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Realestate News

Cambodia Infrastructural Projects that are Fast-tracking the ASEAN Hub
Cambodia Infrastructural Projects that are Fast-tracking the ASEAN Hub
June 6, 2022, 5:06 p.m.
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Realestate News
In their abstract for a paper entitled “Infrastructure Development and Real Estate Values in Meru County, Kenya”, authors Mbaya Murungi and James Gatauwa describe infrastructure as an element that directly affects property value. The ease, convenience, and accessibility these infrastructural developments bring plays a key factor in how properties are sold, anywhere in the world.If this relationship is true, then this should predestine Cambodia’s future real estate growth and can suggest an increasingly positive outlook for buyers getting in the market now. As investors flock towards the nation and its growing economy, newer infrastructures also continue to quite-literally rise from the ground to help both sides of the economic spectrum, the wealthy international investor and the local populous. And while these new amenities will add costs for both purchasers and renters, it will also provide ease and comfort for people moving into different regions of the country.  Phnom Penh International Airport Expansion:Property Report, in their recent article, states their case in showing the correlation between airports and rising real estate prices. They mention a growing interest by wealthy investors with properties located nearby international bound airports, thereby increasing sales of prime developments in the area.As such, a $23 million expansion of the Phnom Penh International Airport by a Malaysian company in 2015 drew an enthusiastic reaction as it was expected to bring in more tourists and more wealthy investors. This was however short-lived as the announcement that the project was halted began to make its rounds, along with news of demonstrations that were being held by neighboring residents of the PPIA. In response to this, soon came news from the Senior Government Minister regarding plans for a totally new airport near the city outskirts. If the plans push through, the government’s target date of completion would be 2025. With this new airport, the government also seems to be considering mass transportation systems upgrades to fast track those travelling to and from the airport into the city.In line with this, new types of multiple entry tourist and business visas are set to come into effect on September 1 2016, easing entry requirements greatly for regional investors and retirees.Completion of Railway to Poipet:Hosting a Thai-Cambodian border in its area, Poipet has long been a transition town where cargo and travelers pass. But delays in this small gateway town have traditionally plagued logistics and trade inefficiencies.One solution that has been put forward and is now nearly within reach is a new railway system that will connect Phnom Penh and Poipet. This new system is expected to allow much more direct access to Bangkok from Phnom Penh and vice versa. With only 6 more kilometers of tracks needed, completion is expected at the end of 2016.In addition to this, Sihanoukville is also expected to experience a boost of trade and tourism through the reopening of the passenger railways that connect it to Phnom Penh.Sihanoukville Port Development: Other than the over-arching improvements currently being implemented in the humble beach town of Sihanoukville, a great deal of work has also been put into the expansion of its port area.Having the only deep sea port in the country, particular emphasis has been made to ensure that it is able to accommodate sufficient trade and transactions. The expansion and functionality upgrades throughout the years has brought many business owners huge benefits and is the overriding factor that is drawing new foreign direct investment into the province. The Sihanoukville Port Multi-purpose Terminal Development project alone, which Japan has helped fund, will cost around $75 million and is estimated to be completed by the end of 2017. The end goal for Sihanoukville Port is that full size cargo vessels will be able to port at Sihanoukville, making long haul import and export around the world less costly and faster. Currently, Sihanoukville can only harbor feeder vessels that would then need to travel to ports such as Hong Kong, Singapore and other regional post in order to transfer containers onto the larger long haul vessels. In the future, full size haulers will be able to travel direct to worldwide destinations.Roads and Transport:With the growing population of Cambodia and particularly Phnom Penh, accessibility and traffic definitely play a big role in the values of residential and commercial properties.So, news of Japan donating 140 new buses, valued at over $10 million, was received well by the Phnom Penh working class. These units are expected to service the citizens much more efficiently by 2020 as bus lines are set to continue to increase yearly. Currently there are 10 lines across Phnom Penh. The regional road systems of Cambodia are also expected to experience changes in the next few years. China – through the firm Henan Provincial Communications Planning, Survey, and Design Institute – will develop an expressway along National Road 4 (Phnom Penh to Sihanoukville) after the go signal was given for the China Road and Bridge Corporation to push through with a proposed highway project recently.This comes at a time when Sihanoukville is under a period of growth and developmental changes; and, as anyone that has travelled to the beach town by road will know, a wider, direct highway will benefit this growth hugely.In addition to this, National Road 5 is also expected to strengthen the efficiency of trade with Thailand through a recent grant from Japan.Learn more about Cambodia in our extensive location profiles!
Sokha Phnom Penh Residence, Premier Option for Short or Long Time Stay
Sokha Phnom Penh Residence, Premier Option for Short or Long Time Stay
June 7, 2022, 3:59 a.m.
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Realestate News
Cambodia is fast becoming a world-leading destination for tourists who want to experience a new frontier on the global tourism stage. And why not? Cambodia has a rich and diverse cultural history; it is full of natural wonders and untouched beaches; and as the Kingdom’s economy grows, Cambodia is offering travelers more and more luxury options to make their stay even more special. In fact, according to TripAdvisor.com’s “Travelers Choice Awards 2015”Cambodia was the 2nd most popular tourism destination in the world.As of 2016, Cambodia has about 500 hotels of note, but only around 30 of these hotels have 100 or more rooms - and just six or seven of these venues offer international standards of hospitality services and execution. In this domain, the SOKHA Group is leading the way across the nation... SOKHA Group has a wealth of experience in tourism and hospitality in Cambodia, with their network of 5 star offerings across the Kingdom: Sokha Beach Resort – Sihanouk Ville; Sokha Angkor Resort - Siem Reap; Thansor Bokor Highland Resort – Kampot; Sokha Phnom Penh Hotel & Residence - Chroy Changvar Peninsular, Phnom Penh and Sokha Siem Reap Resort & Convention that going to open in mid of September 2016. Sokha Phnom Penh Hotel & Residence is the premier luxury residential experience in Cambodia’s Capital city. Whether you want to stay 2 days or 2 years, by selecting Sokha, you are guaranteed the best that Cambodia has to offer every day. Sokha Phnom Penh Hotel & Residence, which completed construction in 2015, consists of 18 floors with 549 units of hotel rooms and 195 units of residential suites (service apartments). Rising high above the shores of the Mekong and Bassac rivers, Sokha Phnom Penh Hotel & Residence is host to the most prestigious luxury living standard, events, business conferences or expos, and a popular choice for fine dining among the local elite.Sokha Phnom Penh Hotel & Residence offers unmatched views of the Mekong River and famous Royal Palace, and a quality of environment impossible to find in the popular inner-city districts. For those who are looking for working stays at the Sokha Phnom Penh Hotel & Residence, you are just minutes from the central business district of the city. Other perks for business guests include a meeting room for international conferences, high speed internet access and taxi services to and from the central city. All 195 residential units have classy polished timber floors and all amenities for your convenience included. The Bassac Suites (52 sqm/560 sqf) are exclusively designed as studio suites, fit for a quiet and relaxing stay. The Tonle Sap Suite (90 sqm/969 sqf) is a 1 bedroom suite with additional space, combining comfort, privacy and a place to call home. The Mekong Suite (104 sqm/1,119 sqf) has 2 bedrooms with highly customized and graceful furniture included, a premium choice of luxury living for both family and long stay business travelers. The suites feature distinctive, breathtaking views of the Great Mekong, Tonle Sap and panoramic view of Phnom Penh. Like swimming? At Sokha Phnom Penh Hotel & Residence you can get your fitness fix, with a huge 1,650 sqm/17,760 sqf outdoor swimming pool. Residents are able to access to gym, the luxurious healthy spa, steam, sauna, and jacuzzi. A comfort package is also available for residents with complimentary electricity and huge underground parking lots. Each room is connected with wireless internet access, fully furnished with full-sized fridge, washing/drying machine, modern kitchen full-equipped appliances, and multi-channel 47 inch LCD TV at the separate living room and dining area.Residents can also get complimentary usage of the hotel Business Centre at the lobby and the BBQ Pavilion Space on Surkea Rooftop (Open Space for Dining /Party /Landscape Deck). And enjoy the international restaurants that serves food from around the world (Chinese, Japanese, Asian, Western, Italian…). Like to party after work? The Wave Club on 19th Floor and Stardust Karaoke below the hotel is ready for you, any time from noon. With 5 star hospitality service, round-the-clock security surveillance, 24 hours room service, housekeeping, linen (bedding and toweling) and daily shuttle bus service from the hotel to Aeon Shopping Mall, guests are able to relax and enjoy with their stay while the Sokha staff take care of almost everything. Of course, the concierge services are ready to help with any need you might have, day or night.Find out more about Sokha Phnom Penh Hotel & Residence and make your stay in Phnom Penh unforgettable!
Influence of Negative Interest Rates on Cambodian property, Alfred Chia on Realestate.com.khTV
Influence of Negative Interest Rates on Cambodian property, Alfred Chia on Realestate.com.khTV
June 7, 2022, 4:12 a.m.
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Realestate News
Cambodia has seen a significant rise in its economic value throughout the past decade, but there is a potential threat that it has to watch out for. Negative interest rates are looming to enter Asian countries and are slowly creeping in from the European and Japanese economic policies and implementations from central banks.  This, Sing Capital’s Chief Executive Officer Alfred Chia, explains is a concept taken from the Swiss government when it was fending off a crisis back in 1970. This was a statement he made during the Inaugural Cambodia Property Show held in Singapore this year.What is a Negative Interest Rate?Negative would seem like an odd usage when used in combination with the term “interest rate.” But this has been a concept embraced by countries whose economies are coming into a desperate state. Chia explains the concept as something that goes against what we’ve been taught. Whereas banks are supposed to pay us an interest when we decide to put a deposit, the concept of negative interest rates works the other way around. Banks actually charge you the interest for putting money in their care.This should come as no surprise, but it is definitely an “unconventional” concept, according to Chia. Probably something that we usually take for granted is that banks are still business entities and still have to earn.Why are more countries adopting Negative Interest Rates?He continues to state that there are five main factors affecting why more and more countries are slowly adopting this unusual concept. These factors are Global GDP, China-economy affects, oil & commodities, currency, and interest rates; and these are all interconnected.Since there is a downturn in the global economy right now, we find that countries like China are slowly experiencing the effects through the apparitions of its ghost towns which were once vibrant communities for industrial workers and their families. Having said this, we also see the appreciation and depreciation of major currencies like the US dollar which serves as Cambodia’s main currency.How might this affect Cambodia?What will most likely affect the growth of Cambodia is either the strengthening or weakening of the US dollar, and the Chinese business behavior during this time since the Chinese are also one of the major investors in Cambodia.Though perceived to be signs of a struggle, the aim of negative interest rates is to force banks, businesses and individuals to be creative with how they can make their money grow. Banks seem to have found a means through lending out.And, according to Chia, banks have seemed to found a sort of reprieve through the property market. He uses Japan as an example where its people are able to loan up to 100 percent of the property value at just a 1 percent per annum interest rate. With proper valuation, lending out lessens the risk for them because even if the loan is not paid back, they still have the property itself to fall back on.Should this concept apply for Cambodia, banks may actually be able to profit more due to the booming real estate industry.Learn more about the Cambodia investment climate!
Tuol Kork, Sen Sok Market Review H1 2016
Tuol Kork, Sen Sok Market Review H1 2016
June 6, 2022, 5:05 p.m.
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Special Reports
Realestate News
Market SummarySen Sok district (Khan in Khmer) has experienced a rapid growth, especially in term of residential, commercial, and infrastructure developments. Thus, land prices in the whole district increased markedly within the last couple of years. By the end of 2013, average market price of land in Sen Sok was US$380 per sqm. In the first half of 2016, average market price in the district rose to US$690 per sqm, with average growth of 27 percent y-o-y from 2013 to 2015. Nevertheless, land market prices across Sen Sok district have stagnated since the beginning of 2016, making Q1-to-Q2 2016 list price ratio to drop to 99 percent, though minimally, as property sellers were testing the market at which a reasonable market price should be met.Tuol Kouk district, on the other hand, experienced a slight rise in land price within the same period, from average market price of US$2,150 per sqm in 2013 to US$ 2,530 per sqm in early 2016, growing at 6 percent y-o-y within the tracked period. However, across Tuol Kouk district, Q1-to-Q2 2016 list price ratio dropped to 99 percent due to real estate market stagnancy since the start of this year.In sum, these two districts both of which lie northwest of the central Phnom Penh have enjoyed a rapid growth in term of residential and commercial developments. The suburban Sen Sok district, for example, has witnessed a noticeable pace of developments, especially mixed-use landed housing and infrastructure, which gives rise to a change in the skyline and rapid surge in land prices over the course of the previous three years. This growth will continue its pace as developers foresee market optimism over the next coming years.Land Market PricingTuol Kouk DistrictOver the last preceding decade, Northern fringes of Tuol Kouk district was the first main destination for residential relocation because of its available large portions of vacant land and a neighborhood of the central parts of the capital.  Land prices across the district, therefore, started to surge ever since. In 2005, average market price across the district was about US$1,100 per sqm, with a threshold of US$450 per sqm along secondary streets to US$1,900 per sqm along primary streetsEarly this year, average land market price across Toul Kouk rose to US$2,530 per sqm, while some of the prime commercial streets could fetch a market price as high as US$5,750 per sqm. Over a decade, average growth rate of land prices in the district was about 10 percent y-o-y, and during the last three years the growth was about 6 percent.Remarkable land price surge was seen in Boeng Kak Ti Muoy and Boeng Kak Ti Pir, both of which are Tuol Kouk’s northern communes adjacent to emerging Phnom Penh Thmey of Sen Sok and densely-populated Tuol Sangkae of Ruessei Kaev district. The former grew at 17 percent y-o-y within the period from 2013 to 2015, and the latter, 13 percent. The two communes’ higher growth in land market prices, if compared to that of other communes in Tuol Kouk, was pushed by two key factors. First, because of their relatively small market price base (from a minimum of US$650 per sqm in the last three years), a small price jump could see an enormous growth in y-o-y rate. Second, their attractive, emerging locations have been ideal for residential towns, high-rise developments, and commercial establishments, all of which pushed market demand to rise. As a result, buyers were willing to accept the offers and through this, the market prices started to increase relatively more quickly over the last three years.On the other hand, many parts of the Tuol Kouk seemed almost to reach their price caps, as many available development and establishment opportunities have now appeared elsewhere throughout many of the peripheral parts of the district and its neighborhoods, offering much lower prices and promising opportunities. Such parts almost reaching land price caps are Phsar Depou, as high as US$5,750 per sqm and Tuek L’ak, as high as US$5,200 per sqm.Sen Sok DistrictOver the previous three years, property market prices across Sen Sok witnessed a double digit growth, with 27% y-o-y from 2013 to 2015. Back to 2013, average land price across the district was US$380 per sqm, and it grew to US$690 per sqm in the first half 2016.Khmuonh, one of the four fastest growing communes (sangkat in Khmer) of Sen Sok district, enjoyed a relative quick pace of residential town (such as Grand Phnom Penh International) and infrastructure developments, with main streets such as Hanoi (St. 1019) almost finished this year and Tumnup Kop Srov Road (the capital’s ring road) due to completion sometime soon. As a result, average growth for land price in Khnuonh commune was 35 percent y-o-y, from US$230 per sqm in 2013 to US$480 per sqm in the first half of 2016, with market prices along main streets ranging from US$300 per sqm to US$710 per sqm.Krang Thnong, adjacent to Phnom Penh Thmey commune and a quick access to the prominent Russian Boulevard, also witnessed a double-digit growth in land prices, with an average of 29 percent y-o-y, from an average of US$110 per sqm in 2013 to US$210 per sqm in the first half of 2016 across the commune. The enormous growth in land prices was driven mainly by residential potentials thanks to many available parcels of vacant land, including residential plot land movements and ongoing town development such as Borey Maha Sen Sok by Japanese developer Creed Group.Phnom Penh Thmey, adjacent to Boeng Kak Ti Muoy and Boeng Kak Ti Pir, the two prominent communes among 10 of Tuol Kouk district, also experienced a double-digit growth, having stood high thanks to its development potentials and strategic market position where several remarkable development projects such as borey New World (La Sen Sok), second project of AEON Mall, and borey Chip Mong Land, to name a few, have already been pinned up on the map. Thus, land prices grew at average 19 percent y-o-y within 2013-2015 period, from an average of US$530 per sqm in 2013 to US$830 per sqm in the first half of 2016. Remarkable potentials in Phnom Penh Thmey commune have been also seen after the completion of main infrastructure, for example, Oknha Mong Reththy and Hanoi Street.Market Performance Tuol Kouk DistrictA central zone of the capital, Tuol Kouk district has experienced a tremendous change in its skyline and infrastructure, which led to an increase of property demand as well as prices across the district over the last three years. Yet, average SP-to-LP ratio across property market in Tuol Kouk was 95 percent in 2015, while average original-to-last list price ratio dropped slightly to 99 percent Q1-on-Q2 2016.Low pricing ratios were noticeable in Phsar Depou Ti Muoy commune, where SP-to-LP ratio went down to 90 percent, lower than those in any other communes across Tuol Kouk district. The low pricing ratios in the two communes could be dragged down by the disruption of Techno Flyover construction process that affected on profitability of prime business spots along Russian Boulevard and its surroundings, thus resulting in less-commercial options for buyers to seriously consider the properties over there.Sen Sok DistrictDespite enjoying a significant growth in most parts of the districts over the course of the previous three years, Sen Sok’s property market heat has been slightly cooled down since early 2016 due to overall slowdown in property transactions. Given that average sale-to-list price ratio (SP-to-LP) was 93 percent in 2015, average achieved sale rate across the district was 7 percent below the original list prices, although H1-on-H2 2015 list price ratio (LP) rose to 101 percent. However, during the first half of 2016, average original-to-last list price ratio was 99 percent Q1-on-Q2.The fact that pricing ratios, typically sale price, went down to 93 percent across property market in Sen Sok district means there were many available properties, especially numerous unoccupied homes and vacant parcels of land, and therefore buyers have more power to negotiate for a lower price. Nevertheless, that average original-to-last list price ratio went down to 99 percent was a sign that many of sellers were adapting their asking prices to cope with less aggressive market demand during the first half of 2016.Outlooks and TrendsWith an organic trend of relocation from the central city to suburban and peripheral areas of the capital in a bid to cope with rapid land price growth, accelerating traffic pressure, and increasingly overcrowded city dwellers, a number of people have started to move out to several suburban parts where they form new towns and communities, remarkably since the five years, and Sen Sok district is no exception.Major development trends have been noticeable across Sen Sok, especially its Phnom Penh Thmey commune, which is situated northwest of its neighboring Boeng Kak Ti Muoy and Boeng Kak Ti Pir of Tuol Kouk district. Today, throughout many parts of Phnom Penh Thmey are situated many of finished housing projects such as (1) two of Borey Peng Hout projects the Star Emerald and the Star Quarteria, all of which are along Oknha Mong Reththy Street (1928 St.), (2) two of Borey New World projects, one of which is located a hundred meters off Mong Reththy Street and another is on Oknha Try Heng Street (2011 St.).Another ongoing Borey New World (La Sen Sok) on Oknha Mong Reththy Street has been almost finished, whereas only its community shopping mall remains under construction. Further, Borey Park Land (Sen Sok) along the same street is due to completion sometime next year.More importantly, the second project of AEON Mall by Japanese developers has been pinned on the map in the most promising zone, immediately adjacent to Borey New World (La Sen Sok) and less than 800-meter-radius ring of Camko City (southeast), Borey Angkor Phnom Penh (north), Borey Park Land (southwest), and Borey Peng Huot (south). These factors have brought about more demand for the area, including housing unitsand parcels of land, thus pushing prices to hike rapidly.Phnom Penh Thmey is a popular location for buying a first home,being voted by 20 percent of the surveyed prospective buyers (conducted by VTrust Appraisal), ahead of other areas such asChrouy Changva (16 percent), Stueng Meanchey (11 percent),Toul Kouk (11 percent), unspecified areas (17 percent), and otherareas combined (25 percent).This research report was a production of V Trust Appraisal.
Phnom Penh Riverside Lifestyle, with Anthony Galliano on Realestate.com.khTV
Phnom Penh Riverside Lifestyle, with Anthony Galliano on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
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Realestate News
Phnom Penh is a relatively small area that is marked with varying subcultures. This is one of the things that gives the capital city its unique spirit and dynamic lifestyle.And according to Chairman of Cambodian Investment Management, Anthony Galliano, the merging of ideologies, structures, and tradition is best observed through the properties along the Phnom Penh Riverside.There are a number of things you can see and do in this area, and Galliano lists a few of them during his recent interview on Realestate.com.khTV.Stunning Scenery:Imagine the reflection of the sun in the river as it sets, all the little boats just passing by your view from the window. That is exactly the picture Galliano paints for the Riverside area.Living here means that you will be able to bask in the rays of the golden sun and just absorb all the beautiful sights around you - which includes the rivers of Mekong, Tonle Sap, and Bassac rivers. You can also see diverse architecture and a landscape that had been influenced by different time periods.But wherever in the Riverside area you go, you are guaranteed to see something eye-catching.Festive Occasions:People say that you can tell a lot about a place and its people through the types of festivals they celebrate. And Phnom Penh’s Riverside surely does not have a shortage of festivities.Galliano explains that you have a pretty good vantage point you can utilize if you live in the area because you’re right in the middle of all the celebrations. But probably one of the best festivals in Cambodia you will be able to attend is the Water and Moon Festival, otherwise known as Bonn Om Touk, which ushers in and welcomes the fishing season. During this time, you can also opt to watch the annual boat race which is the festival’s main attraction.Convenient Location:The Phnom Penh Riverside area is conveniently located near the central business district of the capital city. This makes it relatively easy for workers and even families to move around Phnom Penh without having to worry about the increasingly congested traffic situation there. It is also close to facilities such as hospitals, schools, and grocery stores. Residents can testify that once you move into this part of Cambodia, there is little that you need to ask for. Everything you might need is there.Scrumptious Food:Because this area is also home to a growing number of expatriates, there are also plenty of restaurants to serve dishes which originated or are derived from Germany, Italy, France, Canada, America, Korea, China, Japan, and even Australia. So, choosing food will no longer be a problem as there is a wide range available.  The Phnom Penh Riverside area is definitely one of the best places to live in Phnom Penh. Having been well-developed throughout the years, you’re assured all you need to live comfortably here alone or with your family. Learn more about the perks of living Phnom Penh Riverside in another in depth Realestate.com .khTV report!
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With Japanese-quality ensured, Borey Maha Sensok phase 1 already 80% sold!
With Japanese-quality ensured, Borey Maha Sensok phase 1 already 80% sold!
June 6, 2022, 5:05 p.m.
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Property Reviews
Realestate News
Recently, Borey Maha Sensok, the biggest landed housing development by a Japanese company in Cambodia, has received massive interest from local customers.Only 4 months after soft launch, Borey Maha Sensok has been sold out around 80% for its first phase. This sales success is due to the affordable prices, starting from $49,500 per unit, flexible payment terms and home loan/financing options. Presently, the project is under construction, along with road construction and sewerage facilities development.This latest project of the Creed Group, Borey Maha Sensok, is located just 3km from the Phnom Penh International Airport, in Krang Thnong District, Sen Sok Commune, a fast developing area near the upcoming Lion Mall project and AEON Mall 2.Borey Maha Sensok covers a total area of 120,684 square meters and consists of 683 units, including one floor flats (E0), two floors flats (E0E1), and land lots for villas. Common amenities include solar power street lights throughout, beautiful flower gardens and landscaping, a children’s playground, and an exterior gym. Japanese elements are brought into the design also, such as a foot massage path and tree trunk path, and a full equipped garden cabana.According to Mrs. Cheng Sokha, assistant to the Sales and Marketing Director at Creed Group, the project has had high interest from clients because of the trust for the development company: “our project offers concise and fully legal documents for buyers, and the construction quality is strictly controlled by Japanese engineers.”Borey Maha Sensok is the second project of the Japanese investor, Creed group, who has already invested in Cambodia with their first project, Bodaiju Residences, located on Russian Boulevard in front of the Phnom Penh International Airport. Creed Group’s main office is in Japan and has been investing in projects throughout Asia, including Cambodia, Vietnam, Bangladesh, Malaysia, Japan and Singapore.Looking for a new landed borey home? See the full listing for BOREY MAHA SENSOK now!Or want to buy a modern condo? See the full listing for BODAIJU now!
Emerald HUB Office and Coworking Space, on Realestate.com.khTV
Emerald HUB Office and Coworking Space, on Realestate.com.khTV
June 6, 2022, 5:05 p.m.
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Realestate News
The office space sector has seen rapid growth during the first half of the year and is expected to focus more on prime properties in its second half. This is according to a report that was recently released by Knight Frank.But even with high quality offices continuing to change Cambodia’s landscape, it offers few opportunities for entrepreneurs and startups to find a space that will allow them to go beyond its full potential.This is something that the Emerald HUB aims to address.In an interview with Ms. Sou Monypich, she mentions that as part of the Emerald+ Property Management Services’ desire to pursue social responsibility, the Emerald HUB Co-working office space was built.Emerald Hub is designed to create an atmosphere conducive to creating up and coming game changers in the different sectors of the local economy. Based in the capital city of Phnom Penh, the Emerald Hub provides entrepreneurs access to not only an office but also facilities like meeting rooms, air-conditioning, Wi-Fi, printing services, a pantry, and all that anyone starting out in business would ever need.Beyond the Typical:Deciding to take a piece of the creative culture in Emerald HUB also guarantees that you will get more than just an office. Ms. Monypich says that their end goal is to provide the necessary support to help any entrepreneurial venture take flight.This means that there is a collaborative effort between you and their mentors on product development, creative design, financial management, and sales & marketing. They also offer trainings and different fun activities for people who call Emerald Hub their business home.More than all these benefits, it is also a place where you can meet like-minded people who are willing to network to create better business concepts that will make a huge impact on the way we currently look at doing business.Ms. Monypich says Emerald Hub allows “a space with a lot of people from different backgrounds, from different expertise, and for them to exchange the information.”Size and Time Doesn’t Matter:Ms. Monypich explains that more than a co-working space, they also offer private rooms which corresponds to around “8 or 9 square meters per room.” These rooms can be rented out by startups who need a more secure and enclosed space for them to be able to focus on specific tasks. Nevertheless, they are still able to mingle with fellow business people through the common areas of the property.She adds that you can rent out these spaces for as low as $30 a month. But if you only need a temporary work space, they also allow you to rent out an area on a per day or per week basis. These terms offer a more flexible and convenient way for both individual entrepreneurs and the small startup companies.If you have questions or want to find out more about how you can use this space to grow your business, you can contact Emerald+ today!
Cambodia Property Myths debunked, Simon Vancliff on Realestate.com.khTV
Cambodia Property Myths debunked, Simon Vancliff on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
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Realestate News
The perception of foreign nationals towards Cambodia often seems to have grown old like the ruins of Angkor. In fact, there is more to the country than temples...There is an understanding among some international investors and businesses that the country is still underdeveloped and poorly regulated. This is a myth Dr. Simon Vancliff, Investment & Development Director of ING Holdings, the developer behind ING City, has debunked during the recent inaugural Cambodia Property Show organized by the leading real estate portals of Singapore and Cambodia, PropertyGuru and Realestate.com.kh.Vancliff explains that this is far from the truth. In fact, there are large economic zones and developments coming to Cambodia, and this is increasing every year. In fact, just this year, Coca-Cola has decided to invest $100 million into the Phnom Penh Special Economic Zone in order for them to be able to build a plant and expand their distribution inside the country and region, as according to the Phnom Penh Post last April.Large business entities have also established ties with the country such as Akira, Toyota, Samsung, ICBC, BMW and Suzuki, just to name a few. These companies, Vancliff says, recognize not only the inexpensive labor they are able to harness, but also the political stability of the land and its foreign-investment-friendly environment.He also enumerates other reasons why investing in Cambodia is ideal. Other than political stability, Cambodia has an advantageous location in the region, favorable investment climate, largely dollarized economy, increasing trade integration, improving transport and connectivity, lower costs in telecoms and internet, untapped natural resources and land, underpenetrated and growing domestic consumer markets, an unleveraged financial position, stock exchange and a flexible financial market. Furthermore, since the population is in the bracket of the working-age population, the demographics are also well suited for investment.Vancliff mentions that the Cambodian stock exchange will have around ten to twelve more companies joining soon and will continue to grow. He further strengthens his case by stating that Cambodia is now truly the “Pearl of Asia”, having a more centralized Governance system, and is raking in huge investments for infrastructural upgrades. As an evidence of this, more and more airlines are creating direct flights to Cambodia every year.One of the Kingdom's traditional weaknesses for investors - electricity costs - are also predicted to go down as more and more clean and solar energy plants are on the way to creating better solutions for energy consumption and supply.This will be especially true in Cambodia property areas like South Phnom Penh, says Vancliff, where the population is less dense and have more centralized amenities, such as water. Vancliff adds that there are also plans to install underground fiber optics and phone lines. New roads are also coming thick and fast, such as Hun Sen Boulevard, that will open in mid-2016. This will allow easier transport and access to resources that are once unavailable in the area.As the Cambodia property market and infrastructures grow, Vancliff hopes that the worldview towards Cambodia encompass more than just about the Angkor temples. While its grand history has been preserved, Cambodia continues to push towards global economic competitiveness.Want to find out more about Cambodia? Check out news and updates on Realestate.com.kh now!
Investor Tours to the Land of Opportunity: Q & A with Edmond Lim Yao Zen
Investor Tours to the Land of Opportunity: Q & A with Edmond Lim Yao Zen
June 6, 2022, 5:04 p.m.
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Realestate News
Edmond Lim Yao Zen, Project Head, Cambodia Group Division Director @ Absolute Division of PropNex Realty Pte Ltd, has for many years been bringing investors from Singapore and around the region to the Kingdom to survey real estate investment opportunities. In an exclusive Q & A, Realestate.com.kh caught up with Edmond while he was last in town to find out more about his investor tours and get his thoughts on the progress of the Cambodian real estate market past, present and future... 1) Tell us about yourself, your experience and your relationship with Cambodia? I started my real estate career 17 years ago in Singapore. At that time, my job included the normal agent roles - like selling, leasing and property management, as well as hotels and building acquisitions. I first came to Phnom Penh in 2012. I was introduced by a good friend, Mr. Tan Teck Kee, COO of Worldbridge Land, to visit Phnom Penh at that time. My good relationship with Cambodia started then. I was with Jones Lang LaSalle Singapore at that time and we started off with a major event entitled "Cambodia Real Estate Night." The first of these investment nights was held in 2013 at the Sofitel Hotel, and was jointly organised with Bonna Realty Group. We had 200 guests who graced the event. Nowadays, I am with PropNex (in partnership with JLL), in charge of managing the sales of all partner projects in Cambodia. Besides taking care of all salespeople's sales training about Cambodia, I also join as a speaker at various hotel events (marketing Cambodia investments) around the region. 2) How long have you been involved with Cambodian real estate, and in what capacity? Since September 2012, I have traveled to Phnom Penh every month. As well as real estate investors, I bring business prospects other than just property investment clients to Phnom Penh and assist them in investing in the country. The first two years I had more difficulty getting investors to come here as they generally stereotyped  the country, based on the lack of potential of the economy and the history. In 2016, it is much easier... 3) Tell us about your investor tours? What is the inspiration, and how do they work in practice? I believed in educating the investors about the country, first and foremost. I don't just talk about properties to them - I share with them information about the economy, the people, the culture and my opinion about the potential future of what this country could transform into. I get them to spend time in the country doing enjoyable things like shopping, eating in a local eatery, spa and promoting to them some charities available for them to contribute too. They really understand more after my 4 days/3 nights trip. Past guests always introduce more investors to us too. 4) Why is coming to Cambodia, physically, so important for investors? Some savvy investors need not visit Cambodia physically, as they only look at the numbers and facts we show them. Some request to visit to experience the market personally before they invest. It depends on individuals. 5) Why is Cambodia such an exciting real estate market - in your opinion? Cambodia to me has been exciting since 2012. My beliefs started then.. And the passion is still burning high for me now. The property market for Cambodia is more transparent compared to Myanmar, Vietnam or Laos, if we are comparing emerging markets. And according to the FDI restrictiveness indexes of the whole of ASEAN, Cambodia's 0.049 is second to Singapore's 0.047. Even if its population is not the highest in the region, the FDI coming into the country is very promising for investors. Furthermore, the country allows 100% foreigner owned equity/corporations - which is highly beneficial to expat entrepreneurs too. 6) In your opinion, what steps need to be taken to boost the Cambodian real estate market to the next level? I believe that the country should look into raising the vocational standards of the whole real estate industry. Then the efficiency and professionalism can complement the thriving market - especially now with the mass influx of foreign investors. Despite the mass supply raising up in 2018, I believe that the government is exploring and opening up more industries and other business sectors to lift the economy standards to another level. You can see from the FDI coming from China, Japan, Taiwan and others that there will be more expat professionals moving to the country. We will need the infrastructures and housings to cater for these people. We can't wait for demand to come and then build supply - rather, the country has to be ready for it.7) What is some interesting feedback you have had from people who have joined your investor tours? They always say that they didn't expect Cambodia to be so attractive and that they enjoyed every moment of the itinerary I planned. They thought of the past where you might get bombed, gunned or other things related to the past conflict here. But instead, I show them my healthy legs and my ballooned belly from all the delicacies I have eaten in the country. Now a lot of them have also registered with me to visit Siem Reap and the beautiful beaches in Sihanoukville... Learn more about investing in Cambodia!
The Agreement of Property Management Service between Emerald+ and Borey Grand Chroychangva
The Agreement of Property Management Service between Emerald+ and Borey Grand Chroychangva
June 6, 2022, 5:06 p.m.
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Realestate News
On the 3rd of August, 2016, Emerald+ Property Management Services signed an exclusive agreement with the committee ownership and development company Chroychangva.This is in conjunction with the property management services that they will be providing for the Borey Grand Chroychongva project. These properties will include 4 types of residential properties. Namely, the grand villas, single villas, twin villas and flats.In this agreement, Emerald+ asserts that they will only offer management services that are of high standards and quality.Chen Yuxian, the general manager of Grandvision International Development Co.,Ltd and the representative of Borey Grand Chroychangva, said that “Property management services are significantly important for borey projects. These include security protection, social order, and environmental protection so that the borey space will remain aesthetically pleasing and clean at all times.He added that Emerald+ offers the best suited partnership for the relatively new industry of property management in Cambodia because of the professional standards of their work and the qualifications of their human resources.Meanwhile, Ms. Sou Monipich, the general manager of Emerald+, said of the agreement that “offering property management services that are flawless and oriented towards a great customer experience is the stance of the company because of its long term vision for being in this business. Emerald+ sees itself as a company that will adhere to both national and international standards of quality into the future.Grandvision International Development is very busy with the next property development project which is named the Borey Moon Town. It will have 5 types of residential properties and will strategically be located along Oknha Duong Ngeap road, Sangkat Teuk Thla, Khan Sen Sok, Phnom Penh.Emerald+ Property Management Service is a big real estate management company that is licensed by the ministry of commerce. It will open its operation with various partners like UEMS and Nature Landscape who are both huge and famous companies in Singapore, They are known for their expertise in property management and developing natural gardens (landscaping), respectively.For more information, you can contact EMERALD+  today.
Borey Villa Toul Sangke: Where You Belong
Borey Villa Toul Sangke: Where You Belong
June 6, 2022, 5:05 p.m.
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Realestate News
Everyone needs a warm environment where they can live with their loved ones. So before you decide to buy a residential property, carefully consider a few things first such as its atmosphere, it's construction quality, and its potential for future investment. These are just some of the things that shouldn't be overlooked in the buying process. The Borey Villa Toul Sangke development project has gained popularity mainly due to its success in selling its past projects. It is strategically located in the Russey Keo district in Phnom Penh, Cambodia. They offer residential units such as landed homes and condominiums.The Borey Villa Toul Sangke project includes a variety of villas and condominiums that come in different sizes that you can choose from. Each and every home has been designed by construction professionals with quality and beauty in mind. Attention to detail is obvious. Some of the villas that are available are the Single Villa, Link House, Twins Villa, and Flat houses. Families will  also have the flexiblity to choose the City Sangkeo villa type too, as they see fit.Check out full listing on realestate.com.kh"We think about the quality and the best standard of living for families. The Borey has been completed. For all projects, the Borey is almost sold out. The condo project started construction and is at around 20 percent completion. And an estimated 30  percent had already been booked. We also have a special offer for customers which is a 10 percent discount for owners who have paid off their residential condominiums. At the meantime, the developer also provides ultimate offer that only require customers to pay $ 660 in per month with no interest and no deposit. The Borey Villa Toul Sangke condo project concept is focused on helping locals change their standard of living and pursing a more modern life. It also aims to make you feel comfortable. This residential property is exactly that. It brings a high standard of living, which is fully furnished like a 5-star hotel." This is according to Mr. Andy Kong , the general manager of the Borey Villa Sangke company. Ky Kosal, an employee of a private company, says, "After I saw the showroom of the different projects from Borey Villa Toul sangke and researched about it, I think that this is a good projects because the investment location is just near the new Aeon Mall and because it also has a great future investment potentials."Living in the Borey Villa Toul Sangke project offers a more modern, stylish, and luxurious way of living for you the people you live with, whether it's your friends or your family. The Borey Villa Toul Sangke project also has an extremely competitively-priced condominium development located in Russey Keo. It is situated in the business district, which is really close to the main road, government institutions, shopping malls, riverside, sports clubs, banks, hospitals, schools, and entertainment. More importantly, it's also very near the toul Sangke market.The Borey Villa Toul Sangke project consists of around 174 residential units with various designs, all of which were made with the vision of providing spacious, and comfortable homes for individuals and for families. There are also a range of amenities which include swimming pools, a sauna, a gym, a small market, and a golfing club. So, families are sure they will never run out of things to do and places to go to. Check out full listing on realestate.com.kh
The Penthouse Residence: Partnerships with famous brands means long-lasting  value
The Penthouse Residence: Partnerships with famous brands means long-lasting value
June 6, 2022, 5:04 p.m.
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Realestate News
In the process of selecting residential properties, more so than the price, it is important to make sure that it will provide the best standards of living with high quality construction materials to make it ripe for long-term appreciation and future resale or rental value.It is also helpful to consider living with your family in a home that has good environment, and is comfortable and modern. This is what The Penthouse Residence is offering in the heart Phnom Penh. It is an upcoming world-class condominium project that will suit the needs of people who are looking for a more modern flare in their lives.The Penthouse Residence is strategically located in the most desired residential area of Phnom Penh, the capital city of Cambodia. It is the majestic and luxurious condominium project that stands along Sothearos Boulevard, right in front of landmark establishments such as Aeon Mall and the five-star Sofitel Phnom Penh Phukeethra Hotel, and close to many other useful institutions such as embassies and international schools. In addition, this 36-floor tower (about 130m high) is also located close to the Chaktomuk riverside and the fast developing district of Koh Pich (Diamond Island).The developers and contractors have been working hard day and night since the groundbreaking last March 12th, 2016, to ensure that The Penthouse Residence is built according to the highest standards, especially in its foundation work. In a span of just 4 months, the pile boring and foundation work are almost completed. And with the construction going at this rate, it is safe to assume that this project will be finished even before the proposed deadline at the end of 2018.The Penthouse Residence will not only be built with highest quality, lavish decorations, and the safe environment in mind, it will also be built in partnership with many other well recognized construction suppliers includes CPAC by SCG Thailand.The interior designs will be done by Sangiorgio from Italy; the bathroom equipment will be supplied by world class brands such as Grohe and Hafele from Germany, Cotto from Thailand, ToTo from Japan as well as American Standards, which will provide nothing but the best functional and long-lasting products. This helps ensure the project’s safety and build the trust of our customers, now and in the future.According to Mr. Imsouchivy Suos, the assistant project director of The Penthouse Residence, “The Penthouse Residence will offer both great quality and value in real estate market. The project has sold over 50 percent of the units already and has been one of the best-selling condominium projects in Phnom Penh so far due to its prime location, best quality, and reasonable price. We expect to increase our sales to over 70 percent by the end of the year. At the moment, we also offer 5 percent discount and an iPhone 6s for those who decide to book our condominium unit today. Guaranteed Returns of Renting (GRR) will also be offered at 6 percent per year or 18 percent for first 3 years.”For more information please check out the full listing on realestate.com.kh today!
Cambodia property market outlook 2016, with Marc Townsend on Realestate.com.khTV
Cambodia property market outlook 2016, with Marc Townsend on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
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Realestate News
Showing a positive turnout for the 1st quarter of 2016 for prime office rentals, Knight Frank has confirmed that there have been various positive effects brought about by incoming investors, government policies, and infrastructure from different markets in the real estate sector in Cambodia.This is something that the managing director of CBRE Vietnam, Marc Townsend, agrees with. But in his presentation about Cambodia Property Market Outlook 2016, during the inaugural Cambodia Property Show organized by Realeastate.com.kh and PropertyGuru Singapore, he adds that there are also different factors that affect what the future of the property market in Cambodia will look like.The China Factor:Townsend explains that much of how Cambodia has progressed and will progress is partially because of its relations with other developed and emerging markets. And these factors have a significant effect on the Cambodia Property Market Outlook 2016.He says that probably one of the biggest contributors and partners of the country would have to be China, since the two countries share a long history of allegiance.This probably applies most to infrastructure, but can also be seen through other sectors such as tourism. The China Daily reports that, according to the Cambodian Minister of Tourism, there will be over one million Chinese tourists who will visit Cambodia in 2016, and is expected to rise to two million by the year 2020.Townsend also says that China very much dominates the policy-making process and the way that investment licenses are granted in Cambodia.Fluctuations:During another part of his presentation about the Cambodia Property Market Outlook 2016, Marc Townsend mentions that another important consideration when looking at emerging markets such as Cambodia is inflation, as it can move anywhere from a ¼ to ½ very quickly due to an increase in money supply. He adds that foreign exchange can also behave the same way, and it may play to the interest of investors to keep a close watch on both indicators.Retail and Psychology:In his travels and his own analysis, Townsend has seen new businesses rise from the ground - mostly FMCG and FMB operations of which young Singaporean or Malaysian entrepreneurs own. This will play a big role in residential space sales since people like this like to live in areas where there are large active retail components like malls, gyms and after-school education. This is one of the things investors should also consider.And it’s no longer just Phnom Penh dominating the retail market: Siem Reap and Sihanoukville are now slowly catching up and gaining competitiveness in this segment.Townsend is also positive that, with new commercial developments like the Aeon Mall and larger populations flocking to the major cities, major retailers will start to flock Cambodia. Being in the crossroads between being an underdeveloped country and an emerging market gives retailers perfect opportunities to do business and invest.Industry:One of the types of properties that has shown significant growth and has contributed much to the Cambodian economy is the industrial property market, paving the way for SEZs, industrial parks and similar properties to flourish. Much of this has to do with the consistently strong garment and footwear industries. Much to people’s surprise though, according to Townsend, Cambodia also has a growing technology market. For example, the creation of cellular phone vibrators is a big winner currently. This attraction centers on the cheap cost of labor, that is becoming gradually more skilled. Townsend warns investors and retailers though that Cambodia is a part of AEC but not part of TPP. And if the TPP goes ahead of the AEC, then investors in these spheres may eventually lose out.Hospitality and Infrastructure:In addition to all these new developments and signs of progress, Townsend also mentions that it’s a good thing that more airports and infrastructure is being built in the Cambodian market. This actually not only helps the tourism sector by providing more direct flights from different countries, but it also helps the hospitality industry and investors who wish to create properties that cater to these travelers.Condominium Market:Though being flooded by foreign investors, Townsend said that the occupancy of residential condominium units is quite high, especially by Khmer families. This may also be due to the fact that there are now stronger local property management capabilities than previous years. Taking all of these factors into consideration, along with a stable political standing, Townsend says that Cambodia as a real estate destination is quickly catching up with its neighbors. There’s a ready primary market, although a secondary market that is still to be tested. So, while it’s best to be cautious, in his Cambodia Property Market Outlook 2016, Townsend believes that Cambodia offers a unique chance for investors to enter an exciting emerging market with very attractive potential gains.Learn more about investing in Cambodia…
Cambodia as a Frontier Market, with Vic Boyle on Realestate.com.khTV
Cambodia as a Frontier Market, with Vic Boyle on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
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Realestate News
Cambodia is finally entering the global mindset of property investors. And it seems that the more people learn about opportunities in the Kingdom and the progress being accomplished; the more they become interested in the possibilities of investing in property, doing business or living in the country.But frontier market or not, Cambodia has seen significant changes that have catapulted it to its current economic position. And these changes keep coming year after year.This is what Director of Sales of Realestate.com.kh, Vic Boyle, has implicitly expressed during his presentation at the inaugural Cambodia Property show, organized by PropertyGuru Singapore and Realestate.com.kh.In the same presentation, Boyle explains different strategies to take advantage of the growing real estate market and financial growth of the country. While Cambodia is still a frontier market; it offers a lot of the benefits of a frontier market, with few of the normal detriments.According to the Khmer Times, construction investments rose 40% in 2015, compared to 2014 - reaching an all-time high of $3.5 billion. Boyle says that construction has been primarily focused in the Phnom Penh area. And since the city has been at the receiving end of most construction and infrastructure projects, it is now reaping the fruits of that development.In addition to that, 120 projects are currently under construction, 26 new condominium projects were approved last year; and a 133-storey building will rise from the ground in Phnom Penh to become the tallest building in Southeast Asia.  This is expected to bring in at least another $2 billion worth of construction investment into the country.But despite this, Boyle says, one of the concerns that Singaporean investors have is the uncertainty and potential instability of the market. Boyle suggests this is because they’ve either never been to Cambodia, or have been there around ten years ago when the landscape was totally different from what it is now.It is now a far cry from the underdeveloped country is once was, Boyle says. Cambodia has since risen through the ranks, and is continuing to rise as fast as any country in the region.He advises though, "If you're going to Cambodia as a property investor: do your homework, do a site inspection. Preferably, work with a company that is a reliable developer who has previous projects they have finished, be it in China, be it in Singapore - and if they have a connection with a publicly traded company that is very good."Further strengthening his argument, he says that in 2018 there will be around 22,000 residential units coming into the market.However, Boyle warns to stay away from Grade-A commercial spaces, which are too expensive for the local market and have an abundant supply already. He says that better investments will be the Grade-B commercial space, because there is a huge demand but a lack of supply currently.He also warns against setting high expectations and unrealistic pricing for residential rentals. He says that typically, many investors lose money because they set rental fees at such a high value that it becomes unattainable. And since Cambodia is seeing a younger generation of working class grow, people need to realize that this is where the market is right now. An average millennial cannot afford luxurious accommodations yet. So, investors need to be aware of that, and have realistic expectations for rental returns.So, before immersing yourself into the frontier market of Cambodia, make sure that you do appropriate research to see what types of developments are a safe bet, and which are not. Learn more about investing in Cambodia…
Olympic stadium hosts First Flea Market in Cambodia
Olympic stadium hosts First Flea Market in Cambodia
June 6, 2022, 5:06 p.m.
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Realestate News
Sun Fair Market is set to be the first flea market in Cambodia, with a huge range of consumer goods and materials, kitchen and office equipment, antiques, artifacts and all sorts of other bits and pieces for sale.Sun Fair Market will be launched in early August, this year, and will be open to the public from 8am to 12 noon inside Olympic Stadium, Sangkat Olympic. According an interview with CTN, Mr. Kem Oeun, founder and director of the Cambodia Japan Cooperation Center and the President of the Association of Trade and Investment Cambodia – Japan, said that “Sun Fair Market will be full of used and secondhand goods. By sharing and selling these home goods these can then be reused. It is a common thing in other countries, but it is the first ever in the Kingdom.”Kem continues, “The location for our sales are very good, inside Olympic stadium, and the selling will start from 8 am to 12 pm every Sunday. We hope each market day will bring big crowds to Olympic stadium.”He added that, “this is the Japanese culture concept called ‘Mottaina’ - passing on things which we no longer use or do not need to others who need them, and saving the environmental damage of just throwing the used things away.”Ms. So Chanleakhena, fresh-graduate from Korea and currently working in private company in Phnom Penh, “Yes, I’m extremely excited about this project. For one thing, Sun Fair Flea Market is a way to get rid of things I am not using in a really useful way, either financially or emotionally - and by emotionally I mean, giving them to people in need. My house and room will undoubtedly become more spacious and tidy.”“‘Kill two birds with one stone’ is a suitable expression for this, I guess. Also, this can be seen as a chance for Khmer people to start socializing, understanding and helping each other. I’m pretty sure that the project could evoke our beautiful and priceless ‘culture of helping’, which we used to possess.”Sun Sinett, designer and private company staff in Phnom Penh, agreed with this concept: “When you buy from the fair flea market you’re not helping the big business to get richer and bigger.”“Instead,” continued Sun, “You’re helping your community and saving the world’s resources by recycling! It could be a gathering that you can enjoy networking with neighbors and friends.”According to the Facebook page of Sun Fair market, the profits derived from operations will be distributed to Olympic stadium, 25%, Foundation Leng, 25%, 5% to the Kantha Bopha Hospital and 5% for the Sunrise Japanese Hospital. The remaining 40% will be given to operating personnel.
Cambodia ER Visa: New Expat Retirement Visas Available Next Week
Cambodia ER Visa: New Expat Retirement Visas Available Next Week
October 4, 2023, 1:51 a.m.
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Realestate News
Property Buyers & Sellers Advice
July 28, 2016 - Phnom Penh, Cambodia Officials have announced that they will be introducing a new category of visa for foreign retirees in Cambodia which will be called “Category ER Visa”. According to the director of the General Department of Immigration, Major General Veasna, this ER Visa entails a minor change in requirements where foreign retirees will have to present documentation from their home country that will prove their financial stability and capacity to live overseas during the duration of their stay. It’s important to note that expatriate retirees already on the “Class E” or business visa will not be required to change their visa type or apply for a new one, but they will be given an option too. Retirees currently residing in Cambodia appear to have no objections to it as well. One retiree, 49-year-old Bruce from Queensland, Australia, currently residing near Wat Phnom, says that this ER Visa is a welcome change, however “most expats staying here will not switch to a retiree Visa unless they have no choice but to do so.” This is probably because business visas have been beneficial because of the lack of enforcement. Many retirees on a business visa have been able to stay for longer periods through a visa renewal every year without actually being employed or owning any business entity in Cambodia.Read more about Retirement Visa in Cambodia here with our comprehensive guideClick Here
International Investment in Sihanoukville brings $100 Million to White Horse Beach, but local agents question market demand
International Investment in Sihanoukville brings $100 Million to White Horse Beach, but local agents question market demand
June 6, 2022, 5:05 p.m.
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Events & Announcements
Realestate News
The Province of Preah Sihanouk (aka Sihanoukville) is one of the three major economic poles in Cambodia. Sihanoukville is recognized for its numerous valuable resources, including offshore oil reserves, and its strong economic development in the commercial, industrial and agricultural sectors. It is also showing huge potential as a coastal tourism destination: According to Chhit Sengnguon, vice governor of Sihanouk province, there were over 1.3 million tourists who visited Sihanoukville during 2016’s first five months, an increase of around 16 percent compared to 2015. Read full article: “Sihanoukville Property Development Rising Alongside Tourism Boom” According to a recent BayonTV report, in the presentation of the new investment project to the provincial government on 25th July, Mr. Christoph Forsinetti, CEO of KC JSM Services Ltd. said that, “Having seen the potential tourism market in Sihanoukville, the international investment company, KC JSM Services Ltd, has decided to invest in a multi-development project resort along the beach of SES SAR (known in english as White Horse Beach), nearby the Sihanoukville Autonomous Port. And the project will start construction in October of this year.” According to IBC Cambodia, KC JSM Services is a property development company focusing on property development at all stages, from concept design and master planning to property management. Since 2012, the company has worked closely with the Royal Government of Cambodia in relation to policy for the development of the coastal areas of Cambodia, in accordance with the “Industrial Development Policy 2015 – 2025”. “This multi-development project is located in village 3, sangkat 3, of Sihanoukville City; and the new development will occupy almost 60,000 square meters of land area, with a total investment cost of around 119 million dollars,” Forsinetti confirmed. He stated that his company has spent 4 years accessing the environment impact and other potential problems of the planned project before confirming their investment in Sihanoukville, and has provided suitable solutions for all circumstances moving forward. In total, the development will require approximately 2 years to complete all necessary infrastructure. KC JSM Services will offer not only tourism services, says Forsinetti, but also employment opportunities for around 3000 local workers, paying a minimum salary of $200 per month. In regards to this new investment in Sihanoukville, Mr. Van Chanthorn, the CEO TownCity Real Estate, said that there are many big projects underway in Sihanoukville currently, such as the Camhomes project, D’Seaview, and maybe a new airport project underway soon. “This ongoing investment in Sihanoukville will naturally bring more people to live there,” says Chanthorn, “and the price of real estate will also increase in the coming years.” He added that, “This new project, white horse resort, is a very good investment in Sihanoukville because it will bring multiple benefits; One benefit is a direct advantage and another is an indirect advantage.” He explains that this new tourism venture will provide direct benefits to the people of Sihanoukville province in terms of employment and income opportunities. Meanwhile, its will benefit the province indirectly, as the flow-on-effect shall be more investment in Sihanoukville as the tourism industry continues to increase. Chanthorn says, “More visitors are coming to visit Sihanoukville to stay at resorts like this, and these visitors may also consider investment in Sihanoukville real estate in the future.” But Mr. Den Sakal, CEO of Universal Real Estate, a realtor based in the province, stated that this is a very high-end project, and hence it will not benefit the local people because of the very high price of admission. “The purpose of this project is for high-class families and foreigners only,” says Sakal. “The announcements of projects like this focus on the positive benefits of investment in Sihanoukville and dreamy ideals; but the reality in Sihanoukville does not equate to these grand proclamations. Some major development projects in Sihanoukville have become ghost town’s already, and there is a risk that others will too.”   Sakal added that, “in 2015 there was huge investment in Sihanoukville in terms of condo projects, villas and hotels. And at this time, there was still a large demand in the market. However, while investment continues in 2016, many projects now remain empty because of an oversupply in the market after the 2015 boom, and now there is low demand amid buyers.” Despite his pessimism regarding demand for very high-end projects such as the White Horse Beach development, Den mentions that the demand in the real estate market in Sihanoukville does seem to be picking up again generally in the second half of 2016. Images sourced from: www.thekingstrip.com Learn more about Sihanoukville as a real estate destination, and other great insights in our comprehensive investor guides NOW!
Apartment for Rent: 2 Bed, 2 Bath and a Pokemon PokeStop!
Apartment for Rent: 2 Bed, 2 Bath and a Pokemon PokeStop!
June 6, 2022, 5:05 p.m.
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Realestate News
The Pokemon augmented-reality smartphone app has become an online phenomenon the world over. It has caused half the world to stop what they are doing and chase mythical creatures on their smartphones, with crazy outcomes... It has led to car crashes, huge public gatherings, trespassing, accidental deaths and even robberies. But lately, it has also influenced the real estate market. Some players are even believing that the sighting of a pokemon might just increase the value of their property for sale or the leasing rate for their apartment for rent…According to a CNBC News report, US real estate agent Jay Glazer, listing a property near Manhattan's Washington Square Park, included in his advertisement for the property that, "I'm fairly certain there is a PIKACHU at this open house, don't miss it." According to News.com.au, Realestate.com.au, Australia’s largest property portal, has also been struck with Poke-fever, with listing descriptions such as this: “Just across the road is a huge park with sporting facilities — and we’ve even spotted some rare Pokemon!” for a property listing in Townsville’s Cranbrook.A two-bed apartment for rent at Playfield Street in Brisbane’s Chermside is said to have an “easy five-minute walk to the busway” and “close by to Marchant Park — Pokemon Go Central”, claims the agent.And according to an atlasobscura.com report, Craigslisters around the world have also begun using their relative proximity to Pokemon “gyms” and “PokéStops” as a marketing message to catch potential new roommates. For example, a couple from San Francisco have an available apartment for rent near an "awesome Pokemon spawn area!", while a Cincinnati property "has pokestops in range."How long until an apartment for rent within the radius of Pokemon stops and gyms command higher rental prices than those without? It seems this crazy question may actually soon be a reality is some of the world's real estate markets under the trance of the new Pokemon Go phenomenon.Rob Levy from Re/Max in Townsville, Australia, notes that, “Especially among the under-35 first home buyers market, yes... When you have 300 identical houses to choose from, why wouldn’t you choose one near a PokeStop?”Will Cambodia be next to fall under the Pokemon spell? If it is, find out what Pokemon are hiding away in your home and you might just get a better price when it comes time to put it on the market...