On May 8th 2024, the Cambodian real estate industry was celebrated and recognised at Sofitel Phnom Penh Phokeethra during the annual Cambodia Real Estate Awards 2024 (CREA) - we look at some of the winning projects and what developers to keep an eye on for potential buyers and investors.
Cambodia Real Estate Awards
CREA is organised annually by Realestate.com.kh in collaboration with The Ministry of Land Management, Urban Planning and Construction, The Real Estate Business and Pawnshop Regulator of Cambodia, and the Cambodian Valuers and Estate Agents Association.
The winning CREA 2024 projects are a showcase of outstanding individuals and companies in the Cambodian real estate and property sector - more than 300 individuals from Cambodia’s industry were in attendance to see nominees and award recipients celebrated and pick up the coveted trophies.
Tom O'Sullivan, CEO of Realestate.com.kh emphasised the industry awards as “crucial roles of professionalism, transparency, and trust-building in bolstering buyer confidence and sustaining international investment.”
Celebrating Cambodia’s Property & Real Estate Winners
With more than 30 CREA 2024 winners, we have picked just a few leading property developments or developers that are worth keeping an eye on.
OCIC - Top Cambodian Developer
The top Developer of the Year awards went to Overseas Cambodia Investment Corporation (OCIC), and Thierry Tea (Vice-President of OCIC Group) said on the night that they were delighted to be the recipient of the CREA (in total they picked up seven awards) with Tea adding that “It is a testament to the vision of our founder and the hard work of all of our employees.”
The VP added that they are working on several properties in the Cambodian capital, in particular in the Chroy Changvar area which he called “an up-and-coming (growing) community area with a fast-developing neighbourhood.”
He also highlighted the Airport City project which we have mentioned previously and is being built in the vicinity of the new Techo International Airport under development and expected to be operational as soon as 2025.
Time Square 6 - From Cambodia’s Best Condo Developer
The projects’ developer MegaKim World Corporation won the Best Condominium Developer of the Year at CREA 2024 and they have developed a hallmark of quality at their developments in the Kingdom.
Time Square 6 (which is also known as Time Square 302) is located in Boeung Keng Kong I, Chamkamorn with close access to embassies, financial institutions and a range of retail and food and beverage outlets.
The residential condo tower consists of one-bedroom and two-bedroom units and is set to provide contemporary urban living with all the modern amenities. Some of the highlights include a 48th-floor rooftop, fitness and lifestyle facilities, a swimming pool and a canopy garden.
There is also a ping pong room, golf simulation, a lounge, cafe and games room, a kid's play area, a cinema room & karaoke, plus more on the 37th floor.
The development also won the ‘Affordable Condominium Development of the Year’ at CREA 2024; and with construction having commenced in December 2023, there is a completion target date in 2027.
Canopy Sands Development - Top Cambodian Development
After winning the top development of the year at CREA 2024, Canopy Sands Development is building up a head of steam as this mega project on the southern coast of the Kingdom continues to turn heads.
Established in 2019, the Canopy Sands Development is led by a diverse Pan-Asian team
With the Bay of Lights breaking ground in late 2022, the Canopy Sands Development has also since launched the Summer Bay & Beach Cabins, and announced the Bay 19 golf course which is designed by the Greg Norman Golf Course Design team, as well as partnering with Ascott Limited (Ascott) to manage two properties; the Oakwood Bay of Lights Sihanoukville, and Summer Bay Beach Club & Cabins by Preference.
Le Condé BKK1 - Condominium Development Of The Year
Le Condé BKK1 was the winner of multiple awards including the Home Condominium Development of the Year and the Premium Condominium Development of the Year at CREA 2024.
Le Condé BKK1 is situated on Street 352 in the BKK1 area of the capital and is a mixed-use luxury development rising to 43 stories. Developed by Wangfu Guoji Property Development, the project consists of 4 different types of fully furnished units including studio, one-bedroom, two-bedroom and three-bedroom with integrated smart home features.
The development includes the BKK Avenue Retail Store, a 240-meter sky jogging track, an indoor swimming pool, a fitness centre, a children's play area and a sky garden as well as an infinity pool.
In October 2023, Le Condé BKK1 achieved its topping-out milestone, with the project eyeing a completion date of August 2024.
Borey Williams - Best Landed Property Development of the Year
The American-style housing development in Phnom Penh aims to nurture a modern urban community lifestyle with the development providing green space, large lots and homes at affordable prices.
The development won Development of the Year – Western Phnom Penh and Best Landed Property Development of the Year at the Cambodia Real Estate Awards 2024.
Situated in Kambol district’s Romdul Village, the award-winning landed property development is ideally situated close to the Phnom Penh-Sihanoukville Expressway and only three kilometres from both National Road 4 and the Kop Srov Ring Road - offering sublime transport access.
Borey Williams spans 200 contemporary homes as well as a community swimming pool, two parks, a playground and an open picnic area. With 24-hour security, CCTV surveillance, solar panel street lights, full gardening services, as well as pool and community cleaning it offers an idyllic lifestyle in the Kingdom.
Connexion - Lifestyle, Retail, And Sustainable Development Winner
Another serial winner at CREA 2024, Connexion picked up the Lifestyle Development of the Year, the Sustainable Development Of The Year, and Retail Development Of The Year, Connexion is quickly building a strong reputation in Phnom Penh.
Set to open very soon, the community hub is located in Koh Pich (Diamond Island) and has become a model for repurposed and environment-conscious architecture in the Cambodian capital.
Operating under the tagline of “Repurposed mall for greener working, living and connecting on Koh Pich,” Connexion is a ‘work & lifestyle sustainable hub’ covering 45,000m² of uncompleted shopping spaces under the ‘adaptive re-use’ architecture movement.
Connexion is also an OCIC development and offers offices, cultural & event halls, food & beverage outlets, shopping areas, hotel rooms, a supermarket, and sports facilities, the development promotes community-like living and working environments. There is also underground parking for 600 vehicles!
It is worth looking into many of the winners from the CREA 2024, Mean Chey Residences, Picasso City Garden, Sophea Suites, Prince Happiness Plaza, Borey Amory, Diamond Bay Garden, and Time Square 6.
What is Realestate.com.kh Connect Platform
Connect comes from the Kingdom’s leading property portal. The new platform is designed to promote Cambodia and its real estate sector globally. In addition, the online tool enables for far more efficient and transparent transactions through one integrated platform.
O’Sullivan said the platform is in line with the aim of the business and what the whole industry is trying to achieve, “which is bringing everyone together for a common goal.” He added that as a tech company, they have the resources and capabilities to develop it for the “betterment of the whole market” and not just their own.
The CEO highlighted it will allow agencies and property developers to develop their business within one seamless ecosystem which will only add transparency and trust.
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