Phnom Penh, often referred to as the "Pearl of Asia," has emerged as a sought-after destination for travellers seeking unique experiences. With a surge in global interest and a wave of new developments, this city seamlessly blends tradition with modernity, catering to both visitors and residents.Tourists flock to Phnom Penh to explore iconic landmarks such as the Independence Monument and the Riverside, immersing themselves in the local market for an authentic experience. However, the city's appeal as a must-visit destination in Southeast Asia is steadily growing, thanks to the emergence of award-winning hotels and exceptional rooftop bars that serve as top-notch entertainment venues. These exciting developments have positioned Phnom Penh as an increasingly attractive destination in Southeast Asia.According to a research report by Explore Worldwide, a UK adventure travel company, Phnom Penh ranks fifth on the list of preferred destinations for solo travel worldwide. Over the past two years, the search volume for Phnom Penh has skyrocketed by an impressive 500%, indicating its growing popularity among travellers. Moreover, Phnom Penh is renowned for its diverse districts that cater to different interests and preferences.(Photo credit: Explore Worldwide)One of the most popular areas is Riverside (Sisowath Quay), situated along the Tonle Sap River. This neighbourhood offers a range of accommodations and is known for its lively street life, particularly at night with the Phnom Penh night market. Tourists enjoy strolls and explore attractions like the Royal Palace, National Museum, Phnom Penh Post Office building, and Wat Phnom. Additionally, the Riverside area provides boat rides offering excellent views of Cambodia's skyline from the Tonle Sap River, with prices ranging from $3 to $5.BKK1 is another favoured district in Phnom Penh, renowned for its upscale community and an abundance of cafes, shops, shopping malls, and restaurants. Food enthusiasts can enjoy a wide range of international cuisine, while the location itself attracts foreigners and young locals. BKK1 is an ideal place for cafe hopping and exploring shopping centres like Aeon Mall Phnom Penh and Chip Mong Noromall. In addition, the Independence Monument, symbolising Cambodia's sovereignty and independence from French colonial rule, is also a must-see attraction while in BKK. For solo travellers seeking an exciting nightlife experience, Bassac Lane, also known as Phnom Penh's "Bar Street," is a must-visit destination. Located in the Bassac River District, this famous street is hidden in the city centre and offers a wide array of eateries, bars, and pubs. Travellers can enjoy craft beers, dining, live music performances, and the opportunity to socialise and meet new people.When it comes to shopping and immersing in the bustling local market scene, Phnom Penh's wet markets such as Russian Market, Central Market, Orussey, and BKK Market are the go-to places. They offer a wide variety of handicrafts, souvenirs, clothing, and authentic local street food. Navigating through their narrow alleys, bargaining with friendly vendors, and sampling local snacks will provide an unforgettable experience.Phnom Penh also boasts several modern entertainment venues worth visiting. The city's rooftop bars, offering breathtaking views of the skyline, have become popular choices for tourists seeking a memorable experience.One recent highlight in Phnom Penh's tourism industry is the recognition of the Rosewood Hotel located in Vattanac Capital. The readers of Travel + Leisure, one of the oldest international travel magazines, voted Rosewood Phnom Penh as the Best City Hotel in Asia. The hotel's exceptional facilities, prime location, outstanding service, gastronomy, and great value have contributed to its success. Rosewood Hotel, which is also home to the Sora Sky bar, offers a unique venue to enjoy the city from high above. Located on the 37th floor, its standout feature is the outside terrace, providing breathtaking views over the capital city. Another popular rooftop bar is the Lantern Rooftop Bar, situated atop the fabulous Baitong Hotel & Resort Phnom Penh, also located in BKK1. The bar's chic and charming atmosphere, contemporary lounge vibe, and comfortable seating arrangements create a perfect setting for enjoying craft cocktails and bites while overlooking the high-rise buildings.(Photo credit: Sora Facebook Page)Excitement is on the horizon as IHG Hotels & Resorts prepares to make an impressive addition to Phnom Penh's entertainment scene with the introduction of the prestigious Vignette Collection brand at Odom Tower. Situated on Norodom Boulevard, the hotel will occupy the top seven floors of Odom Tower, a 45-story office building. It will feature two remarkable restaurants and a breathtaking rooftop bar will provide a stunning setting to enjoy panoramic views of the cityscape. This sophisticated venue is destined to become a popular gathering spot, offering a stunning view of the city and becoming a favoured destination for both visitors and residents alike. Whether you are looking to buy or rent property in Phnom Penh, we have more than 40,000 listings on our website! Free Consultation Here

Realestate.com.kh is bringing back its massively popular Home & Lifestyle EXPO 2023. The event which is just one month away will be happening on the weekend of August 12 & 13, at Koh Pich Exhibition Centre.The Home & Lifestyle EXPO is part of Realestate.com.kh's annual events, offering attendees the opportunity to secure the best deals within the Cambodian market and also have the chance to engage with industry-leading banks, insurance providers, and real estate experts. The biggest names in property development across Cambodia will be on display including Borey Peng Huoth, OCIC, Orkide Development, Prince Real Estate Group, Morgan Group, RoseMarvel Property Development, Borey Dragon Land 598, Borey Bosba, Rose Apple Square, Odom, Bakong Village, Borey Chankiri, Leedon Heights, Le Condé BKK1, Creed Cambodia and many more. International developers and real estate companies will also be exhibiting at the event presenting opportunities to investors in Cyprus, Canada and the USA.Click here to register for express entry or inquire about being an exhibitor Win Big At The Home & Lifestyle EXPO 2023Apart from securing the best deals in real estate and other mid to high-end items, attendees will go into the draw to win some of the best prizes, including watches from Watch Empire, fine jewellery and more. During the two-day event, property developers and exhibitors will be providing exclusive incentives, freebies and more discounts and exclusive prizes to attendees and buyers attending the show. When, Where and What Time? The Home & Lifestyle EXPO 2023 will be held at the Koh Pich Exhibition Center. The EXPO 2023 will be held on August 12 & 13, Saturday and Sunday from 10:00 am until 8:00 pm both days. The Home & Lifestyle Expo 2023, Above and Beyond Properties & Services and Fun for the Whole FamilyLast year's expo proved to be an incredible gathering that attracted families and participants of all ages. Parents, children, and the elderly came together to spend a memorable day immersed in the world of real estate and lifestyle. “Last year’s event was our first since the pandemic, and was a huge success, beyond our and the exhibitors’ expectations. There are already 5,000 attendees registered to attend, and based on that we expect to break last year's record of 12,000 people.”“Ultimately, our goal is to give home buyers and investors an opportunity to get the best deals in real estate, cars and other items of the year. By adding attractions, kids' play areas, cars, an extensive food & beverage area and more it allows us to not only put on the biggest and best property expo but also to create an experience where people and families can have a great day out together. ” Mr. Tom O'Sullivan, CEO of Realestate.com.kh said.Click here to register for express entry or inquire about being an exhibitor A Series of Record-Breaking SuccessesThe most recent Real Estate EXPO held at the Premier Centre Sen Sok Phnom Penh in 2022 was a major success that broke the country’s biggest property sales event ever in Cambodia with a whopping more than $30 million in sales and attracted over 12,000 visitors. Cambodia’s Leading Boreys, Condos, Banks, Lifestyle & Corporate brands The who's who of Cambodia's property market and ancillary services are already onboard with more coming as the EXPO 2023 on August 12 & 13 draw closer.Major sponsors & key supporters include: IAAC Airport advertising, COGETEL (ONLINE), NHAM24, Legend Cinema, Wowee Advertising, Poma Media, Watch Empire, Provida Water, Cambodian Investment Management, B2B Cambodia, and Gold Zone Media.Exhibitors include: Borey Peng Huoth: The Eco Collection, The Star Polaris 23 Condominium, PH Grand Hall, Orkide Development: Orkide The Botanic City, Orkide The Pochentong, Orkide The Royal Condominium, Prince Real Estate Group: Prince Central Plaza, Prince Happiness Plaza, One Tropica, Morgan Group: Morgan Tower, Morgan EnMaison, Morgan Champs-Elysees, Overseas Cambodian Investment Corporation (OCIC), RoseMarvel Property Development: Mean Chey Residences, Urban Living Solutions: Rose Apple Square, Odom, Bakong Village, Urbanland: Borey Chankiri, Borey Dragon Land 598, MSQM ZTH: Leedon Heights, Le Condé BKK1, Residence H Sen Sok, Creed Cambodia, Borey Bosba, Chroy Changva Satellite City, Borey Heng Heang, Borey New Hope, Tourism City, Borey Mongkul, KH Land, ABA Bank, Canadia Bank, Shinhan Bank,  KB DAEHAN SPECIALIZED BANK, GAC Motor, ISUZU, Forthing, STMarket, ARISTO Developers, DeGrand Realty, Borey Mongkul, Upward Property, FazWaz Cambodia, Parc 21 Residence, eMedia Links, Simplex, Stronghold Trustee, Orkun Solutions, Hitachi Elevator, MOVE By LM CAR, DreamsTown and more.Media partners include: Khmer Times, B2B Cambodia, AmCham, Cambodia Investment Review, Property Area Asia, Gold Zone Media, The Cambodia China Times, Enjoy Cambodia, Business Cambodia, FreshNews, Koh Santepheap Daily, Kampuchea Thmey Daily, ThmeyThmey, CNC, BTV, PNN, Hang Meas, CTV, TVK, CTN, Jianhua daily.Click here to register for express entry or inquire about being an exhibitor The Home & Lifestyle EXPO is part of a series conceived by Realestate.com.kh’s founder Moek Chenda and the company’s CEO Thomas O’Sullivan with the vision of creating an event where buyers can secure some of the best deals in real estate. The event is completely free to attend, and apart from surveying the property market families can enjoy a great day out by visiting some of the attractions such as the latest in property technology, car test drive areas and kids entertainment zone.

In property acquisition, it is crucial to carefully assess the current market conditions to identify a favourable time for purchase. It is commonly known that property prices fluctuate based on the balance between supply and demand. While the Cambodian real estate market is currently displaying indications of oversupply, this situation may present advantages for certain buyers, considering the accompanying side effects it involves. In this article, we will explain why an oversupply of properties may have positive effects on potential buyers. Post-Covid Recovery Before the COVID-19 pandemic, the Cambodian real estate market witnessed a boom, resulting in the construction of residential and commercial units almost weekly. During this period, properties like villas and condos in Phnom Penh and Sihanoukville were in high demand and quickly sold out. This surge in sales can be partly attributed to the influx of Chinese investors and individuals looking to relocate to Cambodia. However, in the aftermath of the pandemic, there has been a decline in the number of Chinese nationals coming to Cambodia due to concerns about the safety of Southeast Asia and the real estate situation in mainland China. Consequently, several properties now on the market are available for acquisition.Tourism To Boost Real EstateAccording to a recent report from the Ministry of Tourism, several provinces in Cambodia experienced a significant number of visitors during the weekend of July 6 to July 9, 2023. Preah Sihanouk province drew approximately 61,380 individuals, while Battambang province welcomed 34,080 tourists. Phnom Penh received a total of 32,727 tourists, and Kampot province saw 28,137 visitors during the same period. Siem Reap province attracted 20,268 people, and Kandal province recorded 20,541 tourists. The recovery in the tourism industry after the COVID-19 pandemic is a positive sign that adds to the appeal of investing in property in CambodiaIn the first half of this year, Cambodia experienced a remarkable surge in international tourism, with 2.57 million visitors arriving in the country. This surge not only signifies a growing interest in travelling to Cambodia but also hints at a potential rise in future visits.As a result, it is crucial to acknowledge the increasing demand for commercial activities and accommodations to cater to these visitors. For those with financial means and a long-term investment goal, this offers a chance to enter the real estate market during a period of property availability.Oversupply Also Means a Wider Choice of PropertyThe oversupply of properties in Cambodia has had an impact on property prices, as developers are now driven to offer more affordable options to attract buyers. This situation has resulted in a reduction in property prices, creating an opportune moment for buyers to acquire properties with great prices. The increased affordability factor further enhances the attractiveness of investing in Cambodian real estate, particularly for those seeking long-term investments.Moreover, the oversupply of units in Cambodia has led to a wide array of choices for potential buyers. With numerous projects available on the market, individuals now have the opportunity to explore different options and select the unit that best suits their preferences, requirements, and budget. This abundance of choices empowers buyers to find a property that perfectly aligns with their specific needs, thereby enhancing their overall buying experience.Good Location For Good Investment When purchasing property, location is one of the most important factors to ensure its return on investment. Currently, Phnom Penh's central BKK area remains a highly desirable destination for visitors and expats seeking accommodation. This district, known for its urban development, offers many venues, restaurants, and attractions, appealing to tourists and residents. The area continuously improves, enhancing the overall experience for travellers and visitors alike. Currently, BKK, Chamkarmon, and their surrounding areas are the top choices for local buyers and investors, due to the ongoing success of developments delivering on capital appreciation and rental returns, even in a down market. Major developers to build residential and commercial projects. For example, Global Titan Stone Real Estate Development recently unveiled Picasso 2 in BKK, and ULS marked the beginning of construction for ODOM.As the current market is experiencing an oversupply of properties, it is important to note that research and look for reputable developers and seek advice from professional real estate agents and advisors.Cambodia's open economy makes it an appealing destination for individuals seeking to explore or invest in the kingdom. As visitors and investors keep coming, the oversupply of properties presents an opportunity for investors, and will gradually diminish, as the market leads to a more balanced market where supply and demand are more closely aligned. Therefore, those considering buying property in Cambodia should keep in mind that the current oversupply is likely to be a phase, and the long-term prospects for the real estate market remain promising. If you're a newcomer to property investment in Cambodia or eager to make an informed decision, reach out to our real estate specialist today for a consultation on the Cambodian property market. At Realestate.com.kh, we offer current insights and help customers find their dream properties every day.Looking for a property in Phnom Penh today! Contact our real estate experts to explore the best options that suit your needs and budget via our concierge servicesFree Consultation Here

At the start of the year, we tried to share some insights into the key economic and infrastructure development projects in Cambodia which had and have a real chance of igniting the long-term economic growth as the nation puts the pandemic in its rearview mirror. We are now beyond the halfway point of 2023 so we have revisited these projects and their progress as well as identified newly announced projects in the first half of 2023.Cambodian Trade and Economic GrowthThe Asian Development Bank and National Bank of Cambodia (NBC) both now forecasts that Cambodia’s gross domestic product (GDP) will grow by 5.5 per cent in 2023, which could place the country among the top three performers in terms of GDP growth in Southeast Asia. Even the cynics are optimistic about stronger performances from 2023-2024 with 6.6 per cent GDP growth predicted by the Ministry of Economy and Finance.Coming into 2023 the hopes for economic trade growth were probably largely pinned on Regional Comprehensive Economic Partnership (RCEP). In the first four months of 2023, Cambodian exports to RCEP countries did rise by 16 per cent. The Cambodia-Korea Free Trade Agreement (CKFTA) also came into effect in December 2022 and the addition of new FTAs (Free Trade Agreements) and with the important signing of the comprehensive economic partnership agreement (CEPA) with UAE, Cambodia is planting the right seeds for the future.This has been buoyed by clearer government-led strategic plans on logistics and modernising all logistics routes (land, sea, and air) with investments both local and foreign to try and transform the Kingdom to be a competitive trade and logistics hub.Cambodia’s economy is still reliant on the export of garments, tourism, agriculture and real estate and construction.The Cambodia Securities Exchange (CSX) is growing albeit slowly but H.E. Hong Sok Hour (CEO of the Cambodia Securities Exchange) is confident and with their aims this year to list more firms, double daily trading volumes to $1 million and triple the number of registered trading accounts to 15,000, Hour said that the average trading account is expected to increase by the end of 2023.The global fears of recession and inflation (throw in the ongoing Ukraine conflict, the energy crisis in Europe, and what has to date been an underwhelming Chinese economic recovery) have all dampened growth but Cambodia remains well-placed to see one of the fastest GDP recoveries.Cambodian Airport Developments & Rebounding Tourism & FlightsThong Khon, Cambodian Minister of Tourism (MoT) expects the Kingdom to attract 4.5 million international tourists in 2023 and is hopeful that this figure will reach over seven million tourists by 2025-2026. The official figure for visiting international tourists for the first half of 2023 was 2.57 million, the MoT confirmed. This period does include the SEA Games & ASEAN Para Games which helped spike inbound tourism numbers, nevertheless, the Kingdom is still on track to reach the MoT expectations. These goals are also only possible by the renewal of affordable and frequent flights, and to date, more flights have been announced with several international airlines scheduling the return of routes in the second half of the year too. So far in 2023, approximately 910,000 foreign tourists visited Cambodia by air, 1.63 million by land, and 30,000 by waterways.Announced in 2022, the launch of Air Asia Cambodia operations is apparently still on track for the backend of 2023 while multiple new flight routes are under constant discussion with key destinations such as India, Japan, the Gulf and elsewhere.In terms of the progress of the multiple new Cambodia airports under development, this is the latest by July 2023:Techo Takhmao International Airport - Construction is underway and the first phase is targeted to be operational by March 2025.(New) Rail Link to new Phnom Penh Airport - The Minister of Public Works and Transport (MPWT) announced in July 2023 that they are exploring an underground light rail transit to connect the airport to the southern part of the capital.Angkor Siem Reap International Airport - Due to be operational before the end of the year, a provisional official inauguration date was set for October 2023. The airport was 98 per cent complete by the end of June 2023.Koh Rong International Ecotourism Airport - Announced at the start of 2023 there has been hardly any news since.Dara Sakor International Airport - Delayed in 2022 and delayed again in 2023, the latest news in June suggested the developers had not completed construction to meet standards of aviation safety, according to the State Secretariat of Civil Aviation.A Resurgent Sihanoukville?Coming into the year, there still seemed to be some scepticism about how the coastal Cambodian city could be rejuvenated and the plans were still in development for transforming the Preah Sihanouk province into a model multi-purpose special economic zone. This is intended to form a key cog of the roadmap to develop the area into as part of the National Industrial Development Policy 2015-2025.Although the exact roadmap is not crystal clear, projects such as the Bay of Lights by Canopy Sands Development (which was also showcased in the Middle East this year), and the announcement of plans to tackle the unfinished buildings were laid out in 2023 - but if successful, the project will take several years to complete.2023 Cambodian Infrastructure Projects SnapshotThe ongoing infrastructure investments from the Cambian government in addition to private-public investments are one of the main reasons there is an optimistic mood for the future.Koh Pich-Koh Norea bridge - Construction has reached 85 per cent and the bridge is expected to be completed in November 2023 (Updated in July 2023).Korea-Cambodia Friendship Bridge - Final assessments were completed in 2022 and the expectation was for the construction to start in the second half of 2023 but there has been no official update for many months.Phnom Penh-Bavet Expressway - Construction officially got underway on June 7th 2023 and the second groundbreaking freeway won't be completed until 2027.Phnom Penh-Siem Reap Expressway - A feasibility study is underway, due to be completed in 2023.Phnom Penh-Poipet Express Railway - Study completed to increase the speed to approximately 160 km per hour.Phnom Penh to Preah Sihanouk Railway - Study is underway to upgrade this line.Kampot International Tourism Port - Although reported as completed in 2022, by July 2023 there is still a need to deepen the port’s waterway before it can be operational.Kampot International Port & Logistics Centre - Construction got underway in 2022 and the port’s first phase operations are due in 2025.Funan Techo Canal - Rumoured at the start of 2023 and finally confirmed with its name, this is a game changer for interconnectivity or the transportation of goods and to decrease costs. Launched in 2023 and not due to be completed by 2027.Sihanoukville Autonomous Port (PAS) - Long delayed but the Japanese-financed Sihanoukville container terminal expansion got underway in May 2023.Koh Kong Province’s International Seaport - due to be launched in the second half of 2023.Real Estate in Cambodia OutlookThe year has been challenging but there are green shoots for the property and construction sector. There is a sentiment that buyers and interested investors are being spread across more countries, and we think diversification is great.In June 2023, the Ministry of Land Management, Urban Planning and Construction reported that Cambodia's construction sector attracted investment worth USD $2.27 billion in the first five months of 2023, a year-on-year increase of 138 per cent. The retail and commercial property sectors are under some pressure, as are condos due to the impressions of oversupply. However, the key investment traits of anticipated growth due to the country's young population and increasing urbanisation, and the positive view of Cambodia as an investment destination continue to provide optimism for the long-term.

The inauguration of the Sihanoukville Tourism Port is expected to have a positive impact on the tourism industry in the coastal city. The port, officially launched on 6th July, can accommodate up to 20 small and large tourist boats simultaneously. Covering an expansive area of approximately 22,000 square meters, the port has been granted investment rights to GTVC Import Export, which also provides daily shuttle ferries from Sihanoukville to various beaches in the area. This spacious facility offers tourists a convenient gateway to popular islands Koh Rong and Koh Rong Sanloem.The increase in tourism could potentially stimulate the real estate sector as developers seize opportunities to construct hotels, resorts, and other accommodation options to cater to the growing number of visitors. Furthermore, the rise in tourist arrivals is expected to drive the growth of commercial activities, including new cafes, restaurants, souvenir shops, and other retail establishments that cater to the expanding tourist market.A significant factor contributing to the anticipated growth in tourist numbers is the completion of the expressway to Sihanoukville in October 2022. The newly constructed expressway has considerably reduced travel time by half. Previously, visitors had to endure an approximate five to six hours journey, but now, with improved connectivity, tourists can reach the city faster and more conveniently. The expressway not only enhances accessibility for domestic and international travellers but also establishes a more efficient transportation infrastructure for the region.With improved connectivity provided by the expressway last year, Sihanoukville is poised to become a prominent tourist destination and transform into a tourism hub. The city's potential for growth is substantial, presenting an opportunity for investors and entrepreneurs to capitalise on the increasing demand.If you are interested to see properties in Sihanoukville, click belowClick Here

A groundbreaking ceremony was recently held to mark the commencement of a noteworthy construction and development project in Daun Penh. The project, by EDCPO (Cambodia), a local developer, involves the establishment of an underground car park, shopping mall, restaurant, and various other services within a public park near the old market in Wat Phnom. The government has approved the investment in this mixed-use commercial within the Daun Penh district.The primary objective is to address the issue of limited public parking spaces in the city while simultaneously creating new avenues for business growth. The approved plan encompasses the construction of a four-story building spanning an impressive area of 33,120 square meters. Two of these floors will be thoughtfully designated for parking, providing ample room to accommodate 516 vehicles, while the remaining two floors will be occupied by a supermarket and restaurants.Daun Penh has emerged as a prominent junction and a thriving residential-commercial hub at the heart of Phnom Penh. The district experiences a constant stream of traffic encompassing diverse sectors such as banking, finance, modern trade services, warehousing, product distribution, and multi-faceted trading. These dynamic activities have contributed to the city's overall liveliness. Consequently, the construction of public parking facilities, along with complementary commercial development, is deemed a favourable solution for mitigating traffic congestion and supporting Phnom Penh's growth.Overall, this project is set to contribute significantly to the growth and development of the Daun Penh district, further establishing it as a commercial and residential hub within Phnom Penh.  If you are interested to see properties in Daun Penh, click here  Click Here

With the trend of multiple new shopping mall projects being launched across Phnom Penh as well as some developers targeting other cities such as Sihanoukville, there are increased options for retailers and shoppers in Cambodia.There does remain the genuine concern of oversupply in the retail space with so many malls entering the market and we have previously heard insights from local experts such as The Mall Company (TMC) on the need for diversification in the shopping experiences.For franchises and retailers, tenants have increased options and choices in lease terms and even condition negotiations as malls compete to attract tenants within a competitive market.Community Malls have been a popular retail class with many developers and other smaller affordable retail podiums and arcades are also popping up in new targeted development areas. The latest TMC report indicated:32 community malls currently contribute nearly 200,000 sq.m (Net Leasable Area) of modern retail space in Phnom Penh.More than 200,000 sqm (NLA) is also in the pipeline.We look at just some of the new retail and mall spaces that are due to open in Phnom Penh and one location in Sihanoukville - the jury will be out on whether the designer and developers fully appreciate retailtainment and the shopper's experience when these are all launched. Koh Norea ParkwayKoh Norea Parkway is a development from OCIC and essentially is a developed public space with retail units available along the river banks in Koh Norea, which OCIC are developing as part of a massive USD $2.5 billion project.The Koh Norea Parkway will see Chbar Ampov get a riverside boardwalk which should benefit the community and visitors as open public spaces remain a rarity in Phnom Penh. We also saw the Ground Market open in Koh Norea earlier in 2023. The OCIC retail project will include 20 outlets (which vary between 40/120/150 sqm) along the Mekong’s river bank which stretches for 4.2 kilometres. OCIC says the retail space is inspired by nature and will blend with the backdrop of the river and artist impressions indicate there will be greenspaces, water features, as well as picturesque photo opportunities.So what's in store for the shopper and diner? Among the potential outlets will be craft beer & seafood, barbeques, a bakery, drink and cafe outlets, souvenir stores and more with details to be confirmed. The retail shops and landscaping have been completed but they plan to open Koh Norea Parkway to coincide with the official opening of the $40 million bridge.The soon-to-be-completed bridge linking Koh Pich to Koh Norea is expected to be ready by December 2023 offering easier connectivity for those living in the area and for visitors.Due: Q4 2023Area: Chbar Ampov - Koh Norea Development, Phnom PenhSokha Plaza MallAnother new commercial retail mall, Sokha Plaza Mall, is situated in Daun Penh and close to the National Museum, The Cambodian Royal Palace, schools, hotels, and within walking distance to popular tourist attractions near the Phnom Penh riverside. Sokha Plaza Mall aims to offer a community space for families and friends and be a destination for meals, shopping, and entertainment through its 44 shop units covering a total of 2,000 sqm. There will be parking for 149 cars as well as 212 motorbikes.The area is immediately surrounded by a busy residential neighbourhood and offices near the mall in the heart of central Phnom Penh and opposite the iconic Wat Ounalom.In addition, the Sokha Group plans to move their businesses which include Sokha Real Estate and Sokimex to the Sokha Plaza which will further increase trade and foot traffic to retailers.The design of the mall includes a large open space (plaza) which can be used for hosting events.Due: Q3/4 2023Area: Daun Penh (intersection of Streets 13 and 154), Phnom PenhSakura Avenue Another OCIC project is located in Chroy Changvar - the small lifestyle & community food and beverage Sakura Mall forms part of their Chroy Changvar Satellite City project in the area to the northeast of the capital of Phnom Penh.The community mall covers 7,947 sqm (gross floor area) and there are car parking spaces for 150 vehicles as well as 200 motorbikes (motos).The retail space can accommodate just over 30 outlets and includes some popular and well-known franchises such as Starbucks, Park Cafe, Amazon, and Bonchon but the Sakura Avenue is currently only 50 per cent occupied.The mall’s design is inspired by the Sakura tree and the location was “established to bring together business people who are interested in providing food services together to national and international guests”, says OCIC.Chroy Changvar has become increasingly popular among both local residents and expatriates and the area boasts a range of amenities, including schools, hospitals, shopping centres, and recreational facilities.Due: Currently OpenArea: Chroy Changvar, Phnom PenhMean Chey Avenue Community MallMean Chey Avenue Community Mall is designed as a lifestyle destination and offers retail, leisure, and entertainment. Situated along the popular and competitive Samdech Techo Hun Sen Boulevard (60m Avenue) - it's currently one of the larger community malls in the area. The mall is around 70 per cent complete, according to the developers, but has confirmed Tube Coffee and Brown Cafe as lessees with more coming to occupy the nearly 13,000 sqm of retail space and 55 retail units available. Entertainment, food and beverage, a supermarket and other service and retail stores are being targeted. There are more than 1,000 parking spaces for cars and motos available at the community mall but there are also green spaces and a children's playground to cater for customers, families and visitors.Meanchey is seeing massive changes and is one of the fastest growing areas in the Cambodian capital - over the past year it has seen the opening of AEON Mean Chey (AEON 3) and the new Chip Mong 271 Mega Mall while other malls include the 60 Avenue Shopping Mall & Water Front Community Mall (under development).AEON Meanchey and Chip Mong 271 together supplied the market with 140,000 sqm NLA in 2022 which represented 57% of the total retail NLA supply!Due: Q4 2023Area: Samdech Techo Hun Sen Boulevard (60m Avenue)SIhanoukville - DRF-Mart New MallAlthough currently with no official name, a new mall was approved and announced by the Council for the Development of Cambodia (CDC) in June 2023 for DRF-Mart Fa Dao Jia Trading Co., Ltd. to develop a USD $14 million mall in Village 4, Sangkat 4, Sihanoukville. The project would create 227 job opportunities but little has been announced aside from the inclusion of DRF-MART supermarket and that the developers want the space to “provide world-class shopping experiences and meet the evolving needs of consumers in Sihanoukville and beyond.”We will have to watch this space for more information but currently there are surprisingly few shopping malls in the Cambodian coastal city which has undergone massive changes over the past decade.Due: TBCArea: SihanoukvilleThe previous TMC Retail Insights report suggested 9 modern retail centres are expected to be completed by 2024, with a further 72 Retail Centres by 2026, even with tourism numbers expected to rebound to pre-COVID levels by then (nearly doubling the current 4 million), it still represents a massive supply of retail space entering the Cambodian market. Now we will have to see if the uptake and demand is there from the consumer and retailers.

The real estate industry plays a vital role in the global market, and understanding the latest trends within this sector is crucial for investors and homeowners alike to make informed choices. Real estate trends have far-reaching implications for economic growth, reflecting changing demographics and shifting consumer preferences. One prominent trend in recent years has been the growing demand for green spaces in both residential and commercial properties. As people become more aware of the importance of the environment in their well-being, the demand for eco-friendly buildings, green infrastructure, and access to nature has steadily increased. This shift in preference highlights buyers' changing behaviour when purchasing property, and Cambodia is no exception.The Importance of Green SpacesThe significance of green spaces lies not only in their aesthetic appeal but also in their ability to enhance the well-being of residents, mitigate the effects of climate change, and promote sustainable living. Developers are increasingly incorporating parks, gardens, rooftop greenery, and other natural elements into their designs, fostering a relationship between nature and urban infrastructure. Furthermore, environmentally friendly designs, such as energy-efficient buildings, renewable energy systems, and sustainable materials, have become crucial in reducing carbon footprints and achieving long-term sustainability goals. The importance of green spaces and environmentally friendly designs in real estate reflects a global shift towards a greener and more sustainable future.Cambodia's Real Estate Market and Green Space Challenges(Picture Credit: OCIC Facebook Page)In recent years, Cambodia's real estate market has experienced significant growth and development, making it an attractive destination for both local and foreign investors. Major cities like Phnom Penh, Siem Reap, and Sihanoukville have witnessed remarkable transformations through the construction of high-rise buildings, commercial complexes, and residential projects. However, rapid urbanisation and population growth have also led to the reduction of open green areas, posing significant challenges in urban planning and green space development. Nonetheless, some developers have started to embrace the trend of creating green alternatives, incorporating community-focused spaces and large areas of greenery. Examples include the ODOM Tower, offering over 7,000 square meters of green space open to the public, the OCIC's efforts in enhancing green spaces with projects like Coconut Park and Norea City, and the quality mixed-development Angkor Grace in Siem Reap, offering a resort-like lifestyle. Opportunities for Real Estate Developers and InvestorsCambodia presents opportunities for real estate developers and investors, particularly those seeking long-term investments. As the country recovers from the pandemic, positive signs are emerging, with the tourism sector thriving and Cambodia gaining popularity on the global map as a destination in Southeast Asia. The projected number of international tourists for this year stands at 4.5 million, as reported by the Ministry of Tourism. As Cambodia aims to become a high-middle-class country by 2030, there is a potential to attract a more demanding audience looking for modern, well-designed commercial and residential properties, as well as greener spaces. This presents a lucrative market for developers and investors who can cater to the evolving needs of the emerging middle class and both local and international tenants. With the right strategies and foresight, real estate ventures in Cambodia hold great potential for long-term success. If you are looking to visit a property in Phnom Penh, try our free concierge service hereClick Here

Global Titan Stone Real Estate Development recently unveiled Picasso 2 with the appearance of branded hoarding on the prime corner of Street 57 and Street 282, as well as on their Facebook page. Following the remarkable success of Picasso 1 City Garden in BKK 1, their first large condo development comprised 30 storeys, which achieved significant sales and was completely sold out within a few months of its launch. The success of Picasso (1) City Garden can be attributed to several factors. Firstly, the developer, Global Titan Stone Real Estate Development, is a well-experienced and reputable company known for delivering high-quality projects. Their commitment to completing Picasso City Garden during the pandemic contributed to the favourable reception and popularity of the project among buyers.Another key aspect that contributed to the success of Picasso (1) City Garden is its high return on investment. The project proved to be a lucrative asset for investors looking for profitable opportunities, with potential for capital appreciation and rental yield due to the high demand in the area. One-bedroom units with a size of 45 sqm start with a rental price ranging between $1,250 per month to $1,450 per month, offering an attractive 8% expected rental return. The combination of a well-constructed development in an ideal location increases the potential for a substantial return on investment, making Picasso City Garden an appealing choice for discerning buyers.(Picture credit: Picasso City Garden Facebook)As mentioned earlier, the location of the real estate development also played a significant role in its success. Picasso (1) City Garden is situated in the BKK1 district, in close proximity to other condominium projects, five-star hotels, shopping centres, and commercial and business hubs. Besides being a residential project, it also functions as an international business complex. The 27-floor building integrates various amenities and facilities, including the Picasso garden, banquet hall, landscape fountain, infinity pool, paddling pool, gymnasium, meeting room, international business office, wine lounge, Casa Picasso restaurant, Casa Picasso café, and Picasso art auction centre. The combination of all these features aims to provide residents and visitors with a unique and enhanced living experience.Picasso 2 is also located in the surrounding neighbourhood of BKK1 and remains a highly sought-after location by ex-pats, locals, and tourists visiting the Kingdom, as it offers convenient access to various amenities and business opportunities.With the success of Picasso (1) City Garden, Global Titan Stone Real Estate Development sets a promising foundation for Picasso 2, which is poised to become another landmark in the high-rise real estate landscape. Drawing from the developer's track record, buyers can anticipate top-class amenities, generous public spaces, and a high standard of property management.Curious to see Picasso City Garden listings? Click here to explore the available options and find your perfect living space in the heart of Phnom Penh.Click Here

Phnom Penh is drawing in an increasing number of domestic and international individuals to its capital city each year. With rapid urbanisation attracting more Cambodians to the city for education and job-related opportunities, it has been converting into a main economic and cultural hub. Phnom Penh has become a focal point for investors interested in the real estate market. Realestate.com.kh closely analysed its current rental market in Phnom Penh, based on the overall leasing in the first half of this year.The three most sought-after areas are BKK District, Tuol Kork District, and Chamkarmon.BKK District is still the ideal location for property seekers when looking for a rental.  Situated in the heart of the city, the district bustles with commercial activity, boasting a wide array of shops, restaurants, and entertainment venues that attract a diverse population of young individuals and foreigners.Tuol Kork District is a prestigious residential area located to the west and northwest of the centre of Phnom Penh. It is highly sought by families due to its proximity to educational institutions and retail areas. Tuol Kork is well known for its large number of villas and an increasingly growing number of boreys. Chamkarmon is a large district located to the south of central Phnom Penh. It is experiencing rapid development and offers modern residential and commercial facilities, making it an increasingly popular choice for renters. In particular, Tonle Bassac and Toul Tum Poung (known more commonly as Russian Market) are very popular with ex-pats, whereas Boeung Trabek and Phsar Doeum Thkov are still more Cambodian-centric. When it comes to housing options, apartments and villas dominate as the preferred choices for tenants. Here's a breakdown of the rental prices for most properties in the three major rental areas:Apartments:BKK District: Starting from $750 per month Tuol Kork District: Starting from $500 per monthChamkarmon: Starting from $500 per monthVilla: BKK District: Starting from $3500 per monthTuol Kork District: Starting from $2000 per monthChamkarmon: Starting from $2500 per monthDespite an oversupply in the real estate industry in Cambodia, there has been a notable upward trend in rental transaction volume on Realestate.com.kh. A comparison between the same period from January-June 2022 to January-June 2023 reveals a steady increase, indicating a positive trajectory in the first half of this year.In terms of rental demand, one-bedroom and two-bedroom units are the most common choices. One-bedroom units cater to the housing needs of single tenants or couples, while two-bedroom units are preferred by those with stronger financial capabilities, often utilising the additional room as a home office. Long-term leases, spanning six months or more, are favoured by the majority of tenants. Such arrangements provide a stable living environment and also cost savings and hassle-free relocation.Key Factors When Choosing A Property When tenants are choosing a rental property, they carefully consider multiple factors. The location of the property plays a vital role, with a preference for areas that offer convenient transportation options and a wide range of amenities. In addition, tenants place importance on the quality of facilities and interior design, often seeking modern furnished properties. The affordability of the rent also has a significant impact on their decision-making process, as they strive to find a suitable residence that fits within their budget.Moreover, the surrounding community and environment also influence tenants' choices. They seek out peaceful locations that are free from disruptive noise caused by neighbouring renovations. Other factors taken into account include pet-friendly policies, the availability of free parking, the standards of property management, the size of the property, internet speed, and proximity to schools. All of these considerations contribute to the final decisions made by tenants when selecting a rental property.As Cambodia sets its sights on becoming a high-middle-income country by 2030, it has the potential to attract tenants with more demands, therefore understanding their needs is essential for successfully leasing a property. If you are looking to visit a property in Phnom Penh, try our free concierge service Click Here

Cambodia and the United Arab Emirates recently signed a comprehensive economic partnership agreement (CEPA) which will assess opportunities in trade, investment, connectivity, energy, agriculture and logistics among others and both parties are confident that the agreement will increase bilateral ties and trade.Cambodia’s Minister of Commerce Prak Sokhonn and UAE Minister of State for Foreign Trade His Excellency Dr Thani bin Ahmed Al Zeyoudi signed the agreement which was witnessed by Cambodia’s Prime Minister Hun Sen. These new trade and economic agreements are important for the Kingdom as the country needs to continue its diversification of economic partners and avenues for investment. This is crucial not only for the growth of the four current economic pillars of tourism, agriculture, construction and manufacturing/garments but for tapping into technological and trade partners who can help Cambodia implement its ambitious broad digital policies and technology frameworks and open up new investment corridors.Diversification of Trade and InvestorsUndoubtedly, China’s investment has greatly contributed to the socio-economic development in Cambodia but for the Kingdom to thrive it needs to increase tapping into new trading partners and attract FDI from new sources without burning bridges with existing partnerships.A snapshot of selected data in 2023 suggests some areas for concern despite the overall optimistic GDP and economic growth for Cambodia this year and in the future. While 2023 GDP predictions have been revised down slightly, they are still double those of global predictions as potential recession fears remain in the US, Europe and China.Comprehensive Economic Partnership Agreement - Cambodia & UAEAl Zeyoudi said the agreement with Cambodia marked a new milestone in their foreign trade and strengthened their growing role in the east-west trade corridor - the UAE plans to expand into the growing economies of Southeast Asia. Currently, the UAE invests USD $3+ million in Cambodia, while the Kingdom invests approximately USD $1 million in direct foreign investment in the UAE.The CEPA agreement aims to more than double non-oil bilateral trade between Cambodia and the UAE by 2031.CEPA hopes to boost trade from USD $407 million in 2022 to $1 billion, said UAE’s Economy Ministry.Metals and minerals are projected to account for 73% of UAE exports by 2030 and the UAE is one of Cambodia’s top trading partners in the Arab world, accounting for 70% of its trade with the region in 2022.Bilateral trade should see an increase of exports to the UAE from Cambodia for grains, fruits, meats, clothing and leather goods while imports from the UAE will include machinery, oil and lubricants among others as the pair look to facilitate investments, open market access to services exports, and create more opportunities for businesses to forge partnerships.Once ratified, the UAE-Cambodia CEPA is expected to be enacted before Q4 2023, so what opportunities will we potentially see?Property Developments Canopy Sands Development, the master developer of the massive coastal project in Cambodia, showcased its 934-hectare development, the Bay of Lights, at the Annual Investment Meeting (AIM) 2023 Congress in Abu Dhabi in May which saw 10,000 participants from 175 countries.Canopy Sands Development's mission is to attract global capital flows and global financial institutions to Cambodia. The Bay of Lights development partner is Prince Real Estate Group and its CEO Edward Lee said that Cambodia, located where it is within Indochina geopolitically and as an emerging economy, stands out as one of the most open and investor-friendly nations.“However, Cambodia needs to start being more proactive in reaching out to new markets such as Indonesia, Malaysia, and the Gulf Cooperation Council and connect with investors, businesses and tourists to promote, educate and attract them to come to Cambodia to study and consider the Kingdom as a platform to enter the regional market. The current regulations which allow for foreign investment and ease of doing business in Cambodia are excellent for new investors in the region”, added Lee.Tom O'Sullivan, CEO of Realestate.com.kh,also joined Prince Real Estate (Cambodia) Group Co., Ltd. and Belt Road Capital Management to promote Cambodia as the next investment hub in Southeast Asia. The GCC is a regional union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Lee said: 'The Gulf Cooperation Council businesses can use Cambodia as a platform to reach regional business and new markets and this will hopefully help to spur on new dynamic growth.’Customs and Market AccessDubai Customs announced changes to customs policies following trade deals between the UAE and a number of nations which include Cambodia. The Gulf state with India, Israel, Indonesia, and Turkey has also signed other agreements.The customs authority has established “specialised customs centres and departments to ensure smooth flow of goods and services,” Gulf Business reported. The changes implemented will support CEPA in reducing or removing tariffs, "eliminating barriers to trade, and creating new avenues for strategic investment”.CEPA also guarantees improved access for UAE products to the Cambodian market and covers 92% of customs tariff lines and over 93% of the value of non-oil trade.Al Zeyoudi wrote recently; “In practice, this means Cambodia’s manufacturing sector can leverage the UAE’s unrivalled global connectivity and world-class logistics infrastructure to seamlessly serve new markets – not only in the Middle East but into Africa and Europe.” New Property BuyersAlthough not specific to the GCC, a recent report suggested that the return of foreign visitors has accelerated demand for rental housing. In Sihanoukville for example, this has led to increased rental costs and Chinese investors are major players in the Preah Sihanouk real estate market - which was the case pre-pandemic.Interestingly, the Ministry of Tourism also claims that Indonesians have seen the biggest rise in “business” travel to Cambodia, rising from nearly 6,000 in Q1 2019 to 23,000 in the same period of 2023. Thais meanwhile, comprise the largest number of visitors to Cambodia in 2023 - so developers need to be aware of the audiences they are targeting.Inbound Travellers and TourismThe UAE had also announced that it is looking into the potential of tourism investment opportunities in Cambodia and AI Zeyoudi agreed that Cambodia was undergoing rapid development in all sectors.Thong Khon, Cambodian Minister of Tourism confirmed that Cambodia expects 4.5 million international tourists in 2023 with more than 2 million confirmed in the first five months so far. The Ministry is hopeful that this figure will reach over seven million tourists by 2026. Al Zeyoudi added that tourism is a high-potential sector and that their hospitality expertise and development knowledge will assist in reviving the sector with new experiences and offerings.” Mastercard Economics Institute’s Travel Industry Trends 2023 also suggests that new experiences are in demand among travellers post-pandemic.Finally, with the Paris Air Show this past week, one of the world’s newest airlines, Saudi Arabia’s Riyadh Air, made its international debut. With new airports and routes a priority for Cambodia, the airline will launch its first commercial services in early 2025 so this could be an interesting development for Cambodia - especially as the airline has the support of the Saudi government’s $650 billion Public Investment Fund (PIF).In addition, IndiGo, the Indian low-cost carrier announced an order of 500 Airbus A320 - the largest aircraft order in history, while 470 aircraft were ordered by Air India earlier this year. India is another vital market that the Cambodian government and businesses are actively pursuing and something which the Asian Development Bank in its report, “Southeast Asia’s Aviation Sector: Post-Pandemic Strategies and the Implications of a Rapid Recovery” urged for Cambodia as it taps into new markets including Japan, and the Republic of Korea.There are several concurrent exciting developments in the works and with the potential of new embassies and trade globally, Cambodia is forging partnerships for long-term economic growth.

The Real Estate and Mortgage Regulator (NRPC) in Phnom Penh has recently made an announcement regarding several housing development projects. The NRPC has identified four Boreys operating without the necessary licenses, putting potential buyers and renters at risk. This article highlights the importance of verifying key aspects before engaging with developers and offers recommendations for protecting one's interests.The following Boreys have been identified by the NRPC as operating without licenses:Borey TV Star in Sangkat Prey Sor, Khan Dangkor, Phnom PenhBorey Try Kim Kour Srov in Sangkat Prek Kampus, Khan Dangkor, Phnom PenhConstruction of LV apartment in Sangkat Choam Chao, Khan Por Sen Chey, Phnom PenhBorey THE ROYAL GARDEN in Sangkat Kraing Thnong, Khan Sen Sok, Phnom PenhIn response to these unlicensed housing projects, the Real Estate and Mortgage Regulator has issued a warning to the public. Potential buyers, sellers, and renters are urged to exercise caution and be vigilant when dealing with these developments. Failure to obtain the necessary licenses raises concerns about the legality, quality, and overall security of the properties involved.To protect oneself from potential disputes and fraudulent activities, it is essential to conduct thorough investigations and verification before engaging with any developers. The following checklist outlines key aspects that should be confirmed prior to buying a property: Verify Ownership (a.k.a Title)Ensure that the property of interest is legally owned by the seller or developer. Request the official document, known as the title or deed, which confirms ownership, location, and rights associated with the property. To understand more about the property title read our extensive guide hereDevelopment Company RegistrationVerify that the development company has registered with the relevant ministries and obtained the necessary approvals before commencing construction. Request to see their company registration documents as proof of their legality.Master PlanA well-thought-out master plan is crucial for any new development project. Developers should present a detailed plan to the ministry, demonstrating the project's potential for success in the future.Construction LicenseCheck if the company responsible for construction has undergone a thorough background check by the Ministry of Land Management. Only registered construction companies are permitted to build units and infrastructure, and they should possess a valid construction license.Sales LicenseApart from the construction license, a sales license is equally crucial for property purchases. This license grants developers the legal authority to sell properties to prospective buyers. Ensure that the developers have obtained the necessary approvals to market and sell the property.Review AgreementsThoroughly review all contracts and agreements related to the property transaction, including the sales and purchase agreement (SPA), lease agreement, and any other legal documents. Understand all terms and conditions, payment schedules, transfer of ownership details, and any relevant clauses. If you are looking for reliable real estate agents in Cambodia, reach out through our concierge service for free Click Here

Kep Province, once known as a tranquil coastal retreat, is now experiencing a transformation with four major development projects that are reshaping its landscape and attracting visitors from far and wide. These projects promise to revitalise the province and establish it as another touristic destination in Cambodia. Rabbit Island New Port One of the significant projects that are set to change the face of Kep is the Rabbit Island New Port. Completed on 19th January 2022, this tourist pier replaces the old one at $1.2 million. Stretching 306 metres long and 68 metres wide, the new pier extends from the coast into the sea with a water depth ranging from 3 to 4.70 metres. It can accommodate boats carrying 200 to 300 tourists, opening up opportunities for more visitors from neighbouring countries to explore Kep Province. This development is expected to generate economic benefits and contribute to the growth of the local economy.New Landfill SiteIn a bid to address waste management and promote environmental sustainability, a new landfill site has been established in Kep. Officially inaugurated on the 30th of May 2023, this landfill project was made possible through the Asian Development Bank's Greater Mekong Subregion Tourism Infrastructure Development Project Phase II, with an approved budget of approximately $30 million. Spanning an area of 14 hectares, the landfill caters to the waste disposal needs of Kep City's residents as well as tourism-related establishments, including restaurants, hotels, guesthouses, and markets. This initiative will improve the overall cleanliness and hygiene of the area. New Beach Development ProjectTo provide an enhanced beach experience for visitors, a new beach development project has been undertaken. The original beach, which was only 350 metres long and often overcrowded, is being expanded into a 2700-metre public beach. Stretching from the Crab Market to the mangrove area, this beach project is part of the government's vision to transform Kep Province into a premier tourist resort. By focusing on the development of the city, beaches, islands, markets, ports, tourist areas, residential areas, and tourism-related services, Kep aims to attract travellers from all corners of the globe. The extended beachfront will offer ample space for relaxation, recreation, and enjoyment, elevating Kep's reputation as a sought-after coastal destination. To explore Kep and its surroundings further, click here to access our location profile of Kep.Kep Coastal Road In addition to these developments, the construction of the Kep coastal road is set to bring about a transformative change. This project, spanning a length of 12.75 kilometres, will connect the Rabbit Island Port to Angkol Beach. With a construction period of 22 months, the coastal road has received support in the form of a $10.5 million loan from the Asian Development Bank. In addition to the road infrastructure, the project includes the construction of sidewalks, bicycle lanes, and the planting of palm trees, creating an inviting and scenic route for travellers. Once completed, this coastal road will facilitate convenient access for both domestic and international tourists to various attractions within Kep Province. Moreover, it will play a crucial role in bolstering the province's tourism industry, enabling further growth. If you are looking to rent, buy or sell properties in Kep and its surroundings, reach out to us!Click Here

The Realestate.com.kh Home & Lifestyle EXPO 2023 returns to the capital from 12-13 of August 2023 at the Koh Pich Exhibition Centre. The two-day property, home & lifestyle show follows on from a hugely successful event in 2022 in which USD $30 million worth of property was sold!The EXPO has a reputation for attracting Cambodia’s leading experts and brands and will showcase the finest properties, developers, banks, and insurance providers in Cambodia. This year, more amazing exclusive deals and promotions will be on offer from the Kingdom’s leading borey and condo developers, while other essential and sought-after services will be exhibited with show-exclusives for your home needs!In terms of attendees, the Home & Lifestyle EXPO 2023 is a popular calendar event and draws middle-class and affluent Cambodians, expatriates and foreign property investors, as well as guest VIP surprises who are on the hunt for the best boreys, condos, villas, and land in Cambodia.“Last year was our first event post-COVID and attracted over 12,000 people and 100+ exhibitors. This year we have had to change venues to Koh Pich to accommodate more attendees and exhibitors,” said Tom O’Sullivan, CEO of Realestate.com.khWhat You Need To Know For The 2023 EXPORealestate.com.kh’s Home & Lifestyle EXPO 2023 is an all-encompassing event that deals with all things property as a focus but also has terrific coverage of lifestyle and home products, services and more.This year, renowned property developers who will be exhibiting include: Borey Peng Hout, Prince Real Estate Group, Morgan Group, Orkide Development, Le Conde, J-Tower 3, Dragon Land, Borey Bosba, Leedon Heights, KH Land, and many more. The Cambodian property market buying sentiment in early 2023 was still strong among investors and home buyers. In the 2023 Realestate.com.kh Cambodia Real Estate Survey:A third of respondents were looking to buy property in the next 18 months.Nearly 15% indicated they were looking to buy more immediately (within 6 months).Over 60 per cent felt property prices in Cambodia will increase over the next year, and a similar number felt property prices are currently affordable in the market.Homeseekers and investors will be able to purchase sought-after properties at the best deals ever available from the developers and agents.“Not only will the event include all the leading property developers, but also 100’s of the best resale properties under market value and other industry-related products and services” added Steff Khiem, Marketing Manager of Realestate.com.khLeading Home and Lifestyle BrandsCambodia’s leading banks and insurance companies will be exhibiting - so keep an eye out for special loan offers and essential coverage for your home and other property needs. There also promises to be massive deals on other lifestyle products, cars and much much more in 2023.The Cambodian property buying market is perceived as being better informed and knowledgeable in financial literacy and a majority appreciate they will require a mortgage in order to purchase property in Cambodia.The insurance industry has seen robust growth in the Kingdom, and the sector is increasing its digitised services while customers are looking at competitive packages and a broader range of products. “We will also have food & beverage on hand as well as a kid's play area for those coming with their families,” said Khiem.Where is the Realestate.com.kh Home & Lifestyle EXPO 2023 Taking Place?This massive venue on Koh Pich in Phnom Penh is well-known and offers ample wide open spaces, access roads and parking and easy access for ride-hailing services. There are also several popular venues nearby such as parks, swimming pools, and restaurants and the Koh Pich Exhibition Centre is ideally situated close to the AEON Mall Phnom Penh, a popular shopping mall in the city.The two days are perfectly suitable for the family too as there will be engaging activities, delicious food and beverages, and the chances to win surprise prizes.How To Attend the Cambodia Home & Lifestyle EXPO 2023For those interested in attending the biggest property, home and lifestyle show in Cambodia, pre-registration is open and you can sign-up now to gain express entry.You will also be the first to know about exclusive deals and promotions at the event and be updated on who will join the Real Estate Home & Lifestyle EXPO 2023.Limited Booths AvailableThere are a limited number of exhibition booths left. If you are looking to supercharge your sales and sell directly to local first-time buyers, property seekers and investors, you can register to sponsor or exhibit at the show before the last few spots sell out! “At the EXPO 2022 we sold more than 10 units at the event and many more as we followed up our leads post-event. We have been looking forward to the 2023 EXPO to help generate more sales and continue to get our brand out there in the market,” said Sothavatey (Vatey) Mom -  FazWaz Country Manager.

AirAsia has announced its plans to resume flights between Sihanoukville and Bangkok as well as Kuala Lumpur, starting from 1st August. The airline will operate three weekly return flights connecting Sihanoukville to Kuala Lumpur, followed by the resumption of two weekly return flights between Sihanoukville and Bangkok from 3rd August. This development comes as welcome news for both tourists and local investors, as it is expected to have a positive impact on tourism and motivate further development in the region.At present, Sihanoukville International Airport only operates two international flights, and the lack of regular air connectivity has hindered the growth potential of the coastal area and nearby islands, especially after COVID-19. However, with the resumption of AirAsia flights, the region is poised to witness a significant boost in tourism, attracting more visitors from both Bangkok and Kuala Lumpur. This increased accessibility will not only benefit tourists but also drive the local economy and encourage developers to invest in the untapped potential of the coastal region.The new flight schedule will cater to the travel needs of both business and leisure travellers. AirAsia will operate return flights between Sihanoukville and Kuala Lumpur every Wednesday, Friday, and Sunday, providing convenient options for travellers looking to explore the coastal destination or connect to other destinations via Kuala Lumpur. Return flights between Sihanoukville and Bangkok will operate every Tuesday and Saturday, offering seamless connectivity between the two cities.

When it comes to urban living, the terms "condo" and "apartment" are often used interchangeably. However, in the context of Cambodia, these two housing options have distinct differences. In this article, we will explore the variations between both shedding light on their unique features and helping you make an informed decision. Ownership StructureOne of the fundamental distinctions between condos and apartments lies in their ownership structure. In Cambodia, apartments are typically owned by a single entity, such as a corporation or an individual landlord. Renters occupy the units and pay monthly rent to the owner. This arrangement grants tenants flexibility, as they can easily terminate the lease agreement and move out with minimal hassle.On the other hand, condos in Cambodia follow a strata-titled ownership structure. This means that each individual unit within a condo building is privately owned. Condo owners have full control over their units and share ownership of the common areas, such as hallways, gyms, and swimming pools, with other condo owners in the same building. The management and maintenance of these shared spaces are typically governed by a condominium association or management committee, consisting of elected condo owners. Amenities and FacilitiesAnother aspect that sets condos apart from apartments in Cambodia is the availability of amenities and facilities. Condos often offer a wide range of luxurious features to attract buyers or tenants. These can include swimming pools, fitness centres, rooftop gardens, concierge services, parking facilities, and 24/7 security. The presence of such amenities contributes to a more upscale and exclusive living experience.While some apartments in Cambodia may also provide basic facilities like elevators or parking spaces, they generally lack the extensive range of amenities commonly found in condos.Apartments offer affordable housing options without added luxury or exclusivity. Price and AffordabilityConsidering the ownership structure, amenities, and overall ambience, it is no surprise that condos in Cambodia tend to be pricier than apartments. The added benefits and convenience associated with condo living contribute to their higher market value. Condos often target affluent individuals or those seeking a more lavish lifestyle. The prices of condos in popular neighbourhoods in Cambodia are generally found in the capital Phnom Penh. The prime locations are known as BKK, Koh Pich and Chamkarmon.On the other hand, apartments in Cambodia are generally more affordable. They cater to a wider range of budgets and are suitable for individuals or families looking for budget-friendly accommodation options. Apartments are often favoured by young professionals, expatriates, or students seeking a convenient living arrangement without breaking the bank. Legal ConsiderationsWhen it comes to legal considerations, the Cambodian government has specific regulations governing the sale and ownership of condos. In 2010, Cambodia introduced the Strata Title Law, which enabled foreigners to own condos above the ground floor. This policy aimed to attract foreign investment and stimulate economic growth. However, it is essential to familiarise yourself with the latest regulations and seek legal advice when purchasing a condo as a foreigner in Cambodia.In contrast, there are no specific legal restrictions on foreigners renting apartments in Cambodia. Renting an apartment is a relatively straightforward process, and expatriates or foreign workers can easily find suitable options depending on their budget.  While the terms "condo" and "apartment" are often used interchangeably, the few main points to summarise the distinctive features between both are:Condos offer a strata-titled ownership structure, a variety of amenities, and a higher price range.Apartments are usually found in buildings built before 2010 and are not eligible for strata titles. It is an affordable housing option with basic amenities such as parking spaces, or elevators if provided.Whether you are looking for an apartment or condo in Phnom Penh, we have more than 40,000 listings on our website! Click Here

The recent groundbreaking ceremony on 11th June 2023 marked the beginning of construction for ODOM, a mixed-use development in central Phnom Penh. Developed by Urban Living Solutions (ULS), Cambodia's leading community-focused real estate developer, ODOM aims to combine residential and commercial spaces in the heart of the capital city.  Strategic Location and AccessStrategically situated along Phnom Penh's main north-south Norodom Boulevard and adjacent to the capital's business district, ODOM provides unparalleled convenience. ODOM’s prime spot along Norodom is the most prestigious address in all of Phnom Penh. Surrounded by BKK1- Phnom Penh’s CBD, Koh Pich, and the riverside area, the development offers easy access to corporate businesses, government offices, embassies, NGOs, schools, and a vibrant dining and lifestyle scene. Its location ensures a dynamic and fulfilling urban lifestyle for residents and businesses alike.ODOM Tower: A Haven for Businesses(Photo Credit: Urban Living Solutions)The centrepiece of ODOM is the impressive 45-story ODOM Tower, which encompasses 40,000 square meters of Grade-A, strata-title office space. Designed to cater to the needs of investors seeking office spaces for rental or business owners desiring full control over their workspace customisation, the ODOM Towe is a prime choice. It offers modern amenities, state-of-the-art facilities, and a prestigious address for businesses.Residential Building: Luxury Living at its Finest(Photo Credit: Urban Living Solutions)Adjacent to the Odom Tower is ODOM Living, a 22-story residential building that houses spacious 1, 2, 3, and 4-bedroom residences. Each unit offers city views and floods of natural daylight through floor-to-ceiling windows. Residents will enjoy a host of amenities, including 24-hour security, access to a rooftop terrace, gym, pool, green spaces, and a sky bridge directly connected to the ODOM Tower.ULS's Reliability and Community Focus(Photo Credit: Urban Living Solutions)As a testament to ULS's commitment to community development, it is worth mentioning their past projects. One notable example is the successful completion of the Rose Apple Square, Urban Village (Phase 1) and Factory Phnom Penh.  ULS's dedication to creating spaces that foster a sense of community and well-being assures prospective residents and investors that ODOM will be a reliable development.

Realestate.com.kh has released the updated and free Why Cambodia Guide 2023 which aims to unlock the potential of Cambodian investment and real estate. The comprehensive guide enables investors to be informed and make informed decisions in a thriving investable market. The Why Cambodia Guide looks at the measures the government has implemented to attract foreign capital, such as streamlining bureaucratic processes and offering incentives for foreign investors, and discusses why Cambodia is seen as a Tiger Economy with the benefits of its strategic location within ASEAN increasing its appeal as a potential investment, logistics and tourism hub.Realestate.com.kh, the leading online property and real estate platform in the Kingdom offers a range of easy-to-use tools for property searchers and investors on their website and on their app. For this guide, they say “Whether you're a seasoned investor or simply curious about the market trends, this guide is a must-have resource.”Is Cambodia A Tiger Economy?Cambodia is a key part of the Chinese Belt and Road Initiative (BRI) which has seen massive investments pour into the country supporting wide-scale infrastructure projects (the Phnom Penh- Sihanoukville Expressway), construction projects including new airports, canals and shipping ports, and even a new stadium (Morodok Techo Stadium) in Phnom Penh which was used for the 32nd SEA Games and 12th ASEAN Para Games - the first major international multi-sporting event to be hosted by Cambodia.In 2023, the Ministry of Public Works and Transport also authorised the Chinese state-owned company, China Road and Bridge Corp (CRBC), to conduct a study on the proposed Phnom Penh-Siem Reap Expressway, while a new Phnom Penh-Bavet has also been approved.Interconnectivity by road, sea and air is a big part of the Kingdom’s roadmap to be a logistics hub and the Comprehensive Intermodal Transport Master Plan 2022 – 2030 (CIT-MP) has identified the need for nearly $50 billion investment for dozens of projects.Other key factors to consider when investing in Cambodia:The GDP growth rate is among the highest in ASEAN post-pandemic - with ADB, World Bank and other financial institutions targeting 6% in 2023 and even stronger thereafter.Companies can be 100% foreign-owned in Cambodia.Investment and Trust Laws are investor-friendly.*Cambodia has one of the fastest urbanisation rates within ASEAN.*The advent of the Cambodia Trust Law, released in 2019, has also given financial and other large international institutions more confidence to develop large asset holdings in Cambodia in more secure legal trust holds. With an emerging middle class in Cambodia, which continues to see significant growth, the latest projection is for the country to no longer be categorised as a least developed country (LDC) and move into the high-middle-income country bracket by 2027.Sector Growth in CambodiaThe Kingdom has been investing in transforming into a key business and logistics hub for the region, through a series of public-private partnerships as well as government-led roadmaps and strategies. The four economic pillars as they are known, have not changed but increased digitalisation and technology will only enhance these industries but also see other sectors experience growth.Cambodia’s Key Economic Industrial Pillars:Construction & Real EstateManufacturing: predominantlyGarment and TextilesTourismAgricultureFurthermore, the residual impacts of COVID-19 are still being felt (such as in tourism and trade) but should rebound. Globally supply chains have probably changed permanently but SEA is one of the potential benefactors.Industry 4.0 and the digital economy are part of the new economic targets of the Cambodian Government and Cambodia is ripe for growth and investment in manufacturing, logistics and as a tech hub.Cambodia Is Investor-FriendlyFDI & Ease of Doing BusinessForeigners currently investing in the Cambodian property sector, for example, hail from 18 countries and the majority are Chinese. According to the National Bank of Cambodia (NBC), in 2019, 42% of FDI (foreign direct investment) came from China, followed by South Korea (11%), Vietnam (7%), Japan and Singapore (6% equally).With no foreign exchange controls, the removal from the FATF Grey List in 2023 which means Cambodia is less likely to face economic penalties or face sanctions from FATF member states and other international bodies.  Combined with the ease of obtaining visas (and extensions) and establishing a business (which is increasingly being digitised) there is a strong interest and demand to confidently invest in the Kingdom. In terms of long-term investors, there are options to purchase citizenship or the Cambodia My 2nd Home (CM2H) program which is an initiative launched in 2022 to attract foreign investment to the Kingdom and compete with similar initiatives in the region. The CM2H program is open to all countries recognised by Cambodia with a certain investment and financial requirement. Special Economic ZonesSEZs operate under the authority of the Cambodia Special Economic Zone Board and these offer businesses a number of fiscal incentives, additional tax breaks, an infrastructural backbone and integrated customs support for manufacturing investors. Digitalisation The NBC has also been pushing for de-dollarisation, while there has been drastic and increased digitisation in payment options such as KHQR, and a number of cross-border and remittance agreements are being explored with a number of nations - including Thailand, Vietnam, China, Rwanda, India, Singapore, Malaysia, Solomon Islands & Fiji.Cambodia has also applied for membership in the Cross-Border Interbank Payment System (CIPS) which is China’s payment system and acceptance should increase the trade and investment between China and Cambodia.Cambodian Construction and Property PotentialWith 25 provinces in Cambodia - the top three areas for condominium investment are in the capital of Phnom Penh, Siem Reap (famous for Angkor Wat and as a tourism destination), and the coastal Preah Sihanoukville. Historically, Chinese, Japanese, and Koreans have been the main property buyers in Cambodia but the range is diversifying with buyers from the US, Europe, Singapore, Malaysia, and other ASEAN nations. Most investment in the commercial space is Chinese and Japanese but there has been increasing interest from India, Indonesia, and the Middle East.Based on the realestate.com.kh 2023 Consumer Sentiment Survey; Land, then Condominiums and Apartments were the most popular among buyers but The Why Cambodia Guide 2023 offers an insightful market comparison on the three types.The guide also expands on the taxes on property, the mechanism for Trusts, land prices, the types of land titles, and other vital information including the detailed market analysis and latest trends as well as the investment opportunities in residential, commercial, and industrial properties.Realetatel.com.kh says the new guide that it is “Packed with valuable insights, expert advice, and in-depth market analysis, this comprehensive guide is your essential resource for navigating the vibrant Cambodian real estate market with confidence. Whether you're a buyer, seller, or investor, the "Why Cambodia Guide" has you covered!”You can download the free Why Cambodia 2023 Guide Here

Phnom Penh has witnessed remarkable growth in its real estate market in recent years. With a surge in economic development and infrastructure projects, the city has become an attractive destination for local and international property investors. In this article, we will provide an overview of Phnom Penh's condominium market, exploring key factors influencing prices, and current market trends, and comparing them to Factors Influencing Condominium PricesLocation plays a crucial role in determining condominium prices in Phnom Penh. Prime areas such as Boeung Keng Kang, Chamkarmon and Russian Market command higher prices due to their proximity to business districts, commercial centres, and popular attractions. Condominiums located in these sought-after neighbourhoods are often associated with high-end/luxury and offer convenience.Amenities and facilities offered within condominium complexes are also significant price determinants. Condominiums with gyms, swimming pools, 24/7 security, and recreational spaces tend to have higher prices. Buyers are increasingly looking for properties that provide a comprehensive range of amenities to enhance their quality of life.Property size and type are additional factors influencing condominium prices. Studio apartments and one-bedroom units are generally more affordable, catering to young professionals or individuals seeking compact living spaces. Larger units, such as two or three-bedroom condominiums, are priced higher due to their increased square footage and additional rooms.Current Market SituationThe Phnom Penh condominium market is experiencing oversupply. The demand for properties remains an opportunity as for investors as the city's improving infrastructure, expanding business opportunities, and rising urban population contribute to the sustained interest in condominiums.In recent years, the market has witnessed an influx of new projects and developments, offering a diverse range of condominium options. Developers are capitalising on the growing demand by introducing innovative designs and premium features such as Le Conde BKK1 being Cambodia's first smart home integrated condominium. Additionally, the Cambodian government has introduced measures to attract foreign investments, such as stamp duty tax exemption for properties valued below $70,000 until the year 2023. Popular Locations In Phnom Penh Boeung Keng Kang (BKK) is a sought-after neighbourhood known for its upscale residential properties, trendy cafes, and international restaurants. BKK is home to expatriates, affluent locals, and young professionals, creating a cosmopolitan atmosphere.Chamkarmon is another desirable area, characterised by its mix of residential and commercial spaces. It offers a diverse range of housing options, from modern apartments to traditional Khmer-style houses. Chamkarmon is known for its proximity to the popular riverside area, as well as its shopping malls, schools, and cultural attractions. The neighbourhood appeals to residents seeking a balance between urban convenience and a relaxed lifestyle.Russian Market, also known as Toul Tom Poung, is a bustling neighbourhood that has gained popularity among expatriates and locals alike. It is renowned for its vibrant market, offering a wide variety of goods, from clothing to handicrafts. Russian Market also features a range of affordable housing options, as well as a lively dining scene with local and international cuisines. Residents of this area enjoy the energetic atmosphere and the opportunity to immerse themselves in the local culture. Upcoming LocationChroy Changvar is a rapidly developing area located on the outskirts of Phnom Penh, Cambodia's capital city. Situated along the banks of the Tonle Sap River, Chroy Changvar offers a peaceful and scenic environment for residents. The neighbourhood is known for its beautiful river views, spacious residential properties, and growing infrastructure. Chroy Changvar has become increasingly popular among both local residents and expatriates due to its proximity to the city centre and its tranquil atmosphere. Residents of Chroy Changvar can enjoy a range of amenities, including schools, hospitals, shopping centres, and recreational facilities. Price Ranges Phnom Penh's condominium prices vary depending on location, amenities, and property size.In Phnom Penh, the average sale price of condo units is as follows:Studio units cost an average of between USD 50,000 - 80,0001-bedroom condominium units cost an average of USD 110,0002-bedroom counterparts units cost an average of USD 160,0003-bedroom counterparts units cost an average of USD 290,000To find out more about condominium prices in other cities, click here to download our free Why Cambodia Guide Comparison with Other Southeast Asian CitiesCompared to other major cities in Southeast Asia, Phnom Penh's condominium prices remain relatively affordable. While cities like Bangkok, Kuala Lumpur, and Singapore have experienced significant price escalations, Phnom Penh provides an attractive alternative for property investors seeking favourable investment returns. The city's potential for growth, coupled with comparatively lower entry costs, positions it as a promising destination for real estate investments.Phnom Penh's condominium market offers an interesting landscape for property investors looking on the long term in Cambodia. The city's real estate sector benefits from favourable factors such as prime locations, attractive amenities, and diverse offerings. With steady price appreciation, due to the increase in infrastructure development, the market balances affordability and potential returns. As Phnom Penh's economic prospects continue, the condominium market is set to flourish, making it a suitable time for investors to consider investing.If you are looking for a property in Phnom Penh, Sihanoukville or Siem Reap contact us here Click Here

Overseas investors who own property in Cambodia often rely on property management services to effectively manage their real estate assets. Property management companies in Cambodia offer a range of services to the needs of investors, ensuring their properties are well-maintained and generating optimal returns.Here's an overview of how overseas investors typically benefit from using property management services:Property Marketing and Tenant AcquisitionProperty management companies assist in marketing the property to attract potential tenants. They leverage various channels, including online listings, local networks, and marketing campaigns, to find suitable tenants for the property.Tenant ScreeningProperty managers conduct thorough tenant screening processes to ensure that reliable and responsible tenants occupy the property. This involves conducting background checks, verifying employment and income, and checking references.Rent CollectionProperty management services handle rent collection from tenants on behalf of the property owner. It ensures timely payment, manages lease agreements, and provides detailed financial reports to investors. Property managers can also assist with setting appropriate rental rates based on market conditions and conducting periodic rent reviews.Property Maintenance and RepairsProperty management companies coordinate and oversee regular maintenance, repairs, and necessary renovations. They work with reliable contractors and service providers to address any issues that may arise, ensuring that the property is well-maintained and meets local standards.Property InspectionsProperty managers conduct regular inspections of the property to identify any maintenance or repair needs. They also ensure that tenants are adhering to the terms of the lease agreement, maintaining the property appropriately, and reporting any concerns to the property owner.Compliance and Legal MattersProperty management services keep investors informed about relevant laws, regulations, and compliance requirements in Cambodia's real estate market. They ensure that the property and its operations comply with local laws, including tenancy regulations, safety standards, and property tax obligations. By utilising property management services, overseas investors can ensure that their properties in Cambodia are effectively managed, reducing the burden of day-to-day operations while maximising the return on investment. Investors need to research and choose a reputable property management company with a track record of successful property management in Cambodia.If you are looking to invest in Cambodia and require professional assistance in managing your property, reach out to us Click Here