Cambodia is developing very fast and so is the supply of real estate investment options. Although majority of the offer is concentrated in the capital, Cambodian provinces are slowly starting to offer appealing opportunities. Moreover, with the current world's attention on sustainability, many developers are starting to base their strategy on new niches. One such development is the vKirirom Pine Resort.
What is vKirirom?
Located in Preah Soramarith-Kosamak National Park, the vKirirom project is an eco-development is where leisure and social responsibility meet.
As the construction moves forward, the developers have adopted several sustainable policies, to live up to its eco-friendly promises, such as: no tree cut down (unless rotten), preservation of the natural surroundings as well as promotion of chemical free fruit plantations, and lastly natural resources recycling.
However, the Singapore-based development is a not just a resort. In fact, the property also features a boarding-style university campus with international teachers that specialize in IT and English.
Entrepreneur and founder of vKirirom, Takeshi Izuka, said that the Kirirom Institute of Technology makes use of a customized curriculum that the country has not seen before. He refers to the project as an up and coming Silicon Valley, that aims to cater to the global needs of the technology sector.
Mr Izuka explains that the project was conceived out of a recognized need for Cambodia to develop a “strong competitive point” during the transition into the ASEAN integration, where cooperating countries are expected to contribute towards a better Southeast Asia region. That’s why his focus for the vKirirom development centers on both IT as well as eco-design.
Currently, the university has 77 international students who are being groomed to become role models and experts in the field. The school heavily focuses on practical skills, and “on-field” learning from top experts of the industry.
However, let’s not forget that vKirirom also doubles as a resort. The location, only few hours outside the capital city of Phnom Penh, allows its visitors to pitch tents in the designed area, for an adventurous weekend, or rent out several apartment-type units. The resort, has all it needs to create a perfect getaway weekend for both, leisure or business. The amenities include: conference rooms, cycling trails, a volleyball court, a restaurant, a swimming pool, a spa and free wireless internet. A golf course and an international retirement village is also set to rise in the development.
As far as the current count, Mr Izuka estimated at least 12,000 visitors in the last 12 months and due to its popularity, the developers decided to provide opportunities for both local and international investors.
What is the investment opportunity?
Izuka explains that pieces of land can be obtained through a 50-year guaranteed leasehold. The project itself has a lease with the Cambodian government until the year 2082. After a lease contract has been signed, investors can decide whether to get pre-designed home plans or have their own home design constructed on the lot. They can then either have the home leased back to vKirirom for profit or have them rented out as an Airbnb unit. The developers guarantee returns of 8% for up to 10 years and the starting price is only $40,000.
The vKirirom project is situated in between two major cities – Phnom Penh and Sihanoukville and is only few hours drive from each. Despite the novelty of this location, vKirirom is slowly making a name for itself and gaining popularity.So, if you’re looking for a unique investment opportunity, educational growth, a quick weekend getaway, or maybe all of these, vKirirom is definitely worth the check.
Considering to invest? Take a look at the unit options available!