Junior Chamber International (JCI) is one of the many active non-profit organizations in the world that has a Cambodian division.Officially recognized by the Cambodian government in 2012, JCI Cambodia has spearheaded several useful programs and collaborative projects in the hopes of creating a platform for professionals and students from different industries to engage in. JCI hopes that these projects will pave the way to a better and more stable economy, through education and dialogue. One such project is the upcoming event, JCI Entrepreneur Square.What is the JCI Entrepreneur Square?Alongside its business exhibition, JCI has also prepared a series of talks which will feature 7 distinguished speakers and experts from the areas of Food & Beverage, Real Estate, and Organic Agriculture products.Although speaking about different sectors, the discussion will center on one key topic, “Key Success and Investment Opportunity in Real Estate, Food & Beverage, and Organic Products in Cambodia”.In line with this, the organization and its various sponsors and partners hopes to showcase the multitude of opportunities Cambodia already has in its resources and utilize the time the speakers have to educate how current and potential investors can tap into those specific resources to develop a healthier business environment. It also aims to create an event that will allow its participants to network and exchange business ideas and experiences.Who are the Speakers?The event will have several key speakers, both in the morning and the afternoon, and will be moderated by equally distinguished people from the same industries.Moderators: Mr. Khorn Chhundara– CEO of KOI Café Cambodia Ms. Dek Dary – National VP of JCI Cambodia, Managing Partner at 360 Event Management HE Dr. Sok Siphana – Advisor of the Royal Government of CambodiaAgricultural sectors: Dr. Tan Monivann - VP of Mong Reththy Group Co., Ltd. Mr. Neak Tharen - Board of Directors of Cambodian Organic Agriculture Association and CEO of Natural GardenFood & Beverage: Mr. Kouch Sokly - President of Cambodia Restaurant Association Mr. Chang Bunleang - Operations Manager and Co-founder of Brown CoffeeReal Estate: Oknha Sear Rithy - Chairman of Worldbridge Land Co., Ltd in Cambodia Mr. Kim Heang - President of Cambodian Valuers and Estate Agents Association (CVEA) Mr. Kenn Yeo - General Manager of Orkide Villa Condominium (Mall & Condominium Project)What Will The Speakers Talk About? The presentations and panel discussions will touch on a few things. For the F&B industry, the speakers will talk about trends, sources, franchises, and methods in the industry that will help drive businesses to success. For the speakers from the agriculture and organic products industry, they will be presenting about geographical factors and characteristics of Cambodia and how it affects each sector. They will also talk about the current challenges and demands in the market. All of this will be done in the morning, while real estate speakers will do their presentations in the afternoon. They will discuss certain points on policies and development in the industry, along with triumphs and recommendations for investment. This event will surely bridge the gap between businesses and individuals hoping to break into these specific markets and start investing not only in their own future, but also the future of the country. There is a huge potential in Cambodia right now and it is important to understand how you can tap into that potential and get your payout once it grows.If you’re interested in going to the event, it will be held at the Sokha Phnom Penh Hotel & Residence on August 27th, 2016. The event will start at 8:00am and is expected to run until the late afternoon.For interested participants, you can contact Mr. Horm Chanreaksmey at +855 12 540 033 or his e-mail hchanreaksmey@gmail.com.For those who are interested in the sponsorship packages and in public relations, you can contact Mr. Soth Sothearak at +855 17 59 46 19 or you can e-mail him at sothearak2510@gmail.com as well.

The Pokemon augmented-reality smartphone app has become an online phenomenon the world over. It has caused half the world to stop what they are doing and chase mythical creatures on their smartphones, with crazy outcomes... It has led to car crashes, huge public gatherings, trespassing, accidental deaths and even robberies. But lately, it has also influenced the real estate market. Some players are even believing that the sighting of a pokemon might just increase the value of their property for sale or the leasing rate for their apartment for rent…According to a CNBC News report, US real estate agent Jay Glazer, listing a property near Manhattan's Washington Square Park, included in his advertisement for the property that, "I'm fairly certain there is a PIKACHU at this open house, don't miss it." According to News.com.au, Realestate.com.au, Australia’s largest property portal, has also been struck with Poke-fever, with listing descriptions such as this: “Just across the road is a huge park with sporting facilities — and we’ve even spotted some rare Pokemon!” for a property listing in Townsville’s Cranbrook.A two-bed apartment for rent at Playfield Street in Brisbane’s Chermside is said to have an “easy five-minute walk to the busway” and “close by to Marchant Park — Pokemon Go Central”, claims the agent.And according to an atlasobscura.com report, Craigslisters around the world have also begun using their relative proximity to Pokemon “gyms” and “PokéStops” as a marketing message to catch potential new roommates. For example, a couple from San Francisco have an available apartment for rent near an "awesome Pokemon spawn area!", while a Cincinnati property "has pokestops in range."How long until an apartment for rent within the radius of Pokemon stops and gyms command higher rental prices than those without? It seems this crazy question may actually soon be a reality is some of the world's real estate markets under the trance of the new Pokemon Go phenomenon.Rob Levy from Re/Max in Townsville, Australia, notes that, “Especially among the under-35 first home buyers market, yes... When you have 300 identical houses to choose from, why wouldn’t you choose one near a PokeStop?”Will Cambodia be next to fall under the Pokemon spell? If it is, find out what Pokemon are hiding away in your home and you might just get a better price when it comes time to put it on the market...

Realestate.com.kh caught up with Andre de Jong, Managing director of Bosch in Cambodia and Chairman of the Real Estate and Construction Committee of the EuroCham Cambodia, to find out what the European chamber of commerce in Cambodia is currently doing to assist the progress of the real estate and construction industry.In this interview, we find out more about the initiatives being pursued to develop Cambodia’s green building sector.Tell me more about Eurocham's green building focus? Why is this directive so important in a nation such as Cambodia?Green building is currently still under the Green Business Committee which is one of the other working groups of the EuroCham. However, the RECC has recently started to work more closely with the Green Business Committee on this topic. We have two members from the Green Business Committee who are actively joining us.Green building has become an important topic for many countries. In Cambodia, although the concept is still new, there has been a growing interest among not only foreign investors but also local developers to ‘go green’.Recently, there is a worldwide rollout of a new green building certification called the EDGE which is available for free in 125 markets including Cambodia. The concept would be even more receptive and attractive if the government granted tax benefits to developers who adopt the green building processes.The green building concept is becoming more relevant and essential globally. We have witnessed the impact of the climate change over the last decades with the recent years becoming more significant especially in Cambodia where there was a dramatic increase in average temperature, a longer dry season and more rainfall during the wet season. It is important to focus on regenerative solution for the green building that includes green architecture, energy-efficient solutions, and smart technologies that save energy. Smart technologies will play an important role in this development.With the upcoming rise of the Internet of Things, especially in the Asia Pacific, we expect to see more adoption of IoT solutions in the green building process. Learn more about Eurocham’s Real Estate and Construction Committee (RECC) now!Learn more about the real estate and construction industries in our comprehensive Cambodia investor guides!

Owing a significant part of its recent economic growth to international property investment, Cambodia has come into force as one of the leading emerging economies in Asia. Preferred by neighboring countries for its massive growth potential, it’s no surprise that infrastructure is being developed quickly due to the increase in demand for properties – most of which comes from Chinese investors. As confirmed by the Agence Kampuchea Presse, “Currently, China is the biggest foreign investor in Cambodia followed by South Korea, EU and Malaysia.” And the numbers continue to grow each year.When asked why Chinese property investment in Cambodia is such a hot ticket in recent years, current president of CVEA, Kim Heang, says that it has to do with a lot of things that mostly relate to diplomatic relations, convenience, and currency: The Diplomacy of Chinese Property Investment in Cambodia: He explains that China and Cambodia have long-standing diplomatic and military relations which transcends into business and investment dealings. China provided Cambodia a loan amounting to $12.4 million just after it erased the Kingdom’s debt in the recent past so that the government can start repairs on the Angkor Wat. In return, Chinese nationals are welcomed with open arms for any opportunity to collaborate or to invest in the vast lands of Cambodia.Special projects such as infrastructure developments are also awarded to Chinese companies because of the amount of trust that has been formed between the two countries. This diplomatic relations has also lead to a sea of people moving from China to Cambodia with no problem at all. Convenience and Chinese Property Investment in Cambodia: Heang says that it feels just like home for Chinese moving to Cambodia because there is a high value placed on Chinese people in Cambodia, more so that other countries. Locals are not only more accommodating, but a lot of them also speak the Chinese language.This makes it easier for Chinese people to transition into whichever area they choose to settle in, whether it’s in the busy streets of Phnom Penh or in scenic places like Sihanoukville and Siem Reap. Another factor that contributes to their interest is the convenience of flying in and out of Cambodia at any given time. The flight from both countries takes approximately two and a half hours, which is relatively fast if you have meetings in between the two countries.Businessmen also profit from this because they can easily address certain emergencies and issues as they come about. Currency and Chinese Property Investment in Cambodia: Chinese buyers are especially motivated by US$ investments, as it represents a very stable currency. This is obviously available in Cambodia. Also, Chinese investors love to pay in cash - and the Cambodian market is also very open to this.Taxes and extra costs are low in the Cambodian property market also, even when moving money in and out of the country. At the end of the day, along with the government’s continuing initiatives to create policies that will benefit local and international investors, Cambodia will see an even more profitable future for the property and land markets as Chinese investors continue to come to the Kingdom. Check out more on the Cambodian investment climate in our Cambodia Investor Guides! Search for real estate and property all over Cambodia on Realestate.com.kh NOW!

The Realestate.com.kh team caught up with Joe Phelan, Head of Personal financial Services at Hong Leong Bank Cambodia, to learn more about Hong Leong Bank’s home loaning criteria and incentives.What are Hong Leong’s criteria for new home loans and home loaners? “You need to have a minimum income level of US$10,000 per annum and hard title collateral. This collateral can either be the property you are looking to buy or an existing property that either you or your direct family member currently owns. The property can also be either residential or a mix of residential and commercial, and we can lend up to 70% of this property value.” Apply for a home loan with Hong Leong NOW!Who can borrow from Hong Leong Cambodia?“Any local or foreigner with a permanent and consistent income stream in Cambodia, whether it be from salary, your own business or property rental income.”What are the lending limits for Hong Leong Cambodia home loans?“The minimum criteria is $10,000 for Home Equity Loans and $20,000 for all other mortgage products - and there is no maximum limit.”What other services does Hong Leong provide for home buyers?“We provide our free internet banking service and soon to be free mobile banking app as well,” notes Phelan, “so you can keep a close eye on your finances whenever and wherever you like, including your home loans. On top of this, you may automatically qualify for our Priority Banking package which also brings numerous free and discounted lifestyle benefits like golf, brunches at 5 star hotels, spa treatment and much more.”What other types of loans are available at Hong Leong Cambodia?“Our mortgage products are home loan, home equity loan, home investment loan and commercial property loan. Other than this, at the moment we have a full suite of business loans to cater for our business customers.”There are many Banks in Cambodia - Why choose Hong Leong Bank?“Our customer experience,” says Phelan, “we believe we have the most experienced mortgage lenders in the market that will be able to support your, ‘for some’, once in a lifetime dream home purchase. It is a big decision in anyone’s life to purchase a home, and we can make this process as easy and smooth as possible, ensuring we have provided the best financial solution for you.”Strong footprint in Asia. Formed over 100 years ago in Asia, the bank has a number of subsidiaries in Malaysia, Singapore, Vietnam, Hong Kong and China. You can trust Hong Leong bank.The right staff with a personalised focus. “This is the key to our success”, says Joe Phelan, Head of Personal Financial Services at Hong Leong Bank, “We believe we have the right senior staff who are dedicated to service and know how to satisfy their customer’s needs. Our priority account managers know their customers 100%”.Tailored financial products for SMEs. “Consumer is king and we need to look after business owners. We have a focus on SMEs to help you to grow your wealth,” says Phelan.Digital banking “With our user-friendly mobile app to be launched soon to complement our existing Internet Banking platform, we will be able to offer the best digital banking service to our priority customers in Cambodia.with a simple user-interface, more functions and ecommerce capabilities”.   Take your banking to the next level with Hong Leong Bank.Inquire today to find out more!

Realestate.com.kh caught up with Andre de Jong, Managing director of Bosch in Cambodia and Chairman of the Real Estate and Construction Committee of the EuroCham Cambodia, to find out what the European chamber of commerce in Cambodia is currently doing to assist the progress of the real estate and construction industry.Tell us about the role of the Eurocham real estate and construction committee generally? When was the committee formed? What is your mission? Who are your members? And what are some of your key activities?The Real Estate and Construction Committee (RECC) is a working group under the EuroCham Cambodia. The committee was formed in early 2014. The RECC advocates the improvement of safety and quality of construction and building, urban planning, and land management in Cambodia through events, sharing information, and fostering networking.The RECC is open to companies/individuals that provide services or have strong interest in the construction or real estate industries in Cambodia.In 2014, the RECC organized its first Real Estate and Construction Forum at the Sofitel hotel in Phnom Penh on the topic of the vision for growth of the real estate and construction industries in Cambodia.In May this year, the RECC together with Cambodia Constructors Association (CCA) hosted another Construction Forum focusing on construction and building safety.Besides members’ meetings and networking, the individual working groups of the RECC are also working with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in their specific fields of specialization.What successes have you experienced since your formation?The first Real Estate and Construction Forum that the RECC organized was a success. The event gathered over 200 participants, about 40 of whom were representatives from MLMUPC. As a result of the forum, the RECC has become a partner of the Ministry which subsequently allows both parties to collaborate more closely on information sharing and policy development. The forum also led to a MoU signing between the RECC and the Ministry in mid-2015 to improve legislations related to real estate and construction topics such as workplace safety. It also focuses on urban heritage concepts, spatial planning, and coastal development.What are the most important policy directives that the Eurocham construction and real estate committee are pursuing currently? And why are these directives of such priority?The RECC is divided into three pillars: Real Estate, Construction, and Urban Planning and Land Management. The MLMUPC has similar pillars, of which Real Estate is under the cadastral department.For the Construction working group, the main goal is for Cambodia to derive a building code that consists of a number of set regulations and rules for building and construction with a strong focus on safety standards. These include, for example, worksite safety, fire safety, health and safety of workers, and structural design of buildings. The RECC has also been working alongside the government on Prakas on an advisory level. The committee is also pushing to improve the Prakas related to health and safety in Cambodia.The Real Estate working group focuses on property measurement and valuation, as well as investor confidence. There are some ambiguities in the current regulations that this working group is focusing on. The goal is to minimize investment risks due to regulations and improve investor confidence. Moreover, we are advocating to have one agreed property measurement system by adopting an existing system from another country. The realization of this system will help to tackle uncertainty or deception in property measurement and valuation.The Land Management and Urban Planning committee has been actively working alongside the government. We are making good progress on an urban heritage study, coastal development planning, and spatial planning in a designated province. The expertise from this committee, including our French experts, is paramount here to support the royal government to achieve positive results. Learn more about Eurocham’s Real Estate and Construction Committee (RECC) now! Learn more about the real estate and construction industries in our comprehensive Cambodia investor guides!

Sarah Nicholson seeks to explain emerging markets, once and for all, in her “Overseas Property: The increasing popularity of emerging markets explained” presentation, thanks to PropertyGuru Singapore.Nicholson is the international project marketing director for CBRE Asia Pacific. Nicholson qualifies that in 2015 – according to CBRE’s independent studies – emerging markets form 80% of the global population and 20% of the world’s economy and deeply affect how investors make decisions in 2016. What are emerging markets? Emerging markets are countries that have low to middle per capita income and are in a transitional state. This transitional state means they are moving to an open market through economic and exchange rate reforms that encourage both local and foreign investments, contributing to the overall growth of the country’s economy. Why are emerging markets so popular? There are quite a few reasons why this type of market can be attractive to foreign and local investors, whether they’re looking for a long term or short-term investment project. According to Nicholson, emerging markets offer affordable opportunities for individuals and businesses to get a good investment return rate. She also states that economic and exchange rate reform programs help instill a sense of confidence in investors.She says that it’s “going to just lead to a much stronger and more responsible economic performance levels. And it becomes a much more transparent and efficient economy” as these type of changes occur. To add to its charm, emerging markets also offer strong domestic and export-led growth. This means that there will be more opportunities for construction, employment, and business which may or may not be limited to real estate.Cambodia as an emerging market: Although Cambodia is experiencing a delay in the release of an accurate house price index, Nicholson assures that Cambodia is well on its way to becoming one of the most established markets in the South East Asian region. She adds that among the top three highest marketed locations in emerging markets are Malaysia, Thailand and Cambodia. This is according to the CBRE research for “Singapore Exhibitions for Emerging Market Residential Development” with data gathered from 2012 to 2015 H1.Nicholson supports this by saying that among their dealings with Singaporean developers “Cambodia has gone from marketing nothing to 9 so far.” She also states that Phnom Penh land prices increased by 15 percent in 2013 and that “it feels like it’s just sort of at the beginning of that growth period which is really at the stage you want to be considering investing into these markets.” House loans are also increasing, which means that there is a lot more money circulating in the economy and that there are a lot more people now who can afford buying properties. Most of these loans come from local investors or individuals.This is important for foreign investors because it helps them with their exit strategy because when it comes high time to sell, as you are able to sell to locals. So – according to Nicholson – if there are no local buyers, then that’s a red flag for a project. Despite this though, Cambodia does have a bit more work to do in terms of its interest rates and its predominantly poor population.Reminders when investing in emerging markets: In addition to discussing the advantages and disadvantages of buying into emerging markets in different countries around Asia, Nicholson also discussed a few things that might be helpful for different kinds of investors. She states that emerging markets present a bigger risk so this might only appeal to people who are looking to diversify their investment portfolios.Although first-time investors will also find great opportunities in these countries, Nicholson warns them to keep careful watch of how their investments are handled. In these cases, make sure to buy from a developer with a strong track record and a high success rate so that you’re sure to reach your investment’s potential.Nicholson also advises to monitor supply and demand as these are also strong indicators for which direction prices will go for preceding years. Data from emerging markets may be scarce and difficult to obtain, but once you gather enough insight and proceed with the proper mindset and expectations, investing in these types of markets may offer you more than you’d expect when it’s time to cash out.It’s essential to remember though that policies are still being developed in these countries and may require a bit of patience.Stay tuned and get more updates from Realestate.com.kh!

Cambodia, despite a turbulent modern history, is now respected as one of the most dynamic emerging markets in Southeast Asia. Along with this improvement in its economic stability, many expats who have families and children are also moving into properties in the country.Fortunately for them, the heightened sense of economic importance has also paved the way for the education sector to restructure and enforce new standards of quality. According to the World Bank’s census, the rate for net admission for primary school rose from 81 percent to 95.3 percent in 2014 in Cambodia. But higher education and universities in Cambodia aren’t so far behind in growth either, having thousands of people graduating each year from over 162 institutions.However, expatriates – just like in any other country – should still be careful to consider different factors before enrolling their children in any school. So, here are a few things you might want to consider first before choosing which place to send your kids.Location: There are plenty of international schools in Cambodia, but international schools in Cambodia are more focused on the Phnom Penh area because this is where a large concentration of expatriates are located. But there are also a couple of international schools in other parts of the country that you can take a look at if you’re establishing your temporary home outside the capital, such as the International School of Siem Reap and the Ecole Française de Sihanoukville. It’s important to choose the right school with an accessible location so that children will find it convenient to come to and from your home, given that Phnom Penh can experiences some serious congestion around peak travel times. It also helps in terms of attending school gatherings where parents are required to go.Future-proofing: It’s important to note that public schooling in Cambodia is not something that’s offered to expat students. This is why you’ll see most of expat children going to international schools. But before choosing International schools in Cambodia, you may have to carefully plan out the next few months or years of your life first. It would be helpful to know whether or not you’ll be staying for long and where you’ll be moving to in the near future, because different schools will offer varying curriculums. Some of them might not be accepted in other countries you plan on calling your next home. So, if your family is thinking of moving to Canada or a place with a similar educational system, the Canadian International School has adopted the Canadian K-9 Curriculum in English which is approved and regulated by the province of Alberta to make sure that the school maintains the quality that is consistent to the education given in Canada. Northbridge International School, iCAN British International School and the International School of Phnom Penh (ISPP) are some other Phnom Penh institutions that import international standards of teaching and offer universally accredited qualifications. By ensuring that your child undergoes a curriculum that is compatible with the next country you’ll be travelling to, you’ll make transitions much easier and you’ll also avoid getting into complications such as repeating grade levels. This is also applicable for expatriate secondary students who are thinking of attending universities around the world.Qualifications and Credentials: Some institutions will claim international status but will not have the resources and facilities to prove it. So, taking your time and asking officials from schools should be a vital part in your decision-making process. This way, you can see the facilities and safety standards and also interview them about the experience and background of their teachers. Because international schools in Cambodia are mostly home to children of different cultures, one thing you can look for is a school that has teachers with the necessary experience to lead a multicultural class. On top of checking the school’s physical infrastructure, do a bit of online research and see if the school’s been accredited by any international regulating bodies. An example would be the Northbridge International School which has the Western Association of Schools and Colleges international accreditation.Skills Training: The iCAN British International School is one of the more popular international schools in Cambodia as well because it offers something that’s also essential for children’s growth. More than the academic aspect, they also focus on integrating skills development through their Early Years and Foundation Stage program where students are able to enhance their skills inside and outside their classrooms. Expatriates will find this as an attractive quality because it offers their children something to do while they’re in another country. At this point, they not only develop skills but also friends that will have the same interests as them. Cost: Cost is a vague topic with international schools in Cambodia as tuition fees for different institutions differ widely. Application fees, enrollment fees and capital fees may also vary. These can be attributed to many factors such as facilities, curriculum, miscellaneous charges, quality of education and the competence of its staff. There are schools out there such as Footprints International School which offers great quality but inexpensive schooling for expatriate students up until the 10th grade but may have a different curriculum than what your children may need. So, while institutions that charge more may give you the best education and curriculum, it is important to note that there are inexpensive alternatives that you can consider as well. However, for universally accredited schools you can expect yearly tuition fees anywhere from $5000 per year, up to $30,000.Requirements and Inclusions: In terms of cost, it’s also important to check out what you get in return for the tuition you pay. Some schools offer just the facilities but not resources like textbooks, while others may offer resources but not facilities such as a computer laboratory. A good example would be the International School of Phnom Penh (ISPP) which has a “Bring Your Own MacBook” policy which requires students in the 6th to 11th grade to have their own MacBook. Since “ISPP is a non-profit parent-owned association and relies almost completely on fee income to assure sufficient resources for the school's operation,” there are certain expenses that parents would have to shoulder. These are just a few basic things you need to look at during your decision-making process, but there are other things you can add to the mix to help you narrow the list down even further. Take your time, and make sure you choose the best school for your children’s needs.Learn more about living in Phnom Penh trhough Realestate.com.kh now!

Property valuation is one of the factors that helps determine whether buying a property asset will either enhance or depreciate the value of an investor’s portfolio. Valuation is often done by skilled professionals in the real estate industry to help protect the interest of investors and developers for long-term success.Since Cambodia is relatively new in terms of developing policies to promote proper valuation standards, it still has a few things in need of improvement. This was a topic that was addressed in-depth during a business luncheon entitled, “Addressing the Current Gaps” - which brought key speakers together to provide clarity among the various major stakeholders in the industry.  Speakers included ASEAN Manager of the Royal Institution of Chartered Surveyors (RICS), Salim Aslam, President of the Cambodian Valuers and Estate Agents Association (CVEA), Kim Heang, and Country Manager of Knight Frank Cambodia, Ross Wheble.Macroeconomic and Banking Standpoint:Before anything else, David Marshall, Head of Multinational Corporation and Financial Institutions of ANZ Royal Banks, discussed property valuation from a banking perspective. He states that valuations play a key role in the lending process of the country.Marshall explains, “One of the pitfalls in Cambodian property valuation that I’ve seen is there could potentially be some collusion with valuers in assessing the value of the property, inflating the value, and then the banks lending more money on that property than they should have.”Marshall stresses that, “in order for banks to protect their clients, there is an obligation to ensure that there is minimal loss during investment transactions; and property valuation serves as that safety net for both parties.”Ethical Practices and Transparency Issues:In terms of developing a guideline for quality assessment, Aslam explains that many countries such as Singapore and Malaysia have adopted the valuation standards of the Red Book which have been developed by RICS and widely used in the US and UK.However, he clarifies that this is not something that has been applied in Cambodia as of yet because there are issues of compatibility with the type of government and current economic setup of the country.Heang substantiates this by saying that it is not impossible to integrate this system full at present, but it must be tailored to fit the unique needs of Cambodia at this point of time. “What can be done in Malaysia and Singapore now can apply to Cambodia, but we need to check if it needs something extra to work," he says. He adds that a law on real estate is already being discussed and might be enacted by 2018 to help move towards the end goal of improved valuation policies.When asked how to bring international valuation standards to Cambodia though, Wheble answers by saying that there is a skills gap in terms of educational infrastructure and that there are no real estate qualifications available in-country at the moment. This becomes an immediate issue in accordance with international standards.He believes “with more and more of these training sessions and also in terms of exchanging knowledge between ourselves and through the CVEA,” this will soon improve, especially with the efforts of companies like RICS and Knight Frank who are willing to participate in the development of a better education system for real estate professionals in Cambodia, inside and outside of their businesses direct interests.Calls for Education:Since Cambodia has a shortage of programs to address the gap of knowledge in the valuation industry, Aslam says that, “knowledge, training, learning, and education is one way to solve the gap of expertise,” because Cambodia is a young country in terms of organization. He also says that it may take some time to address these gaps, but as long as efforts are being done, this disparity will soon shrink.Aslam adds that local organizations like CVEA will play a big part in harmonizing this gap to adopt certain Cambodian property valuation standards. Wheble also states that, “promoting real estate as a profession in and of itself needs to become a focus for Cambodia.” New job applicants in the industry have generally gone to university and gotten a degree in finance, law or banking. “What we really need to promote is real estate as a long-term professional career path,” says Wheble.According to Kim Heang though, there is already a five-year plan for CVEA to help in this area. He states that three universities are willing to offer a faculty for a bachelor’s degree in real estate and we will see four-year courses with 30 to 50 subjects being offered soon. The University of Technology in Malaysia is also interested in working with universities in Cambodia to bridge the gap for a two-year associate valuation degree. This will affect how the real estate industry professionals will conduct their business because, as education increases, regulations will certainly evolve and have stricter implementation as well.Insurance and Valuation:On the topic of insurance, Aslam explains that valuers have a pre-requisite of professional indemnity insurance, as the Ministry of Economy and Finance has now released a new regulation requiring this type of insurance coverage.Aslam continues by saying that Cambodian property valuation can be subjective and valuers may end up with different figures based on individual research. In these cases, insurance becomes important as it protects the valuers and their client should there be errors or lapses on their part.According to Kim Heang though, if you’re working with international investors or buyers, some do not require you to have this insurance because they trust you enough. These include buyers from Taiwan and Vietnam.He also says that if you’re very careful with valuation, the insurance seems to matter less. He goes so far as to say that having no insurance can actually help valuers at times because they have nothing to fall back on, and will then be less negligent. But he clarifies that having insurance can actually be good for competition because buyers feel safer with companies that do have insurance.Government support:On the question of whether the government should establish a governing body to overlook issues with real estate and valuation, Heang responds by explaining that there are actually people who do that right now, but there are less than ten under the general real estate and industry department who are able to do it.This is a cause for concern as there are thousands of ongoing and new projects in need of attention. This sometimes makes the management of all issues impossible for the current government department. Although, Heang says that recently the CVEA has served as the right hand for the government whenever possible in this field.Data collection:Another issue Cambodia has with valuation standards is that there is no central database for valuation transactions to serve as the basis for valuers to gauge relative values across the market. However, individual international firms like Knight Frank do their own data gathering through their research teams, using collected sales data.When asked why these firms are not teaming up with local organizations like CVEA in order to form a singular data, Wheble explains that they are actually open to doing so, but not all companies are as open to becoming transparent with their data as Knight Frank.He says that this is stopping progress on this front. Kim Heang says this is due to tax regulation. Some companies do not pay their tax completely and that’s why these companies choose to remain silent with sold price data. But if this is not the case, he says that the CVEA can do the data collection and analysis to be able to create a more centralized database. Having this reference will then affect what professionals use for valuation, as comparable data will be easier to obtain.Marshall closed the luncheon by saying that Cambodia still has much to do for Cambodian property valuation, but they “know that the industry is moving towards more professionalism.” And certainly this step towards a more organized and systematic future will have positive effects on how transactions will be made in the Cambodian real estate industry, and sustainable growth for the greater economy moving forward. Need a Cambodian Property Valuation? We can put you in touch with Cambodia’s best valuers NOW!

Many people work a long time in order to save up for their future, but when they finally get the money to invest in something, they’re uncertain where and how to utilize their financial resources.This is especially true when they finally decide to invest in the real estate or property where even professional investors run into issues all of the time. Properties and land in Cambodia can be confusing and has the potential to take your money without a return if you’re not sure what you’re doing. This is something that Alex Evengroen backs up. Evengroen is the CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee.Evengroen says that “if you just buy random land, it will most likely backfire. Educate yourself and ask around before you invest!” There are plenty of resources and information available which you can use, like real estate portals, agency reports and government statistics. If you’re not sure how to interpret the data you find, then you can get a real estate agent or agency to look at the properties for you so that they can give you an honest evaluation.If you are looking for credible and competent agents, there are plenty of agents that are also registered with the Ministry of Economics and Finance through the CVEA.I have $100,000 free for investment in property… What should i do? When asked where investors can spend $100,000, Evergroen states that it will be wise for people to buy land because "land is going up, always." It’s a good opportunity to increase your investment quickly and get a return. And since the real estate industry is still rapidly growing with new policies being implemented by the government, now may be the best time to invest in it.He adds that there are also still a lot of rural areas that are left unnoticed due to developments being concentrated in key areas like Phnom Penh. So, once land resources are exhausted, you have the ability to increase and dictate the price of land either for resale or rent. But before buying land, it is encouraged to do much research on trends and to crosscheck pieces of information you receive.Evengroen also offers that if people were to invest in an already completed property, lower end condominiums would best suit the given investment amount since these types of properties only cost $40,000 to $100,000. These will soon be popular for middle class Cambodians and will be released into the market in the next 18 months. This will spell an easy profit of up to around $25,000 after completion.Evergroen further explains that "Cambodian people, they love it when something is finished and it's touchable." So, whether you’re looking for investments you can sell again or have someone rent out, lower end condominiums are great properties to invest on. It’s very difficult to earn $100,000 and it is very easy to lose it if you invest without caution. So, before placing your money on properties, be sure to always know what you’re getting yourself into.Learn more about Investing in Cambodia now, on Realestate.com.kh

Recently, Century 21 Cambodia released it’s Condominium Market Report H1 2016 in Phnom Penh at the Raffles Le Royal Hotel.The release was well attended by various partners, investors, and Century 21 agency managers from across the nation. In the speech of Mr. Kuy Vat, Chairman of Century 21 Cambodia, he mentioned his appreciation of Realestate.com.kh and offered thanks for Realestate.com.kh’s cooperation with Century 21 Cambodia, and the development of the real estate sector in Cambodia generally.“It is with pleasure that Century 21 Cambodia work closely with Realestate.com.kh,” said Vat. He added that, “I think that Realestate.com.kh has become a renowned company in Cambodia. As this company has grown, they have played a very important role in the development of Cambodia, especially within the property market realm.”He also mentioned that in order to have the Cambodian property market continuing its strong growth, stakeholders in the market should partner to develop the industry together for the good of all, whether they are developers, constructors, real estate agencies or media companies. “For instance, Realestate.com.kh is an online marketing company which works to advertise property inside Cambodia on behalf of agents and developers. But, Realestate.com.kh also has a very comprehensive marketing reach outside of Cambodia,” said Vat.“Innovation like this will significantly help our country in promoting our real estate market to foreign investors,” says Vat.Century 21 Cambodia is the exclusive holder of the Century 21 Trademark & Systems in Cambodia and oversees all Century 21 franchise offices across the Kingdom. Realestate.com.kh is the official property portal partner of Century 21 Cambodia, and has actively cooperated and supported Century 21 Cambodia in bringing the Cambodian real estate sector to a wider international market. By doing so, Realestate.com.kh has increased the exposure of Cambodian property to investors across Cambodia and the world. And nowadays, Century 21 Cambodia is working and very hard to develop international networks of investors and agencies in order to take the Cambodian property market to the center of the world stage.Century 21 Global is present in over 78 countries worldwide, and Century 21 Cambodia are currently leveraging these connections to bring new investment opportunities and new investors to the Cambodian market. Vat believes that with strong connections between all stakeholders in the real estate sector, together we can support the long term development of this market.He also believes that development companies with long-term interests in Cambodia will only survive when they work with strong and innovative real estate agencies. “Success may not happen overnight, but if we partner with the right companies it is a matter of time before our real estate industry is very successful,” concluded Vat. Check out more videos about the Century 21 Condo Report from Mr Chrek Soknim, CEO of Century 21 Mekong and Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia.

Many investors, international and local, are purchasing condominiums in Cambodia, pre-sale, under construction/off plan, direct from the developer. When they do so, they enter into a sales and purchase agreement with the development company. Upon signing this SPA agreement, the condo is purchased and both parties must fulfill their full obligations in terms of payment and delivery of the finished condo unit.  However, there is some current confusion regarding whether or not a Cambodian Lawyer or Notary must also sign as witness to such agreements.This confusion exists because commonly these sales and purchase agreements only stipulate that there is a co-signing “witness.” “Party A” and “Party B” have signed being “Buyer” and “Seller”, and there is also a place for a “witness”. Hence the question begs: Is it a requirement by Cambodian law to have a lawyer or notary to sign in this witness section?And, if it is not a requirement to have a qualified witness, is it still safer to have a lawyer or notary sign instead of a civilian?The answer to this is as follows:The Law on the Implementation of the Civil Code sets out certain requirements for the execution of real estate contracts:Pursuant to Article 9, in conjunction with Article 336(2) of the Civil Code, a contract that transfers ownership over immovable property only comes into effect when such contract is made by a “notarial document”. Article 9 of the Law on the Implementation of the Civil Code clarifies that a notarial document is either:1) Made by a notary, or; 2) A privately-produced document authenticated by a notary, and dated and signed by the notary after the authentication; or; 3) A document made by a competent officer for registration process. As there are a relatively small number of official notaries in Cambodia (only around 20), in practice, Cambodian lawyers often serve as witnesses to real estate agreements. One more thing to remember is that under the above laws, there is some uncertainty still as to whether the actual land sale and purchase agreement must be notarized or whether the notarization requirement would only apply to the Vente Definitive land transfer form (which is the official land transfer form signed by the seller and buyer, and which can be made by a competent officer at the land office).So, in short, to be safe - make sure you have a registered Cambodian lawyer or notary present when you sign you sales and purchase agreement, and have them sign at the witness.By signing without this authorized witness, your SPA agreement could be considered void at the later date. Please seek legal advice when undertaking real estate and property transactions in Cambodia, and use their experience to your advantage. If you need to be put in touch with an experienced Cambodian lawyer - contact us today!Learn more about investing in Cambodia in our authoritative investor guides.

Today we are at the “TK Royal One” showroom on Russian Boulevard with Mr Chenyi Chiu, General Manager at TC Royal Manor Asset Management. We will learn more about this exciting project.Tell me about the location:TK Royal One is located in the prime location of Phnom Penh city center right on the National Russian Blvd in front of the Royal University of Phnom Penh. In the center of Toul Kork district, TK Royal One is surrounded by various facilities, retail shops, financial institution, schools, hospitals and government agencies which really offer very convenient lifestyle for foreigner and local people. Who is this development for? What sort of buyers?TK Royal One is a class A mixed-use commercial and residential high-rise building in downtown Phnom Penh. The development targets not only the international investors but also local Cambodian who are looking for the modern work and life style with safety and privacy.Talk me through the main features, why should a new home buyer consider this development?TK Royal One is designed with a mixed-use concept with 4 stories of office units, 14 stories of residential units, 4 stories of plenty basement car parking and more than 2000m2 of common facilities including swimming pool, fitness center and hotel like reception lounge. This rarely seen building in the downtown center provides not only the convenient modern lifestyle but also provides the excellent safety and privacy feature for the home owners who.What is the quality of the builder, architect, finishes?TK Royal One was developed, designed, constructed and managed by a group of experienced global team from Taiwan, France, American and Korea. The construction of TK Royal One follows the international standard in terms of structure, fire fighting, mechanical & electrical system and construction safety. Besides that the exterior and interior finishes is designed with modern serviced apartment concept. What types of units are available, at what price ranges?There are only 3 types of residential units available with luxury 2 bedrooms, standard 2 bedrooms and elegant one bedroom ranging from 60m2 to 128m2 starting from $190K per unit.What investment potential is there?Investment in Cambodia is currently at right timing under its fast GDP growing period. With the fast growing foreign direct investment (FDI) from global investors, the Capital Phnom Penh is now transforming into a modern city which will have high demand of modern high-rise building. TK Royal One offers right for the demand for local and international investors.How are the sales to date?Right after our sale launched in March, 2015, within 3 months, all our office units were sold out. And up to now, our residential units only standard 2 bedrooms are still available. We have proved to the market that our project has gained the trust and reputation from the international investors and local buyers. What is the one question I should have asked you about this development that I haven’t?Why the building with international grade is so valuable to TK Royal One and the high-rise building market in Phnom Penh?Although the high-rise building market just get started since 2010, the increasing population from overseas and local in Phnom Penh has created the high demand in the high-rise building market. However, there are very rare high-rise building currently available in the Phnom Penh meeting the international grade and standard. The high-rise building with international grade and standard not only defines the future value of the building but also offers the real safety to the homeowners or tenants. TK Royal One is the now leading project in Phnom Penh which truly offers the international grade features. With this, TK Royal One has established a great model and example for bringing the Cambodia high-rise building market sector to the next level.Thanks for joining us, and check out the full listing on Realestate.com.kh today.

Having received a recommendation from H.E. Chea Sophara, Minister of Land Management, Urban Planning and Construction, the Cambodia Constructors Association (CCA) in collaboration with the Ministry of Urban Planning and Construction will pioneer a regional tour study in order to learn and gather more experience from neighboring countries, such as Thailand and Vietnam, regarding construction worker rules and regulation, on-site safety standards, site management and security. The intention is to learn from experience and raise the market standards in Cambodia.The purpose of this visit is as follows: 1. A study tour by bus, which will be attended by the managers, supervisors, engineers and designersof active construction and real estate companies in Cambodia. The mission is to observe and monitor new technology, and construction and site management in the Cambodian provinces bordering Vietnam and Thailand. 2. To get experience and exchange ideas about the construction sector between private and public institutions, from Cambodia and neighboring countries, with follow up meetings every 3 months to track progress. Participating members can pick up knowledge on different subjects or technical challenges associated with construction using new technology. The experience of each company that is shared during this tour and following meetings will contribute to the development of the country's construction sector, and ultimately allow it to become more abundant and sustainable into the next years. It should also benefit the well-being of those who work in this industry, whether management or construction worker on site. If you or your company interested in joining this tour, please contact us Mr. Vutha today on Tel: (855) 60 888 944 | 10 94 76 40 or Email: vuthatim01@gmail.com

Realestate.com.kh caught up with Mr George Kachmazov, founder and managing partner of Tranio.com, an online overseas property start-up. Kachmazov is a respected real estate and investment expert, as well as a keynote speaker at many national and international property conferences, and regularly contributes to print and online media with insight on real estate trends and advice for first-time investors. We know there is a large population of Russians in Cambodia. Are Russian's interested in the Cambodian property market now? If not yet, what might be attractive about Cambodia for property investment for Russian buyers? It’s true that there are many Russians who spend winter seasons in Southern Asian countries, including Cambodia, Thailand and Vietnam. Many of them rent out their Russian apartments and rent homes in Asia. We have had enquiries for apartments and townhouses in Sihanoukville in 2013–2014, but demand on Cambodian real estate is very low compared to other countries.There are several things that might be attractive about Cambodian property: low taxes, low prices, relaxed lifestyle, friendly people, new experiences. There are Russians who see drawbacks, though: lower market transparency (compared to Europe) and Cambodian property ownership restrictions for foreigners (they are not allowed to own land).What other ASEAN regional countries are attracting attention from Russians? We see interest in Thailand and Vietnam. In the whole, ASEAN countries are more popular among far-eastern residents of Russia because of the distances. For example, our research shows that people from the Vladivostok region (east of Russia) are three times more interested in Thai property than Muscovites who prefer to buy property and spend holidays mainly in Europe because it’s closer. How can a Cambodian property seller make their property more attractive to potential Russian buyers? what features are they particularly interested in? what terms of sale etc?Be trustworthy and convincing. Russians are often skeptical and ask for substantial facts and proofs. They tend to be in doubt: “Why should I work with this seller? Should I purchase this property or wait until I find something better?” This often results in prolonged or delayed transactions. Also a Cambodian property seller needs to be open and transparent, because Russians are afraid of scams. If you sell residential property for buyer’s own use, sell lifestyle and emphasise aspirational features of a property and location. Unlike many Westerners, Russian buyers tend to buy more on emotion and less on price. As for features, Russian lifestyle buyers prefer houses and apartments in a close proximity to beaches, and sea view may be demanded. Do support and advice at all stages.   What are the most popular locations for Russian investing overseas?Judging by the number of enquiries on Tranio.com in Q1 2016, the most popular countries are Spain, Germany, Italy, Montenegro, Czech Republic, Finland, Austria, Hungary, France and Slovenia. Spain has maintained absolute leadership during the last several years, and buyers stay attracted by relatively cheap property (prices dropped by 40% in seven years), sea and warm climate. Germany, strongly placed as number two, is preferred by those of our clients who want to invest in rental real estate, diversify investment and protect capital from Russian risks. What type of properties are they Russians usually seeking abroad? A big proportion of clients buy apartments by the sea for their own use – either to spend holidays overseas or to move permanently. This kind of buyers are active in Spain, Italy, Montenegro, France and Turkey. Since 2014, we are working closely with clients who want to invest in real estate rather than spend money on holiday villas and flats. This kind of buyers tend to purchase residential property to rent it out (according to our research conducted in 2015, 63% of respondents in commercial property market choose rental apartments). Mini-hotels are also popular (21% of respondents), as well as rental blocks of flats (16%).What are some facts and figures on total outward investment in property by Russians?Investment into overseas property was gaining in popularity since early 2000s. 2012–2013 showed a considerable increase in the number of Russian-speaking clients. In many countries, including Spain, Bulgaria, Latvia, Turkey and Montenegro, Russians took leading positions in the residential property market. But after 2014, when the ruble had plummeted, investment volumes decreased dramatically. In 2012–2013 Russians invested in property overseas more than 400 thousand dollars every three months, and in 2014–2015 about half as much. According to the Russian Central Bank the volume of transfers was down 30% year-on-year, checking in at just 199 million dollars, compared to 281 million dollars in Q1 2015 and 484 million in Q1 2014.Not only is the investment volume is shrinking, but so are buyer budgets. On the other hand, we have noticed a growing demand on investment property, particularly in terms of income-generating buy-to-let residential and commercial premises. Also our clients become more and more interested in development projects.What are the key motivating factors for outward real estate investment for Russian buyers?Five-six years ago, Russians were motivated by a “superplus” of money, they had enough liquidity to invest into seaside resort villas and enjoy European lifestyle. Between early 2014 and May 2016, the US dollar rose against the Russian ruble by over 80%. So, property overseas became much more expensive for people who earn income in rubles. The main motivations for Russian buyers now are extremely low mortgage rates in Europe and opportunities to invest money into safe, low-risk markets. Why is online marketing so important for international property buyers?According to National Association of Realtors of the US, three quarters of buyers start searching for property by looking at Internet listings. Word of mouth simply isn’t enough, every real estate company has a website, and it’s essential to promote it and raise its visibility in search engines so that potential buyers would be able to find it among thousands of other sites. Since 2014, we’re promoting the English version of our website, Tranio.com. Today at least 5% of our audience are clients from Europe, Asia, America and the Middle East, and their share is constantly growing.Tell us more about Tranio: Tranio is an international real estate broker. We help our clients buy and rent property directly from foreign agencies and developers without extra charges and unnecessary intermediaries. We are not just a real estate website because we provide support and advice at all stages of selecting and buying a property, and we are not a traditional real estate agency either, because we have about 500 partners all around the world, and we do not favour any particular agency or developer at the expense of the others. Also we publish news and reports on property overseas and give an expert advice. In 2013–2016, we closed 500 deals. How long has Tranio been around? What inspired it? We’ve been on the market for six years. After my family had bought a second home in Croatia in 2010, I had an idea to create a real estate business. I saw potential in this segment, as there were many clients, a lot of interesting products, and low competition in Russia compared to the vast market capacity. We started to design and develop the website in 2010, and launched the full working version in March 2011. At first, we planned to monetize the website the same way most real estate sites do — by selling advertising and paid listings. But very soon we disliked the idea because abundant advertising always makes a website less user-friendly and lowers its quality. In 2012, we changed the mode of monetization and became a mix of Internet portal and real estate agency. We were selling second homes by the sea and helping people spend their money on lifestyle. In 2014, we launched the English version of our website, started working with international clients and sell buy-to-let commercial property. The change in business strategy helped us not only survive the crisis but also rise sales volumes despite decreasing demand on real estate overseas. As the crisis hit the Russian market in 2014–2015, we changed our strategy once more. We saw investors rising their yield expectations as yields were falling gradually in every European country due to high demand and relatively low construction volumes. We understood that the only way to earn money in today’s market is to invest it into projects of added value, namely into redevelopment and renovation projects, and we started to offer them in 2016. Our next goal is to create our own redevelopment project. We are planning to find investors, purchase a multifamily building in Spain, renovate it, create micro-apartments and sell them to end users who will either use units themselves or rent them out. At the same time, we will go on expanding the share of international property buyers in order to protect our business from Russian risks. Some other articles George has recently contributed to: Five reasons why guaranteed high yields don’t exist ; Russian crisis breeds a mature generation of property investors ; How property plays a role in balanced pension investments ; Buy-to-let investments in Germany are a boon for small budgets ; Risks: macro and micro pitfalls in property investment strategies ; Overseas Investors: Tricks To Financing Your Property Investment In Europe

CBRE Cambodia’s recently released report outlines the details of the changes that Phnom Penh experienced throughout the 1st quarter of 2016. The report includes data and analysis gathered from the increasing activity in the land, condominium, office, retail, and serviced apartment markets.Phnom Penh Land Q1 2016Despite a bleak outlook on land prices which is expected to decrease by the end of the year, the land price index has shown a significant increase during the first part of the year all throughout principal districts. Land prices have gone up by an average of 4.8 percent during this time as well. The report also notes that prices in areas like the 7 Makara and the Chroy Changvar districts saw a quarter on quarter increase of up to around 8.3 percent to 8.8 percent. This may or may not be a good thing, depending on which part of the transaction you’re on. This is good for current investors who saw a high return of investment. But this may be an opportunity for future investors to shift their focus to the outskirts of the capital city.Phnom Penh Condominium Q1 2016According to the report, there were 8 projects that were announced at the beginning of this year which ushered in a total of 4,158 additional condo units. This is a staggering 61.6 percent year on year increase. As a result, the average sales prices for condo units across all unit types went up by 4.1 percent.Off-plan prices for high-end units, on the other hand, grew a steady 5.7 percent where Chamkarmon took the lead and contributed 2,900 units or 70 percent of the off-plan condominium sales.Based on the figures as well, a number of newer high-end and middle class condominium unit supply will be from international developers, where China and Taiwan are the frontrunners.Phnom Penh Office Q1 2016While the condominium market saw much of an improvement this past 1st quarter, the office market hit quite a few roadblocks. This caused occupancy rates to diminish by 1.5 percent, despite the construction of 3 new office buildings with a leasable space of 17,260 sqm.But it wasn’t all bad as both Grade B and Grade C office rents rose up to 1.3 percent and 2.6 percent, respectively. In addition to this, the quoted rental prices for Grade A office properties remained stable at $28 per square meter.Taking all these into consideration, as it stands now, the total officespace occupancy rate in Phnom Penh is at  74.4 percent.It’s not all doom and gloom for the office market though as 5 office projects will be available for investors in the near future through the use of strata titles or long-term leases.Construction for these projects started during the early months of 2016 wherein each development had launched off-plan sales during 2015.They’re expected to contribute a net space that’s estimated around 84,000 sqm by 2019. The average asking price stands at an average of $3,475 per square meter where Grade B spaces will take a projected 64 percent of the future office space supply.Phnom Penh Retail Q1 2016While there were a series of activities that showed activity in different real estate markets, retail showed little to none.It remained relatively stable during the 1st quarter but is expected to change in the months to come. One important event to note though is that the Sorya Shopping Center announced a renovation and rebranding project that will relaunch it as the “Sorya Center Point”.Starting off a bit slow this year, the retail supply in Phnom Penh is expected to pick up and grow significantly before 2018 ends. This will be the effect of “a combination of new international shopping complexes and significant retail components within predominantly residential and mixed-used schemes.”One of these is the Parkson Phnom Penh City Center which is set to launch any time during the 4th quarter of 2016.The Parkson Phnom Penh. City Center will have 57,000 sqm of leasable space, alongside Hong Kong Land’s Exchange Square which will have a total of 8,000 sqm of leasable retail space before the 2st quarter of 2017 end.Rents, on the other hand, remained consistent all throughout the 1st quarter, except with rents from purpose built retail malls. This saw a fall amounting to 1.6 percent. Unlike the retail supply, this trend is set to continue as requirement reviews are being done by retailers in terms of pending developments that are set to be delivered within the next 12 months.This will most likely be affected by international brands seeking prime retail locations for different uses. Among the top uses is the Financial and Professional Services which occupies around 9.2 percent of prime mall space and 33.2 percent of prime high-street. Food and beverage doesn’t fall behind which accounts for 14.2 percent of high-street retail spaces and 25 percent of retail malls.The report states that “2016 is set to welcome a wave of new international brands, with active requirements for both prime shopping mall and high-street locations driven principally by Food and Beverage/ Fashion and Accessories retailers.”Phnom Penh Serviced Apartment Q1 2016In contrast to the other markets, it seems as though service apartments had been luckier with an increase in supply that spurred by around 5.6 percent in the first quarter alone.According to the report, a huge factor for this is because of the Grade C serviced apartments coming up to 4,645 units with a recent addition of 246 similar projects. This may be the reason why it is the most prominent Grade type in Cambodia, making up a rough estimate of 71.6 percent of all units, in contrast to Grade A and B serviced apartments that only account for 19.9 percent and 8.5 percent of the units, respectively.This is probably why prime serviced apartment rents remained stable during the 1st quarter where rental rates ranged from $500 per month for a one-bedroom Grade B apartment to $8,000 per month for one of the higher end penthouse units. This is not far from prices during previous months and quarters.This stability also contributes 85.6 percent of the occupancy rate where the majority of the capital’s current serviced apartment supply is located.The report aims to provide insight for investors and developers in order to gauge whether or not to proceed with their potential or ongoing transactions. In the end, it is important to look at this data to form informed decisions and make calculated risks.Check out all listings from CBRE

Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?

Residences L Cambodia offers 2 exciting new condo projects located in the heart of Phnom Penh city, namely Residence L BKK3 in Sangkat BKK3 and Residence L Boeung Trabek 2 in Sangkat Boeung Trabek 2. These projects are currently under development with the management of L.C.P.P Residence Co., Ltd with its headquarters in Phnom Penh. Other projects already completed by this experienced local developer includes Residence L Boeung Trabek, Residence L Sovan - both of which are completed - and Residence L Olympic, which will finish construction at the end of 2016. The sales success and track record of quality behind Residence L guarantees every new buyer security over their new asset and a finished-product quality that is currently leading the mid-range condo market in Cambodia. At the completion of all of these projects, Residence L company will have produced a grand total of over 800 condo units to the Cambodian market.Project after project, Residence L continues to sell out new developments! Modern people want to live in a luxurious, secure and modern condo in the center of the city, and this is exactly what Residence L offers!Residence L BKK3 has 21 storeys and Residence L Boeung Trabek 2 has 20 storeys, both with 1 and 2 bedroom condos available in a variety of floor sizes. All units’ interior has been uniquely designed to suit the space and style, and each unit is fully equipped with high quality fittings and furnishings. Common-use condo facilities include a swimming pool, gym, full security and expansive car parking facilities. The price range for all of Residence L condos is between $40,000 and $100,000, depending on unit sizes and specs.The locations are both close to central business districts, shopping malls, Russian Market, the Chinese Embassy, banks, hospitals and various gyms and sporting facilities. Ms. Sok Kim Sour, sales representative for Residence L, said, “Our buyers are an equally divided mix of locals and foreigners, and many of them buy the units to rent out in the future.” Of course you can live here yourself, but if you buy as an investment property to rent you can safely expect a monthly income of around $400 - $1000 per month per condo unit, based on current rental rates for similar properties in these areas.Residence L Cambodia is an apartment and condo building offering a premium lifestyle to its customers, located in the city’s fast growing hotspots. And Residence L is a place to call home… Find out more today.Residence L BKK3 in Sangkat BKK3 and Residence L Boeung Trabek 2 in Sangkat Boeung Trabek 2.

More concrete details surrounding WorldBridge Land’s proposed $100 million affordable housing project have surfaced, however the Cambodian government’s involvement in the development remains unclear.In November 2015, WorldBridge and Singapore-based construction company, Straits Construction Singapore Pte. Ltd, announced a memorandum of understanding (MoU) on affordable housing with the government. The company currently has two major condo developments underway: The Peak and The Bridge.Oknha Sear Rithy, WorldBridge group chairman, told Realestate.com.kh this week that although specific details concerning location would be confirmed when the project is launched at the end of this year, he said the development would be located around 17 kilometres from the centre of Phnom Penh. It is unclear if the government has offered land concessions for this project.“For our first project, the company has land and we will build the houses on that land, and sell it to the eligible buyers with incentives and regulatory support from the government,” Rithy said.“In the future, the government may have land available for private developers to develop into public housing projects.”Rithy said the company had been collaborating with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in relation to the project’s planning stages. “Together with our strong partner, Straits Construction Singapore which has built public housing in Singapore since 1982, we have been working closely with the MLMUPC on the draft regulations for the public housing to make sure that the regulations are responsive to the interests of concerned parties: the buyers, the state and the company,” he said.“There are various forms of public and private partnership in public housing development as stated in the government’s National Policy on Housing.”For this particular project, slated for completion within two years, Rithy said, “We have strong hope that the government will provide us investment incentives including tax exemption and provision of infrastructure connection to the project site in addition to the development of regulations that promote public housing projects.”The houses will range from $25,000 to $30,000, and Rithy added that financial assistance will be available in the form of housing loans for buyers.“We expect that the initial deposit is around 10 per cent of the housing cost, and the buyers can pay the remaining sum in monthly instalments.”“I believe a lot of people can afford that,” Rithy added.In terms of financing options, Rithy said the company would work to ensure favourable loan terms.“Our company will work with commercial banks and hopefully international development banks to make housing financing available and affordable by the low and middle income families. So far, those banks have already been in touch with us to realise such collaboration,” he said.“As for the government’s home-loan financing, it is already stated in the National Policy on Housing though it may take some time before such state financing mechanisms can be put in place. We hope that, in a longer term, the government should be able to play that role too.”Rithy says affordable housing plays a key role in Cambodia’s sustainable development, and is something that is in high demand. “Not different from birds, either big or small, every family needs a proper shelter or a place they can call ‘home’ regardless of their income status. So far, we have seen a lot of developments and supplies of boreys and high-end condominiums, which are good for upper middle and high income households, but are beyond the reach of low and lower middle income families, who also deserve the opportunity to own a home,” he said.“So, there is a real demand from the lower end of the housing market.” The developer – Cambodia Natural Lucky Real Estate, currently building Sino Plaza near Boeung Trabek Plaza in Chamkarmon district – has also recognised the need for affordable housing in the local market, according to a self-published report titled, “Housing a Kingdom: Affordable housing for Cambodians”. The private report, which was recently handed to the MLMUPC, notes: “Affordable housing is a huge concern among young, young families and middle-income group of Cambodians. Cambodians in this segment are increasingly finding themselves priced out of private housing.”In response to this, Cambodia Natural Lucky states that, “10 per cent of the whole

Sihanoukville is located in the southwest area of Cambodia and is known for its beautiful beaches and wonderful people. It is also home to some exciting new mixed use developments, such as D’Seaview by Camhomes. But recently, the province had experienced some significant policy changes which have influenced the Sihanoukville real estate market quite dramatically.ALL REAL ESTATE FOR SALE IN SIHANOUKVILLE The news of partitioning the province into three sections/zones and classifying them as luxury beaches for the private sector, public beaches for the private sector, and public entertainment beaches came as a surprise to many after Cambodian Ministers, Thong Khon and Chea Sophara, had their discussions on the matter. The move, however, was met with heavy scrutiny after many local businesses in the area were demolished – particularly in the Otres and Ochheuteal beach areas. As a result, complaints were filed through the Interior Ministry in an attempt to come to a compromise. In a recent video interview with Realestate.com.kh, current president of the CVEA, Mr. Kim Heang, weighs in on the current status of Sihanoukville real estate as an investment destination.So, how do recent policy changes affect property investment opportunities in the province? Despite the recent changes, Heang suggests that Sihanoukville is still a good place for investment. He adds that the best time for investing in Sihanoukville real estate is anytime from now, into the next 5 years. This is because in the short term, properties here are still relatively inexpensive and still have great potential for investment returns. This may be attributed to the recent real estate segmentation/zoning being implemented by the government that will pave the way for better zoning management and policy conception into the coming years. This progress will only stimulate the economy of the province in the longer-term. Heang further explains that if there is a clear master plan for Sihanoukville and it is followed through with conviction, Sihanoukville has the potential to become another Singapore, or at least a Phnom Penh. But this will not happen without serious attention to infrastructural upgrades, such as stronger rail and road connections, and deeper ports. Although there are already plans to strengthen the infrastructure, Heang says these plans still have a long way to go.ALL REAL ESTATE FOR RENT IN SIHANOUKVILLE Railway Infrastructure Capacity Needed:Currently, it takes about eight hours to come from Phnom Penh to Sihanoukville via train, says Heang. Improving the railways and making the system at least three times bigger, he adds, would make this journey just 2 hours. This would also allow ease for sharing resources such as materials and workers that would be helpful in construction of additional infrastructure and property developments in the port city. Having a faster train system would make the entire province more profitable for investors in a much shorter amount of time.Sihanoukville Real Estate for Commerce: Sihanoukville is also a popular tourist destination for both locals and foreign nationals. So, for those looking to invest in commercial properties in the area, there is already natural and organic foot traffic to work with.While Sihanoukville is currently undergoing changes, it clearly has a bright future to come.LEARN MORE IN OUR SIHANOUKVILLE LOCATION PROFILE