The Realestate.com.kh Property, Business & Lifestyle EXPO 2024 returns from 19-20 October 2024, and the Kingdom’s largest expo of its kind will once again highlight the leading property developers, banks and financial institutions and services as well as lifestyle brands, expected to attract thousands of visitors to Premier Center Sen Sok.With the Property, Business & Lifestyle EXPO 2024 making exclusive deals and promotions available to attendees, over 100 of Cambodia’s leading borey and condo developers, banks, insurance providers and other key services and lifestyle brands will be present at the massive MICE event, creating a vibrant marketplace of investment & retail opportunities.The EXPO is part of Realestate.com.kh's annual events, offering unique opportunities to the Cambodian market and the chance to engage with industry-leading businesses. There are still limited available slots for potential exhibitors to be involved in one of the biggest business and consumer events of 2024.Who Is Attending The Property, Business & Lifestyle EXPO 2024?Some of the Kingdom's biggest names will be in attendance this October, with renowned property developers such as Chip Mong Land, Prince Real Estate Group, Canopy Sands Development, Borey Lorn City, and Borey Phum Sakura already confirmed.It's a who’s who of anyone linked to Cambodian property that will be present at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024 but also other leading industries helping shape the future of the economy - with the banks and insurance companies exhibiting and running special loan offers and coverage packages for your home and other property needs as well as legal firms, and trust companies.For investors and property buyers, the EXPO is the prime opportunity to take advantage of some of the best deals ever available offering a seamless buying experience to secure your property in a hassle-free environment face-to-face with the leading property experts and developments and service providers able to discuss comprehensive solutions and services designed to support your investment journey.Why Get Involved - Major Sponsors & Key SupportersSome of the biggest commercial and corporate names in Cambodia will be involved at the EXPO in 2024 but there are still limited opportunities available.There will also be property and business-related seminars, delivered by leaders in the industry on topics such as real estate trends; how to find the best opportunities in the market; what to look for when buying your first home; updates on Cambodia's economy; and future infrastructure developments. Popular with middle-class and affluent Cambodians, as well as expatriates and foreign property investors, the EXPO is an ideal marketing platform for businesses and an ideal marketplace for consumers and investors. Traditionally Cambodian attendees make up half of the participants with a healthy number of Chinese and other foreign attendees from the West and the Asian region including Singapore, Malaysia, Thailand, Vietnam, China, Hong Kong, Japan, and Korea.Click here to register for express entry or inquire about being an exhibitor.Record-Breaking Expos in CambodiaReal estate and lifestyle expos from realestate.com.kh have a reputation for a series of record-breaking successes.  The Real Estate EXPO held at the Premier Centre Sen Sok Phnom Penh in 2022 broke the country’s biggest property sales record, recording more than USD $30 million in sales and attracting over 12,000 visitors.In 2023 there were once again more than 10,000 attendees, with hundreds of Cambodia’s biggest brands, developers, agencies, banks, and insurance companies and more than USD $15 Million worth of property was sold!Nearly 40 local and international media are engaged in providing coverage of the EXPO via a range of broadcast mediums leading up to October 2024!Premier Centre Sen Sok Offers World-Class Event FacilitiesFor vendors and attendees at the 2024 Realestate.com.kh Property, Business & Lifestyle EXPO, Premier Center Sen Sok is a popular and well-known event venue in a strategic location which offers wide open spaces, accessible transport links and is directly adjacent to AEON Mall Sen Sok, one of the largest purpose-built shopping malls in Cambodia today.On-site, there will be international standard exhibitor booths, food and beverage and plenty of parking available with dedicated rooms set to host strategic seminars.What promises to be two engaging, insightful and informative days for the whole family, will feature several activities and an enticing selection of food and beverages.Pre-registration is LIVE now - you can sign up to get express entry at the event and updates on who will be joining the Property, Business & Lifestyle EXPO 2024.Contact InformationTel: (+855) 92 92 1000Email: stefania.khiem@realestate.com.kh

Nestled away in the center of Southeast Asia, Cambodia has become a vibrant and alluring destination for international investors. With a youthful and expanding population, a thriving economy, and a rich cultural legacy, Cambodia presents an ideal environment for investment. Sharing borders with Thailand, Vietnam, and Laos, the nation's advantageous location serves as a gateway to the larger ASEAN market, which is home to more than 650 million people.The economy of Cambodia has shifted from its agrarian roots to include thriving industries like textiles, tourism, construction, and real estate thanks to the government's strong promotion of foreign direct investment (FDI) through a variety of incentives. Navigating Cambodia's legal environment, especially its foreign ownership in Cambodia’s regulations, can be difficult despite the country's great potential.These regulations place particular limits, particularly on foreigners' direct land ownership, in an effort to strike a balance between promoting investment and national interests. However, options like long-term leases and ownership of stratum titles provide foreign investors feasible paths. Introduction to Cambodia's Investment LandscapeOver the past ten years, foreign investors have found Cambodia's investment landscape—particularly in the real estate sector—to be increasingly alluring. Together with a young and vibrant labor force, the nation's advantageous Southeast Asian position has accelerated economic expansion and urbanization. There is a real estate boom in major cities including Phnom Penh, Siem Reap, and Sihanoukville due to an increase in demand for residential, commercial, and industrial properties.Through the implementation of investor-friendly regulations, such as the creation of Special Economic Zones (SEZs) and the streamlining of the business registration procedure, the Cambodian government has been instrumental in promoting this growth. Furthermore, by providing preferential market access, Cambodia's membership in regional trade agreements—most notably the ASEAN Economic Community (AEC)—improves its attractiveness. Despite these advantages, foreign investors must carefully navigate foreign ownership in Cambodia’s laws and requirements, which are distinct and can be complex. For instance, while foreigners are allowed to own property in Cambodia, they cannot own land outright but can hold strata titles for properties above the ground floor. Understanding these legal nuances, including leasehold arrangements and investment incentives, is essential for mitigating risks and ensuring a smooth entry into Cambodia's vibrant real estate market. This foundational knowledge equips investors to capitalize on the opportunities while adhering to local regulations, thereby fostering sustainable growth and profitability. Legal Framework for Foreign OwnershipThe legal framework governing foreign ownership in Cambodia is primarily derived from the Cambodian Constitution, the Law on Investment (LoI), and the Land Law. Understanding these laws is essential for foreign investors seeking to establish a presence in the country.The Cambodian ConstitutionThe Cambodian Constitution is the supreme law of the land. It plays a crucial role in shaping the country's real estate landscape. Article 58 of the Constitution establishes that land and other natural resources in Cambodia are considered state property, which has significant implications for foreign ownership. Article 44 further reinforces that "only natural persons or legal entities of Khmer nationality shall have the right to land ownership."  This effectively prohibits foreign individuals and entities from directly owning land in the country.However, the Constitution does allow for foreign investors to acquire land through long-term leases ranging from 15 to 50 years, as well as to own buildings and structures through locally incorporated companies where Cambodian nationals hold at least 51% ownership.  These legal structures enable foreign investors to participate in Cambodia's real estate market while adhering to the constitutional restrictions on direct land ownership.The Law on Investment (LoI)The benefits and protections offered to foreign investors are outlined in the Law on Investment, which was first enacted in 2003 and revised in 2021. By providing security from state meddling, guarantees against nationalization, and the ability to transfer funds and earnings overseas, it seeks to foster an environment that is favorable to investment.The main organization in charge of overseeing and promoting foreign investment in Cambodia is the Council for the Development of Cambodia (CDC), which is home to the Cambodian Investment Board (CIB). For investors, the CDC offers one-stop services that expedite the process of acquiring required permits and approvals.The law itself aims to create an open, transparent, and favorable legal environment to attract both domestic and foreign investment. Specifically, the law provides important provisions related to real estate investments. It allows foreign investors to acquire long-term leases of up to 50 years, with the possibility of extension, to access land and property. The Land LawThe Land Law of Cambodia, initially implemented in 2001 and subsequently modified, is the basis of the nation's real estate industry. The legislation defines the procedures for transferring and registering land and makes clear several forms of property rights, including as ownership, leases, and concessions.Only citizens of Cambodia and legal companies with at least 51% Cambodian ownership are permitted to directly possess land under the Land Law. Nonetheless, foreign investors can purchase buildings and structures through locally incorporated firms and obtain long-term leases of up to 50 years.The law also allows foreigners to own up to 70% of private units in co-owned buildings, such as condominiums, from the first floor up, excluding the ground and underground floors. The Land Law, along with the 2007 Civil Code and the 2011 Law on the Implementation of the Civil Code, forms the main legal framework governing real estate transactions in Cambodia. At Last, Foreign ownership in Cambodia laws present both opportunities and challenges for investors. While restrictions on land ownership and sector-specific regulations exist, the country offers a favorable investment climate with numerous incentives and protections. By understanding the legal framework and adopting best practices, foreign investors can successfully navigate the Cambodian market and capitalize on its growth potential.FAQsCan foreigners own land in Cambodia?> No, foreign individuals and entities are not allowed to directly own land in Cambodia. However, they can acquire land through long-term leases (15–50 years) or by setting up a landholding company wherein Cambodian nationals hold at least 51% ownership.What types of properties can foreigners own in Cambodia?> Foreigners can own condominium units in Cambodia, provided that the total foreign ownership in the building does not exceed 70%. They can also hold leasehold properties for 15 to 50 years, with the possibility of extension.How does the new Law on Investment affect foreign investors?> The new Law on Investment aims to modernize Cambodia's investment environment by simplifying registration procedures, strengthening investor guarantees, and encouraging investments in strategic sectors. It offers incentives such as income tax exemption and customs duties incentives for qualified investment projects.Will the reinforcement of foreign ownership laws be made retrospective?> Based on precedents in other areas, there have been no retroactive penalties or nullification of sales for properties transferred into a foreigner's name. However, the future consequences for foreigners holding soft title properties in their own name remain unclear.What is the process for foreigners to acquire property in Cambodia?> The key steps include conducting due diligence, consulting with a lawyer, negotiating the purchase, signing the contract, making the payment, applying for property registration, paying taxes and fees, and obtaining the property title.

We are past the halfway mark in 2024, and diversifying the range of international investment into Cambodia has been a key shift of the government under Prime Minister Hun Manet and part of the Pentagonal Strategy which aims to grow employment, equity, efficiency and sustainability to and work towards realising the Kingdom’s goal of becoming a high-income country by 2050.We look at some of the key international diplomatic and economic missions that have seen deals signed in the first half of the year, and how competitive the Kingdom is in making it easy for international investors to visit.Cambodian Investment 2024 To DateIn alignment with the Pentagonal Strategy implemented by the Cambodian Royal Government in 2023, the Asian Development Bank (ADB) launched its new country partnership strategy for Cambodia for the same period of 2024-2028. Just one aspect of this is plans to accelerate private-sector-led economic diversification and also a focus on climate adaptation initiatives in agriculture, water resource ecosystems, and urban infrastructure.The latest report from the Council for the Development of Cambodia (CDC) released in July, indicated they have thus far approved 190 new projects, production expansion projects, and special economic zone investment projects worth a total investment of USD $3.2 billion in the first half of 2024.The industrial sector accounted for USD $1843 million (over 55 per cent), and infrastructure and other sectors at about USD $753 million (23 per cent).From a real estate development and property perspective, these investments include:Establishing and operating 2,870 five-star room hotels and business centres located in Sangkat 4, Sihanoukville, with an investment capital of over USD $500 million.An investment project to construct a multi-purpose port and logistics centre in Kampong Chhnang, with an investment of over USD $100 million.Increasing International Economic Investment & AgreementsMost recently, following a meeting between Prime Minister Hun Manet and Japanese Foreign Minister Kamikawa Yoko, Japan and Cambodia agreed in principle to expand cooperation on infrastructure with the development of the Sihanoukville Autonomous Port as a key focus, while there are ambitions to further attract Japanese investment.It was also reported that the Japanese government will provide approximately USD $2 million in financing for Cambodia to expand its electricity network in the Cambodian capital.July 2024 also saw the Cambodian Prime Minister meet with the Ambassador of Malaysia, and the Ambassador of Germany to Cambodia to look at ways of boosting and facilitating trade and investment as well as specific projects in the commercial and tourism sector, for example.The second France-Cambodia Business Forum is also taking place in July 2024 with sectors such as construction and infrastructure, digital technology, healthcare, energy, urban planning, tourism, logistics and transportation, agriculture and agri-food, all under discussion.There were also key State visits to France, South Korea, Laos, Thailand, and Australia in 2024 which all announced economic developments and Memorandum of Understandings across a range of sectors.Read more on the Top 5 Reasons Why Investors Choose Cambodia.Visas and Entry to CambodiaIn July 2024, Cambodia implemented a new e-immigration application process for all arrivals, including tourists, expats, and Cambodians.  The Cambodia e-Arrival (CeA) scheme requires travellers to complete an online application within seven days of arrival even if they have been granted a visa (having completed this recently, it's a very simple process and much more convenient than the old paper system - which was still an option to arriving passengers on our flight in July 2024.)Visas still need to be applied for separately, and this is one area where Cambodia is arguably falling behind its regional neighbours.Thailand has visa-free entry for a number of countries (and actually no paperwork, physical or digital, is required), whereas Vietnam has also extended the length of stay for visas or a select number of countries. Competition for Chinese visitors in particular is increasing, and Laos has also announced temporary visa facilitations from July until the end of the year which offer citizens of China, including Hong Kong, Macau, and Taiwan, visa-free travel for up to 15 days. Citizens from certain European countries can also visit Laos visa-free for up to 15 days for tourism. The duration of stay for a multiple-entry visa has been increased from 30 to 60 days and citizens of 22 countries can apply for multiple-entry visas.Indonesia also announced plans to allow for visa-free travel to citizens of 20 countries (including China and India).Can Foreigners Own Land in Cambodia?As a reminder for all foreign investors, direct land ownership is restricted to Cambodian citizens or Cambodian entities, however, there are alternatives for foreigners who want to control land in the Kingdom. Find out more in Five Things To Consider Before Buying Property in Cambodia.Establishing A Landholding Company: Foreigners can buy land by forming a Cambodian company, which must have at least 51% Cambodian ownership.Trust Company: Allows a foreigner to buy land in Cambodia through a trust company, which must be registered with the Ministry of Economy and Finance. This covers various types of real estate including land, with the company acting as the property manager.Leasehold Property: Foreigners can buy a leasehold property, giving them 15 to 50 years of access to the property, renewable for another 50 years. This allows them to develop and construct structures on the land, though the land itself remains state-owned.Nominee Structure: Foreigners may seek a legitimate partnership with a Khmer citizen or use a nominee arrangement where a local acts as a silent shareholder.Not nationally implemented, but the Special Investment Promotion Program For Sihanoukville In 2024 offers another alternative investment mechanism in this specific region.

Property developers have embraced the concept of modern living in Cambodia and the expectations and demands of buyers and tenants have changed as they are spoiled for choice and the general levels of income have continued to rise in the KingdomCondo developers have integrated functional spaces into homes, taken on board sustainability and environmental concerns, and appreciate certain amenities expected. The amenities can be highly sought after to improve the quality of life as trends in creature comforts diversity while they also have the potential to add value to a property and can help attract buyers in a competitive market. We look at some of the ways property developments in Cambodia have tailored amenities to the local market and what amenities are most sought after in Phnom Penh.Amenities Which Are Expected In Contemporary Phnom Penh CondosSome of the previous most sought-after amenities in Cambodia were covered here and included:High-speed WiFi: This is considered a necessity for most tenants, as tenants and homeowners use the internet on a daily basis socially, for entertainment and for work, especially in the remote-working era post-pandemic. Air Conditioning: Having an AC is considered essential for comfort in Cambodia's tropical climate, especially in urban areas like Phnom Penh and considering 2024 was one of the hottest seasons on record, with indications of more extreme weather predicted in the years to come.Swimming Pools: A popular amenity, swimming pools have become more standard at the best condos and are a huge benefit for those living in condos as a means of relaxation and exercise, and a means of socialising and entertainment. Don't disregard the many selfies that help promote developments which highlight pool areas and sunsets/sunrises in the Kingdom. Many of the condos under development are using infinity and rooftop pools as key selling points with stunning views of the city and the surroundings.Dedicated Parking: Having secure allocated parking spaces or garages within the condo building is increasingly sought after by many tenants, and the use of vehicles (not just motos) has been increasing in Cambodia as incomes rise.Security: 24-hour security guards, CCTV cameras in public areas, and controlled access for non-residents are important and expected security features and something international and local tenants and buyers look for in condos for peace of mind.Below we highlight some of the newer Phnom Penh condominium projects and the range of features as well as contemporary and modern amenities and innovations appealing to buyers and being implemented by trusted developers as they attract local and foreign buyers in a competitive market in Cambodia.Green Spaces Are In DemandThere has been a growing demand for green spaces in both residential living spaces as citizens become more aware of the importance of the environment in their well-being & developers are trying to incorporate green spaces into condos in the city. Examples are canopy rooftop gardens, landscaped gardens, dedicated green areas, and even outdoor parks on higher floors of the condos.Integrated Wellness - Changing Buyer HabitsMany condos offer on-site fitness facilities, often located on the top floors of the building and a holistic approach means wellness facilities are becoming an integral part of residential projects and of course condos.The addition of gyms and pools is not new in residential projects in Phnom Penh, but developers are incorporating elevated choices for residents which include boxing rings, saunas, and yoga studios.Healthcare within the comfort of one's own home is highlighted with the recent launch of JTower 3's residential project which integrates 24-hour nursing services for residents, and immediate healthcare assistance (a current rare offering in Phnom Penh). Residents will have access to an array of wellness facilities, which appeals greatly to those desiring a healthier lifestyle.Smart Home Technology - Preferred AmenityAs technology increasingly intertwines with our daily lives, the concept of the smart home has also emerged in new property developments. A smart home leverages the internet allowing devices within the home to communicate with each other and be managed remotely via a common network. Tech trends are being followed more closely in Cambodia, but for international buyers, incorporating aspects such as smart locks, lighting, entertainment systems and more is an expectation.For example, Le Condé BKK1 is one of Cambodia's first property developments to feature an integrated smart home system. These systems are designed to enhance tenants' functionality and comfort while improving their homes' overall safety. The smart home technology they offer includes the wireless control of doors, lighting, curtains, music, and temperatures, as well as timer controls, automated cleaning, and energy-saving measures.3 Examples Of Modern Entertainment & Leisure Facilities In Phnom Penh CondosWhen it comes to entertainment, Phnom Penh has a lot to offer, and many of the winners of the Cambodia Real Estate Awards 2024 were celebrated for their designs, features and range of amenities they offer in the ever-evolving Cambodian capital.Leisure facilities integrated within residential buildings are becoming more creative and these additions ensure that residents can fully enjoy themselves in the comfort of their own homes.Time Square 6 (also known as Time Square 302) -  located in Boeung Keng Kong I (BKK1), with close access to embassies, and a range of retail and food and beverage outlets, However its offers more reasons for tenants to never stay on site with its in-built entertainment options including a ping pong room, golf simulation, a lounge, cafe and games room, a kid's play area, a cinema room & karaoke, and a bowling alley!Le Condé BKK1 - Also located in the central and highly desirable BKK1 area of the capital, the development is a mixed-use luxury development and includes the BKK Avenue Retail Store, a 240-meter sky jogging track, an indoor swimming pool, a fitness centre, a children's play area and a sky garden as well as an infinity pool.J Tower 3 - Highlighting its amenities, the sky bar and infinity pool on the 77th floor are set to enter the Guinness World Record as the world's highest swimming pool. For the residents' exclusive use, the 50th floor will feature a lounge, cafeteria, shopping, and business rooms, while the 49th floor will boast a luxurious indoor pool, spa, and sauna. Additionally, recreational facilities on the 11th floor will include a bowling alley, billiards, and a karaoke room. The amenities above all help to offer developers more attractive selling points and for landlords to make their properties more appealing to potential renters and buyers in the Phnom Penh condo market.Of course amenities and fixtures shouldn’t be the sole factor to make or break a buying decision, these added benefits are being asked about more frequently in the Cambodian property market and certainly are factors buyers and tenants are considering due to the array of choices available and the question of having a better quality of life at home.

The Realestate.com.kh Property, Business & Lifestyle EXPO 2024 is coming this 19th and 20th of October 2024 (Saturday and Sunday), and it’s bringing exclusive deals and promotions from Cambodia’s leading borey and condo developers, banks, insurance, and many services for your home needs!A WORLD-CLASS VENUEThe Realestate.com.kh Property, Business & Lifestyle EXPO 2024 will be held at the Premier Center Sen Sok. This grand venue is well-known among Cambodians, expatriates, and foreign investors for its wide spaces, accessible roads, and is directly adjacent to AEON Mall Sen Sok, one of the largest purpose-built shopping malls in Cambodia today.WHO WILL BE AT THIS YEAR’S EXPO?Anything and everything related to Cambodian property will be at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024, including the most renowned property developers such as Chip Mong Land, Prince Real Estate Group, Canopy Sands Development, Borey Lorn City, Borey Phum Sakura and more.But buying a property is usually more than just the property itself. And this is where the advantage of buying at the EXPO truly shines. Not only will buyers be able to secure some of the best deals ever at the event, but the leading banks and insurance companies will also be exhibiting and running special loan offers and coverages for your home and other property needs. Buying and securing your property does not need to be a hassle when you can do it all at Realestate.com.kh’s Property, Business & Lifestyle EXPO 2024!It promises to be a fantastic day out for the whole family, featuring an array of engaging activities complemented by a delightful selection of food and beverages by the provided sponsors.CAMBODIA’S BEST REAL ESTATE SEMINARS & TALKSVisitors will be able to attend property and business-related seminars, delivered by leaders in the industry. Seminars will include real estate trends; how to find the best opportunities in the market; what to look for when buying your first home; updates on Cambodia's economy; and future infrastructure developments.A LOOK BACK ON THE 2023 EXPO More than 10,000 attendees, 100’s of Cambodia’s biggest brands, developers, agencies, banks, and insurance companies gathered for the country’s biggest property show of the year. The Real Estate EXPO 2023 held at the Koh Pich Exhibition Center last August was a success with over $15 Million worth of property sold over the weekend. The EXPO has solidified itself as part of the industry’s calendar of events as middle-class and affluent Cambodians, as well as expatriates and foreign property investors, attend the EXPO successfully securing the best deals and opportunities in real estate. Pre-registration is LIVE! Sign up now to get express entry at the event and updates on who will be joining the Property, Business & Lifestyle EXPO 2024 this coming October 19th and 20th. Register now!  RESERVE A BOOTH OR REGISTER TO ATTEND

Starting next month, Cambodia will implement a new e-immigration application process for all arrivals, including tourists, expats, and Cambodians.  The Cambodia e-Arrival (CeA) scheme requires travellers to complete an online application within seven days of arrival even if they have been granted a visa.This new system, accessible via a mobile app, is designed to replace the previous paper-based system, making the arrival process more streamlined and efficient. The official website for the scheme, www.arrival.gov.kh, states that the registration process is free of charge. For those who fail to complete the process before arriving, tablets will be available at immigration for on-the-spot registration. By adopting this new digital approach, Cambodia aims to enhance the efficiency of its immigration process, ensuring a smoother experience for all travellers entering the country.Application Process:Registration:Travellers must first register by taking a photo and uploading their passport information.Complete E-Arrival Card:The new system replaces the old paper immigration, health, and customs declaration forms. Travellers will complete these details digitally.QR Code Generation:Once the application is complete, a QR code will be generated. Travellers should save this QR code on their phones or present a printout to immigration upon arrival.The CeA mobile apps can be downloaded for iOS here and Android here.Video Tutorial: Are you interested in buying property in Phnom Penh, Cambodia? Our customer service team is ready to assist you. Contact us via:📞+855 92 92 1000📧 info@realestate.com.kh🌐 www.realestate.com.khEasy, Fast & FreeRealestate.com.kh helps you find your dream property or real estate investment in Cambodia.

Preah Sihanouk Province, Cambodia’s dynamic coastal hub, is undergoing a dramatic transformation. With the unveiling of a comprehensive 15-year master plan, the region is set to redefine itself as a multi-purpose special economic zone (SEZ), balancing economic growth with sustainable development. At the heart of this transformation lies the ambitious goal of attracting up to $20 billion in private-sector investment, while addressing the social and environmental needs of the local population.A Vision for Sihanoukville’s FutureAt the two-day investment summit held on December 17-18, 2024, government officials and private stakeholders showcased their vision for Sihanoukville’s future. The master plan, which takes into account input from neighboring provinces like Kampot, Kep, and Koh Kong, focuses on developing four specialized zones:TourismIndustryLogistics and TradeFinanceChea Kok Hong, head of the master plan secretariat, emphasized the plan’s focus on efficient zoning and infrastructure development to support these key sectors. These specialized zones will ensure better resource allocation, integrated urban planning, and targeted policies to encourage investment in strategic industries.The government’s strategy doesn’t stop at infrastructure. It extends to creating a business-friendly environment through streamlined customs procedures, tax incentives, and trade liberalization policies. These measures aim to make the province more competitive on the regional stage, ensuring long-term economic viability.Driving Economic Growth While Solving ChallengesOver the past year, Sihanoukville has already made notable progress in attracting investment. The Preah Sihanouk Province Investment Promotion Working Group facilitated incentives for 213 projects in 2024 alone, far exceeding the original goal of 100 projects. These efforts attracted $6 billion in investment and created 40,000 jobs, significantly surpassing the targeted $1 billion and 5,000 jobs.Key sectors driving this growth include manufacturing, tourism, real estate, logistics, agriculture, and food processing. These industries will be supported by "backbone infrastructure" such as:Transport Facilities: Upgrades to the Phnom Penh-Sihanoukville Expressway and the deep-sea port to streamline connectivity and trade.Urban and Social Facilities: Investments in residential projects, public services, and smart technologies to improve living standards.Sustainability Measures: Ensuring the development of coastal assets aligns with environmental best practices.However, challenges remain. Economist Ky Sereyvath highlighted the importance of addressing governance, law enforcement, and public services to maintain investor confidence. Chinese investors have expressed concerns about complex business registration processes and the risk of exploitation by local officials, issues that could deter future investment.As Sereyvath pointed out:"Sihanoukville’s success will require more than financial incentives. A commitment to good governance and transparency is crucial to build and sustain trust with investors."Balancing Development and SustainabilityA critical component of the master plan is ensuring sustainable development. With Sihanoukville’s natural beauty and coastal resources serving as major draws for tourism and real estate investment, the government is committed to preserving the environment.Key Initiatives for Sustainability:Environmental Protection: Coastal developments will adhere to strict sustainability guidelines, minimizing the ecological impact on Sihanoukville’s beaches and marine ecosystems.Smart Infrastructure: The integration of smart technologies in urban planning will optimize resource usage, reduce waste, and improve energy efficiency.Population Growth Management: As Sihanoukville’s population is projected to grow from 300,000 to one million under the master plan, investments in social facilities like schools, hospitals, and public spaces will ensure the city remains livable for both residents and tourists.Connectivity: A Gateway for Regional Trade and TourismSihanoukville’s transformation hinges on its connectivity to regional and global markets. The province’s strategic location along Cambodia’s southern coast positions it as a vital gateway for trade, tourism, and logistics.Recent connectivity upgrades include:Air Connectivity: AirAsia Cambodia introduced new flight routes between Sihanoukville and Kuala Lumpur in July 2024. Additionally, Cambodian Prime Minister Hun Manet is negotiating for direct flights from Singapore to Sihanoukville.Maritime Routes: The “One Market, Three Destinations” initiative seeks to establish a maritime route connecting Thailand, Cambodia, and Vietnam. This would link Sihanoukville with Thailand’s Trat province and Vietnam’s Kiên Giang, promoting tourism, trade, and cultural exchange.Deep-Sea Port Upgrades: Expanding and modernizing the Sihanoukville port to increase cargo capacity and improve logistics efficiency.These initiatives aim to position Sihanoukville as a regional hub, supporting the government’s long-term vision for economic integration with ASEAN and global markets.Realestate.com.kh: Connecting Investors to OpportunitiesFor those looking to navigate the real estate market in Sihanoukville, platforms like Realestate.com.kh are invaluable. As Cambodia’s leading property portal, Realestate.com.kh provides critical insights into market trends, zoning regulations, and available investment opportunities. Its resources can help investors make informed decisions in this dynamic region.Sihanoukville’s Bright FutureSihanoukville’s transformation from a coastal town to a multi-purpose special economic zone is an ambitious yet achievable vision. The province’s strategic location, robust infrastructure plans, and targeted incentives make it a prime destination for investment in Cambodia.However, true success will require balancing rapid development with sustainability, ensuring long-term growth while protecting the province’s unique natural and cultural assets. By addressing its challenges head-on and delivering on its promises, Sihanoukville has the potential to become a model for economic growth and environmental stewardship in Southeast Asia.As Cambodia’s gateway to global trade and a rising star for tourism and industry, Sihanoukville’s master plan offers investors a unique opportunity to be part of an exciting chapter in the Kingdom’s development.

Property developers have embraced the concept of modern living by integrating more than just functional spaces into homes. Amenities are highly sought after by tenants as they enhance the quality of life and add value to the property. Property developments in Cambodia are no exception to this trend.This short article highlights condominium projects in Phnom Penh that feature the best new amenities and innovations.Integrated WellnessWellness facilities are becoming an integral part of residential projects. However, the addition of gyms and pools is not new in residential projects, but some developers are aiming to go beyond the basics to offer more choices to residents. New offerings on amenities such as boxing rings, saunas, yoga studios, and dedicated green areas.JTower 2 gym area also encompasses a boxing ring facility. (Supplied from JTower 2)Healthcare within the comfort of one's own home has been highlighted with the recent launch of JTower 3's residential project. The project integrates 24-hour nursing services for residents, providing immediate healthcare assistance, which is unique in Phnom Penh. Besides enjoying a comfortable home, residents will have access to an array of wellness facilities, an extra mile that appeals greatly to those desiring a healthy lifestyle.More About JTower 3: JTower 3 is set to become a landmark in Phnom Penh as the country’s tallest building with a 77th floor. Living at JTower 3 will be the epitome of luxury living, its 3-bedroom unit only is designed with a modern and spacious interior that is perfect for families, or couples. Moreover, the amenities are well-rounded from relaxation to wellness.Developer Tanichu Assessment Co Ltd is well-known in Cambodia for its recent project JTower 2, and the outstanding capital appreciation following a few months of its launch. JTower 3 is expected to be completed by the end of 2028.To learn more about JTower 3, click hereSmart Home TechnologyAs technology increasingly intertwines with our daily lives, the concept of the smart home has also emerged in new property developments. A smart home leverages the internet allowing devices within the home to communicate with each other and be managed remotely via a common network.Le Condé BKK1 is one of Cambodia's first property developments to feature an integrated smart home system. These systems are designed to enhance tenants' functionality and comfort while improving their homes' overall safety. The smart home technology allows for wireless control of doors, lighting, curtains, music, and temperature. It also includes timer controls, automated cleaning, and energy-saving measures.Studio unit showroom display at Le Condé BKK1 .(Supplied from Le Conde BKK1 )1-Bedroom showroom display at Le Condé BKK1. (Supplied from Le Condé BKK1)Entertainment & Leisure FacilitiesWhen it comes to entertainment, Phnom Penh has a lot to offer, but what if you could enjoy it even closer to home?Picture this: Enjoying a morning coffee with stunning views, a children's playground, a cinema room, and karaoke facilities, all without leaving the premises—not just in a mall, but right where you live!When it comes to entertainment, the ‘Times Square Residential Series offers a variety of facilities to please individuals, families, and couples. The recently launched Time Square 302 and Time Square 7 include new entertainment options such as a theatre, bowling alley, lounge, golf simulator, karaoke room, and children's playground. Leisure facilities integrated within residential buildings are becoming more creative and these additions ensure that residents can fully enjoy themselves in the comfort of their own homes.Render image of the kid’s playroom at Time Square 302. (Supplied from Time Square 302)Render image of the lounge area at Time Square 302. (Supplied from Time Square 302)Render image of the cinema at Time Square 302. (Supplied from Time Square 302)More about ‘Time Square Residential Series': Megakim Corp Ltd, the Taiwanese Cambodian developer behind the ‘Time Square Residential Series,’ has made a significant mark in Phnom Penh’s real estate market. After the success of Time Square 1 in BKK1 and Time Square 2 and 3 in Tuol Kork, the developer is set to continue its success story with new projects Time Square 306, Time Square 302 and Time Square 7 in the city.Megakim Corp Ltd is highly regarded for its reliability and consistent project completion. The Time Square projects boast prime locations in Phnom Penh, modern quality designs, state-of-the-art appliances, and affordable pricing, making them ideal investments.Time Square 302, located in BKK1, and Time Square 7 in Tuol Kork offer a variety of leisure amenities to ensure residents can enjoy a comfortable and entertaining lifestyle at home. These are the 6th and 7th projects by the developer and are scheduled for completion in 2027.To learn more about Time Square 302, click here & Time Square 7 click hereAre you interested in buying property in Phnom Penh, Cambodia? Our customer service team is ready to assist you. Contact us via:📞+855 92 92 1000📧 info@realestate.com.kh🌐 www.realestate.com.khEasy, Fast & FreeRealestate.com.kh helps you find your dream property or real estate investment in Cambodia.

It is fair to say that the Cambodian property market continues to see a correction in mid-2024 and that the buyer profiles for condos and other properties on the market have changed over recent years. There is still a healthy interest from overseas but regionally there are deals to be had and buyers and investors are paying close attention to geo-political tensions, interest rate cuts, and in the most election-saturated year in the record books, any potential shifts in markets.Condos do remain of course the most popular property asset for international buyers in Cambodia due to the supply and legality for foreign owners, but the legal Trusts and commercial property opportunities have raised interest too.So what are some of the key things to consider before putting physical or digital pen to paper for buying such a property in the Kingdom?Are The Cambodia Property Buyer Profiles Changing? With the context that there are more Cambodian buyers in the market for a variety of reasons, including better-targeted marketing and builds catering to local tastes, it goes without saying that Cambodians have the right to buy any property in the Kingdom if they have the finances.In 2022, foreign condo property sales accounted for 65% of all condo sales according to realestate.com.kh – and one & two-bedroom condos were most in demand.There are also more loan and property mortgage options available to Cambodian passport holders but this will more than likely require collateral such as land. The options for non-Cambodians are far more limited, if available at all.There are still many desirable condos being developed, in Phnom Penh in particular, and the condo supply is expected to increase significantly by 2025, with mid-tier developments dominating the future supply - so definitely do your research.The condo supply was projected to reach nearly 80,000 units by 2025 in the capital. Mid-tier condo developments will dominate the supply as property developers target Cambodia’s emerging middle class as well as expatriates residing in the Kingdom and foreigners buying from abroad. The ambitions of the government should see Cambodia graduate from the Least Developed Country (LDC) status in 2029, and according to the World Bank Country Lending Group guidelines, the lower-middle-income economies have a per capita income between $1,086 and $4,255 and the upper-middle-income economies between $4,256 and $13,205, while high-income economies have a per capita income of $13,206 or more.You can also find out more about renting a property in Cambodia here which includes some top tips.Cambodian Property Titles and OwnershipThe preferred property title in Cambodia is a Hard Title, which is recognised nationally and provides detailed information about the property and with condos should be a standard feature when being purchased. There have been efforts to digitise titles and claims due to the number of disputes when it comes to land in particular.Land and property ownership can be complex for foreign-owned businesses and foreigners in Cambodia to understand - however, foreigners can buy and own property in Cambodia and legally own condos in Cambodia.For foreigners, as we have regularly reported, restrictions mean they cannot own land outright in Cambodia, but they can own properties such as condominiums under a Strata Title, provided at least 30% of the other properties in the building are owned by Cambodians. A Condominium Certificate of Title (CTC) will be registered under the foreigner’s name too.Broadening Out From Condos - Commercial Property Opportunities In CambodiaAt the JCI ASPAC Angkor 2024 panel discussion, Neak Oknha Sear Rithy, Chairman of WorldBridge Group, mentioned that in the property sector, there are major opportunities available for local and foreign investors, such as commercial property like logistics infrastructure, as well as tourism properties, agricultural properties and other infrastructure properties. Rithy said that the price of land per sqm is as much as USD $10-12,000 in Vietnam in the CBD but it's more likely to be USD $5,000 in Cambodia. For Industrial or commercial spaces he estimated prices to be approximately USD $100 or less while in neighbouring countries this figure will be around USD $200-300 per sqm.For warehouses and factories in Cambodia, lease terms typically range from 5-10 years, accommodating long-term industrial activities, but shorter agreements can be arranged to meet specific requirements.The main types of commercial real estate in Cambodia are:Office buildingsRetail real estateIndustrial, factories and warehousesHotels & guesthouses/lodgesCommercial landYou can explore more in this article on commercial property in Cambodia.Cautionary Tales - Buy From Trusted Property Developers In CambodiaThe messaging for some time in terms of buying condos in the local Cambodian market, and in particular in the post-pandemic era, is to buy from trusted developers who have a proven track record of delivering quality and on time.In 2024, several residential housing projects in Phnom Penh and Siem Reap came under scrutiny from government authorities due to potential illegitimate developments. Buyers were warned to conduct due diligence before committing to property purchase agreements, and the Real Estate Business & Pawnshop Regulator, which operates under the Non-Bank Financial Service Authority (FSA) of the Ministry of Economy and Finance (MEF), issued warnings to two Phnom Penh based real estate development companies for operating without proper licenses.If there are any doubts, buyers and investors can contact the Real Estate Business & Pawnshop Regulator to check the legality of developers and that the correct real estate development business licensing requirements have been met The below is a guide if there are any doubts:Choose a Trusted developer with a record of previous projectsCheck the sales licenseCheck the construction license It is a positive sign of the market that the regulator is enforcing compliance which it says upholds the integrity of national real estate development regulations, and protects consumers from illegitimate investments.It is still, as in markets around the globe, the buyer's responsibility to carry out their diligence and vigilance before investing in new property developments.Cambodian Cities Continues To GrowMany Cambodian-based property developers target local and foreign buyers and investors and offer some sort of rental return scheme or Guaranteed Rental Returns (GRR).This is future rental income that is guaranteed by the developer or management company to the property purchaser for a contracted period of time after the purchase agreement is signed and the ranges can vary as can the duration (for example 2-5 years).According to the World Bank, Cambodia's urban population is expected to reach 44 per cent by 2030 and this is compared to 25 per cent from 2020. Urban population growth of 3.07 per cent is expected in 2024 (over 4,5 million people), with a 3.29 per cent annual growth rate for the past 10 years.

Tuol Kork has emerged as an ideal choice for living and investment for many property seekers. According to realestate.com.kh’s internal data from the first quarter of this year, the district ranked among the top three preferred locations. But why is this location attractive to prospective buyers and renters?This article provides an overview of Tuol Kork and its growing appeal for property investment.‘Elites’ Preferred NeighborhoodThe district is located in the northern part of the capital and it is well-known to be where Cambodia's elite reside. It has the reputation of being where governmental officials choose to live in Phnom Penh. Multiple villas and mansions can be seen throughout the neighbourhood as the area is a preferred choice for families. Residents of Tuol Kork seek a safer, quieter, and more residential atmosphere in contrast to the bustling downtown of Phnom Penh.Well-Connected AreaThe intersection of Street 598 and the Russian Federation Boulevard serves as the main gateway to Tuol Kork. The access roads are much bigger and wider as compared to other areas of the city. Within a few minutes of driving one can reach the communes of Russey Keo, Daun Penh, Chamkarmon, Mean Chey, and Sen Sok.‘All Can Be Found’ in Tuol KorkFun Mall in Tuol Kork is where one can find an array of restaurants, and shops. (Credit Fun Mall)When renters and buyers search for properties, a prime location typically includes well-rounded development and amenities. Tuol Kork continues to expand with new developments that are enhancing its appeal.The district has a variety of restaurants, cafes, supermarkets, clothing stores, and entertainment places for all budgets. In the surroundings, residents enjoy proximity to popular shopping centres such as The Commune, TK Mall Avenue, and Fun Mall making it a convenient place to live and be entertained. Moreover, Tuol Kork provides easy access to AEON Mall 2, Makro two popular shopping centres in Sen Sok and the Phnom Penh International Airport.The district has a range of educational institutions such as international schools, the Royal University of Phnom Penh, the Institute of Foreign Languages, and the Institute of Technology of Cambodia, which makes it ideal for families.Lastly, key governmental bodies such as the Ministries of Health and Ministry of Labour and Vocational Training along with several commercial businesses are situated along the main thoroughfares of Tuol Kork.Labour and Vocational Training along with several commercial businesses are situated along the main thoroughfares of Tuol Kork.New & Accessible Housing OptionsAerial view of Time Square 3 located in Tuol Kork Tuol Kork is traditionally known for its landed properties, however, it is now seeing new development projects, particularly condominiums both already completed and under construction.These modern residential options are becoming increasingly popular among local investors and international buyers. It offers practicality and often comes with a full range of amenities and services. Condominiums appeal to single individuals and young professionals and Cambodia has a young demographic. Moreover, expatriates living in the country tend to seek such living spaces. Whether it is for rental or purchase, condominium prices in Tuol Kork are more affordable which increases its accessibility to a wider audience.Are you interested in investing or living in Tuol Kork? Our customer service team is ready to assist you. Contact Us via:📞+855 92 92 1000📧 info@realestate.com.kh🌐 www.realestate.com.khEasy, Fast & FreeRealestate.com.kh helps you find your dream property or real estate investment in Cambodia.

Cambodia's real estate market has become increasingly attractive to foreign investors over the past decade. The Kingdom is a developing country, with a young demographic and has a strategic location in Southeast Asia. It is poised for growth and provides opportunities in various sectors as per the investment law. This guide provides essential information for foreigners interested in property investment in Cambodia, including property ownership, costs, taxes, location and procedures.Can Foreigners Buy Property in Cambodia?Yes, foreigners can buy property in Cambodia, but there are specific types they can own and certain restrictions to be aware of. Foreigners can own condominiums and offices if they are strata-titled.Strata title is a form of ownership in Cambodia, introduced for condominium projects in 2010. Therefore, foreigners can only own condos built from 2010 onwards. There are ownership quotas and restrictions on these properties. Foreigners cannot own more than 70% of the condos in a building and cannot own ground-floor units. Additionally, strata titles cannot be used for projects within 30km of a land border.A sample of a Strata Title issued by the MLMUPCTo read more about property ownership titles, click hereCan Foreigners Own Land in Cambodia?Direct land ownership is restricted to Cambodian citizens or Cambodian entities. However, there are alternatives for foreigners who want to control land:Establishing A Landholding Company: Foreigners can buy land by forming a Cambodian company, which must have at least 51% Cambodian ownership, leaving the foreigner with a maximum ownership stake of 49%.Nominee Structure: Foreigners may seek a legitimate partnership with a Khmer citizen or use a nominee arrangement where a local acts as a silent shareholder. This method can be risky and requires careful consideration.Trust Company: allows a foreigner to buy land in Cambodia through a trust company, which must be registered with the Ministry of Economy and Finance. Under the arrangement, a foreigner can own various types of real estate including land, with the company acting as the property manager. However, the company is not authorised to sell the holdings without the consent of the foreign owner.Leasehold Property: Foreigners can buy a leasehold property, giving them 15 to 50 years of access to the property, renewable for another 50 years. This allows them to develop and construct structures on the land, though the land itself remains state-owned.Seeking advice on acquiring land in Cambodia, contact usHow Much Does it Cost?The cost of real estate will depend on several factors, such as its type, location and market trends.For instance, the cost of purchasing a condominium in Cambodia is relatively affordable compared to other Southeast Asian countries. In Phnom Penh, the starting price for a studio/1 bedroom condominium is under US$40,000, with many available around the $50,000 mark. To find more condominium options click here.How to Finance Property Purchase?The purchase of property for foreign nationals can be achieved in multiple ways. The easiest method is to pay in full if you have the required amount. However, if you do not, there are various ways to settle the payment, such as through bank financing, or a developer’s loan.If you are living and working in Cambodia, certain banks allow you to obtain a mortgage under specific conditions. If you are living abroad, it is recommended that you seek bank loan services in your home country.Developers in Cambodia understand the need for buyers to have instalment options. Therefore, projects often include what is commonly referred to as a “developer’s loan”, allowing buyers to pay monthly instalments with or without interest, or payment according to its construction phase depending on their policy.What Are the Additional Costs When Owning Property in CambodiaTransfer Tax (Stamp Duty): This is 4% of the value of the immovable property paid upon transfer of the title to the new owner.Annual Real Estate Tax (TOIP): Levied at 0.1% of the property’s market value exceeding US$25,000 (approximately 100,000,000 Khmer Riel)Rental Income Tax: If one seeks to rent out the property after purchase, there is 14% for foreign owners, based on the gross rental amount.Capital Gains Tax: Individuals selling immovable property will pay a 20% Capital Gains Tax. Currently, this tax is levied until the end of 2028.Unused Land Tax: This applies to any vacant land without having any buildings. It only requires a  2% tax rate per square metre of the unused land value price and does not require any annual property tax (TOIP) payment.In Which City To Buy Property?In Cambodia, Phnom Penh, Sihanoukville, and Siem Reap are the three main cities that draw interest from foreign buyers when it comes to property. But, before investing it is important to understand the dynamics in each city.Phnom Penh, the capital of Cambodia, is experiencing rapid urbanization, attracting people from across the country seeking better job and education opportunities. The city boasts superior infrastructure, including roads, bridges, and transportation. Economic activities in the capital are significantly more vibrant than in other cities in the country. Therefore, for many, Phnom Penh is an ideal place to invest, especially considering that affordable real estate can be found in prime locations within the city.Sihanoukville Cambodia's coastal city, has seen the majority of projects and developments over the past decade. However, the pandemic and ban on online gambling have left many buildings abandoned. To revitalize the city, the government is now encouraging investors with new incentives. Investing in Sihanoukville at an early stage presents unique opportunities, as it is the country's only seaport where the majority of goods are transacted. Sihanoukville is easily easily from Phnom Penh via the expressway. Moreover, it is the gateway to Cambodia’s famous islands, Koh Rong and Koh Rong Sanloem, which are must-visit destinations for tourists.Siem Reap is the ultimate attraction destination in Cambodia, being the main gateway to the Angkor Wat temple, the largest religious structure in the world. Life can be much quieter than in the capital, Siem Reap also enjoys a fair share of activities, mostly revolving around tourism. Hotels, guest houses, and F&B establishments are the main interests for real estate investmentsWhat is the Process of Buying Real Estate?The process of buying property in Cambodia typically involves working with a real estate agent or agency. It is advisable to seek assistance from an experienced real estate agent and a reputable company to guide you through your acquisition.The real estate agent or agency acts as a mediator between the buyer and seller, handling payments, negotiations, and other matters. They also ensure that the property documents are legitimate by conducting due diligence.Once all documents are verified, the agent will prepare a Sales and Purchase Agreement (SPA). This legally binding document outlines the terms and conditions of the transaction. It includes details about both the buyer and seller, a description of the property, the sale/purchase price, payment terms, ownership registration, and handover details.Where to Buy Real Estate?Realestate.com.kh is Cambodia's leading property portal for purchasing, selling, and renting property. With over 50,000 active listings on our website, we offer various options to suit your needs. Our experienced real estate agents are ready to advise you on Cambodia's best locations, projects, and investments.Are you interested in buying property in Cambodia? Our customer service team is ready to assist you. Contact us via:📞+855 92 92 1000📧 info@realestate.com.kh🌐 www.realestate.com.khClick here to speak with our teamEasy, Fast & FreeRealestate.com.kh helps you find your dream property or real estate investment in Cambodia.

Future-proofing and adapting cities and ensuring they are being better sustainably prepared for a challenging environmental future have been hot topics of late, as the Eurocham Tall Building Forum 2024, the Asia Infrastructure Forum (AIF) 2024, and the World Cities Summit (WCS) 2024 all took place over recent weeks exploring a range of issues contemporary cities are facing.Cambodia Tall Building Forum 2024 - What Is The Shape of Cambodia’s Cities Of The FutureEuroCham's Real Estate and Construction Committee, in partnership with EuroCham Vietnam’s Construction Committee, hosted the third Tall Building Forum which focussed on the future of high-rise developments in Cambodia.The forum emphasised the need for a balance between quality, sustainability, and community needs in the backdrop to an estimated 70 per cent of the global population living in urban areas by 2050, and certainly in the Kingdom we can see the growth in urbanisation.The speakers also delved into some of the tools such as the emerging technology trends in the sector (better pre-fabrication builds, cutting-edge wind-resistant technology, innovations in lifts and green roof spaces) that can address the issues with a focus on sustainability and affordable housing.Speakers included His Excellency Say Samal, Deputy Prime Minister and Minister of Land Management, Urban Planning and Construction in Cambodia, as well as Vannak Seng (Chief of Administration at Phnom Penh Capital Hall), Lawrence Lennon (outgoing CBRE Managing Director),  Serge Pak (Beton Block and Pave CEO), and Mohammed Adib (Chief Design Officer at Dewan Architects & Engineers).They discussed the evolving landscape in the local context and the key themes included the importance of quality schools and green spaces in city developments, the importance of expertise in design and construction, a need for affordable housing and university opportunities, high-rise developments needing to balance land consumption with green spaces and recreational areas.Say Samal said, “We want a city where everyone can live, they can have their own niche where they can find a decent job, put food on the table and their kids can go to a quality school…Our identity was lost during the Khmer Rouge and we need to build it back ourselves. We stepped out of the foxhole and we’re building a new society, setting new values and creating a new way of life.”Vannak Seng confirmed that the number of high-rise buildings over 10 stories tall in Phnom Penh now exceeds 1,800 developments.Sang added that the quick and drastic changes have created challenges for the city to adapt, while high-rise lifestyles are in conflict with traditional Cambodian accommodation. The lack of zoning regulations means that often the areas surrounding tall buildings are not designed for the sudden influx of cars or foot traffic and as a result strain local infrastructure (such as strained drainage and road networks).On the positive side, Lawrence Lennon talked of the positive opportunities, noting Sihanoukville, where there is mixed-use potential in high-rises and he sees a need for hospitals, education and retirement living as well as affordable housing which is lacking generally in the Kingdom,Action Items For CambodiaDevelop affordable housing and university opportunitiesBalance high-rise development with community participation following models such as Marina Bay in Singapore.Improve public infrastructure to support growing tall building developments.Asia Infrastructure Forum (AIF) 2024 - Regional Infrastructure Developments And Sustainable SolutionsThe AIF emphasised sustainable infrastructure in Asia with the theme in 2024 being ‘Sustainable Infrastructure: Transforming Asia’s Journey’. The conference discussed the need for the construction industry to revolutionise its methods to expedite Asia’s shift towards green initiatives and sustainable infrastructure expansion  - which is not a new call to action, but most nations are in line to miss targets in terms of sustainability.Looking within the region, Indranee Rajah, Minister in the Prime Minister’s Office and second Minister for Finance and National Development of Singapore discussed what they are doing to address these needs and to “accelerate our sustainability efforts and channel resources to climate change mitigation and adaptation.”The island-state is spending $100 billion Singapore dollars over the next century for new solutions to protect against rising sea levels - with Asia expected to account for two-thirds of global growth in 2024 - new strategies to achieve growth and sustainability are priorities.Guangzhe Chen, World Bank Vice President for Infrastructure, reiterated that in the region, there are narrowing infrastructure gaps. At a ministerial panel forum in which Sim Vireak, Undersecretary of State to Cambodia’s Ministry of Economy and Finance, was involved, the panel outlined the prevailing issues regarding infrastructure as well as opportunities to address these deficiencies. Vireak said, “For Cambodia, we want to become a carbon-neutral country by 2050 and plant 1 million trees per year. In urbanisation, we also take into account the demography, in addition to the climate, due to the increase in the city population. As we are trying to curb floods in the city, we are also working hard to improve our sewage and water pumping systems.”Group-think seemed to be key, as the panel called for a collective vision which targeted:Supply chain challenges.Prioritising strategic connectivity.Leveraging infrastructure to enhance value through regional collaboration.The significance of digitalisation and technology at the intersection of sustainable finance and infrastructure development as well as more green initiatives was also highlighted at the Asia Infrastructure Forum.World Cities Summit (WCS) 2024Finally, the three-day World Cities Summit (WCS) 2024 was held in Singapore with a core theme of “Liveable and Sustainable Cities: Rejuvenate, Reinvent, Reimagine” as the summit looked at the future of urban development.This was the 9th edition of the WCS which is organised by the Centre for Liveable Cities (CLC) and the Urban Redevelopment Authority (URA). The discussions were centred on opportunities and strategies to achieve “smart, resilient and regenerative cities both now and in the future.”Some of the data presented include:In 2000, there were 371 cities worldwide with at least 1 million inhabitants, but by 2030 this number is projected to exceed 700 cities (nearly doubling in just three decades.)Estimates are that by the end of this century, the sea level is projected to rise by up to 1.15 metres or more.The weather is also expected to become warmer, with annual mean temperatures rising between 0.6 and 5 degrees Celsius by the end of the century. This means that in the face of more evidence supporting climate change and global warming, more cities worldwide are facing challenges and need to be ready for environmental changes,Some of the major issues facing cities are fragmented urban landscapes, inadequate public spaces, and the inefficient use of resources, but there are also newer studies looking at the impact of the urban environment on mental well-being.In Singapore, the Agency for Science, Technology and Research was noted for leading a research project and, Deputy Prime Minister Heng Swee Keat said it was required “To better understand the direct and indirect relationship between our built environment and mental health, the study will examine factors such as urban design features, density (and) human behaviours,” There was a collective call to renew and energise urban spaces, and one example was in New York which is expanding public spaces and creating more pedestrianised green spaces to transform streets into open public spaces with outdoor dining, retail and bike-friendly features.Similar plans were announced for parts of Phnom Penh, and these are concepts not alien to Cambodia, but unless they are incorporated into urban planning and lawfully enforced strategies and policies, with the pace of rapid urbanisation in Cambodia’s key cities, they will need to be implemented as soon as possible rather than retroactively to ensure the maximum benefits are achieved.

BKK1 (Boeng Keng Kang 1) is the Sangkat most highly sought after by property investors in the Cambodian capital of Phnom Penh for a multitude of reasons. These include its central location and proximity to key landmarks, the variety of amenities and entertainment venues within a short distance, the impressive new condominium options, and general overall safety. Ranking consistently among the top locations for renters searching for property in Phnom Penh, and still probably the most desirable address in the city, BKK1 hasn't lost any of its appeal for local inhabitants, foreign investors or international expats who choose to live and invest in the capital.The area is commonly referred to as the "downtown" or "city centre" of Phnom Penh, and as such, demands some of the highest prices due to its appeal to both tourists and residents. The borders see BKK1 boxed in by four major roads: Sihanouk Blvd to the north, Mao Tse Tung Tuong Boulevard to the south, Norodom to the east, and Monivong to the west.BKK1 Close Proximity to Phnom Penh LandmarksBKK1 is conveniently located near several key landmarks in Phnom Penh, and once was part of the larger Chamkarmon district until its formation in 2019. Some of the key landmarks in the Sangkat, or within a short walk, bike, or tuk tuk ride, are:The Independence MonumentTuol Sleng Genocide MuseumRoyal PalaceNational Museum of CambodiaWat Langka Buddhist PagodaThese attractions mean the neighbourhood and its surroundings are popular among visitors and residents in Phnom Penh, and although construction is ever-present throughout the city, this area generally has good paved streets as well as access to outdoor spaces for exercise and green spaces.The accessibility to other districts and important areas of the capital also are a big bonus for businesses who establish themselves here, and for those who choose to live in this part of the city.Convenience Of Retail Therapy & DiningThe high foot traffic from regular and new visitors makes BKK1 highly attractive for businesses across a range of sectors from food and beverage, to hospitality, and retail. BKK 1 features popular international brands and franchises such as Starbucks, Burger King, Pizza Hut, Domino’s & 7-11 convenience stores, and local and regional choices such as Brown Cafe, Coffee Bean & Tea Leaf, Paris Baguette and the city's own variety of homegrown popular hangouts - the sheer range of dining options, cafes, and bars are designed to suit all budgets.The skyward projecting buildings also mean there are an increasing number of rooftop bars and restaurants which are popular among diners for their ambience and views.BKK1 has the convenience of supermarkets, local wet markets and other services in healthcare, banking, gyms and sports activities.Notable hotels in BKK1, or close by, include The Baitong Hotel & Resort, Capri by Fraser, Courtyard by Marriott, and Novotel to name but a few. The area frequently sees new openings in accommodation, restaurants, and retail choices.The "Expat-Friendly" Area - BKK1The residents of BKK1 offer the best possible mixed multicultural global representation of people now living in the capital - if there is one neighbourhood known for being “expat-friendly,” it is probably BKK1.According to internal data from realestate.com.kh, BKK1 consistently ranks among the top three preferred areas for renters, who generally favour locations within walking distance of their workplaces, entertainment venues, and amenities, making BKK1 a preferred choice.Safety is also a top priority and BKK1 is considered a safe and secure environment, featuring well-lit streets and a consistent presence of people. Additionally, BKK1 hosts numerous embassies, international schools, and high-end residential complexes, all of which prioritise security measures, making it a relatively safe place to live.The area could even be further enhanced by introducing restricted traffic and foot-traffic-only streets - some of these suggestions have been highlighted before on the possible future of BKK1 and to make it more liveable and promote tourism through more collaborative culture and street-style festivals.New Development Projects Changing the Face Of Boeng Keng Kang 1BKK1 continues to see new condominium projects being added and the new developments offer varied attractive amenities such as sky bars, swimming pools, saunas, kids' playrooms, theatres and more which entice new homeowners and investors.According to a report by the Cambodian Valuers And Estate Agents Association (CVEA), the average land value in Phnom Penh is USD $4,500/sq metre but in BKK1 could reach values as high as $8,000/sq metre as it's seen as a downtown urban hotspot.The majority of the most popular properties face north, followed by east-facing and then west-facing alternatives.With the property stock comprising condos, apartments, villas and land, the key features of these properties are car parking, panoramic or 180-degree city views, and a range of entertainment and fitness facilities.Some of the new developments and condos in BKK1 which are currently under construction or completed, and offering a wide range of modern and desirable amenities, include:Le Conde BKK1Time Square 302Time Square 306J Tower 3Picasso 2The BKK1 area continues to evolve and undergo significant transformation as a range of new accommodation options strive to improve standards of living, meaning that this sought-after area will remain a prime location and at the forefront when it comes to property residential and investment options for both Cambodians, expatriates, developers and investors alike.

R&F City Phnom Penh MIRO is offering a unique chance to grab its 38㎡ studio apartment at an unbeatable price starting from $5X, XXX and a 15% down payment. Move in right away and enjoy the flexibility of a 5-year interest-free instalment plan for the remaining amount. No waiting, no concerns about project delays—this ready-to-move-in apartment ensures you can start living in your own apartment today!Project DetailsDeveloper: R&F Group CambodiaOwnership: FreeholdLand Area: Approximately 951㎡Building Area: Approximately 25,328㎡Building Height: Two towers, 25 floors facing south and 32 floors facing east sideTotal Units: 612 unitsAvailable Unit Type: 38.38㎡ studio one-bedroomView Orientation: Southeast units enjoy river views of the Bassac River, and northwest units enjoy community garden viewsAmenities: 270° infinity pool, SKYBAR, floor-to-ceiling gym, rooftop garden, and approximately 500㎡ shared office spaceStarting Price: Total price starting from $5X,XXX, with a 5-year interest-free instalment optionUpcoming Location: Southern Phnom PenhR&F City Phnom Penh MIRO is an integral part of the R&F City Phnom Penh in the southern part of Phnom Penh. MIRO stands for Magic, International, Revolutionary, and Outstanding, encapsulating a vision for future living in Phnom Penh. Located in the rapidly developing ING New City, MIRO is strategically located on Hun Sen Boulevard. Within 15 minutes, residents have access to Phnom Penh's largest shopping centre, AEON Mall 3, the top international school, ISPP, and the premier healthcare facility, the Royal Phnom Penh Hospital.Surrounding InfrastructureMorodok Techo Flyover: Phnom Penh's first circular overpass, Phase 1 completed and operationalHun Sen Boulevard: The main road to southern Phnom Penh, and an area of growing interest for investment New Airport Road: 80-metre road connecting Hun Sen Boulevard directly to the new Phnom Penh airportPhnom Penh Railway: A future key transportation infrastructure planned with AEON Mall 3 Mean CheyNearby FacilitiesChip Mong Mall 271: 3 minutesISPP International School: 4 minutesMeanchey Avenue: 5 minutesAEON Mall 3: 7 minutesPhnom Penh New International Airport: 20 minutesVisit & Move in Today!Forget the polished renderings – nothing compares to the peace of mind that comes from seeing your new home in person. R&F City Phnom Penh MIRO, completed in 2023, invites you to come and experience it firsthand. Walk through the completed project, and take in the well-thought-out apartment layouts and stunning views. With ready-to-move-in units, there's no waiting, no construction delays, and no delivery risks. Invest with confidence and move in immediately – it's real, reliable, and ready for you.The 38.38㎡ one-bedroom, has a compact layout, with a simple and comfortable designSmart Entry Door: New technology that enhances better securityModern Minimalist kitchen: with an open design featuring custom cabinets, combining aesthetics and practicality;  it offers a furniture stand that quickly transforms into a functional dining table.Bathroom: Adopts a three-section separation design, with the shower area and toilet area separated by glass doors, keeping it clean and dry.Living Room and Bedroom: Both spaces have window entries, and balconies offering views of the city.The overall apartment layout is functional and the design is user-friendly, making the studio apartment ideal for those who seek a convenient living space.Living with Community AmenitiesExperience the best of both worlds at R&F City Phnom Penh MIRO, where you can enjoy the comfort of your apartment while benefiting from an array of amenities:270° Infinity Pool: While soaking in its infinity pool, you will enjoy views of the Bassac River.SKYBAR: An ideal venue for socialising and unwinding after work or during the weekends.Gym: Stay fit and healthy with the newest fitness equipment.Rooftop Garden: A tranquil green space to relax and rejuvenate.Shared Office Space: A 500㎡ area designed to cater to your work needs, ensuring productivity and efficiency.As a resident of R&F City Miro Phnom Penh, you'll also have access to extensive community amenities:Vast Community Space: Spanning approximately 560,000㎡.Largest Community Garden in Phnom Penh: A 35,000㎡ green haven for residents.Commercial Street: Nearly 10,000㎡ diverse shops and dining options.Star-rated Sports Club: A 2,800㎡ facility featuring various sports and recreational amenities.Hassle-Free Living with Top-Rated Property ManagementExperience unparalleled convenience with R&F City Phnom Penh MIRO's star-rated property management. Its comprehensive services include community cleaning and landscaping, 24/7 security patrols, maintenance, utility payments, and personalised value-added services such as home cleaning, house management, and rental services. The services are dedicated to providing a seamless living experience, ensuring every detail is taken care of for its residents. So, why keep paying rent when you can invest in your own home? With an ultra-low total price and convenient payment options, owning a cosy and comfortable home is within your reach. Don't miss out on this opportunity, and secure your own apartment today! —  to schedule a free viewing appointment, contact our customer service team below! Click Here

Is the cautious mood of optimism an accurate representation of where the economy and construction sector is heading in Cambodia, driven by large-scale infrastructure projects and an increasingly broadening range of foreign direct investment?Cambodia Moving In The Right Economic DirectionThe National Bank of Cambodia (NBC), has predicted Cambodia’s Gross Domestic Product (GDP) to grow by six per cent in 2024, while the decline in inflation will help the economic conditions of the Kingdom.NBC Governor Chea Serey, who has been busy signing a number of agreements with other central banks to help facilitate cross-border payments, said in May 2024 that, “ Cambodia’s economy is supported mainly by exports, both garment and non-garment products, increasing of the tourism sector and related sectors, while agricultural sector grows at a slower pack,” at the launch of the Financial Stability Review 2023.Another factor that the Cambodian government has been saying unanimously is the impact of the Regional Comprehensive Economic Partnership (RCEP) and other Free Trade Agreements (FTAs) which should drive increased foreign direct investment- crucial to the economic growth and investment into ky projects designed to better place Cambodia as a logistics hub in the region as well as allowing it to diversify its productions and exports.Cambodian Structural Reforms In addition, according to the National Strategic Budget Plan for 2025, structural and systemic reforms aimed at strengthening economic and social resilience include:Development of human capital through strengthening the quality of education, sports, science, technology, and technical skills training.Economic diversification and increasing competitiveness through the development of key and new sources of economic growth; promoting the energy, water, and digital sectors; and improving the business and investment environment.Private sector and employment development through labour market development; promoting small and medium enterprises and new businesses; strengthening competition; and market economy mechanisms.Sustainable, sustainable, and environmental development through strengthening resilience, natural resource management, culture and tourism, agricultural promotion, and climate change.Digital economic and social development through the building of digital governments and citizens; digital business development; building and developing digital infrastructure; and developing financial technology.Attracting International Investments - Forging New Logistics AvenuesCambodia has embarked on an ambitious infrastructure development drive, with a focus on transforming its transportation and logistics network over the next decade. The government previously unveiled its 174-project master plan, requiring an investment of approximately USD $36.6 billion, to achieve its goal of becoming an upper-middle-income country by 2030 and a high-income nation by 2050.The Comprehensive Master Plan includes 94 road, eight railway, 23 waterway, 20 sea, and 10 air transport projects, as well as 15 logistics and four other infrastructure development ventures - a long-term strategy to interconnect all modes of transportation and link them with logistics centres in the Kingdom.Connecting The Kingdom’s Road, Air & SeaThe master plan includes the construction of expressways, high-speed rail lines, and other significant infrastructure projects such as airports and ports - and most notably and contentiously - the Funan Techo Canal. The government is seeking assistance from foreign allies, particularly investment from China, Korea and Japan, but it's also western nations who will be looking to add their engineering expertise based on the number of UK, French, Australian and US delegations and business meetings which have been taking place over the past 18 months.China's Belt and Road Initiative (BRI) has led the infrastructure charge, with major projects such as Cambodia's first expressway connecting Phnom Penh and Sihanoukville proving to be a success and two more are under development.Japan has focused on a range of projects, including wastewater treatment facilities and road upgrades as well as the Sihanoukville Autonomous Port - currently the only deep-water seaport in the Kingdom. The Japanese have also completed urban transport and rail feasibility studies in Phnom Penh.The expansion of the international deep-sea port of Sihanoukville, which handles about 60 per cent of Cambodia's import and export traffic, is their most notable project. The port expansion, estimated to cost around USD $750 million, aims to alleviate congestion that has increased over the past decade due to rapid economic growth.The Cambodian construction industry has wavered but FDI and continued expansion of major infrastructure should assist its rebound in 2024 as major road, rail, port, and airport projects continue to attract foreign interest.Foreign direct investment from Asian partners remains the main source of funding for transport and energy projects but social infrastructure, such as schools and hospitals, will also benefit from regional development funding, while the accelerated influx of tourists and manufacturing (especially with beneficial trade deals and more special economic zones being investigated) might spur private investment in the non-residential building segment.The government's efforts to modernise and upgrade infrastructure and logistics systems present an important opportunity for private-sector investment and private-public partnerships. The latest of which is the on-again-and-off-again Kampot International Tourism Port which is now expected to have a private partner appointed before the end of the year and have that port operational by the year’s end too.Urban areas will also benefit from the Urban Infrastructure Development Project funded by the Asian Infrastructure Investment Bank (AIIB) which is supporting the Government of the Kingdom of Cambodia in providing basic urban services such as water supply, sanitation, drainage, and solid waste management and access to climate and disaster-resilient urban infrastructure in participating towns in Cambodia.Improved Construction SectorThere are also systematic improvements being planned to make the construction sector more eco-friendly, updated construction laws and practises are due to be introduced and the Ministry of Land Management, Urban Planning and Construction (MLMUPC) confirmed the national land registry records of all Cambodian land titles will be recorded and digitized to improve efficiency.The Cambodia Green Building Council (CamGBC) will also develop a green building certification tool for the Cambodian construction sector.If 2024-2025 are to see a revival for the construction industry in Cambodia, driven by large-scale infrastructure development and an expanding middle class, there will be increasing demand for quality housing and commercial projects.

With the number of condos and apartments increasing on the Cambodian market, especially in Phnom Penh, and a possible rebirth of Sihanoukville could be on the cards with the new strategic plans and inbound travel options rebounding, the rental market might be an area worth looking into - we have tried to bring some contemporary advice and tips into renting properties in Cambodia in 2024.Managing Expectations in The Cambodian Rental MarketIt’s important to have a checklist of qualities you look for in potential tenants, but don’t set unrealistically high expectations for them. Every tenant has their own personality and needs and comforts - so, ideally, look for someone who’s willing to be cooperative and who also has consideration for you and your property and time!Find out their needs and let them know yours and lay out what you expect from them and ask them what they expect from you - this will help set up some boundaries and expectations and means it could result in a healthier relationship. And if you do run into problems, at least you know who’s liable and what the process is.Looking for property in Cambodia? Let us help!Clearly Explain All The Rental Costs And How To PayMost rental rates are exclusive of extra monthly charges such as maintenance (mostly applies to condos), waste collection, gas and water rates, electricity bills, etc. These should be established in the rental contract before the owner and tenant sign. It also helps to walk the tenant through means of payments, so much now in Cambodia is possible via the banking apps, and in Phnom Penh at least but also in other urban hubs, you can pay the water, electricity, and almost all utility bills via the apps. The same applies to the rental fees which can be paid bank to bank via relevant apps at ease and immediately. Establishing clear payment dates and exchange of information are important. Telegram and WhatsApp have also become more common as a way to communicate between tenants and landlords.As a guide, although these vary from each Sangkat to the next and depending on the property, electricity can be from 1000 Riel / USD $0.25 per Kilowatt, USD $2-5 per month for water charges & trash collection and additional fees for cable TV and broadband connections (if included) might need to be applied.An increasing number and range of nationalities are also moving to cities like Phnom Penh from the region and internationally due to the opportunities and in some cases geopolitical displacements. Using language apps can be useful to communicate with each other if there is no common language.Finding Good Tenants In CambodiaFinding the right tenant can be a daunting task but there is nothing worse than having a bad tenant so putting in some groundwork or hiring an agency to deal with tenants might be another alternative solution.Renting an apartment might be a viable option if the property market is slow, and especially as we enter the slower tourism season, there could be digital nomads and other short-termers looking for an alternative to hostels and hotels.Mid-year is usually the one of the seasons in which international schools have their longest holidays and some foreign teachers could be leaving these shores, while others with holidays as long as 6-7 weeks might be looking to sublet their rentals or making decisions to change locations.What Responsibilities Does the Landlord Have In CambodiaAlthough not a legal requirement, as a landlord you could try to get background information about the potential tenants but very few would do this in Cambodia.Meeting the tenant more than once to establish their character is highly recommended though and allows you to evaluate whether you’d have a good dynamic as landlord and renter.What is their profession, their family situation, is it their first time renting in Cambodia (how much hand-holding will they need) etc?If they’ve never rented a property before, you can try to get their employer as a reference so you can investigate their credibility and capability to pay rent.You should also try to be upfront about noise issues or possible construction (which is one of the biggest sore points in the cities) and maintain an honest relationship with your tenants.Once rental agreements are signed, it's advised to do a walkthrough with the tenant and record any major snags (flaws, scratches etc) so both parties are in agreement, photo evidence is always handy as it can be time-stamped and shared between the tenant and landlord.You can find out more here as a guide to the sort of checklist to establish before renting in Cambodia.Advance Payments On RentNot all tenants will be willing to pay advance payments and deposits for yearly rental agreements in Cambodia so you will need to negotiate a fair deposit in advance with 4-8 weeks being pretty standard for a one-year lease.Having tenants pay in advance gives property owners some sense of security that if the tenant is not able to meet monthly payment deadlines, or if they damage the property, the deposit can be used to compensate for their neglect or carelessness. Although an unwritten agreement, it's quite common for the deposit to be offset from the tenant’s last month's rent payment once notice is given in advance but this should be clarified in the contract or once trust is established.Foreigners Present in Cambodia System (FPCS) The FPCS was introduced in Cambodia by the General Department of Immigration to record data on foreigners living and visiting the Kingdom in 2020, and it is the responsibility of the owners of hotels, guesthouses, condominiums, and houses/condos to complete the app or online about foreigners staying in properties.The FPCS app can be downloaded and once the tenant has been registered you should share the screenshot of the completed registration on FPCS and keep it for your own recordsYou could also ask for a copy of the tenant's passport, and if they are non-Cambodian, check they are legally working and residing in Cambodia. The last thing you would want is to hear of a hasty exit from the country for violating their visa and work permit obligations and start the process again of finding a new tenant!

The hospitality and real estate market in Cambodia has experienced rapid development in recent years, driven by foreign investment and urbanization, as well as the influx of many new investors. The market is still challenging and in the recovery stage, yet it is embracing global trends and expanding its offerings. In line with this, WeHub has brought back HoSKar Night to Phnom Penh, aiming to connect local industry leaders in Cambodia with international investors and experts. The goal is to create business opportunities, keep up with market updates, and discuss challenges.Recognized as the premier networking platform in the region, HoSkar Night is tailored for professionals in the Hospitality and Real Estate sectors to connect with real estate developers, hotel owners, designers, general managers, senior industry leaders, technology specialists, culinary innovators, and forward-thinking business entrepreneurs. The upcoming event will be hosted on 29th May at TRIBE Phnom Penh Hotel. It will commence with a series of panel discussions, the HoSkar Talk, starting from 4:45 PM. During this session, industry experts will discuss how stakeholders navigate interests and solve conflicts faced by owners and developers during the development and operation stages. They'll share insights on the resort development process and discuss how the selection of operators and brands can add value to projects. Additionally, there will be several discussions on the Cambodian hospitality market and its future.The HoSkar Night networking session will take place from 6 PM, where esteemed guests can make valuable connections, explore potential business partnerships, and enjoy socializing. Given the event's exclusive nature and limited capacity, priority access will be accorded to local developers, hotel owners, senior industry professionals, and esteemed members of the WeHub community. Inquire to attend both HoSkar Talk Panel Discussion and Networking session:  https://forms.gle/awtpM6VaLKNp8gUMA Inquire to attend the Networking session only: https://hoskarnight.com/register/Co-hosted by Hafele Cambodia and Savills Hotels, in partnership with SALTO WECOSYSTEMS, Radisson Hotels Group and supported by Seara Sports Systems Cambodia, Archetype Reality, Cambodia Hotel Association, Architectural Engineering Consultants, Eurocham Cambodia, Confluences Trading, Cambodia Investment Reviews and PR Newswire, the HoSkar Night aspires to create an extraordinary networking experience for industry professionals in Phnom Penh.Following HoSkar Night Phnom Penh, a series of events is set to take place across Southeast Asia including HCMC (June 2024), Manila (July 2024), Hanoi (October 2024) and Bangkok (November 2024).  For more information about HoSkar Night in Phnom Penh and WeHub’s upcoming events, please contact Ms Thi – Thi@wehubyou.com or follow WeHub's official social media channels at: LinkedIn Facebook

On May 8th 2024, the Cambodian real estate industry was celebrated and recognised at Sofitel Phnom Penh Phokeethra during the annual Cambodia Real Estate Awards 2024 (CREA) - we look at some of the winning projects and what developers to keep an eye on for potential buyers and investors.Cambodia Real Estate AwardsCREA is organised annually by Realestate.com.kh in collaboration with The Ministry of Land Management, Urban Planning and Construction, The Real Estate Business and Pawnshop Regulator of Cambodia, and the Cambodian Valuers and Estate Agents Association.The winning CREA 2024 projects are a showcase of outstanding individuals and companies in the Cambodian real estate and property sector - more than 300 individuals from Cambodia’s industry were in attendance to see nominees and award recipients celebrated and pick up the coveted trophies.Tom O'Sullivan, CEO of Realestate.com.kh emphasised the industry awards as “crucial roles of professionalism, transparency, and trust-building in bolstering buyer confidence and sustaining international investment.”Celebrating Cambodia’s Property & Real Estate WinnersWith more than 30 CREA 2024 winners, we have picked just a few leading property developments or developers that are worth keeping an eye on.OCIC - Top Cambodian DeveloperThe top Developer of the Year awards went to Overseas Cambodia Investment Corporation (OCIC), and Thierry Tea (Vice-President of OCIC Group) said on the night that they were delighted to be the recipient of the CREA (in total they picked up seven awards) with Tea adding that “It is a testament to the vision of our founder and the hard work of all of our employees.” The VP added that they are working on several properties in the Cambodian capital, in particular in the Chroy Changvar area which he called “an up-and-coming (growing) community area with a fast-developing neighbourhood.” He also highlighted the Airport City project which we have mentioned previously and is being built in the vicinity of the new Techo International Airport under development and expected to be operational as soon as 2025.Time Square 6 - From Cambodia’s Best Condo DeveloperThe projects’ developer MegaKim World Corporation won the Best Condominium Developer of the Year at CREA 2024 and they have developed a hallmark of quality at their developments in the Kingdom.Time Square 6 (which is also known as Time Square 302) is located in Boeung Keng Kong I, Chamkamorn with close access to embassies, financial institutions and a range of retail and food and beverage outlets.The residential condo tower consists of one-bedroom and two-bedroom units and is set to provide contemporary urban living with all the modern amenities. Some of the highlights include a 48th-floor rooftop, fitness and lifestyle facilities, a swimming pool and a canopy garden. There is also a ping pong room, golf simulation, a lounge, cafe and games room, a kid's play area, a cinema room & karaoke, plus more on the 37th floor.The development also won the ‘Affordable Condominium Development of the Year’ at CREA 2024; and with construction having commenced in December 2023, there is a completion target date in 2027.Canopy Sands Development - Top Cambodian DevelopmentAfter winning the top development of the year at CREA 2024, Canopy Sands Development is building up a head of steam as this mega project on the southern coast of the Kingdom continues to turn heads. Established in 2019, the Canopy Sands Development is led by a diverse Pan-Asian team With the Bay of Lights breaking ground in late 2022, the Canopy Sands Development has also since launched the Summer Bay & Beach Cabins, and announced the Bay 19 golf course which is designed by the Greg Norman Golf Course Design team, as well as partnering with Ascott Limited (Ascott) to manage two properties; the Oakwood Bay of Lights Sihanoukville, and Summer Bay Beach Club & Cabins by Preference.Le Condé BKK1 - Condominium Development Of The YearLe Condé BKK1 was the winner of multiple awards including the Home Condominium Development of the Year and the Premium Condominium Development of the Year at CREA 2024.Le Condé BKK1 is situated on Street 352 in the BKK1 area of the capital and is a mixed-use luxury development rising to 43 stories. Developed by Wangfu Guoji Property Development, the project consists of 4 different types of fully furnished units including studio, one-bedroom, two-bedroom and three-bedroom with integrated smart home features.The development includes the BKK Avenue Retail Store, a 240-meter sky jogging track, an indoor swimming pool, a fitness centre, a children's play area and a sky garden as well as an infinity pool. In October 2023, Le Condé BKK1 achieved its topping-out milestone, with the project eyeing a completion date of August 2024.Borey Williams - Best Landed Property Development of the YearThe American-style housing development in Phnom Penh aims to nurture a modern urban community lifestyle with the development providing green space, large lots and homes at affordable prices.The development won Development of the Year – Western Phnom Penh and Best Landed Property Development of the Year at the Cambodia Real Estate Awards 2024.Situated in Kambol district’s Romdul Village, the award-winning landed property development is ideally situated close to the Phnom Penh-Sihanoukville Expressway and only three kilometres from both National Road 4 and the Kop Srov Ring Road - offering sublime transport access.Borey Williams spans 200 contemporary homes as well as a community swimming pool, two parks, a playground and an open picnic area. With 24-hour security, CCTV surveillance, solar panel street lights, full gardening services, as well as pool and community cleaning it offers an idyllic lifestyle in the Kingdom.Connexion - Lifestyle, Retail, And Sustainable Development WinnerAnother serial winner at CREA 2024, Connexion picked up the Lifestyle Development of the Year, the Sustainable Development Of The Year, and Retail Development Of The Year, Connexion is quickly building a strong reputation in Phnom Penh.Set to open very soon, the community hub is located in Koh Pich (Diamond Island) and has become a model for repurposed and environment-conscious architecture in the Cambodian capital.Operating under the tagline of “Repurposed mall for greener working, living and connecting on Koh Pich,” Connexion is a ‘work & lifestyle sustainable hub’ covering 45,000m² of uncompleted shopping spaces under the ‘adaptive re-use’ architecture movement.Connexion is also an OCIC development and offers offices, cultural & event halls, food & beverage outlets, shopping areas, hotel rooms, a supermarket, and sports facilities, the development promotes community-like living and working environments. There is also underground parking for 600 vehicles!It is worth looking into many of the winners from the CREA 2024, Mean Chey Residences, Picasso City Garden, Sophea Suites, Prince Happiness Plaza, Borey Amory, Diamond Bay Garden, and Time Square 6.What is Realestate.com.kh Connect PlatformConnect comes from the Kingdom’s leading property portal. The new platform is designed to promote Cambodia and its real estate sector globally. In addition, the online tool enables for far more efficient and transparent transactions through one integrated platform.O’Sullivan said the platform is in line with the aim of the business and what the whole industry is trying to achieve, “which is bringing everyone together for a common goal.” He added that as a tech company, they have the resources and capabilities to develop it for the “betterment of the whole market” and not just their own. The CEO highlighted it will allow agencies and property developers to develop their business within one seamless ecosystem which will only add transparency and trust.

Phnom Penh, Cambodia - May 9, 2024: The real estate industry's finest gathered at the Sofitel Phnom Penh Phokeethra on the evening of Wednesday, May 8th to celebrate the achievements of outstanding individuals and companies in the industry.The prestigious event is organised annually by Realestate.com.kh in collaboration with The Ministry of Land Management, Urban Planning and Construction, The Real Estate Business and Pawnshop Regulator of Cambodia, and the Cambodian Valuers and Estate Agents Association.Tom O'Sullivan, CEO of Realestate.com.kh opened the evening with a keynote speech emphasising the crucial roles of professionalism, transparency, and trust-building in bolstering buyer confidence and sustaining international investment.During the evening, Realestate.com.kh launched its latest initiative, Connect, a platform designed to unify the entire industry. Connect aims to promote Cambodia and its real estate sector globally while enabling efficient and transparent transactions through one integrated platform.The event was graced by over 300 of the most prominent and successful real estate players in the country's industry. The nominees and award recipients were evaluated based on their industry leadership, innovation, business growth, impact, and overall excellence.Over 30 winners from the leading property developers and agencies in Cambodia were announced throughout the night and were awarded the iconic trophy, prestigious CREA seal, and gold plaques to confirm their company's success.The top Developer of the Year awards included the winner of the overall Developer of the Year, Overseas Cambodia Investment Corporation (OCIC), while Time Square projects’ developer MegaKim World Corporation won the Best Condominium Developer of the Year.The top development of the year winners included Canopy Sands Development, which won the top award of the evening, The Development of the Year. Le Condé BKK1, winner of multiple awards took home Condominium Development of the Year, whilst Borey Williams won the Best Landed Property Development of the Year, and Connexion, a multiple award winner, won Lifestyle Development of the Year.Mean Chey Residences, Picasso City Garden, Sophea Suites, Prince Happiness Plaza, Borey Amory, Diamond Bay Garden, and Time Square 6 were some of the other notable winners from the developer categories.Asia Real Estate Cambodia (ARC) and WH Living and Properties rounded out the agency awards for the evening.In a post-awards interview, Tom O'Sullivan, CEO of Realestate.com.kh, expressed his gratitude to the judging panel and emphasised the success of the 2024 awards. He remarked, "While the industry faces challenges, it's crucial for us to unite and reinforce our commitment to sustainable and transparent growth." O'Sullivan also extended thanks to all the sponsors, including Hanuman Beer, Port City Colombo, B2B Cambodia, DFDL Cambodia, The Room Architecture & Design, Over Under, GAC Motor Cambodia, TDB Projects, Khmer Times and other contributors who made the night a success.Complete list of winnersDeveloper winners Developer of the Year - Overseas Cambodia Investment Corporation (OCIC)Condominium Developer of the Year - MegaKim World Corporation (Time Square 6)Borey (Landed Property) Developer of the Year - Overseas Cambodia Investment Corporation (OCIC)Lifestyle Developer of the Year - Bay of Lights EntertainmentDevelopment winners Development of the Year - Canopy Sands Development - SihanoukvilleCondominium Development of the Year - LE CONDÉ BKK1Township Development of the Year - Canopy Sands Development  Mixed-Use Development of the Year - Prince Happiness PlazaBorey (Landed Property) Development of the Year - Borey Williams Affordable Condominium Development of the Year - Time Square 6Premium Condominium Development of the Year - LE CONDÉ BKK1Luxury Condominium Development of the Year - Picasso City GardenWaterfront Development of the Year - Diamond Bay GardenRetail Development of the Year - ConnexionPremium Condominium Unit Design of the Year - Diamond Bay GardenResidential Design of the Year (Interior) - Sophea SuitesLifestyle Development of the Year - ConnexionDevelopment of the Year – Eastern Phnom Penh - Borey AmoryDevelopment of the Year – Western Phnom Penh - Borey WilliamsDevelopment of the Year – Southern Phnom Penh - Mean Chey ResidencesBoutique Housing Development of the Year - The Future 30Community Mall of the Year - Mean Chey Avenue Sustainable Development of the Year - Connexion Agency winnersProperty Management Firm of the Year - Residential - WH Living & Properties Agency - Research / Valuation Firm of the Year - Asia Real Estate Cambodia (ARC)Realestate.com.kh Co-Broke Agency of the Year - Vanguard Investment And Consultancy Services & Botra Real Estate Realestate.com.kh Co-Broke Agent of the Year (Individual) - Ms. Sisowath Nearyroth&  Mr. Peng Khomsong

The Time Square ‘Residence Series’ is expanding! The well-known Taiwanese developer, Megakim World Corp. Ltd, unveils its latest project in Tuol Kouk district,Phnom Penh—Time Square 7. As the seventh project in this successful series—with the previous six nearly sold out—Time Square 7 represents a first-choice investment opportunity, especially with an exclusive early bird discount currently on offer.Project OverviewThis new project stretches over a land area of 1,734 square meters and rises to 49 floors, housing a total of 700 units serviced by 7 elevators. Time Square 7 caters to a variety of lifestyles with its diverse apartment layouts. Options range from efficient one-bedroom units (40, 47, and 60 sqm) perfect for individuals or couples, to a more spacious two-bedroom unit (76 sqm) ideal for small families. The largest three-bedroom units (100 sqm) are designed for larger families needing more space. Additionally, duplex units ranging from 1 to 4 bedroom (60, 70,100, 130 and 160 sqm) are also available on higher floors.When it comes to amenities, we can expect a sky lounge with city views, a pool & gym. The building features two car parking for convenience and the ground floor houses the lobby and commercial retail spaces, making daily necessities easily accessible for all residents. Location HighlightThe new project is only 450 meters from Time Square 2 and Time Square 3. Tuol Kork is renowned for its villas typically where most of Cambodia's elite reside. The district offers a quieter, residential atmosphere yet it remains well-connected to other key areas through a network of major roads. Tuol Kork is adjacent to the communes of Russey Keo, Daun Penh, Chamkarmon, Meanchey, and Sen Sok. The district offers a variety of options when it comes to cafes, restaurants, supermarkets, and hospitals, providing residents with multiple options to meet their lifestyle needs. Whether it’s dining, shopping, or healthcare, the area has much to offer.Popular Amenities Nearby:Financial Services: Residents are a 10-minute drive from banks like Canadia Bank, Prince Bank, BIC Bank, Wing Bank, and ABA Bank.Commercial Amenities: Dining and shopping options include Happy Lamb Hotpot, Fun Mall, TK Avenue, Eden Garden, View Park Mall, and Sunshine Family Park.Education Institutions: Over 20 international schools such as Western International School, Golden Gate American School, and Paragon International School are located the neighbourhood.Affordable Pricing & Early Bird DiscountsWith starting prices at $3X, XXX, Time Square 7 offers affordability paired with attractive early bird discounts. The payment plan is designed to ease the financial burden on buyers, requiring only a 20% down payment followed by up to 40 months of interest-free instalments.Project PopularityTime Square's developments have gained popularity across two of Phnom Penh's most sought-after districts, BKK1 and Tuol Kouk. Here's a brief overview of previous projects:Time Square 1 (17-story apartment in BKK1, completed in 2017, 100% sold out)Time Square 2 (Borey residential community, 100% sold out)Time Square 3 (30-story apartment in Tuol Kouk, completed in 2021, 100% sold out)Time Square 4 (25-story mixed-use development in Tuol Kouk, completed in 2023, 100% sold out)Time Square 5 (also known as Time Square 306, 45-story apartment in BKK1 on Street 306, groundbreaking in 2022, 100% sold out)Time Square 6 (also known as Time Square 302, 48-story apartment located in BKK1 on Street 302, groundbreaking in 2023, 98% sold out)Time Square 7 (49-story apartment located in Tuol Kork, now open for pre-sale!)Bookings are now open for Time Square 7! Don't miss the early bird discount—secure your unit today. Contact us now to reserve your new home or investment!Click Here