Cambodia’s economy has been growing from within its borders throughout recent years. And while it’s not really a bad thing, leading industry players such as Century21 Cambodia have come into agreement that the real estate sector is growing so much that there comes an opportunity to open it up to increased investments for both locals and foreign nationals.
This is the sentiment echoed by Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia, during his speech for the launch of the Condominium Market Report H1 2016 held at Raffles Hotel Le Royal, Phnom Penh.
Sutton explains that as part of their aim to do business more efficiently, a global vision is essential for Century21 Cambodia to be able to move forward with their initiatives to streamline a broader business platform in the real estate and property market. This vision will be the driving force that will motivate them to come up with new and innovative ways to create an environment conducive for global business transactions and collaborations.
As part of this move towards a more inclusive and collaborative industry, Century21 has set up a "Global Strategy Business Development” team which has also launched a worldwide tour series to spread awareness about the real progressive situation in Cambodia and, more specifically, Cambodian real estate. It will be headed by Sutton, along with Mr Kuy Vat and Mr SamAth Him Sprung who are the Chairman and Director of Global Strategic Business Development at Century21 Cambodia, respectively.
Sutton says, “The main focus is strategically thinking globally. This means proactively promoting Cambodian investment opportunities to the global market."
He continues, “So, proactively, we’ll promote the projects in Cambodia to the investors overseas, by means of travelling, building relationships, networking and promoting, promoting and promoting."
"Because we believe the Cambodia property market has the best offering ever, in the region but also worldwide. So, no country in the world can beat the investment opportunities in Cambodia.”
But he also notes that a lot of the populations of investors around the world are looking to diversify their portfolio. And this is where their tour will take a turn for the better as they present and propose a two-way traffic structure, whereby Cambodia property investors can invest in overseas projects and foreign investors can also invest in other overseas projects from countries like Cambodia.
Sutton called it a “complete global vision and strategy.”
In terms of international cooperation, Century21 Cambodia is aiming to leverage partnerships in countries like China, Hong Kong, Macau, Taiwan, Malaysia, Indonesia, Vietnam, Singapore, Japan, Korea, Thailand, France, Australia, Canada, and USA.
Sutton adds that France and Australia have shown great potential thus far as these countries have large populations of Cambodian expats and immigrants.
He says, “Why France? Big Cambodian community is in France. Some of them – Cambodian-French – eventually like to retire back in their home country, Cambodia.” In 2011 alone, there was an estimated 80,000 Cambodian nationals who lived in France.
He further elaborates, “Then we thought, if we can go to France, why not Australia? A lot of Cambodian communities live in Australia.”
This is indeed an exciting time for Cambodia as firms like Century21 Cambodia continue to look for ways to modernize and stabilize the growth in the Cambodia property industry.
And as plans begin to materialize, we can only hope to see rapid and ongoing growth in the Cambodia property market as a result.