According to real estate investment company JLL, the value of investable commercial property worldwide will hit US$65 trillion by 2020. Nearly a third of that, it stated in a recent report, will be in the Asia Pacific region.We are entering the last year of this decade. Technology shapes our everyday life now more than ever. Communication across the globe is instant, businesses trade millions of dollars with those in other nations via the internet and normal people do their work and get information on the web. Tech is pivotal to every industry and real estate is no exception.The JLL report goes on to show that, of the $7.8 billion poured into proptech (property technology) between 2013 and June of 2017, 61% of that was in the Asia Pacific region. It is truly the global centre of real estate innovation.Tech inclusion is rapidly sweeping across Cambodia. Data from the Mekong Business Initiative's 2017 report on Cambodia fintech shows there were over 27 million mobile subscriptions and over seven million internet users in a country of 16 million people. Perhaps more significant, over 50% of the population is under 25 and 21% live in an urban area. This means tech adoption happens at a breakneck speed. But which technologies are changing the face of real estate? Well, here are five of the big ideas that could radically shake up the property sector in the coming year:Cyberspace toursEveryone has seen the flashy virtual reality (VR) headsets put out by Oculus and HTC. We are now seeing that these aren’t just devices for video games. Educational and non-profit organisations are already adopting this technology to develop immersive experiences. So, it’s only natural that real estate businesses are using them to give virtual tours and explore intricate 3D designs.Yu Kobayashi is the CEO of Lastmile Works, a Phnom Penh tech startup which is creating interactive apps that allow users to explore buildings and even entire cities in the virtual space.“The experience is more useful than a brochure or animation. The user can really experience it [the space]. Some of them even buy the property without ever seeing it in person,” Kobayashi said.He was sure to add that the price to create these immersive environments was already trending downward. One could be created for as little as $200, he claimed.The importance of this technology can’t be understated in Cambodia, either. Most real estate funding in the Kingdom, in fact, comes from investors in China. The power to take virtual tours from hundreds of miles away will surely open the floodgates for even more capital inflows.Blockchain: It ain’t just bitcoinBlockchain has hit the headlines because it is the technology behind bitcoin. But actually, cryptocurrency is just the tip of the iceberg when it comes to blockchain. Contracts and agreements can be distributed across the globe with the technology. Indeed, entire properties have already been traded on blockchain networks. In Malaysia, one group has issued tokens which are backed by properties in Kuala Lumpur. This essentially allows anyone with an internet connection to own a fraction of that estate.Official and commercial uses of cryptocurrency are technically illegal in Cambodia after a joint statement issued by the National Bank of Cambodia in June. So, projects now exist in a grey area. The ubiquity of financial scamming was cited as a reason for the ban.Steve Miller, founder of CryptoAsia, said that after blockchain is embraced in the financial sector it will filter down into other industries.“Once the actuality of a trustless money system is realized, then the more exotic use cases of a distributed ledger system will fall into place such as rights management, voting, and other smart-contract innovations,” he said.In Mean, who founded the Khmer Crypto Foundation and a project called KH coin before the official ban, urged people to educated themselves about any sort of tech before making investments.KH coin, he said, was simply a project that aimed to educate people about blockchain, help them avoid scams and boost tech knowledge.Echoing Mean’s comments, Chhay Lem, founder of Serey, a social media and content network based on blockchain said his project was meant to boost education and information access in Cambodia. The platform, which rewards users for creating videos or news articles, decentralises information on a global scale.“Blockchain is the future, and we are using it to create a space for discussion that is completely open and free,” Lem said. There’s an app for thatIf you’ve perused any of the listings for the latest developments in Cambodia, you’ve undoubtedly heard about smart home features. Lights, televisions, air conditioning, security systems and a full range of home appliances can all be controlled from a smartphone. While this concept is still a luxury in Cambodia, properties in South Korea and Singapore have been implementing it for years. IoT, or internet of things, is the broader concept that encompasses these connected devices. Companies making everything from light bulbs to blenders are hopping on the IoT train. There’s even an IoT Asia conference held every year in Singapore. Real estate isn’t the only industry that could be overhauled by IoT, either. The technology is already being put to use in the manufacturing, utilities and logistics sectors in Thailand. Cambodia’s leaders have already set goals towards bringing more high-skilled jobs and value-adding processes to the nation’s factories. Along with robotics and automation, IoT is a clear solution to supercharge local production.Take it to the bankReal estate and banking are intimately related, no matter where you reside. Loans and financing are needed for mortgages, down payments and investment. The banking sector in Cambodia is undoubtedly growing and becoming more mature. Indeed local media has noted that more international players are entering the country, raising standards and making competition more fierce.However, peer-to-peer lending is also on the rise within Southeast Asia. A report from Cambridge University found that the market for alternative financing in Southeast Asia alone was worth a staggering $215.9 million in 2016. Many services that are emerging offer smaller loans with fewer stipulations than banks can offer. What's more, many have humanitarian motives and, ultimately, aim to reduce poverty by bringing people another step closer to more formal financial institutions.Singapore's Fintech News recently profiled P2P lending platforms across Southeast Asia. They highlighted three operating in Cambodia: Karprak, Komchey and Lendwithcare.org. Big data in the big cityAs cities like Phnom Penh offer more and more job opportunities, they grow in size. With a larger population comes the potential for more detailed studies of the market. The idea of big data is quite new. In a report on the topic from earlier this year, real estate group CBRE claimed that urban big data was about three V’s: volume, velocity and variety. Cambodia’s capital is home to nearly two million. The amount of data and information about anything from transactions to food preferences is staggering. What’s more, because of the ubiquity of smartphones, this data can be collected constantly and cover a range of media from pictures and text to video or audio.CBRE’s report goes on to state that higher urban wages and a greater availability of opportunities both contribute to rising real estate prices. “The availability of high-wage, high-status jobs plus the local effect of quality of life [a city’s amenities] will be equal to local real estate values,” the report says.The document goes on to show a few examples of smart city monitoring in action, and how big data is helping to solve real problems. In Santa Clara, California, sensors were put on water systems to save 180 million gallons of water and avoid drought. Yinchuan, China has implemented facial recognition technology and grocery delivery apps to increase efficiency and productivity.Despite noting challenges with regards to privacy, usability and human capital, the report clearly states that Asia could be the most vital region for big data.“Many of the most impressive examples of the application of big data techniques are in Asia -- China in particular, but also Korea.”Potential proptech powerhouseThough many tech developments have been slow to catch on in Cambodia, there is momentum growing. Often people in the country get their first internet connection through a mobile phone, leapfrogging personal computers entirely. A similar effect is being echoed in the world of banking. Credit and debit cards remain relatively rare in the country. However, digital payment platforms such as PiPay, WePay and Smart Luy are a growing trend. We could see the masses jump straight from cash to mobile-based payment.Certainly, there is a growing demographic of youths that are eager to get into the tech world. Perhaps many of them will find themselves working in one of these four areas.For other great resources on the business climate in Cambodia check out our latest investment guide! Also, sign up for our newsletter today and stay up to date with the latest info.Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The Cambodian government is working to set a minimum wage for construction workers in the Kingdom.Prime Minister Hun Sen made the announcement last week during a visit to Kampong Speu province. The Prime Minister noted that the government’s plan is to include construction workers in the expansion of the Kingdom’s minimum wage policy. Currently, the largest group of workers covered under the minimum wage law are garment factory workers.Cambodia’s minimum wage currently stands at $182 per month. However, the minimum wage does not apply to the construction sector.The PM said that careful study and the input of relevant stakeholders, including construction companies, will be taken into consideration in the minimum wage deliberations.“We have to study each and everyone [priority sectors]…we can include construction companies to determine the minimum wage rate and the research must be conducted by construction companies first,” he said.The Ministry of Labour and Vocational Training (MLVT) is already in discussions with the International Labor Organization (ILO) on the proposed expansion of the minimum wage policy.Heng Sour, MLVT spokesman, noted that the ILO needs to research the size of the market and conditions to produce the best possible results or policies.He explained that it will take some time to complete the research and corresponding consultations with relevant stakeholders.  “It may take about one year because relevant stakeholders will need to meet and discuss the ILO's findings,” he stressed.The Prime Minister stressed that the move to give construction workers minimum wage is meant to lessen the problem of worker migration.Lured by the bigger pay and better working conditions in other countries, more Cambodians are working abroad, with neighbouring Thailand as the top destination. A substantial number of Cambodians are also employed in Malaysia, South Korea, Japan, Singapore, Hong Kong, and Saudi Arabia. In 2017, nearly 100,000 Cambodians were sent out to work abroad, representing an increase of 12% from the previous year’s figure of 85,000.The vast majority of manual labourers in Cambodia’s construction sector are paid less than workers in other countries in the region. Moreover, construction workers do not receive insurance or other benefits. Currently, construction workers earn on average $7 (28,000 Riel) per day. In a month, the average pay of construction workers is between $150 and $200. In Thailand, construction workers receive $10 to $12.5 per day.There are 250,000 to 260,000 Cambodians who are employed in the construction sector.It is expected that the minimum wage proposal will gain the support of the majority, if not all of the stakeholders, including construction companies.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The past few years have witnessed an insane amount of developments being built. This means the luxury market is growing stronger. These properties need top-of-the-line services to offer their customers.Julien Lussiez, acting head of marketing for SingMeng Telemedia, stated that new and innovative solutions are needed to meet this fresh demand.“The Cambodian economy is growing rapidly. It’s no surprise that that luxury condos and hotels are also expanding. Our job is to understand their needs and provide the right solution.“At SingMeng Telemedia we have been able to fulfill the demand of our customers thanks to genuine collaboration and communication between our sales, technical and marketing teams.“It was a great accomplishment for our company to be able to provide the first Triple Play Solution (interned, TV and VoIP phone service) in Cambodia. However, we have to stay focused; success is an ongoing process.Indeed, SingMeng CEO Sarah Wang has led the company in the right direction over the past two years. Wang has proclaimed that the group aims to be an innovator and, ultimately, make Cambodia a better place to live.SingMeng’s Interactive TV System is a preliminary step of a bigger project aimed at establishing a smart community. The advanced Smart Hospitality Interface is a system for a new era. The luxury hotel and condominium market has called for a single platform to make integration easy and efficient. They want to strengthen their brands, promote their services and obtain a new way to communicate with their clients.Additionally, some luxury spaces are looking for a totally advanced solution. It is our responsibility to deliver a solution that is on the cutting edge of the industry.The technology inside a hotel room or condo play a more vital role than merely streaming TV channels. It is an important digital touch point and gives the owners another opportunity to pamper their guests.SingMeng’s team is highly experienced putting together customized AV packages and information solutions. All features are uniquely tailored to each hotel or residence. We can help you indulge your guests with delightful entertainment as well as beneficial information.Learn more about the advanced Hospitality Interface at http://smtelemedia.com/s-hotel/ Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Realestate.com.kh is excited to announce the release of the Cambodia Investment Guide 2019. We’ve consulted all the experts, read the reports and compiled all the information in one place. It is essentially the cheat sheet for doing business in Cambodia. What’s more, it’s completely free for you to download.Belt Road Capital Management, the foremost authority on investment in Southeast Asia, supported the creation of the guide, as did DFDL, one of the top law firms in Cambodia when it comes to real estate.Packed full of data, streamlined graphics and gorgeous pictures, this guide will have something for everyone. Whether you do business in the tourism, agriculture, manufacturing, banking or real estate sectors, you will want to read this comprehensive document. Even better, download the PDF, print out a few copies and give all your employees an invaluable resource for understanding Cambodia.We start off the guide by giving you a complete briefing on the country. Demographics, culture, visa requirements and cost of living are all covered. For instance, the cost of living in Cambodia this year was 37.1% less expensive than in the US. After that, we dive into how the economy works in the Kingdom. There are explanations of US dollar usage, banking and money transfers.Then, the guide does a deep dive into Cambodia’s key industries. All the bases are covered. There are sections about garment manufacturing, agriculture, construction, tourism and future industrial development. You may be surprised to learn --from a handy graphic on page 13-- that the banking sector here is worth a whopping US$539 million.Seven percent yearly GDP growth is truly an incredible feat. Cambodia is holding strong, too, and 2018’s numbers are expected to be just as high. Further, as the influx of foreign investment ramps up, nearly every market is changing. No worries, however. This guide is all you need to stay up to speed with all the shifts.On page 18 you can see tons of data about tourism in the country. Did you know tourism accounted for 12.2% of the GDP in 2016? The section is packed full of useful data like that.Dedicated sections cover Chinese investment, their One Belt, One Road infrastructure plan, Cambodia’s place within Asean and all the laws governing investment. China’s investments in the Kingdom accounted for a massive 44% of all foreign direct investment over the last 25 years. Last year alone, Cambodia attracted a fixed asset investment of $1.43 billion from China. All this and more is covered in the guide.Every form of infrastructure in the country is explained in full from air to sea transport. If import or export are on your radar, you need to read this guide. Flip to page 24 and you’ll be treated to a map of all 33 special economic zones in the country.Are you a foreigner who wants to invest in property? Section two has vital information for you. All the mechanism of foreign ownership are explained in detail. DFDL helped to make sure this part of the guide followed all relevant laws as well, so it can serve as a trusted and quick source.Section three is where the guide shines. It’s a complete breakdown of the real estate sector in Cambodia. Every type of property is explained from shophouse to borey. Borey projects with units costing $30,000 to $40,000 were some of the best performing this year. We explain why in this section.All investment areas are given their own focus. Phnom Penh, Siem Reap, Sihanoukville and secondary markets like Battambang and Poipet are all scrutinised. Finally, we finish up with an investor’s toolbox. This can be used as a handy guide you consult before every major decision.So, before the start of a new financial year get a headstart with the Investment Guide 2019. While you’re in the mood for learning more, check out all of our resources such as our yearly consumer survey and our massive list of guides and location profiles. Also, stop by our news section and remember to sign up for our newsletter to stay current on the entire industry.It is completely free and available for download on our site right now!

Phnom Penh’s district of Toul Kork is currently be stealing the spotlight. However, there’s an area in the south of the capital that could soon steal the crown for the hottest place to live and work. Certainly, Meanchey district is on the rise. Woodland Residences, in Meanchey district’s Chak Angre Krom commune, is a project that will make the area unstoppable in 2019.Woodland Residences is strategically located along Hun Sen Boulevard, which is rising to become one of the largest commercial corridors in the entire country. In fact, the third location of the amazingly successful Aeon Mall will be located along this road. Set to open in 2023, Aeon 3 will be larger than both Aeon 1 and Aeon Sen Sok City combined.Don’t worry! There’s no need to wait for amenities. Tons of cafes, name brand stores, and commercial facilities are already established in Meanchey district. World-renowned international school ISPP is here, as is Royal University of Law and Economics. This is truly an area meant for families.This new borey project comes courtesy of Naki Group, a luxury residential developer that builds projects to international standards. Woodland Residences has everything for a fulfilling modern life. An infinity pool, clubhouse, garden, coffee shop, convenience stores and a 24-hour security system are all on offer to residents. What’s more, Singaporean architecture firm Ong & Ong made the complex an all-around beautiful place to call home.The 85 units in this groundbreaking development come in three different styles, linkhouse, shophouse, twin villa and queen villa. Every type has three storeys, is decked out with full furnishings and appliances and has enough parking space for two vehicles.Both the woodgrain accents inside and the trees outside will make you feel at ease and connected to nature. Natural light falls in through the windows and each floor plan is designed for maximum flow of fresh air. There’s no need for vacations when your home is a dream-like oasis!Get more information about Woodland Residence and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

One of the Kingdom’s biggest lifestyle expos is happening in Phnom Penh this month. Realestate.com.kh is proud to be hosting an exclusive real estate section at Ladies’ Fair 2018, a gathering of the biggest names in beauty, fashion, home and baby products, will be taking place on Koh Pich from December 22 to 23. The event is set to host over 20,000 attendees, a record number for any consumer event in Cambodia.  If you want your business to make waves with women in Cambodia, you will need to be at this spectacular show.Realestate.com.kh CEO of Tom O'Sullivan said: "It’s a great opportunity for us and our clients to further build awareness in the Cambodian market and a great platform for our clients to increase property sales."Bargain hunters will be showing up in full force at this shopping extravaganza that will be chock-full of deals and discounts. Come and have access to this huge group of customers. By buying a booth you will be able to showcase your business to the real decision-makers of the family."Women are the main decision-makers when it comes to buying a home, so it was a natural decision for us to jump on board for the Ladies’ Fair this year," O'Sullivan noted, adding that local property giants Creed Asia, R&F Properties and Camhomes would also be present in the event’s real estate section.Spearheaded by Kanha and 360 events, Ladies’ Fair will be one of the premier events of this year. No matter what sector you operate in there will be a place for you. Cosmetics, fashion, decor, and furnishings will all be represented there, as will kitchenware, baby products and much more.The luxurious Koh Pich Convention Center is a perfect place for this unique event. There will be $20,000 worth of prizes given away, tons of exclusive pre-orders, cash coupons, makeup and cooking contests, performances and fashion shows. Because of this incredible lineup, a record turnout is expected.Do you want to have your product or service shown at this groundbreaking event? Hurry up and contact us soon. There is limited space and signup for booths ends Friday. With a range of different price options, there’s no excuse to let this opportunity pass you by!For more information on this event, contact:(English) Tyler Stuart +855 12/81-599-669   tyler.stuart@realestate.com.kh(Khmer and English) Moek Chenda +855(0)77686077   moek.chenda@realestate.com.khRealestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Yuetai’s Phnom Penh Harbour will be the first commercial hub in the harbour area of the Kingdom’s capital. Indeed, it is set to become the centre of both business and cultural tourism for the region.This ambitious projects will not only come to define the city’s riverside, but it will also be one of the largest complexes in the country.Encompassing a total area of around 1.05 million square metres, Phnom Penh Harbour will be located in Daun Penh district, the commercial centre of the city.The project includes Grade A office space, five-star hotels, shopping malls as well as serviced and high-end apartments. It is comprised of 22 buildings covering 118,687 square metres. There will be a transport centre on site, commercial plazas, offices, duty-free shops, professionally managed residences, shopping centres and 7,000 parking spaces. All the urban glamour of Phnom Penh will be represented here."We hope that people can learn about Khmer culture and arts through Yuetai's products," a manager from Yuetai Group said."That's why we are including elements of the Angkor empire in our concepts and blueprints. We are not only developing a commercial project but also establishing one of the best tourist attractions in Cambodia, perhaps even in all of Asia."Since coming to Cambodia in 2011, Yuetai Group has built a number of landmarks including East One and East View, two urban complexes, as well as East Commercial, a business centre. Soon another famous landmark will be gracing the city’s skyline.Four stages will punctuate the construction of Phnom Penh Harbour, which is set for completion within seven years. The White Swan, a five-star hotel, will be completed during the first stage. It is set to become one of Cambodia’s top luxury hotels.The pre-sale stage of properties in the first stage has just recently begun. Clever investors are already lining up for this once in a lifetime deal.Get more information about Phnom Penh Harbour and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

On November 27, more than 100 media outlets in Cambodia and China turned the spotlight toward Dara Sakor of the Long Bay Resort Town on the west coast of the Kingdom. The move will see an upgraded tourism plan and has resulted in admiration from Chinese investors.China’s One Belt, One Road policy is being carried out within several of Cambodia’s special economic zones (SEZs). Meanwhile, Dara Sakor becomes the first section of the 360 square kilometre SEZ in Koh Kong, the culmination of a decade of progress and Chinese investment. After launching on the global stage and hosting a groundbreaking ceremony, Dara Sakor will set its sights on creating a world-famous tourist resort.Temi TownAlso touted by the team behind Dara Sakor was the sweeping Temi Town project of Koh Kong province. The massive undertaking, which is set to include everything from resorts to airports, was shown as a prime example of the group's dedication to the One Belt, One road plan.Union Group Urban Development Group Co., Ltd's chief marketing officer said that the project shows that relations and cooperation between Cambodia have never been stronger.One Belt, One Road brings global recognitionAt 5pm on November 27, the ground was officially broken for the Dara Sakor Long Bay Resort Town project. This is the first project of the Dara Sakor Special Economic Zone and is a direct result of both the China-Cambodia Economic Cooperation Model and the One Belt, One Road policy. It is also the highest-profile cultural tourism project in Cambodia.Seeing the value of the project, it has been looked on favourably by the Cambodian government and national leaders. Development plans for the Dara Sakor Tourism Resort Special Zone even stretch all the way back to 2008. After 10 years of infrastructure construction, the project is now being introduced to both global media and investors. Leaders from Cambodia, Zhengheng Development Company and partners from more than 100 Chinese and Cambodian media outlets were invited to the event.Holiday destination and industrial areaTriumphant music began at 5:30pm and the groundbreaking was underwar. The head of Zhengheng Development and other stakeholders delivered speeches and presented the blueprints for 360 square kilometres of Sea Empire and 200 hectares of world-class travel and holiday destinations to all the guests.Dara Sakor’s Long Bay is located at the core of the Dara Sakor Special Economic Zone. The project covers a total area of 200 hectares, surrounded by mountains and the sea. It hosts 1.9 kilometres of coastline, standing as a hub of tourism, and integrating financial capital, holiday resources, overseas resources, IP, services, smart cities, cultural travel and much more.It will create a new destination for world-class travel and vacation by creating smart industry parks, commercial style neighbourhoods, core areas of cultural travel, sea view apartments, villa resorts, yacht marina resorts, coastal leisure resorts and quiet sea bathing areas.Dara Sakor’s Long Bay started as a 55-hectare industrial park, which is an exclusive smart park. The development team, who has visited dozens of cities, deeply understood the industry rules, and analysed the main points of the industry, focusing on top security and support.As a starting point, Dara Sakor’s Long Bay plans to construct a 5A office building on the coast, a hardcover delivery condominium, a gourmet restaurant, a commercial block and a sports venue. Everything will feature triple security measures to ensure a relaxed, safe and long-term operation for all enterprises in the park. The project will be based on digitalisation and modern technology and will bring work to 80,000 industry and tourism personnel within five years.Investors already signing upOn-site guests reported high investment enthusiasm for the project. After the meeting, under the witness of the Cambodian national leaders, Zhengheng Development Company and many Chinese and Cambodian journalists, a grand signing ceremony for investors entering the park was held.Dara Sakor-Long Bay launch ceremony was a great success, marking a successful step of China's One Belt, One Road project in Cambodia. This is not only the development model of Zhengheng Development Company but also of the Chinese government.This exciting step will push global economic cooperation and tourism development in the country. Indeed worldwide attention is already growing rapidly.More information contact：carina.cai@realestate.com.kh  (+855) 012 426 538Find out more about new developments in Cambodia at Realestate.com.kh

New real estate developments have been shooting up across Siem Reap over the past few years. Indeed, the Kingdom’s main tourist draw has seen a spate of new hotels, boutique accommodations, guest houses and apartments. Earlier this year Mario Tan, sales and marketing director of Hunter Estate, claimed the number of tourist-centric structures has surpassed 1,000. That is double what existed in the city just two years ago, he added.It’s no surprise that the home of the Angkor Wat temple complex has seen such a massive demand for lodgings. According to Angkor Enterprise, the custodial organisation for the park, the number of visitors nearly hit 2.5 million in 2017.Phin Vanna, CEO of Camglobe Realtor in Siem Reap, noted that larger hotels—those with more than 100 rooms—have seen a massive influx of Asian tourists, especially Chinese nationals.“Boutiques, guesthouses and homestays have not grown as fast as large-scale hotels,” Vanna said, adding that the number of Western visitors to the area has gone down by about 50 percent. The number of Chinese tourists, he claimed, has doubled in recent years. He mentioned that most groups from China come as a part of packaged tours.Charles Evans, director of Siem Reap’s Cambodia Property Shop, said that the hospitality sector is still front and centre in the area, and there is still untapped potential.“I am working to help foreigners invest or rent hotel businesses in Siem Reap,” Evans added.“There are many hotels featuring many rooms across the city. Last year, 30 new boutique hotels were built nearby Damnak pagoda. This brought hundreds of new rooms to the market,” he stressed. Interestingly, Camglobe’s Vanna claimed that, prior to July’s national election, investor interest in hotels saw a noticeable spike. Now, however, renter and buyer demand has flattened out. “A 100 to 200 room hotel can be rented for between $50,000 to $100,000 per month, in accordance with its location and facility,” he added. Vanna, however, noted that majority [90 percent] of building owners prefer to sell the whole hotel rather than rent it out. “A hotel with 100 to 250 rooms can sell for between $20 to $60 million,” he revealed.  Cutthroat competitionOf course, more options in Temple Town means more competition. Commenting on this, Evans noted that some hotel owners who aren’t able to generate enough income are shifting their property over to long-term stays.Choch Cho, founder and CEO of Siem Reap Property Services, echoed the claims that competition was getting more fierce as new hotels emerge in the city.Cho explained that, although visitor numbers were on the rise, supply was still exceeding demand due to the number of new projects.Growing competition isn’t the only challenge the sector is facing, either. Phy Sophov, general manager of Ring Boutique Hotel, said that owners need to stay in tune with the preferences of travellers. If they simply stick with the same business model, he said, they will fail.Sophov added that, despite growing numbers, the market is in the midst of a cooling down period. Large-scale luxury hotels have the most room for growth, he claimed.“The market is still relatively strong and developers can profit as long as they bring something unique for their clients,” Sophov pointed out. Perhaps due to the falling number of Western visitors, many small boutique hotels have suffered or even closed over the past year. Sophov’s Ring Boutique Hotel, however, has capitalised on the growing trend toward eco-friendly accommodations. It offers 22 rooms on a 1,425 square metre plot.“We bring the unique feeling of living within the natural environment of Siem Reap,” Sophov claimed. He added that they weren’t seeing as many foreign visitors, but domestic tourist numbers at the hotel were up by 70%.Noting that keeping rooms affordable was pivotal to their business, Sophov said that rooms could be had for between $30 and $35 per night during low season.Camglobe’s Vanna noted that boutique hotels were popping up at nearly every price point, however. “Four-star hotels in the area are charging between $100 to $250 per night. Many boutique hotels are also in this market segment,” he said.If you're staying in Siem Reap long-term, be sure to read our latest guide to life in Siem Reap.You might also be interested in browsing our listings for investment property in Siem Reap or real estate for sale in Siem Reap!

Cheng Fung Investment (CFI) specialises in real estate, hospitality, and finance, providing advice on investment, management and marketing for clients as varied as hotels, restaurants, real estate developers, construction companies, banks, microfinance organisations and insurance companies.CFI's consulting services, based on professionalism and ethics, can help form strong business partnerships and boost investment in the country. They can also draw up clear and strategic business plans to provide outstanding one-stop professional services for all your needs. The company draws on close relationships with big corporations and the government.“Our team is highly experienced in a wide range of markets from real estate to finance, tourism, and business consulting,” Buth Kerady, CFI's CEO, said.“We understand fully how to identify the strengths, weaknesses, opportunities, and threats related to business competition or project planning in the Cambodian market. We have a clear, strategic business plan to provide outstanding professional services. Our commitment is to deliver quantity and quality projects,” she said, adding that the company is based on the core values of professionalism, relationships, integrity, connections, and ethics.“Our vision is to be the market leader and your ultimate partner with our outstanding level of services, together with professional expertise to achieve your business goals,” she said.“To achieve this, our mission is to develop long-term business relationships built on honesty and integrity with the flexibility to adapt to any business blueprint aimed at achieving success.”Kerady said CFI will provide all the expertise for investors to understand the Cambodian market. The company’s highly qualified experts aim to deliver satisfaction with operational insight into quality projects.“We are the best institution for you to ensure satisfaction because we consider personal interaction as the key to ensuring every client’s business is run according to their needs.” According to the Council for the Development of Cambodia (CDC), the government agency responsible for investment activities in Cambodia, committed investment from foreign countries grew from US$2.9 billion in 2012 to $3.6 billion in 2016. Chinese investors were the most instrumental in this growth.Last year, Chinese investments worth $5.3 billion made China the number one investor in Cambodia. Chinese investors are investing in almost all fields, from energy to infrastructure, tourism, real estate, finance and human capital. Chinese investors entered Cambodia in different forms, including groups of businesses, corporations, branches, joint-investment projects, and other projects.“With the increase of foreign direct investments into the Kingdom year on year, particularly from China, it requires to have a professional consulting firm provide the best advisory services to investors on their business activities and investments,” the CFI CEO added.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The R&F Phnom Penh City sales centre was inaugurated and R&F Glory was introduced at a ceremony held in Phnom Penh on November 18.R&F Glory, another high-quality residential project, was introduced by R&F Group, following their last project R&F Phnom Penh City. The pattern represents a new trend in urban residences, showcasing fresh ideas and adherence to high standards. The new complex will extend the vision of creating a flourishing and multicultural community. It will truly be another masterpiece of the capital’s skyline.Phnom Penh R&F Group city sales centre opening and R&F Group Glory introduction ceremonyAt 9:30am the echoes of the solemn Chinese and Cambodian national anthems rang out. This represented Phnom Penh ushering in a remarkable event. The splendour of the Phnom Penh City sales centre was opening to the public and R&F Glory was being introduced with an official ceremony.Accompanied by a traditional Cambodian blessing dance and the majestic Chinese lion dance, the ceremony was a sight to behold. Many distinguished guests came to the podium to touch the lion’s eyes for good luck. They all wished for a lasting link between R&F Group and the Cambodian people, in order to forge a prosperous future. Local superstar Aok Sokunkanha serenaded the crowd, perfectly fulfilling her role as the spokesperson for R&F Group.Subsequently, Mr Wang Zhihao, vice chairman of R&F Group Cambodia, delivered a speech and expressed his warmest welcome and heartfelt thanks to the guests, including the media and fans. He added that R&F Group is actively building on the Chinese government’s One Belt One Road initiative, noting that the group has the honourable opportunity to contribute their efforts to Phnom Penh’s construction industry.On behalf of R&F Group, Mr Wang Zhihao sincerely thanked the Cambodian government for their full support. He said the government’s guidance will help R&F Cambodia develop and succeed further. He closed by thanking all partners and associates that had helped the group move forward.Speech by Mr Wang Zhihao, vice chairman of R&F Group group CambodiaPhay Bunchheun, the vice minister at Cambodia’s Ministry of Environment, was specially invited to deliver a speech at the grand ceremony. He said that China and Cambodia have enjoyed a profound friendship since ancient times. China and Cambodia are now in a period of rapid development and the bond is growing. Either in economic development or urban life, there have been incredible cooperative achievements.Phay Bunchheun spoke highly of R&F Group's ceremony, which he said proves that R&F Group are riding the wave create by One Belt, One Road. The group’s outstanding projects have fuelled the Cambodian property sector and brought prosperity to the country.Deputy Environment Minister Phay Bunchheun delivers a speech at the ceremony.Oknha Heng Vuthy represents The Cambodian Chamber of Commerce.Then, amid thunderous applause, Phay Bunchheun and other officers of R&F Group raised a curtain to reveal the sales centre for Phnom Penh City. All guests were then guided by a concierge to explore the brand new showroom which showcased both of R&F Groups projects.The Phnom Penh City showroom officially opens to customers.At 11:10 am, the introduction ceremony of R&F Glory officially began. The showroom was already bustling at this point. Buyers came with their families and were eager to line up for the event. Sales of both residential and commercial spaces located along Monivong Boulevard were offered up to the first winners of a lucky draw. Streams of people queued to hear about the location, different unit types and property services. The optimism was palpable; R&F Group has a reputation for building confidence with leading developments.R&F has always believed in the strength of quality and glory of reputation. This year, by introducing another high-end residential project in Phnom Penh, R&F Group is again contributing a treasure to the beautiful capital of Cambodia. As one of the pioneering high-rise residential buildings in Phnom Penh, R&F Glory will provide the most luxurious and wonderful experience for residents. It will truly bring excellent construction quality, high-end facilities and star-level property services to the city.Looking for real estate for rent in Phnom Penh  or real estate for sale in Phnom Penh?Get more information about R&F Glory

Cambodia is undergoing a massive population shift. Day by day, Kingdom residents become both more connected by technology and more urbanised. Job opportunities are drawing an increasing number of people to the capital and industries are rushing to keep up.Numerous international reports from bodies such as the World Bank, Asian Development Bank and the International Monetary Fund have highlighted the need for infrastructure development to keep pace with the expanding economy.The Kingdom’s roads are often the subject conversation concerning infrastructure. Late last year, over half of the country’s roads were deemed to be in poor condition by the Ministry of Public Works and Transportation (MPWT). Furthermore, 70% of roads were funded by money from China. According to many experts, infrastructure in the country needs a facelift. Oknha Ly Hour, chairman of Housing Development Association of Cambodia, said Infrastructure investment is a critical factor in the continued success of Cambodia’s real estate sector.He explained that more money for building roads, railroads, bridges, and other infrastructure means better growth prospects for Cambodia’s urban areas where real estate development is concentrated.Soth Virak, CEO of Huttons CPL, said that in order to sustain long-term real estate growth, first, Cambodia need to improve the infrastructure across the country.“Currently, major cities, such as Phnom Penh, Kampot and Sihanoukville have seen the construction of new roads, railway, bridge, and waterways,” Virak said.According to local media, MPWT has announced plans for another ring road around the capital, as well as major overhauls to national roads 2, 3 and 4, and a 190 km highway linking Phnom Penh to Sihanoukville.Vasim Sorya, director general at MPWT, said some of these projects are being studied while some are ready for work to begin. “Government will need a huge amount of money to build such major projects,” Sorya  confirmed, adding that building infrastructural system is necessary for the Kingdom’s economic development.”Sun Chanthol, minister at MPWT, earlier this year urged all departments to improve road repair procedures in order to raise the standards for the Kingdom’s thoroughfares. Woes over master planOne major obstacle in the drive toward improving and advancing infrastructure seems to be the dissemination of a centralised plan. Vann Vat, a local urban planning expert, said that developers have been given a master plan for Phnom Penh as a whole, but have not been given specific commune-level plans by which to lay out new buildings. “The Ministry of Land Management’s policy is good, but we are seeing problems arise with implementation,” Vat said, adding that flooding, sewage, traffic and pollution problems were causing frustration as well as economic losses because of infrastructure shortcomings.He further speculated that there needed to be a strong commitment behind a master plan, as well as proper funding and investment in human resources. “People come to Phnom Penh to find jobs, infrastructure obstacles are holding back the economic process.”Indeed, the resounding feeling is that any slowdown in infrastructure development could be a major barrier for the Kingdom.Teng Rithy, founder and director of Property Investment Realty Partner, told Realestate.com.kh earlier this year that infrastructure is imperative to the expansion of the capital. “To support the economy and welcome more international investors to Cambodia, we need to have stable infrastructure in the form of transportation, power and communications as well as solid support systems in place,” he said.“These moves are leading more people to relocate to the city.”Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Despite falling three places on the World Bank’s (WB) annual Ease of Doing Business report, Cambodia’s overall score improved. The document, released late last month, noted that obtaining construction permits is now less expensive in the Kingdom. Industry insiders, however, speculated whether there was any noticeable change in the sector.Every year, the WB releases the report which ranks 190 nations by analysing regulations that either enhance or constrain business activity. Cambodia scored a 54.8 for the 2019 report, representing a gain of 0.41 over its score last year. The lion’s share of the growth was attributed to improvements in the process for dealing with construction permits. However, the report also noted that starting a business and getting electricity also became easier over the last year.Though the Kingdom still fell below the regional average score for the East Asia and Pacific region, its rank for ease of getting credit was 22 out of 190. Malaysia was reported to be a regional leader with a score of 80.6 which put it in the 15 spot on the list.The report included a case study that examined the cost and time required to establish a 1,300 square metre, two-storey warehouse in Cambodia. Twenty procedures associated with obtaining construction permits were allegedly required. These processes took a total of 652 days and cost 3.3% of the project’s total value of $64,457.Interestingly, the category dealing with construction permits was one of the Kingdom’s worst-performing metrics just two years ago. While both the time and number of procedures have stayed the same the permit costs have gone down.Last year, a similar WB case study showed that construction permits amounted to 5.3% of the warehouse’s value. The year before that, the same metric stood at 5.8%.Requests for comment on any change in construction permit fees went unanswered by the spokesman for the Ministry of Land Management, Urban Planning and Construction (MLMUPC) as of press time.According to 2017 data from the ministry’s website, however, construction permit applications are claimed to have a 15 working day processing time for villas less than 500 square metres, flats and wood or brick houses. These permits reportedly only incurred a fee of between $34 and $450.Chim Panha, an advisor with agency group V-Trust, said that the ministry has just recently set out to establish new fees for construction permits.He said that each district in the capital charges different fees, which also depend on the building’s size. For five-storey buildings, he said, the owner can apply for construction permits at the commune level. Anything taller needs to have a permit OK’d by the municipality. Panha added that permit fees began changing three months ago, but have yet to be updated in many areas.Michel Cassagnes, managing director of construction group Archetype Cambodia, a contributor to the WB report, claimed that any significant changes to construction permit fees had gone under the radar. The overall process, he added, was unchanged.Unfortunately, the Kingdom still charges more for building permits than the regional average. Among East Asia and Pacific nations the average cost for construction permits was just 1.9% of the case study warehouse’s total value. That metric stood at just 1.5%, less than half of Cambodia’s 3.3%, for OECD high income nations.Neighbour to the northDespite being below the regional average score, Cambodia was able to come up ahead of nearby Laos, which came up in the 154 spot.James Whitehead, CEO of yula.la, Laos’ leading general classifieds website and laorealestate.la, Laos’ first specialised real estate portal, noted that Cambodia’s northern neighbour was still a much more difficult place to start a business. “Lao citizens can hold ‘land use rights’ which is similar to ownership. Foreigners, on the other hand, can own buildings, but not the land they are built on,” he said, adding that foreign-owned business were often slow to get off the ground.Light at the end of the tunnelAfter hitting a peak in 2016 by clinching the 127 position on the WB list, the Kingdom has been backsliding over the past few years. The country is still above the low point for the decade which was when it sunk to the 145 position in 2010 in the wake of the global financial crisis two years earlier.Despite the somewhat stagnant ranking, it seems that moves are being made to strengthen the mechanisms for small- and medium-sized enterprises (SMEs) in Cambodia. Local media reported last month that Prime Minister Hun Sen signed a sub-decree advancing several tax incentives for SMEs. The incentives offer exemptions of between three and five years for newly established businesses.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

Today, most expats in Cambodia end up in the capital. Siem Reap is another leading destination for those relocating to the Kingdom. Furthermore, the nation’s top tourist draw, the Angkor Wat complex, makes Siem Reap top on most people’s lists. Realestate.com.kh is happy to bring you an expat guide to Siem ReapMake sure to check out the video to see what one of the country’s top agents has to say about life in Siem Reap. Still on the fence about where to live? We have a whole host of location profiles for areas across the Kingdom. Putting Siem Reap on the mapFirst, a little background: From around 800 AD to 1430 AD, the Kingdom covered most of Southeast Asia. Not only that, but it also produced amazing temples such as Angkor Wat and Bayon near Siem Reap. Indeed, it was a global city a thousand years ago.Interestingly, the Angkor Empire began as a Hindu empire and only later became Buddhist. Because of this, most of the architecture at Angkor Park depicts Hindu imagery. The heritage of this era is a point of pride for most Cambodians.Unfortunately, the Khmer Kingdom began declining around the 14th century. Soon after, the capital was moved to Phnom Penh, where it remains to this day. Siem Reap is anything but boring, however. It holds wonders untold.Come one, come allOf course, Siem Reap’s reputation as a tourist capital means it attracts both visitors and expats. Many expats move there in order to start businesses such as hostels, restaurants or tour companies. What’s more, English is widely spoken because of all the Western visitors who pass through. Visiting the ancient temples here is only scratching the surface. There are sights, amenities, and attractions. You will never get bored.Finding work in Siem ReapThe tourist industry, of course, employs many expats in Siem Reap. Guesthouses, bars, and restaurants occasionally hire expats. Many others start their own businesses.Non-profit organisations often have roles that expats fill. Contracts are usually one to three years and staff members usually come from both Cambodia and across the world. Teaching English is another possibility in Siem Reap. There are a wealth of international schools and they are often looking for native-speaking professionals with TEFL certifications. Housing typesIt can be a bit daunting at first to try finding a house in Siem Reap. First, though, you should zero in on what kind of place you want to get.ShophousesTwo- and three-bedroom flats inside traditional shophouses are one of the most common arrangements for expats in Cambodia. Many are split into two levels with kitchen and living areas below and bedrooms with en-suite bathrooms above. FlatsNew buildings are popping up around Siem Reap. Complexes will usually have common parking areas. Units will resemble typical apartments in the West with a full range of furnishings. Because many buildings are new, it is helpful to have an agency in the know, such as Hunter Estate.ApartmentsFull-service apartments look similar to the condominium units described above, however, buildings will have more luxury features. Pool, fitness centre, 24-hour security, internet connection and housekeeping services are often part of the package with apartments in this category. Because of this, many expats who maintain an active lifestyle often opt for these types of spaces.VillasThese freestanding houses are often used for businesses, but occasionally one will pop up on the renter’s market. They can be expensive, but if you have a large group and want more seclusion, this can be a viable option. Villas can be found both furnished and unfurnished and most have spacious balconies and small gardens. Prices vary based on size and location.Mario Tan, the director of sales and marketing with Hunter Estate said that in nearly all categories of housing, expats can expect to spend around $400 per person on monthly rent. Thankfully, we have thousands of listings on Realestate.com.kh and you can peruse real estate for rent in Siem Reap all you want.There’s something going onThere’s an anomaly in Siem Reap. It seems to have become the fine arts centre of the country. Maybe it’s because of the majesty of Angkor Wat, or many the easygoing lifestyle. Either way, it’s somewhat of a bohemian paradise. One Eleven Gallery and Mirage are just a couple of places where exhibitions and art events happen in town. Land of foodiesThe fact that hoards of tourists pass through here every year means there will be tons of food options. Haven is a great option if you want something fancy. Otherwise, head to Sita Sousdey which even offers vegetarian options.Miss Wong is great for an evening cocktail or perhaps go to Siem Reap BrewPub if you want something on tap. To be sure, Siem Reap has nearly every cuisine represented.Finally, we can’t forget about Pub Street. A night out in Temple Town wouldn’t be complete without a stop at one of the haunts on this tourist focused strip.AmenitiesDespite not being the biggest city in Cambodia, Siem Reap has plenty to offer. Convenience stores are dotted around the city. They can be perfect for simple groceries. Additionally, there are supermarkets like Lucky or Thai Huot where you can stock your pantry. If you’re adventurous and want to shop on a budget there’s nothing quite like the wet markets around town, however. Hit up Psar Chas for fresh Cambodian produce.As for health services, most expats opt to go to Royal Angkor outside of town for any medical issues. There are also a number of international-tier pharmacies in town that have medicine. U-Care is one of the most popular.Leaving on a jet planeThere are hundreds of exciting things to do in Siem Reap besides the Angkor Wat complex. Nature lovers can take tours up Kulen Mountain and see rushing waterfalls. Taking a day trip to the Tonle Sap, one of the world’s most famous lakes, is a must. You can even sign up to take a pottery class.Siem Reap has a bustling international airport. This means that travelling around the region is simple. Routes to Bangkok, Hanoi, Singapore, Kuala Lumpur and many other places run almost every day of the week. The geographic location of Siem Reap is a boon for travel. Buses to major cities in the region are cheap and great if you want to experience all the views of the countryside.See it for yourselfSiem Reap is a gorgeous town. No matter what you read you will need to see it for yourself. So, check out the video at the top that Realestate.com.kh made with the help of Hunter Estate. They focus on helping expats find the perfect housing in Temple Town.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The speedy development of Cambodia’s real estate sector has been a key factor in the country’s constant GDP growth of around 7%. Indeed, growth has hovered at this level for nearly a decade. Currently, tourism, agriculture and manufacturing all seem to be pushing the demand for property and building in the Kingdom. Garment manufacturing, which is a lynchpin of the country’s economy, is inextricably linked with the real estate sector. Factory premises are the foundation of any such business, after all.According to the Ministry of Industry and Handicrafts, Cambodia’s industrial sector employs nearly one million people, 800,000 of which work in garment factories. Of the 1,522 registered factories operating in the country last year, over a thousand were making garments. Secondary industries included food and beverage, chemical rubber, plastic, electronics and paper.Most of the Kingdom’s factories are located in the vicinity of Phnom Penh. However, they can be found across the nation, in locations such as Preah Sihanouk, Kampong Speu, Kandal, Svay Rieng, Kampong Chhnang, Takeo and Kampong Cham provinces.As factories are built, the population in the nearby area grows along with economic activity and, in turn, real estate values.James Whitehead, CEO of yula.la, Laos’ leading general classifieds website and laorealestate.la, Laos’ first specialised real estate portal, noted that Phnom Penh hosts many of the Kingdom’s factories. Laos, in contrast, he said, relies more heavily on hydropower and natural resources. These industries aren't as labour intensive and don't necessarily lead to urbanisation in the capital of Vientiane. Cambodia's garment industry, however, requires centralised labour.“The manufacturing sector has a huge effect on real estate growth because many people come to urban areas specifically to find work,” Whitehead said, adding that most of that growth is concentrated in Cambodia’s capital.“The huge number of people push the city to grow and expand in terms of infrastructure, housing, services and amenities,” he added. With a larger population, demand for food, accommodation, entertainment and services also grows.Sorn Seap, founder and CEO of Cambodia’s Key Real Estate, said that garment factories have been essential to the growth of the real estate sector. Seap elaborated on this connection by saying that economic growth feeds the property sector. Growth, in turn, is mainly fuelled by manufacturing.He explained that, in many cases, miniature economies sprouted up around factories. Food vendors and retailers often pop up in the area to cater to the vast amount of workers.“It leads to huge demand for rental houses in the city’s suburbs,” Seap claimed, adding that affordable real estate is pivotal for fostering the growth of small- and medium-sized enterprises, especially on the outskirts of the city.Sharing Seap’s view, Whitehead said that garment factories mainly impact the market for low- and middle-tier real estate.Bringing about positive changesIn the past few weeks there has been talk about the European Union (EU) discontinuing the Kingdom’s duty-free trade preferences under the Everything But Arms (EBA) pact. This has led to concern over whether the real estate sector will take a hit in the coming months.Commenting on this market shift, Whitehead claimed it could shake up the market, but would ultimately create positive change. He said that jobs should evolve beyond low-skilled labour and bring more value to the economy by entering more lucrative segments of the market.Diving deeper, he said that Cambodian factories made most of their money from low-level consumer products for the huge EU market. Moving toward high fashion items, or even electronics would require workers with more education and more training. Shifts like this, he said, are already taking place in nearby Vietnam and China.“[The sector] needs to boost the value chain and train staff for higher level manufacturing,” Whitehead said, adding that electronics or diamond polishing were two options that could prove fruitful.Further, the government can assist by creating more high-level industrial plans so that opportunities in these industries can be developed sustainably.Seap echoed these claims, saying that tax preferences were, indeed, helpful. However, education and development were important for creating growth within the country.Other predictions for the outcome of EBA cancellation have been quite dire.According to local media, economist Ngeth Chou said that, without tax preferences, the garment sector will take a hit, as will other export sectors. Chou claimed that if a significant number of investors closed their factories in the country, there could be a domino effect. “Workers rent houses and their landlords have mortgages with the banks. If there are no workers then landlords end up losing business,” he said.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

More than 50 high-quality property development projects were on display at the third Cambodia Real Estate Expo last month. This event, which showed the escalating prosperity of Kingdom real estate, was where V-House debut to the world.V-House aims to be everything a Phnom Penh resident would want for successful urban life. Not only did the project showcase its full-service condos at the expo, but it also gave away a host of luxurious prizes.The first 66 buyers were entered to win either an iPhone X, a full package of appliances including a Samsung 40-inch LCD digital TV, Panasonic energy-saving refrigerator and a Panasonic washing machine, or a massive discount $10,658.Nonetheless, every attendee who stopped by V-House’s booth received a unique and fashionable gift. Needless to say, the booth was bustling from the very beginning.Project launch ceremonyThe grand opening of V-House’s sales period was held on October 21 at its office along Phnom Penh’s road 1986. Kicked off by a traditional Buddhist blessing, the event featured speeches, a ribbon cutting and official launch of the project.Additionally, guests were welcomed to chat and share their insight on the V-House project. Many discussed property investment in Cambodia and the general state of the industry. The idea of the new Phnom Penh was on everyone’s mind at the exciting event.Indeed, V-House sits adjacent to two of the hottest areas of the capital. Sen Sok district has seen countless new businesses flourishing and Tuol Kork district is becoming an affluent residential hub. The project aims to be a part of this momentum that is set to send property values soaring.Chic styling and a wealth of unit types are two factors that make V-House stand out from the pack. The high-rise project is sure to become a defining feature of Phnom Penh’s skyline. Every unit offers a stunning view of the urban landscape from a private balcony. Modern design blends with practicality here to create a unique home within an elegant community.Construction with the highest standards in mind, V-House has a fitness room, infinity swimming pool, vast parking lot, 24-hour reception area and British butler service. Residents will be catered to with both professionalism and personality.The location of V-House serves as one of its strongest features. Sitting at the centre of new Phnom Penh, the complex is in a cosmopolitan business hub. Phnom Penh International Airport is just a 12 minute drive away. TK Avenue, Aeon 2 and Makro shopping centres are just three minutes away. Schools are near at hand as well. Phnom Penh Art Institute, PUC Foreign Languages School, Zaman English University and Limkokwing University are within arm’s reach. Urban amenities such as medical and financial institutes, cinemas and sports clubs are all nearby.Project detailsV-House serviced apartments are jointly developed with Zhonglian International Industrial Co Ltd. Founded in 2016, the project is a collaboration between a local developer and one from Macau. The project was launched last month.Spanning 19 storeys with 235 total units, the complex offers one- and two-bedroom suites that range from $38,000 to $90,000. The first type of unit offers one bedroom, kitchen and balcony and has a gross area of up to 40.35 square metres.The next type offers a similar layout but has a more spacious layout and reaches up to 57.52 square metres.The most premium type of unit has a living room, two bedroom, a kitchen and two balconies. It has a total area of 68.08 square metres.Since the launching of the sales phase, the developers of V-House have already hosted 168 visitor groups. The massive interest in the project is undeniable. Potential buyers are already signing up.Whether you are buying a home or making an investment, there are high returns on the horizon. With a simple 10% down payment, you can get an affordable unit and set up success for your future.China’s One Belt, One Road policy is ramping up every day. The Cambodian economy is rising at a breakneck pace and now is the best time to get into the real estate market. Don’t let all this progress pass you by!Looking for real estate for rent in Phnom Penh or real estate for sale in Phnom Penh?Get more information about V-House

The Royal Group of Companies, one of Cambodia’s largest and most successful business conglomerates, and Singapore’s Hong Lai Huat (HLH) Group signed a Joint Venture Agreement (JVA) on November 1, moving them closer to undertaking a mixed-use development project in one of Phnom Penh’s most popular and developed commercial/residential areas.The JVA follows the signing of a Memorandum of Understanding (MOU) between the two parties in August 2018. In the MOU, Royal Group agreed to provide the land, while HLH Group is responsible for construction and operation of the project.The project will include the construction of a park and a mall on 80,000 square meters of land near the Royal University of Phnom Penh (RUPP) in Toul Kork. Height restrictions for structures located close to the Phnom Penh International Airport mean that the building will be limited to 12 storeys. Total investment for the project has yet to be disclosed.One of Phnom Penh’s most affluent areas, Toul Kork is host to numerous shopping centers, office complexes, condos, apartments, villas, and other residential, commercial, and mixed-use developments. The TK Avenue shopping mall and major property developments like The Parkway and TK Royal One are located in Toul Kork.  Hanna Mark, CFO, Royal Group of Companies, told the local media that work on the project will begin in a few months.  He said it will be a topnotch development that will be affordable to many people in the country. “This project targets locals and people residing in Cambodia with reasonable pricing and international quality finishes,” he stressed.Mr Mark mentioned that they look forward to an exciting and beneficial partnership with the Singaporean developer. “We are excited to partner with HLH as they have more than 30 years of experience developing property in Singapore. We wanted the project to benefit from Singaporean quality and standards,” he said.For his part, Ryan Ong, HLH Group Executive Director, said they have found the right partner in Royal Group. “We decided to partner up with the Royal Group because of their experience in the Cambodian market, which will helps us tailor the project to the needs of Cambodians,” he stressed. “This collaboration will result in a world-class property.”The new mixed-use development, which is targeted to be completed in two years, will be HLH Group’s second project in Cambodia. HLH Group is also the developer of the D’Seaview, a major mixed-use development project located in the port city of Sihanoukville.Royal Group has interests in numerous industry sectors, including transport, energy, media, insurance, real estate, trading, telecommunications, banking, and agriculture. In operation since 1998, the HLH Group has completed numerous residential, commercial, and industrial development projects in Singapore.Realestate.com.kh, Cambodia’s home of real estate, has the most up to date information for buyers, sellers and property enthusiasts! Sign up for our newsletter today and stay up to date with the latest info…Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The growth in Cambodia’s real estate sector has been turning heads as of late. Housing trends in the country are changing massively. Living standards and land values are going up.Another market, that of tourism in the Kingdom, is also witnessing a changing tide. As the number of incoming tourists rises, the amount invested into hospitality follows. Developers are now seeking to capitalise on Cambodia’s unique landscape by investing in retirement homes, vacation homes and eco-resorts.Each of the country’s 25 provinces offers something unique that developers are eager to highlight. Siem Reap seems to currently be leading the progress for eco-resorts, as the Angkor Wat complex is already one of top tourist draws. Eco-resort projects have also arisen in Preah Sihanouk, Kampot, Kep, Koh Kong, Ratanakkiri, Mondulkiri and Kampong Speu provinces, however.Teng Rithy, founder & chairman of R' Investment Group, said that Cambodia’s environment is fertile ground for eco-resorts to flourish. He claimed that investors should strive to create ecologically sustainable areas, in addition to resort buildings. Unlike nearby Singapore, where developers have to put millions into developing the land, the Kingdom’s environment already provides the foundation for nature-based getaways.Rithy himself has plans in the works for eco-resorts in Phnom Penh, Siem Reap and Kampot.“We are now doing feasibility studies to determine each province's potential location for these coming eco-friendly projects,” Rithy said.  Nearly 100 eco-focused resorts already exist across the country, such as Song Saa Private Island, Royal Sand Resort on Koh Rong, Koh Andet Eco Resort, Knai Bang Chatt Resort in Kep, Siem Reap’s Phum Baitang and Salty River Resort in Kampot.The possibilities for highlighting natural features are nearly endless, given the country’s vast beaches, forests, waterfalls, mountains and rivers.Diving deeper into the potential for Kampot province, Sok Ken, founder of real estate agency Kampot Property, said that province has seen rapid growth of eco-resorts over the last year.Ken attested that the area along the Kampot River has gotten the most attention. Plots up to 30 kilometres away have also been eyed for their natural beauty, however.Citing the access to mountains, rivers, forests and the ocean, Ken claimed there was still plenty of undeveloped potential in the region.“There are many untapped and hidden areas that no one has touched yet,” he stressed.“I believe there is still more opportunities because the majority of eco-resorts in Kampot are medium or small projects,” Ken added, claiming that the number of both domestic and Western tourists to the province is rapidly increasing.Touching on price ranges, Ken said that local tourists were often looking to spend between $15 and $30 a night at an eco-resort.Rithy noted that luxury accommodations in the country could go for as high as $3,000 a night. He urged developers toward creativity, however, saying that those bringing a new concept to the sector should have flawless plans. Everything from designs and construction to food, beverage and security needs to be thought out, he claimed.Nos Mathsary, a representative of Bamboo Bungalow in Kampot, said that the resort made use of hybrid designs with traditional bamboo and thatch surrounding modern amenities. Meanwhile, they tried to highlight the natural environment of the river.“We not only offer the best services but we also ensure safety and security,” Mathsary said.Looking to the future, Mathsary predicted that the province would see a stronger economy from the rising tide of tourists. What was once known as a sleepy province, he said, could become a hub for hospitality jobs.“Kampot will be well known both locally and internationally,” Mathsary said.Read more article about How to invest in Land in Cambodia for foreignersCheck out property for sale  in Kampot and property for rent in Kampot on Realestate.com.kh

Despite falling three places on the World Bank’s (WB) annual Ease of Doing Business ranking, Cambodia’s overall score improved. The report noted that obtaining construction permits is now less expensive in the Kingdom.Every year, the WB releases the report which ranks 190 nations by analysing regulations that either encourage or constrain business activity. Cambodia scored a 54.8 for the 2019 report, representing a gain of 0.41 over its score last year. The lion’s share of the growth was attributed to improvements in the process for dealing with construction permits. However, the report also noted that starting a business and getting electricity also became easier over the last year.Though the Kingdom still fell below the regional average score for the East Asia and Pacific region, its rank for ease of getting credit was 22 out of 190. Malaysia was reported to be a regional leader with a score of 80.6 which put it in the 15 spot on the list.The report included a case study that examined the cost and time required to establish a 1,300 square metre, two-storey warehouse in Cambodia. Twenty procedures associated with obtaining construction permits were allegedly required. These processes took a total of 652 days and cost 3.3% of the project’s total value of $64,457.Interestingly, the category dealing with construction permits was one of the Kingdom’s worst-performing metrics just two years ago. While both the time and number of procedures have stayed the same the permit costs have gone down.Last year, a similar WB case study showed that construction permits amounted to 5.3% of the warehouse’s value. The year before that, the same metric stood at 5.8%.**Matt Rendall, Darwin or Hans quoteDespite being below the regional average score, Cambodia was able to come up ahead of nearby Laos, which came up in the 154 spot.James Whitehead, CEO of yula.la, Laos’ leading general classifieds website and laorealestate.la, Laos’ first specialised real estate portal, noted that Cambodia’s northern neighbour was still a much more difficult place to start a business. “Lao citizens can hold ‘land use rights’ which is similar to ownership. Foreigners, on the other hand, can own buildings, but not the land they are built on,” he said, adding that foreign-owned business were often slow to get off the ground.

Poipet, a gambling, economic, and transportation hub which hosts Cambodia’s main crossing to Thailand, will soon have its first airport.The Cambodian government recently gave its approval to Poipet Airport Investment, a locally-owned entity, to undertake the massive project on more than 100 hectares of land in the Kingdom's Banteay Meanchey province.Sinn Chanserey Vutha, spokesman for the State Secretariat of Civil Aviation (SSCA), recently told local media that the same group received permission from the government to build an airport a decade ago. The plan was stalled for various reasons, however.“Actually, the company got permission to build the airport in 2007. They now want to start building, so they were required to submit the project for approval once again,” he said.Chanserey Vutha noted that Poipet Airport Investment already owns the land where the new airport is set to be built and that it is in a good position to undertake the project successfully."From what we know, they have the resources to complete the project,” he stressed.The project is expected to have a total investment of $40 to $50 million. Some reports have pegged the project costs at $45 million.Chanserey Vutha claimed that construction will begin in two years and aims to be finished in three to five. The planning and design stage is slated to begin next year and construction will commence in 2020.The project is expected to include the construction and installation of runways, a terminal building, a control tower, navigational aids, radar and associated air traffic control equipment.The proposed Poipet airport will mostly cater to domestic flights. Chanserey Vutha said it will be able to handle such jetliners as the Airbus A320 and Boeing B737. These two aircraft, which are known for their reliability, low fuel consumption and relatively easy maintenance, are popular with many regional and local airlines which use them for medium- and short-range route.Hopes that airport will boost Poipet's economyReactions to the Poipet plan have mostly been positive.Chanserey Vutha said it will help boost tourism and other commercial sectors in Poipet, noting that many special economic zones (SEZs) are located in Banteay Meanchey province.A host of eco-tourism sites, historic temples, wildlife sanctuaries, and other tourist attractions are also located in the northwestern province. While not as popular as those found in Siem Reap or Sihanoukville, they are slowly catching the eye of local and international visitors.There are currently four SEZs and one industrial zone in the province, including Poipet O’Neang SEZ, Poipet PPSEZ, and Sanco Cambo SEZ.Banteay Meanchey Deputy Governor Oum Reatrey said it will make travel to and from Poipet easier for those with business in the area. “It would improve transportation from Phnom Penh and Preah Sihanouk province for investors and businesspeople in the province,” he said.Aside from local entrepreneurs, there is also a sizable group of foreign investors in the province, mostly Chinese or Japanese who operate factories or other commercial endeavours within the SEZs.For his part, Ho Vandy, secretary-general of the Cambodia National Tourism Alliance (CNTA), told local media that the new infrastructure will be a boon to the town’s booming gambling industry.  “I believe the airport is a great idea because it will reduce transportation times for those that want to come to Poipet for gambling,” he said.Vandy said a new airport will benefit Poipet and the rest of Banteay Meanchey province.“Because of its proximity to Thailand, the province is of great interest to companies and investors. The new airport would allow businesspeople to travel from Thailand to Poipet in less than 30 minutes,” he pointed out.Poipet is in the middle of an economic boom, fuelled by investments in the manufacturing, real estate, tourism, and other sectors.There has been a flurry of airport improvement, construction and proposals in the Kingdom since last year.All three of Cambodia's international airports have undergone improvements this year. Additionally, plans have been announced for new airports in southern Koh Kong province and in Kandal province just south of the capital. Many have speculated whether the massive Kandal project will ever see the light of day. If completed it would become one of the largest airports in the world.Search properties for sale in Poipet and current properties for rent in Poipet!