F
ISSUE 9
R E E
COMPETITION HEATING UP IN SIEM REAP HOTEL MARKET Full story on pages 50 & 51
OPPORTUNITIES SPROUTING FOR KAMPOT ECO-RESORTS Full story on pages 40 & 41
INSIDER ANALYSIS
EXPERTS SAY SIEM REAP TO BECOME NEXT SIHANOUKVILLE Full story on pages 10 & 11
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LETTER FROM THE EDITOR
CREDITS Editor-in-Chief:
Dear Readers,
interviewed some industry experts to get their take on the matter. Read more about the
Welcome to the ninth issue of the Cambodia
threat of oversupply inside.
Real Estate Magazine. As the most comprehensive real estate resource in the
One of our goals at Realestate.com.kh is to
country, we seek to bring you all the latest
help educate our readers. In this issue, we
news about property in the Kingdom.
profile several key areas around the country. Turn ahead and you’ll find guides to Phnom
What makes Cambodia unique is the mix of
Penh’s Russey Keo, Chbar Ampov, BKK2
demographics, especially among real estate
and BKK3. Further afield, we’ve done deep
buyers. Of course, Cambodians make up the
dives on Koh Rong, Kampong Cham and
largest part. We’re currently in the midst of
Battambang.
rapid urbanisation in Phnom Penh. Many locals are joining the middle class. In turn,
What’s more, we’ve got guides in this issue
they are looking for landed properties on the
covering other aspects of life in the Kingdom.
outskirts of town. They want to be close to
Have you ever wanted to know how to start a
the city, but also have a safe place for their
business in Cambodia? Flip through to read
families.
about all the steps you’ll need to take. Looking for the best place in Phnom Penh to exercise?
Investors from other countries in Asia make
Check out our list of the capital’s best gyms.
up another key group. Many hail from China,
Lastly, we’ve made a prediction about the
Japan, South Korea, Malaysia, India, Vietnam
top five technologies that could reshape
and Thailand. These investors are looking
Cambodian real estate in the coming years.
Managing Editors: Kosal Ky Carrie Sun Contributing Writers: Kosal Ky Hellen He Cheng Huy Hong Art Directors: Parigna Heng Jozel Ann Esguerra Sales & Marketing: Tyler Stuart Nin Kang Su Mey Limeng San Sotha Vatey Mom Publisher: Image Printing
for high-end condos. Properties like this can serve as a holiday home, a location for
Thank you for picking up a copy of the
retirement, or an investment.
Cambodia Real Estate Magazine. Please enjoy issue nine and find more content like this
Finally, there are expats who live and work in
Tyler Lebens
Special Thanks: The Realestate.com.kh Team
every week at Realestate.com.kh’s news blog.
Cambodia. These clients are renters. Yet there
For more information
is a growing demand for more amenities and
please contact us at: info@realestate.com.kh
facilities. Many want buildings with pools,
+855 (0) 92 92 1000
gyms and cafes.
In this issue, we have something for everyone.
TYLER LEBENS
Focusing on condominiums, we’ve drawn up a list of the top 10 reasons you will want to own one. But wait, you say. Aren’t people saying there’s a condo bubble? Luckily, we
Browse almost 50,000 properties from over 150 agents and the leading property developers
TABLE OF CONTENTS
28
The ultimate real estate guide to Battambang
32
Developing with recreational amenities How added features are helping the market grow
36
Kingdom’s condo market Setting off ‘Golden Age’ of real estate
40
Opportunities sprouting for Kampot eco-resorts
42
Cancellation of EBA Will it hit the kingdom’s real estate sector?
48
Five ways to spice up your home decor with Chinese feng shui
50
Competition heating up in Siem Reap hotel market
52
How to start a business in Cambodia A guide to understanding the market
62
Realestate.com.kh’s Home & Lifestyle Expo Draws over 20,000
8
Prince Real Estate Group’s latest masterpiece Prince International Plaza project set to be international benchmark
10
Insider analysis Experts say Siem Reap to become ‘next Sihanoukville’
12
Realestate.com.kh hits the road with massive bus campaign
14
Expat guide to BKK 2 and BKK3
18
Cambodia property sector Forecast for the next five years
22
Cambodia Real Estate Awards Entries now open
24
Chbar Ampov location profile Traditional area becomes a modern living corridor
2018 CAMBODIA REAL ESTATE
5
Read the recap of Realestate.com.kh’s Home & Lifestyle Expo
LETTER FROM THE CEO
2019. The show took place at Koh Pich Exhibition Center on April 26 and 27. It was a smash hit and will go down in history as one of the region’s biggest real estate events. Exhibitors at the show sold millions of dollars worth of property over the two-day event. Additionally, the event hosted automakers, tech firms, designers and more. In the following pages, you’ll also find an introduction to the Cambodia Real Estate Awards 2019. This year’s awards
Dear Valued Readers,
banquet will be the second iteration of CREA. There are some This year, 2019, is shaping up to be a blockbuster year
remarkable individuals working in the real estate industry
for Cambodia’s growing real estate sector. Despite minor
here. These are the people pushing the sector to new heights
hiccups, 2018 was a great year that saw amazing progress.
and they deserve recognition.
That, in turn, fuelled positive sentiments for the years to come. The property market will hit extraordinary new heights
Realestate.com.kh remains at the forefront of the real
as the decade comes to a close.
estate industry. We provide expertise, up-to-date content and collaborate with Cambodia’s real estate bodies.
As the market in the Kingdom matures we are witnessing
The Cambodian Valuers and Estate Agents Association,
a real-time balancing act. Condominium developers are
the Ministry of Economy and Finance and the Housing
creating luxury products for wealthy expats. Borey projects,
Development Association of Cambodia are just some of the
meanwhile, are defining a new era for middle-class locals.
offices we are proud to have partnered with.
They are giving many an opportunity to own land and a home On behalf of everyone at Realestate.com.kh, I wish to thank
for their families.
our readers, clients and partners. Their support is invaluable These two sections of the market are almost polar opposites.
to the company’s success. Please enjoy the ninth issue of the
Yet, both are bringing positive momentum to the country.
Cambodia Real Estate Magazine.
This issue is the ninth edition the Cambodia Real Estate Magazine. It recounts the stories that shaped the property market during the first half of this year. It also includes insider analyses from leading experts, location profiles and in-depth
TOM O’ SULLIVAN
features.
CEO, REALESTATE.COM.KH
WHO WE ARE 30
Established in 2009, Realestate.com.kh is
property investors from all over the
team based in Phnom Penh who are
Cambodia’s leading website for property
world.
ready to serve our customers anytime!
Meanwhile, property sellers can
We seek to provide the best possible
list their properties on our website
online real estate buying and selling
Our website lets users search for
and receive direct sales and rental
experience for both home buyers and
properties based on location (by city,
inquiries. And if you don’t know how
property sellers. Contact us today at
sangkat and khan), property type and
to use the website to upload, we can
info@realestate.com.kh or 092 92
price range. A lot of these users live
even help you do this. We have a
1000
in Cambodia; however, we also attract
dedicated expatriate and Cambodian
buyers and sellers. We are Cambodia’s home of real estate.
2018 CAMBODIA REAL ESTATE
7
FEA TURED P RO PERTY
PRINCE REAL ESTATE GROUP’S LATEST MASTERPIECE P R I N C E I N T E R N AT I O N A L P L A Z A P R O J E C T S E T T O B E I N T E R N AT I O N A L B E N C H M A R K
Cambodia’s appeal has grown
unprecedented pace. The participation
tremendously in the last decade.
of renowned Chinese developers is
Once pristine and untouched, the
only fuelling the breakneck speed. It
The entire project consists of five
country now has modern potential,
seems one project after another is
12-storey buildings with a total building
especially in the property industry.
turning heads. The middle class here
area of 200,000 sqm. Within these
Skyscrapers, commercial and
is rising as well. This means a more
buildings, it also has 5A commercial
residential communities, as well
mature market is developing for new
spaces, star-rated serviced condos,
as shopping and entertainment
types of real estate.
restaurants and a retail business
centres have sprung up in Phnom
into a metropolitan hub.
avenue. It will become the epitome
Penh, Sihanoukville and Siem Reap.
Prince International Plaza is ideally
of a modern lifestyle in Cambodia’s
These complexes are combining
located in the intersection of three
capital. It is to be completed and
cutting-edge technologies with
major districts: Toul Kork, Meanchey,
delivered by the end of 2020.
tradition. Indeed, the lifestyle here
and Sen Sok. Developers are
is attracting talented people who
also eager to build here because
want to help the nation grow.
of the proximity to the Phnom
Full series of conveniences
Penh International Airport. Prince
Many important amenities are within
Currently, the real estate sector
International Plaza will be an iconic
arm’s reach such as shopping centres
in Cambodia is growing at an
project that helps to transform the city
like Makro Wholesale and TK Avenue.
8
CAMBODIA REAL ESTATE 2018
Education institutions like the RUPP,
restaurants and bars, a game centre
Prince International Plaza sits in
Institute of Foreign languages and
and a playground. All these highlights
an area that is set to become a
quality hospitals like Royal Hospital of
will be spread across the first three
new business district. It will truly
Phnom Penh and Victoria Hospital are
storeys. Hence, the community
transform the city of Phnom Penh,
also nearby.
will bring innovation to integrating
and be a milestone for the country’s
business, entertainment and leisure
development.
From Prince International Plaza, tons
into a charming package.
of the city’s facilities are within a few kilometres.
Prince Real Estate Group is an The utmost elegance
international corporation with 30 subsidiaries, land holdings of 10
Multi-dimensional traffic system
The residences in this project are
million sqm and developments
outfitted with the latest designs meant
spanning 15 million sqm. Thus
Efficiency is key to a successful life.
for cultural elites. Units range from
far, nearly US$2 billion has been
Prince International Plaza is located
50 to 157 sqm. Every condo is meant
invested in the Kingdom by Prince.
along Russian Boulevard, one of the
to be a top-tier space with exquisite
Its investments are set to accrue $6
most important main roads in the
furnishings. Residents can host parties
billion over the next decade. Prince
capital. The Phnom Penh International
and show off their own rapport and
Real Estate Group has become one
Airport and the city’s railway station
hospitality to their entire social circle.
of the leading property developers in
can be reached by car in less than 15
Cambodia by establishing impressive
minutes.
Excellent services
new landmarks across the country.
Diversion of functional spaces
Occupants will have access to a state-
Prince International Plaza, the second
of-the-art fitness club and infinity
major project under the brand name,
Aside from having luxury residences,
pool, which is a favourite venue for
is another credit to Prince’s name!
this project also comes with the best
businessmen to relax and take in
commercial spaces. They span 63,000
the city scenery. Attentive customer
sqm and include multiple flagship
service and 24-hour security will
retail outlets and plenty of modern
ensure safety and comfort at the plaza.
office space. There will be a massive
There are more than 1,000 parking
supermarket, IMAX digital cinema,
spots in this community. Because of
fitness club, a number of featured
this, transportation is a breeze.
View Prince International Plaza listings on Realestate.com.kh.
2018 CAMBODIA REAL ESTATE
9
ED I TORI AL
INSIDER ANALYSIS E X P E R T S S AY S I E M R E A P T O B E C O M E ‘NEXT SIHANOUKVILLE’ Siem Reap has always been the
is growing rapidly. Conversely, the
a bit by lack of professionalism
main tourist hub of Cambodia. In
market for both apartments and
among agents. This year we saw
recent years, however, southern
commercial space didn’t do as well.
many inexperienced people acting
Sihanoukville has been stealing
Demand just isn’t there yet.
as unlicensed brokers. What’s
the real estate spotlight. Chinese
more, rental prices were mostly
investment in the coastal province
We did see growth for both mixed-use
stagnant or even down for houses,
has fuelled the biggest property
and residential complexes this year.
villas, apartments and commercial
boom in the Kingdom’s history.
Also, the property management grew
properties.
significantly. The construction sector Some say Temple Town is set
had a positive year, as well.
to follow a similar path. Others contend it will be more of a gradual
Land outside inner city started
process. Realestate.com.kh’s
drawing more attention from local and
Ky Kosal spoke with four Siem
investors, pushing price to rise notably.
Reap property experts to get their opinions.
Q: What were the strengths and weaknesses of the Siem Reap
Choch Cho
market in 2018?
Founder and CEO, Siem Reap Property Services
Charles Evans Director, Cambodia Property Shop
Rents didn’t move much in 2018. November and December saw slight increases, however. There are still many Westerners coming to retire here.
It was a good year for Siem Reap’s land market. Prices went up and
Chrek Soknim President, Cambodian Valuers and Estate Agents Association (CVEA)
more hotels and businesses were developed. Both tourism and investment from China increased. At the same time, many local buyers invested in land. This both expansion
Hospitality has always been the biggest industry in Siem Reap. The market for low- and mid-range accommodation
10
CAMBODIA REAL ESTATE 2018
and increases in land prices. However, the mood was soured
We are seeing a growing trend of online businesses in Siem Reap. That can only serve to strengthen the economy. An apartment can now be rented for between $300 and $600 a month, a private villa for between $800 and $1,500, or a studio unit for around $150 to $300 per month. Sangkat Sala Kamreuk, Wat Bo pagoda and Wat
EDI TO R I A L
Damnak pagoda are the most popular
will be flocking here soon, just as they
areas for rentals.
Also, the government needs to keep
did in Sihanoukville.
pace by improving infrastructure in
Since the supply of land plots is
Tourism will lead the growth, but other
limited, growing demand is leading to a
and a clean environment to welcome
industries will follow such as food and
price increase there.
investments.
beverage, entertainment, apartments,
the area. They need to promote safety
eco-tourism and much more. Siem Reap’s GDP growth is expected to be around 13% this year.
Charles Evans Director, Cambodia Property Shop
Phin Vanna CEO, Camglobe Realtor in Siem Reap
This year will see many construction projects starting up. Many locals who purchased land over the last
This will be a good year for business. The 2018 election is behind us so
Phin Vanna CEO, Camglobe Realtor in Siem Reap
Plot land transactions were up in 2018. Dom Dek commune and the Phnom Krom area were particularly popular. Land around Tram Neak Market saw a huge price bump. I think growing investor demand was responsible for this. Plots in high-traffic areas of town are now going for as high as $200 per
there is optimism. Without a doubt, Chinese investors will dominate the market this year. More Chinese nationals will continue purchase land and other properties. Siem Reap’s growing land values are pretty much the same to Sihanoukville, Kep and Kampot in that respect. I believe land is the best type of property investment in Siem Reap right now. It has huge potential because there is a limited supply and growing demand.
year will begin building residential or commercial structures on these plots. Chinese developers will begin projects that will conclude over the coming years. Local developers, on the other hand, will target middle-class Cambodians with units at or below $50,000. There will be a boom for real estate activity, but it won’t happen as fast as it did in Sihanoukville. For one thing, we have more restrictions on high-rise developments. Also, casino investments aren’t welcome here.
square metre. Even rural plots that were previously as cheap as $0.60 per
Choch Cho
Generally, people in Siem Reap
square metre saw an increase.
Founder and CEO, Siem Reap Property
are aware of what is going on in
Services
Sihanoukville. Because of this, they tend to be more cautious about
Q: What will happen to the Siem Reap market over the course of
Many Chinese investors and visitors
2019?
will come to the province in 2019.
Chrek Soknim President, Cambodian Valuers and Estate Agents Association (CVEA)
foreign investment.
Unfortunately, businesses focused on Western tourists could have a rough year as European visitor numbers are on the decline. To maintain stability we should aim for a healthy mix.
If you’re thinking of starting a business in Siem Reap, 2019 is the year to do it.
Meanwhile, agents in the area need to
An operation can grow big in just three
boost their professionalism, skill level
to five years. International investors
and honesty.
View ultimate guides to property on Realestate.com.kh.
2018 CAMBODIA REAL ESTATE
11
ED I TORI AL
REALESTATE.COM.KH H I T S T H E R O A D W I T H M A S S I V E B U S C A M PA I G N
Realestate.com.kh has expanded
in Siem Reap) are rolling around town
on Cambodia’s leading networks CTN
its vaunted marketing campaign to
with signage promoting Realestate.
and MY TV, and billboard advertising.
include transit advertising.
com.kh in both Khmer and English. To do transit advertising,
Since October 2018, multiple buses
Cambodia’s leading real estate website
Realestate.com.kh signed an
have been running on Lines 1A, 2, 3,
and marketing agency made a foray
agreement with the Phnom Penh City
4B, and 5 bearing the Realestate.com.
into transit advertising as it continues
Hall to allow it to advertise via the
kh brand. In addition, hundreds of
its biggest marketing campaign ever.
public bus system.
tuk-tuks (100 in Phnom Penh and 50
The campaign also includes promotion
12
CAMBODIA REAL ESTATE 2018
EDI TO R I A L
Realestate.com.kh’s decision to enter
the city and its suburbs, are clean, and
the world of transit advertising is
give passengers a cool, comfortable
expected to pay dividends big time.
ride to their destination.
Transit advertising is one of the best and most effective forms of marketing.
Phnom Penh City Hall currently
This type of promotion is inexpensive,
operates more nearly 200 buses
reaches a wide audience, and offers
donated by China and Japan. The
high visibility on a daily basis.
buses run from 5:30 AM to 8:30 PM
During important public holidays like Pchum Ben, the buses are used for the free transport of people from Phnom Penh to the provinces and vice versa. At present, the Phnom Penh public bus system services 13 routes.
every day and crawl to a halt at every Transit advertising is seen as
bus stop along the route to offload
particularly effective for a small city
and pick-up passengers.
like Phnom Penh where the public bus is a popular and constant presence.
A ticket for a single trip only costs
The air-conditioned buses form
1,500 riel or less than $0.40. Workers
the backbone of the Phnom Penh
and students can ride the buses for
public transport system.They are the
free by just showing their labor card or
cheapest form of transportation within
student ID.
View latest real estate news online at Realestate.com.kh
2018 CAMBODIA REAL ESTATE
13
ED I TORI AL
EXPAT GUIDE TO BKK2 AND BKK3
They don’t quite have the
The main types of housing you will find
easier if you are looking for something
reputation of their brother to the
are:
specific. Head over to our list of the
east. But Boeung Keng Kang 2 and Boeung Keng Kang 3 pack a
best realtors in Cambodia. Shophouses in BKK2 and 3 Renovation in the nation
big punch. These two districts are similar in feel. So, we’re bringing
Two- and three-bedroom flats inside
you a combined expat guide to
traditional shophouses are one of
Renovations seem to be happening
BKK2 and BKK3.
the most common arrangements for
constantly, so it’s easy to find a
expats in Cambodia. Many are split
shophouse that has been tricked out
BKK2 and BKK3 sit just across
into two levels with kitchen and living
with Western touches. Indeed, many
Monivong Boulevard from the foreign
areas below and bedrooms with en-
flats are indistinguishable from those
quarter of BKK1. Due to the lower rent
suite bathrooms above.
in Europe or the US.
This type of housing is what the
Some landlords even choose to
majority of expats in BKK2 and BKK3
subdivide the house and will offer one
Our website can help you find the
end up choosing. You can check our
bedroom units next to larger ones.
best expat rentals in BKK2 and BKK3.
website to see houses for rent in BKK2
Price here can vary a lot. You can still
However, if you’re not picky about
and houses for rent in BKK3.
find a great place for around $500 a
prices here, many expats choose to live here.
where you live take a look at our other location profiles.
14
CAMBODIA REAL ESTATE 2018
month. Using a realtor can make the process
EDI TO R I A L
Jihye Kim, who works for a capital
will be standard and bathrooms will
NGO and has lived as an expat for
have modern showers. They will run a
more than three years, lives in a
range of different styles, too.
one-bedroom unit of a renovated
Chillin’ in the villa Villas are often used for businesses, but occasionally one will pop up on
shophouse in BKK3. She pays around
If you want to search on your own, we
the renter’s market. They can be
$500 a month on rent.
have listings for you to find a condo for
expensive, but if you have a large
rent in BKK2 or BKK3.
group and want more seclusion, this
“I like that it is centrally located but is also quiet,” she said, adding that her
can be a viable option. All luxury, no hassle
two cats have plenty of space in the roomy unit.
Villas can be found both furnished and Full-service apartments look similar
unfurnished and most have spacious
to the condominium units described
balconies and small gardens. Prices
Condos and apartments are
above, however, buildings will have
vary based on size and location.
coming
more luxury features. Pool, fitness
Most villas for rent in BKK2 and BKK3
centre, 24-hour security, internet
are between $2,500 and $5,000 per
New tower blocks seem to be popping
connection and housekeeping services
month.
constantly in Phnom Penh. While most
are part of the package. The best hangout spots are here
of them can be seen in nearby BKK1, they are spreading to neighbouring
Luxury buildings can still be found on
districts. Units will resemble typical
a budget. If this type of housing suits
These districts are small in size.
apartments in the West with a full
you check out our page on apartments
They stand out in terms of activities,
range of furnishings.
for rent in BKK2 and apartments for
however. Show Box is a dive bar just
rent in BKK3.
around the corner from the Tuol Sleng
Couches, tables, cabinets and chairs
museum. It has served as a haunt for
2018 CAMBODIA REAL ESTATE
15
Stuck in the middle with you
expats for years and years. They host
expat will know. Along Monivong you’ll
everything from heavy metal concerts
find a series of Chinese hand-pulled
to comedy nights.
noodle shops. Regardless of which one
There’s no doubt that Phnom Penh is
is the original, they all serve delicious
changing. Every expat has an opinion
soups and stellar dumplings.
on this. Most remark that BKK2 and
Another expat standby is The Flicks Community Movie House. The
BKK3 feel distinct from BKK1.
independent theatre’s main branch
Up near Sihanouk, Yosaya will suit
is located in BKK2. They screen three
if you’re looking for Thai food. Want
The atmosphere here sits somewhere
films a day and a $3.50 ticket will let
some local fare? Plenty of beer
between the foreign quarter and the
you see all three.
gardens around Tuol Sleng have their
more local Toul Tum Poung to the
grills fired up by sundown. Coin Cafe
south. Because of this, many love living
Current owner, Ramon Stoppelenburg,
and Bar can be a good place to get a
here.
explained that the district has changed
mix of Khmer or Western food.
enormously since he took over the business in 2011.
No matter where you choose to live, Daily life in BKK2 and BKK3
there will be plenty to discover. Above all, get to know your area. Get to know
“Before, the city lacked anything
Convenience stores can be the best
the hole city, and venture around the
besides bars and restaurants … [The
way to pick up a small snack or daily
country. Even if you’ve been here for
Flicks] has become the escape haven
groceries. Kiwi Mart and Fresh Mart
years there’s always something new
for the many expatriates and tourists
are perfect for this.
to see.
in town as it screens better movies, film festival winners, documentaries
Life doesn’t have to be all fun and
and has kids’ sessions,” he attested.
games when you live here. Stop in to Muscle Fitness for a daily workout. If
Food is fantastic
you want to do a few laps, head over to the pool at Ming Hour Club.
This area has a few staples that every
16
CAMBODIA REAL ESTATE 2018
View latest real estate news online at Realestate.com.kh
2018 CAMBODIA REAL ESTATE
17
ED I TORI AL
CAMBODIA PROPERTY SECTOR: FORECAST FOR THE NEXT FIVE YEARS
The Cambodian real estate sector
For instance, in the capital city of
borey units, and other residential
has been growing tremendously in
Phnom Penh, there is a long list of
units. With more Cambodians
the last few years. In Phnom Penh,
residential, commercial, and mixed-use
being lifted out of poverty by one
Siem Reap, Sihanoukville, Poipet,
developments recently completed,
of Southeast Asia’s fastest-growing
Bavet, Kep, and other parts of the
underway, in the pipeline, or on the
economies, demand for the same
country, there is a flurry of non-
drawing board.
properties is also growing.
massive investments, mostly from
Consequently, there is constant and
The value of real properties,
China, fuel a roaring building boom.
growing supply of condos, apartments,
particularly in the most-developed
stop construction work going on as
18
CAMBODIA REAL ESTATE 2018
EDI TO R I A L
areas of the country, has also gone
“I think Cambodia’s real estate industry
up, though comparatively cheaper
will keep moving forward in the next
As for supply, Virak said he expected
compared to those found in
five years,“ he said.
that the current upward trend will hold
neighbouring countries.
in the foreseeable future. “Supply will Virak explained that developers often
continue to increase where more than
Despite forecasts of a property market
look at economy, society, technology,
10 million square meters will reach the
crash in the near future, the general
and political stability when investing in
market every year,” he said.
consensus among local property
the property market. ”Political stability
experts is that the Kingdom’s real
is the main factor they look into,” he
Hodge agreed with Virak’s forecast.
estate sector is headed in the right
stressed.
“Supply is on the up across all sectors
direction. In the next half-decade,
and we see no slowdown in this trend
growth in Cambodia’s property sector
Echoing Virak’s outlook, James Hodge,
so long as the economy continues to
is expected to be mainly in condo and
Associate Director at CBRE, said that in
pursue its current growth path,” he
borey developments, foreign direct
the next few years the property market
said.
investment, land price, demand, and
will offer a breadth of options across
supply.
all grades and will be able to compete
“Project launches may continue to be
in terms of quality with other centres
small in number but the scale of the
across the Asean region.
projects is set to increase, especially as
Soth Virak, CEO of Huttons CPL, said Cambodia benefits from relative
the large Chinese developers establish
political stability and continuing foreign
“International serviced apartment
themselves and their brands in the
investors’ confidence. The just-
operators will be more prevalent and
Cambodian market,” Hodge added.
concluded national election gave the
a few of the most forward thinking
ruling Cambodian People’s Party (CPP)
local real estate companies will have
Likewise, both property experts agree
another five-year mandate to run the
blossomed into market leading,”
that demand will not slow anytime
Kingdom.
he stressed.
soon.
2018 CAMBODIA REAL ESTATE
19
ED I TORI AL
Virak said that both local and expats
His view is backed by Virak, who said
will continue buying properties in the
that in the next five years he expects
Kingdom where the middle to low class
China to continue to be the leading
housing project with low to interest
property investor in Cambodia,
free will be the big market.
followed by Japan, Korea, Malaysia and Vietnam.
Over the next five years, according to Hodge, both local and Chinese backed demand and supply are likely to be the biggest influencing factors on the Cambodian real estate sector. Hodge said the foreign investment outlook for the Kingdom’s property sector also looks good. “Investment in manufacturing and infrastructure will still be largely dominated by foreign players,” he noted.
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CAMBODIA REAL ESTATE 2018
View latest real estate news online at Realestate.com.kh
2018 CAMBODIA REAL ESTATE
21
ED I TORI AL
CAMBODIA REAL ESTATE AWARDS ENTRIES NOW OPEN
Realestate.com.kh has announced
Over a dozen awards will be given
the hotly anticipated followup
out during the gala dinner. Some of
to last year’s Cambodia Real
the top honours include Real Estate
Cambodian Investment Management
Estate Awards. Last year’s award
Agency of the Year, Best Up and
(CIM), renowned accounting firm,
ceremony was a resounding
Coming Agency of the Year, Employer
is entrusted with overseeing the
success. It marked the first time
of the Year and much more.
entire judging process of CREA 2019.
in Cambodia’s history when real
through online voting.
As Official Supervisor of the CREA,
estate agencies and agents were
The CREA have become a benchmark
CIM works to ensure that the CREA
highlighted and recognised on a
for Cambodia’s real estate agencies,
judging process, from start to finish,
wholly objective basis.
individual agents, valuation experts
is conducted objectively and with the
and property management firms.
utmost integrity.
How to enter
Realestate.com.kh and the CVEA
This year, the legacy continues and the show will bring the property industry to even greater heights.
the event organisers, remain wholly
Entries are now open. Agencies will be
There are absolutely no costs
independent and separate from the
grouped into two different categories,
associated with entering or winning
judging process.
depending on the size of staff. This
awards at the event. The CREA winners
will ensure that the awards cover the
will be judged and, ultimately, named
The judging process will be monitored
huge variety of real estate businesses
by a panel of industry experts and
with diligence by the Ministry of
operating in the country.
government officials. Judges will
Economy and Finance to ensure the
also consult public opinion obtained
awards are free from any bias. CREA
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CAMBODIA REAL ESTATE 2018
EDI TO R I A L
follows a global model that awards excellence in a transparent, objective and fair way. Wine and dine Once nominees are shortlisted, all finalists and the Kingdom’s broader real estate industry will be invited to attend an awards ceremony and gala dinner. This will give everyone a chance to celebrate an amazing year of achievements. Under the guidance of the Ministry of Economy & Finance and the support of the CVEA the gala event is set to be the real estate industry’s biggest celebration in Cambodian history. H.E. Mey Vann will officially open the evening and the night will be celebrated with over 300 of the leading real estate agents, property developers, government officials, lawyers and economists. The night will be broadcasted via live feed on the countries biggest media platforms CTN, Fresh News, ThmeyThmey, the Khmer Times and, of course, Realestate.com.kh! Finalists and award winners will be granted the prestigious CREA seal. This symbol can be used in all marketing materials. Winners will receive a beautiful trophy and a certificate confirming their personal or company achievement. The Cambodia real estate industry’s “night of nights” is a not to be missed event, and tickets are available on a first come first serve basis until all are sold out!
2018 CAMBODIA REAL ESTATE
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LOC A TI ON PR O FILE
CHBAR AMPOV: TRADITIONAL AREA BECOMES A MODERN LIVING CORRIDOR
Development seems to have Phnom
Straddled by the Mekong and Bassac
one of its fastest growing areas due
Penh almost bursting at the seams.
rivers, Chbar Ampov district sits just
to the momentum of the capital’s
One district, however, still holds
south of the city’s centre and is divided
progress in the economy, technology,
plenty of the Kingdom’s natural
into eight sangkats (communes),
new developments and housing and
beauty. That’s not to say Chbar
namely: Prek Pra, Chbar Ampov Ti
commercial real estate. Indeed, less
Ampov is remote. In fact, it has all
Mouy, Chbar Ampov Ti Bpi, Nirouth,
than 10 years ago the area was still
the modern touches of city life. It
Kbal Kaoh, Prek Aeng, Prek Thmey, and
considered to be rural.
has plenty of breathtaking views as
Veal Sbov.
well.
Hay Ravy, marketing and sales Chbar Ampov is now becoming
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CAMBODIA REAL ESTATE 2018
manager of Daily Realty Group, said
L OCA T I O N P R O F I LE
Chbar Ampov has become a peaceful
Most notably, the recently opened
CDN Property, speculated that Chbar
residential option for many home
Park Community Mall seeks to be an
Ampov could become a popular area
buyers. Ravy identified Chbar Ampov Ti
all-encompassing entertainment plaza.
for retirees in coming years, given that
Mouy, Chbar Ampov Ti Bpi and Nirouth
It features retail space, child care and
land prices there were still growing
as the most developed communes in
sport facilities.
relatively slowing compared to the rest
the district.
of the city. Hodge, of CBRE, said The Park is
“These areas have connecting
designed to cater to residents of
“There is still only one major condo
infrastructure including bridges,
the district as well as those passing
project in Chbar Ampov where
National Road 1, sewage systems,
through on the national road.
one-bedroom spaces are going for
sanitation and a fresh environment,” he said.
between $400 and $500 per month. “Most notably, The Park’s retail space
Most people relocating to the district
focuses on food and beverage brands
are opting for shophouses in boreys,”
There are six major housing projects
as well as services such as a pharmacy
Socheat added.
in the area, along the main corridor.
and salon.”
Borey Peng Hout, Borey Luxury and
He noted that numerous Khmer
Borey Lim Chheang Hak are just a few,
He added that other retail options in
buyers prefer not to live near the
according to Ravy.
the district were relatively traditional,
rivers, but developers were doing their
but claimed that activity is likely to
best to change opinions and make the
It’s no surprise that many new
ramp up as population size and
waterfront an appealing place to buy
developments have chosen to highlight
income levels both grow.
property.
Indeed, as developers seek to diversify
Given that Chbar Ampov is a bit
“Compared to nearby Dangkor district,
their offerings, many are looking past
further from Phnom Penh’s centre, it
Chbar Ampov is relatively cheap.”
more central districts in an effort to
hasn’t seen a drastic rise in land prices
draw in buyers.
like districts such as Daun Penh or
Daily Realty’s Ravy speculated that,
Chamkarmon. Many developers there
within the next five years, more
James Hodge, associate director of the
are utilising borey developments to
residential homes, high rises, condos,
estate agent group CBRE Cambodia,
meet the growing demand in the low-
apartments and commercial spaces
agreed that the riverfront areas were
to middle-level housing segment.
would be established in Chbar Ampov.
the district’s vast riverfront plots.
the defining feature of the district. According to a report from the “Chbar Ampov in particular benefits
Kingdom’s VTrust Appraisal, Chbar
from a large river frontage, which
Ampov hosted roughly 10% of all the
developers are keen to ensure is
capital’s landed residential projects.
capitalized upon through the use of
Chief among them, the report
pedestrianised broad walks, marinas
highlights the success of the Borey
and as additional transport route,”
Peng Hout project.
he said, adding that both luxury and affordable options were emerging in
Moreover, the document shows that
the district.
residential linked houses make up more than 60% of housing options
Despite the recent focus on Chbar
in the district. This shows the area’s
Ampov’s natural beauty, it still hosts
status as a sort of suburb within the
a wealth of modern amenities. Every
city.
day, more and more offerings are popping up along National Road 1.
Search for properties in Chbar Ampov now on Realestate.com.kh
Yim Socheat, CEO of the capital’s
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LOC A TI ON PR O FILE
THE ULTIMATE REAL ESTATE GUIDE T O B AT TA M B A N G
Located in the northwest of
Bit of background
Cambodia, Battambang is one of
Mekong Express, Capitol Tours, Phnom Penh Bayon Express, and Phnom Penh
the most important provinces in
Until a few years ago, Battambang was
Sorya Transport all make trips to the
terms of economy, tourism, and
largely a sleepy province visited only by
town. It usually takes five to six hours
agriculture. Heck, it hosts the
a few adventure-loving tourists. Today,
along National Highway (NH) 5. A bus
Bamboo Train and the country’s
however, Battambang ranks as one
ticket usually costs $6 to $12.
only winery!
of Cambodia’s top tourist destination,
Battambang is the third most
while its economy has been one of the
From Siem Reap, on the other hand,
best-performing in the country.
buses take just 3.5 hours and tickets
populous province in the Kingdom,
can be had for around $5.
with a present population of more
The province is also known as the “Rice
than 150,000. It is also Cambodia’s fifth
Bowl” of Cambodia, producing more
There are also daily boat trips from
largest province with a total area of
than half of the country’s annual rice
Siem Reap to Battambang and vice
11,702 square kilometres. Battambang
output.
versa. The trip can take from four to 12
city is its capital.
hours depending on the time of year By bus or boat
and costs around $20.
provinces of Banteay Meanchey to the
Battambang does not have a
Bakeries and backpacker bars
north, Pursat to the east and south,
commercial airport, so visitors must fly
Pailin to the west, and Siem Reap to
to either Phnom Penh or Siem Reap
Like the other top tourist destinations
the northeast. Battambang also shares
then travel to the area by car, bus or
in Cambodia, Battambang does not
a border with Thailand.
train.
lack in dining options. If you want to
Battambang is bordered by the
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CAMBODIA REAL ESTATE 2018
savour mouth-watering Khmer food
other luxury amenities. They charge
$2,400 to $4,000 per square metre
while also contributing to a worthwhile
from $80 to $120 a night.
while prices are just $100 to $300 per
cause, Jaan Bai, which is run by the
square metre further out.
Cambodian Children’s Trust (CCT), is a
If you have a budget of $30 to $70
choice you will not regret.
Battambang will not disappoint you.
Shophouses in Battambang are
Delux Villa, Classy Hotel, and King Fly
currently going for around $150,000
Unlike Siem Reap or Sihanoukville,
Hotel the most well-known in this
to $180,000, Neardey said, adding that
Battambang is not known for nightlife.
segment.
homes in a borey were often cheaper.
Still, Battambang has some good bars
He cited Borey Rom Chek, which had
and watering holes where you can
Like the other touristy places in
spaces on offer for as low as $40,000
drink a beer or two. The names most
Cambodia, Battambang hosts a large
or up to $80,000 for a two-story
prominently mentioned are Riverside
number of budget accommodations.
house.
Balcony Bar, Lotus Bar & Gallery, Here
Of course, there are dorms where
Be Dragons, Vintage Wine Bar Mezze,
you can easily stay for $10 or less per
There are tons of villas in Battambang.
and Madison.
night.
Many are outside of the city centre, however. Neardey said villas varied
Beds from budget to boutique
Buying or building
widely in size, lot size and level of luxury. Small ones can currently be
Visitors will find that there is no
Battambang has been getting more
found for as little as $50,000. Larger
shortage of places to stay Battambang.
attention lately as a key secondary
ones on big plots are going for up to
Offerings run the range of price, as
market in Cambodia. Real estate in
$600,000. Some are being used for
well.
Battambang is quite affordable and
businesses, while small ones are often
there is potential for many industries.
holiday homes.
luxury brands as Phnom Penh.
Sear Neardey, senior valuation officer
As far as plot land, Neardey said that
Nevertheless, hotels like Bric-a-Brac
at Key Real Estate, which has an office
plots were starting at around $3,000.
and Bambu Hotel have stunning and
in Battambang, said that the Sangkat
Development is still a bit slow, he said,
well laid-out rooms and provide access
Svay Por area is growing in popularity.
but many areas are being developed
to swimming pool, sky bar, gym, and
Plots near the centre go for between
for business not residential purposes.
Battambang doesn’t have as many
2018 CAMBODIA REAL ESTATE
29
Busy and bustling Battambang
interesting scenery. Along the route
wine, and grape juice.
are the Banan Mountain, forests, Banan, before becoming Buddhist
Battambang has a wide range of
orchards, caves, and other scenic
markets, retail shops, and other
spots. A ticket to ride the bamboo train
business establishments. You can
costs $5 for foreigners and $2.5 for
Located around 20 kilometres
find a rich variety gift and souvenir
locals.
from the centre of Battambang is Wat Banan. Built between the
items at La Fabrik Shop & Gallery. At Heng Chhay Ly Mart, a wide variety of
Built by a history buff
10th and 13th centuries by King Udayadityavarman II, the temple sits
locally-made and imported goods are available. Fresh fruits and vegetables
For people interested in ancient
on a hill overlooking the Sangkae River.
and many other products can be
history and culture, this museum is a
One has to climb up on a 358-step
bought from Psar Nath Market.
must see. Established in 1963 by the
staircase to reach the temple. Wat
prominent French historian Madeleine
Banan is the best-preserved of Khmer
Below is a sampling of the most
Giteau, the Battambang Provincial
temple in Battambang, despite being
well-known and visited tourist sites in
Museum houses pottery, musical
pillaged and looted in the past.
Battambang:
instruments, and artifacts from the Angkorian and Pre-Angkorian periods.
Big batches of bats
Bottles of the best brandy
Phnom Sampeau is a historic,
Boarding the bamboo 100-metre tall mountain 15 kilometres
It’s probably the most well-known attraction in Battambang. Locally
If you are a wine connoisseur or
outside of Battambang. The spot is
known as “Nori”, the trains are bamboo
just want to try locally-produced
peculiarly shaped like a ship, hence
platforms running on wheels and
wines, you may head to Chan Thai
the name Phnom Sampeau or “ship
powered by a small engine, usually a
Choeung (Banan) Winery 14 kilometres
mountain”. Overlooking Battambang,
tractor or motorcycle engine.
out of town on the banks of the
the site offers stunning views of the
Sangkae River. Every year, the place,
city and localities nearby. At dusk
The trains provide a unique and
which is Cambodia’s sole winery,
millions of bats fly out of the caves,
thrilling way of seeing the Battambang
produces several thousand bottles of
making for a spectacular scene.
countryside, with its beautiful and
Cambodian brandy, red wine, white
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CAMBODIA REAL ESTATE 2018
L OCA T I O N P R O F I LE
Boating and birdwatching
If you’re free-spirited, however, it’s easy to rent a bike, either the motor or
country.
pedal variety.
“Battambang is one of the last standing
era. Is now a popular recreational area
You can rent motorbikes from $6 to
real Cambodia,” she said, adding that
located just outside of Battambang. It’s
$8 per day or bicycles for around $2
a good place for picnics, boating, and
per day.
Kamping Puoy Lake was formerly a reservoir built during the Khmer Rouge
swimming. Visitors can hire a boat to explore the lake and its surroundings.
Becoming one of the best
Is also a good area for bird watching with the area inhabited by many
Battambang is sleepy no more. In
different kinds of birds.
the last few years, the province has
towns, where you still have a taste of when the highway connecting the city to Phnom Penh was finished in two to three years the story could change. “ I would urge people to visit now.”
steadily climbed the ladder to become Bumming around on bikes
one of Cambodia’s most important provinces. Barring some unexpected
Want to take a freestyle tour around
and tragic happening, there is no other
Battambang? Simply hire a local tuk-
way but up for Battambang.
tuk to drive you around and point out all the sights. A half-day costs just $10
Andrea Suteu, the manager of La Villa
to $15 and a full day $18 to $25.
Boutique Hotel in Battambang, said
Search for properties in Battambang now on Realestate.com.kh
the area is like no other place in the
2018 CAMBODIA REAL ESTATE
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AD VERTO RIAL
DEVELOPING WITH RECREATIONAL AMENITIES By George Foose development can be made amenity oriented. Amenities can be tennis, swimming, or fitness centres or they can be major developments such as golf, marinas, or large recreation and social clubs. However, there are potential pitfalls along the way. Why add amenities to a project? The primary reasons developers add recreational amenities to their projects is to 1) add value to improved land or real estate projects, or 2) gain marketing leverage for sales. In some developments recreational amenities are included with a view toward being profitable entities on their own. Sometimes the amenity can become a social focus of a community and serve a purpose well beyond adding value to What is amenity-oriented
can also be those that are man -
development? The word “amenity�
made.
as applied to real estate, is a broad concept that can include any
To take this discussion further,
feature that is attractive to a given
as developers, when we use the
market segment and so adds value
term amenity we usually mean
to the land. Many amenities are
a recreational site that is either
natural to a site, such as a splendid
natural to a site such as a beach,
view, convenient access, or even the
mountain, forest, or lake, or that is
climate and local culture. In a resort
constructed such as sports, athletic,
environment like Phuket these have
or health and fitness facilities. The
been recognised as the key drivers
basic assumption is that man-made
of both commercial and residential
amenities compliment the real estate
real estate development. Amenities
project. Nearly any type of property
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CAMBODIA REAL ESTATE 2018
real estate or selling homes faster. Conflict On the other hand, developing with recreational amenities can carry large risks. Most obvious is that the basic amenity strategy just might not work. If the facility does not attract a market and generate sales the higher carrying cost and debt, accentuated by lower than expected values, could bring down the entire project. A poorly planned amenity package can also tie up a developer
A DV ER TO R I A L
with high maintenance and operating cost. Many developers allow pride to get in the way of realising that they are not in the business of managing the operational complexities of large sports or hospitality amenities. Golf courses, sports clubs, and marina’s are classic examples of this. Amenity development and amenity management can be two separate disciplines. An “amenity strategy” means having a clear understanding of the market, the projects life cycle, and an early plan for the eventual transfer of the operational management or equity
buyers. But this can be one of the
specifications in the bid package,
control of the amenity. The two basic
major risks involved in recreational
which sometimes leaves the developer
purposes of recreational amenities,
development. The facility may require
at the mercy of his general contractor.
increased land value and added
heavy early financial resources and
All this stems from poor planning or
marketing leverage, reflect the interest
produce high initial operating losses
lack of interest in what happens after
of the developer or buyer on one
that the project cannot absorb.
title transfer.
Quality
Disclosure
value and others because they will be
One of the biggest conflicts between
The key to resolving these conflicts
heavily used. For example, club houses
the developer and the end user is the
between developer and buyer/user
and restaurants versus children’s
quality of recreational facilities. Very
is for the developer to establish an
playgrounds and tennis courts.
often when a developer includes a
“operational plan” that sets forth who
This divergence between marketing
package of recreational facilities for
will develop, own, and operate the
orientation and user orientation has
the purpose of gaining marketing
amenity for how long, and who will
long-term implications. Sometimes the
leverage, he does not have the end
use the facilities on what terms. Thus
developers chosen amenity, geared
user in mind. What gets built is a basic,
public “disclosure” of the developer’s
to sell real estate, will be expensive
brochure fulfilling, poor quality facility
operational plan can actually add
to maintain and be under-used, while
that soon falls into disrepair by the
perceived value in the minds of
facilities with extensive family appeal
phase of the project in which the buyer
buyers. Developers with up front
never get built. This is why many single
becomes the end user and is asked to
amenity strategies can use disclosure
amenity golf course projects still carry
contribute common area fees. Buyers
as a compelling marketing tool
the name “golf and country club”.
would be wise to check construction
that convinces buyers of a project’s
techniques, and the quality standards
credibility and commitment to quality.
hand and the interest of the user on the other. Developers may choose some facilities for their marketing
Phasing
of sports surfaces, lighting, and the fitness equipment of the recreational
Myths
The phasing of a project is one of the
amenities being promised to them.
principle issues of amenity-oriented
Poorly designed and built facilities can
One of the most widely accepted
development. Many experts believe
cost more to repair than the resident’s
myths in developing large recreational,
recreational amenities should be built
common area fees can afford. Another
hospitality, and health amenities is
first so that they can be used to attract
common problem is poor quality
that the developer needs to retain
2018 CAMBODIA REAL ESTATE
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AD VERTO RIAL
Summary For the developer looking the add value to his project with the inclusion of recreational amenities it is important to have an amenity strategy that addresses the issues of phasing, quality, disclosure and the disposition of the facility after it no longer has economic importance for unit sales. For buyers, members, and users of recreational amenities, it would be wise to factor in the ‘transfer� of not only the perceived value over time from the developer to the user, but the transfer of economic responsibility to maintain the facility. Nothing sells control of the operations and the
2. Contract full day-to-day
ownership of the amenity over a
operational control to a
substantial period of the development
professional management firm
process. This belief is particularly
specialising in recreational,
strong in family-owned developments
hospitality, membership, and
that include major recreational and
marketing issues.
social facilities in their package. The disadvantage to everyone, of the
3. Lease the amenity to a third
developer retaining control is that
party or professional management
because of the developer’s lack of
company which then assumes full
expertise in the many disciplines of
profit and loss of the facility.
amenity management, the project may fail to live up to its promise and
4. Retain full control of the
potential.
amenity by hiring an employee professional manager of the facility
Disposition plans
and give him a high or low degree of responsibility and authority.
There are four main types of
This may not create a win-win
disposition plans used by developers
situation for the buyers and users.
when framing their operational plan
Sometimes capable managers
for the inclusion of larger recreational
are relegated to caretaker status
amenities into their projects.
with no budgets or authority. Also, as sell out approaches and
34
1. Transfer of the amenity to an
the perceived value of the facility
owner association through an
transfers from the developer to the
equity plan. In this case it is then
users, their views are not going to
up to the residents or members to
be the same as the owner as he no
decide on the make up of the day-
longer has an economic need for
to-day amenity management.
the facility as a marketing tool.
CAMBODIA REAL ESTATE 2018
projects, and saves money like quality. Insist on international standard design, construction, surfacing, and equipment in recreational amenities. George Foose is Executive Director of Sports Engineering And Recreation Asia Ltd. He also heads Seara Management Associates, which specialises in the planning, design, development, and management of recreation and sports facilities, private clubs, hospitality, and recreational real estate projects. Contact : Mr. Anthony Gaglardi Seara Country Manager anthony@searasports.com Tel: 016 577 669
2018 CAMBODIA REAL ESTATE
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ED I TORI AL
KINGDOM’S CONDO MARKET
S E T T I N G O F F ‘ G O L D E N A G E ’ O F R E A L E S TAT E
Cambodia is considered one of the
buyers. There is a unique investment
or along major corridors such as
fastest growing economies in Asia.
opportunity in buying condos. They
Norodom or Hun Sen boulevards.
Without a doubt, this growth has
can generate a solid revenue stream
driven rapid progress in real estate.
and increase hugely in value over time.
The story changed starting in the second half of last year. Strategic
Condominiums, which represent a
Before last year, most new
areas such as Sen Sok, Tuol Kork and
new trend in the Kingdom, are gaining
developments were centred either
Chroy Changvar districts saw a flurry of
steam and catching the eye of local
near the central business district
activity.
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CAMBODIA REAL ESTATE 2018
Soth Virak, CEO of Huttons CPL, said
Khorn Kungkea, CEO of agency
the main factors that led buyers to
that the Kingdom is currently in a
ERA Cambodia, reflected on buying
condos. He said that if they wanted to
“golden age” of real estate and is
opportunities by saying that there
rent out the condos they were often
offering huge value gains compared
are benefits to be had when buying
able to get returns of 8% per year.
to Thailand, Vietnam and Malaysia.
from an off-plan project. He said that
Markets there, he said, are mature but
projects can increase in value as other
Felix Calimbo Jr, sales and marketing
growing at a slower pace.
projects fill in the surrounding space,
manager for the Residences BEL AIR
and can be expected to generate high
project, expanded on the flexibility
rental returns for years in the future.
offered by condo developments.
affordable land prices and freehold
“Before, 80% of my clients were
“[Condos] offer high capital
ownership.
foreigners. Now, however, most are
appreciation. Condos can be flipped
Cambodians,” Kungkea said, adding
into an apartment or hotel whereas
“Phnom Penh is now similar to
that reasonable prices are making for
other real estate investments can’t be.
Hong Kong in the 1980s,” he said,
a very attractive market.
Virak stressed two factors that make Cambodia unique in the region:
adding that Knight Frank and other
Calimbo was sure to remind that great
international brand developers are
A five-star unit in Cambodia, he said,
deals don’t always mean good quality
optimistic for the Kingdom’s future.
can sell for between $2,500 and
properties. He advised buyers to follow
$3,500 per square metre. He claimed
due diligence on legal issues before
According to a third quarter report
that a similar property in Singapore
making any decision.
from Cambodia’s agent group CBRE,
would be priced closer to $18,000 per
six new condo projects were launched
square metre.
in that time. The majority of them were in these new up-and-coming districts. The new projects are set to add a
Speculating on the future, however, he said that he expects condos to be
Echoing Kungkea’s view, Virak said that
a much more prominent feature of
90% of his condo buyers are currently
Phnom Penh’s skyline as the years go
Cambodian.
by.
further 2,374 units to the condo supply and will mark a 5.2% increase over
“For a typical project we sell five to
launches in the previous quarter. This
six units a month to local clients,” he
shows that developers are growing
confirmed, adding that convenient
more confident in the sector and are
location, good facilities and amenities,
putting down serious investments.
community lifestyle and flexibility were
View latest real estate news online at Realestate.com.kh
2018 CAMBODIA REAL ESTATE
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OPPORTUNITIES SPROUTING FOR KAMPOT ECO-RESORTS
The growth in Cambodia’s real
Reap seems to currently be leading the
estate sector has been turning
progress for eco-resorts, as the Angkor
heads as of late. Housing trends in
Wat complex is already one of top
Rithy himself has plans in the works for
the country are changing massively.
tourist draws. Eco-resort project have
eco-resorts in Phnom Penh, Siem Reap
Living standards and land values
also arisen in Preah Sihanouk, Kampot,
and Kampot.
are going up.
Kep, Koh Kong, Ratanakkiri, Mondulkiri
Another market, that of tourism in the
nature-based getaways.
and Kampong Speu provinces,
“We are now doing feasibility studies
however.
to determine each province’s potential
Kingdom, is also witnessing a changing
location for these coming eco-friendly
tide. As the number of incoming
Teng Rithy, founder & chairman
tourists rises, the amount invested into
of R’ Investment Group, said that
hospitality follows. Developers are now
Cambodia’s environment is fertile
Nearly 100 eco-focused resorts
seeking to capitalise on Cambodia’s
ground for eco-resorts to flourish. He
already exist across the country, such
unique landscape by investing in
claimed that investors should strive to
as Song Saa Private Island, Royal Sand
retirement homes, vacation homes
create ecologically sustainable areas,
Resort on Koh Rong, Koh Andet Eco-
and eco-resorts.
in addition to resort buildings. Unlike
Resort, Knai Bang Chatt Resort in Kep,
nearby Singapore, where developers
Siem Reap’s Phum Baitang and Salty
Each of the country’s 25 provinces
have to put millions into developing
River Resort in Kampot.
offers something unique that
the land, the Kingdom’s environment
developers are eager to highlight. Siem
already provides the foundation for
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CAMBODIA REAL ESTATE 2018
projects,” Rithy said.
The possibilities for highlighting natural
features are nearly endless, given
opportunities because the majority of
thatch surrounding modern amenities.
the country’s vast beaches, forests,
eco-resorts in Kampot are medium or
Meanwhile, they tried to highlight the
waterfalls, mountains and rivers.
small projects,” Ken added, claiming
natural environment of the river.
that the number of both domestic and Diving deeper into the potential for
Western tourists to the province is
“We not only offer the best services
Kampot province, Sok Ken, founder of
rapidly increasing.
but we also ensure safety and
real estate agency Kampot Property,
security,” Mathsary said.
said that province has seen rapid
Touching on price ranges, Ken said
growth of eco resorts over the last
that local tourists were often looking to
Looking to the future, Mathsary
year.
spend between $15 and $30 a night at
predicted that the province would see
an eco-resort.
a stronger economy from the rising
Ken attested that the area along the
tide of tourists. What was once known
Kampot River has gotten the most
Rithy noted that luxury
as a sleepy province, he said, could
attention. Plots up to 30 kilometres
accommodations in the country could
become a hub for hospitality jobs.
away have also been eyed for their
go for as high as $3,000 a night. He
natural beauty, however.
urged developers toward creativity,
“Kampot will be well known both locally
however, saying that those bringing a
and internationally,” Mathsary said.
Citing the access to mountains, rivers,
new concept to the sector should have
forests and the ocean, Ken claimed
flawless plans. Everything from designs
there was still plenty of undeveloped
and construction to food, beverage
potential in the region.
and security needs to be thought out, he claimed.
“There are many untapped and hidden areas that no one has touched yet,” he
Nos Mathsary, a representative of
stressed.
Bamboo Bungalow in Kampot, said that the resort made use of hybrid
“I believe there is still more
View latest real estate news online at Realestate.com.kh
designs with traditional bamboo and 2018 CAMBODIA REAL ESTATE
41
ED I TORI AL
CANCELLATION OF EBA W I L L I T H I T T H E K I N G D O M ’ S R E A L E S TAT E S E C T O R ?
The speedy development of
linked with the real estate sector.
chemical rubber, plastic, electronics
Cambodia’s real estate sector has
Factory premises are the foundation of
and paper.
been a key factor in the country’s
any such business, after all.
constant GDP growth of around 7%.
Most of the Kingdom’s factories are
Indeed, growth has hovered at this
According to the Ministry of Industry
located in the vicinity of Phnom Penh.
level for nearly a decade.
and Handicrafts, Cambodia’s industrial
However, they can be found across
sector employs nearly one million
the nation, in locations such as Preah
Currently, tourism, agriculture
people, 800,000 of which work in
Sihanouk, Kampong Speu, Kandal, Svay
and manufacturing all seem to be
garment factories. Of the 1,522
Rieng, Kampong Chhnang, Takeo and
pushing the demand for property and
registered factories operating in the
Kampong Cham provinces.
building in the Kingdom. Garment
country last year, over a thousand
manufacturing, which is a lynchpin of
were making garments. Secondary
As factories are built, the population
the country’s economy, is inextricably
industries included food and beverage,
in the nearby area grows along with
42
CAMBODIA REAL ESTATE 2018
EDI TO R I A L
economic activity and, in turn, real
the city to grow and expand in terms
claimed, adding that affordable real
estate values.
of infrastructure, housing, services
estate is pivotal for fostering the
and amenities,” he added. With a
growth of small- and medium-sized
James Whitehead, CEO of yula.la, Laos’
larger population, demand for food,
enterprises, especially on the outskirts
leading general classifieds website and
accommodation, entertainment and
of the city.
laorealestate.la, Laos’ first specialised
services also grows.
real estate portal, noted that Phnom
Sharing Seap’s view, Whitehead said
Penh hosts many of the Kingdom’s
Sorn Seap, founder and CEO of
that garment factories mainly impact
factories. Laos, in contrast, he said,
Cambodia’s Key Real Estate, said that
the market for low- and middle-tier
relies more heavily on hydropower and
garment factories have been essential
real estate.
natural resources. These industries
to the growth of the real estate sector. Bringing about positive changes
aren’t as labour intensive and don’t necessarily lead to urbanisation in
Seap elaborated on this connection
the capital of Vientiane. Cambodia’s
by saying that economic growth feeds
In the past few weeks there has been
garment industry, however, requires
the property sector. Growth, in turn, is
talk about the European Union (EU)
centralised labour.
mainly fuelled by manufacturing.
discontinuing the Kingdom’s dutyfree trade preferences under the
“The manufacturing sector has a huge
He explained that, in many cases,
Everything But Arms (EBA) pact. This
effect on real estate growth because
miniature economies sprouted up
has led to concern over whether the
many people come to urban areas
around factories. Food vendors and
real estate sector will take a hit in the
specifically to find work,” Whitehead
retailers often pop up in the area to
coming months.
said, adding that most of that growth is
cater to the vast amount of workers.
concentrated in Cambodia’s capital. “The huge number of people push
Commenting on this market shift, “It leads to huge demand for rental
Whitehead claimed it could shake
houses in the city’s suburbs,” Seap
up the market, but would ultimately
2018 CAMBODIA REAL ESTATE
43
ED I TORI AL
create positive change. He said that
polishing were two options that could
preferences, the garment sector will
jobs should evolve beyond low-skilled
prove fruitful.
take a hit, as will other export sectors.
economy by entering more lucrative
Further, the government can assist
Chou claimed that if a significant
segments of the market.
by creating more high-level industrial
number of investors closed their
plans so that opportunities in
factories in the country, there could be
Diving deeper, he said that Cambodian
these industries can be developed
a domino effect.
factories made most of their money
sustainably.
labour and bring more value to the
from low-level consumer products for
“Workers rent houses and their
the huge EU market. Moving toward
Seap echoed these claims, saying that
landlords have mortgages with the
high fashion items, or even electronics
tax preferences were, indeed, helpful.
banks. If there are no workers then
would require workers with more
However, education and development
landlords end up losing business,” he
education and more training. Shifts like
were important for creating growth
said.
this, he said, are already taking place in
within the country.
nearby Vietnam and China. Other predictions for the outcome of “[The sector] needs to boost the
EBA cancellation have been quite dire.
value chain and train staff for higher level manufacturing,” Whitehead said,
According to local media, economist
adding that electronics or diamond
Ngeth Chou said that, without tax
44
CAMBODIA REAL ESTATE 2018
View latest real estate news online at Realestate.com.kh
2018 CAMBODIA REAL ESTATE
45
46
CAMBODIA REAL ESTATE 2018
SOUTH EAST ASIA PROPERTY SERVICES PHNOM PENH St. 63, Corner 306, BKK1, (Across from Digbys’ restaurant)
023 214 322
OUR SERVICES
SIEM SEAP Along 7 Makakra Road (Near Hard Rock Cafe)
063 900 400
• SALE & RENTALS • CONDOMINIUMS
• BUSINESS SALES
• ESTATE AGENCY
• LAND SALES
• LAND HOLDING COMPANY SERVICES
• APARTMENT
• COMMERCIAL SALES
• ALL PROPERTY SERVICES
Siem Reap City Center
Psar Derm Krolanh - SR
This plot of Land lies at the Heart of Siem Reaps City center. The price sits at $750 per square meter at a total size of 3.04 hectares. The land can be built on for commercial purposes and comes with a hard title. Great location, Excellent secure Investment.
A well maintained 5 bedroom, 6 bathroom home located within minutes from the main city. Fully furnished and decorated with an eclectic mix of traditional khmer elements and modern conveniences with swimming pool and landscaped gardens. Parking also available.
PLOT LAND For Sale - $750/m2
Villa For Sale - $850,000$
Night Market Siem Reap
New International Airport coming
The property is very close to pub street and old market just behind Angkor night market. Surrounded by: Riverside, Tourist, Business, Market, Hospital, Restaurants etc.
15 Rooms boutique villa Rent - $2,500 per month Lease - $27,000 negotiable
ENQUIRES : 016 811 711
INFO@SEAPS.ASIA
Land For Sale: we are pleased to offer 20 pieces of land and more with the choice of various sizes available located less than 3 Km from the New coming International Airport now being Contructed in Siem Reap.
Land in the front can now be purchased in the region of 6 Usd pr Sqm to 20 Usd pr Sqm Land in the back ranges from 2 Usd to 7 Usd pr Sqm
WWW.SEAPS.ASIA 2 0 1 8 C A M B O D I A R E A L E S T A T E 47
ED I TORI AL
FIVE WAYS TO SPICE UP YOUR HOME DECOR WITH CHINESE FENG SHUI
The traditional Chinese practice
In a nutshell, feng shui is about way
let the sunlight into your living space.
of feng shui aims to harmonise
more than moving your sofa to the
Sunlight can lift your mood and reduce
individuals with their surrounding
other side of the room. You don’t
stress. It makes rooms feel open and
environment. Many Westerners
even need to buy anything to boost
free. Plus, getting a little bit more
incorrectly think this is just about
the energy of your own space. Here
vitamin D never hurts, right?
furniture arrangement. However,
are five main aspects of feng shui that
it’s much more than that.
can help bring a little ancient Chinese
Under traditional feng shui guidelines,
energy to your home:
sunlight was thought to ward off evil
Many believe proper feng shui can bring happiness and luck to any space,
spirits. 1. Sunlight 2. Colour
whether that be your home or working place.
Homes that follow traditional feng shui should take advantage of natural
Colour is another essential element
Throughout history feng shui has been
light as much as possible. After all,
of feng shui. Just like light, colour was
used to organise urban areas, parks,
electricity is a recent technology. In the
thought to affect the energy and flow of
homes and even tombs. Feng shui’s
past it was important to let the sunlight
a certain space. Of course, light colours
primary directives involve making
into your house so you could see.
have warming and lifting energy. On the
inhabitants feel refreshed and hopeful.
other hand, dark colours are believed to Now, however, it’s still important to
48
CAMBODIA REAL ESTATE 2018
be heavy and cold.
It is recommended that you use dark
they are in places where you see them
teaching of Marie Kondo from Japan
and light colours in combination to fit
in the morning.
who instructs her students to get rid of
the feeling of each room. The tones must be compatible. For instance, blue
anything that doesn’t “spark joy.” This 4. Air
idea jives with that of feng shui.
Have you ever complained that a room
Get to it
and white are two colours that are thought to look harmonic together.
feels too “stuffy”? Maybe there just This is one aspect of feng shui that is
wasn’t enough airflow.
already familiar to people in the West.
So, whether you ascribe to the ideas of feng shui or not, it’s undeniable
Decorators are already familiar with
In feng shui, having enough natural air
that rooms can have a certain mood.
complementary colours and clashing
movement is pivotal in bringing energy
Whether you’re moving into a new
colours.
to a space. Proponents of this practice
apartment or sprucing up your home,
say that fresh air contributes to the
use these methods to be more in tune
health of inhabitants and improves
with feng shui.
3. Plants
vitality. Plants play an important role in any home decoration. Indeed, a home that
5. Cleaning on a daily basis
follows the techniques of feng shui is no different. Plants are, of course,
Lastly, you may not know that
living organisms so the fact that they
cleanliness is a big part of feng shui. It
produce energy is undeniable.
is said that clutter and disrepair cause negative energy to enter a space. Try
Scientific studies have often supported
getting rid of anything unnecessary
the fact that rooms with plants feel
and reducing your possessions.
more relaxed and comfortable. In feng shui, plants are particularly powerful if
View latest real estate news online at Realestate.com.kh
Many in the US are following the
2018 CAMBODIA REAL ESTATE
49
LOC A TI ON P RO FILE
COMPETITION HEATING UP IN SIEM REAP HOTEL MARKET
New real estate developments have
Phin Vanna, CEO of Camglobe Realtor
centre in the area, and there is still
been shooting up across Siem Reap
in Siem Reap, noted that larger
untapped potential.
over the past few years. Indeed,
hotels—those with more than 100
the Kingdom’s main tourist draw
rooms—have seen a massive influx
“I am working to help foreigners invest
has seen a spate of new hotels,
of Asian tourists, especially Chinese
or rent hotel businesses in Siem Reap,”
boutique accommodations, guest
nationals.
Evans added.
year Mario Tan, sales and marketing
“Boutiques, guesthouses and
“There are many hotels featuring
director of Hunter Estate, claimed
homestays have not grown as fast as
many rooms across the city. Last year,
the number of tourist-centric
large-scale hotels,” Vanna said, adding
30 new boutique hotels were built
structures has surpassed 1,000.
that the number of Western visitors to
nearby Damnak pagoda. This brought
That is double what existed in the
the area has gone down by about 50%.
hundreds of new rooms to the
city just two years ago, he added.
The number of Chinese tourists, he
market,” he stressed.
houses and apartments. Earlier this
claimed, has doubled in recent years. It’s no surprise that the home of the
He mentioned that most groups from
Interestingly, Camglobe’s Vanna
Angkor Wat temple complex has seen
China come as a part of packaged
claimed that, prior to July’s national
such a massive demand for lodgings.
tours.
election, investor interest in hotels
According to Angkor Enterprise, the
saw a noticeable spike. Now, however,
custodial organisation for the park, the
Charles Evans, director of Siem Reap’s
renter and buyer demand has
number of visitors nearly hit 2.5 million
Cambodia Property Shop, said that
flattened out.
in 2017.
the hospitality sector is still front and
50
CAMBODIA REAL ESTATE 2018
“A 100 to 200 room hotel can be
still exceeding demand due to the
It offers 22 rooms on a 1,425 square
rented for between $50,000 to
number of new projects.
metre plot.
Growing competition isn’t the only
“We bring the unique feeling of living
challenge the sector is facing, either.
within the natural environment of Siem
Vanna, however, noted that majority
Phy Sophov, general manager of Ring
Reap,” Sophov claimed. He added that
[90%] of building owners prefer to sell
Boutique Hotel, said that owners need
they weren’t seeing as many foreign
the whole hotel rather than rent it out.
to stay in tune with the preferences of
visitors, but domestic tourist numbers
travellers. If they simply stick with the
at the hotel were up by 70%.
$100,000 per month, in accordance with its location and facility,” he added.
“A hotel with 100 to 250 rooms can
same business model, he said, they
sell for between $20 million and $60
will fail.
million,” he revealed. Cutthroat competition
Noting that keeping rooms affordable was pivotal to their business, Sophov
Sophov added that, despite growing
said that rooms could be had for
numbers, the market is in the midst
between $30 and $35 per night during
of a cooling down period. Large-scale
low season.
Of course, more options in Temple
luxury hotels have the most room for
Town means more competition.
growth, he claimed.
Commenting on this, Evans noted that
Camglobe’s Vanna noted that boutique hotels were popping up at nearly every
some hotel owners who aren’t able to
“The market is still relatively strong
generate enough income are shifting
and developers can profit as long as
their property over to long-term stays.
they bring something unique for their
“Four-star hotels in the area are
clients,” Sophov pointed out.
charging between $100 to $250 per
Choch Cho, founder and CEO of Siem
price point, however.
night. Many boutique hotels are also in
Reap Property Services, echoed the
Perhaps due to the falling number
claims that competition was getting
of Western visitors, many small
more fierce as new hotels emerge in
boutique hotels have suffered or even
the city.
closed over the past year. Sophov’s Ring Boutique Hotel, however, has
Cho explained that, although visitor
capitalised on the growing trend
numbers were on the rise, supply was
toward eco-friendly accommodations.
this market segment,” he said.
View property listings in Siem Reap at Realestate.com.kh
2018 CAMBODIA REAL ESTATE
51
ED I TORI AL
HOW TO START A BUSINESS IN CAMBODIA
This year’s World Bank Ease of
Michelle Brown, the founder of
reputation for being a place where
Doing Business report ranked
Kampot’s Bohemiaz Resort and Spa,
bribes are a part of the business
the country 185 out of 190 when
notes that she had a close friend
environment. To be sure, however,
it comes to starting a business
living in the country help with the
things are getting better day by day.
in Cambodia. However, many
initial process of starting a business in
Since many processes are quite slow,
foreigners are still attracted to
Cambodia. Her associate then came
business owners will sometimes
the Kingdom as a place to begin
on as a manager and helped find staff
pay unofficial fees to expedite them.
their journey as entrepreneurs.
when they opened in 2014.
Realestate.com.kh does not endorse
The report showed that it took an
any form of bribery and recommends
average of 99 days to complete all
Indeed, if you decide you want to
full compliance through official
the legal procedures to register an
try starting a business in Cambodia
channels only.
enterprise.
in either the food and beverage or hospitality sector, you can often
The sky’s the limit
It should be noted, however, that
find places that are already for sale.
there are a wealth of options other
Perhaps you want to start a bar,
Do you want to start a sole
than starting from the ground up.
guesthouse or restaurant. Just search
proprietorship or a partnership? What
Many people choose to join up with a
business for sale in Cambodia on our
licences will you need? Will you be
business that is already established.
site to check out options.
hiring workers? These are all questions
Others will hire a local fixer to help smooth the process of starting up an
you should be answering before you ‘Unofficial fees’
operation.
Legal has a handy guide on their Unfortunately, Cambodia still has a
52
CAMBODIA REAL ESTATE 2018
start the registration process. BNG website that you can use as a jumping
off point when you begin the process of starting a business in Cambodia.
that go into further detail. When the MoC process is complete you will only have two weeks to
Securing funding
In fact, it wouldn’t hurt to get legal
register as a taxpayer with the GDT.
advice from a lawyer in the country.
There you can either register for six
There are many different ways of
Just a short meeting can often be
months or one year as a taxpayer. The
getting the capital you need to initiate
indispensable for sending you in the
fee is $500 or $650, respectively. All
starting a business in Cambodia.
right direction.
documentation from the GDT is usually
Perhaps you want to scout out
completed in less than a month.
investors. Or maybe you want to raise
By the books
the money yourself or pool funds with The MLVT process can also be
a partner. Every industry will have
Before starting the registration
completed—at least in part—online.
different needs when it comes to initial
process you will need a valid business
Note also, that businesses will have to
investments.
visa, a local bank account with at
register for the National Social Security
least $1,000 deposited, a certificate
Fund here, dependent on how many
of health and a criminal background
employees they have.
check from your home country. Note
Finding your space One of the biggest attractions of
that you should open a bank account
Additionally, there are licences that
starting a business in Cambodia is the
with a bank where you can pay
will be needed. This depends on
affordable real estate here. What’s
government fees such as Acleda, FTB
the sector in which your business
more it can be easy to find a space for
or Canadia Bank.
operates. If you are starting a
sale that is already set up for what you
guesthouse or restaurant the Ministry
need. If you want to start a hotel just
After you have these materials it’s time
of Tourism will be where you go. These
search the listings on our site.
to start the government registration
licences usually need to be renewed
process. This process will take you
annually.
through the Ministry of Commerce
You can also find plenty of listings for office space.
(MoC), the General Department of
Paying salary tax, profit tax and value-
Taxation (GDT) and the Ministry of
added tax (VAT) is done by the 20th
Looking for a place with everything
Labor and Vocational Training (MLVT).
of each month. If you need a deeper
you need can sometimes be difficult.
Luckily, much of the MoC process can
dive into the registration process, B2B
We recommend consulting the expert
be completed online.
Cambodia has some great resources
assistance of a real estate agent. They
2018 CAMBODIA REAL ESTATE
53
ED I TORI AL
can help you zero in on what you
In general, you get what you pay for.
BritCham and EuroCham. Their
need.
Staff with higher skills and more job
sites have tons of resources and
prospects will command a higher
their events are a great place for
Of course, if your operation is small
wage. The best way to settle on a
networking.
you can look at coworking spaces.
fair salary is to do plenty of research.
These are becoming more and more
Find out what similar positions in the
More informal networks can be found
popular in the country and can be an
country are offering.
in groups on Facebook and other
affordable way to get started quickly.
social media. Finding like-minded Staff retention is one of the biggest
individuals will help while you are
problems you could encounter after
starting a business in Cambodia.
starting a business in Cambodia. It’s
You will eventually get to know other
Hiring staff members is a long
vital to find the right workers, invest
business owners in the area and it
and intimate process. However, if
in them and build a strong workplace
can be good to show support for each
it is done right your business will
culture. You can use a staffing agency,
other. After all, everyone benefits from
reap the rewards. The Kingdom is
job site such as BongThom.com
a growing economy, right?
disproportionately young, so take this
or ask for recommendations from
into consideration. A job with the right
trusted friends. If you plan ahead and
salary and a possibility of advancement
emphasise thorough training you and
will, hopefully, generate lots of interest.
your staff will succeed.
Hiring workers
Make it big by marketing So you’ve set up your business and hired a staff. Now it’s time to get a
Training can be absolutely pivotal for
Commenting on the rewards and
solid customer base. Marketing in Asia
new employees. Don’t let the cultural
challenges of hiring a local staff,
is quite different from marketing in the
divide get in the way, either. If your
Bohemiaz’s Michelle Brown said that
West. In Cambodia, Facebook is king
enterprise is big enough, definitely
seeing her employees grow has been
and most people have smartphones
consider hiring a professional HR
one of the most exciting parts of her
but not necessarily a computer. Ads
manager that can solve any staffing
experience after starting a business in
that might seem old-fashioned such as
issues.
Cambodia.
tuk-tuk signs, radio ads or billboards can be very successful here.
Cambodian offices are usually open
“It just took some time to adjust to
for 40 hours a week, but many also
learning how to communicate … the
There are tons of events going on
work Saturday mornings as well to hit
most rewarding thing about what I
across the country where you can
45 hours a week. The Kingdom has a
have created at Bohemiaz isn’t the
spread the word about your business.
whopping 28 days of public holiday a
development of the resort but seeing
Expos and trade shows go on all the
year. Many businesses are starting to
the young girls I employed four years
time for sectors ranging from real
move towards a less holiday-intensive
ago blossom into amazing young
estate and construction to cosmetics
schedule, but compromises often
ladies with real career aspirations and
and travel. Get your brand out there!
need to be made. Family is a very
desire to travel and learn,” she said. Avoid the common pitfalls
important aspect in Khmer culture. Some businesses also choose to add
Plug into your network
one workday every month to make up for the holidays.
Just like in any other country there are Fellow business owners can be some
difficult parts to starting a business
of the best resources for advice. There
in Cambodia. You can learn from the
Benefits and health insurance are on
are already tons of organisations in
mistakes of others, however, and come
the rise in Cambodia. However, salary
the country where you can connect
out ahead.
is still one of the most important
with entrepreneurs from your country.
factors for new hires. There is no hard
Check out the American Chamber of
One of the biggest tips you hear from
and fast rule for Cambodian wages.
Commerce in Cambodia (AmCham),
entrepreneurs is to surround yourself
54
CAMBODIA REAL ESTATE 2018
EDI TO R I A L
with people you trust. Whether it’s
Brown mentioned that one of the
Don’t forget that Realestate.com.
business partners, staff or landlords,
biggest challenges she has faced
kh can help you nearly every step of
only rely on people who you truly have
has been with bank and government
the way, either. Besides helping you
faith in. Your business should be like
contracts. She urged business owners
find real estate, our news section can
your child. After all, you wouldn’t let
to be totally sure of all the details
keep you up to date on the sector.
just anyone off the street babysit for
before signing on the dotted line.
Additionally, we have other guides like
you, right?
this one that can help educate you and “Initially it was also difficult to get a
Make sure you plan ahead. Do your
regular supply of imported products,
research. Talk to experts. Ask lots
however in the last couple of years
and lots of questions. There is no
the supply chain has vastly improved
such thing as too much preparation.
and the range of western products in
Calculate everything out and have a
Kampot is now amazing,” she added.
improve your skills.
plan in case it all goes wrong. You will thank yourself later.
May the force be with you
Lastly, and perhaps most importantly,
Growing a successful business isn’t
stay flexible. Remember, Cambodia is
easy. It definitely is possible, however.
still a developing nation. There will be
If you work hard you will have
setbacks and there will be headaches.
something to show for it. Surely you
If you can roll with the punches you will
will learn loads about yourself and
be that much better off.
about this wonderful country.
View all of Realestate.com.kh’s guides, covering everything from investment to taxes
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EVE NT RECAP
REALESTATE.COM.KH’S HOME&LIFESTYLE EXPO D R AW S O V E R 2 0 , 0 0 0
Over 20,000 people descended upon
market. Borey developers were there,
sales that will smash their yearly sales
Koh Pich on the weekend of April 26
as were condo developers, plot land
quotas.
and 27, many of them putting down
dealers, agencies, lawyers, banks,
big money for condos, borey homes,
construction firms and architects.
land or cars at Realestate.com.kh’s
Affordable properties were the focus of the show, so it’s no surprise that
massive Home & Lifestyle Expo 2019.
There was also lifestyle luxury brands
middle-class Cambodians made up a
The company’s CEO claimed it was
there selling cars, watches, handbags,
large contingent of attendees.
their most successful event to date.
furniture and much more. Many were offering their biggest discounts of
“Around half of the attendees were
Taking place at Koh Pich Exhibition
the year. The event didn’t disappoint,
local,” said Realestate.com.kh CEO
Centre, the event hosted exhibitors
either. Many exhibitors were able to
Tom O’Sullivan, adding that the
from every section of the property
connect with quality buyers and book
remaining demographics were mostly
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Chinese and just a handful of other
sales at the show worth over $60,000
Carmaker Nissan reported that a lucky
international visitors.
combined.
buyer rode home in a new $50,000 luxury vehicle bought at the show.
“We really wanted to make the event
Worldbridge Homes hit the high notes
Honda, on the other hand, sold four
into a blockbuster weekend and we
during the expo as well. They sold nine
motorbikes for around $3,000 each.
were floored by the overwhelmingly
properties, raking in over $250,000.
Sofa Shop, a furniture retailer, sold
positive response. By all accounts,
eight pieces during the show worth
this was one of the biggest real estate
Local agency Pointer Property had an
nearly $10,000 combined.
gatherings that Southeast Asia has
exciting weekend as they recorded
Sales figures are still streaming in from
ever seen.”
four sales worth around $70,000 each.
the huge event. However, Realestate. com.kh hopes to surpass the record
Explosive sales
7 Residence hit it big with a single sale
from its previous event, which
of a unit worth half a million dollars.
generated around $30 million in sales.
in Phnom Penh’s Chak Angre Leu,
But sales weren’t the only way to judge
“This event proves that Cambodia’s
was particularly hot with real estate
the success of exhibitors. In fact, many
real estate sector is more alive than
shoppers. The group reportedly sold
collected hundreds of new sales leads
it’s ever been. Indeed, the future looks
40 units over the weekend worth over
that will continue to pay off throughout
bright,” said O’Sullivan.
$3.5 million combined.
the year. PHMK Real Estate, Capital
Arata Garden Residences was
Partners, Bred Bank, Royal Platinum,
Log on to Realestate.com.kh’s news
another hot ticket project on the
Air Apartments, Ohana Home Japan, La
blog to see more videos, photos and
weekend. Piloted by Creed Group, the
Bassac, RHB Bank, and Snowbell Hotel
highlights from the event.
development sold 12 properties at an
all left with over 100 red hot leads.
Urban Village, a development project
average price of just under $100,000 apiece.
The retail side of the show wasn’t
Top International Agent inked eight
without its heavy hitters either.
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F E A TURED AGENT
Key Real Estate
017 999 519 / 016 999 519
We are committed to consistently provide ethical professional and quality service to individual and corporate customers who seek high standard property valuation and other real estate consulting services with locally competitive price.
info@keyrealestate.com.kh
http://www.keyrealestate.com.kh/
Russey Keo (ID: 2496897)
Chbar Ampov (ID: 2493394)
All your options are open with this plot of land in Phnom Penh’s Russey Keo. The location is prime and transportation is ease. No matter what you want to do with the land it can be the perfect launchpad. Land For Sale - $1,700/m2 Land size - 648.50m2
Land here is a blank canvas. It’s ready to become anything you want it to be. Located in Chbar Ampov, this place is hard titled and has the potential for a whole range of possibilities. Transportation is easy and values are sure to rise as the city grows. Land For sale - $350 per sqm Land size - 41,580 sqm
Sen Sok (ID: 2496877)
Tuek Thla (ID: 2493393)
Sen Sok district is on everyone’s mind lately. This spacious villa is sure to raise in value as the area grows and becomes a bustling part of Phnom Penh. There’s room for parking and it’s hard title ready.
This two-story flat house in Sen Sok district is a great space in one of the hottest new areas of Phnom Penh. There are four rooms so it has endless possibilities. What’s more, the community has a safe and warm feeling.
Villa For Sale - $320,000
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Flat house For sale - $180,000
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Phnom Penh Thmey (ID:2530293)
Toul Songkae (ID: 2150711)
This gorgeous flat house is in a highdemand are of the city and is the perfect spot for a home or business. It’s comfortable and Sen Sok district will feel safe and secure. What’s more the price is super affordable for property of this kind!
Flat houses like this don’t come on the renter’s market every day. This place in Toul Sangke has heaps of room and parking space too! It a great spot for opening a business or raising a family. It’s a chance to improve your future.
Flat house For Sale - $240,000
Flat house For Rent - $6,000/month
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Phnom Penh Thmey (ID: 2551398)
Toul Songkae (ID: 2234994)
Finding a property that fits your situation isn’t always easy. This flat house in Sen Sok district has so many possibilities. You can run a business here, rent it out or even make it your home. A hard title will be ready for you and your dreams await. Flat house For Sale - $1,300,000
Finding the perfect apartment can be difficult. Luckily, this place is Toul Sangke can be yours to own, complete with a hard title. It’s fully furnished and there’s tons of space. It’s close to tons of amenities of the city, too. Apartment For sale - $225,000
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Tonle Bassac (ID: 2545355)
Stueng Meanchey (ID: 2553043)
What a sleek and elegant condo! This space is compact but has one-of-a-kind views and luxurious design. It’s in Tonle Bassac district so everything is right at the doorstep. This dream condo is for sale at an extremely affordable rate.
This spacious hard-titled property in Stung Meanchey is the perfect place to start a business. With street access you’ll have plenty of customers. It has four rooms and it’s perfect to customise any way you want.
Condo For Sale - $3,500 per sqm
Flat house For Sale - $580,000
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FE A T U R ED A GENT
Knight Frank
023 966 878
There’s a human element in the world of property that is too easily overlooked. At Knight Frank we build long-term relationships, which allow us to provide personalised, clear and excellent service on all areas of property in all key markets.
enquiry@kh.knightfrank.com
www.knightfrank.com.kh
Tonle Bassac (ID: KHRA160A)
Tonle Bassac (ID: KHRA143E)
Are you looking for high luxury in the centre of Phnom Penh? This Tonle Bassac condo has Italian furniture, top brand appliances and a comfortable design. There are two airy bedrooms, amazing skyline views and everything you need to start living in style. Condo For Sale - Price on application
This three-bedroom condo is the epitome of luxury. In fact, it won three awards in 2017 for its amazing design and style. It’s in one of the capital’s trendiest areas. The wood floor and gorgeous staircase will take your breath away.
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BKK1 (ID: KHRA189A) This luxurious one-bedroom apartment is right in the heart of BKK1. You’ll be surrounded by the best restaurants and cafes in the city. What’s more there’s a pool and gym in the building. Serviced Apartment For Rent - $1,500/month
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Condo For Rent - $2,800/month
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Toul Tum Poung 2 (ID: KHRA98) The wood finishes in this onebedroom apartment are sleek and modern. Residents have access to a large pool, and a fully-equipped gym. Russian Market is just down the road. There’s tons of banks, restaurants, conveniences stores and bars right out the door. Apartment For Rent - $800/month
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Tonle Bassac (ID: KHRA212)
BKK1 (ID: KHRA189B)
This two-bedroom apartment is fully furnished. It maximizes space and has stunning views of the river. The onsite parking means coming and going is easy. Tonle Bassac district is close to everything, tons of amenities are right out the door.
There’s tons of space at this BKK1 two-bedroom apartment. It’s full service and there’s a massive parking area as well as a pool and fitness centre. Deals this good go fast!
Apartment For rent - $1,800/month
Serviced Apartment For Rent - $2,500/month
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Tonle Bassac (ID: KHRA205A)
Chakto Mukh (ID: KHRA90)
This one-bedroom space is a place for a modern city dweller. The apartment has a minimal design. It includes amazing city views, housekeeping services, access to a pool, gym, spa, children’s playroom and 24/7 security.
Enjoy the perks of hotel-living right in your own home. This one-bedroom serviced apartment is in the centre of the city. It’s got a colonial style but modern furnishings. The building has a pool, gym and is close to all the landmarks of Phnom Penh. Service Apartment For Rent - $1,300/month
Apartment For rent - $1,200/month
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Daun Penh (ID: KHRA05)
Wat Phnom (ID: KHRA10A)
There is plenty of space at this one-bedroom apartment. It’s fully furnished and in a secure building in Daun Penh. Residents have access to a pool, gym and spa facilities. Central Market and tons of banks and restaurants are close by. Apartment For rent - $1,200/month
This serviced apartment just had a complete overhaul. It’s two bedrooms, and spacious floorplan are pure luxury. The building is in the CBD, too. There’s a pool, gym, café, restaurant, BBQ area and access to all the amenities of the city.
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Serviced Aparment For Rent - $2,400/month
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FEA TURED AGENT 023 727 077 www.ncmaxworld.com enquiries@ncmaxworld.com
Sihanoukville
Sen Sok
This two-hectare land is perfect for anyone wanting to get in to an action in Cambodia’s biggest boomtown. Many tourists are visiting into the coastal city of Sihanoukvile. This land comes with a casino license.
2 shop houses on the corner in NEW WORLD development near AEON 2.
Vacant land For Sale - $19,260,000
Shophouse For Sale - $800,000 (negotiable)
Chbar Ampov
Toul Kork
Do you want a shop house that feels modern and luxurious? Are you looking for a new home for your growing family? This place has all the aspects of family need. The rooms are spacious and comfortable.
This building is situated a prime corner with AAA tenants. Great investment.
Shophouse For Sale - $290,000
Office Building For Sale - $8,000,000
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Boeung Kak
Phnom Penh Thmey
Toul Kork is one of the most affluent areas of Phnom Penh and this condo will make you feel like you’re on top of the city. The spectacular view and designed modern. This place will surely bring you many happiness.
A luxurious villa like this only comes around once in your lifetime. Once you step your foot on the ground you will feel like you are on a vacation. There’s lush greenery everywhere and wood furnishings that give the distinct elegance.
Condo For Sale - $280,000
Villa For Sale - $800,000
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BKK 3
Sen Sok
This condo building has a high occupancy. It’s yeilding great income must-see property for investors.
This vacant of land is full of possibilities and can be the site for almost any project. Success is sure to come to whomever take advantage of this opportunity. Located near Aeon2 and Makro Shopping Center, this place has access to many new commercial activities.
Condo For Sale - $6,700,000
Land For Sale - $1,250 / m² Land size - 1,933 m²
Kampong Speu
Tonle Bassac
This 30-hectare plot sits right in the industrial heartland of Cambodia. It’s a perfect site for a new factory.
The condo offers a sweeping view of river. Tonle Bassac is one of the most bustling area of Phnom Penh. Value will be sure to rise steady.
Vacant land For Sale - $18/m2 Land size - 30 hectares
Condo For Sale - $166,887
FE A TU R ED A GENT 023 727 077 www.ncmaxworld.com enquiries@ncmaxworld.com
Central Market
Central Market
This hotel is for rent in a prime location adjacent to the capital’s Central Market. Many Attractions nearby, restaurants, banks, shops and café all within walking distance. Occupancy rates are constantly at nearly 90%.
The tourist industry in Cambodia is exploding. This is your chance to make your success with a rental hotel building in the center of the city. For a low monthly rent fee, you can manage this property and start turning into a profitable operation almost immediately. Hotel For Sale - $19,500/moth
Hotel For Rent - $18,000/month
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Sen Sok
Monivong Blvd.
This is one of a kind opportunity for any business owner. These are 4 connected shop houses combined as one building usage up for rent right next to AEON2 complex. Sen Sok district.
This building is located on prime corner location. Just right off Monivong Boulevard, there are many potential for businesses and offer a high demand. The property contains 20 rooms.
4 Shophouses For Rent - $10,000/month
4 Shophouses For Rent - $12,000/month
20
Sen Sok
BKK 2
This shop houses is for rent. In a short walking distance from the Aeon2. Whether you want to live in a safe and secure area, or you are looking for a new business opportunity, this is the place for you.
Was it always your dream to start your own business? There’s no better time than now to start your plan and make your mark on the tourist industry. This 68-room hotel is located in the heart of Chamkamorn district. It’s right near all the major tourist areas. Hotel For Rent - $30,000/month
Shophouse For Rent - $1,000/month
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Sen Sok
Kampong Speu
This shop house can become your gateway to your future success! The property is located right next to AEON2. The ground floor shop will have steady flow of customers.
30 hectares vacant land in Kampongspeu Province for a long term lease. The property is fronting over 300m on 30m approved road.
Shophouse For Rent - $1,000/month
Vacant land For Rent - $0.066.67/m2 Land size - 30 hectares
Camko City
Central Market
Fully furnished top floor condo for rent in Camko City.
This beautiful property sits adjacent to Central Market and have 11 large size rooms. The options are unlimited. It could be used for business, for living or even for a hotel.
Condo For Rent - $2,000/month
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Villa For Rent - $4,000/month
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F E A TURED AGENT
Cambodia Properties Limited
023 555 5566
CPL provides a full range of real estate and valuation services to developers, owners, occupiers, investors, financial sectors and other relevant stakeholders.
info@cplagent.com
http://www.cplagent.com
Russey Keo
Tuek Tla
This flathouse for sale in Russey Keo is a wonderful family home. It’s got two bedrooms, three bathrooms and plenty of space for parking.
Here’s a residential plot in Sen Sok that’s available with a hard title. It’s close to markets, schools and other amenities.
Flat For Sale - $68,000 For rent $200/month
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Land For Sale - $99,500
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Sen Sok
Tuek Tla
Get started in real estate the simple way: This building for sale in Sen Sok is open to all the possibilities. Make your future real!
Massive hotel for sale in Sen Sok. This place has 60 bedrooms that span four storey. Start your hospitality business now!
Flat For Sale - $950,000 For Rent - $1,500/month
Hotel For Sale - $2,250,000 For rent - $5,000/month Land size - 947 Sqm
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Sen Sok
Por Sen Chey
What a bargain! This flathouse in Sen Sok can be your home and place of business. Call now as this one will go fast.
This flat for sale in Por Sen Chey district is a perfect spot for a business owner. It’s hard titled so the whole place will be yours. It is spacious and you can customize it for whatever you plan to do. Make your dreams a reality!
Flat For Sale - $195,999
Flat For Sale - $800,000
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Stueng Mean chey
The sky’s the limit with this 12,000 sqm plot in Phnom Penh’s Por Sen Chey district. Become a property mogul!
Meanchey district is the home of this plot of commercial land. Almost 3,000 sqm available. An amazing deal!
Commercial Land For Sale - $7,150,000 Land size - 2,860 Sqm
Sen Sok
Svay Rolum, Kandal
Hard titled land in Sen Sok for sale. Lot is 135 sqm and house is 88 sqm. Right across from sport complex.
A quaint family home for sale in Kandal district. Four bedrooms, three bathrooms and massive parking area. Visit today!
Land For Sale - $108,000
Flat For Sale - $150,000 Land size - 345 sqm
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Por Sen Chey
Land For Sale - $1,603,550 ($130/sqm) Land size - 12,355sqm
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FE A TU R ED A GENT
995 Home International Property Management Co.,Ltd.
011 582 688
Specializes in Property Rental Management
Info@995home.com
www.995home.com
BKK 3
Tonle Bassac
Here we have a one-bedroom apartment for sale in BKK3. The views are spectacular and furnishings are streamlined.
Rent this Tonle Bassac flat and live the high life! One bedroom, 13th floor views of the skyline.
Apartment For Sale - $155,617 ($2,551/sqm) Size - 61sqm
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Apartment For Rent - $750/month
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BKK 3
Tonle Bassac
This single-bedroom flat is for sale in a building full of amenities. It’s in BKK3 close to everything.
Here’s a one-bedroom flat for rent that will take your breath away! Sleek and modern with luxury features included.
Apartment For Sale - $158,893 ($2,604/sqm) Size - 61sqm
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Apartment For Rent - $750/month
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BKK 3
BKK 1
A perfect place for the modern urbanite! Two-bedroom apartment for sale in BKK3. Tons of luxury features in the building.
Beautiful two-bedroom apartment for rent in BKK1. Your friends will be jealous when they see you live here!
Apartment For Sale - $164,000 ($2,411/sqm) Size - 68sqm
Apartment For Rent - $1,000/month
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BKK 3
Chroy Changvar
Get this two-bedroom apartment now for an amazing deal. Buy and you’ll own property in bustling BKK3!
Rent this one-bedroom apartment in Chroy Changvar and you’ll truly live in style. Amazing furnishings and design. Amenities near by.
Apartment For Sale- $185,957 ($2,735/sqm) Size - 68sqm
Apartment For Rent - $500/month
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BKK 3
Chroy Changvar
Comfort is key at this BKK3 twobedroom apartment for sale. Fourth floor views are amazing!
Wow, that’s an awe-inspiring view. See what we mean at this gorgeous one-bedroom for rent in Chroy Changvar.
Apartment For Sale - $165,191 ($2,359/sqm) Size - 70sqm
Apartment For Rent - $500/month
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FEA TURED AGENT
South East Asia Property Services We can find the right property for you!
KHMER - 023 214 322 ENG - 016 811 711 www.seaps.asia enquiry@seaps.asia St. 63, Corner 306, BKK1, (Across from Digbys’ restaurant)
BKK 3
River Side
This is a fantastic opportunity to purchase a very profitable business finished to the highest possible standard.On completion, all 55 rooms were rented within 6 weeks and has been at full occupancy since opening 2 years ago. The property boasts a fantastic rooftop pool with sky bar, gym and steam room.
Offering 2 apartments on the 1st & 4th floor. Over looking the river front sisowath Quay. Entrance from the side of 136 street priced correctly for long term Lease
Service Apartment For Sale - $7,000,000
Apartments For Rent - $550/month
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Daun Penh Wat Phnom
Phsarkandal Doun Penh
well know established business Located on Rue De France. The garden area is lush and beautifully maintained and there is great parking fecilitys around the building on its own grounds
Shenanigans 30 Rooms including Apartments this busy Guesthouse well located the whole thing including fixture fittings its a going concern, profitable business. offering the option of a 1 to 5 year, Renewable contract with options.
Business For Sale - $650,000
Phsar Chas Wat Phnom
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Business For Rent - $11,000/month
BKK1
Nana bar st.104. Going concern including all fixtures & fittings. lease only 2 years but renewable, For any one intersted in buying a Bar this one is busy feel free to visit at any time. Business For Sale - $35,000
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Chreav - Siem Reap
The property has been designed as a Cambodia style peaceful retreat in a lush garden around. Its comes with fully furnished and equipped with antique furniture, and other modern amenities as well as a restaurant over looking the swimming pool. It take 5 minutes to pub street and night market. BOUTIQUE HOTEL For Freehold Sale - $300,000
Prasat Bakang - SR Small investments in Siem Reap Good size plots from 300 sqm 12m x 25m only 26 home sites offered for sale 10 min from siem reap tourism Centre. Here your buying plots in good location. Plots of Land For Sale - from $16,500
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Modern Office space available on the 1st floor st.63/306 above the Seaps office easy access offering short term rental arrangements Modern Office Space For Rent - $300-$600/month
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Siem Reap City
This beautiful hotel for rent is perfect option to own a business in Cambodia. Surroundings have a restaurant, school, hospital, business and other fecilities. This property comes with fully furnished with a mix of modern western inspired designs. Hotel For Rent - $6,500/month
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Kampot
Kampot Boat for rent moored on the busy riverfront, would make a great Bar / restaurants, needs decorating. Excellent Location must be seen
Boat For Rent - $1,200/month
FE A TU R ED A GENT
YI FUNG Real Estate Services
023 986 300
We offer an easy to navigate home search experience. Whether you are at home or on-the-go, we make it easy for you to access our property database
info@yifung.co
www.yifung.co
Sen Sok
Sen Sok
The land is adjacent to Aeon 2, Borey Peng Huoth, Borey Chib Mong and tons of condos. It is ideally located on a main road which runs through Phnom Penh. This land is perfect for condominiums or a shopping centre.
Office space here is within arm’s reach of the city’s airport. Transportation is a breeze. Banks, shops, retail outlets and restaurants are all right here. What’s more, management is great and there’s parking on site.
Corner Land For Sale - $1,000 per sqm Land Size: 1.7 hectare
Corner Office Space For Rent - $13 per sqm Size - 70 sqm - 2,000 sqm
Kampuchea Krom Blvd
Chroy Chongvar
Four link-house for sale with under market price with dimension 21m x 16m. You can enjoy the good taste of brand coffee and delicious food with few minutes drive to brand coffee shops, high class restaurants. Property good for office building or head office.
This beautiful iconic mixed-use building spans six floors. There are six bedrooms, a lift and tons of commercial space, too. It’s right in the busy area along National Road 6.
Shopfront For Sale - $1,800,000 Size - 339 sqm
Corner Building For Rent - $4,500/month
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Akreiy Ksatr
Duan Penh
This beautiful residence is situated along the Mekong and is built from tropical hardwood. It overlooks the cityscape, yet it’s a world away from downtown. The high ceiling, pool and garden all feel especially luxurious.
This luxury hotel in Daun Penh is now up for rent. The property is close to all the best capital outlets including Brown, Starbucks and tons of other restaurants and cafes. Standards here are high.
River front land For Sale - $1,000 per sqm size - 5,500 sqm in Title
City Hotel For Rent - $25,000/month
Chamkarmorn
Chamkarmorn
This ss one of the best investment opportunities currectly available in Phnom Penh’s Premier residential district which is BKK1 area. Located in a prime position close to array of retail, office space, hotel and residentail building. Dimension 36.43m x 33.9m.
This Villa comes with ample outside space for parking. it’s suitable both for group living or commercial use. Similar villas are regularly occupied by NGOs, embassies, and for a variety of other purposes. The location is desirable, being surrounded by affordable coffee shops,
Bkk1 Land For Sale - $6,800 per sqm size - 1,250 sqm
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Monivong Villa For Rent - $20,000/month
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Sen Sok
Duan Penh
This multi-purpose land along Russian Blvd is perfect for those looking to invest in a new development. There’s access to the main road and to the airport. Offices, boreys and hotels would be ideal hear and bring high returns. Dimension 65m x 65m
This comfortable condo is in the heart of Phnom Penh’s residential area. Here you will see the skyline from the 13th floor. It’s just one kilometre from the Royal Palace and is a smart choice for any owner.
Commercial Land For Sale - $2,800 per sqm Size - 4,100 sqm
Luxury Apartment For Rent - $600/month
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FE A TURE D AGENT
Lucky Property Services
012 623 398
Lucky Property Services (LPS) is a real estate company that specializes in renting, selling, buying and managing real estate and other properties.
info@luckypropertyservices.com
www.luckypropertyservices.com
Kep (ID: 4252)
Kampot (ID: 4301)
Kep is bound to be the next area that explodes with activity. This is a six-hectare plot with views of the ocean and mountains.
There’s nothing like the mountain views in Kampot. This 18-hectare lot is hard titled and will surely pay returns in the future.
Land For Sale - $15,000,000 ($250/sqm) Land Size - 6ha
Land For Sale - $360,000 Land size - 6,500 sqm
Toul Kork (ID: 4261)
Chroy Chongva (ID: 4145)
This block in Toul Kork has seven units for sale. All are modern and luxurious. Fully furnished with all amenities.
Options are endless for this 7,200 sqm lot right on the river in Chroy Changvar. This can be the perfect place for your business.
Apartment For Sale - $980,000 For Rent - $5,000/month Size - 200sqm
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Land For Sale - $11,000,000 ($2/sqm) Land size - 18ha
Chamkarmon (ID: 3941)
Chamkamon (ID: 3241)
A huge flat is now for sale in vibrant Tonle Bassac. With a soft title you can own this onebedroom oasis in the middle of the capital.
You could turn this huge Chamkarmon house into a business or residence. There are four bedrooms and one bathroom. Hard titled and unfurnished.
Flat For Sale - $120,000
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House For Sale - $6,500,000 Size - 7,200 sqm
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Toul Kork (ID: 4189)
Toul kork (ID: 4127)
Here’s your chance to become a property investor. This 20-bedroom building is for sale near Phsar Depo 3. Hard titled in bustling area of the city.
This modern Toul Kork villa boasts a pool, three bedrooms and four bathrooms. It’s hard titled and is a safe family home.
Building For Sale - $1,300,000
Villa For Sale - $1,800,000 Size - 462 sqm
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Kampot (ID: 3882)
Daun Penh (ID: 4214)
Kampot is one of the top tourist locations in Cambodia. Get this 6,500 sqm plot with hard title right off the river and you won’t regret it.
Here’s a four-unit apartment building for sale in Daun Penh. Full furnishings are sleek and modern. Get a hard title when you buy.
Land For Sale - $1,200,000
Apartment For Sale - $950,000
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FE A TU R ED A GENT
Daily Realty
077 747 000
We are the best, fastest, and most honest option to help you invest in the real estate sector.
www.daily-realty.com ravydaily@gmail.com
Chbar Ampov
Phnom Penh Thmey
This villa sits on 3,500m2 land. Located in Chbar Ampov, Phnom Penh, it has 4 bedrooms, 4 bathrooms, and parking. Close to transport, food, etc. Price is negotiable.
This land is located along the main street. Is good for all kinds of businesses, office building showroom, condo, apartment, and other properties.
Villa For Sale - $550,000 (negotiable)
Land For Sale - $1,150/m2
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Chbar Ampov
Phnom Penh Thmey
This stunning villa for sale is located in Chbar Ampov, Phnom Penh. it has 8 bedrooms and 10 bathrooms. It also comes with a hard title.
This 650m2 land is ideally located close to schools, supermarkets, and other businesses. Excellent site to build condo, apartment, and other real properties.
Villa For Sale - $1,600,000
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Land For Sale - $650/m2
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AGENT DIRECTORY KNIGHT FRANK
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