Cambodia Real Estate Issue 5 2017

TABLE OF CONTENTS 10

THE SEAGATE SUITE Luxury development project adorns the beaches of Sihanoukville

16

TOURISM GROWTH TRENDS An analysis of the Kingdom’s booming tourist industry of 2017

20

ASCOTT’S FIRST SERVICED RESIDENCE A retail and residential hub in the heart of Phnom Penh

22

LET’S TALK AGENCY FEES Standard commission & valuation fees

24

SEAR A SPOR T’S SY ST E MS Considerations for bringing fitness into your home

28

PROJECT REGULATIONS ANNOUNCED Government announces new laws to improve development standards

32

BATTAMBANG: CAMBODIA’S RICE BOWL The crossroad province proves it’s rising real estate potential

34

POIPET PROVINCE WELCOMES INVESTORS From casino craze to a new construction catalyst

38

CAMBODIA REAL ESTATE SHOW 2 Over 20 million in sales at the Kingdom’s leading property expo

41

WHAT OUR CUSTOMERS SAY Our leading exhibitors have their say about the Cambodia Real Estate Show 2

42

FOREIGN PROPERTY OWNERSHIP

10

20

24

The ultimate guide to land titles and acquiring ownership in the Kingdom

52

SIHANOUKVILLE SOARS Chinese investment dominates the seaside province in 2017

56

SIEM REAP MEGA MALL Temple town to get a taste of international standard retail

62

FEATURED PROPERTIES Check out the hottest properties from Cambodia’s best agencies

78

AGENT DIRECTORY Get in touch with the professional agents across Cambodia

56

2017 CAMBODIA REAL ESTATE

5

LETTER FROM THE EDITOR

CREDITS Editor in Chief:

Dear Readers,

James Whitehead

Welcome to Issue 5 of the Cambodia

This comprehensive report, which will

Real Estate magazine. Once again, the

be released in both English and Chinese

Managing Editors:

team at Realestate.com.kh are proud

languages, covers a wide overview

Cheng Nara

to bring to our readers a selection of

of the market; including Cambodia

Carrie Sun

the finest property news, advice and

demographic and social profiles, key

Emma Simpson

information from across the Kingdom

industry

of Cambodia.

GDP & FDI growth trends, Sino-

Contributing Writers:

Cambodian relations, political situation,

Ky Kosal

And excitingly, for the first time in our

infrastructural developments, property

Vat Vin

history, we are bringing the magazine

ownership laws and regulations, tax and

Cheng Nara

to you in two languages - both English

financing considerations for investors,

Emma Simpson

and Chinese. This follows the trend of

regional location profiles, investment

Carrie Sun

our online platform and applications

regulations and much more.

and

trading

partnerships,

Hong Cheng

- all of which are viewable in English, Khmer and Chinese - and also reflects

The

and

Art Director:

the

Chinese

Tourism Trends articles contained in

Parigna Heng

investors are currently having across

this issue of the magazine are a sneak

Jozel Ann Esguerra

the Cambodian real estate sphere.

preview of the full report, which is

major

influence

that

Foreign

Ownership

Law

available for download online on our In this issue, we have decided to take

website and app.

Sales & Marketing: Tyler Stuart

a look to some of the lesser known

Nin Kang

provinces of Cambodia and explore

Linda Sorn

the swift economic and real estate

Thanks for reading and we look forward

Su Mey

growth that these areas are exhibiting.

to the next issue of the Cambodia Real

San Limeng

We take a look at new destinations

Estate magazine in the coming months.

for savvy investors looking to get in

Publisher:

early before land prices climb; such as

Image Printing

Poipet, Battambang, Siem Reap and Sihanoukville.

Special Thanks: JAMES WHITEHEAD

Another standout feature of our fifth

The Realestate.com.kh Team

EDITOR-IN-CHIEF, REALESTATE.COM.KH

issue of the Cambodia Real Estate

For more information

magazine are two extracts from our

please contact us at:

soon-to-be-released Realestate.com.kh

info@realestate.com.kh

Cambodia Investment Guide 2018.

Browse almost 50,000 properties from over 150 agents and the leading property developers

+855 (0) 18 616 8888

LETTER FROM THE CEO

room saw a variety of industry leaders educating guests on topics such as ownership laws, tax considerations, developer best practices and much more - and for the first time in three languages: Khmer, English and Chinese.

Yet, despite how fast the market is growing, Realestate.com.kh is constantly looking for new ways to improve the efficiencies

Dear Valued Readers,

and professionalism of the industry as a whole. One way we With 2017 rapidly drawing to a close it is a great time to reflect

are doing this currently is the launch of the RealestateCRM

on what has been a major year for the growth of the real estate

system. This world-class technology, now optimized for the

industry as a whole in Cambodia. The strength of industry was

Cambodian market and fully functional in Khmer, English and

reflected recently at Realestate.com.kh’s second Cambodia

Chinese languages, allows agents and agencies to manage

Real Estate Show for 2017. This event on October 6th & 7th

their whole business with ease, speed and total accountability.

welcomed over 4000 local and international attendees to the

The RealestateCRM allows agency managers total oversight

NagaWorld Hotel in Phnom Penh - and ultimately resulted in

across their contacts, inquiries, property portfolio, team

over 20 million USD worth of property being sold by our clients

members activities and marketing successes and failures.

over the two day event.

We firmly believe that agents and agencies that utilize Both the first and second Cambodia Real Estate Show have

innovative technology such as the RealestateCRM will

been driven by two key motives: To provide a single event for

automatically have an advantage over competitors that still

both Cambodian home buyers and International investors to

manage their business with archaic practices.

view a large selection of property in one place; and, secondly, to provide a forum where property seekers can learn how to

Thanks again to all clients, partners and our website audience

make well-informed property investment decisions.

for your continued support. I hope you enjoy Issue 5 of the Cambodia Real Estate magazine.

The first objective was certainly achieved at the October show; as we had a huge range of properties on show, covering all property types and budgets. The show contained many leading borey developers, plot land projects, low, mid and high range condo developments, and even several international projects.

TOM O’SULLIVAN

Further, the second goal was also achieved; as our seminar

CEO, REALESTATE.COM.KH

WHO WE ARE 30

Established in 2009, Realestate.com.

property investors from all over the

team based in Phnom Penh who are

kh is Cambodia’s leading website for

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 018 616

price range. A lot of these users live

even help you do this. We have a

8888

in Cambodia; however, we also attract

dedicated expatriate and Cambodian

property buyers and sellers. We are Cambodia’s home of real estate.

FEA TURED P RO PERTY

THE SEAGATE SUITE WELCOME TO AFFORDABLE SEASIDE LUXURY

Dubbed the Kingdom’s new ‘boomtown’, Sihanoukville has established itself as a prime location for quality and affordable developments. Adorned with stunning beaches and home to Cambodia’s biggest Special Economic Zone, this coastal province is literally bursting with potential. KHCN Investment & Development Co. have seized this opportunity with the establishment of The SeaGate Suite. establishments. The developers have

number one developer, renowned for

Situated in a CBD area of the province,

fully taken into account the lifestyle

creating and innovating the perceived

The SeaGate Suite is the first and

needs of future owners and residents.

value of unique development quality.

This is through combining quality

only project at Victory Beach that will have both sea and city views. Residing

The vision of KHCN Investment &

construction, luxury amenities and

only 100 metres from the beach

Development Co. is an ongoing

affordability - in order to create an

itself, and surrounded by a variety

commitment to being locally and

enticing investment opportunity,

of hotels, entertainment and retail

internationally recognized as the

accessible to investors worldwide. That

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CAMBODIA REAL ESTATE 2017

FE A T U RED P R O P ER TY

vision has already started materialising, with construction commenced and scheduled for completion at the end of 2020.

The SeaGate Suite was designed by a famous Chinese architecture firm with a vast body of international experience in high quality mixeduse developments across the world.

Choosing an architect with a wealth of experience was critical for the developers, as their belief is that quality should always be a priority - to give prospective investors peace of mind that their investment is amongst international standards.

In total, the project will have 1,118 units across 43 storeys. Studio rooms range from 31.21 square meters to 70.12 square meters; and 1-bedroom units span from 60.15 square meters to 88.62 square meters.

The 2-bedroom units will measure approximately 113 square meters.

There will also be a variety of retail spaces available for sale and lease in this fully integrated lifestyle hub.

buyers. One of the key reasons for this

hotspot, and has experienced recent

is that the developers ensured that

land prices rises as high as 35-45% in

Luxury has been integrated into all

the launch was executed with absolute

key areas of the province. Due to this,

aspects of the amenities, including a

integrity - with all plans and permits

The SeaGate Suite gives buyers great

700-square-meter infinity pool, private

in place before going to the market.

potential to receive capital gain on

meeting hall, shopping center, fully-

This was to ensure that prospective

their investment after the project has

equipped gym, steam room, spa and

purchasers have peace of mind and

reached completion.

sauna, restaurants, a business center,

security that their investment will

helipad on the roof- and many more

be completed. KHCN Investment &

With a development that epitomises

lifestyle features. The developers have

Development Co. also want to ensure

a luxury lifestyle and a competitive

also ensured that safety is paramount:

that all buyers, especially first time

price-tag, The SeaGate Suite is one

with 24/7 security and built-in features

buyers, have an opportunity to enter

investment opportunity not to be

such as smoke detectors, sprinklers,

the real estate market, with units

missed.

fire extinguishers, hose reels and an

starting from $49,999 USD, attractive

emergency sound alarm.

payment terms and a special discount for any outright buyers.

Only commencing sales six weeks ago, The SeaGate Suite has already

Ultimately, Sihanoukville continues to

received an overwhelming influx of

firmly establish itself as a development

View the full property details online at Realestate.com.kh.

2017 CAMBODIA REAL ESTATE

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CAMBODIA REAL ESTATE 2017

+855 78 755 755

2017 CAMBODIA REAL ESTATE

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CAMBODIA REAL ESTATE 2017

2017 CAMBODIA REAL ESTATE

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ED ITO R I AL

CAMBODIA TOURISM GROWTH TRENDS A N E X C E R P T F R O M T H E R E A L E S TAT E .C O M . K H CAMBODIA INVESTMENT GUIDE 2018 The following article is a short

2015 by Lonely Planet and this accolade

International arrivals nationwide continue

excerpt from the Realestate.com.kh

has majorly contributed to Cambodia’s

to grow consistently each year. This

Cambodia Investment Guide 2018.

international tourism boom since.

growth has been predominantly fuelled

[i]

The Realestate.com.kh Cambodia

by Asian tourists. However, arrivals from

Investment Guide contains the

International tourism figures at the end

Europe, North America and Australia are

most up to date information

of 2016 show over 5 million international

also growing steadily.[vii] Looking at 2017,

related to the Cambodian real

tourist arrivals for the year, with 2017

over 2.66 million international tourists

estate market and is the most

annual estimates reaching considerably

visited the Kingdom in the first six

comprehensive document for

beyond this. To put this level of growth

months, representing a 12.8% increase

prospective real estate investors

in perspective, ten years ago annual

compared to the same period last year.

currently available in the market.

tourist arrivals sat around the one million

[viii]

The full report covers a wide

mark - demonstrating that Cambodia’s

China and Laos rose dramatically in the

overview of the market; including

true potential as a tourist destination

first six months of the 2017, while those

Cambodia demographic and social

is only beginning to be realized.[iv] This

from Vietnam dropped to second on the

profiles, key industry and trading

is especially so, considering that Siem

list behind China.[ix]

partnerships, GDP & FDI growth

Reap & Phnom Penh have remained the

trends, Sino-Cambodian relations,

key centers for this growth to date - yet

The increase of arrivals from China is

political situation, infrastructural

destinations such as Sihanoukville and

of particular significance. From January

developments, property ownership

its surrounding islands, Kampot, Kep,

to July 2017, tourist arrivals from

laws and regulations, tax and

Kirirom National Park, Mondulkiri and

China rose 42.7% percent from the

financing considerations for

many other iconic destinations are still

same period in 2016, accounting for

investors, regional location

only beginning to see early-stage tourism

635,000 visitors into the Kingdom.[x] This

profiles, investment regulations

development.

increase can largely be attributed to the

[ii]

and much more.

Tourism Overview:

The number of tourist arrivals from

Government releasing their “China Ready Sihanoukville is of special note as it

for Cambodia Tourism’’ policy. This plan

experiencing a rapid influx of growth and

aims to increase annual Chinese tourists

development and represents Cambodia’s

visiting the the Kingdom to 2 million per

The tourism industry continues to

foremost seaside tourism destination.[v]

annum by 2020.[xi] The policy outlines

be one of the main pillars of annual

Heavy investment in tourism, gambling

the initial steps to be taken by the

economic growth in Cambodia, spurred

and related infrastructure is pouring into

Ministry of Tourism to facilitate Chinese

by a huge influx in visitors to the Angkor

the southern province. One of the major

tourism, including: encouraging the use

Wat temples of Siem Reap: a United

reasons for this growth is the expansion

of the Yuan currency, tailoring food and

Nation’s Economic, Scientific and Cultural

of Sihanoukville International Airport to

accomodation choices and providing

Organization (UNESCO) attraction.

include ongoing international flights from

Chinese signage and documents for visa

Angkor Wat was named the number

China, Vietnam and Malaysia.

processing.[xii]

one tourist attraction in the world in

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CAMBODIA REAL ESTATE 2017

[vi]

Source: Ministry of Tourism

Source: World Travel and Tourism Council

2 0 1 7 C A M BSource: O D I A RMinistry E A L E S of T ATourism T E 17

ED ITO R I AL

Tourism directly accounted for 12.2

now host international airports - with

major driving forces behind these

% of Cambodia’s GDP in 2016. This

a fourth in development in the coastal

domestic tourism increases.

is forecast to rise by 10.7% by the

province of Koh Kong.

[xvi]

close of 2017. This percentage largely

Another major initiative which will

encompasses economic activity

Further to this, an agreement has

continue to solidify the growth of

generated by industries such as: hotels,

been signed for a new airport to be

tourism in Cambodia - and particularly

travel agents, tourist targeted activities

constructed in Siem Reap that is

the influx of tourists from China - is the

and passenger transportation.[xiii] These

anticipated to be the nation’s largest yet,

“One Belt, One Road” policy initiative,

economic activities also accounted for

with construction commencing in 2018.

announced and funded by the Chinese

the generation of 988,000 jobs in 2016,

Completion of this airport will enable up

government since 2014. The policy’s

which is expected to rise by 9.1% in 2017

to 10 million arrivals per year to enter the

aim is to link Eurosia with Africa and

to 1,078,500 employed in the industry.

Kingdom through the province.

Oceania via two routes - one overland

[xvii]

This will account for 12.7% of the Kingdom’s total employment.

and the other maritime. In a nutshell, Domestic tourism is concurrently

One Belt, One Road is a long-term

rising, with statistics showing a growth

strategy with the goal of enhancing

Cambodia has increased the number

of between 5% and 7% per annum.

infrastructure, trade, finance and people-

of direct air routes which connect

This has resulted in domestic tourists

to-people connectivity between the

the region to the rest of the world.

numbers doubling over the last decade.

60 nations already participating. With

This growth has accounted for a total

[xviii]

2,704,367 international arrivals into

are estimated to reach the 10 million

major infrastructure initiative, and the

Cambodia’s airports in 2016.

mark, with these figures boosted by

nation’s strong economic and political

flight routes between Siem Reap, Phnom

many locals making multiple trips to Siem

ties with China, the tourism industry will

Penh and Sihanoukville are also growing

Reap, Sihanoukville and other key holiday

undoubtedly be a beneficiary once this

very quickly in the last few years to satisfy

destinations each year.[xix] Improvements

economic corridor is operational.

both international visitors and local

in infrastructure and road accessibility

demands, and three of these key cities

between the key provinces have been

[xiv]

[xv]

Domestic

By the end of 2017, domestic tourists

Cambodia within the epicentre of this

Ultimately, with statistics clearly

Source: Ministry of Tourism

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CAMBODIA REAL ESTATE 2017

EDI TO R I A L

demonstrating annual growth trends with little sign of slowing, it is likely that tourism will continue to be a catalyst in the Kingdom’s future economic development - particularly in terms of GDP and the employment of locals in this sector. With large scale infrastructure initiatives already underway, targeting both local and international accessibility, and the Government’s long term tourism policy framework continuously improving, it is only a matter of time before Cambodia’s full potential as a prime international tourism destination is truly realised.

The full 2018 report is available for download in English and Chinese languages on Realestate.com.kh

Endnotes [i] Business Insider, “Here is why Angkor Wat was named the best tourism attraction in the world’’: http://www.businessinsider.com/ [ii] “Cambodia Tourism Statistics Report 2007 ”: http://www.tourismcambodia.com/ [iii] “Cambodia Tourism Annual Statistics Report 2016”: http://www.tourismcambodia.com/ [iv] “Sihanoukville sees its’ Tourist Star Rising’’: http://www.phnompenhpost.com/ [v] “Bigger Airports for More Passengers”: http://www.khmertimeskh.com/ [vi] Ibid at [iii] [vii] Ministry of Tourism, “Tourism Statistics Report June 2017”: http://www.tourismcambodia.org/ [viii] Ibid. [ix] “Ibid. [x] “Tourism Arrivals on the Rise”: http://www.khmertimeskh.com/ [xi] “Government pushes China Ready Policy”: http://www.phnompenhpost.com/ [xii] Ibid. [xiii] World Travel and Tourism Council,”Travel and Tourism Economic Impact 2017”: https://www.wttc.org/ [xiv] Ibid [xv] Ibid at [iii] [xvi] “Koh Kong airport confirmed to begin construction in early 2018”: http://www.phnompenhpost.com/ [xvii] Ibid. [xviii] “Registration Tax”: http://www.tax.gov.kh/ [xix] Ibid. [xx]”Cambodian Property Titles”: http://ips-cambodia.com/ [xxi] Ibid. [xxii] Ibid at[ii] [xxiii] Ibid at[ii] [xxiv] Jinchen, Tian ”One Belt and One Road: Connecting China and the World”: https://www.mckinsey.com/

Source: Ministry of Tourism 2017 CAMBODIA REAL ESTATE

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F EA TURED P RO PERTY

ASCOTT OPENS ITS FIRST SERVICED RESIDENCE IN CAMBODIA

CASA Meridian Residence - Exterior

One-Bedroom Premier – Living Room

CASA Meridian Residence is the

Phnom Penh, as the property is

and strong international tourist

first international-class serviced

within minutes’ drive from an array of

arrivals. Ascott will be able to leverage

residence in the capital and

amenities such as the AEON shopping

first-mover advantage as we open our

economic hub Phnom Penh.

mall, international schools, conference

second property in the city - Somerset

and exhibition centres, embassies,

Norodom Phnom Penh in 2018.

Phnom Penh, 1 November 2017 -

premium offices, Jet’s Container

Casa Meridian Residence will provide

CapitaLand’s wholly-owned serviced

night market, and the entertainment

corporate travellers, expatriates

residence business unit, The Ascott

complex NAGA World.

and their families a balanced living

Limited (Ascott), has today opened its

experience, the comfort of home and

first serviced residence in Cambodia,

Ms Lew Yen Ping, Ascott’s Country

Ascott’s signature hospitality by our

CASA Meridian Residence, in Phnom

General Manager for Vietnam who

well-trained team.”

Penh’s up-and-coming residential

oversees the company’s expansion

and retail hub of Diamond Island

in Cambodia, Myanmar and Laos,

Ms Lew added: “With our entry into

(Koh Pich). CASA Meridian Residence

said: “Ascott has built a strong brand

Cambodia, Ascott is now present in

offers 75 fully-furnished residences

reputation and expertise in managing

nine out of 10 countries in ASEAN,

on the top 13 floors of the 34-storey

world-class serviced residences over

giving us a strong foothold in the

integrated development CASA by

the last 30 years. We expect significant

region. ASEAN member states recently

Meridian, which also comprises a

demand for our first property in

signed pacts to boost transport links to

high-end shopping mall, premium

Cambodia, CASA Meridian Residence,

make it easier for cross-border travel.

office spaces and wellness facilities.

as it is the first international-standard

With greater connectivity, business

The serviced residence provides

serviced residence in the country’s

activities and investment are expected

unparalleled conveniences to travellers

capital and economic hub Phnom

to increase, driving demand for

and expatriates who value a balanced

Penh. In addition, Cambodia has

serviced residences. We will continue

lifestyle in the heart of the capital

achieved sustained economic progress

to explore opportunities to grow

20

CAMBODIA REAL ESTATE 2017

FE A T U R ED P R O P ER TY

Awards 2016 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2016 for ‘Best Serviced Residence Brand’.

About CapitaLand Limited Two-Bedroom Deluxe – Bedroom

Swimming Pool

CapitaLand is one of Asia’s largest real Ascott’s presence in Cambodia and

About The Ascott Limited

estate companies. Headquartered and listed in Singapore, it is an owner

other ASEAN markets to reap benefits from greater economies of scale and

The Ascott Limited is a Singapore

and manager of a global portfolio

expand our network of properties for

based company that has grown to

worth more than S$80 billion as at

customers.”

be one of the leading international

30 June 2017, comprising integrated

serviced residence owner-operators.

developments, shopping malls,

It has over 43,000 operating serviced

serviced residences, offices, homes,

residence units in key cities of the

real estate investment trusts (REITs)

Americas, Asia Pacific, Europe and the

and funds. Present across more

Middle East, as well as over 26,000

than 150 cities in over 30 countries,

units which are under development,

the Group focuses on Singapore

making a total of close to 70,000 units

and China as core markets, while it

in over 500 properties. The company’s

continues to expand in markets such

brands include Ascott, Citadines,

as Vietnam and Indonesia.

CASA Meridian Residence provides a wide selection of apartments between levels 22 and 34 across two towers.

These range from cleverly designed studio apartments ideal for single executives travelling for business, to sleek and modern one-, two- or three-bedroom apartments that can comfortably accommodate up to six persons. Every apartment features contemporary furnishings, well-defined

Somerset, Quest, The Crest Collection, and lyf. Ascott’s portfolio spans

CapitaLand’s competitive advantage

more than 120 cities across over 30

is its significant asset base and

countries.

extensive market network. Coupled

living and dining areas, as well as fully-

with extensive design, development

equipped kitchen.

Ascott, a wholly owned subsidiary

and operational capabilities, the Group

Residents can also enjoy a

of CapitaLand Limited, pioneered

develops and manages high-quality

comprehensive range of lifestyle

Asia Pacific’s first international-class

real estate products and services. It

facilities including an infinity

serviced residence with the opening of

also has one of the largest investment

swimming pool, children’s wading

The Ascott Singapore in 1984. Today,

management businesses in Asia and a

pool, jacuzzi, indoor playroom, yoga

the company boasts over 30 years

stable of five REITs listed in Singapore

room, sauna, club house, and fully-

of industry track record and award-

and Malaysia – CapitaLand Mall Trust,

equipped gymnasium as well as

winning serviced residence brands

CapitaLand Commercial Trust, Ascott

business support amenities such as a

that enjoy recognition worldwide.

Residence Trust, CapitaLand Retail

conference room, meeting room, and serviced offices for rental.

To celebrate the opening of CASA Meridian Residence, Ascott is offering special introductory rates starting from USD 1,150+ per month from now until 31 December 2017.

For reservations or more information please visit: www.the-ascott.com,

China Trust and CapitaLand Malaysia Ascott’s achievements have been

Mall Trust.

recognised internationally. Recent awards include World Travel Awards

Visit www.capitaland.com for more

2017 for ‘Leading Serviced Apartment

information.

Brand’ in Asia and Europe; DestinAsian Readers’ Choice Awards 2017 for ‘Best

For a full list of awards, please visit

Serviced Residence Brand’; TTG China

www.the-ascott.com/ascottlimited/

Travel Awards 2017 for ‘Best Serviced

awards.

Residence Operator in China’; Business Traveller Asia-Pacific Awards 2017 for ‘Best Serviced Residence Brand’;

call +855-23-972888

Business Traveller Middle East Awards

or email: enquiry.phnompenh@the-ascott.com.

2016 for ‘Best Serviced Apartment

View the full property details at Realestate.com.kh

Company’; Business Traveller UK 2017 CAMBODIA REAL ESTATE

21

ED I TORI AL

OFFICIAL COMMISSION & VALUATION FEES T H AT A P P LY W H E N S E L L I N G O R R E N T I N G Y O U R PROPERTY IN CAMBODIA

When you sell or rent your home, you need a valuation service from a professional agent to ascertain your home’s value - which involves paying an agent for these services. To ensure everyone gets a fair deal out of this process, The Ministry of Economy and Finance has taken direct measures to ensure that real estate operations run smoothly in the market and benefit both parties - agents and property owners. As a result the fees have now been regulated to exact figures. So if you are a property seller, this information relates directly to you!

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CAMBODIA REAL ESTATE 2017

EDI TO R I A L

Below is the necessary information

be charged to you at 0.050% or a

For example: You sign a tenant for a

you must know when buying, selling or

minimum of $2,000 for the valuation

4 year lease contract and your rental

renting a property through an agent in

report.

fee is $500 per month. Then you

Cambodia, thanks to Realestate.com.

• Property with a value between

can calculate the commission fee by:

kh:

$5,000,001 and $10,000,000 will

Adding 1 month’s rent ($500) + 25%

be charged to you at 0.030% or a

of the monthly rent ($125), multiplied

minimum of $1,500.

by 4 ($500) [the lease period] which

• If the property has a value above

equals $1000. This $1000 is the fee

On the 7th of September 2017, the

$10,000,000, you will be charged at

you need to pay to your agent for

Ministry of Economy and Finance

0.025% of property’s value.

finding you a tenant for 4 years.

Prakas No. 761: Purpose:

issued a new Prakas on service and commission fees for valuation and real estate services. The new Prakas is to educate real estate agents and sellers in Cambodia to: • Ensure the efficiency of management and check the charging of the commission fees and professional commission fee when offering valuation and real estate services.

• Ensure the equity and balance of interests between real estate firms and customers using valuation services.

• Maintain order in the real estate market through promoting competition with equality, transparency and fairness.

• Set the basic fee for charging commission fees and professional commission fees for valuation and real estate services.

However, some special properties - such as factories and business properties - have no set valuation fee. Instead, it depends on each case and the calculation formula in the pre-agreement between you and the valuation firm.

Commission Fee for Property Sales and Rentals: Agents will act on behalf of you for the sale of your property. In this situation, they will charge you the commission fee at a minimum of 3% of the total property’s value after the deal is completed. However, in some special cases, you can negotiate for a lower commission fee according to the Prakas.

Real Estate Agent Valuation versus Bank Valuation: Real estate agents are an independent entity that can offer an objective valuation of your home because they only work for the commission fee - and have no particular loyalty to the seller outside of that.

Some banks have established internal valuation teams to evaluate the client’s property if required. This might be a concern for sellers, as there is a danger that the bank might evaluate the client’s property below the market price - as it is concurrently being used as collateral for a loan. This represents a conflict of interest in some cases.

If you are renting your property

However, this depends on you as the

through an agent you also need to

property owner, whether you prefer to

pay a commission fee which depends

seek an independent and professional

on the leasing term. If the duration

valuation service - or agree to get a

When you sell your property and

of the lease is less than one year, the

valuation service from the bank for

need a valuation firm to define your

commission fee is negotiable and is

your property.

property’s value, these are the charges

defined by an agreement between

you should expect from your licensed

you and your agent. There is no fixed

The Ministry is planning to have

valuer:

commission fee in this scenario. If the

another meeting in the coming

• For a property that is valued below

rental term is for one year - you need

months, talking with both real estate

$100,000, you need to pay a valuation

to pay one month’s rental amount

agents and banks to add further clarity

fee of 0.17% or a minimum of $170.

as the commission fee. If they rent

on this issue.

• Property valued between $100,001

longer than one year, you need to

and $1,000,000 will be charged to you

pay a commission fee of one month

at 0.10% or a minimum of $900.

rent plus 25%, multiplied by the rental

• Property with value between

term.

Valuation Fees Expectations:

$1,000,001 and $5,000,000 will

Stay tuned to Realestate.com.kh/news for the latest regulations updates!

2017 CAMBODIA REAL ESTATE

23

A DVE RTO R IAL

HOME FITNESS CONSIDERATIONS

By George Foose, Executive Director

are constantly exposed to promotions

you want to sell or trade-up later.

Sports Engineering And Recreation

for this level of product. Higher priced

Quality also means better features,

Asia Co., Ltd.

but much more effective, safe, and

and programs that are equal or even

higher quality home fitness equipment

better than those found in the best

is generally found in specialty shops or

clubs. Quality means there is a better

health boutiques.

chance that the machine will not

When considering the purchase of

become a permanent clothes rack.

Home fitness has come a long way since the days of the old tummy belt or conveyer belt walking treadmill.

Today home fitness is a sophisticated industry with many layers of designs, manufacturers, and categories of equipment. In general, the industry’s offerings are divided into price sectors and consumer sophistication sectors. Lower priced and lower quality equipment is generally sold to what the industry calls “entry level” consumers. This segment is made up of first time home fitness buyers who can be tempted to impulse buy through TV marketing programs or department store sales programs. The “entry level” segment of the market is very large which explains why people

24

CAMBODIA REAL ESTATE 2017

home fitness equipment the three things to plan for are: 1) your budget,

Space

2) your space, and 3) your intended use and benefits you are looking for.

Depending on what your ultimate goal is space doesn’t have to be a limiting

Budget

factor. Nearly any condominium or apartment can support a single piece

As the introduction hinted at – always

of cardio vascular equipment. The

buy quality. If you can’t afford the cash

question to ask your self is how do

outlay use an extended payment plan.

I balance my intended use with the

Quality means buying from the leading

space I have to allocate for home

brands found in the best health clubs.

fitness? If you have an unused

Quality means better bio mechanics

bedroom you can probably create a

and ergo metric design. Quality means

complete home gym or share your

good warranties, after sales service,

home gym with a home office. If you

and a good secondary market should

are like most people however, you

A DV ER TO R I A L

will need to have your treadmill, cross

which have no impact and also provide

trainer or home gym near a form of

upper and lower body exercise.

distraction like a window with a view

Rowing machines are also excellent all

or within site of a television to provide

body conditioners.

exercise entertainment and get you motivated to get off of the sofa.

Personal Gyms and Multi Gyms

Intended Use

Personal gyms are single weight stack strength trainers allowing one person

Are you interested in exercising on

to exercise. Multi Gyms have two to

your own time? Do you just want to

four weight stacks and thus allow more

burn some fat between trips to the

than one person to use the machine

gym? Is the home going to be the

at the same time. Both types come in

primary place you exercise? Are you

different quality and price levels. Some

looking to strengthen and tone? Do

multi gyms are also warranted by the

you want to have a full body workout?

manufacture for sale into the common

Who else in your family will use the

area fitness centers of apartments,

equipment or the facility you make?

condominiums and resorts. This is

What ever the answers to these

generally a sign of a good robust

questions there are quality machines

commercial design ensuring safe use

to match your space and intended use.

and good bio mechanics and user

Remember if you can’t afford to build it

satisfaction. Some personal gyms

all at once, buy quality and phase your

offer advanced functional training or

home gym. If you are serious about

converging arc design technology.

investing in your health you will regret

The better quality personal gyms and

going the entry level route just so you

multi gyms will provide 20-22 different

can get everything at once.

exercises on all areas of the body with

Equipment Selection When selecting home fitness equipment you will be looking at three considerations.

Cardiovascular Training Equipment If you haven’t determined what is your favorite piece of cardiovascular equipment take your workout shoes with you when you look at equipment and try them all out. Generally in order of popularity cardiovascular home fitness equipment includes: treadmills, elliptical cross-trainers, upright or recumbent bikes, rowing machines, and stair-steppers. Many people who have developed leg problems have found a new lease on life through the

easy to use adjustments to change from one exercise to another.

Dumbbells, Benches and Free Weights A twin tier dumbbell rack and five to ten pair of rubber coated dumbbells along with a flat to inclined adjustable bench is a nice addition or alternative to a personal gym if budget or space is a problem. However most exercises done with this equipment is upper body specialization of the arms and back. Free Weights using Olympic bars and plate weights are

Email: info@searasports.com

not recommended for the home

Phone: +855 (0) 23 211 614

environment unless one always has a

Website: www.searasports.com

workout partner and a strong sound-

Address: #142, Camned Building 4/F,

proof floor.

Norodom Blvd., Khan Chamkarmon, Phnom Penh, Kingdom of Cambodia

development of the cross trainers

2017 CAMBODIA REAL ESTATE

25

info@searasports.com

www.searasports.com 26

Bangkok

Phuket

Pattaya

CAMBODIA REAL ESTATE 2017

Samui

Hua Hin

Ho Chi Minh City

tel: 02 185 1920-4

Hanoi

Phnom Penh

Yangon

Dhaka

E DI TOR IAL

MINISTRY OF ECONOMY DRAFTING LAW TO IMPROVE DEVELOPMENT L I C E N S I N G R E G U L AT I O N S

A new law is in the process of being

Through stricter monitoring of

some of the fraudulent dealings he

drafted by the Ministry of Economy

residential projects, as well as

has seen. One such example is of

and Finance which will restrict

strengthening of rules surrounding

companies that acquire loans from

the number of licenses that are

bank loans and deposits, the Ministry

banks by using their land as collateral.

issued for construction investment

of Economy and Finance believes they

In these cases, the company would

projects and real estate properties

can tackle and eliminate people from

announce the project and start selling

in the Kingdom. The new law aims

falling victim to real estate scams.

units prior to construction taking

to protect financiers of projects

place, in order to fund the project’s

from being defrauded by investors

Serey Peung, General Manager of

completion. In many cases the sale

and ensure that projects that are

Cambodia Angkor Real Estate, believes

of these units pre-construction have

granted licenses are completed on

that these rules would be good news

slowed down, which means that these

time.

for the industry- especially in light of

financers were “left in the lurch”.

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CAMBODIA REAL ESTATE 2017

EDI TO R I A L

Peung believes it’s critical that

law. Ultimately it is hoped that the law

that only those with real capital can

construction begins prior to the sales:

will encourage only those who have

invest in real property projects”.

“Don’t just announce the sales and

the financial means to invest in ‘’real

Okhna Ly Hour, head of the Cambodia

start selling - because it is very risky”.

property’’. The new law is expected to

Constructors Association, said in the

take effect by the end of 2017. Kim

past there were land plot salesmen

Presently the Ministry requires

Heang, President of the Cambodian

who would say the land is near Phnom

project owners to deposit 2 percent

Valuers and Estate Agents Association,

Penh and very cheap but would

of their capital investment in a local

stated that the new law has been

decline to mention exactly where

bank in the event that the project

in the works for almost four years

it was. The Ministry was concerned

is not completed. However the new

now and would not have any effect

about the risk, and that is why the new

law will strengthen and add to this

on those who adhere to transparent

law was drafted, he said, adding that

rule, by requiring transparency and

business practices.

the law was not a restriction, as it was

official guarantees from that bank and partners of the project.

designed to help buyers and sellers.

“The new law will help reduce the

“This is the care of the government for

amount of non-physical projects

the people, and we, the private sector,

As it stands there has been no

because there used to be companies

fully support this intervention,” he said.

decision on a new minimum deposit

using their land as collateral at the

needed by an investor - but this

bank and then announcing their

is set to be decided after further

projects for sale, and projects like

consultation with private sector

these are very risky,” he said. “This law

stakeholders, and development of the

is very good for society as it ensures

Interested in knowing more about Cambodia’s property laws? Check out Realestate.com.kh/news

2017 CAMBODIA REAL ESTATE

29

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CAMBODIA REAL ESTATE 2017

EDI TORIAL

BATTAMBANG: C A M B O D I A’ S RICE BOWL A N E W TA R G E T F O R B O R E Y D E V E L O P M E N T

Nestled in northwestern Cambodia,

a 19-hectare borey development,

This belief is one of the key reasons

Battambang, the leading rice-

which commenced construction in

Mr. Ear decided to commence

producing province of the country,

2015. In discussing his investment to

development of his residential borey

has shown some remarkable

local media, Mr. Ear expressed that

projects.

growth in real estate development

Battambang has great future potential

over the last few years. While the

because Government officials and

Mr. Ung Sangha, Representative

real estate market is traditionally

the Ministry of Tourism are working

Office Manager of Bonna Realty in

known for its’ colonial buildings,

together to turn the province into a

Battambang, reinforces Mr. Ear’s

over 11 residential borey projects

tourism hot-spot.

viewpoint by stating that, “Investors

have recently been developed with signs of many more to come.

cannot overlook Battambang’s Moreover, Mr. Ear believes that, “The

investment potential, as [Battambang]

province is rapidly developing and

is a big province, with relatively good

Mr. Ear Veng Mong, CEO of Borey

already has a lot of people within a

infrastructure, and a population of

Rom Chek in Battambang city, has

‘medium income bracket’ who are

over one million”.

invested over 30 million USD into

able to afford residential housing.”

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CAMBODIA REAL ESTATE 2017

EDI TO R I A L

However, Mr. Ung believes that the

business district. As a result of these

growth rate of 7 percent per year.”

local economy will need to continue to

competitive prices, more investors

Mr. Heng believes that due to the

grow in order for the majority of local

are conducting feasibility studies on

rising middle-income population,

residents to afford housing purchases

real estate potential in Battambang.

there will be high demand from

in the province.

Mr. Ung has confirmed that Bonna

Battambang locals in the near future

Realty has seen a major influx in the

looking to purchase a new home.

New infrastructure developments

amount of inquiries concerning land

are bringing more population traffic,

and property prices over the last six

However, Mr. Heng has already

including the new international

months.

enjoyed significant support from

border checkpoint in Battambang’s

locals, who have already purchased

Sampov Loun district - which connects

Battambang’s investment potential

land and houses for residential living

to Thailand’s Sa Kaeo province. This

has already attracted more cement

in his current projects. He elaborated

international checkpoint will allow

firms to establish operations, in

on the growth of his projects: “In 2015

for more cross-border trade and

response to the growing number of

we started with a total land size of 1.5

tourists passing through, which will

construction companies operating.

hectares, and two and a half years

lead to a boost of income for the local

The 230 million USD Battambang

later we have increased our projects

population.

Conch Cement project is set to begin

up to 20 hectares, with 200 flat

operation in December 2017.

houses, one market and one cinema.”

plans to expand more highways,

Further to this, Thailand’s Siam

Ultimately, Battambang’s real

connecting Battambang to Phnom

Cement Group has also announced

estate agents and investors alike

Penh and Banteay Meanchey over the

that it is preparing to open its third

are optimistic that the province will

coming years. The result will improve

cement plant in the province in

attract more local and international

accessibility and enable more trade

2018 - which will have a production

investors into the real estate market

within the province - which has an

capacity of 1.8 million tonnes a year

over the coming years. Active

economy that currently relies heavily

once operational.

improvements to infrastructure and

Further to this, the Government

on the agricultural industry and little else.

domestic connectivity will continue Mr. Heng Tola, a local investor, has

to boost investor’s overall confidence

been developing both residential

in an area which is bustling with

Despite Battambang’s real estate

and land projects in Taprouch Village

opportunity.

investment potential, land prices

in Sangkat Kdol Doun Teav since

do not show any sign of rising to

January 2015. Mr Heng elaborated on

the levels recorded in other key

his motivations citing; “The reason I

provinces, such as Sihanoukville and

invested in these projects is that our

Siem Reap.

country continues to have political stability, and an average economic

Learn more about new development hotspots on Realestate.com.kh today.

Mr. Ung explains that land prices in residential areas are between 60 to 120 USD per square meter, which he believes to be very affordable for local buyers. However, land prices in business areas are between 1,500 and 1,800 USD per square meter, and 1,800 and 2,200 USD per square meter in the commercial sector. This dramatic price contrast between residential and commercial areas demonstrates the increasing demand for land within Battambang’s central 2017 CAMBODIA REAL ESTATE

33

E DI TOR IAL

POIPET: F R O M G A M B L I N G H U B TO INDUSTRIAL BOOMTOWN

Poipet, hosting Cambodia’s main

Already, infrastructure improvements

development in recent times with

border crossing with Thailand,

are nearing completion, such as the

the establishment of more factories

is located between Siem Reap

railway link between Phnom Penh

and businesses”. Mr. Wong’s family

and Battambang and has gained

and Bangkok- via Poipet, which have

has invested in multiple businesses

its popularity as a cross-border

encouraged many people to move

in Poipet due to the town’s strategic

gambling destination.

to the town to pursue employment

location to Thailand, and believes that

opportunities. Once this railway link is

border trading between Cambodia

However, Government plans are

completed, border trade between the

and Thailand is already growing.

now in action to turn Poipet into an

two nations is expected to increase

industrial zone. It is believed that due

substantially.

to this - and the town’s convenient

The establishment of the Sanco Poipet Special Economic Zone (SEZ)

proximity to Thailand - investors will

Mr. Eric Wong, Administrator of the

in 2014 is one of the key reasons

seek opportunities to invest in the

website SkyscraperCity Cambodia

for this growth, and acts as a vital

town’s manufacturing sector.

stated: “Poipet has seen remarkable

economic trading gate between

34

CAMBODIA REAL ESTATE 2017

EDI TO R I A L

Cambodia and Thailand. Ms. Soeng

not seeing any signs of remarkable

in the 50,000-100,000 USD price

Sophary, a spokesperson for the

increase. However, Mr Sorn Seap, CEO

bracket being developed. Mr Sorn is

Ministry of Commerce commented

of Key Real Estate believes the prices

convinced there is serious potential

that: “Thailand is one of the Kingdom’s

are expected to rise once the railway

in real estate industry in the future,

main trading partners with both

project is finished and more industrial

due to increased employment

governments enjoying very close and

activity takes place. He elaborates:

opportunities from the existing SEZ,

amicable relations.’’ Sophary believes

“Currently land prices for residential

and the government’s industrial plans.

that due to these strong ties, cross-

projects in areas without construction

Ultimately, more demand for labour

border trade could increase to 15

are between 200 and 300 USD per

in the city will lead to a need for more

billion USD by 2020.

square meter, and in construction

residential housing.

dense areas is priced between 300 Ms. Sophary continued by stating that:

and 500 USD per square meter.” Mr

Once the railway project is completed

“The value of imports from Thailand

Sorn continued: “For commercial

in 2018, it is predicated by real estate

has decreased marginally, due to

areas or downtown Poipet, prices

agents and experts alike that the

the fact that more Thai investors

range anywhere between 500 and

increase of trade between Thailand

are building factories in Cambodia.

1,000 USD per square meter, while

and Cambodia will encourage a rapid

However, Cambodia’s exports to

the land price located along National

influx of investors building factories

Thailand have actually increased.”

Road 5 or close to the border can

in Poipet. This will have the flow on

She also believes that the new railway

reach up to 1,000 to 2,000 USD per

effects of boosting the local economy

will be a major catalyst for improving

square meter.”

and incomes across the board.

infrastructure and will aid both Cambodia and Thailand in reaching

Although residential property

their trade goals.

development isn’t seeing any drastic growth at present, Mr Sorn stated

In terms of Poipet’s real estate

he has seen a lot of progress,

market; land price is consistent and

with a handful of Borey projects

Learn more about new development hotspots on Realestate.com.kh today.

THAILAND

POIPET

SIEM REAP

BATTAMBANG

PHNOM PENH

GULF OF THAILAND

2017 CAMBODIA REAL ESTATE

35

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CAMBODIA REAL ESTATE 2017

2017 CAMBODIA REAL ESTATE

37

A D V ER TO R I A L

OVER $20 MILLION OF PROPERTY SOLD AT T H E C A M B O D I A R E A L E S TAT E S H O W 2 The Cambodia Real Estate Show

The show was made possible by

5 Developers sold 7 units, and 5 units

2, organised by Realestate.com.

sponsors VDB Loi, Homeloan.com.

of property respectively; and other

kh, welcomed over 4,000 local and

kh, Harvey Law Group and South East

developers such as Blue Bay, City Park,

international visitors and investors

Property Services Cambodia (SEAPS)

and Star City also converted several

through the Grand Ballroom doors

- and of course the event organiser,

sales during the show.

of NagaWorld Hotel on Friday the

Realestate.com.kh.

The event attracted a multinational

6th & Saturday the 7th of October.

The second Cambodia real estate show finished on the Saturday evening with a successful result for both developers and real estate buyers. Many local and international developers sold property during the two days, with an end result of 133 units sold and booked, and over 20 million USD spent.

38

CAMBODIA REAL ESTATE 2017

Leading the sales results was Prince

spread of attendees - with

Real Estate Group who sold 38 units

approximately 40% Chinese, 40%

of their Prince Modern Plaza and

Khmer, and 20% mixed international

Central Plaza condo developments;

guests. Free seminars on topics such

followed by Naki Group selling 6 units

as property law, tax and investment

and booking 32 in their various borey

advice were also available in Khmer,

projects. Renowned local developer

English and Chinese.

Orkide Villa also sold 14 units of their developments underway in the heart

One attendee of the show, who had

of Phnom Penh; Creed Group and Star

travelled from Hong Kong, said, “I

A DV ER TO R I A L

heard about it [the show] on the

Mr. Tony Yu, Marketing Manager at

internet. It was really good. What I

Orkide Villa, had a similar impression

have seen here was so much better

of the show: “We were very satisfied

than anything in Cambodia before.

to be a part of the second Cambodia

I have been to other exhibitions but

Real Estate show which enabled us

none were as comprehensive.”

to achieve direct sales.” Mr Yu also believes that the show benefited

Developers at the show also booked

both developers and buyers, and

site visits, showroom tours, and

encourages local developers to get on

gained hundreds of serious leads to

board for the next show- as Orkide

follow up in the coming weeks. Prize

Villa will likely join again.

draws over the two days saw buyers rewarded with air conditioning units

Prince Real Estate Group, who

from Hitachi, and ten buyers winning

achieved 38 unit sales over the two

a holiday getaway for two to Vkirirom

days as confirmed by their sales

Resort.

manager, now has their Prince Modern Plaza development mostly booked

Ms. Kelly, Deputy Sales & Marketing

following the show - and were pleased

Director at Creed Group, stated

with their result of leading the sales

that, “The show gathered a large

board at the end of the event.

number of potential buyers, there were even more developers, and

Blue Bay’s sales representative at

the show was bigger than before.”

the show commented of the quality

She also commented that the venue,

of the attendees at the show, stating

NagaWorld, was strategically located.

“We aimed to show our project to the

Creed Group’s 7 unit sales were across

buyers [and] this real estate show

two of their three projects; namely

was an excellent way to attract more

Bodaiju Residences and Arata Garden

buyers for our project. The visitors

Residences.

2017 CAMBODIA REAL ESTATE

39

A D VERTO RIAL

we had were quality buyers. Our two

Biz Khmer; Business Cambodia; Tranio

buyers were both Chinese.”

International Property; BTV & the Sin Chew Daily.

Reflecting on the show, Mr. Tom O’Sullivan, CEO of Realestate.com. kh - the show organiser, said that, “When investors from throughout the region arrived in Phnom Penh for our real estate show, they were able to feel, smell and touch Cambodia; they saw the drastic changes happening here in terms of construction and real estate development”. He continued that he was pleased with the fact that attendees have come to understand the infrastructural improvements that are presently happening which is transforming Cambodia into a ‘prime economic hub’ for investors.

Mr O’Sullivan believes that this insight is what gave so many the confidence to invest in property at the show, and going forward, in Cambodia.

Official Media Partners for the event were The Khmer Times; AEC News Today; Jian Hua Daily; Gold Zone Media; Grep Tech; B2B Cambodia; Angkor Today; The British Chamber of Commerce; The American Chamber of Commerce; The European Chamber of Commerce: Property Report; CVEA; CCA; Kampuchea Thmey; Cambonomist; Thmey Thmey; E-Link;

40

CAMBODIA REAL ESTATE 2017

Want to join our next Real Estate Show? Contact us at info@realestate.com.kh or call 018 616 8888 now!

WHAT OUR CUSTOMERS SAID ABOUT THE CAMBODIA REAL ESTATE SHOW 2

“The Cambodia Real Estate Show 2 was an important opportunity for us to sell our projects and to see how other developers sell - so we can learn from each other. On the first day alone, we booked nearly 30 units of Borey Ravana and 60 appointments to see the land. We generated over 200 leads in just one day”.

Tuon Rithy Michael, Chief Strategy Officer at Naki Group

‘’I am really appreciative of the Cambodia Real Estate Show. This show was very diverse; we have seen a variety of different projects and have all levels of buyers visiting our projects. We have had 3 sales and generated a lot of leads - around 65. I definitely recommend that other developers join the next show.’’

Alexander Evengroen, Chief Executive Officer at Star5 Developers

‘’The second show has been very successful. If the show is hosted again next year we will definitely consider joining it because this show benefits all real estate developers - regardless of whether they are international or national. Those who majorly benefit are the investors, buyers, and those who are looking into the real estate market in the future. As a local developer I would recommend the show to all developers in Cambodia.’’

Tony Yu, Marketing Manager at Orkide Villa

‘’We have received some good quality leads coming through and good prospective customers we can chase in the next few days. Many of our customers were very happy to see us back at the show. We recommend people to come along and encourage exhibitors to have a booth at the next show so they can continue to grow their business. The show has definitely been well worthwhile”.

Crispian Knowles, Manager of South East Asia Property Services (SEAPS Cambodia)

If you wish to advertise with us, contact: info@realestate. com.kh

2017 CAMBODIA REAL ESTATE

41

ED ITO R I AL

FOREIGN PROPERTY OWNERSHIP MECHANISMS A N E X C E R P T F R O M T H E R E A L E S TAT E .C O M . K H CAMBODIA INVESTMENT GUIDE 2018

The following article is a short

laws and regulations, tax and

Private ownership rights, however, will

excerpt from the Realestate.com.kh

financing considerations for

be protected when the landowner has

Cambodia Investment Guide 2018.

investors, regional location

formal proof of ownership; namely a land

The Realestate.com.kh Cambodia

profiles, investment regulations

certificate - more commonly known as a

Investment Guide contains the

and much more.

‘hard title’. Yet, the most common form

most up to date information

of ownership rights in the Kingdom are

related to the Cambodian real

Introduction to Cambodian

still ‘possessory rights’ - more commonly

estate market and is the most

Ownership Laws

known as a ‘soft title’. Absence of a hard

comprehensive document for

title places land occupiers in a vulnerable

prospective real estate investors

Under the legal statutes of the

position in regards to their rights to the

currently available in the market.

Cambodian Constitution 1993, and Land

land.[ii]

The full report covers a wide

Law of 2001, private ownership is an

overview of the market; including

interest which the state has a duty to

Ownership of property can now

Cambodia demographic and social

protect. Only in circumstances where

be secured by one of four forms of

profiles, key industry and trading

land subject to private ownership is

Cambodia land title, namely: hard

partnerships, GDP & FDI growth

deemed to be in the public interest does

title, soft title, LMAP title and private

trends, Sino-Cambodian relations,

the state have the right to interfere with

ownership in co-owned buildings (also

political situation, infrastructural

an individual’s private ownership rights.

known as strata title).

developments, property ownership

42

CAMBODIA REAL ESTATE 2017

[i]

EDI TO R I A L

We will now consider these types of

A hard title incurs a cost of approximately

or property and are generally respected.

titles in more detail and the various

4% of the property’s value to transfer.

Just like the hard title, however, it is illegal

mechanisms and methods in which

This will occur when transferring a

for a foreigner to own property under

foreigners can utilize such titles to

property from one owner to the next

this title.[vii]

acquire strong ownership rights over

- but also when converting a soft title

property in Cambodia.

to hard title status. This process takes

Local authorities can issue soft titles

approximately 12 weeks to process.[iv]

quickly (normally around 10 working days) and at a relatively low cost. They

Please note that Realestate.com.kh also firmly advise seeking independent and

It is illegal for foreign nationals to own

remain the most common form of

professional legal assistance before

a property under a hard title. However,

ownership in the Kingdom due to this

purchasing property in Cambodia via any

there are mechanisms that foreigners

ease and in order to avoid ownership

of the methods detailed.

can use to acquire these ownership

transfer taxes and fees.[viii]

rights which we will explore in more

Land Titles Defined

detail.[v]

Strata Title (Foreign Ownership of CoOwned Buildings)

Hard Title:

Soft Title: Strata Title Overview:

A hard title is a certificate of ownership

A soft title is form of customary

that is provided by the Ministry of Land

ownership in Cambodia which is now

In 2010, the Law on the Provision of

Management, Urban Planning and

being gradually outlawed. A soft title

Ownership Rights in Co-owned Buildings

Construction (MLMUPC) and is the

is registered at the Sangkat (council)

was passed - which was a first for

strongest form of property ownership

and Khan (district) level - and is not

allowing foreigners full ownership rights

available in Cambodia.[ii] Hard titles

registered at a national level. It is similar

over property in Cambodia despite the

contain comprehensive information

to ‘possessory rights’ offered in other

constitutional restriction. The 2010 law

regarding the ownership details and

jurisdictions.[vi]

change allowed for foreign ownership rights for units within co-owned

has been accordingly recognized and certified at a national level.

[iii]

Although soft titles are not registered at a

buildings, namely strata title ownership.

national level like a hard title, they are still

This law has since been commonly called

considered a possessory right to the land

‘the condo law’.[ix]

2017 CAMBODIA REAL ESTATE

43

ED ITO R I AL

The law was drafted in order to spur

Strata title allows foreign ownership of

name of the registered development

foreign investment into the Cambodian

up to 70% of the co-owned building,

company. However, once the hard title

property market and simultaneously

provided that foreigners purchase real

is issued, a developer cannot directly

accommodate the growing expatriate

property on the first floor or above.[x] To

transfer private unit ownership to

population looking to obtain ownership

be clear, foreigners cannot own ground

individual buyers. The developer must

rights over their residential and

floor units in a co-owned building. The

first transfer the total collection of strata

commercial properties in Cambodia.

remaining 30% of the building must be

titles into the developer’s name. This

owned by Cambodian citizen/s.

requires a public service fee for the

[xi]

Co-owned buildings are defined as a

conversion of the hard title into each

building in which several owners reside,

These ownership rights apply to

consisting of some areas that are the

buildings and structures which have a

exclusive ownership of each co-owner

strata title registered after the passing of

At this stage, the Land Department of

(private units) and some other areas that

the 2010 Law. For this reason, buildings

the Ministry of Land Management, Urban

are common spaces for the common

built prior to the law will not be strata title

Planning & Construction (MLMUPC)

use of all co-owners (common areas).

applicable. Further to this, any building

will also screen the common area

A co-owned building can be for

seeking strata title approval should not

regulations and practices. If the Land

commercial purposes, for example, an

be within 30 kilometers of any National

Department is satisfied that the co-

office tower, or for residential purposes

border.[xii]

owned areas will be correctly

[viii]

(a condo building); or a combination of the two. Strata title refers to the

managed and insured, then the strata Purchasing in a Strata Title Development:

certificate of ownership of an individual unit in a co-owned building.

[ix]

44

CAMBODIA REAL ESTATE 2017

strata unit.[xiii]

titles will be issued into the developer’s name.[xiv]

At the very first stage, the developer acquires the land that the development

Once these individual titles have been

will reside on with a hard title in the

approved and transferred into the

EDI TO R I A L

development company’s ownership,

The final strata titles are officially applied

who now has a freehold right to the

the developer can then proceed to

for once the units have completed

ownership of that property - whether

transferring these individual titles to the

construction and ready to be handed

they are a local or foreigner.

individual buyers.

over to purchasers. At this point, the final paperwork for the strata titles are

Land Management and

The strata titles’ are registered at the

submitted to the MLMUPC. All parties

Administration Project (LMAP title):

MLMUPC, which is the highest level

must be present in the country in front

of Government. To verify the legality

of the MLMUPC for the transfer to occur.

An additional title type available in

of the strata title before purchase,

This means that off-plan buyers will need

Cambodia is the “Land Management

prospective buyers should inspect both

to physically return to Cambodia for the

and Administration Project” title - more

the developer’s hard title and the master

final processing and handover of strata

commonly known as an ‘’LMAP’’ title.

development plan, and cross check

titles after the building is completed.

LMAP titles are the same as hard titles

[xvi]

these documents with the MLMUPC.

as they are registered at a national level Applicable Fees and Taxes for obtaining

Through the examination of these

(with a transfer fee of 4%).[xx]

a Strata Title:

documents, buyers can access key

Where an LMAP differs from a hard title

information such as the owner’s details,

There are two public service fees during

is than an LMAP has the addition of ‘geo-

specifics relating to the property and the

the strata title process: one for the

tagged points’. These GPS coordinates

title classification itself; to ensure they are

initial conversion of the hard title into

clearly identify the actual boundaries

fully informed about their investment.

each strata unit, and the other for each

of the property in question. Therefore,

individual strata title to be issued in the

LMAP titles are considered more reliable

buyer’s name.

than a hard title and may be valued

[xvii]

BUYERS’ ADVICE

The developer will

cover the first, the buyer will generally be

at a higher premium by the potential

responsible for the second.

purchaser. Any conflicts regarding the exact borders of the land are easily

Once the set of certified documents are

managed, as the GPS coordinates clearly

development needs to be built

reviewed and accepted by the MLMUPC,

mark which areas belong to you under

on hard-title property.

the exact same documentation with

the law.[xxi]

• Any legitimate strata title

other forms will be submitted to the • If a developer doesn’t possess

General Department of Taxation.[xviii]

a hard title, they will be

We will now look at the various mechanisms and methods in which

unable to apply to build a

After this submission, the tax officials

foreigners can utilize to obtain hard

legitimately recognized strata

will then issue an invoice with the

title ownership outside of the strata title

title development. This is a

amount of transfer tax to be paid by

framework. These mechanisms can allow

crucial element to inspect as a

the final title holder (the buyer). This is

foreigners to effectively own land, ground

prospective buyer, as foreigners

determined after their assessment of

floor and soft title properties:

are not allowed to own

the property value - which is based on

properties with a soft title.[xv]

their determined ranges and internal

Foreign Ownership via Company

calculation method. As noted above,

Structure:

• Sales and purchase agreements should also reference strata

the transfer tax is approximately 4% of

titles and co-ownership details.

the property’s value and the processing

One vehicle available to foreigners to

If there is no mention of these in

takes approximately 12 weeks.[xix]

purchase land or landed property is through a locally incorporated company.

the SPA, this should be a major red flag for buyers.

After the evidence from the General

A foreign entity may take an ownership

Department of Taxation that the tax has

interest in land through the formation

been paid by the buyer, the MLMUPC

of a company, provided that 51% of this

will complete the title transfer. The strata

company is owned by a Cambodian

title will then be issued to the new owner

citizen.[xxii]

2017 CAMBODIA REAL ESTATE

45

ED ITO R I AL

The costs of creating a landholding

Foreigners can also further protect their

company can be more expensive than

investment by forming two companies.

establishing other types of companies,

The Law of Investment allows for the

and with higher ongoing tax and

use of land to be permitted to investors,

administrative costs. However, for

including long term leases of up to 70

the large scale investor or property

years, which are also renewable.[xxvi]

developer, these costs may be

Therefore, property acquired by the

insignificant compared to the benefit of

original landholding company can

being able to freely purchase land and

then be leased to a second company

property of any kind in the Kingdom. This

(created and wholly owned by the foreign

also allows the company to purchase

investor).

property under any of the available land titles.[xxiii]

With a lease over the property acquired through the formation of this second

Despite the local partner having a

company, the foreign party can then

majority ownership of the company,

exercise long term control over their land

foreigners may opt to establish restrictive

through the shareholder agreement with

In recent history, it is not uncommon

contracts within the company structure

the Cambodian party. Another result of

for district officials (especially in Phnom

such as a power of attorney, proxies,

this is that the property will not be able

Penh) to issue soft titles to foreign

and shareholder agreements. These

to be sold without the consent of both

buyers. This practice meant that

mechanisms act as ‘safeguards’ of their

the lessee and lessor. Ultimately this

foreigners wishing to buy land, landed

investment and allows the foreigner

means any transaction in relation to the

houses or older houses that were not

practical control over the company and

land will need to be agreed to by the

eligible for a strata title were able to do

property - despite the local partner’s

foreign partners before any action can

so, although through a framework that

majority ownership.[xxiv]

take place.[xxvi]

in fact was not legally sound if it were tested in court.

For example: within a shareholders

Foreign Ownership through

agreement, two different classes of

Registering Real Property with a

Only FOUR SECURITIZATION

shares may be established - with

Cambodian Citizen

DOCUMENTS are needed to

different rights attached to each class.

(Nominee Structure):

initiate the nominee process:

This would enable the foreign and local party to have different rights within the

A nominee structure allows foreigners

shareholder agreement. The agreement

to purchase property in Cambodia

could be constructed in a way where the

by using a Cambodian citizen as a

local party has limited rights to transfer

nominee. This option is cheaper

shares, and any decisions relating

than alternative options such as the

to appointing directors or regarding

establishment of a landholding company

major company assets (such as land or

and allows foreigners to purchase older

property acquisition) would require a

buildings, land or other property that

majority (2 / 3) decision in order to be

does not qualify for strata title. It also

In 2016, this practice was firmly

passed. To put this in simplistic terms,

allows foreigners to purchase soft title

outlawed. As a result, the nominee

these mechanisms enable the ‘majority’

properties.[xxvii]

structure now offers the fastest and

• Mortgage agreement • Loan agreement • Lease agreement • Security agreement

cheapest means for foreigners to acquire

share held by the local party to be a formality which does not allow the local

Most commonly nominees are wives

party any unregulated control over

or partners of foreign investors, or a

the company, assets and other critical

representative of the local real estate

To put the process simply: the nominee

decisions.

agency or development firm.

structure involves the foreigner signing

[xxv]

these types of properties.[xxviii]

a trust agreement with the land or

46

CAMBODIA REAL ESTATE 2017

EDI TO R I A L

property owner.[xxix] The property is then

7 years of residency and demonstrating

mortgaged and leased to the foreign

knowledge of the Khmer language

buyer. This agreement between the

(amongst other requirements).[xxxvi]

parties is a mechanism for the foreign investor to exercise control over the

In order for citizenship to be granted

property and any transaction related

there must be a consensus from

to that property - while by law the

the Ministry of Interior, the Council

Cambodian citizen actually owns the

of Ministers, and the Prime Minister.

property.[xxx]

However, once the citizenship is granted, the foreigner will be able to own land

Once these documents are signed, the

and property in their own name. Further

agreement is legally binding and acts as

to this, the foreigner can apply for certain

security against the nominee trying to

concessions from the Government

liquidate your asset. Ultimately, having a

which are only available to Cambodian

trustworthy nominee is the key element

Nationals.[xxxvii]

with this option to ensure that the legal obligations are met by the local party.[xxxi]

Due to the benefits of citizenship, it has become common practice for

Foreigners should be aware that while

international companies to send

buying through a nominee is widely

delegates or representatives to

practiced by foreigners, and largely

Cambodia with the investment or

accepted by authorities in Cambodia,

donation figure (ahead of setting up their

by law it is illegal.[xxxii] If you have a

operations) to apply for citizenship in

significant falling out with your nominee

order to acquire the land or property on

and they then lobby a Cambodian court

behalf of the company.

to protect their legal interest over the property, the court may not respect your

Investing in Land through a Long-

nominee arrangements - and uphold the

Term Lease:

ownership of the local nominee.

[xxxiii]

Leasing land is a much easier and less

Foreign Ownership through

expensive than other ownership options

Cambodian Citizenship:

available to foreigners. However, this involves the registered title deed to

Cambodian citizenship by investment

remain under a Cambodian citizen’s

was introduced in 1996. The adoption

name, and of course doesn’t allow a

of the Law of Nationality

foreigner to resell the property for capital

[xxxiv]

made it

possible for foreigners to apply for

appreciation.[xxxviii]

Cambodian citizenship based on an investment figure of just over 300,000

For this process, both parties enter a

USD (1,250,000,000 KHR), or a non-

long-term rental agreement. Generally

refundable donation in the amount of

speaking these lease agreements last

249,000 USD (1,000,000,000 KHR).[xxxv]

for either 50 years, 70 years or 99 years. [xxxix]

Any leases lasting for longer than 15

Applying for citizenship with investor

years must be registered at the MLMUPC

status will waive the conventional

in order to be considered valid. Long

citizenship eligibility process, which

term leases contain the necessary rights

involves the foreigner possessing at least

to develop the land and gain the relevant construction permissions.

2017 CAMBODIA REAL ESTATE

47

ED ITO R I AL

One major drawback of leasing is that

generally sought by investors in relation

in the absence of full ownership the

to agriculture or exploitation ventures.

foreign investor may feel uncertainty

After these departments have approved the concession, the Office of the Prime

over the security of their property. They

A social land concession allows investors

Minister must sign and authorize the

may also feel limited by their rights to the

to construct residential projects and

Ministry of Agriculture to formally

property, which are more secure in other

cultivate state land.

investment structures.

concessions allow investors to clear land

The approximate timeframe to complete

for purposes of industrial or agricultural

the process and grant the concession is

[xlii]

Economic land

Investing in Land through

exploitation. These are granted through

Concessions:

50 year leases, which are subject to a

conclude the concession agreement.

The full 2018 report is available for download in English and Chinese languages on Realestate.com.kh.

singular right of renewal. 10,000 hectares In Cambodia, much of the land

is the maximum area for which a

remains state owned, given that The

concession can be granted.[xliii] Economic

Land Law of 2001 invalidated any land

land concessions are the type most often

titles established prior to 1979. As

sought after, and invariably granted.

[xl]

foreigners cannot own land outright, land concessions have conventionally been

The investor must then apply through

seen as the simplest form of obtaining

the Ministry of Agriculture for the

access to state owned land.

rights to their specific piece of land.

To qualify for an ECONOMIC LAND CONCESSION, a foreign investor must have all of the following:

Representatives from the Ministry of A land concession is a legal right for a

Agriculture, Ministry of Environment,

person or legal entity to occupy a piece

the Council for the Development of

of land and to exercise rights over that

Cambodia, the relevant provincial

land.[xli] This is established by either

Government, and the Ministry of

a legally binding contract, or issued

Commerce will also need to approve the

consent of the relevant Government

application. This includes considering

authority. The two key types are a social

any potential social and environmental

land concession and an economic

effects of the

land concession. Land concessions are

concession.[xlv]

• Presently reside in Cambodia to apply for the concession; • A registered company in the country; • A valid tax identification number; • An active local bank account. [xliv]

Endnotes

[x] Constitution of the Kingdom of

[xxi] Ibid.

[xxxv] Ibid, at [xxv]

[i] Constitution of the Kingdom of

Cambodia 1993, Article 44. http://www.

[xxii] ‘’Land”:

[xxxvi] Ibid

Cambodia 1993, Article 44. http://www.

opendevelopmentcambodia.net/

http://www.cambodiainvestment.gov.kh/

[xxxvii] “Investment Guide Cambodia:

opendevelopmentcambodia.net/; Land

[xi] Ibid.

[xxiii] VDB,LOI;’’Cambodia Market Entry

Immigration and Naturalisation, Chapter

Law 2001, Article 5.

[xii] “Opportunities for Foreign

Guide 2014”: http://www.vdb-loi.com/

15’’: https://www.dfdl.com/

[ii] Ibid

Investment in Multipurpose

[xxiv] Ibid.

[xxxviii] ’Bun and Associates, ‘Lease of

[iii] ‘’Land Tenure and Titling’’: https://

Developments in Cambodia”:

[xxv] Latitude 11 Phnom Penh, “Can

Immovable Property”

opendevelopmentcambodia.net/

http://www.vdb-loi.com/

Foreigners Own Land in Cambodia?”

http://www.bun-associates.com/

[iv] Ibid

[xiii] Scironi & Associates:

[xxvi] Law of Investment of the Kingdom

[xxxix] “How to Invest in land for

[v] Bun and Associates, ‘’Is it Safe

http://www.sa-asia.com/

of Cambodia 1994, Chapter 5, Article 14.

Foreigners: the Ultimate Guide”:

to Acquire Law with A Soft Title in

[xiv] Ibid, at [viii].

[xxvii] “Regulatory Framework for the

http://www.keyrealestate.com.kh/

Cambodia’’:

[xv] ‘’What kind of land titles are available

Land System in Cambodia”:

[xl] “Kingdom of Cambodia” Land Law

http://www.bun-associates.com/

in Cambodia?”:

http://www.cambodiainvestment.gov.kh/

2001, Articles 48-50.

[vi] Ibid

http://www.khmertimeskh.com/

[xxviii] “Nominee Structure for Foreign

[xli] “Concessions”:

[vii] ‘’Investment Guide Cambodia : Real

[xvi] “Law on Providing Ownership Rights

Buyers- How does it work?”: http://ips-

https://opendevelopmentcambodia.net/

Estate, Zoning, and Construction”:

in Co-owned Buildings’’, Chapter 5, Article

cambodia.com/nominee-structure/

[xlii] “ADHOC. 2013. “A Turning Point?:

https://www.dfdl.com/

19”:

[xxix] Ibid.

Land, Housing and Natural Resources

[viii] DFDL, ‘’Cambodia Pointer: Foreign

http://www.cambodiainvestment.gov.kh/

[xxx] Ibid

Rights in Cambodia in 2012”:

Ownership and Condominiums’’:

[xvii] B2B. “Construction and

[xxxi] “Property Purchase Process in

http://www.nachdenkseiten.de/

https://www.dfdl.com/

maintenance”: http://b2b-cambodia.com/

Cambodia”: http://maxemproperty.com/

[xliii] Ibid.

[ix] “Law on Providing Foreigners with

[xviii] ‘Registration Tax’”:

[xxxii] Ibid.

[xliv] “Sub Decree #146 on Economic

Ownership Rights in Private Units of Co-

http://www.tax.gov.kh/

[xxxiii] Ibid, at [xxv]

Land Concessions”:

Owned Buildings”: May 24, 2010, Chapter

[xix] Ibid.

[xxxiv] “The Compendium of Cambodian

http://www.cambodiainvestment.gov.kh/

1, Article 4

[xx]” Cambodian Property Titles”:

Laws, Volume 2 ‘Law of Nationality’’

[xlv] Sub-decree No.146 (2005), Article 3.

http://www.cambodiainvestment.gov.kh/

http://ips-cambodia.com/

https://www.wto.org/

2017 CAMBODIA REAL ESTATE

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076 768 9191/ 076 768 9090

2017 CAMBODIA REAL ESTATE

51

ED I TORI AL

CHINESE INVESTORS D O M I N AT E S I H A N O U K V I L L E ’ S R E A L E S TAT E M A R K E T

The positive relationship between

the goal of turning the province into

Based in the prime location of Victory

China and Cambodia continues to

‘China Town’ in the future”.

Beach, and covering a land area of

strengthen, which is resulting in

4,126 square meters, The SeaGate

increased opportunities for Chinese

Sihanoukville has previously been

Suite is the first of its kind, as the

investment into the Kingdom’s

known as a hub for European

tallest mixed use development project

real estate market. Cambodia’s

investors- which accounted for

in Sihanoukville. Launched in June

potential for development has

75 percent of the province’s total

2017, The SeaGate Suite’s 45 storeys’

been recognised, due to its under-

investment. However, with the recent

are planned to be completed by

urbanisation compared to other

influx of Chinese investment, this is

December 2020.

counterparts in the ASEAN region.

rapidly changing with the Chinese

As a result of these factors, China

now holding 65 percent of the total.

Mr. Ten, Project Manager of The

invests a large amount of capital in

Casino’s, condominiums and hotel

SeaGate Suite, describes Sihanoukville

this sector every year, particularly

complexes are the major focus of

as the, “precious pearl of Cambodia

in Sihanoukville - where chinese

Chinese investors.

that most investors want to be a part

investors are seeking market dominance.

of”. Mr. Ten believes this province As a result of improved infrastructure

is not just a prime destination for

and the growing economic and

tourism, but also provides lucrative

Mr. Norn Thim, Sale and Leasing

tourism potential of Sihanoukville,

opportunities for businesses to be

Manager of Sihanoukville Property,

major Chinese projects such as Blue

based.

elaborated on the reasons for this

Bay and The SeaGate Suite have

dominance by stating that “currently,

chosen this beautiful coastal province

Mr. Ten adds that, “After Phnom Penh,

Chinese investors are dominating the

to host their developments.

we envision that Sihanoukville will be

real estate market in Sihanoukville with

52

CAMBODIA REAL ESTATE 2017

the second biggest city in terms of

EDI TO R I A L

having strong tourism, commercial and infrastructure sectors.” He believes that because of the prospective development there will be a high demand for residential units in the province, as staying long term in a hotel is financially unsustainable compared to the price of renting a room in a condo.

Meanwhile, another key project in the province, Blue Bay, is being developed

by Chinese developer Shu Jian Tian Yu Development Co., Ltd. With a 200 million USD investment from the developer in 2016, the luxury condominium project is expected to be completed for its buyers and residents by December 2019.

Ms. Chen Li, Sales Manager of Blue Bay, also agrees that Sihanoukville is a prime investment location - but attributes a lot of this to Cambodia’s development as a whole. Ms. Chen believes that “Cambodia’s political stability, average current annual GDP growth of 7 percent, and the development of the “One Belt, One Road’’ encouraged Blue Bay to invest in Sihanoukville”. Her vision is that Sihanoukville will be at the

have considered moving to areas in

Sihanoukville during special occasions

international forefront as a tourism

Cambodia which have more affordable

such as Khmer New Year, Water

hub, in the very near future.

land prices, such as Kampot.

Festival and Pchum Ben.

However, one effect of the influx of

Mr. Norn Thim, Sale and Leasing

Mr Norn is also worried about local

Chinese investment in Sihanoukville’s

Manager of Sihanoukville Property,

small businesses such as Tuk Tuk

real estate sector is that land price in

has expressed some concerns about

drivers or restaurant owners suffering

the province is soaring. The price of

the influx of Chinese investment in

as the Chinese will no longer use these

land near coastal areas such as Otres

Sihanoukville. Mr. Norn is worried

existing local services once they have

Beach has soared up to $1,100 USD

that in the future there may only

their own. This is a major contrast to

per square meter, from being initially

be Chinese investors controlling

the Europeans that happily use the

priced around the $700 USD mark.

the whole real estate sector in

services provided by Cambodians.

Rental properties have also seen an

Sihanoukville which would monopolise

overwhelming price increase with

the market. The result of this would

apartment prices double what they

be that land and rental prices will

were a few years ago. As a result,

continue to climb, which may deter

many local and European investors

local Cambodians from visiting

Learn more about development hotspots on Realestate.com.kh today.

2017 CAMBODIA REAL ESTATE

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CAMBODIA REAL ESTATE 2017

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2017 CAMBODIA REAL ESTATE

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ED I TORIAL

SIEM REAP MEGA MALL APPROACHES COMPLETION T H E H E R I TA G E WA L K

With 80 percent of the project complete, the largest mall in Siem Reap to date - “The Heritage Walk” is expected to offer a wide range of shopping and entertainment possibilities to tourists and local residents alike upon its completion in early 2018.

Adding to the several small malls including Lucky Mall, Angkor Trade Centre and other shopping complexes, The Heritage Walk will provide 40,000 square metres of covered and open-

56

CAMBODIA REAL ESTATE 2017

air retail space, accommodating

Mr. Mario Tan, Sales and Marketing

this will also give investors more

approximately 100 shops; including

Director of Hunter Estate, said, “The

confidence in the real estate market in

restaurants, coffee shops and a

new mall would give tourists and local

Siem Reap.”

cinema.

people more shopping and leisure options, and will attract them to spend

It is worth noting that land price in

Located on 1-hectare of land at the

more and stay longer in Siem Reap.

Siem Reap is stagnating at the moment

corner of National Road 6 and Oum

With some small malls operating

ahead of coming general election with

Chhay Street in Siem Reap’s Svay

successfully in the province, The

an average between $350 and $400

Dongkoum commune, The Heritage

Heritage Walk, the first major mall in

per square meter. It is hoped that

Walk is set to launch its soft opening in

Siem Reap, will have a high chance

The Heritage Walk will regain investor

February and a grand opening in April

of success as there will be local and

confidence, enabling land price to rise

2018.

international tourists flocking to go

again after the election.

shopping in this mall.”

The Heritage Walk project is good news for the real estate sector in Siem

Mr. Mario added: “this is a positive

Reap with local real estate agents

thing for the local economy as there

expressing optimism toward the new

will be more business activity taking

project.

place in the province. Moreover,

Stay updated with new developments across Cambodia. Check out our blog.

2017 CAMBODIA REAL ESTATE

57

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Siem Reap

Wat Phnom

This 1-bedroom apartment is a mere 15-minute drive to Siem Reap International Airport and only minutes away from the city centre.

Having undergone a full refurbishment and re-branding exercise, this 2-bedroom colonial-style apartment offers contemporary living in a luxurious setting.

Apartment For Sale - $295,000

Apartment For Rent - $2,400/month

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Tonle Bassac

BKK 1

The residential property is nested in an 18-storey tower comprising a total of 85 luxurious condominium units.

This apartment consists of a total of 37 cozy luxurious rooms fully equipped with unique modern design and features.

Condo For Sale - $187,300

Apartment For Rent - $2,100/month

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Tonle Bassac

BKK 1

The mixed use development is comprised of three, 55 storey towers on top of a supporting retail mall​​​​​​​​​ and is an excellent investment opportunity.

The highly secured complex is designed for comfort and convenience, with facilities such as a gym, swimming pool and all other necessary amenities.

Apartment For Sale - $157,000

Apartment For Rent - $3,000/month

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Chroy Changvar

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http://www.knightfrank.com.kh

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FE ATU R ED A GENT 023 727 007 http://www.ncmaxworld.com/ enquiries@ncmaxworld.com

Chbar Ampov

Boeung Trabek

This property located is 100 meters from the National Road Number 1 and it is approxiamately 8.3km from Phnom Penh. This property is in a residential area which is close to amenities.

This apartment building is located near Russian Market. That building has a total of 20 rooms which providecomfort and high security.

House For Sale - $870,000

Apartment For Sale - $1,500,000

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BKK1

Pochentong

This corner property is surrounded by condominiums, apartments, public & private schools, and a main local market.

This property faces a main road and is in a highly accessible location.

This property is located in a residential area. It has 4 bedrooms, 4 bathrooms, 1 livingroom, 1 kitchen, 1 parking and 1 swimming pool.

Villa For Sale - $6,000,000

Villa For Sale - $188,000

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Chroy Chongvar

Toul Tum Poung 2

This property is located in a prominent residential area. It is only 500m from Japanese bridge, and has 1 kitchen, 1 dining room and 2 living rooms.

These 4 properties are suitable for residential area. Buyer can renovate to a new apartment and can get high rental rate.

Villa For Sale - $480,000

House For Sale - $160,000

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Kep

Pochentong

The villas are fully furnished, and equipped with high end facilities.

This house is in a prime commercial area and the potential buyer can expect to receive monthly rental returns of approximately $2,000/month.

Villa For Sale - $1,100,000

House For Sale - $600,000

54 Sangkat Chomchao

Phsar Daeum Kor

This property is suitable for a factory business or warehouse due to its size, and is in located in the heart of Sangkat Chomchao, Phnom Penh.

This property is located on the main road and is close to; hospitals, businesses, public & private schools, and other key amenities.

Warehouse For Sale - $248,000

Property For Sale - $200,000

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F EA TURED AGENT 023 727 007 http://www.ncmaxworld.com/ enquiries@ncmaxworld.com

Chbar Ampov

BKK 1

This property is located on the main road and nearby 2 hospitals, businesses, condominiums, hotels, public & private schools, markets, and marts.

This condominium is avaliable now. It has one fully furnished bedroom with parking space. With the best location in the city, buyers are offered a convenient way of life.

Villa For Rent - $1,000/month

Condo For Rent - $1,200/month

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Kampuchea Krom Blvd

BKK 1

This building is situated in high potential commercial area in Phnom Penh. This offers the buyer a good opportunity for investment return.

This 2 bedroom condominium is situated in the heart of the city which allows for convenient access to amenities throughout Phnom Penh.

Building For Rent - $12/m2

Condo For Rent - $2,000/month

2 National Road 4, Kampong Spue province This warehouse is along the Natioinal Road 4 and is easily accessible logistically. The warehouse is availble for rent for a minimum of a 5 year contract.

Warehouse For Rent - $1.6/m2

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BKK 1 This condominium is located in the most popular residential area of BKK1. The condo has 3 bedrooms with a wide range of parking spaces.

Condo For Rent - $3,000/month

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BKK 3

Tonle Bassac

This building is located on the main road in BKK3. It is close to many businesses, shops , restaurants, high-rise buildings, hotels, private schools, and a large local market.

This new condominium is situated in a high potential commercial area.The sellers are offering buyers a special discount for purchasing a unit in this condominium.

Building For Rent - $7.8/m2

Condo For Rent - $500 - $1,000/m

1-3 Diamond Island

Boeung Trobek

The best convenience area for living in central city next to diamond islands

This is a 1 bedroom apartment unit for rent . This apartment’s location is surrounded by restaurants, public/private schools, hospitals and local & international markets.

Apartment For Rent - $650/month

Apartment For Rent - $700-$900/m

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FE A T U R ED A GENT

Easy Property Investment “Make Your Needs Easier” is the motto of Easy Property Investment.We understand clients’ unique needs and ensure that their property search is smooth, fast and with a relationship based on transparency and trust.

015 777 586 http://www.easypropertyrealty.com contact@easypropertyrealty.com

Phsar Chas

Tonle Bassac

This apartment is a clean and fully furnished, secure and calm place, allowing for comfortable living. This apartment is close to market, schools, banks, and other amenities.

This apartment is clean and fully furnished, secure and a calm place which allows for comfortable living.

Apartment For Sale - $65,000

Apartment For Rent - $1,000 - $1,200/m

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Tuek L’ak 1

Chamkarmon

This residence offers ease of living because it is in a prime location in the downtown area. It is close to markets, schools, banks, hospitals and other facilities.

A fully-furnished unit apartment for rent. this apartment already includes cable TV, a cleaning service, and a laundry service.

Flat For Sale - $28,000

Apartment For Rent - $1,100 - 1,250/m

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Khan 7Makara

Boueng Trobek

This house has a good location in Sangkat Veal Vong. It has 1 bedroom and 1 bathroom.

This apartment building is located in Chamkamon. This apartment is very clean and fully furnished, secure and allows for comfortbale living.

House For Sale - $177,000

Apartment For Rent - $800/month

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Kakap

Boueng Trobek

House for sale E0+E1 located in Sangkat Kakap. This house, when completed will have 2 bedrooms and 3 bathrooms, a living room and a kitchen.

Located near schools, restaurants, and shopping, this apartment allows access to the gym, pool and many more facilities.

House For Sale - $35,000

Apartment For Rent - $500/month

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Porsen Chey

Boeung Trabek

Due to its central location, this house can be used for both commercial and residential ventures.

This fully-furnished condo has 1 bedroom and 1 bathroom. It comes with a premium view of the City.

House For Sale - $57,500

Apartment For Rent - $600/month

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FEA TURED AGENT

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

http://yifung.co/

Teuk L’ak

Daun Penh

This fully furnished contemporary condo unit is one of the newest additions on the market, with access to pool, gym and other facilities.

This studio apartment comes fully furnished with a great cityscape view and a 7.5% rental guarantee for the next 3 years.

This brand new studio unit won’t last long!!!

Condo For Sale - $76,000

Studio For Sale - $122,000

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BKK1

Phnom Penh Airport

Perfect location in the heart of city.

This condo unit is priced below market price and is minutes away from markets, schools, banks and plenty more amenities.

These 4 connecting flats are currently leased and located opposite to Airport. Tremendous traffic flow with 17m of frontage, gives this flat great commercial potential.

Condo For Sale - $95,000

Flat For Sale - $1,200,000

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21 BKK 1

This land is 935m2 with frontage over 22m, facing the Tonle Sap River. Perfect opportunity for investment or development.

Land for sale with a house built in the heart of the city and close to the Independence Monument.

Buyer can opt to redevelop or rent out as it is.

Land For Sale - $2,000,000

Land For Sale - $2,800,000

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Russian Blvd

Sihanouk – Stung Hav

Located near Wat Tuek Thla on Russian Blvd, this land is 4064m2 with a frontage of 65m and is in high demand.

117ha coastal land in Stung Hav with tremendous views of the gulf.

Comes with an exclusive Golf course license package for Sihanoukville.

Land For Sale - $11.4M

Land For Sale - $30M

7 Makara

Sihanoukville

This beautiful 3-bedroom condo is in the heart of city. The unit is spacious with a high ceiling allowing for luxurious living on a high floor.

Situated 15min away from Sihanoukville, with 111.5 ha of land with water reservoirs and full-scale fruit & crop plantations.

This self-running businessis is perfect for investors.

Condo For Sale - $245,000

Land For Sale - $5.6M

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Chroy Chongvar

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FE ATU 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

http://yifung.co/

7 Makara

Boeung Kak Lake

1-2 bedrooms condo units in the heart of the city. The units are clean, modern and spacious with a high ceiling, allowing for luxurious living.

This warehouse of 1800m2 on Russian Blvd is one of the few available if location is a main concern. This warehouse can be used for storage or converted to a showroom.

Condo For Rent - $600-$800

Warehouse For Rent - $18,000PM

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Russian Confederation Blvd

Daun Penh

1ha commercial land with 26m frontage on Russian Blvd, available mid or long-term. This land is suitable for a show room or a business park.

Prime office space from 60~ 400m2 with spectacular city views, minutes from Monivong Blvd with parking available.

Land For Rent - $4/m2

Office Space For Rent - Fr.$13/m2 PM

BKK1

Tonle Bassac

This 4-bedroom modern villa in BKK1 offers spacious living and en-suite bedrooms in a convenient location.

This 3+1 bedroom condo offers spectacular river views with countless facilities and privacy, yet minutes to Norodom.

Villa For Rent - $4,000PM

Condo For Rent - $1,500PM

Hanoi Road

Daun Penh

This 500m2 warehouse is located in Hanoi near Nat Bank Cambodia.

Perfect for a business seeking a short to mid term rental.

This serviced apartment block consistsof 25 units,is 300m2 and is fully furnished. It is a great opportunityfor a business to grow.

Warehouse For Rent - $2.4/m2

Apartment For Rent - $9,000PM

Hanoi Road

River Side

The same owner as the above property also had land to tailor build a 1000~2000m2 warehouse. Perfect for a business seeking a warehouse with design requirements.

This economical studio apartment is minutes away to the Riverfront yet it is nice and quiet for residential living.

Warehouse For Rent - $2.4/m2

Apartment For Rent - $450PM

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FEA TURED AGENT

CBRE Cambodia Our global perspective benefits a wide range of clients from private local investors to major overseas institutions.

023 964 099 http://www.cbre.com.kh/ cambodia@cbre.com

Tonle Bassac

Tonle Bassac

Situated in a quiet street of Tonle Bassac, this luxury apartment offers a quiet sanctuary with the utmost privacy and security and is just a short drive to Aeon shopping mall, BKK1 food and beverage district and leisure facilities.

Situated in a quiet street of Tonle Bassac and just a short drive to Aeon shopping mall, this brand new apartment offers a quiet sanctuary with the utmost privacy and security.

Apartment For Sale - $280,000

Apartment For Rent - $800/month

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Tuek Thla

Tonle Bassac

Situated at the popular Attwood Business Centre, this 5 storey shophouse is offered for a quick sale. It also can be used as warehousing and office space.

Ideally situated in the up-andcoming residential and retail hub of Diamond Island (Koh Pich), this fully serviced apartment offers 75 fully-furnished residences on the upper floors.

Shophouse For Sale - $370,000

Apartment For Rent - $2,400/month

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Tonle Bassac

Situated on the 14th floor in a quiet street of Tonle Bassac, this 3 bedroom luxury apartment is fully furnished to the highest standards and offers a quiet sanctuary with the utmost privacy and security

With an area of 24, 000 sqm, this high quality retail space is inside The Bridge and the handover to buyers starts in December 2017.

Apartment For Sale - $597,462

Retail Space For Rent

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Tuek L’ak 1

Tonle Bassac

This condominium building with great interior design near RUPP University has 2 options of studio and 2 bedroom apartment units.

Located in a prominent position between BKK1 District and Tonle Bassac area, this premium office offers a clean, safe and professional working environment.

Condo For Rent - $650/month

Office Space For Rent - $22/sqm

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BKK 1

Sen Sok

Located in BKK1 area, this well designed 2 bedrooms serviced apartment is close to cafe shops, restaurants, school and retail stores.

Located in Sen Sok City, this luxurious villa provides privacy, safety and a comfortable environment for your family.

Condo For Rent - $1,700/month

Villa For Rent - $2,000/month

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Tonle Bassac

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FE ATU R ED A GENT

Lucky Property Services Lucky Property Services (LPS) is a specialized company in renting, selling, buying, and managing real estate and property.

012 623 398 http://www.luckypropertyservices.com/

info@luckypropertyservices.com

Chroy Changvar

Phnom Penh Thmei

This modern 2-bedrooms serviced apartment is located in a high-rise condominium next to Mekong River with 104sqm space and is fully furnished.

This warehouse is great for commercial use because of its 600sqm space and it also contains office rooms too - and is just a few minutes from the main road.

Condo For Sale - $2XXXXX

Warehouse For Rent - $2,000/month

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Phnom Penh Thmei

Chaktomuk

This 8-bedroom villa is a great place for a modern lifestyle with 405sqm of land and a 144sqm villa. All the rooms are spacious and it located in a great community.

This 180sqm villa is situated on 429sqm of land and is a quiet and peaceful place. There are many accessible places available in the neighborhood such as: markets, shops, schools and hospitals.

Villa For Sale - $540,000

Villa For Rent - $2,700/month

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Phnom Penh Thmei

BKK1

This beautiful land and house is a great place for a quiet lifestyle with 2121sqm spacious land and as a bonus it also has a treehouse.

This 75sqm, 1-bedroom apartment is located in the Downtown area where the shops, markets, hospitals,and schools are surrounded. The balcony enables you to see the city around you.

House For Sale - $550,000

Apartment For Rent - $1,100/month

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Chey Chomneas

Chaktomuk

This 144sqm house is located in a good community where the shops, store, market, school and hospital are all in close proximity. It is also close to the Royal Palace.

The 160sqm villa has a style of its own, a balcony and it also has a relaxing atmosphere. It is close to the shops, markets, hospitals and schools.

House For Sale - $550,000

Villa For Rent - $1,500/month

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Koh Dach

Chaktomuk

The land will provide many advantages for commercial ventures. With the 7990sqm area, it can be converted into a gated-community and is only a mere distance from the city.

Built on 577sqm land, this375sqm house is great for both commercial and residential use.

With beautiful wooden furniture, it allows for living a luxurious lifestyle.

Land For Sale - $940,000

Villa For Rent - $6,000/month

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FEA TURED AGENT

Yong Yap Properties We understand that buying, selling or renting a property is more than just knowing your budget and going through a database. We respect it is an important decision and we take great pride in understanding every client’s needs, exploring all possible options and cross-matching the right property.

contact@yongyap.com

Phsar Kandal 1

With easy access, a large and unobstructed 105sqm floor plan and plenty of natural light over a wide internal staircase, this apartment is both a comfortable urban space and a renovator’s dream.

Perfect for a single or couple looking for an inner city experience in a great space with an inviting entrance and loads of natural light.

Apartment For Sale - $57,000

Apartment For Rent - $290/month

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Phsar Chas

Chey Chumneas

With a basic building structure to contend with, this would be a simple space to gut and re-build and it has easy access to all the popular areas of Riverside.

Located in Street 19 between street 172 and 178 and just 3 minutes’ walk to popular Street 172 and National Museum, this apartment has a bright and comfortable living room and is in a friendly neighborhood.

Apartment For Sale - $48,500

Apartment For Rent - $440/month

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Phsar Kandal 2

Phsar Kandal 1

With over 150 sqm floor space, this generously proportioned apartment could be renovated into a fully converted western-style apartment or simply upgraded, whilst maintaining its colonial charm.

Located in corner Street 130/ Street 7, this apartment is just five minutes’walk to Kandal, Old Market and Riverside.

Apartment For Sale - $180,000

Apartment For Rent - $750/month

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Phsar Chas

Wat Phnom

Located on Street 110 near Norodom Boulevard with a street front entrance and clean stairwell, this three-level, four bedroom apartment has to be seen to be believed.

With a large & comfortable living room and balcony with river views, this apartment is on Street 108 near the popular riverfront area.

Apartment For Sale - $325,000

Apartment For Rent - $700/month

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Phsar Kandal 1

Phsar Chas

The apartment offers unparalleled views of the of the Tonle Sap River with the opportunity to create a delightful living environment, and create a rooftop garden with an entertainment area.

This apartment, located perfectly on St 130, offers luxury and comfort in a spectacular modern living space and will provide you with a beautiful western home nestled amongst culture.

Apartment For Sale - $500,000

Apartment For Rent - $800/month

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http://yongyap.com/

Phsar Thmei

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017 400 700

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FE A T U R ED A GENT

South East Asia Property Services

012 828 625

South East Asia Property Services Co. (Seaps) aims to help people feel educated and secure about their property portfolio in the region. We do this through our well trained, highly motivated energetic team of realtors.

http://www.cambodiaproperty-seaps.com/

info@seaps.asia

Sihanoukville

Phsar Kandal 1

The resorts’ design uses minimalist Scandinavian influences and Khmer traditional architecture to create light and comfortable environments.

Exuding an easy elegance and with spacious, light flooded interiors, the property is ideally situated to make the most of a relaxed Phnom Penh lifestyle.

Business property For Sale - $477,000

House For Sale - $180,000

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Tonle Bassac

Phsar Kandal 1

More than just a home, these units enable a comfortable lifestyle. The complex features a variety of amenities to improve your quality of life.

This is a luxurious apartment on the Riverfront close to the Royal Place, International Museum, and other key amenities.

Condo For Sale - $281,600

Apartment For Rent - $1,000/month

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AMATAK Property Service

012 601 472

To be the most preferred and referred/recommended real estate firm in Cambodia.

tanghour@amatakpropertyservice.com

http://www.amatakpropertyservice.com/

Phnom Penh Thmey

Phnom Penh Thmey

With a total land size of 819 sqm, this guesthouse,situated in a prime location, is for sale with hard title.

Just 10m from Hanoi, this Villa has an area of 36​m x 30m. It has 6 bedrooms and is fully furnished.

Guesthouse For Sale - $1,500,000

Villa For Rent - $4,000/month

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Boeung Kak 1

Chbar Ampov

This building located in Boeng Kak 1 is provided with hard title and has an area of 5.5m x 14.5m.

This warehouse in Chbar Ampov has an area of 1,100 sqm and is a prime space for any commercial venture

Building For Sale - $280,000

Warehouse For Rent - $1,200/month

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FEA 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 stake holders.

http://www.cplagent.com/CPL_Home

info@cplagent.com

BKK 3

BKK 1

You can enjoy the convenient location, with only a few minutes drive to the Killing Fields, Olympic Stadium, and Preah Monivong Blvd.

Good size 8 bedrooms apartment with a large kitchen and balcony. The apartment contain double bedrooms with wardrobes and 1 study/office room which can be used as a single bedroom.

Flat For Sale - $350,000

Apartment For Rent - $7,000/month

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Preaek Ruessei

Stueng Mean Chey

With 6 double bedrooms, a family bathroom and an ensuite, this home is well equipped and suited to a wide range of lifestyles.

This propertyis located at Sangkat Stueng Mean Chey, Khan Meanchey - on the main road. There are many opportunities on offer here whether you are looking for straight rental income or a home and multi-income scenario.

Villa For Sale - $300,000

Flat For Rent - $2,900/month

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FEA TURED AGENT

Phnom Penh Daily Properties Phnom Penh Daily Properties are your trusted real estate consultants and agencies. We focus on our clients’ needs first and foremost, and always act with our customers best interests in mind.

077 884 090 http://www.phnompenhdailyproperty.com

servicespdp@yahoo.com

Por Sen Chey

Tonle Bassac

This prime piece of land has a new warehouse built as is available for rent and is conveniently close to the airport.

This serviced apartment offers tenants a quiet and very safe area, close to markets, and other amenities.

Land/Warehouse For Sale - $170,000

Serviced Apartment For Rent - $1,100/month

2 Chroy Changvar

Toul Tum Poung 2

A great piece of land for sale on National Road 6A, it’s 26 km from Chroy Chang va bridge, and 3 km from Prek Tamak Bridge.

Situated in a quiet and very safe area, this apartment offers; free parking, pool, gym, lift, 24h security, wifi, and cable TV.

Land For Sale - $40 per sqm

Apartment For Rent - $700/month

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HomeConnect

077 424 840

HomeConnect is Cambodia’s premier expat home search company, dedicated to making the home search process easy and specializing in finding rental homes for the expatriate community.

http://www.homeconnectcambodia.com/

Daun Penh

Wat Phnom

This beautiful colonial two bedroom apartment for sale is located within walking distance of the famous Riverside in the fashionable colonial district of Phnom Penh.

This modern 2 bedroom 1 bathroom New York style loft apartment is now available for rent near to the historic landmark of Wat Phnom.

Apartment For Sale - $140,000

Apartment For Rent - $750/month

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bobby.peoples@homeconnect.asia

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1

Daun Penh

Tonle Bassac

This renovated three bedroom apartment for sale is located close to the famous Independence Monument in the heart of Phnom Penh.

This modern designed apartment for rent is situated on a quiet leafy street in the ever popular Tonle Bassac area. It has two good sized bedrooms, two bathrooms and a modern fitted kitchen.

Apartment For Sale - $235,000

Apartment For Rent - $1,250

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Solina Realty Personal & Professional Real Estate Services.

097 743 1948 / 077 253 554

http://www.solinarealty.com/ info@solinarealty.com

Siem Reap

Siem Reap

With the total size of 35,400 sqm, this land is conveniently located near Banteay Srei Temple and is a great investment opportunity.

Brand new luxury 1 & 2 Bedroom apartment situated on Route 60 near Childrens Hospital.

Land For Sale - $42,000

Apartment For Rent - $650/month

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Siem Reap

Siem Reap

This luxurious villa in Siem Reap has 3 bedrooms, 3 bathrooms, and spacious living areas.

An apartment with western standards, a modern one bedroom unit situated near Wat Bo road. This apartment is fully self contained & furnished with access to swimming pool.

Villa For Sale - $110,000

Apartment For Rent - $475/month

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FE A TURED AGENT

Century 21 Golden Realty To put forward customers’ needs as our top priority and help them in finding the right properties that meet their requirements.

071 555 5588 http://www.c21golden.com.kh/

info@c21golden.com.kh

Koh Pich Area

Riverside Area

Superb brand new condo for rent and sale in Diamond Island area.

Beautifully designed interior and perfectly structured layout that allows tenants to see the total view of Phnom Penh City.

Easily located brand new apartment situated close to National Museum. With its coziness and well designed interior, you can enjoy the unique view of the Riverside area of Phnom Penh.

Apartment For Rent - $990/month

Apartment For Rent - $800/month

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Tonle Bassac

Russian Market Area

Beautifully designed apartment for rent in Tonle Bassac with luxury and comfort at its finest. Fully furnished rooms that allow tenants the exclusive feeling for their future home.

Nicely decorated studio room located in a safe neighborhood close to Russian market. Easily located property that provides fully cleaning and laundry services.

Apartment For Rent - $800/month

Apartment For Rent - $500/month

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FE A TURED AGENT

http://ips-cambodia.com/

Cambodia’s Premier Property and Real Estate Agency.

inquiry@ips-cambodia.com

Tonle Bassac

Central Market

A flexible and superb investment opportunity. This massive four bedroom villa has the space and overall design to accommodate residential and office requirements.

Large, two bedroom two bathroom apartment available for short term rental. Located on the first floor, the open living room incorporates seemlessly with a large balcony and an outdoor kitchenette.

Villa For Sale - $1,300,000

Apartment For Rent - $1,000/month

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077 959 861

IPS Cambodia

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Phsar Kandal 1

Toul Tom Poung 2

Bar business for sale in Riverside district. This bar is currently running as a successful hopsitality business.

Towering over a major road in the southwestern part of the city, opposite the Russian Hospital, this building has 10 floors now available for rent and offers excellent space solutions for several investment purposes.

Bar Business For Sale - $19,000

Building For Rent - $14 sqm/month

FE A TU R ED A GENT

Kampot Property As a full service real estate brokerage we can assist our clients in every aspect of property ownership.

010 386 519

https://kampot-property.com kampotland@gmail.com

National Road 3 (Kampot)

Kampot

Amazing riverfront land that is situated close to the beach with a lot of potential for multi purposes especially for an eco resort, bungalow or building your dream home.

This land is surrounded by mountain views, and is ideal for a resort or bungalow. A prime location for making a dream home for anyone who is looking for peace.

Land For Sale - $250,000

Land For Sale - $45,000

National Road 3 (Kampot)

Kampot

This land located in a nice area, surrounded by stunning views of the mountain and green trees.

Highly reccomend for resort / bungalow purpose or other development projects.

Located in nice quiet area which has mountain views to the west and surrounded by some friendly local neighbors. An ideal property for two families or one large family.

Land For Sale - $3.5 per square meter

Villa For Sale - $150,000

FE A TU R ED A GENT

Key Real Estate

023 880 995

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.

http://www.keyrealestate.com.kh/

Boeng Kok 1

Tuek Thla

Located in Boeng Kok 1, Tuol Kork, Phnom Penh, this Villa is in the business area near Phnom Penh City Center.

With a total land size of 567 sqm and building size of 240 sqm, this collonial villa is conveniently near the Industrial Zone.

Villa For Sale - $1,300,000

Villa For Rent - $6,000/month

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info@keyrealestate.com.kh

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Boeng Tumpun

Phnom Penh Thmei

With a total land size of 285sqm, this villa is quiet and allows for comfortable living for a family.

With a total land size of 147sqm and building size of 72sqm, this twin villa is in a developing, high potential area of Phnom Penh.

Villa For Sale - $280,000

Villa For Rent - $1,200/month

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FE A TURED AGENT

Hunter Estate

070 761 390

Hunter Estate is a local negotiator with knowledge, and they know how to process enquiries. They have an established network to service their clients with the highest level of integrity and quality of services expected from professionals.

http://www.hunter-estate.com ask@hunter-estate.com

Siem Reap

Siem Reap

Excellent choice with marvelous outdoor swimming pool and warm-welcoming restaurants along t he site. Colossal rooms with 48sqm and all the modern amenities included.

Stunning and classy 2 bedroom villa for rent with a pool, fully-furnished kitchen and living room with surrounding dining areas in Siem Reap!

Hotel For Sale - $899,000

Villa For Rent - $1,500/month

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2

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Siem Reap

Siem Reap

Tastefully and modern 5 bedroom villa for sale in Siem Reap!

This is a comfortable house with all modern amenities available.

Stylish 7-bedroom apartments located five minutes to the very popular Old Market, available for rent in Siem Reap!

Villa For Sale - $175,000

Apartment For Rent - $2,000/month

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FE A TURED AGENT

Daily Realty We are committed to creating enjoyable real estate transactions through the efforts of the most dedicated professionals supported by innovative programmes, tools and management.

ravydaily@gmail.com

Stueng Mean Chey

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 land is located alongside Doung Ngeab II, Stueng Mean Chey. This land is located in a developing area, near many international schools and key condo and borey developments.

Villa For Sale - $1,600,000

Land For Sale - $650/m2(negotiable)

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Russey Keo

Chroy Changvar

This property for sale is located in Russey Keo. Its location is close to key facilities and amenities. It also come with a hard title.

This land is located next to the river, along National Road 6A, Chroy Changvar, Phnom Penh.

Located in a up and coming area, the land offers a prime investment opportunity.

Villa For Sale - $645,000

Land For Sale - $470,000

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http://www.daily-realty.com/

Chbar Ampov

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016 747 000

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FE A T U R ED A GENT

CDN Property

016 234 506

We specialize in residential lettings and house sales and offer a large number of managed properties in Phnom Penh city and nearby provinces of Cambodia - providing expert advice, guidance and support to our customers.

http://cdnproperty.com/en info@cdnproperty.com

Toul Tom Poung 2

Toul Kork

This modern condo for rent, is fully furnished with an elevator, sky swimming pool, gym, internet, cable TV and cleaning services.

Luxurious serviced apartment for rent. Located in Toul Kork, near supermarkets, a gym & international schools and other amenities.

Condo For Rent - $500/month

Serviced Apartment For Rent - $750/month

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BKK 3

Toul Tom Poung 2

The serviced apartment has 1 bedroom and 1 bathroom, and is located in BKK 3. The living room is bright, with a comfortable sofa and a large balcony.

This apartment contains 2 bedrooms, each with a balcony, 2 bathrooms (with warm-cool shower), a bright & comfortable living room and is fully furnished.

Apartment For Rent - $650/month

Apartment For Rent - $500/month

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AGENTS DIRECTORY

+855 18 616 8888 info@realestate.com.kh

KNIGHT FRANK

YI FUNG

+855 (0)23 966 878

855 (0)23 986 300

www.knightfrank.com.kh

www.yifung.co

enquiry@kh.knightfrank.com

info@yifung.co

NC MAXWORLD

HOME CONNECT

+855 (0)23 727 007

+855 (0)77 424 840

www.ncmaxworld.com

www.homeconnectcambodia.com

enquiries@ncmaxworld.com

bobby.peoples@homeconnect.asia

CPL

HUNTER ESTATE

+855 (0)23 555 5566

+855 (0)16 988 983

www.cplagent.com

www.hunter-estate.com

info@cplagent.com

ask@hunter-estate.com

IPS +855 (0)77 959 861 www.ips-cambodia.com inquiry@ips-cambodia.com

SOUTH EAST ASIA PROPERTY SERVICES +855 (0)12 828 625 www.cambodiaproperty-seaps.com info@seaps.asia

YONG YAP +855 (0)17 400 700

+855 (0) 17 292 228

www.yongyap.com

www.cdnproperty.com

contact@yongyap.com

info@cdnproperty.com

KEY REAL ESTATE

SOLINA REALTY CONSULTING

+855 (0)23 880 995

+855 (0)77 253 554

www.keyrealestate.com.kh

www.solinarealty.com

info@keyrealestate.com.kh

info@solinarealty.com

AMATAK PROPERTY SERVICE +855 (0)12 601 472

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CDN

KAMPOT PROPERTY +855 (0) 10 386 519

www.amatakpropertyservice.com

www.kampot-property.com

tanghour@amatakpropertyservice.com

kampotland@gmail.com

CAMBODIA REAL ESTATE 2017

CENTURY 21 CAMBODIA +855 (0) 23 966 711

CBRE CAMBODIA +855 23 964 099

www.century21.com.kh

www.cbre.com.kh

info@century21.com.kh

cambodia@cbre.com

CENTURY 21 GOLDEN REALTY

SIEM REAP LAND HOUSE +855 17 267 979

+855 (0) 71 55555 88

http://www.siemreaplandhouse.com/

www.c21golden.com.kh

info@siemreaplandhouse.com

h.vathana@c21golden.com.kh

EASY PROPERTY INVESTMENT CAMBODIA +855 (0) 96 492 8888 www.easypropertyrealty.com

DAILY REALTY GROUP +855 (0)77 747 000 http://www.daily-realty.com/ ravydaily@gmail.com

info@easypropertyrealty.com

LUCKY PROPERTY SERVICES

FIRST ROYAL PROPERTY

+855 (0)12 623 398

+855 12 641 864

www.luckypropertyservices.com

tinatny@gmail.com

info@luckypropertyservices.com

SIHANOUKVILLE PROPERTY

KON KHMER PROPERTY SERIVCE

+855 (0) 16713377

+855 89 700 077

http://www.sihanoukvilleproperty.com/

pechhaiang@gmail.com

info@sihanoukvilleproperty.com

PHNOM PENH DAILY PROPERTIES

OROMË

+855 (0) 77 884 090

+855 12 971 001

http://www.phnompenhdailyproperty.com

http://orome.asia/

servicespdp@yahoo.com

info@orome.asia

MOANA REALTY +855 (0) 85 456 788 sengsaramany@gmail.com

KEYSTONE PROPERTY CONSULTANTS + 855 (0) 23 989 320 http://www.keystone-savills.asia/ info@keystone.com.kh

SC REALTY

KHMER ANGKOR REAL ESTATE

+855 23 988 178

+ 855 (0) 99 968 988

www.sc-realtyco.com

gosoksan@gmail.com

info@sc-realtyco.com

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070 444 667 / 070 444 887 077 444 667 / 077 444 887 2017 CAMBODIA REAL ESTATE

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2017 CAMBODIA REAL ESTATE

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1+3?

CAMBODIA&VIETNAM 4 BIG CITIES COVERING NEWS MAGAZINE. YOU CAN ENJOY THE LIFE PLAZA IN THE CITIES OF TWO COUNTRIES AS FOLLOW.

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