The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) took place April 1st at the Phnom Penh Hotel, 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 all the action with the speakers of REMOC2016 to get their 2 cents on the state of the current and future Cambodian property market prospects.Here is what Sorn Seap, ceo of Key Real Estate had to say...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 land market, going in-depth into market prices, zoning and development trends in the future. Phnom Penh land market prices continue to rise up by 10 to 20 percent a year. Nevertheless, the whole Phnom Penh land market 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.

Want to start living in Phnom Penh? You should. Over 80,000 expats have already moved to the Kingdom and life is good! The ULTIMATE Expat Guide to Phnom Penh covers all things you need to know before moving to the kingdom of wonder, thanks to Realestate.com.kh, Cambodia's home of real estate. Real Expat Reviews:Firstly, let’s see what some expats currently living here in Phnom Penh have to say:Daniel Santantoniou, an Insurance Broker originally from Geneva, Switzerland, who has lived in Cambodia for 20 months, says that “the best thing about living in Cambodia is the cost of living, business opportunities, overall growth in all sectors, proximity to the beach and the influence of Buddhist culture.” Daniel lives in a one bedroom apartment, local Khmer style, with a view of Royal Palace and the National Museum. This costs just 430$/month, including water and cleaning once a week, which Daniel says is “good value for money given the location and view. However, we found serviced apartments way overpriced in Phnom Penh compared to Bangkok.”Alexander Evengroen, a Netherland’s native and a business developer, real estate professional and motivational speaker by trade, has lived and worked all over the world, including China, Singapore, Thailand, Ghana, Malawi, and now Cambodia... “I have stayed in beautiful Cambodia for around 5 years. The best thing about living here is my beautiful Cambodian wife,” says Alex. In terms of advice for new expat residences, Alex says that, “someone moving to Phnom Penh soon needs to be open-minded and go further than the tourist attractions. Dare to explore more provinces and meet the fantastic people of Cambodia. The amazing food, the culture and so much more. Meet other expats to share experiences and join events to learn from each other - but don’t only hang around them! See and feel the beauty of this great country.” Alex lives in a beautiful spacious 5 bedroom, 5 bathroom villa home with “all the needs and facilities you can dream of - Seldom do we get power cuts, and fully air-conditioned - in the Attwood area of Phnom Penh.”Filipino native Carmela Torres, a real estate marketer by day, band vocalist by night, has resided in Phnom Penh for 1 year and 3 months. She says, “The best thing about living in Cambodia is the affordable yet high quality of life (cheap cost of living). Also, the unique freedom to start a business and not get killed with taxes.” “My advice for an expat moving here,” says Carmela, “would be shop around to find the best deals on property and to always try to barter the price. Do not be overly anxious about safety and security when moving in Phnom Penh, and when it comes to healthcare I think the medical care facilities here have greatly improved, and many ailments can now be treated in Phnom Penh by foreign doctors and foreign-trained Cambodian doctors. Dental care is also professional and affordable. But have medical insurance in your home country in case of the worst! Finally, beware the heat!” Carmela lives in a stand alone apartment in the BKK1 area, which she says is “definitely good value for money: Centrally located, easy access and very close to everything.”Hayley Flack, a student instructor from London, has lived in Cambodia almost fourteen years. Hayley comments that, “I enjoy my job and the easy going lifestyle of Phnom Penh. On weekends, the hardest thing is deciding where to eat - as there are so many great restaurants, and which gigs to go to. We are generally spoilt for choice. A piece of advice I would give is to stay calm and do not lose your temper. A smile will go a long way even when you get frustrated, which will happen.” In regards to where you should live, Hayley explains that, “I have lived in the same apartment for nearly ten years. The rent is very good and the landlord is very hands off, apart from when we need help. We live behind the University of Fine Arts. It is very good value for money. However, one thing I will say is the apartment next door and many others in our area lie empty. Why? Because the rent is more than double than ours. I don't understand why the landlords keep the rent high and therefore the apartments empty. I have had friends look at them and try to haggle the price, but they won't budge.”Adolfo Perez-Gascon, a Spaniard who has lived in Cambodia for 2 years already working as a journalist, thinks that, “the best thing about living in Phnom Penh is the fact that you have access to a big and vibrant community of expats, while also having the opportunity to interact with a very friendly and open local population. Living in Phnom Penh, you'll find that you have access to almost all western commodities and activities that you enjoy back home, but you are still in a foreign and exciting country; a country that you'll feel compel to explore and learn more about. In this regard, Phnom Penh strikes an almost perfect balance.” Adolfo notes that, “a lot of people move to Phnom Penh without a plan; they don't really know what they want to do here, and, of course, do not have a job waiting for them. They are lured to the country by lax visa requirements and the prospects of an easy life. My advice to any person planning the move to Cambodia is to come here with a job. Do your research, find an employer that you'll like to work for, and don't board that plane until you are sure of what you are going to be doing. Having a concrete plan of action will help you enjoy your experience in the Kingdom a lot more. Starting work right away will help you integrate into the community. I shared an apartment (with 2 other people) on the second floor of a traditional Khmer building located in the vicinity of the Genocide Museum. Rent is extremely cheap (we pay 400$/month for the whole apartment). Compared to my home country, this is an amazing deal. Put bluntly, you'll never find such cheap accommodation in Spain. The apartment is nice, spacious and comfortable. We have all the amenities that you'd expect of a modern house, including wifi and aircon.”A Little History That Ex-Pats Should Know:Cambodia has a rich history going back at least five thousand years. However, it was an experiencing a Dark Age from the 1400s until 1863. This Dark Age ended when the French came in and established a protectorate. Over time, this situation changed and Cambodia became a French colony. In the early 1940s, events that occurred during World War II weakened the French Colonial Empire. In 1953, Cambodia established itself again as an independent kingdom. Thus, from the 1940s through the 1960s, development in Cambodia was comparable to what was occurring in Vietnam and Thailand at the time. Unfortunately, the war in neighboring Vietnam negatively impacted Cambodia, resulting in sections of Cambodia being bombed by various parties, including the USA. This helped bring a group to power known as the Khmer Rouge. Most likely, you have heard the term "Khmer Rouge" and are aware that it has negative associations. They came to power in Cambodia in the 1970s, and, during their relatively short reign of terror, killed approximately a third of the country's population. These events affected everyone in the nation and still do. But this era was particularly hard on educated professionals, such as doctors, lawyers, and teachers. They were targeted first. Although these events are history, they are not yet resolved. The country is still struggling to heal its wounds from these events. The trials of the Khmer Rouge leaders for their atrocities started relatively recently and are still ongoing in The Extraordinary Chambers in the Courts of Cambodia (ECCC) located outside Phnom Penh. Additionally, the country developed the Tuol Sleng Genocide Museum and Choeung Ek Killing Fields in Phnom Penh. These are tourist sites aimed at educating the world, as well as a form of national therapy, helping the country to come to terms with these recent events.History and The Ex-Pat Community:Modern Cambodia was established in 1993. Thus, it is a relatively young nation, yet it has a long and rich history. The recent events detailed above have some of the following impacts on the ex-pat community today: 1) The tremendous recent loss of so many educated people is the primary reason that Cambodia has such a thriving ex-pat community. The country needs far more educated, skilled professionals to fill vital roles than it can supply internally. So, if you are an ex-pat living in Cambodia, you have been welcomed here to help with the recovery process that the country is still undergoing. 2) If you want to fit in and be comfortable in your interactions, it helps to understand the culture a bit. One of the take-aways from this short history lesson is that there is a significant French influence in Cambodia due to the years that it was a French colony. Another is that Cambodia is right now undergoing a process not unlike The Nuremburg Trials from some years ago, when European leaders were similarly tried for war crimes from World War II. 3) The country still has a lot of landmines and other visible scars from being embroiled in conflict for decades. It is wise to be mindful of potential danger in some parts of the country when you travel.Phnom Penh for Expats:As the capital and the largest city in the nation, Phnom Penh is a locus of the ex-pat community. Not only are there a lot of jobs here that are well-suited to attracting ex-pats, it has development more comparable to that of many western nations. This gives ex-pats the chance to find their comfort zone, anywhere from largely recreating a life similar to what they had in their country of origin to living much like a local for an especially broadening personal experience. The ongoing influx of foreign investment and foreign workers living here has brought with it western style businesses and amenities, plus international school amenities geared to the needs of ex-pat families. As with any big city, more development tends to lead to higher prices. However, going local can give you an exotic experience on the cheap, if you so desire it. Western style luxury apartments with all the amenities, and also serviced apartments -- such as a pool, gym and security -- can be had for $500-$3000 per month. Check out properties available NOW! Alternately, more authentically Cambodian digs can be rented for less than $300 per month. If your comfort zone involves organic, upscale food stores, you can find that for prices comparable to what you would pay at home. Or you can shop the local outdoor vendors (similar to western Farmer's Markets) for substantially less, often about half price. A western style coffee from a foreign chain can be had for around $3, while a cup of coffee from a local stall is typically well under $1. In fact, the first Cambodian Starbuck's recently opened in the Phnom Penh International Airport. If you just must have a taste of home, it can be found there at typical Starbuck's prices. There is plenty to do and see within the capital, including fine dining, live music, movies and other entertainment venues. But, living in Phnom Penh also gives you easy access to the recently expanded international airport and bus services, making regional travel very do-able for the more adventure-minded types. All of this means that an ex-pat living in Phnom Penh can live what would be a very upper class lifestyle in most large western cities, but on a relatively modest income. A housekeeper can be hired for about $5 per visit, making it affordable to have one come once or twice per week. A mid-price restaurant meal for two is approximately $15-20, about the same as or not much more than you would pay for fast food in many western cities. Plus, simply being here means that when you take a day trip or a weekend jaunt, it is invariably to see things that many westerners would only dream of visiting if they were incredibly rich.The Ex-Pat Work Scene:Most ex-pats in Phnom Penh live on anywhere from $12,000 to $60,000 per year. They are employed in NGOs, the hospitality and tourism sector, education, tech and business. Some are hired to come here. Others choose to simply show up and look for work. Simply showing up is not as crazy as it might sound. Cambodian visas have some of the most lax rules in the entire world, and being here allows one to find jobs via word of mouth that won't ever be advertised online. You can also check newspaper listings if you are here. Some people start by looking at online job listings. The two most popular Cambodian job sites are Bong Thom Dot Com and HRinc.How to Get a Visa:There is a low bar to entry here. Many people get a standard E-class visa by simply showing up. Airports and border check points both allow you to get one by filling out very nominal paperwork and paying a few extra dollars above what a tourist visa costs. For about $300, you can extend it to a year. However, in 2014, Cambodia passed a new law that requires foreign workers to have a government issued work book. This is really a responsibility of the employer, not the employee, and, so far, enforcement has not been stringent.Currency:It may surprise you to learn that US Dollars and Cambodian Riel are the predominant currencies here. In fact, most ATMs dispense US Dollars only (unless otherwise noted). With the exchange rate in the neighborhood of 4000 Riel to $1, it is typical for transactions to be made primarily in dollars, with "change" given in the form of Riel instead of US coins.Popular Ex-Pat Neighborhoods:A popular area for ex-pats is Boeung Keng Kang 1, 2 or 3. Don't worry! Everyone just abbreviates this as BKK 1, 2 or 3. The Russian Market and the Riverside area also have many ex-pats. BKK 1 and 2 are more upscale, with more amenities geared specifically towards foreigners. BKK 3 and the Russian Market both offer an attractive mix of western and local shops. The Riverside area is popular with tourists and has a number of bars and nightclubs. It is, perhaps, less family friendly than the other neighborhoods, but a good place to go if you love the nightlife. More recently, Tuol Kork is a neighborhood about 30 minutes out that is increasingly attracting ex-pats. As with other large cities, commuting to a suburb outside the densely developed downtown area is a good way to find places renting for much less money. Housing:In addition to the aforementioned luxury apartments and local style rentals, Phnom Penh also has French colonial architecture and western style homes tucked away on tree-lined streets. Single ex-pats who choose to share an apartment can find accommodations for as little as $150 per month. Those who choose to live on their own may pay up to $500 for an apartment, depending upon its size, location and amenities. Couples or families are typically looking at costs between $250 and $1000.Should I opt for a long or short term lease in Cambodia? Here are some pros and cons. If you go through a real estate agency to help you find a place, it shouldn't cost you anything as they are typically getting paid by the landlords. They can help you understand what is available and what is in the lease. Just like you would in other countries, it is not uncommon to sign a lease for a set period of time, pay a security deposit and your first month's rent prior to moving in.Here’s how to choose the right Cambodian real estate agent for you!Utilities:Although some landlords cover utilities for you, such as cable, water and trash, they typically charge you for electricity. The typical rate is around $0.25 USD/kilowatt. Read your contract before you sign. Some landlords may try to pad that. Make sure you understand your contract before you sign!English is Common:As with many countries, a lot of the locals speak English. This makes it easier to shop, dine and make friends than you might expect. Many shops and restaurants can assist you in English, even with local goods.Petty Crime:If you look like a well-heeled foreigner, you may find yourself the target of petty crime. This is pretty normal in less developed countries, but Phnom Penh is actually safer than Vietnam and Bangkok. Crime levels have gone up recently, but if you take reasonable precautions, this shouldn't be particularly more concerning than in any big city. Bag snatching is a minor issue in downtown areas at night, especially for western women. This also occurs from the side of Tuk Tuks at night, perpetrated by thieves on motorbikes. To be sure, make sure you keep your bag on the inside of you at all times.Learn more about home and personal security in Cambodia.The State of Medicine in Cambodia:Perhaps you have heard that you should "Go to Thailand" if you need medical care while in Cambodia.It was not that long ago that this was the standard wisdom in the ex-pat community, but medical care has come a long way in recent years. Increasingly, Phnom Penh has first rate doctors available, whether foreign doctors who came here to practice or Cambodian doctors who were trained abroad. Dental care is also comparable to that in more developed nations, while costing far less.None the less, some kinds of procedures may not be available locally. Thus, it is not uncommon for people to go elsewhere if they require certain things. Thailand is still popular, followed by Singapore and Malaysia. Bangkok is particularly popular for OB care. However, even after you factor in travel expenses, you will find that medical care in this region will generally be less expensive than what you would pay in the USA. To give you a general idea of the price range: Visiting a local emergency clinic for stitches, plus two follow-up appointments, can cost less than $300.Getting Groceries:Ex-pats can shop at modern grocery stores for many of the same amenities they would find in a western country, often at prices that are not substantially different, though there are certainly some notable exceptions. For example, apples and are not native fruits here. Since they are imported, they may be surprisingly expensive compared to the prices in your country of origin. However, many ex-pats enjoy checking out the numerous open air markets that dot the city. Similar to Farmer's Markets, these are a great place to get great prices on locally grown produce. Bonus: You may get a chance to learn some of the local language (Khmer) and it puts you directly in touch with local culture in a low risk, comfortable manner. You do not have to be too adventurous to partake of this ex-pat experience, while collecting charming stories to tell back home someday. Ex-pats may love the local outdoor markets with their fresh, surprisingly cheap in season produce, but for more perishable items, like meat and dairy, many ex-pats prefer to shop at stores geared towards western sensibilities. These are western style grocery stores with air conditioning and refrigeration for perishables. Unsurprisingly, they are more readily available in some of the same neighborhoods where ex-pats tend to concentrate, such as BKK 1 and 2 or the Russian Market. You may especially enjoy the lingering French influence that is clearly present at such places. Their bakeries routinely carry croissants, baguettes and other authentic French style baked goods. Most ex-pats can find all their familiar favorites, just like back home. If you are feeling a bit homesick, you can just stock up on all of your "normal" foods and cook at home, giving some of the local eateries a rest for a bit. Then dip back into Cambodian culture again at will, whenever you feel like it.Wine and Spirits:If you are fond of good alcohol, it is surprising how readily available and affordable such things are in Cambodia. Many familiar brand names, such as Absolut Vodka, are readily available, usually for under $20. You can find wine shops and craft beers. There are bars and restaurants that will serve you cocktails. Happy Hour often means cocktails are half price. A can of local beer from a local shop is astonishingly cheap. You can also find experiences such as weekly rum tastings.Local Transportation:Within Phnom Penh, ex-pats and locals mostly travel by hiring tuk-tuk and "motos" (local slang for motorbikes). Tuk-tuks are carriages pulled by a motorbike. Going across town via tuk-tuk should cost around $5. Shorter trips within the city will be less.If you are traveling alone, you can catch a ride for a small fee on a moto. This will be cheaper, but more of an adventure. They are not particularly regulated here, thus most drivers are engaging in a casual form of unregulated entrepreneurship. Pretty much anyone who owns a motorbike can hire themselves out. They do not usually provide helmets for their passengers. Of course, they typically do not wear a helmet themselves either. Taxis can be found, but they mostly service the airport. If you really want a taxi, you should call and arrange one. They do not typically cruise the city looking for passengers, so it is not realistic to assume you can readily flag one down. In 2015, local bus service was established in the city. Unsurprisingly, given how new the system is, routes are limited and service is not yet reliable. This is something to look forward to for the future, but not something you should count on for basic transportation just yet.Travel Outside of the Capital:Phnom Penh’s International Airport is still being upgraded. Its ongoing expansion has added more international flights, both to and from the capital. There are multiple daily flights to Bangkok, Thailand, and Ho Chi Minh City, Vietnam for less than $100. For about $50, you can take an Air Asia flight to their Kuala Lumpur hub, and from there go on to other parts of Asia. Although the local bus service is in its infancy, regional bus service has been around for some time. Thus, it has had the opportunity to mature. Typically for less than $20, you can find air conditioned buses to most parts of the country via Giant Ibis. For not much more money, it is also possible to find buses that will take you to a bordering country, such as Thailand. If you wish to go someplace not on an established bus route or you wish to retain additional control over your schedule, for a bit more money, you can also hire a car and driver to take you anywhere you wish to go.A Magnet for Foreign Nationals:Phnom Penh has much of the charm and opportunity that our parents found in so many places around the world, but which is nearly non-existent these days. This unusually low cost cosmopolitan city offers ready access to relatively obscure, exotic regional destinations. Plus, it has economic access to major markets, such as India, China and Australia. This makes it one of the few places left in the world where educated people from more developed nations can find abundant career opportunity while living like they are on a permanent vacation.Retiree’s Mecca:InternationalLiving.com’s Annual Global Retirement Index has just named Cambodia as 1 of 3 top retirement destinations worldwide. The retirement index seeks to compare and contrast retirement destinations around the world – all of which are exhibiting relatively low costs of living by global standards. Retiring in weaker economies is becoming a global trend for expats from more expensive, developed economies, as the relative costs of living in cheaper retirement destinations guarantees a better quality of life for pensioners. In the past 10 years the Kingdom of Cambodia has become one of Southeast Asia’s most up-and-coming destinations for tourists and expats looking to enjoy the exotic charm of a country that also offers the most attractive cost of living in Asia.Cambodia has flexible visa requirements for citizens of Western countries who can obtain annual long-stay visas with a minimum of paperwork and a processing fee of just $285 per year. When you get there, everything from entertainment to renting is very affordable in Cambodia. Meanwhile, the Cambodian government looks set to make it even easier to retire in the Kingdom…Meanwhile, the government has released plans to increase Cambodia’s attractiveness as a destination for foreign retirees, according to a draft policy from the Ministry of Tourism obtained by the Cambodia Daily. “The draft includes a range of proposals to extract more income from Cambodia’s tourist industry by encouraging foreigners to buy property and stay longer in the country, with involvement from the ministries of tourism, finance and land management,” said the Cambodia Daily report.The proposed policies are said to include measures such as the development of “special residences” throughout Cambodia with commercial tourist properties and a wide range of useful facilities. “Special tourists” such as retirees would have the right to buy, rent or sell property in these special residences, and also be entitled to longer-term and more flexible vi­sas, according to the draft of the policy.Enjoyed the Expat guide to Phnom Penh? Learn more about real estate investment in Cambodia!

The first annual Real Estate Market & Outlook Conference 2016 (REMOC2016) took place 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.  Here is what Kuy Vat, chairman, CVEA; chairman and ceo, Century 21 Cambodia, had to say...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.

Yesterday, J & L Property Development officially announced the launch of Sky Tree Condominium in Phnom Penh’s Russey Keo district. J & L Property Development have over 20 years of local experience in Cambodia – and are working in strategic partnership with the world-renowned constructor MCC International Corporation of Beijing, China; Urban Architecture, the most innovative and respected architecture company in the Cambodian market; Knight Frank, the renowned UK real estate consultancy firm; Century 21 Cambodia; CBRE Cambodia; Matsu Property of Taiwan; &, of course, Realestate.com.kh, the premiere real estate search website and media agency in Cambodia.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM  Guests of honor included Mr. Scott Wu, General Manager of J & L Property Development Co. Ltd, Mr Chen Shaochun, President of MCC International Corporation Ltd., and Mr. Sun Qingdong, Vice President of MCC International Corporation Ltd. As Mr Scott Wu, General Manager of J & L Property Development, said at yesterdays conference, "J & L Property Development is the main facilitator and owner of the Sky Tree Condominium project, bringing in world re-known and highly respected specialized partners in developing, planning, constructing, managing the various stages from start to completion, launching of project in accordance with the needs and means of the country, international standards and in a timely manner. J & L has a vision to help Cambodia to bring the country's image into the world property markets, and to do so is creating a world class product by collaborating with renowned partners." J&L wish to make affordability of owning a condo, as a prime objective, by lowering prices as much as possible, suited to the local demand and financial means, but meanwhile maintaining a high quality finished condo product. J & L will provide a "one-stop" solution by bringing a foreign bank into the partnership to provide "hassle- free" housing loan directly to the buyers and investors of units at SKY TREE project. Local and International buyers are only required to pay an initial deposit of 10% of the total purchase price. This is affordable for local buyers. Buyers then have access to finance for the rest of the payment, with 40 months of interest free finance to pay the balance 20% of the purchase price, then 70% bank loan available for all buyers for the remaining balance, with up to 15 years repayment. Sky Tree Condominium units start from just $89,440 NET. J & L’s founder, Mr. Simon, had a wish to create a healthy lifestyle for those living in the city of Phnom Penh, by introducing high technology based parts and materials imported from overseas, such as eco-friendly materials, air-tight window frames, tinted window glass frames, green features and nature built within the development.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM J & L Property Development wish to be a "catalyst" in quickly developing Phnom Penh into the world market for property investment; and is approaching major players in key markets in order to combine their regional expertise and expose the Phnom Penh market to their huge networks. J & L wants to ensure the safety and well being of the buyers and investors for the life of the development, and as such have partnered with one of the TOP construction companies in the world - MCC International Corporation from Beijing. The C.E.O and family will also be staying and living in the condo upon completion. Construction has already begun at the Russey Keo Site. Mr Sun Qingdong, Vice President of MCC International Corporation LTD, stated that "MCC ranked 326th among the world’s Fortune 500 companies and 10th in Engineering News-Record’s Global Top 225 Contractors. At MCCI, we specialize in designing and building the strongest portfolio of engineering feats around the world. MCCI has branches, subsidiaries and representative offices in Southeast Asia, Middle East, Africa, South America, etc. MCCI is proud to offer engineering, construction and overall strategic support for J & L Property Development Co. Ltd. Cambodia’s current and future projects." With the strategic support of MCCI Corporation, construction has already started at the site in Russey Keo, Phnom Penh - long before the sale’s launch. Phase 1 will be completed by 2019, ready for handover to buyers.   Mr. Melvin Baroga, Head of Design Department, Urban Architecture Co., Ltd, stated that "the design of Skytree Condominium is based on a strong desire to create an architectural impression that exemplifies grandeur. Pronounced perpendicular lines that extends from the podium up to the roof communicates a feeling of superiority from the surrounding buildings. Combination of horizontal and vertical design elements are used to communicate solidity. It creates rectilinear forms that suggests stability and permanence." "Residents can enjoy lounging by the swimming pool surrounded with greeneries or relaxing at the SPA and massage room. A mini-rainforest adjacent to the pool area is provided for those who wants to be immersed in the nature experience that Skytree has to offer. The spacious sky park on the connected roof decks is an ideal place for fitness and exercise. It offers a central space for residents to gather in the evenings," said Mr. Baroga. Although this is J & L’s first Cambodian project, it will be the start of many more to come.LEARN MORE ABOUT THIS EXCITING PROJECT: SKY TREE CONDOMINIUM

Welcome to another real estate news recap, from Realestate.com.kh - your leader in property information! Keep up to date with market changes, and be an investor with FORESIGHT! Cambodia Microlending Industry Expands:As the consumer economy grows, many foreign investors are thinking it wise to establish businesses that would be mutually beneficial for both them and Cambodia. One of the interested companies who want a slice of the pie is Japanese-owned Mothers Financial Japan Plc. The microfinance institution aims to give Cambodia’s microlending industry a competitive edge as it introduces lower monthly interest rates of 1 to 1.8 per cent. This will provide access for 20 to 30 per cent of the 3.4 million families who are still in need of financing.Five More Protected Forests in CambodiaFive forests that were previously owned by the ministry of fishery, agriculture and forestry are set to be made into protected forests as part of Cambodia’s efforts toward biodiversity. Minister Say Samal said that this plan was developed roughly two-and-a-half years ago but had only been approved recently.  Though environmentally geared towards biodiversity, this also means that there’s one less area where infrastructural developments can be made. Will the government decide in the long run that this wasn’t such a good idea and will this affect major investment in potential businesses? We hope not.Cambodia Gives Multilevel Marketing a Chance?Multiple advisories were released before by the Securities and Exchange Commission of Cambodia regarding MLM scams and abuse, but it seems that Malaysian-owned company Zhulian Corp Bhd may be able to convince them otherwise. With plans of business expansion, Zhulian Corp Bhd is eyeing on Cambodia and Laos as another location for investment. With the decline in demand in Thailand, the company suffered substantial loss but ultimately gained thrust once more when they decided to make a few more investments with outside entities and business partners. Zhulian Corp Bhd carries items like jewelry and gadgets. Having said this, it may not be far off too that they would adjust their business model and profit from the country’s growing real estate industry.Preview of Stars of Kovan While Cambodia has had its fair share of profits and loss, Singapore is making headlines as they finally unveil their first commercial development that’s British-inspired. Though a new development concept may not appeal to the general public, it’s estimated to have a grand total of 390 condominium units, five strata houses and 46 strata shop units that will ensure profit for its developers who plan on completing the project by 2020. From Cambodia to Thailand  It’s been no secret that there is tension between Thailand and Cambodia, most especially with regards to Preah Vihear where Cambodian officials had closed the Thai entrance to the Hindu temple complex. This is one of the reasons why Thai soldiers decided to create a scale model of the complex along their side of the border. They hope to attract more tourists to their side as the months go by. Though Thailand may have waged a big game of tug-of-war against Cambodia with its tourist population, Cambodia is still a force to be reckoned especially when it comes to real estate. Research shows that there was a 60 per cent increase in condominium prices since 2009 in Thailand but is still relatively cheap while Cambodia remains to be competitive in terms of its real estate financial affordability.

Talks of the conflict in South China Sea remain to be one of the most important issues Asia is facing right now. As the battle for land and resources rage on among ASEAN countries who are staking claim on it, Cambodia remains to be by China’s side while claiming to have a neutral stance on the issue. The conflict was apparent in yesterday’s presidential debate in the Philippines when the candidates presented their case for the ongoing dispute. One candidate, Mayor Rodrigo Duterte said of the issue, “I won't go to war with China, but if they don't cooperate I'll stake claim.” Should the conflict escalate, can Cambodia retain a neutral stance or will it stand with its long time partnership with China? Will this affect any potential and outstanding dealings between Cambodia and the Philippines? We may have to wait for the decision for the arbitrary case filed by Manila against Beijing to find out. Meanwhile, China – along with Brunei, Laos and Cambodia – asserts that the conflict should not affect ASEAN relations.

In an interview with The Nation, a major Thai publication, the director-general of The International Trade Promotion Department Malee Choklumlerd said that after the success of their first Proactive Project which helped 2,602 SMEs generate a combined income of THB8.89 billion, it is now willing to invest THB400 million more to for SMEs that will focus on innovation and the environment.They intend to break into overseas markets most especially in Cambodia, Laos, Myanmar and Vietnam from 2016 to 2018 which is also the duration of the project. SMEs will be able to apply by proposing marketing plans through institutions such as the Federation of Thai Industries and the Thai National Shippers Council. Can this mean quirky and innovative infrastructures for Cambodia and the other CLMV countries? We’re remaining hopeful.

With a long standing history of close business and investment relations with China, Cambodia may have more to look forward to as China climbs through the economic ladder. Co-founder and chairman of the Cambodian Institute for Strategic Studies Chheang Vannarith, in an interview with Khmer Times, has mentioned that with China being one of the primary countries to set up the Asian Infrastructure and Investment Bank, developing Asian countries such as Cambodia will have sufficient investment for economic development so long as it “defines its national interest in terms of economic development and poverty reduction.”

SUPREME HOLDINGS & HOSPITALITY (INDIA) LIMITED, part of the JATIA GROUP of India, recently visited the Kingdom to explore investment opportunities in the Cambodian real estate and prime hotels market.Supreme Holdings has been incorporated in India since 1982 and became a public listed on the Mumbai stock exchange in 1994. Supreme Holding’s business and ownership interests have largely been in 5 Star Hotel development and operations, Real Estate Development (including land bank acquisition), Trading, Food and Beverage, and various other ventures. Their group portfolio in India includes Asian Hotels Limited, a five star hotel operator - established in 1980 and operating since 1983. There are three five star hotels under Asian Hotels Limited’s umbrella, respectively in Delhi, Mumbai and Kolkata, with a total room capacity of 1234 rooms. Asian Hotels is a public listed company on the Bombay Stock Exchange and is also the first Indian hotelier to collaborate operationally with Hyatt International Hotels. Other companies include: Westlife development: Sole Franchisor of McDonald's in West and South region of India, Pudumjee Paper Products Limited: Manufacturing of speciality paper products, Bell Ceramics: Manufacturing of vitrified tiles. Belmac Residences is a latest project of the Jatia group, a high-end residential development project in Pune, India. The construction of the Belmac Residences project has just started and estimated to be completed in 30 months. The project construction cost is estimated to be INR 4200 million (US$70 million). The Belmac Residences project, on completion, will house 240 boutique apartment units in six low-lying towers, each 50 meters high. The development envisages a host of modern lifestyle amenities, including full clubhouse, sports centre, swimming pool and idyllic landscaping of the complex grounds. Further, all units at Belmac Residences will include high quality finishes and interior décor. Supreme Holdings owns 26000s/m of prime development land in the center of the city of Pune, which is located about 150 km south of Mumbai. This will become the location of Belmac Residences. Pune is the second biggest city of Maharashtra State, the well known cultural and education centre of India, in particular in the fields of Information Technology and Software development, and also Industrial development in outskirts of city. Off-plan buyers of Belmac Residence apartments will only need to pay 20% upfront on signing. The remaining 80% is paid on completion of the construction and full possession by the buyer. This offers huge investment potential for Indian buyers, and low upfront capital in the short term - all of which is secured by a highly reputable development company. Supreme Holdings also offers various competitive financing options for those considering taking home loans in India to support their investment. Supreme Holdings offers finance options with various banking partners, including ICICI, HDFC, SBI, AXIS and LnT Finance. NEED MORE INFO ABOUT BELMAC RESIDENCES OR THE JATIA GROUP?Please contact Ivanna Investments Ltd., the local sales partner for Belmac Residences in Cambodia. Email: ipanjwani42@gmail.com; Office Address: Canadia Tower, 18th Floor, Room #1808.

Yon Woo Cambodia Co. Ltd.'s Gold Tower 42 has become an intriguing mystery in the history of construction in the Kingdom. Beginning in 2008 and abruptly halting in 2009 due to the financial crisis, the project has experienced a series of delays and uncertainties over the past decade. The company has held meetings with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) to address the suspicious construction start dates.Although the developer appeared to have resumed work on the tower in early 2019, with completion expected by early 2020 according to the contractor, as of mid-year 2023, the project remains incomplete. Ideally located at the bustling intersection of Monivong and Sihanouk boulevards in Phnom Penh, Gold Tower 42 holds a significant presence in the capital city.

Singapore has been one of the leading countries in terms of business and culture during the past years, but it seems that an economic downturn may spell trouble for architects and engineers. It was reported that there were 940 professionals who were released from their contracts, mostly coming from small architectural firms who are struggling to survive during this rough economic time. One other option these firms are taking is expanding or transferring to countries that have better economic and social conditions. This Architecture and Engineering Upset in Singapore may be bad news for Singapore, but this can also mean new ventures for other nearby countries in terms of real estate and infrastructure.

The theme of this year’s AVA congress shall be “One ASEAN, One Valuation Standard.”"The 2016 AVA Congress in Phnom Penh will build a stronger, clear and transparent relationship with the government to make sure that we will become the leading center in future ASEAN,” said Kim Heang.SIGN UP NOW AVA was established in 1981 with five founding members: Indonesia, Malaysia, Philippines, Singapore, and Thailand. AVA has expanded its membership to include Brunei in 1990, Vietnam in 1997 and Cambodia in 2009. Laos and Myanmar, the last two ASEAN countries yet to have been brought into the fold, are not officially members yet as they have no formal valuation profession in their countries. For this year’s congress, Laos and Myanmar retain an observer status in AVA. SIGN UP NOW

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 Penthouse Residence showroom in Phnom Penh. We are here with Mr. Imsouchivy Suos of the Penthouse Residence project. See the full listing and inquire today!Tell me about the Penthouse Location: The Penthouse Residence is in the heart of Phnom Penh city, the capital of Cambodia. The Penthouse Residence is a condominium complex that is located in the most developed and fast growth region of the city right along Sothearos Boulevard, just across the street from AEON mall and Sofitel Phnom Penh Phokeethra and very close to many other well-known institutions, international school, embassies, etc. Especially, this project is also very close to many tourist attractions such as the Royal Palace and Independence monument as well as the riverside and Diamond Island (Koh Pich).Who is this development for? What sort of buyers? Mostly middle-income Cambodian family and other foreigner who would like to invest or live in a modern lifestyle. The design concept is very attracting since The Penthouse Residence design is focused on Western Contemporary together with a very unique location, facilities and competitive price available for our customers. Among the 50% sold of our units, we noticed that there are a mixed of investors and customers who are not just from Cambodia but also Canada, USA, France, Japan and Australia.Talk me through the main features; why should a new home buyer consider this development? Beside the unique location, we also a very unique design with the corporation with the world class designer Sangiogior (Italy), 24/7 security, gym/sauna, sky bar, Infinity Pool and the unique glass design which could allow the condo owner to view the city view such as the Royal Palace, Tonle Sap River, Mekong River, Chaktomok River and Independence Monument right from their apartments. Beside this, on the top of our building, there is also first and only world class revolving restaurant to give the customers a 360 degree panoramic view of the city skyline. Surrounded by conveniences of international standard, located next to premium residences and business centers such as the Sofitel hotel, Aeon Shopping Center and ICAN British International School to name a few, make The Penthouse Residences the most desired address in Phnom Penh, especially for the new home buyers.Tell me about the quality of the builder, architect, finishes? We assembled a team of local and international engineers, architects and designers. For both exterior and interior designs are world class approved includes the cooperation with Sangiorgio (Italy), HAFELE (Germany), Cotto (Thailand) and many more. The Penthouse Residence project will be done by the end of 2018 with international 5 stars quality.What types of units are available, at what price ranges? We have different types of condominium available for all kinds of customers:Comfort (1 bedroom)Suite (2 bedroom)EmbassyPresidentThe Penthouse/RichmondThe price range is between USD 80,000 and USD 900,000. Please contact us to learn more.What investment potential is there? This project has so many potentials that is very attractive to our customers. With a very unique locations and reasonable price, our sales was over 30% before the Grand Opening and is over 50% today. We are also willing to rent back the condominium from our customers with 18% rate of the total purchase price within the first three years.What are the main 3 unique values of The Penthouse Residence?          - Reasonable/Competitive price          - Unique location with a lot of potential to growth          - 5 star international standard quality with a very unique Western Contemporary DesignFind out more about The Penthouse Residence!

Grand Phnom Penh International City has just unveiled their wet and wild Water Park, the biggest and best water park that the Kingdom has ever seen! With an enchanting medieval theme, the 8000 square meter water park has a series of slides, inner-tube rides, mechanized water buckets, forts and play areas, and is surrounded by a slow moving moat. If you get tired splashing around, take a break in the café, work out in the gym or, if you really don’t like getting wet, just enjoy the wide open, natural grounds of Grand Phnom Penh International city. Thousands have already visited the water park over Khmer New Year, an oasis during the long hot days of the nation’s biggest festival. The Grand Phnom Penh water park is now open to the general public every day! With tickets costing $4 for children and $5 for adults from - Monday to Friday; and $5 and $7 on the weekends. The park is open to the public from 9am to 6pm.Learn more today!

Realestate.com.kh is extremely proud to be working together with Hong Leong Bank of Cambodia to make your dreams of owning a home a reality. We want to help all Cambodian’s leverage their finances effectively to improve their life, and the life of their families, today! Through this unique partnership, we want to help all Cambodian’s manage their finances effectively to afford the things most important in their lives, ensuring sustained prosperity for businesses, households and the families within - and help you spend less time worrying about money, and more time enjoying your life. Hong Leong Bank (Cambodia) Plc. or HLBCAM is a wholly owned subsidiary of Hong Leong Bank Berhad – one of the leading banks in Malaysia. HLBCAM further cements Hong Leong Bank’s legacy of meeting the evolving needs of customers by offering a broad range of banking and specialized financial services in Cambodia. Relating to their home loan product range, HLBCAM has a 20 year home loan and home investment loan, a 10 year home equity loan and a 10 year commercial mortgage loan all allowing you to borrow up to 70% of market value. Living up to the Group’s tagline of “Reaching Out to You”, the Bank reaches out to its customers in Cambodia through its inaugural head office branch and Priority Banking lounge, strategically located in the heart of the city and 4 other supporting branches throughout the busy Phnom Penh districts. Hong Leong’s vision in Cambodia is to become Cambodia’s ‘preferred’ financial services provider among the leading banks, and our mission is to partner with our targeted business community. Hong Leong strives to help create better value as we fulfill our customers’ financial needs with the highest level of integrity and professionalism, where our highly capable people make the difference. A standout feature of Realestate.com.kh is being able to apply for a home loan directly – and you can even use our clever home loan calculators to work out how much you will likely need to loan, based on the price of the property you are considering. Once you know the value of your dream house or commercial property, with Realestate.com.kh you can apply for a loan directly to Hong Leong with the click of your mouse. This process makes getting a home loan easier than ever before – all from the comfort of your home, office and even from your mobile phone! Find out more today about how you can finance your dream home with Hong Leong and Realestate.com.kh, Cambodia’s home of real estate.

With over 30 years of experience in the property development business, the Taiwan-based TC Royal Manor Co., Ltd. steps back into the Cambodian prime development’s market with their latest project: TK Royal One. TK Royal One started construction in early January 2015 and is slated for completion by the end of 2017. The project is located along the city’s main artery street, Russia Boulevard - well positioned in front of the renowned Royal University of Phnom Penh. The new project is also conveniently backed onto street 122, meaning easy access off the main road for those using the extensive car parking facilities.On your doorstep, find great cafes and eateries, such as Brown Cafe, the Pizza Company and the TK Avenue shopping plaza and cineplex. And for International buyers and those that work in Phnom Penh, TK Royal One is just a 10 minute drive to the Phnom Penh International Airport and the Phnom Penh Special Economic Zone. The project offers both office and residential units, providing state-of-the-art amenities suited to a modern urban lifestyle. Freehold ownership is available to both local and foreign buyers, with prices starting from $2,800 per square meter. And there are more than just condos and offices in this new project - all tenants will enjoy fully managed services such as the gym center, swimming pool and rooftop garden overlooking the entire city. Luxury, security, privacy are the hallmark features of the International Grade TK Royal One project.Taste a life that is defined by modern living - and don’t miss out on this great investment opportunity. Inquire with the professional sales consultant team today!

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 6: HOW TO DEVELOP YOUR REAL ESTATE AGENCY CAPACITY AND PROFESSIONALISM IN CAMBODIARealestate.com.kh: As a business development director at Vtrust Appraisal, obviously you do a lot of work helping real estate agencies increase their capacity. If you could give maybe the top four tips that you would give for real estate agency development? How to build a successful real estate business in Cambodia?In Sitha: Well, I think the four major factors that should be applied in order to make a successful real estate agency in Cambodia are Location, Human Resources/Training, Investment Capital and Marketing.Location is one of the key factors for a successful real estate agency business. Companies that are physically situated in the right locations for client’s easy access generally have the best success.Number two, human beings. Human Resources are crucial for any real estate agency. And this means the right people for the right jobs. Professional training for the agent shall be important and necessary too, and training should not stop during their career.Number three, Investment Capital. Any new real estate agency must be ready before starting at all for more than short term operational expenses. They need sufficient investment capital for at least three years. We have 2000 in real estate market in Cambodia and it is good. But in fact it's not enough. They have to pay a lot of operational expense. The staff salary, utilities, licensing, certificates, marketing etc etc. Be prepared before you try to start a business, because it won’t start generating money for some time.Number four is Marketing - you need to make your agencies known and respected. The best type of marketing these days is online. Learn more about choosing the right Cambodian real estate agent, on realestate.com.kh today!

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 4: WHY PHNOM PENH BOREYS ARE PROVING SUCH A POPULAR MARKET FOR DEVELOPERS AND HOMEBUYERSRealestate.com.kh: We're seeing a real rise in new borey developments across Cambodia recently. Can you explain why property developers are particularly interested in the Phnom Penh Boreys market? Why build a Borey?In Sitha: Okay. This is a good question. In this industry right now are seeing two main types of major developments: Borey development and condo development.Realestate.com.kh: Sorry, I guess for the viewers, can you explain what a Borey is? - Because I know this word is  used a lot in Cambodia, but for people outside Cambodia, maybe they don't know what a Borey is.In Sitha: Essentially, a borey is a gated community of flat houses, twin villa houses and single villa houses, including public areas, gardens and full security services. Those who want to buy a borey home are looking for privacy, a safe place for their family to grow, areas where communities can develop, and a place where all modern amenities are assured. They are they prefered first home of newlywed Cambodian couples looking to start a new family.Most of the local developers choose to invest in Boreys. The reason is that developers themselves gain a lot of profit from investment in borey projects over relatively short investment periods. The customers themselves also buy into a good environment for family living. It is popular with Cambodian people who prefer landed buildings, or flat houses. In the Borey, it’s generally all some kind of a flat house, link house or villa home. It can be one story or two story maximum. They also generally have a common area and playground for children. Check out the Borey buyers guide!Realestate.com.kh: Like a neighborhood. Like a fenced neighborhood. In Sitha: Yeah, that's right.Realestate.com.kh: They have infrastructure, have water, have electricity.In Sitha: All included. Generally, for a home in the Borey, the market price increase yearly from 10-15%. This is a good investment to the buyer themselves. They can buy this year, and next year they can sell. If the market is good, it could be more than 15% appreciation. Compare the interest rate with the bank, it's much better than investing the bank. Realestate.com.kh: Because the Borey  buyer, they own the land right? They have freehold ownership of the land. In Sitha: Yes they own the plot of land that their home is situated on, hard title generally - but best to check!Realestate.com.kh: Now lots of local people move away from the city center to the Borey’s on the outskirts of town right?In Sitha: Yes, that's what you see. The Borey developments are long line investment development projects. Which means that the developer spends much more time on the investment, starting from the early master plans and filling the totally undeveloped land.Realestate.com.kh: Maybe fill the land.In Sitha: Yeah, up to the completion of the development projects. The marketing time also takes longer to promote and ultimately sell it. Borey means one community. And each household  shall pay the management fee. Management fees are reserved for the security, reserved for the public life, reserved for the street cleaning, pool and playground for children- garbage collection as well. Boreys offer great security to families.Realestate.com.kh: More of a community lifestyle too?In Sitha: Yeah, yeah.Check out the latest and greatest borey properties, on realestate.com.kh today!

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 5: COMMON MISTAKES MADE BY PROPERTY DEVELOPERS IN THE CAMBODIAN MARKET, AND HOW TO AVOID    Realestate.com.kh: What are some of the most common mistakes that you see developers making when they first come to Cambodia?In Sitha: Well, the most common mistake that the property developer makes when entering the Cambodian market is moving too fast. Before starting any project a feasibility study is crucial. And they need to get recommendations from professional real estate agents.Realestate.com.kh: They're moving too fast?In Sitha: Before starting the investment, yes. That's why they could not identify the right location for the right project. Developing and selling are not separate. You need to consider your market before you even break ground. Which means that my recommendation, I would like them to use a professional real estate agent to teach the international developer about the local real estate market conditions. At VTrust Appraisal - we can do that. We are experienced and skilled in the real estate industry since 2004. We are the first to get developer and agent license from the Cambodian Security and Exchange Commission of Cambodia. Feasibility study is the most common service that developers request us to do before entering into this market.Realestate.com.kh: So many developers are coming in and doing everything too fast. They think the local market is the same as the Singapore market or Malaysia market and they're very surprised.In Sitha: Yeah, that’s true. First of all they need to do the market research. What is the best area for starting the project? The project is built based on the available investment capital. We would like to get the best return on that investment capital. Realestate.com.kh: The right property, the right price and the right market.In Sitha: That's right.CHECK OUT CAMBODIA'S SMARTEST NEW DEVELOPMENTS

Kampot native, Lun Vuthy, started his career in Phnom Penh working with a Vietnamese company importing secondhand freight containers into Cambodia.While his first employer focused on reselling the containers for storage purposes, Vuthy spent his early working years online on his smartphone surfing innovative container refurb projects around the world.As he surveyed condo blocks, cafes, office centers and recording studios in urban centers around the globe, he soon saw the architectural potential of the metal boxes his business was dealing.“Containers represent a kind of blank canvas. They are just a shell of of a building, but the artistic interior and exterior design possibilities are endless,” says Vuthy.Three years ago, Vuthy’s Vietnamese employer closed up shop in Phnom Penh and left the Cambodian market. Vuthy kept the list of container import contacts and launched his own startup business: Vuthy Container.Three years later, the 28 year old real estate entrepreneur has 15 staff and growing, and is involved in an eclectic mix of container-based real estate development projects.For the first year, Vuthy’s bread and butter was mobile office space. Vuthy buys the container shells from China, Vietnam or Korea at around $1000 per piece, and then sets about upgrading them for specific residential and commercial uses.Fully fitted office containers, complete with carpet, insulation and air conditioning sell for around $3000 for a 25 square meter unit. These have proven a hot ticket for construction and development companies, farmers, factory owners and those in need of supplementary business space. Some local TV stations have also implemented Vuthy’s containers as noise-proof recording studios.Yet, nowadays Vuthy isn’t just dreaming of more adventurous real estate projects.The most unique and extensive project to date is K-Race Container Pub on street 59, Daun Penh. K-Race Container Pub is a bar, restaurant and live music venue made from a set of 20 connected freight containers.For this project, Vuthy Container worked closely with the architect to create a creative but functional venue. K-Race, now open for business, plays on the industrial theme, waited by staff adorned in hard hats and overalls. The interior of K-Race is also defined by recycled features, such as the bottle windows and re-fashioned 40 gallon drum loungers.Another upcoming project will see Vuthy Container working closely with a German/Malay couple designing and building a Bungalow style hotel in Kampot, again consisting of a collection of recycled containers.A Singaporean F&B vendor in Phnom Penh is also working with Vuthy to launch an inner city cafe with a collection of six containers.Vuthy too sees significant opportunities for his enterprise to enter the Cambodian affordable housing market. For less than $6000 per unit, a 30 meter square container can be renovated into a 3 room abode, subdivided into a toilet, bedroom and livingroom/kitchen.The ease of stacking containers into blocks of apartments also create the potential for land-size-sensitive urban affordable housing projects using containers.By insulating with materials such as styrofoam and mineral based “rock wool” and installing vents, fans or aircon, as per the end user’s needs, Vuthy manages to create extremely price effective and highly livable spaces.Vuthy remarks that, “Containers are well suited to the Cambodian market - and especially in the cities. They are very affordable, they are structurally sound and weatherproof, they take up only a little space - and they are always available.”“By reusing and re-purposing containers there are a lot of winners.”Get in touch with Vuthy today: 089 / 098 / 068 822977