Urbanland is firmly setting themselves above the competition when it comes to Phnom Penh inner city design and residential development.  Their hugely successful Embassy Residences project, set for completion by the end of 2016, has sold 90% of all its available units. This year also heralds the upcoming launch of their second condominium project, Embassy Central. Mostly through word of mouth and exclusive networking and open house events, Embassy Central has steadily seen increased buzz and interests from buyers and investors. Hok Kang, the founder of Hok Kang Architects and Urbanland, is also the principal architect behind the leading locally owned cafe chain, Brown Coffee. Launching its first Brown’s branch on the capital’s Street 214 in 2009, the chain now has 11 unique locations each with its own architectural flare thanks to Hok and his team of architects & designers. While each Brown Cafe in Phnom Penh reflects consistent architectural and interior design themes, all embrace their own individual spin; a franchise style that the Phnom Penh cafe culture seems to have wholly accepted. Urbanland consistently separate themselves from rival projects with their attention to detail and sleek, usable design, and this is clearly demonstrated at the highly popular outlets of Brown Coffee, each humming morning and night with coffee-sipping Phnom Penhers. Meanwhile, both of Urbanland’s condo developments have heralded popular success too, for many of the same reasons. Both Embassy Residences and Embassy Central were not only shortlisted for the Cambodia Property Awards 2016 on 25 February but in fact both were awarded top in their entered categories. Embassy Residences was awarded the “Best Condo Development in Central Phnom Penh” award at this year Cambodian Property Awards series, and both Embassy Residences and Embassy Central were awarded the “Best High Rise Residential Architectural Design” prize. Upon winning the awards, Victor Huot, Urbanland's Marketing Manager said: "Being a new developer, we feel that we can separate ourselves by focusing on creating great quality spaces that we know this market needs and being awarded the top prize for both our projects gives us the confidence to keep heading in that direction." Urbanland enters all of their projects with a clear and uncompromising vision, and this confidence and demand for quality is impressing buyers.Embassy Central, an 119 unit, 25 storey condo, holds a prime location in Boeung Keng Kang 1 (BKK1), Cambodia’s classiest suburb and home to some of the city's best shopping, eating and entertainment venues. Residents can enjoy the swimming pool, multi-function room with courtyard, fitness center, sauna, outdoor dining area, and - unique to this development - residents will find some reprieve from the buzz and the heat of the inner city with the help of four idyllic sky-gardens. The project nearest completion, Embassy Residences, an 85 unit, 18 storey complex located to the south of Norodom Boulevard, shall feel the beating heart of Phnom Penh’s CBD. Facilities include guard house, underground car park, swimming pool and sundeck, children’s play center, fitness centre and lush sky garden. All condo units within Embassy Residences are furnished to the very highest standard and decorated in modern taste. "As a young local team, our mission is to help shape the landscape of Phnom Penh by creating buildings and spaces that inspire people and through this, we hope that people will start to demand quality designs and products like Embassy Central," said Victor Huot, Marketing Manager at Urbanland. Want to find out more about Urbanland’s projects currently for sale on Realestate.com.kh?Check out the full listing for Embassy Residences; and the exciting new project: Embassy Central.

Realestate.com.kh is proud to be the “OFFICIAL PROPERTY PORTAL” of the 2016 Cambodia Property Expo, in association with AMB Tarsus Events Group.The Cambodia Property Expo is an annual, international expo that brings together a host of the nation’s finest construction and property related companies under one roof. It is hosted by the Cambodia Constructors Association and the Ministry of Land Management, Urban Planning and Construction, Cambodia.  The Cambodia Property Expo allows industry leaders to share knowledge and experience with each other, and show the public their latest projects and accomplishments. A wide variety of property developers also attend the event to showcase their latest projects and offer expo-only discounts to new buyers. By attending the Cambodia Property Expo, all exhibitors will also get an opportunity to build business relationships and network with all attendees. Meanwhile, guests from the general public will get a unique and comprehensive insight into the Cambodian construction and property industry. The Cambodia Property Expo proudly unites property owners and buyers, key shareholders and decision makers, builders, contractors, architects and real estate agents and consultants all in the same place. This expo is is not to be missed. CAMBODIA PROPERTY EXPO '16Venue: Diamond Island Convention & Exhibition Center Chamkarmon, Phnom Penh, Cambodia Phnom Penh, Cambodia Date: 8-10 September 2016Contact Information for Exhibitors, Sponsors and Guests:AMB TARSUS EVENTS GROUPM: +855 16525142 E: veasna@ambtarsus.com DOWNLOAD THE FULL EVENT BROCHURE

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) will launch this April 1st at the Phnom Penh Hotel, 8:30am until 5:00pm, with a host of the local and regional industry leaders giving their outlooks on the state of the Cambodian real estate market.  Realestate.com.kh caught up with the speakers of REMOC2016 to get their 2 cents on the state of the current and future Cambodian property market prospects.Mr. Sim Hoy Chhoung, ceo, V Trust Appraisal Co. Ltd:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC2016 I will be speaking about property valuation industry and practice, and its importance in Cambodia. Of course, property valuation should be considered the heart of all the real estate activities and a key to developing our industry. This means that brokers and salespeople serving their clients should have a good understanding of valuation; the concepts, practices and methodology. A seller’s unrealistic asking price is a roadblock that an agent should avoid to save time and effort! Because banks take property as collateral to secure loans, weaknesses in valuation processes in the booming years could lead to a banking crisis later on, as we see from lessons learned from the Central Bank of Ireland study 2012.What were the most significant developments for the property market over the last year?Last year was the year of the condo and retail development. Thousands of units of condo launched and international grade shopping malls starting construction. These new developments still drive land market prices higher and higher until late last year.What makes you optimistic and what worries you about the Cambodian real estate market?Personally, I would not be worried about the real estate market for the year to come. The market will correct itself. In addition, compared to other countries, Cambodia still has a strict credit limit on mortgage loan and interest rates are high, and terms are shorter (below 70% credit availability while other countries are up to 80% or 90%). Let’s imagine what is going to happen if banks can increase the limit, lower interest rates or extend the terms... Or alternatively, if the government did some things to benefit the condo market such as taxes incentives… Steps like this could add more liquidity to the market and quickly boost it.What significant changes are you anticipating for the Cambodian real estate market over the next year?There will be a market correction in some subsectors and a switch of project development proposals toward the sub-sector’s that exhibit continuously high demand. The only thing that we all should know is that the market space is becoming narrower; so before committing to doing a development project, there needs to be a detailed market and feasibility study. And Vtrust is here to help in this regard. As I mentioned earlier, there are still room for policy makers to manipulate. So over the next year, the market can remain stable, one way or another.Thida Ann, senior associate director, CBRE Cambodia:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? CBRE are really pleased to be involved in the conference and will have two speakers discussing the commercial office market and also Phnom Penh's Serviced Apartment Market. CBRE will aim to provide attendees with new insights and outlooks into these key sectors through our active market participation as the leading international property advisory firm in Cambodia.What were the most significant developments for the property market over the last year? 2015 marked another extremely active year in the Cambodian property market with all sectors seeing significant activity. To run through a few key trends; CBRE tracked land price appreciation at approximately 8.4% across central districts. New mid-rise office developments that came on stream through 2015 saw strong take up and grade B and C rents increased by 6.2% and 2.3% respectively. 7,014 condominium units were announced across 26 buildings in 2015 bringing total future supply due for completion by 2018 to 21,414 units. Chamkarmon saw the greatest number of project launches announced with a 37% share, secondary locations such as Sen Sok and Chroy Chang Va accounting for 15%. Occupancy in serviced apartments held strong at a healthy 90% with occupancy keeping pace with supply.James Padden, Commercial Agency Manager, CBRE Cambodia:What makes you optimistic and what worries you about the Cambodian real estate market?CBRE are optimistic about the office market. Exchange Square is due for completion in Q4 16 and has seen strong interest locally and regionally highlighting growing demand for grade A space in Phnom Penh. Increasingly we are seeing interest from companies in office space in secondary cities such as Sihanoukville, Battambang and Siem Reap highlighting that Cambodia is not all about Phnom Penh but these provincial cities are seeing strong economic growth in their own right.I think there is a need for caution regarding the residential market and we are yet to see strong domestic owner/occupier demand that is required for condominiums to really drive the market forwards. Existing investment is predominantly by overseas investors looking for capital growth. This market will be driven long term by Cambodian occupiers and this has been slowly changing but is yet to become a clear segment of demand.What significant changes are you anticipating for the Cambodian real estate market over the next year?We have seen the announcement of strata title office space for the first time in 2014 and this is a welcome trend with this asset being a popular investment in other markets such as Hong Kong and Bangkok. There will be further segmentation of the office market as Exchange Square adds to grade A office stock. High prices and limited availability of land in prime, central areas is likely to continue the trend for development in secondary locations such as Sen Sok and Chroy Changvar. I think we will also see continued development and investment activity in provincial cities such as Sihanoukville, Battambang and Siem Reap. Overall we expect 2016 to be a year of a lot of activity driven by Cambodia’s continued strong economic growth and further bolstered by the movement towards ASEAN integration as there is continued intra-ASEAN investment and regional expansion of businesses out of their home markets.Chrek Soknim, CEO, Century 21 Mekong: What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At the upcoming REMOC-2016 on 1 April, I’m going to talk about the most updated Phnom Penh's Condominium Market and Trends, with Most Insights into Primary Market, Supply, Demand, and Key Successful Factors for Developers.Condominium isn’t a nascent market anymore in Phnom Penh. It’s been here now eight years, yet there are many things for developers, buyers and key players to carefully learn to get into the market insights so that they can gear to the right paths for this real estate subsector. What were the most significant developments for the property market over the last year?I believe condominiums are one of the solutions to curb with heavy traffic, increasing land prices, convenience, and a quick pace of modernizing living standards among young white-collar generation. However, with an excessive influx of condominium launches last year, the market now becomes stiffly competitive while it also offers numerous choices for buyers.What makes you optimistic and what worries you about the Cambodian real estate market?When looking at the Kingdom’s market absorption rate at an average of 32.4 months, in recent months it’s started to slow down and this needs a careful analysis on local demand, affordability, and trends, instead of relying solely on foreign market comparisons when a new developer wants to enter into condo market.What significant changes are you anticipating for the Cambodian real estate market over the next year?The condo market will suit the young generation and fulfill to their lifestyle demands. This sector will grow very fast if financial support comes from financial institutions providing the easy conditions to afford to buy condos. It is also the open market for the foreigner, which will help to supplement this sector’s growth.Kuy Vat, chairman, CVEA; chairman and ceo, Century 21 Cambodia:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC-2016 to be held on the 1st of April, we’re going to talk about general views on real estate sector, addressing opportunities and challenges for this year and the years to come.Bolstered by a gradual growth of our economy, we’ve seen that the real estate market is growing bigger and bigger, as it is so to meet the rising demand for housing, office space, retail space as well as industrial amenities, just to name a  few.  With lots of improvements in this industry so far, the year 2016 sees many opportunities despite emergence of some challenges that might somewhat cool down the market heat, for example, the condominium market. So far we’ve heard that there’s some sentiment over the condominium market, for instance, that has come with too many, resulting in stiff competition for developers to sell off their projects. But to me, I’ve got a different point of view. First, this will create jobs for local agents who are asked to help developers sell off their units. Second, through numerous available suppliers, it offers an opportunity for foreign investors to come over to our country and enjoy the newly available infrastructure and amenities currently or to be soon in place. Mr. Kim Heang, president, CVEA; ceo, Khmer Real Estate:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At the upcoming REMOC2016, I’m going to talk about situation of real estate industry and address the challenges and suggestion for future improvements in this sector.Construction and real estate sector plays an important role as an economic driving engine by increasing its economic influences on the country’s economy, especially providing construction jobs to about 10,000 workers throughout Cambodia and spillover impacts on several other economic sectors. We appreciate our industry leaders as well as key players for their effort in bringing construction and real estate sector to this point.Nevertheless, without some changes, unity and strong cooperation among the players to further improve and perform best practices for the industry (for instance, valuation subsector), we can hardly develop this sector to become a key leading industry for our country’s economy. Therefore, we have to address opportunities and key challenges for all of us to solve and improve so that everyone in the industry benefits.Hoem Seiha, Director of Research, VTrust Appraisal Co., Ltd:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC-2016 to be held on 1 April, I’m going to present to the audience about the macro perspectives on real estate industry. Developers, policy makers and related key stakeholders need sound knowledge and in-depth insights into real estate sector at macro level so that they can together work to develop and, if any, curb with challenges in the sector.Construction and real estate sector has recently grown its importance to overall economy by contributing to creation of tens of thousands of jobs, pushing demand on mortgages to rise by 19 percent in 2014, and attracting US$ billions of real estate related FDIs that have spillover impacts on many other economic sectors.With my future outlook for this sector, even though real estate market has grown so quickly that it might pose potential risks and growth volatility, I foresee this sector will soon create a new economic engine alongside with the country’s key leading sectors such as garment, tourism and agriculture.Sorn Seap, ceo, Key Real Estate:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere?At REMOC-2016, I’m going to present about the most updated Phnom Penh’s land market, going in-depth into market prices, zoning and development trends in the future.Phnom Penh land prices continue to rise up by 10 to 20 percent a year. Nevertheless, the whole Phnom Penh has many areas that see different price growth rates depending on many factors, including zoning, planned infrastructure, and location special features.Over the last 10 years, I’ve seen that Phnom Penh has expanded quickly. Residents not only concentrate in central business zones but also spread out to form new clusters of housing in the outskirts – with some areas are now home to tens of thousands of residents. Other locations, furthermore, will also have the same experiences in the next few years.Sung Sina, Director, Bonna Asset Appraisal Department:What topic will you speak to at REMOC2016, and why is it a key consideration for the Cambodian Real Estate sphere? Industrial Estate Market, with Most Highlights on Supply, Demand, Market Performance, Zoning, and Future Trends, and Opportunities. Thirty Years after the genocide, Cambodia is just beginning to recover. The garment industryis the country‘s main industrial activity in Cambodia. The main topic will consider the heavy traffic jams developing on the outskirts of Phnom Penh (National Road Number 2, 3, 4, 51, 41, 6A, PPSEZ, Sihanouk SEZ, Bavet SEZ and Other SEZs). I will also consider how to reduce the pollution on the environment, the need for good infrastructure and ways in which we can bring the profit to the villagers in that area. What were the most significant developments for the property market over the last year?  Over the last year, I believe condominiums are one of the solutions to the rush traffic jam, increasing the land prices, convenience, and a quick pace of modernizing living standards among the young generation. However, with an excessive influx of condominium launches last year, the market now becomes stiffly competitive while it also offers numerous choices for buyers. On the other hand, the industrial estate market is located on National Road Number 2, 3, 4, 6 and National Road Number 51, with an excessive influx and new built of factories and warehouses for Chinese investor. What makes you optimistic and what worries you about the Cambodian real estate market? When looking at the Cambodian real estate market averages increasing 5 to 10 percent for 2014, 2015 and 2016. Since last month, it has started to slow down - and this needs careful analysis on local demand, affordability, and trends; instead of relying solely on foreigner market comparisons when a new developer wants to enter into the condominium market. On other hand, with the industrial market increasing year to year, the market now becomes stiffly competitive. Yet, it also offers numerous choices for the renter. What significant changes are you anticipating for the Cambodian real estate market over the next year? The condominium market is increasing the land prices, convenience, and a quick pace of modernizing living standards among the young generation to fulfill to their life style for living. This sector will grow very fast. But the banking and microfinance sector must provide the loans with easy condition so normal Khmer can afford to buy the condominium. It is also the open market, based on the Cambodian Regulation for the foreigner, that will help to push some part of the sector to grow. Don’t miss out on REMOC2016 - find out more details HERE.

D’Seaview brings Sihanoukville’s first fully integrated residential and commercial mixed development, located alongside Sihanoukville’s most beautiful beaches.D'Seaview is selling fast! Inquire todayWith its twin towers standing at 28 storeys each, D’Seaview will bring a collection of premium executive condominiums, commercial units and a hotel to Sihanoukville’s pioneer integrated living complex. The official opening ceremony for the Camhomes’ Sihanoukville office will be held on Saturday, March 26, 2016 - This Saturday! The location of the office, where the opening ceremony will be held, is at Independence Street, beside the 2 Golden Lion Roundabout, Sangkat 4, Khan Mitipheap, Sihanoukville City. This Saturday’s opening ceremony will open to the public from 8:30AM. The chief guest of honour will be Oknha LAV Kang, from the Sihanoukville Chamber of Commerce, will also be sharing about Sihanoukville’s 5 year real estate development plan at the ceremony. With the opening of Camhomes’ Sihanoukville sales office, Camhomes can now provide investors more close proximity information about D’seaview and other Camhomes’ projects. Residents of D’Seaview can expect to live, work and play within the integrated commercial mixed residential development complex in the future, with their daily needs and desired lifestyle fully satisfied within the compound. The first phase of residential units in D’Seaview have already been fully subscribed with its second phase gaining more subscriptions everyday. D’Seaview is also supported by Camhomes’ unique Guaranteed Rental Returns offering: a significant 30% GRR over three years. With the booming tourism industry in Sihanoukville to both local and international visitors, D’Seaview’s integrated hotel and its local shophouse-style blocks are also open to bids from investors and Cambodian retailers looking to maximise their investment returns. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showrooms in Phnom Penh at the Canadia Tower, level 3, or in Sinhanoukville and talk to their property consultants, or check out the full listing information online at realestate.com.kh. And if you are in Sihanoukville this weekend, don’t miss the D’Seaview opening ceremony on Saturday morning. To find out more information about the Camhomes’ Sihanoukville Office Launch, please call +855 23 985 828 today.

BNG Legal Cambodia has released their latest version of the Guide to Doing Business in Cambodia which contains extensive information about Cambodian real estate law and property regulations.This extremely comprehensive Guide to Doing Business in Cambodia gives valuable information for investors and Cambodian-based business people on Banking and Finance, Corporate & Commercial Law, Dispute Resolution in Cambodia, Intellectual Property Laws, Labor Law, Mining Law and Regulations, Marriage and Family Law - and last, but certainly not least, a comprehensive overview of Cambodian law related to Land and Construction.In regards to Real Estate Law and Regulation, the BNG Legal Guide to Doing Business in Cambodia duly covers Legal Ownership of Land in Cambodia, Acquisition of Property in Cambodia, Potential Risks, Enforcement of Property Rights, Establishing Control over Land, Perpetual Leases, Land Concessions, Construction, Encumbrances on Immovable Property and Recently Issued Regulations and New Procedural Rules.This is a great guide for those trying to get their head around Cambodian Property Law.BNG Legal Cambodia our a unique law firm in the Kingdom, able to offer a deep understanding of the local business environment while simultaneously supported by international professionalism and integrity. BNG Legal facilitate business, investment and trade between Cambodia, Myanmar and the rest of the world through innovative and cost-effective legal services. BNG Legal offer all range of real estate related legal services, including residential, commercial and industrial property transactions, Lease negotiation and agreement drafting, title search and due diligence, land registration and titling, agricultural land concessions, financing, mortgages and other securities, construction contracting, permitting, and financing, environmental compliance consulting, advice on Special Economic Zones and tax-optimization.Contact BNG Legal today at: cambodia@bnglegal.com / hhn@bnglegal.comDOWNLOAD THE GUIDE TO DOING BUSINESS IN CAMBODIA EBOOK NOWCheck out articles, news, and views related to real estate law on Realestate.com.kh today!

CBRE Research Southeast Asia has released the results of the 7th edition of the “How Active are Retailers report”. Within this report, statistics suggest that 26 percent of all global retailers surveyed identified Southeast Asian countries as primary target markets for 2016.CHECK OUT THE FULL INFOGRAPHICRetailers primary interests in the Southeast Asian region appear to focus on Mid-range Fashion and Luxury & Business retail sectors.

Century 21 Cambodia through its Global Strategic Business Development Team seeks to strengthen the Real Estate Investment Opportunities with Century 21 Taiwan. As the Cambodian market continues to grow both in demand, developers and investors are seeking to diversify their options and target options that offer lucrative long-term success. This week, Century 21 Cambodia, along with Local Franchise Office Century 21- Dream Property, is scheduled to travel to Taiwan to meet with their Franchise counterparts to discuss ways of networking clients from both countries to increase investment and sales through the Global Sales Structure Century 21 franchises has to offer, both in Cambodia as well as Taiwan.Taiwan’s interest in this region has been noted with purchases into projects such as Bali, Suncity Bassac, and others continue to extend its desire for investment returns that are not so easily presented in a traditional real estate investment market.As the real estate industry in Taiwan remains at a fixed level of real estate investment returns, the need to find new and better return on investment for clients has become a part of their office’s interest to reach out and find investments around Cambodia. According to China Post, offices in Taiwan continue to be set up in search Condominium investment growth in Cambodia.This trip for Century 21 Cambodia will be another one of several recent visits to neighboring countries. These visits add to this year’s goal of finding ways to create opportunities for Century 21 franchises to cater to clients buying or selling around Cambodia. With the rare opportunity of Phnom Penh growing at its current rate, Century 21 Cambodia seeks to support its franchise offices, by networking with Century 21 global offices and fill the need to find clients for these development units.

4 March 2016, Singapore – Knight Frank, the independent global property consultancy, today releases the Prime Asia Development Land Index for H2 2015. The index derives the price of prime residential (apartment or condominium) and commercial (office) development land in 13 major cities across Asia.Knight Frank Prime Asia Development Land Index shows prices of residential sites in the region appreciating 3.0% in H2 2015, up from the 1.2% seen in the previous six months. On the other hand, the price growth of office land slowed to 1.5% from 3.6%Report highlights:H2 2015 witnessed development land investment volumes in Asia rise by 14.1% year-on-year.Cross-border volumes increased by 55.3%, driven by intra-Asian investment flows.China bought almost two times more land in the rest of Asia.While the average price of a piece of development land has been climbing steadily since mid-2012, the average land size has been shrinking. In Indonesia, the government’s efforts to tackle tax evasion is discouraging big-ticket purchases.Mr Nicholas Holt, Head of Research for Asia Pacific, says, “The confluence of easing construction costs and rising residential prices and office rents propelled Phnom Penh’s prime land prices upwards. Although the growth rates in H2 2015 moderated slightly from the previous six months, they nonetheless were among the fastest in the region.“Tokyo’s prime residential land index recorded the fastest growth among the cities tracked in H2 2015 – it is also the only market that outperformed Phnom Penh. With Japan joining the negative interest rate club, there could be more yield compression and price appreciation.”Download the full report!

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by RealEstate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home. Missed Part 1 or Part 2?On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal, about where to buy development land in Phnom Penh. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 3: WHAT ARE BEST AREAS TO BUY DEVELOPMENT LAND IN PHNOM PENH?Realestate.com.kh: What districts are the best to buy in in Phnom Penh for developers?  Say if you got a new developer client seeking consultation, which areas would you recommend buying land in now for a new development project?In Sitha: I think right now Chamkarmon District is one of the four districts of Phnom Penh that I would consider as the good place to invest at the moment and into the future. I think that's where to buy development land in Phnom Penh. Realestate.com.kh: Land's expensive right?In Sitha: Yeah, the land is little bit expensive but it's still good to invest. As you see, Chamkarmon District is the place with the most expats, restaurants and the prime hotel area of approximately 1,073.72 hectares. In this district, I consider two communes, BKK1 and Tonle Bassac, to be best to invest in.Realestate.com.kh: Which ones?In Sitha: Number one is Boeung Keng Kang 1 and number two is Tonle Bassac. You see, they are in the central area, so the southeast of Independent monument, and this district has a lot of wealthy residents, NGO, corporates, etc. And the landscape is very nice, very beautiful and wide, leafy streets. Realestate.com.kh: Will developers who choose to build in BKK1 increase their chance of higher rental returns?In Sitha: That's correct.Realestate.com.kh: Because of all the expats and lots of money in this area?In Sitha: In Boeung Keng Kang 1 and Tonle Bassac, there are many rich people. One unit of a serviced apartment with two bedrooms can be priced from 800 US to over 1800. Yet, ultimately, it is based on the quality and the design of the construction.Realestate.com.kh: Much, much higher than the rest of the country?In Sitha: Yeah, it makes it a good investment opportunity if for a one bedroom unit you can get almost 1000 to 1500 in rental returns. These areas offer easy access to all sorts of entertainment and food venues, and also the government institutions, hospitals, international schools and universities. This is a centralized area. Market price increases yearly so this is a very good place to invest in these two sangkats/communes.Loving it? Then you should watch part 4 now:WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERS coming soon

The Cambodia Constructors Association (CCA) will host its 5th CCA Summit and Cambodia Construction Industry Expo on December, 1-3, 2015 at Diamond Island Exhibition and Convention Center where hundreds of local and international exhibiting companies and visitors will attend. CCA is now also a member of ASEAN Constructors Federation, China-ASEAN Building Materials Committee, and International Federation of Asian & Western Pacific Contractors ‘Association (IFAWPCA). This will bring huge benefits to the Cambodia Construction Summit & Expo 2016.Unlike previous time, this time at the Cambodia Construction Summit & Expo 2016 there will be many exhibitors from the three above international associations as well. Besides, we will have some excited events like CCA networking party with exhibitors at the second day of the event (evening) with free foods and drink where you and possibly your members can network with our potential CCA members and other exhibitors to match your business with them. Once there was 250 booths last year, we aims for 300 booths a this year's Cambodia Construction Summit & Expo 2016.CCA is a private-run constructors group that was established in 2012. Currently, we have over 100 member companies that are companies related to construction and property sectors. For more info about CCA, please kindly go to www.cca.org.kh

After receiving complaints from commuters regarding toll fees along Veng Sreng Road, the prime minister cancelled the road investment contract in late December 2015 and placed it under state management and abolished the collection of fees from commuters. “I am giving the Veng Sreng road back to the people to use free of charge as a New Year present. I am grateful to our citizens who brought this news on Facebook about their problems regarding the Veng Sreng road to my attention,” the Prime Minister Hun Sen said.Chinese firm BOTT WAYS invested in the Veng Sreng - Chom Chao road which runs for 6.5km and is 22 metres wide. Built with 20-cm concrete, the road is divided by 2.5-metre wide garden. When contract was cancelled, the road has almost been completed. The remaining works have subsequently been transferred to the capital department of public works and transport.   As with Veng Sreng Road, Prime Minister Samdech Hun Sen also decided to cease charges for commuters on National Road 4 from 13 January after receiving complaints from people via Facebook. The decision was made just a few days after he removed toll fees for people who own vehicles and reside along National Road 4 that have to pay daily. The 230-km National Road 4 has been operated and maintained by AZ Group under a 34-year concession since 2000. This main artery to the coast is currently being expanded from 2 lanes to 4 lanes with an unspecified completion date.   This article was submitted by: Tim Vutha, Construction and Property Magazine

Plans have been submitted for a super skyscraper to be built in Phnom Penh which would make it home to the tallest building in Southeast Asia (ASEAN) in 2019 should it be completed. The Thai Boon Roong Twin Tower Trade Center is being jointly developed by local firm Thai Boon Roong Co., Ltd and Chinese giant contractor Kia Nip Group. The development has been revised upwards from a proposal submitted to City Hall in June 2015 of 111 floors worth $3 billion to a new design of 133 floors worth over $1 billion.The capital’s Land Management Urban Planning and Construction department and the Phnom Penh municipality consecutively endorsed the revised master plan in mid-February. The plan has already been submitted to the Ministry of Land Management Urban Planning and Construction for a final study that is expected to take at least 45 working days before a final decision is released.  If final permission is granted, construction is planned to kick off later in 2016 with completion scheduled for 2019. The project is expected to become ASEAN’s Tallest TowerThe Thai Boon Roong Twin Tower Trade Center is to be situated on the five-hectare Dream Land plot in Tonle Bassac commune and will feature commercial office space, a cultural centre, hotel, retail and shopping centres and many more entertainment facilities.  If completed, the structure will be ASEAN’s Tallest Tower ahead of Malaysia’s Petronas Twin Towers (452 metres with 88 floors), Vietnam’s Keangnam Hanoi Landmark Tower (345 metres and 77 floors), Malaysia’s Menara Telekom Towers (310 metres and 55 floors) and the 304-metre Baiyoke Tower II in Thailand with 84 floors.  It will also be the 5th tallest high-rise in Asia as well as in the world following the UAE’s Burj Khalifa (828 meters), China’s Shanghai Tower (632 meters), Saudi Arabia’s Makkah Royal Clock Tower Hotel (601 meters) and Taiwan’s Taipei 101 (509 meters). However, if the 555-metre Diamond Tower proposed by Overseas Cambodian Investment Corporation (OCIC) in 2010 is successfully built on Diamond Island, the tower will rank only second in Phnom Penh.  While such high-rises are usually welcomed by the public, building safety systems - especially related to fire prevention - are usually the main concerns due to the fact that the Cambodian authorities still have limited capacity and legal regulation in dealing with safety issues on tall buildings, let alone super-skyscrapers. Prof. Tous Saphouen, Secretary General of Board of Architects Cambodia and also the Dean of Pannasastra University of Cambodia’s Architecture Faculty was involved in the architectural design of this project. He told local media that the development was the result of a very detail architectural study done by experienced Cambodian and Chinese architects. According to Prof. Tous, giant Chinese constructor and main contractor Kia Nip Group has developed many high structures especially in China. Since it is the first super-tall building in Cambodia, the developer it is not sure whether local firms can be sub-contracted to parts of the building works. According to data from the Ministry of Land Management Urban Planning and Construction, 628 buildings ranging between 5 and 40+ floors have been erected in Cambodia so far. Among them, 407 buildings are between 5 and 9 floors, 187 buildings are between 10 and 19 floors, and 22 are between 20 and 29 floors. Only four towers surpass 40 floors. Phnom Penh Governor Pa Socheatevong has indicated that Phnom Penh will attract more high-rises in the next few years, especially in the area surrounding Diamond Island, and in Chamkar Morn and Daun Pinh districts. Despite general industry enthusiasm for the project, questions continue to be raised about not only the viability of the project for the Cambodian market but also about whether due diligence will be followed in the approval, investment and construction of the project. This article was submitted by: Tim Vutha, Construction and Property Magazine

2018 will see Ta Khmao city transformed into a real estate development hub thanks to the construction of the first large-scale residential and commercial development project called Center City Ta Khmao.SEE THE FULL LISTINGLocated just south of Phnom Penh along the Tonle Bassac riverfront, the Center City Ta Khmao complex is to be built on a 15,463 square metre plot with 10,668 square metres of beautiful landscaped surroundings and will feature a range of luxury freehold-based property units. Two 27-storey condominium towers totalling 484 units will be surrounded by 60 commercial shophouses, 8 commercial buildings, a 2-storey shopping mall, and 3-storey car park. One floor of the building will be dedicated to leisure amenities including a health and fitness centre, swimming pools, jogging paths and a children’s playground.The complex is being developed by Tang Kung Group under the brand The River Premium Developments via a joint venture between local conglomerate Tang Kung Group and a Malaysian investor also owner of Australia-based Riverside Group. Tang Kung Group has almost 20 years of experience in the real estate industry. Thanks to the extensive background of the developer, The River Premium Developments prides itself on premium quality mixed-use developments, incorporating residential, commercial and leisure amenities. To ensure premium quality, it integrates modern design and architecture into all of its prime location projects to cater to the Cambodian market. First-class quality is key to the culture and commitment of the company and is guaranteed by using only branded construction materials to maintain international standards. “Situated in the heart of Ta Khmao overlooking the grand Tonle Bassac, Center City Ta Khmao will be the finest in world-class living,” said Okhna Tang Kung, Chairman/CEO of The River. He added that Center City differentiates itself from other developments by being located, “In a tranquil and picturesque setting in front of the majestic Tonle Bassac and offering unparalleled convenience. It offers customers the choice of owning spacious shophouses perfect for any business, thanks to its proximity to premium condominium units and a luxurious shopping mall that offers world-class amenities within the same complex.” The target market for the developer is both local and foreign high-end buyers. According to Okhna Tang Kung, his firm has a different strategic view on the future property hub, saying that Ta Khmao will be the next landmark in the kingdom.SEE THE FULL LISTING“As predicted by Cambodia’s most-celebrated architect and urban planner, H.E. Vann Molyvann, Phnom Penh city will continue to grow toward Ta Khmao as this area is highly flood resistant, and will remain so for the future. The developer behind Center City Ta Khmao thus views Ta Khmao as the most sustainable region for residential development, with H.E. Vann Molyvann’s expert understanding in mind,” he stressed. Construction on the development kicked off last year and will ensue in 3 phases. Phase 1 will be the shophouses and is now in the pre-selling stage. Unit prices for the mall and all condominium units are expected to be revealed during phase 2 and 3 in the coming months.

China is now the second largest economy in the world, after Japan, and continues to grow steadily at about 10 percent per year. Thus, all eyes are frequently on China these days. What they do now has global implications. If they rise, we all rise. If they fall, they take a lot of people down with them.Although China is not just a major player in the region -- it is a major player in the world -- as is always the case, proximity matters. What China chooses to do has a particularly strong impact on countries near to hand. Cambodia is one of the countries near to hand that is particularly strongly impacted by any ripples in the Chinese economy.Many countries in Southeast Asia have been struggling with internal market uncertainties. In contrast, China's continued generally strong economic growth has fueled a trend in increased international investment. In 2015, China doubled their international investment compared to the year before. In aggregate, it totaled just under US$30 billion.Naturally, there are a number of factors impacting the investment decisions of Chinese investors. The recent instability of the Chinese stock market is one important factor driving Chinese investors to diversify their portfolio by looking outside of the country for capital safe havens and opportunities.Additionally, their ongoing devaluation of their currency is being done to intentionally give them trade benefits. This is also driving investors to from within China to move money outside of China, exactly as it is intended to do. The explicit policy objective of their ongoing currency manipulation is to enhance their ability to export goods and services. This may be why predictions suggesting they would retrench their outbound capital failed to be realized. Instead, their overseas investments in real estate continued a strong upward trend throughout 2015. Although the lion's share of this outbound capital continues to be invested in big markets, such as US commercial real estate, the UK and Australia, a certain market segment is gradually turning more attention towards regional centers closer to China's own backyard, such as the ASEAN nations. These areas are beginning to have a bit more appeal for small- to mid-cap investors who desire higher yields. The traditional centers of Chinese investment interest -- places like London and major cities in the United States -- are in no danger of being ignored. In spite of the high cost of entry into markets in well developed countries, they have a long track record of being solid investment opportunities. Thus, they are worth are worth it. But the "Belt and Road" policy is beginning to encourage more Chinese institutional investors to look at opportunities much closer to home. The main places expected to benefit from this trend include India, Hong Kong and all ASEAN countries. Since Cambodia is an ASEAN country, it is included in this list. There is also reason to believe that Japan will continue to draw substantial investment interest from China. Thanks to the aforementioned policy changes and the ongoing RMB devaluation within China, the odds look good that China will continue to invest heavily overseas. While the bulk of that money will certainly go to traditional gateway markets, regional hubs in Southeast Asia are likely to start seeing more than just a splash or two from the fire hose of Chinese outbound capital. Even if their forward momentum slows down, as some people are predicting, the fact that they have one of the largest populations in the world, a huge mass of land, and have established and sustained consistent economic growth for some years now strongly suggests that they will continue to be a force majeure on the global economic scene. The policy changes and trends in motion make it highly likely that the drips and drops of regional investment we have already seen will grow to a steadier stream. We are looking forward to helping Cambodia tap into that stream. Given the drama that occurred when China's stock market took a noticeable dip recently, some people are understandably concerned about the near and mid term outlook for Chinese outbound capital and its impact on international markets. As is often the case in stock markets, the dip -- down 6 per cent in the Shanghai Composite index, and down more than 7 per cent in the Shenzhen Composite -- caused panic selling, thus deepening the problem. Predictably, some folks fear that the impact on Cambodia's real estate may be negative, not positive. One cause for this concern is that, because Cambodia is a Least Developed Country, it benefits enormously from its ability to export to some of the more developed countries, such as the US. Additionally, the Cambodian riel is pegged to the US dollar. These facts make the country especially sensitive to international economic drama involving the US. Understandably, people held their breath when the Chinese stock market dip caused fallout in the American markets. Fortunately, the situation was short lived and did not turn into a long term slide. The US and other important markets quickly rallied. This is in spite of the fact that China's RMB devaluation is an ongoing policy specifically intended to manipulate the American market for China's benefit. In spite of how China's population dwarfs that of the US, the American markets are surprisingly robust -- or, perhaps, not so surprisingly since the US is one of the more developed countries in the world. In spite of a 40 percent drop in the Shanghai exchange and predictions that this may have a long term negative impact on Cambodian real estate, there was no serious distress in the short term. Nonetheless, Chinese investment plays an important role in infrastructure development, agriculture, hydropower, and industry for Cambodia. Chinese investors are a major force in some areas of industrial development in Sihanoukville, one of the three most important cities in the Cambodian market, if only because it has the only deep sea port in the country. Because global events hit Cambodia hard in 2008, this most recent incident was met with a proactive government response. They promptly set out to run the necessary analyses and put protections in place to avoid another serious recession. The country's capital, Phnom Penh, is the single most important city in Cambodia. A high percentage of its new residential development is being snapped up by foreign buyers. Prices have been heating up, causing talk of a possible bubble in this market. We believe this to be unlikely because Cambodia lacks the essential ingredients for creating such a situation. Among other things, bubbles require excessively high rates of leverage. The conservative banking system in Cambodia has been a strong safeguard against that situation developing. Thus, Cambodia simply does not have that particular problem and it is unlikely to develop a bubble, only to see it burst catastrophically. The rate at which China is moving manufacturing out to other parts of Southeast Asia is astonishing. This region may well displace China as the seat of global manufacturing. The trope "Made in China" may be replaced by "Made in Southeast Asia." Of course, China's economic slowdown has been felt in the region. This may have a silver lining in the form of taking some of the wind out of the sales of speculative buying in Phnom Penh. Prices might come down a bit to more reasonable, sustainable levels. Some people would not be happy, but it might be best for the market overall. China is an economic giant locally and globally. With Cambodia resting midway between it and India, we are bound to be hit by any turbulence from either one, yet also buffered to some degree by the existence of the other. Adding more stability is Cambodia's membership in ASEAN and links to other markets, such as Australia. Nothing can completely shield Cambodia from the ups and downs of China's economy, but the recent drama proved to be more disconcerting than actually dislocating. Whether it is a bull market or a bear market, there are always some winners and some losers. As long as things keep humming along in the right direction overall, Cambodia should fair okay. The fundamentals here are pretty solid and many people are working hard to keep things going along in the right direction. We are cautiously optimistic about the foreseeable future.Want to learn more about investing in Cambodia?

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by RealEstate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 2: THE PROCESS TO START ANY DEVELOPMENT PROJECT IN CAMBODIA, FOR DEVELOPERS Missed part 1? View it here!Realestate.com.kh: For developers, when you meet the developer that's considering launching a project in Cambodia, can you briefly explain the process for starting a new development project in Cambodia? What do they need to do?In Sitha: Thank you, this is a good question as well. Most developers have to understand a few things when they decide to enter the Cambodian market. To start a new development project in Cambodia, number one, the developer must get the business license from the Ministry of CommerceRealestate.com.kh: Number one, business license. This takes how long?In Sitha: I'd say a few weeks, usually from one week to two weeks. Now everything's online so the developer can go to the website of the Ministry of Commerce and apply to get the business license.Realestate.com.kh: This process is much faster now?In Sitha: Yes, it is faster now. This is a new system for the Cambodian government so everything's online now.  Second, the developer needs to get permission from the General Department of Taxation. They have to apply to get VAT number and tax patent. You can also apply for tax patent online. The developers then apply to get the construction license from the Ministry of Land Management Urban Planning and Construction.Realestate.com.kh: The construction license, that's general - or you take a different license for different type of projects?In Sitha: Actually, it will be specific in regards to the size and type of the development. And we have specific periods. Realestate.com.kh: And if they don't complete the comstruction in a certain time?In Sitha: They can extend. At the same time the developers are applying to get the construction license, they need permission for their project from the Ministry of Economy and Finance as well. The same registration applies for a developer as applies to a real estate agency. In the real estate business, first we have to apply to get the business license from the Ministry of Commerce and then get the Tax Patent. Then we have to apply to get our license and certificate from the Ministry of Economy and Finance for the specific professional field as a developer, agent and property manager in some cases. The developer is no different, and needs to get licensed for any type of business it undertakes.Realestate.com.kh: So the developer, they need to apply for a license to sell their property also? They need to apply for a real estate license?In Sitha: Yes they do.Number five in the process is that  the developers have to prepare the master plan for the development project, and submit this to the Ministry of Land Management Urban Planning and Construction and wait for the approval. After the approval, the Ministry of Land Management provide construction permission. Developers then can start the development project at the site that they propose. Realestate.com.kh: Roughly how long does it take to receive these permissions to begin? How fast could they do that?In Sitha: It takes a few months. It depends on how busy the government is. Some Months they are busy, like for the official meetings or something, so it takes a longer. Broadly, it's between one month and three months start to finish.Realestate.com.kh: When they submit the project plan to the government, how specific, how detailed does the plan need to be at this stage?In Sitha: They should include the floor plans as part of the master plan, in order for a professional architect from the land management ministry to check. Which means that before construction starts, developers have to prepare the master plan, the complete of construction prediction, and submit all information to the Ministry of Land Management.  The Ministry of Land Management will then check and verify whether it shall proceed.Realestate.com.kh: You must have a registered construction company in this plan?In Sitha: Yeah, yeah. It shall be under one company who can also be registered for construction, or in partnership with a separate registered construction company. Number six, in the process for a developer to start in Cambodia, the marketing and selling strategy is also important. How to do the marketing and how to sell your type of development in Cambodia. Many developer don’t pay enough attention to this. It's all about the marketing. I say developers need to do the market research and see whether the project could be a healthy seller in this market. And don’t wait until after the construction to do this! Can customers buy or not? And research the right price or something like that. The developer needs to understand the market price, and likely changes, which means the price that could be affordable to the customer compared to the neighboring development projects. My company, VTrust Appraisal, are specialists in research and market study. We are an independent organization that can bring a lot of useful knowledge to those considering development projects.

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by RealEstate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.On this week’s show, we’re going to be speaking with Mr. In Sitha, Director of Business Development at VTrust Appraisal. Sitha has over 20 years experience in the real estate business in Cambodia and he now specializes in property development consultancy and real estate business development. He's also a renowned real estate teacher in real estate law and real estate practice. In this 6 Part series, we're going to get some tips for property developers and real estate businesses seeking to gain an edge when entering the Cambodian real estate market.PART 1: WHY PROPERTY DEVELOPERS AND INVESTORS ARE INCREASINGLY LOOKING TO CAMBODIARealestate.com.kh: Mr. Sitha, I understand you have a lot of experience in advising property developers in Cambodia. What do you believe is driving the current high levels of property develop in the country now, in Phnom Penh in particular? Why do people want to invest in Cambodia?In Sitha: Well, thank you for your excellent question. In Cambodia now, the business opportunity is good compared to the late 90s. You see when the country and the world had the economic crisis. After 2009, the market is better and better. More foreign investors are looking to this market. Most from China, Hong Kong, Malaysia, Japan, America and local developers. All these people are looking to invest in Cambodia.Come to the questions. What drives the property development in the country currently? I think the investors themselves firstly have to have unlimited/sufficient investment capital for the investments in Cambodia, meaning they can’t enter without foresight. Number two, the investment projects licensing fees must be taken into consideration. Number three, investors must choose the right locations given their target market and budget, so location is also the most important to set up the development project. I think the central city is the best location at present, and also in the peninsula areas, or the other side of the river, if you're talking by areas.Realestate.com.kh: Why's that?In Sitha: Actually in Chroy Changvar the environment is good. The heart of the land between the Rivers is very beautiful, ideal to build a hotel or condo development. Realestate.com.kh: The infrastructure's really improving that side of the river now?

Cambodia is in a fairly unique position that many potential investors find compelling.The combination of a stable government and banking industry, pro business and pro foreign investment policies, and tremendous growth potential is relatively rare. Financial and governmental stability are typically associated with more mature markets that have greater barriers to entry combined with less growth potential. Less developed countries with good growth potential are not usually so actively welcoming of investment and are typically more politically and financially unstable.This unusual combination of pro growth and development factors has already yielded substantial development and progress in Cambodia, yet there remains more money to be made. This is a country and a populace eager for growth and doing a great many things right. It is an exciting time for both local nationals looking forward to a brighter future and for potential foreign investors looking for an investment frontier. Cambodia is deemed by many to be a last frontier in this part of the world. It is brimming with raw natural resources and raw undeveloped talent. When foreign investors bring capital and first world know how to the table, magical things can happen, benefitting all involved parties.In recent decades, Cambodia has seen incredibly forward progress, from an underdeveloped nation to a substantially more urbanized country. Pro-business government policies have helped attract foreign investment to the many different market sectors, including:Offices and Commercial DevelopmentRetail DevelopmentIndustrial DevelopmentResidential Real EstateAgricultural DevelopmentIt is also literally well positioned due to its physical proximity to some of the most vibrant markets on the planet. This fact is being capitalized upon and enhanced via regional trade agreements that strengthen Cambodia's ties to multiple large, developed markets. Cambodia has a young, energetic work force and a rich and intriguing cultural heritage. Both of these treasures are nestled amidst a landscape filled with natural beauty that draws tourism and natural resources that are an excellent basis for both industrial and agricultural development.It is a world filled with opportunity for any investors who are willing to do their due diligence and bring first world savvy and capital with them to the bargaining table. It is still a corner of the world being overlooked by many people. This oversight is one they may live to regret. Although there is always an element of risk in any kind of investment, the fundamentals here are incredibly strong. Thus, well planned, well managed foreign development projects have excellent prospects. This is a place where dreams can not only become reality, they can shape the future.What would you like to build? Aquaculture? An organic farm? A world class hotel? Consider the possibilities and consider building your future and your portfolio here in this exciting market.Reasons To Invest In Cambodian PropertyPractically virgin investment territory with enormous growth potentialA recent track record of dramatic improvementsThe government is pro-business, fostering a favorable climate for investmentThe country is enjoying strong, sustained growth in Gross Domestic Product.Location, Location, LocationSandwiched between two stronger economies (Thailand and Vietnam)Midway between the world's largest, fastest growing economies (China and India)Sitting between Australia and Asia, with trade agreements connecting it to bothPolitical stabilityThe country has had the same Prime Minster for more than a quarter of a centuryThe Prime Minister is the longest serving non-royal leader in South East AsiaThere is a young workforce hereAffordable labor for investorsA workforce in the prime of their life, with many good years ahead of themLocal improvements translate to savings in training needs for foreign countriesThe country is actively improving its position on trade integrationJoined the WTO in 2004Joined ASEAN for increased access to local marketsLDC status gives access to highly developed marketsActively ramping up transport connectivityThe country has been actively upgrading road and bridge connections to all neighboring countries.The railroad system is being actively improvedThe sea port in Sihanoukville has been expanded and modernizedThe river port in Phnom Penh has been drastically improvedThe country has opened three international airportsLow cost utilitiesThe mobile and internet sectors have seen dramatic cuts in costNew and more efficient power plants are replacing old ones, cutting energy costsVast natural resourcesAbundant fertile land with adequate water supplyUntapped mineral deposits and oil and gas reservesNatural beauty available for the tourist industryUnder-penetrated market with vast growth potentialVery young population which promises growing domestic demand for years to comePer capita purchasing power has more than doubled and is still risingOverall low debtLow levels of debt at all levels (governmental, corporate and personal)Conservative and solvent banking systemZero history of government bailouts and subsidies, practically unheard of in this day and ageLearn more about investing in Cambodia on Realestate.com.kh!

Jum reap sour! And welcome to another weekly Real Estate News Report brought to you by Realestate.com.kh. The leader in real estate news in the Kingdom and the best place to find your new home.Welcome to the Realestate.com.kh Property Review series. On this week’s show, we’re live at Axis Residences showroom in Phnom Penh. We are here with Mr. Anthony Ong, Director of the Axis Residences project. See the full listing and inquire today!Tell me about the AXIS location:Anthony Ong: Axis Residences is situated 5 minutes from the recently expanded Phnom Penh International Airport and in the same vicinity of Northbridge International School (among other international schools), the best medical hospitals (Royal Phnom Penh) in Phnom Penh, the upcoming mega shopping complexes (Lion City & Okide The Grand) and around 6km from both the current city center and the much talked about PPSEZ (Special Economic Zone).  This condominium shall be a landmark of contemporary lifestyle and quality in the exciting and upcoming western district.Who is this development for? What sort of buyers?Anthony Ong: For locals & expats who want to live near where they work. Mainly, factories owners and managers located at Veng Sreng Boulevard and the Phnom Penh Special Economic Zone. Locals who want to enjoy quality and contemporary living and cannot afford the high prices in the city center. Investors who understand how all developing countries progress and potential of growth near the airport.Talk me through the main features; why should a new home buyer consider this development?Anthony Ong: Axis Residences features Eight (10-storey) blocks comprising 566 freehold residential units and >566 carpark lots – the only condominium in Cambodia that features a car park lot for every single unit.AXIS will be set amid lush greenery and fitted with full condo amenities – truly Singapore Garden City Style. All units are either North or South facing without direct sunlight and facing the pool of golden reflection as the sun rises and set.  AXIS is also the first Cambodia development with full condo Facilities including a 50-meter swimming pool, a children’s play pool, playgrounds, indoor and outdoor gymnasiums, tennis courts, basketball court, function rooms, BBQ pits, commercial units and a grand drop-off porch among others.  AXIS is conceptualised, designed and managed by SPRING CJW Development Pte Ltd and the team of Singapore Consultants; project managed and construction managed by SANWAH Project Management Pte Ltd (SANWAH) - design from AGA Architects Pte Ltd (architect), ICON LLP (M&E Engineer) & KCL Consultants Pte Ltd (Structural Engineer).

The Gateway has officially launched sales in Cambodia with a spectacular VIP opening ceremony.The official launch festivities took place last Sunday, the 28th February at The Gateway showroom on Russian Boulevard, which is located beside the actual site of the project now beginning phase 1 of construction. The launch event last Sunday was attended by the most prominent political and business figures from across Phnom Penh and over 500 guests were present.The event was presided over by His Excellency Dr. Hun Manet (Lieutenant General of the Royal Cambodian Armed Forces), His Excellency Dr. Pen Sophal (Secretary of State of the Ministry of Land Management, Urban Planning and Construction), Mr Oliver Ching (First Secretary (Political), Embassy of the Republic of Singapore – Cambodia) and attended by Neak Ohkna Kith Meng (Chairman of Cambodia Chamber of Commerce), among many other prestigious guests.The ceremony commenced from 7.30am and from 12 noon onwards, the showroom was officially opened to the public.The Gateway showroom is open everyday from 9.00am to 6.00pm.All shareholders of The Gateway project would like to extend their sincere thanks to all VIP guests and guests from the general public who came and joined the official launch festivities last week.Also, congratulations to all those early-bird buyers who have already secured their best choice units in this prestigious new development.The launch of ‘The Gateway’ project is an iconic step forward for the Cambodian real estate community, and represents the first mega-project of TA Corporation in Cambodia’s capital city of Phnom Penh. This project represents a significant milestone in the company’s history, and will be the start of a much larger commitment from TA Corporation to the development of the Cambodian property market into the future.Learn more about this iconic project: Check out the full listing.

This past January, American-based consultancy firm Franchise Direct, which monitors the growth and success of franchises globally, released their top 100 rankings for 2016. International real estate conglomerate Century 21 was listed at number 20, outpacing by a wide margin other real estate giants like Re/Max, Coldwell Banker Residential, and Engel &Völkers, which ranked respectively at 45, 60 and 89.Grace Rachny Fong, Learning Director at Century 21 Cambodia, said the American-based franchise first came to the Kingdom in 2014 with the business model of establishing 21 affiliates. While the company’s expansion is still growing, she said “as of now, Century 21 Cambodia has 12 affiliate offices in Cambodia, and they are all doing business well and efficiently.” She continued that the number of local real estate companies that have signed up for franchise rights is higher than 12, and those who are in the process of taking on the Century 21 logo will kick off operations soon. “According to our plan, 2016 will be the year that the brand strengthens business efficiency with all of our branches, and in doing so we are planning to conduct many training seminars this year,” she said. Meanwhile, Century 21 Cambodia has been able to bring international affiliates into the local property business. Most recently, Japan-based Century 21 Fuji Housing, which has successfully operated in Japan for 22 years, will provide technical support to their Cambodian partners. “Fuji Housing will join as a personal advisor for Century 21 Cambodia, and they will take part in designing training seminars for all of our branches in Cambodia,” she said. After explaining about the new experiences that her team will acquire from their Japanese counterpart, Fong expressed optimism in 2016’s growth. “This year, we will gain new experience and operating procedures from our neighboring partner. We can’t overlook those excellent tips. At the same time we will combine