will play a part in the future of industrial property investments; a key place in which future developments such as factories and warehouses can call home. At the moment, there are 13 active SEZs in Cambodia and 34 that are currently being approved. These special economic zones will bring about wider roads and centralization of properties that will comply with international standards in terms of titling. Having these SEZs will also be more convenient for investors who will have reliable access to utilities like waste water disposal, electrical power and flood protection. This makes it very attractive for foreign investors who are looking to relocate their operations in Cambodia. Sina, however, warns that though there has been significant growth in the industrial market from previous years, this has also caused an increase in competition as well. This isn’t necessarily good news for property agents, but it does provide more flexible options for investors. This also serves as a challenge for those in the industry to be more innovative in their marketing and approach when catering to potential property investors. Much like in every industry, there is always a possibility for growth and regress. But the Cambodian industrial real estate market has proven that despite going through difficult circumstances, it will remain to be a stable investment option. And with policies that aim to improve the quality of working conditions and worker convenience, those who wish to put their money into the industrial property market are still projected to have a significant amount of investment return this year and in years to come. View Industrial Real Estate in Cambodia NOW
What is the value of Life Insurance in Cambodia? on Realestate.com.khTV
What is the value of Life Insurance in Cambodia? on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
Life insurance is a relatively new concept to Cambodia but it is an important one. Life insurance is about protecting your life against the daily risks one can be exposed to that may lead to loss of life. One of the major risks in the kingdom is death due to road accidents.Leading insurance provider, Camlife offers insurance products to all Cambodian’s to ensure their policyholder’s lives will be protected against incidences such as road accidents; and if something should happen to them, their family and loved will be protected and provided for with the guarantee of a better future. Life insurance offers the chance to leave a legacy after you are gone, and to ensure those closest to you will inherit financial security to live on beyond their grief.   Camlife has two products: life protection and endowment. Life protection covers risks to your life and endowment is a combination of life protection and a means of investing and saving money in order to make it work for you. Camlife invests your premium during the term for example, 10 or 15 years, in order to make a return which includes any interest accumulated over the investment length. During the term you have the benefit of not only protecting yourself against risks to your life in the future but also a means of growing your invested money at the same time. Both products add value to your life and are very affordable.Contact us now to find out more about these policies!
CREA News Page 2024 ENG
Be a better real estate agent, with Kim Heang on Realestate.com.kh
Be a better real estate agent, with Kim Heang on Realestate.com.kh
June 7, 2022, 6:56 a.m.
Realestate News
There’s great profit to be made with selling properties, especially in a country with a fast-growing economy like Cambodia.Whether you’re new to the industry or have been around for a very long time, there will always be people looking for a good investment and they will always try to look for someone with insider knowledge in property. That someone is usually their real estate agent.Whether it’s for selling property or looking for the next home that would best suit their needs, it’s most likely that real estate agents are sought after for help. But real estate agents are bound to make mistakes if they lack certain knowledge, skills and attributes.In an interview with Realestate.com.kh, Mr. Kim Heang, CEO of Khmer Real Estate and former president of the CVEA (Cambodian Valuers and Estate Agents Association), states that “if you have a good occupation, if you have good language, that is not enough.”So, before trying your luck at becoming a real estate agent in Cambodia, here are a few tips:Educate Yourself:Educating yourself does not only mean reading up on the market and getting updates on trends through your smartphone. It means getting a proper education and a bachelor’s degree.There are about a thousand or more registered property agents and ten times more self-proclaimed property gurus in the Kingdom who give investors bad deals and misinformation. It not only makes people from the Cambodian industry look bad, but it also scares people from investing in Cambodia and trusting property agents again.Learn the Language:Heang says that although there are many investors in the local and international market, most of them are foreign nationals looking to invest in properties for commercial use, residential investments or for retirement. So, you have to learn their language in order to prevent any misunderstandings.English may be a safe first choice as it is spoken by many foreign nationals. But since the Cambodian real estate market is particularly popular with investors from China, it will serve as an edge for you if you can speak Chinese as well.Experience and Employment:One of the things to look for after getting your education and learning the language is experience as a real estate agent. Many newcomers make the mistake of applying for positions in a big company says Heang.If you’re looking for good experience, look for it in middle-class companies where you can learn from the founders or CEO directly. At the same time, being in a company that’s still growing will give you better opportunities that you will have a hard time getting into big companies.If you are looking for a real estate agent in Cambodia, read our guide on Choosing the Right Cambodian Real Estate Agent.Honesty:Your honesty is probably the most important among all the attributes a great real estate agent must possess. As Heang puts it, “it’s from your heart”.Many who are new to the industry make great money at the beginning but often struggle in the long run. This is because they lack empathy for the needs of the investors. So, it’s important that you remain truthful and just give them their best options rather than set high expectations you know you cannot fulfil.Your integrity and good character are what will keep them coming back. The longevity of your career is dependent mostly on the trust you build with your client base. Whether you’re new to property investments or not, it’s important to keep all these in mind to prevent unnecessary mistakes and future complications.It is important to note that the job of a real estate agent is not just to make profits, but to keep in mind the best interest of the investors at all times.  For more news and tips, tune in to Realestate.com.kh daily!
Addressing the Gaps of the Cambodian Valuation Sector, Realestate.com.khTV
Addressing the Gaps of the Cambodian Valuation Sector, Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
NEED A VALUATION FOR YOUR HOME OR BUSINESS? Realestate.com.kh was extremely proud to sponsor and support the BritCham & IBC Luncheon and Panel Discussion on Property Valuation in Cambodia: “Addressing the Gaps.” The development of the Cambodian valuation industry is a core factor is creating a sustainable real estate market. BritCham and IBC in partnership with the Royal Institution of Chartered Surveyors (RICS) and the Cambodian Valuers and Estate Agents Association (CVEA) welcomed the Cambodian business community to a focused business luncheon on the topic of valuation of property in Cambodia: “Addressing the Current Gaps.” The event was held of Tuesday 19th April with a panel of experts sharing their perspectives, followed by an open discussion with the audience on the state-of-play of valuation in Cambodia. About the Panel Speakers:Salim Aslam, ASEAN Manager, Royal Institution of Chartered Surveyors (RICS):Salim is ASEAN Manager for the Royal Institution of Chartered Surveyors (RICS). RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. The organisation accredits 118,000 professionals and any individual or firm registered with RICS is subject to it’s quality assurance. The UK Government’s Foreign and Commonwealth Office and UK Trade and Investment commissioned RICS to produce a report on Building or Fire Safety standards in the construction sector the topic with a view to providing the Cambodian Government with assistance in developing building standards and ensuring better regulation. The Report’s findings and recommendations were presented to and welcomed by the Government last year. Ross Wheble, Country Manager, Knight Frank Cambodia:Country Manager for Knight Frank in Cambodia and oversees all areas of the operational business. Established in the UK in 1896, and now with more than 417 offices in 58 countries, Knight Frank is the world’s leading independent real estate consultancy. As one of the largest and highest profile valuation practices, Knight Frank’s team of professional experts provides a comprehensive range of valuation and market appraisal services across all sectors, valuing in excess of $1 Trillion’s worth of land and buildings in 2015 globally, including some of the world’s most expensive real estate. Holdings a Master’s Degree in Property Valuation & Law, Ross is a qualified Chartered Valuation Surveyor with the Royal Institution of Chartered Surveyors (RICS) and co-ordinates valuations throughout the Kingdom. Kim Heang, President, Cambodian Valuers and Estate Agents Association (CVEA):Kim Heang is a seasoned professional in the Real Estate industry, Business Development, plus a proven leader with the ability to leverage past experience and amazing creative knowledge towards the attainment of company goals. He has a background in both start-up and working with fast growth innovative companies and specialize in building a company’s capabilities to rapidly increase revenue, service levels and profits. Currently, Mr. Heang is the President of the Cambodian Valuers and Estate Agents Association (CVEA) and the founder/CEO of Khmer Real Estate Co., Ltd. BROUGHT TO YOU BY:SPONSORED BY:
Join the Emerging Markets Property Show in Singapore, October 2016
Join the Emerging Markets Property Show in Singapore, October 2016
June 6, 2022, 5:06 p.m.
Realestate News
Cooling measures and uncertainty in the Singaporean property market will see investors flock to the “Emerging Markets Property Show” at the Marriott hotel on the 8th – 9th October 2016. The show is a collaboration between Cambodia’s leading property portal website, Realestate.com.kh, and Asia’s leading property portal network, the PropertyGuru Group.Annual events such as the “Emerging Markets Property Show” held in Singapore this October are uniquely structured to open up new opportunities in overseas property demand for Cambodian based developers. At the show, prospective property investors will have the privilege of gaining first hand information from these developers themselves and a panel of expert speakers. The show provides an avenue to reach out to quality investors looking to purchase Cambodian properties – be it for short term rental yields, long term capital appreciation, or simply for retirement. And Singaporeans are increasingly targeting the Cambodian market for a variety of reasons. Property Cooling Measures by the SG Government of late, such as the Additional Buyer Stamp Duty (ABSD), meaning Singaporeans need to pay additional 7 percent tax for 2nd property and 10 percent on 3rd or more property; and the Total Debt Servicing Ratio (TDSR), which effectively limits the amount that Singapore financial institutions can lend out, capped at 60% of a person’s gross monthly income, are all policies that are pushing investors to look abroad. Despite these cooling measures, there remains a lot of capital liquidity and huge wealth in Singapore. Meanwhile, KHR depreciation against the SGD makes property investment in Cambodia especially attractive; and additionally, Cambodia offers an economy where their investment then remain in US$. The upcoming show in October comes after a highly successful “Cambodia Property Show” held in Singapore in last month. In reference to the previous show in May, Sam Yang, CEO of Eastland Development, a company with a host of Cambodian-based development projects, said that, “the attendance across both days at the Cambodia property show last weekend, on site sales and the 25+ Singaporeans now booked to travel and visit my development sites in Cambodia, is proof that Singaporean investors now identify Cambodia as a prosperous investment landscape.”A Singaporean investor at the previous 2 day expo mentioned that, “Cambodia presents an attractive proposition as an investor, and the returns are a lot more attractive than Singapore; but also neighboring countries – for example Thailand.” He went on to say, “the development infrastructure such as improved motor ways, SEZ’s, deep sea ports and a slated rail network will only add to investor confidence in the Cambodian real estate market moving forward.”The next show in October promises to build on this success!Date: 8th – 9th October 2016 Time: 11am – 7pm Venue: Singapore Mariott Tang Plaza Hotel (Strategically located above the Orchard Road MRT station) Want to take your development to the Singapore market? Contact Realestate.com.kh now while early bird specials still apply! Call us today on 012 286 711,  077 800 917, 017 436 756 or 096 966 9059
Hottest Areas for Property Investment in Cambodia, with Kim Heang on Realestate.com.khTV
Hottest Areas for Property Investment in Cambodia, with Kim Heang on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
There are several reasons why people look for properties to buy... Either they’re looking for their first personal property investment in Cambodia to live in; or adding a new asset into their investment portfolio.Whatever the scenario, there are several factors that you would need to consider before buying an investment property in Cambodia.One of the most important factors must be where that property is located if you want the best chance for capital appreciation and rental returns. The location is one of the most important things to discuss before you decide to purchase a property. It will dictate your lifestyle quality, your travel connections and your overall living expenses, especially in major cities like Phnom Penh, Siem Reap and Sihanoukville. Making a clear decision where is best to put your money will make your job of property hunting much easier. But investment property shopping in Cambodia can be confusing at times, especially for international investors. Since it’s a growing economy, there are plenty of properties to choose from in all parts of the country. These can range from simple flat houses in the inner city, perfect for renovation, to luxurious condominium units bought off-plan in Phnom Penh and Sihanoukville. The question remains though. Which area should you invest in? In a sit-down interview with Realestate.com.kh, the CEO of Khmer Real Estate and current President of the CVEA, Mr. Kim Heang, reveals all the hottest areas property investment in Cambodia right now. When asked about which areas are the best locations for property investment in Cambodia, he says that it really depends on “what kind of purpose” investors have, and how fast they intend to see appreciation on their investment. Based on his years of experience in the Cambodian real estate market, here are a few things that might come in handy:Factory Investors: If investors are interested in setting up factories, Heang says that the best property investment in Cambodia opportunities would be around Road Number 3 and Road Number 4 where port access roads are all accessible and the streets are much wider than the inner city; two points which will assist your factory logistics hugely. He also mentions that workers are much easier to recruit in these areas.  So, there’s no need to worry about a shortage in manpower. If your capacity to manufacture grows, you can easily increase and expand your factory without running into any unnecessary issues in these areas.Middle Class Families and Young Couples: For young couples and middle class families, Heang suggests staying in the CAMKO City area and Phnom Penh Thmey is the safest bet.  Around this area there are more than 20 housing projects already under way - and more starting every month. Phnom Penh Thmey is set to become the “new city” of Phnom Penh, according to Heang. These include Borey projects all including a significant supply of villas, flat houses and some condos for those who wish to start their own family within a borey project; ideal for those who want to bring their family to live in a more secure living space with a healthy community environment. Since most of these projects around CAMKO City and Phnom Penh Thmey have not yet reached completion.Heang adds that if you already have the money available, now is the perfect time to buy - because of its lower asking price pre-completion and its future potential for appreciation. It is expected that once the developments are complete, people will flock to buy in this area and demand will rise significantly. This will lead to an increase in the salable price of all the properties. Savvy investors, therefore, should get in now while the price is low.Commercial Space Investors: If you’re an international investor looking to place your money in something with an upper class touch, but don’t want to spend as much as what prime and premier developers are charging, Toul Kork would be the best place to invest. Home to many expat residents, high-ranking officials and foreign business people, Toul Kork boasts of a relatively open and clean environment that still has lots of space available to build a new house or development project. This area will also see a significant rise in commercial spaces as more and more businesses set up shop here along the main artery roads.Upper Class Luxury: If money is not an issue, then you may want to consider a high-end property market in the most popular residential districts. Whether it’s a live-in upgrade or an investment property, these high-end properties, such as luxury condominiums, apartments and office blocks, offer an amazing lifestyle in the heart of Phnom Penh city. Properties like these can be found in the BKK1, Duan Penh and Riverside areas, considered the primary living space for international corporate workers, expats and prominent wealthy local families. Heang says that BKK is perfect for upper class living, but may cause trouble if you’re a developer planning on building a project there.Heang confirms that there is no height restrictions in the BKK area for new property development - but still new condos, office of hotel properties must be proportionate in terms of total area coverage and height. This is to properly allocate for ample parking spaces for each unit owner. Heang also warns that the BKK area might have reached its peak in term of land prices and now may not be the best property investment in Cambodia for pure-resale. Though helpful, these tips are just general guidelines from trends, market analysis and experience for considering property investment in Cambodia. What will matter in the end is what will be most relevant for you; how long until you want to liquidate your investment; and how you’re going to use the location to your advantage according to your investment goals. Want more video content? Checkout the Realestate.com.khTV channel now!
Dream Home: Living a better life on Realestate.com.khTV
Dream Home: Living a better life on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
Realestate News
A happy family must live in a home that inspires joy - so it's important to find a house for you and your family that gives them all a warm feeling when they are return and sense of security as a future investment.Dream Home guarantees this warm feeling and that sense of home. The construction quality of the project is at the highest standard. Located just 6km from Chroy Changvar Bridge, in the heart of Ta Khmao, Dream Home sits away from the congestion of the inner city but within close reach for working commutes. Because of the popularity of this project to date, at Dream Home there are now only 4 flat houses still available. Each flat house for sale has 3 stories with 4 bedrooms, each bedroom sized 5m x 12m. The flats also include a big space for your personal parking lot, enough to accommodate 2 cars. This is a project with a good location and very clean environment suitable for you and your family to grow. Ta Khmao is set to become a high growth area of Phnom Penh due to is unique height above sea level. This means in future, this region of Phnom Penh will remain resistant to flooding. The river and the green space in this area are also much cleaner than in the denser parts of Phnom Penh city. And Dream Home offers you a special price only $125,000 for a 4 bedroom flat house. And while Dream Home only has 4 flats remaining for sale in this borey development, the developers next upcoming project will include a collection of villas and 30 flat houses for sale.Are you ready to be a new owner of Dream Home! Contact the agent for more info!
Get Worldwide Exposure for your Property, with Realestate.com.kh
Get Worldwide Exposure for your Property, with Realestate.com.kh
June 6, 2022, 5:05 p.m.
Realestate News
Property Buyers & Sellers Advice
Internationals are increasing looking to invest their money in the Cambodian real estate market. According to the Ministry of Land Management, Urban Planning and Construction in the first 9 months of 2015 investments in the real estate and construction sector had a combined worth of $1,752 million, as compared to $1,540 million during the same period in 2014, which means an annual increase of 13.8 percent. This is great news for the new developments market! According to Knight Frank Cambodia’s research, namely the Cambodia Real Estate Highlights 2nd Half 2015, the top five investing countries bringing capital to the Cambodia property market were Korea, China, Japan, Britain and Malaysia. Meanwhile, international buyers are particularly motivated to secure property in foreign markets, with around 60 percent buying property with cash up-front.  The world is changing fast, and people are happier than ever to live, work and invest outside of their home nations. In fact, according to the United Nations, around 3.2% of the world’s population has already made the move to live outside their country of origin. This is one reason the international property market is getting hotter everyday. At Realestate.com.kh, through our developer’s marketing packages, we easily and automatically help Cambodian property developers enter the lucrative international property market, make international real estate connections, and, ultimately, sell property to wealthy international buyers – all without leaving their computer chair. Established in 2009, Realestate.com.kh is a website business focused on helping people buy and sell property; and developing the Cambodian real estate market’s exposure to the world! All the leading real estate developers in Cambodia are working with Realestate.com.kh to develop their marketing strategy online and offline, and we are generating qualified sales leads for them everyday. For property sellers there is no need to waste your time and money listing property on other classified websites where user traffic is not related to property. Realestate.com.kh is ranked number 1 for search results on google.com and google.com.kh for almost all property search keywords related to Cambodia. Our website is also mobile and tablet optimized, which is perfect for Cambodia where this type of traffic holds a large market share. Meanwhile, we harness social media marketing to push your property to a wider audience, with over 70,000 Facebook followers and an audience of over 20,000 on LinkedIn. Realestate.com.kh also has a high level of traffic from international investors, around 30-50% of all organic website traffic. But in addition to this, for those developers that choose to list on our site we can also export that listing to international property portals around the world. Realestate.com.kh has an exclusive listing partnership with the Property Guru Group, Asia’s leading online property portal group used by more than 11 million property buyers and generating over 500,000 enquiries every month – as the market leading website across Singapore, Malaysia, Indonesia and Thailand. Your listings will be co-listed on all of these Property Guru websites when you list on Realestate.com.kh, generating high quality international sales leads for your sales team or exclusive agency! Furthermore, ListGlobally, another co-listing partner of Realestate.com.kh, is the largest international real estate advertising network in the world and publishes property listings on over 50 leading property portals around the globe – including famous websites such as I-Property Singapore and Malaysia, Realestate.co.jp in Japan and many, many more. Your new development will appear on every single website in the ListGlobally network! When you work with us, Realestate.com.kh also co-list your new development on Juwai.com, the leading property website in China for Chinese interested in International Property Investment. Second only to the USA in terms of international buying power, Chinese buyers represent a tremendous new market opportunity for property sellers in Cambodia and Realestate.com.kh capture this traffic for you through our connection with Juwai. Chinese property buyers are also renowned for paying in cash! Juwai.com is the only international property portal hosted on both sides of China’s Great Firewall, and your listing will be translated and optimized to suit the Chinese market.  Also, early bird discounts are still available for the “Emerging Markets Property Show” in Singapore, a property expo organised by Realestate.com.kh and the Property Guru Group, on the 8th and 9th of October 2016. Cambodian developers can exhibit their projects and close deals with international investors. If you are interested in attending or exhibiting your new development project visit or call Realestate.com.kh on 095911466, 069 436756 or 017 436756, or email info@realestate.com.kh.  Harness the online revolution that is spreading across Cambodia and the globe – and get your listings sold to international investors on Realestate.com.kh today, Cambodia’s home of real estate.
Change your industry for the better, with Le Urban Eco Park
Change your industry for the better, with Le Urban Eco Park
June 6, 2022, 5:05 p.m.
Property Reviews
Realestate News
Cambodia’s first eco friendly industrial park, part of a larger mixed use development project named Le Urban Eco Park, was conceptualized by Singapore Developer, CIAC Investment Co Ltd. With its first factory fully operational, Le Urban’s Industrial Park has set its sights on expanding their business rapidly, to remain regionally competitive by designing and structuring their facilities to higher worker health and safety standards than Cambodia has ever seen. In addition, their eco concept brings a host of other financial benefits for their factory owners and tenants by being environmentally friendly, energy efficient, and innovative; all in ways that translate into additional cost savings and improved production efficiencies.SEE THE FULL LISTING AND INQUIRE FOR MORE DETAILS TODAYGreen spaces, parks, staff accommodations, and a commitment to recycling resources and leaving a light carbon footprint have also been incorporated into the master plan to truly make this development a clean and sustainable center of commercial and industrial activity; and one that truly sets the standard for the industry in terms of improving the quality of life for workers and area residents. Le Urban Eco Park is the first of its kind in Cambodia; and their industrial park is leading the way as the only facility awarded the Green Mark Gold Certification by the BCA (The Building and Construction Authority) operating under Singapore’s Ministry of National Development. For more progressive and socially minded factories, having this certification provides greater access and leverage with internationally recognized brands and retailers who value suppliers with a more holistic approach to responsible manufacturing practices. For instance, areas are built to have a wider space where employees have a more comfortable area to work, and improved airflow and ventilation. This is a far cry from what most factories offer in Cambodia currently. These built to order facilities come complete with employee accommodation, canteens and rest areas, and span over a total area covering 18 hectares, with units of up to 100,000 square meters available for lease or purchase. It is estimated to be one of the biggest – if not the biggest – eco park project for the coming years. The developers have incorporated an open and more environmentally-friendly approach by using found elements such as bamboo in its design, replacing air-conditioning with large overhead fans, utilizing more natural light with simple yet pragmatic window placements, and setting aside 30 percent of the development area for gardens and green zones. The result is that owners will spend significantly less money on electricity bills - and can allocate more funds for operations rather than utilities. In addition to its design, C.I.A.C. Investment has also made sure to address the ongoing struggle that industries face in Cambodia with electricity consumption and flooding throughout the eco park. Cambodia has been known to have particularly high electricity costs due to the fact that it imports much of its power from neighboring countries. Le Urban Eco Park will have control over its own electricity supply to meet the demands of the owners at no additional cost. So, there is no need to worry about electricity bills skyrocketing or fluctuating. Le Urban Eco Park also has a sophisticated drainage system that is deep and complex enough to control flooding that may otherwise affect the productivity of workers and the complex at large. Another reason to transfer or expand your business to Le Urban Eco Park is that you can provide low cost but high quality accommodations for your employees and managers who would otherwise be renting out basic and uninspiring flats that barely meet their needs. This is an important factor for owners, as not being able to provide employees sufficient standard of living may eventually lead to losing valued employees. Homes and residential units in this development come fully furnished so your managers don't have anything to worry about except how to improve your business. These condo units and flat house are available for sale now as investment properties; but will also be available for rent through the developer’s sale and leaseback program. Aside from that, the project is also expecting to house around 2,000 factory workers on site in quality dormitories. Your staff will also have canteens, parks, retail and recreational areas conveniently located nearby. Le Urban Eco Park Cambodia is located at National Road 3 , Kandaok, Kandal, which is just 15 minutes away from the Phnom Penh International Airport. So, quick surprise visits will be easy for owners who wish to check how operations are running while connecting flights in Phnom Penh. In conclusion - what makes this the perfect investment for factory owners? It is the developer’s unique focus on three key aspects: standard of quality, construction and efficiency. Le Urban Eco Park not only guarantees that you will get the most out of your money, but it also you save money in the long run - which you can use to further expand your business. Le Urban Eco Park will celebrate its official launch Wednesday, June 8, 2016, at Raffles Hotel Le Royal. The event is invitation only and will include HE Cham Prasidh as Special Guest Speaker and the unveiling of their Project Plan. Interested buyers may contact the sales office for tickets requests, provided there is availability. Change your industry for the better, inquire today to find out more!SEE THE FULL LISTING AND INQUIRE FOR MORE DETAILS TODAY
Serviced apartment market shows room for growth
Serviced apartment market shows room for growth
June 6, 2022, 5:04 p.m.
Realestate News
While rapid growth in Phnom Penh’s condominium market is showing signs of slowing down, one segment ripe for expansion is the serviced apartment market.As Ann Thida, senior associate director of CBRE Cambodia, said in her presentation at the Real Estate Market & Outlook Conference (REMOC) earlier this year, Phnom Penh has the largest share of serviced apartment supply. And according to the CBRE market research, occupancy rates across the entire Phnom Penh serviced apartment market currently stands at 85.8 per cent.The CBRE Cambodia Q4, 2015 report showed than an estimated 35,000 expats apply for permits to work in Cambodia each year. This compares to the supply of Phnom Penh serviced apartments which is currently at 6,494 units. This market-supply imbalance is one of the main reasons price per square meter is relatively high in the capital’s serviced apartment market, compared to comparable markets in Bangkok and Ho Chi Minh.Some monthly rental rates in the hot residential corridors of BKK and Daun Penh reach as high as $3,500 per month.“With Cambodia being classified as a high-growth country, the rising quality of living, and increase in volume of foreign talents and tourists creates demand for quality serviced residences,” said Jeremiah Lee, managing director of Singaporean-based development company, Kingsland Global. Kingsland will soon enter the serviced apartment sector in Phnom Penh with their One18 Residences project, nearing completion, on Street 118.Thida notes that on a broader spectrum across the regional market, Phnom Penh has the lowest rental rates for Grade-A serviced apartments in mainland Southeast Asia, ranging from one- to three-bedrooms.However, Sofia Perez, research and consultancy manager at Knight Frank Cambodia, says, “It doesn’t make sense to look at the serviced apartment sector in isolation, especially here in Cambodia where condominium projects can easily become serviced apartments, and vice versa.” “The biggest distinction between the condominiums and serviced apartment in Cambodia is merely a question of ownership. Both condominiums and serviced apartment units in Cambodia are available for rent, making them indistinguishable to tenants. Larger and more modern serviced apartments also tend to offer similar facilities and services as condominiums,” Perez said. “Therefore, in terms of supply of residential units for rent it will be more than sufficient – especially given the future supply spill-over of condominium units coming online within the next two to three years, which at current are approximately 20,000 units provided that all launched projects are completed on schedule.”Thida added that there is a misconception that the price will solely dictate the success of Phnom Penh serviced apartments as they come online. Perez agrees, saying, “The more important difference is between residential condo and serviced apartment developments that are setting industry standards, versus those that are missing the mark. In this regard, I would say that there is room for good quality residential developments not necessarily only in the high-end category, but across all categories."Within Phnom Penh, Tuol Kork is steadily growing and will soon need a larger supply of quality serviced apartments, suggests Thida; while Daun Penh is showing particularly high occupancy rates.Thida, nevertheless, warned developers that there are still challenges ahead for the serviced apartment market in Phnom Penh, including a lack of adequate parking space and at times poor property management.However, if developers play their cards right, Phnom Penh’s serviced apartment market could play a big role in their pursuit of success.In Thida’s words, “if you put the right property, at the right location and manage it well, the apartment will always have a good chance of success.”
Regional "Cambodia Property Show" series forges path for offshore sales
Regional "Cambodia Property Show" series forges path for offshore sales
June 6, 2022, 10:41 p.m.
Realestate News
Cooling measures and uncertainty in the Singaporean property market saw investors flock to the inaugural "Cambodian Property Show" at the Marriott hotel in Singapore last weekend. The show was another collaboration between Cambodia's leading property portal website, Realestate.com.kh, and Asia's leading property portal network, the PropertyGuru Group.The opening address from His Excellency Mr Cheth Naren, Ambassador of the Royal Embassy of Cambodia,  highlighted, "Cambodia as a country not only rich in sublime heritage sites (such as Angkor Wat) but also a country rich in natural resources and a country focused on development and improving infrastructure."Two of the leading Cambodian developers, Silvertown Metropolitan and Eastland Development, led the charge by taking the initiative to showcase the Cambodian property sector and their own projects to the 250+ attendees over both Saturday and Sunday.Presenting to a packed room of potential investors wanting to understand the local Cambodian market, included the opening address from His Excellency Cheth Naren; as well as Sam Yang, CEO of Eastland Development (HK) Ltd; Ly Senleap, CEO of FUGI Investment; Alfred Chia, CEO of SingCapital Pte Ltd; Guillaume Massin, Managing Director & Partner of DFDL Cambodia; Vic Boyle, Sales Director of Realestate.com.kh; Simon Vancliff, Investment and development director, ING Holdings; Allen Prak, Legal Advisor, P&A Asia Law Office; and Tom O’Sullivan, Director and CEO of Realestate.com.kh.Sam Yang of Eastland Development said that, “the attendance across both days at the Cambodia property show last weekend, on site sales and the 25+ Singaporeans now booked to travel and visit my development sites in Cambodia, is proof that Singaporean investors now identify Cambodia as a prosperous investment landscape."In an interview with Winston Lee, ‎Regional Head of New Projects at PropertyGuru, and Tom O’Sullivan, Director and CEO of Realestate.com.kh, O’Sullivan noted that, “the collaboration between PropertyGuru and Realestate.com.kh has allowed us to bring local Cambodian projects to the international market, and we hope that the success in sales and interest from this first "Cambodia Property Show" in Singapore encourages more developers to participate in PropertyGuru regional property shows in the future - and more Singaporean investors to seriously consider the Cambodian property market.”A Singaporean investor at the 2 day expo mentioned that, “Cambodia presents an attractive proposition as an investor, and the returns are a lot more attractive than Singapore; but also neighboring countries - for example Thailand.” He went on to say, “the development infrastructure such as improved motor ways, SEZ’s, deep sea ports and a slated rail network will only add to investor confidence in the Cambodian real estate market moving forward.”Early bird discounts are still available for the "Emerging Markets Property Show" in Singapore on the 8th and 9th of October 2016. If you are interested in attending or exhibiting your new development project visit or call Realestate.com.kh on 095911466, 069 436756 or 017 436756, or email info@realestate.com.kh.
Outward Urban Expansion of Phnom Penh, with Hoem Seiha of VTrust Appraisal
Outward Urban Expansion of Phnom Penh, with Hoem Seiha of VTrust Appraisal
June 6, 2022, 5:05 p.m.
Realestate News
Phnom Penh is now home to 2.2 million residents, with an annual growth of 3.9 percent. With this fast growth of population, the central business districts of the capital, namely Chamkarmon, Daun Penh, Tuol Kouk, and Prampir Meakkakra (a.k.a "7 Makara" in uniform name), saw a slight decrease of population due to the fact that many residents relocated to the suburbs or outskirts of the city, even though the suburbs or outskirts saw a steady increase year over year. We are seeing an outward urban expansion of Phnom Penh. First, this outward urban expansion of Phnom Penh is occurring because central business districts have been surging in land and property prices and as a result owners might have enjoyed this opportunity and sold out for a considerably high price. Then, they use the money to buy property in the outskirts where land and houses are much lower, with leftover profited amount probably used to expand businesses or save for other things. Second, since property in the central business districts are most sought after, they can rent or lease to tenants who use it for business purposes. Then these property owners relocate to the outskirts and settle down there, enjoying their rents with a good price. According to the Cambodia Economic Census 2011, on average up to 55 percent of business establishments in the four mentioned districts had rented locations there for their business operations, higher than did in Dangkao district, the less-commercial area, only about 27 percent. Third, this urban expansion of Phnom Penh may be caused by traffic pressure and rat-race in the central business districts pushing some people to relocate to the suburbs, where they can enjoy more peaceful and calm environment. Even though people have been moving out to the suburbs, central business districts are not quiet. In fact, businesses of all types have been there, patronaged by, for example, expats and working local people during the day. That is the reason we've seen people commute in large numbers from the surburbs and outskirts in the morning and leave for home after work in the evening, causing traffic jams only at the so-called 'rush hours'. Lastly, landed borey housing developments scattered throughout many of the outskirts of the capital, with a large take-up rate on pre-completion and completion, proves that the city is sprawling and the population gather pace at the suburbs to ease traffic and enjoy new communities out there. By Mr Hoem Seiha, Director of Research | VTrust Appraisal Co., Ltd
Dr. Sopon Pornchokcha: Exclusive Q & A on Cambodian Real Estate and Valuation
Dr. Sopon Pornchokcha: Exclusive Q & A on Cambodian Real Estate and Valuation
June 6, 2022, 5:06 p.m.
Realestate News
Realestate.com.kh caught up with Dr. Sopon Pornchokchai, Ph.D., D.FIABCI, CRS, MRICS, President of AREA, Bangkok, Thailand, last time he visited the Kingdom, to get his view on the Cambodian property sphere. 1) What is your real estate experience in Thailand, and in Cambodia? Tell us about your career so far.I was involved in real estate since 1982 as a lecturer, planner, researcher and valuer - but I am not a broker nor a developer, so that I can stay academically and professionally neutral. I visited Cambodia in 2000 and have conducted surveys on housing estates in Phnom Penh since 2004. I have came back on many occasions to lecture for the Cambodian Ministry of Finance as well as the Cambodian Valuers and Estate Agents Association (CVEA) since 2010. 2) Why are you so interested in the Cambodian real estate sector? Why is this such an exciting market?Cambodia is a great country where there was once a big empire with a lot of historical heritage and culture to learn. In terms of real estate, Cambodia is one of the most booming countries in the region at this moment.3) What are the current issues in the Cambodian valuation industry?Since I came to teach valuation in Cambodia, I have observed that this profession has been developed very quickly.  This comes from the great efforts of the related government agency, namely, the Ministry of Finance, as well as the leaders of the industry, namely the presidents and board members of the CVEA who have helped establish the industry very strongly with the help of the many individual companies within it.  However, good and reasonable transaction data must be disclosed in order to have reliable sources of information for valuation, transaction and taxation purposes. 4) How can these issues be resolved into the future? In your opinion.The government must enforce the proper tax and land laws. Everyone must pay tax in accordance with their real transacted value. This tax must not be levied too highly though. It could be as low as 0.1 percent. However, in the case of annual property tax, the central government must allow local authorities to tax people themselves. Meanwhile, the budget which came from indirect taxes from the Central Government must be minimized. Then a good system of taxation and a sound property database can be established. 5) Why are valuation standards so important for a sustainable real estate market?Actually, valuation standards are the same everywhere in the world. It is rooted in economic concepts and there are only very slight differences in different standards worldwide. With that in mind, don't let those more advanced countries fool us into assuming that we are substandard. The matter should be more focussed on the indemnity insurance and proper control of the practices of the professionals in our country. 6) How is the Thailand real estate market different to Cambodia?Thailand and Cambodia were very similar some 60 years ago. Cambodia was even considered the “Paris of the East.” Due to civil wars, Cambodia stopped their development. However, today, Cambodia is learning from other neighbouring countries very quickly and will be developed at the same pace with others soon. In real estate, landed shophouses are still popular in Phnom Penh (35% of the stock); whereas, condominiums are the majority of developments in Bangkok (60%). Also, Thailand has a lot more commercial properties due to the fact that people have higher purchasing power.7) How is the Thailand real estate market the same as Cambodia?The similarities between the two countries is the lifestyle and the housing preferences. We are on the same path of development, albeit Thailand sits a bit in advance. In Thailand, we are now in a rather 'dark' age where politics and economy are both slow and problematic. Whereas, Cambodia has a better political atmosphere for the future. Yet, Phnom Penh's real estate markets may reach a peak and cool down somewhat in the near future.
Sky Tree Condominium Press Conference, on Realestate.com.khTV
Sky Tree Condominium Press Conference, on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
Yesterday, J & L Property Development officially announced the launch of Sky Tree Condominium in Phnom Penh’s Russey Keo district. J & L Property Development have over 20 years of local experience in Cambodia – and are working in strategic partnership with the world-renowned constructor MCC International Corporation of Beijing, China; Urban Architecture, the most innovative and respected architecture company in the Cambodian market; Knight Frank, the renowned UK real estate consultancy firm; Century 21 Cambodia; CBRE Cambodia; Matsu Property of Taiwan; &, of course, Realestate.com.kh, the premiere real estate search website and media agency in Cambodia.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM Guests of honor included Mr. Scott Wu, General Manager of J & L Property Development Co. Ltd, Mr Chen Shaochun, President of MCC International Corporation Ltd., and Mr. Sun Qingdong, Vice President of MCC International Corporation Ltd. As Mr Scott Wu, General Manager of J & L Property Development, said at yesterdays conference, "J & L Property Development is the main facilitator and owner of the Sky Tree Condominium project, bringing in world re-known and highly respected specialized partners in developing, planning, constructing, managing the various stages from start to completion, launching of project in accordance with the needs and means of the country, international standards and in a timely manner. J & L has a vision to help Cambodia to bring the country's image into the world property markets, and to do so is creating a world class product by collaborating with renowned partners." J&L wish to make affordability of owning a condo, as a prime objective, by lowering prices as much as possible, suited to the local demand and financial means, but meanwhile maintaining a high quality finished condo product. J & L will provide a "one-stop" solution by bringing a foreign bank into the partnership to provide "hassle- free" housing loan directly to the buyers and investors of units at SKY TREE project. Local and International buyers are only required to pay an initial deposit of 10% of the total purchase price. This is affordable for local buyers. Buyers then have access to finance for the rest of the payment, with 40 months of interest free finance to pay the balance 20% of the purchase price, then 70% bank loan available for all buyers for the remaining balance, with up to 15 years repayment. Sky Tree Condominium units start from just $89,440 NET. J & L’s founder, Mr. Simon, had a wish to create a healthy lifestyle for those living in the city of Phnom Penh, by introducing high technology based parts and materials imported from overseas, such as eco-friendly materials, air-tight window frames, tinted window glass frames, green features and nature built within the development.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM J & L Property Development wish to be a "catalyst" in quickly developing Phnom Penh into the world market for property investment; and is approaching major players in key markets in order to combine their regional expertise and expose the Phnom Penh market to their huge networks. J & L wants to ensure the safety and well being of the buyers and investors for the life of the development, and as such have partnered with one of the TOP construction companies in the world - MCC International Corporation from Beijing. The C.E.O and family will also be staying and living in the condo upon completion. Construction has already begun at the Russey Keo Site. Mr Sun Qingdong, Vice President of MCC International Corporation LTD, stated that "MCC ranked 326th among the world’s Fortune 500 companies and 10th in Engineering News-Record’s Global Top 225 Contractors. At MCCI, we specialize in designing and building the strongest portfolio of engineering feats around the world. MCCI has branches, subsidiaries and representative offices in Southeast Asia, Middle East, Africa, South America, etc. MCCI is proud to offer engineering, construction and overall strategic support for J & L Property Development Co. Ltd. Cambodia’s current and future projects." With the strategic support of MCCI Corporation, construction has already started at the site in Russey Keo, Phnom Penh - long before the sale’s launch. Phase 1 will be completed by 2019, ready for handover to buyers. Mr. Melvin Baroga, Head of Design Department, Urban Architecture Co., Ltd, stated that "the design of Skytree Condominium is based on a strong desire to create an architectural impression that exemplifies grandeur. Pronounced perpendicular lines that extends from the podium up to the roof communicates a feeling of superiority from the surrounding buildings. Combination of horizontal and vertical design elements are used to communicate solidity. It creates rectilinear forms that suggests stability and permanence." "Residents can enjoy lounging by the swimming pool surrounded with greeneries or relaxing at the SPA and massage room. A mini-rainforest adjacent to the pool area is provided for those who wants to be immersed in the nature experience that Skytree has to offer. The spacious sky park on the connected roof decks is an ideal place for fitness and exercise. It offers a central space for residents to gather in the evenings," said Mr. Baroga. Although this is J & L’s first Cambodian project, it will be the start of many more to come.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM
Knight Frank Asia Pacific Prime Office Rental Index 2016
Knight Frank Asia Pacific Prime Office Rental Index 2016
June 6, 2022, 5:06 p.m.
Special Reports
Realestate News
The Asia Pacific region is the place to be in right now if prime office property and rental growth is what you’re searching for. This is what one of the leading global property consultancy firms, Knight Frank, suggests in their Asia Pacific Prime Office Rental Index 2016 report. According to the firm’s thorough research, the Asia Pacific region has seen a combination of significant progress and constant stability in the first quarter of 2016. This is despite some prominent cities experiencing troubles and slowly slipping down the index.   In the Multi-sector Snapshot Q1 2016 report of Cushman & Wakefield, it is stated that in Beijing, “new supply in core markets elevated the overall vacancy rate, while rents remained stable.” While that may be true, Knight Frank’s data provides insight as to a projected decrease in rental returns and rent prices for the rest of the year for the city. Knight Frank’s report continues to explain that “in the first quarter of 2016, robust leasing demand from domestic firms in the finance and technology sectors drove net absorption to outstrip new supply in Beijing, arresting the downward trend in rents.” Also among the cities that saw a downward rental trend are Jakarta, Perth and Kuala Lumpur; where an expected increase in supply has forced property owners to reduce rent prices, further decreasing rental returns for their properties. This, however, did not slow down or do significant damage to the Asia Pacific Prime Office Rental Index. As the average vacancy decreased by 0.2 percentage points, the index grew by 1 percent in the first quarter and accelerated from 0.2 percent in the previous quarter. The highest contributor to this growth is probably Tokyo which showed the highest 3-month percentage increase of 3.4 percent, followed by Seoul at 2.6 percent where both cities show a projected increase for the next 12 months. As Head of Research for Knight Frank Asia Pacific, Nicholas Holt, puts it, “despite our longer term forecasts suggesting we are nearer to the top of the rental cycle in many markets, the next 12 months will see further rental growth in the majority of markets tracked as tight supply and steady demand prevails.” This growth is expected to be seen across 14 out of 19 cities which include Melbourne, Sydney, Shanghai, Hong Kong, Bengaluru, Mumbai, Taipei and Bangkok. "In Southeast Asia, Phnom Penh saw rents remain stable even as a surge in demand drove down the vacancy rate by 10.0 percentage points. With landlords vying to secure tenants as Hongkong Land’s Exchange Square nears completion, this trend is expected to continue." Considering that there are still many factors like government policy changes that may affect this continuous growth, Knight Frank is confident that prime office rental will remain to have stability at the very least. Holt explains, “While the macro-economic story across the region remains uncertain, office markets have tended to see rents hold up fairly well over recent months.” Recent years have showcased both extremes in terms of economic growth and the property market. It’s had its fair share of ups and downs, but as it continues to rise, it will really be an interesting and exciting time for the Asia Pacific region as it learns to nurture and cultivate its potential through proper investments.SEE KNIGHT FRANK CAMBODIA'S PROPERTY NOW
Interior Design opening doors for young Khmer business people
Interior Design opening doors for young Khmer business people
June 7, 2022, 4:32 a.m.
Realestate News
Year after year, the standard living for locals in Cambodia, and in particular Phnom Penh, is increasing. New types of property are changing Cambodian lifestyles; such as new standards of commercial buildings, office towers and co-working spaces, supermarkets, malls, entertainment venues, and modern residential developments. These structures offer proof of an increasingly modern lifestyle being adopted by the people of Cambodia.As this standard of lifestyle rises, increasingly Cambodian property buyers are demonstrating increasing demand for properties of a high standard and high quality. Accordingly, the business competition between property developers and designers in the nation is rising fast.These days we can also see more youth in Cambodia fresh out of school joining the business sector, bringing with them ambition, innovation, and a high level of commitment to their personal and business success.One such business sector being joined by more and more young entrepreneurs is interior design, as the demand for such services grows year on year.Starting a small business in the interior design industry is particularly attractive to the young-business sector in Cambodia because entering the market comes with very little risk, compared to some other professions.A young designer can easily catch a contract for the redesign of a restaurant, entertainment venue or home without a large portfolio of projects under their name and without the need for a lot of start up capital. Assisting them also is the growing popularity of the interior design sector across Cambodia.25 year old, Mavaly Chhoeum, senior staff from Studio INT in Phnom Penh, says that, “most of our interior design and construction projects are venues such as boutique clothes shops, restaurants, spas and many more places like this. Clients usually likes the contemporary concepts, and a try to make their spaces a bit more modern.”She added that, “interior design is highly demanded in the Cambodian market these days and competition is getting tough. It is important to travel to learn new things as much as you can, and always be creative and not a copycat.”“Interior design business and construction is more and more popular in Cambodia” said 29 Heang Venvitou, co-owner of Sathapanak Design and Construction.Interior design projects involve managing the creation of unique, attractive and livable spaces inside buildings. The design might follow trends of local taste or import standards of modern lifestyle through design from other countries around the world. Functionality must always be considered too.A good interior designer will leave their signature on the place that they remodel.Now Sathapanak has a collection of projects in hand, such as: boutique clothing store AXARA, Kobe Restaurant, a Spa, Bank, villa, and condo. For the materials that they use, they generally import from Thailand, Vietnam and some material from local.Interior design is driven by a passion to create something new; and given this aim, young Khmer business people with fresh ideas are perfectly suited to catch the market share in this business sector.Before Cambodia needed to import human resources in interior design from other countries, especially neighboring countries of Vietnam and Thailand – but now young interior designers are demonstrating that this is a local industry of great worth and reliability, and one with many opportunities.Find the best real estate news on Realestate.com.khlook for real estate for rent in Phnom Penh or real estate for sale in Phnom Penh? Check out Realestate.com.kh today.