A busy road for a busy neighbourhood. The Russian Federation Boulevard is where hundreds of thousands of Phnom Penh residents pass through on a daily basis. Supplied.Phnom Penh’s suburban districts continue to see the property market’s outward expansion. The areas of Chbar Ampov, Meanchey, and Por Senchey, seemingly left behind just a few years ago, are receiving continued interest from residential developers capitalizing on the suburban living trend, followed by commercial developments meeting the rise of savvy shoppers.In recent years, Chbar Ampov has been a hotbed of borey developments, condominium projects, and even become site of the $2-billion Norea City project by the OCIC. Neighbouring Meanchey district has largely become more appealing to businesses since the completion of Hun Sen Boulevard and the announcement of the AEON Mall 3. The Japanese-brand mall AEON has seen much success in the Kingdom, having also recently announced plans to expand the capacity of AEON Mall 1 in Tonle Bassac, Chamkarmon.Por Senchey’s fast urbanisation is giving rise to modern commercial centres like Century Plaza. Supplied.The Por Senchey district is one of the latest additions to the capital city’s booming suburbs. Por Senchey serves as the gateway for all arrivals from Phnom Penh International Airport, leading to it being referred to as the airport district. Por Senchey is also one of the biggest districts in Phnom Penh in terms of land area and is home to a similarly large number of residents numbering ~227,000 or over 10% of Phnom Penh’s total population according to the General Population Census 2019.Additionally, Por Senchey is home to dozens of boreys (gated-communities), parks, schools, and major roads such as Russian Federation Boulevard, National Road 3, and National Road 4; roads leading inwards to Phnom Penh’s central business district and outwards to provinces such as Sihanoukville and Kampot. Given its large population and Phnom Penh’s outward expansion, Por Senchey is now realizing its potential as a commercial hub.The Old Market is a landmark among Por Senchey’s residents. Supplied.Por Senchey’s Old Market is among the oldest and most popular community markets in the district. Located along Russian Boulevard, it was a convenient place for locals to buy both wet and dry goods, making it the go-to area for Por Senchey residents’ daily necessities.In meeting the growing demand for a modern market in Por Senchey, developer JLECC partnered with the Phnom Penh city government to develop the Old Market into a commercial centre with modern shopping conveniences. JLECC is an established developer in Cambodia with 6 Chinese National Grade A Engineering Consulting Qualifications and 2 Cambodian National Grade A Design and Construction Qualifications.The Century Plaza is designed to take on a triangular layout to take advantage of the 3 roads surrounding it: Road 2005, 2009, and the Russian Federation Boulevard. Supplied.The new shopping centre called the Century Plaza will stand on top of the Old Market. Construction began in November 2019 and will feature 6 floors and 2 basement levels. Each floor will host a range of goods and services, including a supermarket, food & beverage areas, retail stores, and office areas. JLECC plans to include hotel rooms and services into the Century Plaza’s development due to its proximity of ~1.5km from the Phnom Penh International Airport.Century Plaza is already widely known in Por Senchey as the new shopping centre rising on top of the popular Old Market. The new shopping plaza already has over 670 stalls occupied mainly by the tenants of the Old Market. The stalls have temporarily been moved to the Por Senchey playground, in front of the Century Plaza’s construction site. Many in Por Senchey are looking forward to the project’s completion expected by late Q4 2021.View Century Plaza Property ListingArticle by:

Phnom Penh: To celebrate the official pre-sales on July 30th ,2021, The Botanic Palace will offer a special discount promotion of up to 12%. Moreover, buyers need to pay only 0.8& of the total price of the property per month spread over 24 months - no deposit and no interest!The Botanic Palace will be a new landmark delivering modernity, privacy, security, and superior facilities with new 3 different styles of the premier villa: 1- The Empress Lake, The Empress, and The Empress Twin.Each villa has its own special character complemented by its position next to the Botanic Lake, providing beautiful scenery residents can enjoy. Besides a beautiful and colorful The Palace Garden in front of its houses. These villas combine three generations of style, from timeless favorites of the past to the much sought-after comforts of modern design, making the Botanic Lake suitable for all generations of home seekers.Another rare privilege you will enjoy at The Botanic Palace is a beautiful private park: the Botanic Garden modeled on Melbourne’s Royal Botanic Garden, Botanic Lake The majestic centerpiece of The Botanic City is an expansive lake with elegant fountains. It provides a stunning backdrop to the most elite of lifestyles, Botanic Mall, Botanic Circus, The Palace Garden, and so on.This is a limited-time offer, be sure to inquire today. For more information, please visit our Sales Gallery along National Road 6A or call 098 73 3333.Looking for residential property? Click here to start your search!

Generally, a community can be defined as a group of individuals with various attributes who are connected by social ties, share similar sentiments, and engage in joint action in geographical places or environments. However, according to British social anthropologist Anthony Paul Cohen, in his book titled The Symbolic Construction of Community, he further gives a deeper meaning of the term community in the following excerpt,Community is that entity to which one belongs, greater than kinship but more immediately than the abstraction we call ‘society’. It is the arena in which people acquire their most fundamental and most substantial experience of social life outside the confines of the home.As we are about to enter into the last stage of the Peninsula’s construction progress, this brings us to the upcoming and notably awaited handover process. With that being said, we have been preparing intensively to provide our clients with a beautiful building and smart community to live in. Thereinafter, we are ensuring that the property will be well managed based on our beliefs, vision, and partnership with a reputable property management company.We believe that a supreme quality property asset is not just defined by its design and concept, but rather, it is defined by how we run and operate the said property after its completion. Hence, rather than making it a ‘property’ management, we choose to focus on the ‘community’ management aspect that offers people-centric services, with the ultimate goal of crafting a quality lifestyle ambiance. Additionally, rather than managing the building as a static thing, we want to focus on engaging the residents’ community, bringing positive interaction, and solve the residents’ requests.We especially envision the life in Peninsula to be in line with our community smart living concept. Conventional services such as reception, cleaning, maintenance, and security will be properly managed and made hassle-free for the residents. In addition, there will be plenty of engagement and positive interaction between the management and the residents. The management will proactively prepare and serve the residents and their various needs.Moreover, there will be community activities and classes that cater to both singles and families, such as yoga on a Saturday morning, or a language tuition class on a Sunday afternoon, allowing community members with similar needs and interests to mingle with as well. Therefore, we believe that with all of these elements, such as having a community-based management, an abundance of engagement and positive interaction between the management and the residents, and also a specialized mobile app that will make the community smart living seamless, you will be able to live a ‘smart’ as well as an enriching life.Hence, we foresee a future at the Peninsula, where working professionals comprising of multinationals such as yourself with the same exquisite standards of lifestyle to be co-existing together in a smart community, which is ultimately cultivated by you and your community members. Learn more by visiting our Facebook page, The Peninsula Private Residences today.Inquire about the Peninsula Private Residences

Cambodia's property market is gaining its footing in the COVID-19 economy. Supplied.The persistence of COVID-19 remains the bane of Cambodia’s property market, 18 months since it was first detected in the Kingdom. Uncertainty on when economic activity will return, especially from foreign buyers and international tourism, is keeping property sale and rental prices down; unfavorable tidings to developers, but a boon to keen property investors looking for considerable returns. After all, the question of recovery is not “if” but a matter of “when”.As of July 26, Cambodia has recorded over 73,000 positive cases with 6,439 current active cases. Daily cases remain within the 700-900 range, giving health authorities much to worry about, leading to constant reminders to follow public guidelines to curb the spread of COVID-19 and its variants.The government, however, is doing far more than sounding off. Health authorities recently concluded their first mass vaccination in Phnom Penh last July 8. According to the health ministry’s report, over 2 million people over the age of 18 in the capital city were inoculated with plans on the way to vaccinate children aged between 12 to 17 years old.The Ministry additionally reported that vaccinations are currently underway for 14 provinces, including major population centres like Siem Reap, Kandal, and Preah Sihanouk. The mass vaccination is a major step in creating long-term herd immunity in the coming months, supported by the constant flow of vaccines into Cambodia.The healthcare front is one way the public and private sectors are combating the effects of COVID-19. Much of the country’s economy, particularly tourism, has remained at a standstill since Q2 2020 when tourists and business travelers stopped traveling. The government has since rolled out multiple economic aids to affected provinces, restructured loans, and announced tax waivers to affected businesses.The Phnom Penh-Sihanoukville Expressway is 50% complete as of June 2021, on schedule to meet its completion by May 2023. Photo by Ministry of Public Works and Transport.In addition to short-term economic relief, the government has initiated several infrastructure projects across the country. The Ministry of Public Works and Transport has been active in road improvement projects, the chief example being the Phnom Penh-Sihanoukville Expressway estimated to cost around $1.9 billion USD. The massive project will allow much faster travel between the capital and the coastal town with the country’s only major deep-water port.Siem Reap, famed for its Angkor Wat temples that attract millions of visitors yearly, is now largely absent of tourists. The lull in tourist activity has allowed construction workers to turn most roads in the city upside down as part of the 38-road project, a $150 million USD infrastructure project covering road rehabilitation, an improvement on drainage & sewage systems, and construction of sidewalks. The project is expected to improve the quality of life in the city, and consequently, raise property prices in 2 to 3 years.Siem Reap is seeing a major facelift in light of the 38-road project set for completion by the end of 2021. Photo by Daka Kun Realty.According to a report by Realestate.com.kh, the news of massive infrastructure projects, such as in Siem Reap, have resulted in keen investors - local and foreign - flocking to the city in search of properties below market price.According to Daka Kun Realty, a real estate agency in Siem Reap, buyers coming into the city often look for properties for as low as 40% below market price. She notes areas such as Svay Dangkum, a big commune in Siem Reap, and Sala Kamreuk, an area popular among expatriates, are locations often considered by property buyers if they are not looking for commercial properties in the city centre.“The 38-road project is one of the factors driving interest in the city,” said Daka Kun. “People know it will be a good thing for Siem Reap in the long-term, so they are looking to buy property near these roads today”Opening to safe international travel will be one of the key drivers and indicators of a revitalizing Cambodian economy. Photo by Economytraveller.comPhnom Penh itself is a target for a travel bubble after it completed its vaccination campaign. In an earlier report by the Khmer Times, Anthony Galliano, Group Chief Executive Officer (CEO) of Cambodian Investment Management Holding, said that he is hopeful cases will substantially decelerate before the 13th Asia-Europe (ASEM) Meeting scheduled for Nov 25.“Phnom Penh is among – if not the – most vaccinated capital city in the world, due to the superb work of the Royal Government. Like Singapore, the city is a prime candidate as a first starter to reopen and reap the benefits of a potential return of business travel and tourism,” Galliano told Khmer Times.“Given lingering concerns and new variants and despite tremendous success in vaccinating the population, a paced relaxation to control, manage and mitigate risk is pragmatic. To encourage completion of unfinished projects, revive the real estate market, especially the condominium market which was heavily dependent on foreign buyers, and spur an increase in foreign direct investment [reopening is vital],” he continued.The years-long development of massive projects being undertaken, paired with tough economic times due to the pandemic, translated to property prices in major cities like Phnom Penh, Siem Reap, and Sihanoukville either staying the same or offering discounts to buyers. If it is any good time to secure long-term investment, now is probably the time before pressure from the pandemic alleviates with widespread vaccination and infrastructure projects complete and raise the roof on property values.Start your search of property investments in Cambodia here!Article by:

Phnom Penh: The Botanic Palace, a new benchmark for modernity, privacy, security, and superior facilities developed by Orkide Development located in the main project of Orkide the Botanic City will be available for pre-selling soon at the end of this month​ (July 2021).This project will redefine the modern borey lifestyle, especially for those valuing comfort and privacy.The Botanic Palace showcases its source of rich inspiration through 3 styles of property, namely: The Empress, The Empress Lake, and The Empress Twin. These borey properties all combine the best styles from the golden eras of yesteryear and the much sought-after comforts of modern residential living.Dignified and stately - best describes this project's illustrious and ageless design. Another rare privilege you will enjoy at The Botanic Palace is a beautiful private park spanning the Botanic Garden. Modeled on Melbourne’s Royal Botanic Garden, The Botanic Lake is a majestic and expansive lake crowned as the centerpiece of The Botanic City. It provides a stunning backdrop to the most elite of lifestyles supported by the Botanic Mall, the Botanic Circus, The Palace Garden, and many more nearby amenities.The Botanic Palace will officially open for pre-selling on July 30th, 2021, with a very special offer.For more information, please visit our Sales Gallery along National Road 6A or call 098 73 3333. Looking for property? Click here to start your search!

Siem Reap attracts millions of tourists every year, leading to the city's boom in the past decade. Photo by Khmer Times.It was almost 6 am when the bus rolled into an open garage somewhere along Sivatha Boulevard. It normally takes a while for Bun, a Phnom Penh resident and heavy sleeper, to get up from an overnight trip. But today was different. His 6-hour cross country ride had a purpose: To see if he can start a business in Siem Reap.Bun first came to Siem Reap in 2010 and saw a city teeming with people. He was not surprised at the sight, considering the city has been receiving a lot of international attention. What caught him off guard was how relaxed the city’s atmosphere was.“Siem Reap felt different from Phnom Penh,” recalling the day he first came to the temple town. “It was active but not busy”. The roads were lively with tourists and locals, tuk-tuks and motorbikes ferrying passengers, and street food vendors peddling Cambodia’s fried delicacies. He knew then and there what he needed to ride the city’s growth.Bun came back to Siem Reap in 2011 in time to ride the wave. It took some time before he found a suitable place to renovate into a guesthouse with a small kitchen that can serve breakfast meals. “If there’s anything I know about tourists it’s: They get up, eat breakfast, and spend the whole day outside”, sharing his guesthouse philosophy.The turn of the decade in 2010 was a golden time for Siem Reap. Tourists from all over the world were flocking to the city, wanting to see the majesty of the Angkor Wat temples, specifically the Ta Prohm temple where Tomb Raider was filmed. After tourists spend the day in the temples, they go to Pub Street at night where they drink their exhaustion away and party until they’re told to leave.“But now, it feels like I have to make the choice to either stay or leave”, said Bun grabbing a small towel and disinfectant to wipe down a freshly vacated table.Siem Reap in the time of COVID-19Siem Reap's night markets are one of the city's key shopping areas. Photo by Our Travel Mix.The risk of contracting COVID-19 and its burden on the local economy are of equal concern to the people of Siem Reap. The roads once bustling with tourists wandering around, tuk-tuks kicking up dust, and fried insect peddlers with their recorded ads blaring on megaphones are now mostly silent.“I can’t remember the time when Siem Reap was this quiet,” said Daka Kun, a long-time resident of the city and founder of Daka Kun Realty, a popular real estate agency in Siem Reap staffed by local real estate experts. “COVID hit a lot of local businesses like pubs, restaurants, and local markets. They’ve all been hurting since Q2 2020.”As of April 2021, the Ministry of Tourism reports a drop of over 90% in foreign tourists, a blow to Cambodia's tourism industry valued at over $4 billion annually. The government has so far (July 2021) rolled out its 9th round of economic aid to provinces struggling due to COVID-19.Construction is currently ongoing along Siem Reap's major roads. Photo taken in June 2021 by Daka Kun Realty.Popular areas like Pub Street and the Old Market were once packed with locals, expatriates, and tourists on a daily basis, more so towards the end of the year. These places are no longer as busy, even among locals, given how community incidents back in November 2020 and February 2021 displayed how a cluster of less than a dozen can lead to a city-wide lockdown.“Residents of Siem Reap are still very careful about going out and maintaining social distance,” said David Granger, the Branch Manager of IPS Cambodia, a premier real estate agency servicing expatriates and Khmer buyers. “Not a lot of people go out on the weekends”“They tend to meet in smaller groups at private locations,” noting that residents, both locals, and expatriates have learned to live with the regulations. “Some of the bars and restaurants on Sok San Road, Sivatha Boulevard, and behind Pub Street do have foreigners visiting, but not in large numbers.”Siem Reap businesses that managed to weather COVID-19’s impact have maintained a few regulars that support them. However, most have shifted their models to adapt to the new climate. “Businesses have had to rely on food delivery apps, social media advertising, and their own promotions that encourage deliveries,” David said.From tourist market to buyers’ marketThe lack of tourists has given authorities the space to work on improving the temple grounds. Photo by Daka Kun Realty.Siem Reap may not have the crowd that it used to but it still attracts visitors, albeit a different kind. Daka Kun often sees them entering their office in Taphul village, and is upfront with what they need: “I’m looking for property here”.The news of the temple town’s hard times have reached far and wide within the Kingdom, attracting keen investors looking for properties well under market value. Both Daka Kun Realty and IPS Cambodia have observed this trend grow more pronounced in recent months.According to Daka Kun, buyers coming to Siem Reap often look for properties for as low as 40% below market price. She notes areas such as Svay Dangkum, a big commune in Siem Reap, and Sala Kamreuk, an area popular among expatriates, are locations often considered by property buyers if they are not looking for commercial properties in the city centre.“Siem Reap may be going through tough times but most people here know the value of their land”, Daka resolved that most properties for sale have not adjusted their asking prices unless the owners are strapped for cash.David similarly observed property sales prices in Siem Reap largely remain unchanged, saying “We [IPS Cambodia] have cash buyers who are both local and foreign buyers and they are looking to buy in any part of Siem Reap where they can find distressed sellers”.In terms of property buyers look for, villas, shophouses, and flathouses are the most common residential properties being considered. David notes that the market for well-priced, western-style homes and villas remains strong, due to strong demand for home purchases and a low supply of these properties on the market.Angkor Grace Residence & Wellness Resort is a major development in Siem Reap offering western-style properties for local and foreign investors. Supplied.Angkor Grace Residence & Wellness Resort is an example of western-style homes that are in demand for property investors. The project will be the first condo-resort that will offer freehold ownership for both local & international clients. Angkor Grace offers a 10 years leaseback with 7% to 8% guaranteed rental returns per year, making it an opportunity to invest in western-style homes in Siem Reap.While Siem Reap’s property sales market has managed to maintain interest, the same cannot be said for rental properties. “It’s been tough.” Bun cleared his throat, “I’ve tried a lot of things from cutting on overhead, offering package deals, to outright reducing prices. I consider it a win if I break even for that month”.Siem Reap's Pub Street is one of the most popular destinations for tourists throughout the day. Supplied.Siem Reap has a population of over 1 million residents according to the latest edition of the General Population Census 2019. This number swells by as much as another 2 million from the tourists arriving and departing the city annually. But as COVID-19 persists, tourist figures have dropped by as much as 77% so far in mid-2021, only being kept afloat by visiting locals.The drop in tourism forced many rentals to either slash prices or suspend operations altogether. “Rental prices dropped to 30% with some to almost 50% below what they were before COVID”, David said. He attributes the sharp decrease in rental demand to international borders being closed, adding that many tenants are moving out of their rentals to find lower-cost accommodations. “Hotels, guesthouses, and serviced rental apartments have been hit the hardest,” Daka sharing her observation of the market. “Prices for rental properties still operating have adjusted anywhere from 30% to 50% below their pre-COVID values. Not just because of the lack of tourists but also expatriates looking for cheaper places to live.” Daka adds that a considerable amount of businesses operating in Siem Reap are foreign-owned and the continuing slump in foot traffic has forced many expatriate owners in the city to look for more affordable places to live.It has become increasingly apparent among Siem Reap residents that the longer COVID-19 persists, the longer it will take to get on the path to recovery. However, an equal number of residents are starting to notice that they may well already be on that road.Improving more than 38 roadsThe 38-road project is a major infrastructure project by the Cambodian government to improve road access in and around Siem Reap. Photo by Daka Kun Realty.“I think calling it as the 38-road project understates the scope and the value of the project,”  David Granger said, referring to the extensive work currently turning much of Siem Reap’s road networks inside out. “Whilst the project does include the construction and upgrades of 38 roads, it is providing more benefits than that alone.”In November 2020, workers first broke ground on what would be popularly called the 38-road project. The massive infrastructure endeavour, estimated to cost $150 million, is part of the Siem Reap Tourism Development Master Plan 2020-2035, an apt name for an equally long-term goal.The 38-road project is an extensive government project that includes improving and rehabilitating the drainage & sewage systems, electrical infrastructure, and construction of pedestrian walkways and bicycle paths across Siem Reap. This has led to much of the city’s roadways and sidewalks being turned upside down, including those along Pub Street and the Old Market. It is no stretch to say that the project is one of the biggest Siem Reap has seen in recent years. As of June 2021, progress on the 38-road project is at 63% and is expected to finish on schedule by the end of the year.The 38-road project encompasses works on roads, sewage & drainage, and even sidewalks. Photo by Daka Kun Realty.Many in the city, like Bun, believe the project will have an overall positive impact on Siem Reap. “Yes, it’s difficult to move around today. But it’ll make the trip to my girlfriend’s house a lot smoother,” Bun laughed, momentarily forgetting his worries. “This part of town has always had a dirt road, so I look forward to walking on a proper sidewalk.”The boon to Bun’s romantic trips is not the only benefit the 38-road project would bring. IPS Cambodia’s David Granger is confident that the project will improve the quality of life in the city. “Residential and commercial areas within a 2km radius of the city are going to see vast improvements in infrastructure. Those within a 5km radius of the city are going to see improved access and spur development of new residential areas. And property owners up to 10km out from the city are going to enjoy better connectivity to the city centre and other parts of Siem Reap,” he said.Better road access and connectivity always drive real estate values up significantly. It also happens to be a given that Cambodian real estate investors keep their ears on the ground for the next big infrastructure project.Popular roads around Pub Street and the Old Market are also being worked on and are expected to increase accessibility to these areas once finished in Q4 2021. Photo by Daka Kun Realty.“The 38-road project is one of the factors driving interest in the city,” said Daka Kun. “People know it will be a good thing for Siem Reap in the long-term, so they are looking to buy property near these roads today”. Daka Kun notes that outer parts of Siem Reap may see a considerable jump in prices, especially if the property is by the roadside. “There are land properties in the city outskirts worth $20 to $30 per square metre that will see significant jumps in 2-3 years following the road project’s completion”, she added that city centre properties may also see a boost of around 20% in value, a more modest increase considering downtown properties are already pricey, to begin with. But roads are not the only things being worked on in Siem Reap.The new Siem Reap International Airport will be some ways away from the city centre but will allow Cambodia to accommodate more tourists in the coming decades. Supplied.The new Siem Reap International Airport is another project set to boost the city’s capacity to handle tourists. The new airport is located 51km southeast of Siem Reap and began its construction in March 2020. An extensive project of its own, it occupies 700 hectares and includes the construction of new 4E runways, taxiways, airside stations, terminal buildings, operational support projects, and external facilities including highways - all to accommodate a projected 7 million tourist arrivals every year. The project is reported to be 42% complete in May 2021, with expected completion to be sometime in 2023.The 38-road project and the new Siem Reap International airport are a few examples of the Cambodian government’s plan to keep the country competitive despite a sluggish global economy. It is quite clear among public officials and private groups that COVID-19 will not be letting up anytime soon and playing the long game would be the more beneficial path to take.The future of historic Siem ReapThe Angkor Wat grounds are regularly maintained by Cambodian authorities despite virtually little tourist activity. Photo by Daka Kun Realty.Siem Reap and its temples are often looked at by international observers as a tourist town. The city’s economy is largely built around the interest the Angkor Wat Temple generates via international tourist arrivals and the businesses that follow. But what most outsiders overlook is how the temples are much more than a source of income for Cambodians.“Angkor Wat is a source of pride for the Khmer people,” said Daka Kun. “Our ancestors built these magnificent structures and that gives us something to be proud of.” She mentions that the lack of tourists has not stopped Siem Reap residents from visiting the temples. Both locals and expatriates still hold picnics on the open grounds, run laps around the temples, and even enter the complex to experience the temples by themselves.“The Angkor Wat is featured on the Cambodian flag and is a powerful symbol for the country,” said David Granger. “Angkor Wat is referred to as the 8th wonder of the world and is the largest religious structure in the world, meaning there will also be a fascination in this temple complex by international visitors”David explains that because the temples are part of the UNESCO listing, Siem Reap city is protected from the overdevelopment that befalls other cities. This ensures that Siem Reap will always retain the charm that makes it such a popular city to live in and to visit.“We expect that when pressure from COVID on the international economies begins to fade, the benefits of the infrastructure project will begin to be seen with the unfreezing of price rises in the Siem Reap property market,” he said.For business owners like Bun, infrastructure developments like the 38-road project and the new airport are signs that Siem Reap will remain to have a bright future. “Siem Reap may not have the same vibrance as before,” said Bun, “But people here have not lost their spirit and we’re all ready to welcome tourists back once COVID-19 is over”.*This article is part of Realestate.com.kh’s Industry Insights series. Check Realestate.com.kh's property listings in Siem Reap today!Article by:

Weekly property news recap for real estate-related events this 2nd week of July.Transport Minister: No more reckless construction, MPWT to launch road construction monitoring appThe Minister of Public Works and Transport HE Sun Chanthol has ordered the relevant officers to strengthen road construction works to ensure quality and longer durability, while also announcing the plan to launch a new road construction quality monitoring application soon.Read Full ArticleMinistry of Health: ‘Red Line’ when COVID deaths cross 1,000 markWhile WHO representative to Cambodia Dr. Li Ailan said that Covid-19 local community transmission has not been suppressed yet despite the government’s concerted efforts, and that more cases and deaths are anticipated in the coming days and weeks.Read Full ArticleSilvertown Metropolitan signs on Realestate.com.kh and FazWaz Cambodia as marketing & sales partnersSilvertown Metropolitan has signed on Realestate.com.kh, the largest property classifieds portal in Cambodia, and FazWaz Cambodia, the first-tech enabled brokerage in the Kingdom, as its marketing and sales partners, respectively.Read Full ArticleKoh Norea Satellite City pass 30% completion milestoneThe massive $2.5 billion project from the Overseas Cambodia Investment Corporation (OCIC) recently reported it has reached 30% completion as of mid-2022. The OCIC additionally reported that ongoing construction is progressing as scheduled despite the pandemic.Read Full Article

A property purchase is a major investment for most people and anyone looking to buy property will be well to do by comparing several choices. It’s for this purpose that Realestate.com.kh is starting its monthly comparison series to give you a quick rundown of projects, side-by-side!For July 2021, we’ll be comparing a few projects that may be worth your while:The PARC 21 ResidencePARC 21 Residence is a 21-storey building with a total of 132 residential units with a balcony. The project takes advantage of Chamkarmon’s relatively lower property costs without having to give up modern conveniences staple to urban centres.LocationThe PARC 21 Residence is located in the prime area of Boeung Trabek in Chamkarmon, Phnom Penh. Chamkarmon is in the south-central part of the capital city and is considered a Tier 2 location surrounded by a myriad of shopping, food & beverage, and other entertainment spots comparable to nearby central business districts like Daun Penh and BKK1.AmenitiesAmenities in the project complement the already numerous conveniences around Chamkarmon. PARC 21 includes an infinity swimming pool, jacuzzi, gym/fitness center, garden, and a skybar - all located in the rooftop deck with a full view of Phnom Penh’s city skyline.PriceThe PARC 21 Residence beats out other developments within its vicinity by offering a good price per square metre. At present, ~$2,100 is the price per square meter before discounts and other promotions are applied!Return-on-InvestmentThe PARC 21 Residence is available for both local and foreign buyers. The project also has a Guaranteed Rental Returns scheme of 7% for 3 years and runs promotions on occasion. As of posting, PARC 21 is currently running a minimum of 6% discount for July buyers. It’s also worth noting that PARC 21 has not experienced a major delay in its construction schedule despite the onset of the pandemic.In a report by the Khmer Times, Phnom Penh’s vaccine rollout has primed the capital city as the target of a travel bubble sometime in 2021/2022. PARC 21 is set to finish by June 2022, once tourists and expatriates return to Cambodia. WorldBridge Sports VillageWorldBridge Sport Village (WBSV) is a large-scale development set to be the host venue for the upcoming SEA Games 2023. The project will be the first sports village in Cambodia geared towards residents looking to stay physically active with urban comforts readily available within the project complex.LocationWBSV is located nearby Win Win Boulevard, Bak Kaeng, Chroy Changvar, Phnom Penh. Chroy Changvar is a peninsular district located in the northeast of the capital’s downtown. The area itself is seeing significant attention from developers looking to expand on the outskirts of the city and residential property seekers looking to live a suburban lifestyle.AmenitiesThe WBSV packs plenty of amenities in time for the SEA Games 2023 and beyond. As a sports village, it will have a myriad of sporting facilities including gymnasiums, olympic-sized swimming pools, and training centers. WBSV’s most iconic amenity and landmark is the Morodok Techo National Stadium with its own set of sporting facilities directly adjacent to the project itself.PriceThe WorldBridge Sport Village has both high-rise and landed residential properties. Its condo prices, in particular, are priced at ~$1,300 per square metre - a bargain considering the promise of the project and being developed by the WorldBridge Group, one of Cambodia’s most prominent groups of companies.Return-on-InvestmentThe WorldBridge Sport Village offers a 5% GRR for 2 years. To make things easier, WBSV has partnered with Sathapana Bank to provide loans. WBSV Condos also offer 0% down payment plans and are available for foreign ownership.Silvertown MetropolitanSilvertown Metropolitan is a completed development in BKK1. This high-end residence is one of the first luxury living developments in Phnom Penh and is developed by Naki Realty, part of the Naki Group of companies.LocationSilvertown Metropolitan’s location in BKK1 is an area popular among locals and expatriates for its many international schools, embassies, retail shopping spots, restaurants, supermarkets, and convenience stores. Aside from being a developed urban area, Silvertown Metropolitan is strategically located close to Mao Tse Tung Boulevard leading to the central/south-central area of Phnom Penh with high urban development.AmenitiesSilvertown Metropolitan has fully-furnished units complemented by world-class accommodation with convenient hotel-like services. With a sky bar, fitness center, and infinity pool, Silvertown Metropolitan’s amenities grant residents and visitors a beautiful panoramic view of the city.PriceSilvertown Metropolitan is priced at $2,300 per square metre before discounts and promotions are applied. Silvertown Metropolitan’s initial asking price puts it at the high-end of projects in Phnom Penh but at the more competitive range when compared to other projects considering it is a finished project and is not prone to uncertainties in the same way new developments in Phnom Penh are experiencing.Return-on-InvestmentSilvertown Metropolitan offers Revenue Sharing and Rent-to-Own plans for buyers/investors. Discounts are provided depending on which investment option buyers will choose. Bank loans are also available from PPCBank in Cambodia - allowing loans up to 70% for Khmers and up to 50% for foreign buyers. Summary Comparison Project ComparisonsThe PARC 21 ResidenceWorldBridge Sport VillageSilvertown MetropolitanLocationChamkarmonChroy ChangvarBKK1AmenitiesInfinity swimming poolJacuzziGym/fitness centerGardenSkybarGymnasiumsOlympic-size swimming poolsTraining centres & sports facilitiesShopping centreMorodok Techo National StadiumSky barFitness centerInfinity poolCleaning and other hotel servicesPrice$2,100 per sqm before discounts, lower than surrounding developments$1,300 per sqm before discounts, limited-time off plan pricing$2,300 per sqm before discounts, competitive against other properties in CBDReturn-on-Investment7% GRR for 3 yearsDiscounts availableLocated in popular area5% GRR for 2 yearsDiscounts availableLocated in developing areaRevenue sharing / Rent-to-Own plansDiscounts availableLocated in central business districtCompletion dateScheduled for June 2022Scheduled for 2023Finished ProjectLet us know which one you like best!Article by:

Silvertown Metropolitan is a completed high-end serviced residential in Boeung Keng Kang I. Supplied.Silvertown Metropolitan has signed on Realestate.com.kh, the largest property classifieds portal in Cambodia, and FazWaz Cambodia, the first-tech enabled brokerage in the Kingdom, as its marketing and sales partners, respectively.Realestate.com.kh and FazWaz Cambodia, earlier in 2021, signed a Memorandum of Understanding (MoU) to boost partner developers across local and international markets.“Silvertown Metropolitan is a high-end development offering a premium lifestyle for residents and a safe investment for buyers,” said Ms. Jin, Group Manager for Naki Group. “From its design to the wide range of services, Silvertown Metropolitan offers a unique way of living at the center of Phnom Penh. All the services provided are akin to what any tenants would expect from a hotel, with the touches that make it a home.”“We’re working with Realestate.com.kh and FazWaz Cambodia as they are at the forefront of Cambodia’s real estate market, and most importantly, share our goals of providing a degree of certainty and delivering great value to clients, especially in today’s circumstances” she added.Mr. Tom O’Sullivan, CEO of Realestate.com.kh, said “On behalf of the entire Realestate.com.kh team, I welcome Silvertown Metropolitan as one of our partners and we’re glad that they entrusted the marketing of their project with us”.“Realestate.com.kh’s mission has been and will continue to be connecting buyers, agencies, and developers throughout Cambodia, and COVID-19 has not changed that focus. In fact, it has driven us to pursue new ways of marketing the value of each project we work with to a market looking for a good investment. As a marketing platform, Realestate.com.kh is supplemented by FazWaz Cambodia in providing a capable and swift end-to-end sales solution for our clients” he added.Mr. James Whitehead, CEO of FazWaz Cambodia, said “Silvertown Metropolitan is a high-end project with many benefits that buyers during this time are looking for: It’s a finished project with an experienced property management team, backed by one of the country’s well-known property developers. Them opening their doors to us is a sign that they’re ready to accommodate buyers looking for a safe and long-term investment”.About Silvertown MetropolitanSilvertown Metropolitan, developed by Naki Group, is a completed residential property development located in Boeung Keng Kang I, Boeung Keng Kang district in the capital Phnom Penh, Cambodia.Silvertown Metropolitan has 14 floors with 111 condominium units including a 420 square meter penthouse. Through its expert property management, the project delivers world-class accommodation with convenient services. With a sky bar, fitness center, and infinity pool, Silvertown Metropolitan’s amenities grant residents and visitors a beautiful panoramic view of the city second to none.Silvertown Metropolitan’s location is an area popular among locals and expatriates for its many international schools, embassies, retail shopping spots, restaurants, supermarkets, and convenience stores. Aside from being a developed urban area, Silvertown Metropolitan is strategically located close to Mao Tse Tung Boulevard leading to the central/south-central area of Phnom Penh with high urban development and convenient access to other areas of the city such as Chamkarmon, 7 Makara, and Daun Penh.Silvertown Metropolitan Property ListingAbout Realestate.com.khRealestate.com.kh, established in 2009, is home to over 20,000 live property listings making it the largest real estate classifieds portal in Cambodia. Realestate.com.kh works with the leading real estate agencies and property developers in the Kingdom to meet the demands of both local and international property seekers and endeavours to further develop the larger Cambodian property market as the most attractive real estate investment hub in Southeast Asia.Aside from being a popular online platform, Realestate.com.kh also organized several popular offline events since 2018 that connected real estate agents, property developers, investors, and home seekers with the best deals available on the market.About Fazwaz CambodiaEstablished in 2020, FazWaz Cambodia is the first tech-enabled real estate brokerage in the Kingdom. FazWaz Cambodia represents a new way of doing real estate by giving anyone the opportunity to make money in the country’s growing real estate market and provide the best service and safest possible investment to property seekers and investors in the country.Contact Information:Tom O’SullivanRealestate.com.kh, CEOtom.osullivan@realestate.com.khJames WhiteheadFazWaz Cambodia, CEOjames@fazwaz-kh.comAdvertise with us

The market uncertainty caused by COVID-19 remains the top concern for many agents, developers, and buyers within the Cambodian property space.The country’s daily COVID-19 cases for most of June remain in the 3-digit range, seeing a spike of 1,000 in a single day towards the end of the month. Government officials warn that the country is close to crossing a “red-line” if cases continue to rise - a case that may lead to another lockdown, according to a report by the Khmer Times.Google’s Mobility Tracker shows much of the foot traffic moving closer to baseline with more people going out to public places such as workplaces, groceries, and retail destinations.It is worth noting that while Cambodia surpassed 50,000 infections, currently active cases in the country number less than 5,000 as of writing. Agents and developers remain hopeful about the future of the market provided no lockdown is imposed.SALE PRICES IN PHNOM PENHSales activities have slowed down but interest in properties remains. Despite no lockdown being in effect throughout June and buyers expressing interest, many have chosen to adopt a “wait-and-see” approach. This has prompted agents and developers to adjust payment terms and offer discounts to spur buyers into action and close deals as fast as possible, with mixed results.The PARC 21 Residence is one of the developments that saw a good month after closing over $700,000 worth of property in the first week of exclusivity with marketing partner Realestate.com.kh and sales partner FazWaz Cambodia. The amount of new developments coming to Phnom Penh makes it hard to stand out, especially during the pandemic. But with the help of its exclusive partners, PARC 21 Residence was able to reach property buyers simply looking for a good deal on the market.June 2021 price and size breakdown for condominiums in Phnom Penh:Unit TypeMedian price per sqmMedian unit size1-bedroom$1,89246 sqm2-bedroom$2,09072 sqm3-bedroom$2,545113 sqm RENT PRICES IN PHNOM PENHRental prices in Phnom Penh have gotten their footing during COVID-19 though values are still considerably lower before the outbreak. For June 2021, apartment/condo rental prices saw no significant change compared to May 2021 but are still as low as 30% below pre-COVID-19 figures. The two major movers of rental prices have been the lack of tourists and the movement of renters, especially expatriates, to lower-cost rentals or simply departing due to persisting uncertainty surrounding COVID-19.The lack of tourism remains the elephant in the room for many rental landlords/investors in the city. In a report by the Khmer Times, Cambodian operators are looking towards Thailand’s “Phuket Sandbox” as a basis for their own plans to reinvigorate tourism in the country.Data presented below are median prices from listings available in Phnom Penh. Lower priced accommodations than what is presented are available on Realestate.com.kh’s rental property listings.June 2021 Price Trends by Bedroom for Apartments for Rent:1-bedroom apartment rent per month: 600 USD (No change from May)2-bedroom apartment rent per month: 1,000 USD (No change from May)3-bedroom apartment rent per month: 1,800 USD (No change from May)June 2021 Price Trends by Bedroom for Houses for Rent:2-bedroom house rent per month: 800 USD (No change since May)3-bedroom house rent per month: 1,700 USD (6.25% increase from May)District and Property Type Popularity in Phnom PenhChamkarmon overtook Boeung Keng Kang (BKK) as the most popular district for properties in Phnom Penh. Supplied.The threat of COVID-19 remains a factor for many property seekers and investors in Phnom Penh. Nevertheless, property searches through Realestate.com.kh only saw single-digit adjustments in the popularity index of Phnom Penh’s districts. It is also worth noting that the amount of search queries in June 2021 remains above the amount of interest expressed by property seekers at the same time last year.The top 5 most popular districts for property searches in Phnom Penh, with the most popular property type searched, are listed below:ChamkarmonFor June 2021, Chamkarmon overtook Beoung Keng Kang (BKK1) as the most popular district for property searches. The area’s popularity as a Tier 2 location has been growing since the onset of COVID-19 in Cambodia.Chamkarmon is known as a prime residential choice due to its near central location without the considerable asking price of BKK. Chamkarmon rivals BKK in terms of urban conveniences and activity as cafes, restaurants, pubs, and supermarkets litter almost every block of the district. Tourists often move around the Russian Market area hoping to find a good place to eat and stay. Rental properties are quite popular in the area due to the expat and tourist market it attracts.A project of note in the area is the PARC 21 Residence located in the Boeung Trabek commune. The PARC 21 Residence recently made its mark in the property sector by positioning itself in a popular location in Chamkarmon and pricing itself competitively against other projects within its vicinity - resulting in over $700,000 worth of property deals being closed in 1 week. Popular property types searched in Chamkarmon:Apartments/CondosLanded housesCommercial PropertiesLand PropertiesBoeung Keng Kang (BKK)Boeung Keng Kang previously topped districts for property searches for several months. For June 2021, it slid down to 2nd place due to increased interest in properties in Chamkarmon.Nevertheless, the district’s popularity continues due to the large availability of modern urban conveniences (modern cafes, restaurants, pubs, supermarkets, offices, and international schools) that make it a prime location for residential property seekers, regardless of whether they’re Cambodian or expatriate. Its diverse collection of consumers make it equally attractive to international businesses and local entrepreneurs to set up shop in the area.Popular property types searched in Boeung Keng Kang:Apartments/CondosLanded housesCommercial PropertiesLand PropertiesDaun PenhThe central business district of Daun Penh reclaimed its 3rd place in June 2021. Daun Penh saw a surge in popularity as likely a result of business activity picking up after the month-long lockdown that ended in Mid-day. Being the CBD of Phnom Penh, it is one of the priciest areas in terms of dollars per square metre as it is the most developed of all districts.Popular property types searched in Daun Penh:Apartment/CondosLanded housesCommercial propertiesLand propertiesChroy ChangvarChroy Changvar is a new entry into the top 5 most popular districts in Phnom Penh. The district is located in the northeast of Phnom Penh, Cambodia’s bustling capital city, at the confluence of the Mekong River and Tonle Sap River. Chroy Changvar is the name of both the district and the peninsula it encompasses.The district is a rapidly developing area that has seen a number of large hotels, residential developments, restaurants, and other investment projects transform the formerly quiet area on the outskirts of the city into a property investment hub. Chroy Changvar’s popularity likely stems from many investors looking to locations outside of the city centre with high potential for returns.Some popular projects in Chroy Changvar are The Peninsula Private Residences, a multi-awarded condominium development. La Vista One, a premier waterfront development in Chroy Changvar. And the WorldBridge Sport Village, the first-ever sports village in Cambodia and the site for the upcoming SEA Games 2023.Popular property types searched in Chroy Changvar:Apartment/CondosLanded housesCommercial propertiesLand propertiesSen SokThe vast lands of Sen Sok remain one of the most popular districts in Phnom Penh. The district’s potential for more development continues to make it a popular development choice for many looking to capitalize on the Kingdom’s persistent pace of growth. Sen Sok’s popularity for many Cambodian property seekers has been noted by both local and foreign investors, resulting in the development of boreys (gated communities with landed homes) and condominiums. This flurry of residential development has been met with commercial developments, chief examples being the AEON Mall 2 - the biggest mall in Cambodia to date. The internationally known Makro wholesale market brand is also present in the district.Popular property types searched in Sen Sok:Landed housesApartment/CondosLand propertiesCommercial propertiesRealestate.com.kh’s Condominium Overview in Phnom Penh is a monthly report based on its internal developer tracking and data collected from over 20,000 live property listings across Cambodia.If you’re interested in property in Phnom Penh, let us know by contacting our property advisors below!LOOKING FOR PROPERTY? CLICK HEREArticle by:

The Koh Norea Satellite City is expected to generate thousands of jobs and increase the value of surrounding land and other developments in Nirouth, Chbar Ampov. Supplied.The massive $2.5 billion project from the Overseas Cambodia Investment Corporation (OCIC) recently reported it has reached 30% completion as of mid-2022. The OCIC additionally reported that ongoing construction is progressing as scheduled despite the pandemic.The Koh Norea Satellite City in Nirouth, Chbar Ampov broke ground in late 2020 and is one of the biggest infrastructure and real estate development projects in Phnom Penh. It covers over 125 hectares of land and will house commercial areas, entertainment areas, residential sections, schools, banks, a medical centre, and many other urban conveniences.The scope of the project is expected to have a capacity of around 50,000 people and will generate an initial 7,000 jobs with its completion increasing that amount to 10,000 people running its daily operations.At present, there is only the Monivong Bridge linking the peninsular Chbar Ampov to Phnom Penh’s city center. The OCIC is currently building a $40 million bridge to connect Nirouth with Koh Pich (Diamond Island) to ease traffic congestion along the Monivong Bridge during rush hour. The Koh Norea bridge is also expected to increase the traffic into the district in time for the satellite city’s completion.The Koh Norea Bridge started construction in late 2020. Photo by K/T Khem Sovannara.While Chbar Ampov itself is not known for many luxury developments, some developers have taken interest in the future of the district. In 2020, the Vue Aston broke ground in Nirouth and is endeavoured to be the premier waterfront residence in the area. The new development is located adjacent to the site of the Koh Norea Satellite City.The Vue Aston is developed by The Peninsula Capital Co., Ltd and is jointly designed by HKS Architects and the Golden Mantis Decoration Design Company. The development comprises 38 stories with plenty of premium amenities and facilities providing residents with luxurious living standards with a view of Phnom Penh's Mekong and Tonle Bassac Rivers.The Vue Aston is offering Guaranteed Rental Returns (GRR) for early investors as its residential value is expected to significantly increase the more Koh Norea Satellite City progresses in the next few years. Interested in learning more about the Vue Aston? Let us know!VUE ASTON PROPERTY LISTINGLOOKING FOR OTHER PROPERTIES? LET US KNOW!Article by:

The PARC 21 Residence is extending its special offer with another round of discounts. Buyers can get a minimum of 6% discount for the whole month of July!The popular project has been well received as one of the few developments that build on Chamkarmon’s status as the more affordable alternative to centrally located districts like BKK1 and Daun Penh, without being too far away!What makes the PARC 21 Residence popular?Despite the ongoing pandemic, the keenest of property buyers are still looking for property in Phnom Penh. The PARC 21 Residence is one of the few developments offering a clear value proposition to many buyers and investors on the hunt for the best prices possible.The PARC 21 Residence is a new 132-unit residential property being developed in Boeung Trabek, Chamkarmon. The project adopts the Singaporean residential concept of “A City in a Garden”, which sees the use of smart spatial planning to create a comfortable living environment in the middle of a busy and growing area.As a result, PARC 21 has attracted a portion of young Cambodian professionals looking for a comfortable place to live close to a lot of shops, restaurants, bars, and markets. The PARC 21 Residence has also attracted many families, especially expatriate families. The project is close to international schools such as the CIA First International School, Canadian International School, iCAN British International School, and the International School of Singapore (ISS).Local markets such as the Boeung Trabek Market and the popular Russian Market are nearby (less than 3 minutes). Modern shopping centers are also within a comfortable drive. The AEON Mall 1, the most popular purpose-built shopping mall in Phnom Penh, and the Chip Mong Noro Mall, one of the newer shopping malls along Preah Norodom, are both less than 10 minutes away.All these conveniences resulted in the PARC 21 Residence closing over $700,000 in property deals in just 1 week of an exclusive partnership with Realestate.com.kh and FazWaz Cambodia - one of the highest sales figures achieved in such a short time during a pandemic.Interested in learning more? Download the free brochure or inquire about the project through our listing!DOWNLOAD FREE BROCHUREORVIEW PARC 21 PROPERTY LISTINGArticle by:

Weekly property news recap for real estate-related events this 4th week of June.PARC 21 Residence closed over $700,000 property deals in first week of exclusivity with Realestate.com.kh and FazWaz CambodiaPhnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal. Read the full article here.MPWT completes feasibility study on Phnom Penh Monorail and Subway projectThe feasibility study of the Monorail Way and Subway project for Phnom Penh has been completed, according to Sun Chanthol, the Minister of Public Works and Transport. In the report to Say Chhum, the President of the Senate, the MPWT Minister shared the achievements and progress of the Ministry with the rest of the government ministers. Read the full article here.“A new look” for Sihanoukville after online gambling and initial impact of COVID-19Despite the bygone days of casinos, Sihanoukville managed to still have aces up its sleeves. Check out these photos showing how Sihanoukville progressed through the gambling ban and the initial impact of the global pandemic. Read the full article here.Readiness to host SEA Games 2023 boosts confidence in Chroy Changvar propertiesVath Chamroeun, Secretary-General of the National Olympic Committee of Cambodia (NOCC) held firm that Cambodia will not give up the hard work invested in preparing for the games. He also underlined the committee’s efforts in implementing its strategic plans for the SEA Games 2023. The Secretary-General extended Cambodia’s readiness to hosting the ASEAN Para Games 2023. Read the full article here.Do you need help looking for property? Let us help!

The upcoming SEA Games 2023 and ASEAN Para Games 2023 are expected to introduce a new round of interest in Chroy Changvar district. Supplied.In a report by the Khmer Times, Cambodia reaffirmed its readiness to host the upcoming SEA Games 2023.The Kingdom’s commitment to hosting the event was made by Vath Chamroeun, Secretary-General of the National Olympic Committee of Cambodia (NOCC) in a virtual meeting with representatives from the Southeast Asian Sports Federation to discuss Vietnam’s proposal to postpone the SEA Games 2021 to next year.Chamroeun held firm that Cambodia will not give up the hard work invested in preparing for the games. He also underlined the committee’s efforts in implementing its strategic plans for the SEA Games 2023. The Secretary-General extended Cambodia’s readiness to hosting the ASEAN Para Games 2023.The upcoming SEA Games are expected to boost Chroy Changvar as one of the most-eyed property markets in Phnom Penh. The peninsular district has been on the sights of many developers for its pristine natural beauty and the increasing popularity of suburban living, especially among the Cambodian middle and upper class.Developments like The Peninsula Private Residences, La Vista One, Morgan Park Villa, and Morgan EnMaison are popular projects drawing significant attention from property buyers and are becoming established investment properties in the district.The WorldBridge Sport Village will house several sporting facilities allowing residents to live a healthy and fit lifestyle within Chroy Changvar. Supplied.In the context of the SEA Games 2023, however, the WorldBridge Sport Village stands to benefit the most as the project is adjacent to the Morodok Techo National Sports Complex where the SEA Games 2023 will be held.The WorldBridge Sport Village will be the first sports village in Cambodia and occupies a 63,576 sqm area. As the country’s first true sports village, it will offer modern sports facilities like an aquatic centre and training halls & fields. Residents at the WorldBridge Sport Village will get to live a fit lifestyle in any one of the project’s 1,747 residential units made up of condos and landed properties.The WorldBridge Sport Village broke ground earlier this year and is expected to be completed in time for the 2023 SEA Games and 2023 ASEAN Para Games. You can view the full property listing for WorldBridge Sport Village here.Interested in properties in Chroy Changvar? Let us know!

The PARC 21 Residence showroom in The Point Community Mall along Mao Tse Toung Boulevard. Supplied.The PARC 21 Residence recently closed $700,000 worth of units in the first week of marketing and sales with partners Realestate.com.kh and FazWaz Cambodia.In a press release earlier in June 2021, the PARC 21 Residence appointed Realestate.com.kh, Cambodia’s largest real estate classifieds portal, and FazWaz Cambodia, the first tech-enabled real estate brokerage in the country, as its exclusive marketing and real estate partners, respectively.Positive market receptionThe PARC 21 Residence takes inspiration from the Singaporean idea of “A City within a Garden”, a concept using smart spatial planning to create a comfortable urban residence. Supplied.The PARC 21 Residence is a new 132-unit development in Boeung Trabek, Chamkarmon. Its location is a high-traffic area near the popular Toul Tompoung Market (Russian Market) known for its many shops and restaurants and close to two major roads: Preah Monivong and Mao Tse Tong Boulevard, both roads leading to central business districts like BKK1 and Daun Penh, and to developing areas like Sen Sok, Chbar Ampov, and Meanchey.“Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations,” said Pearl Yu, Senior Sales Manager for PARC 21 Residence. “Our location in Boeung Trabek meets this demand for the same urban convenience without the same high costs”.With the help of Realestate.com.kh and FazWaz Cambodia, PARC 21’s vision of providing a quality residence was well received by many property seekers in Phnom Penh.“I liked the style and concept of PARC 21 Residence. It’s in a good location for a great price. I believe it’s a sound investment for passive income”, Mr. Albert, Singaporean, purchased a 2-bedroom penthouse.“It’s just what my family is looking for. It has a great view, feels cosy, and is in the best spot for my family to move around. PARC 21 is especially close to international schools where my children go. For family time, there’s plenty to go to as dozens of restaurants offer local and international food close to PARC 21”, Mr. Paul, British, purchased a 3-bedroom penthouse.“My family has been looking for a new home near the city center for quite some time now. We saw PARC 21 is close to the markets and to an international school my daughter attends. And with the deal FazWaz Cambodia was able to negotiate, it was an easy decision for us”, Ms. Thida, Cambodian, purchased a 2-bedroom apartment.Despite the ongoing pandemic, the PARC 21 Residence quickly closed over $700,000 in sales as it was able to communicate its value through its exclusive marketing and sales partners.ADVERTISE WITH USValue per square metrePhnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal.The PARC 21 Residence offers a great value per square metre compared to other projects within a 5km area. The project is close to many popular commercial destinations such as:Russian market (<3 mins away)Boeung Trabek Plaza (<3 mins away)Chip Mong Noro Mall (<5 mins away)AEON Mall 1 (<10 mins away)Naga World (<11 mins awaySeveral international schools of note are within a comfortable drive from PARC 21:ISS International SchoolZion International SchoolBlueBird British International SchoolCIA First International SchoolThe Giving Tree International SchooliCAN British International SchoolCanadian International School (CIS)East-West International SchoolFootprints International SchoolThe PARC 21 Residence is on track to deliver its units for handover by June 2022. If you’re interested in this project, let us know today!PARC 21 Full Property ListingDownload PARC 21 Brochure

It seems that only a few months ago, commuters on National Road 3 complained about the difficulty of commuting due to the bad road conditions, but recently the Ministry of Public Works and Transport released new updates on the latest progress in the rehabilitation of National Road 3 - soon approaching 100% completion.Senior Minister Sun Chanthol and a joint delegation inspected the progress of National Road No. 3 on June 22, 2021, a long stretch of road from Chom Chao roundabout to Kampot and has a total length of 134 kilometers. The project was built by China Road and Bridge Corporation under the technical supervision of Guangzhou Wanan Construction Supervision Co., Ltd.The project took 48 months to build, with a total budget of $219,911,000, with financial assistance from the People's Republic of China and the contribution of the Royal Government of Cambodia. This project is almost 100% completed.The road will also be equipped with 14 speed cameras and 2 weighing stations. Plans are also in place to install AI Camera and High Speed ​​Weigh in Motion sensors.On that occasion, HE Senior Minister requested all people who use the road to respect the law to take care of our national property to survive and use for a long time because the Royal Government has made efforts to raise funds to build difficult and insisted: "Do not risk overweight transport that causes road damage. Do not cause traffic accidents, do not exceed the speed limit set by law to contribute to the building of our motherland to grow even more under the wise leadership of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia."HE Senior Minister also shared plans to improve National Road No. 41, National Road No. 31, National Road No. 33, the construction of the bridge in Kratie, and some other construction projects to help reduce logistics costs to attract investors.It should be noted that the completion of the National Road 3 project will not only save time and money to travel to the area along the road, but it will also promote tourism to the relevant provinces to attract more tourists.

The BTS SkyTrain in Bangkok is an example of a mass transit system running through a city’s busiest areas. Photo from Property News.The feasibility study of the Monorail Way and Subway project for Phnom Penh has been completed, according to Sun Chanthol, the Minister of Public Works and Transport. In the report to Say Chhum, the President of the Senate, the MPWT Minister shared the achievements and progress of the Ministry with the rest of the government ministers.Minister Sun Chanthol additionally reported that the MWPT cooperated with the Japan International Cooperation Agency (JICA) to plan the development of the Electronic Data Interchange (EDI) Port project, the upgrades to the Phnom Penh Autonomous Port, and the development of a mass railway transport system.The absence of a mass transport system remains a much-needed development sector in light of Phnom Penh’s rapid city growth and expanding middle class. While a growing road traffic volume may indicate increasing economic activity, there are drawbacks such as increased travel time, fuel costs, and environmental damage.While technical specifications of the proposed city train have not yet been unveiled, it was noted that the train and railways will be using materials to reduce noise coming from the train - a factor that will affect the living standards of residents nearby the tracks and stations. The cost of this recently proposed train is reportedly lower than those previously considered.There has been no report on the possible train route as of writing. It is worth noting, however, both residential and commercial properties nearby mass transport projects see a significant increase in value given the nature of mass transport systems making it easier for commuters to go to the busiest areas of a city like Phnom Penh.Article by:

Sihanoukville continues its construction boom even after the departure of online casinos in late 2019. Supplied. Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville blew up as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Boomtowns, like Sihanoukville, are cities experiencing a fast pace of growth but often have limited infrastructure to support them. Photo from the Southeast Asia Globe. Sihanoukville, a once-sleepy beach town on the southern coast of Cambodia, became a boomtown in light of Cambodia’s fast-paced real estate growth and the rise of online gambling operations in Southeast Asia. The latter was a key driver to the city’s growth as droves of operators flocked to the city to take advantage of gambling licenses allowing operations to be set up legally. Online casinos geared towards the Chinese market were the most prevalent in the city attracting many Chinese nationals to move and work in the city. The influx of a new market with higher budgets drove Sihanoukville’s property markets to skyrocket in a matter of months. According to the Khmer Times, the government granted over 160 gambling licenses to operators across the country in mid-2019. Photo from Bloomberg/Getty Images. The city’s boom would soon meet its first slow down as in August 2019, the government decreed that it would no longer accept and renew online gambling licenses. The news rippled throughout Cambodia forcing online casino operators to move out of Sihanoukville and other gambling towns like Poipet (bordering Thailand) and Bavet (bordering Vietnam). According to government numbers, over 100,000 foreign nationals left the Kingdom by early 2020. The exodus of online casinos from Sihanoukville would not be the end of its struggles. As Cambodia ushered in 2020, the outbreak of COVID-19 soon reached the Kingdom with the first positive case of a resident of Sihanoukville province. The already dwindling numbers of international travelers further hurt Sihanoukville’s economy transitioning back to a beach resort/ecotourism for local and international visitors. The COVID-19 outbreak was a blow to the city that put it on its economic knees. Despite the bygone days of gambling, Sihanoukville still had aces up its sleeve. Sihanoukville’s new look in 2021 Photo from Discover ASEAN Facebook. Historically, major port towns throughout history have developed the fastest with some progressing to become the capital cities like Bangkok, Manila, Tokyo, and Singapore. Sihanoukville may not be Cambodia's capital, but it may as well be the queen city of the south as it hosts Cambodia’s only major deep-sea port managed by the Sihanoukville Autonomous Port (PAS). This allows the city to be the gateway of international brands to Cambodia’s growing consumer market. Photo from Discover ASEAN Facebook. As a province, Sihanoukville is home to many Special Economic Zones (SEZs) providing much-needed employment and skills to the area. Sihanoukville also has the Sihanoukville International Airport (KOS) which delivers tourists directly to beaches that have seen many renovations after the departure of online casinos and the lull in international travel. Photo from Discover ASEAN Facebook. The hurdles the Sihanoukville experienced in the past 2 years may have slowed its progress but it has not put it to a halt. On the contrary, it has even allowed for big luxury developments like Morakot Island (Koh Puos) to establish itself as a private island getaway offering large villas in the city. Sihanoukville, on the grander scheme of things, has been afforded the breathing space it needed to quietly transition into an area that capitalizes on its manufacturing hubs, skilled labor, natural resources, and access to the wider international market. Interested in properties in this major coastal town? Check out our property listings in Sihanoukville. Article by:

Phnom Penh, Cambodia - Parc 21 Residence appointed Realestate.com.kh, the largest property classifieds portal in Cambodia, as the exclusive marketing partner for the 132-unit condominium project located in Chamkarmon, Phnom Penh. Parc 21 Residence has also chosen Fazwaz Cambodia as its exclusive real estate agency for the development. Earlier in 2021, Realestate.com.kh & Fazwaz Cambodia announced an MOU in a massive boost for agencies and property developers in Cambodia. Pearl Yu, Senior Sales Manager at Parc 21, noted, “We launched Parc21 in May 2020 in line with the booming tourism market and growing Cambodian middle class. Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations”“Early sales were extremely promising, but of course, no one could predict COVID-19 and the prolonged effects on real estate markets. As a response to the slowdown, we decided to focus less on sales and marketing of the project and focus our efforts and resources on continuing Parc 21’s construction. We can proudly say that today we were only delayed a month due to the pandemic and we are on track to hand over units in mid-2022”“Considering we are handing over in 2022, we reached out to Realestate.com.kh to help supercharge our marketing again, we worked with them when we launched and joined the online sales event in June 2020 where we successfully sold one of our Penthouse units, most impressively Fazwaz Cambodia has closed more than $4 million in condo sales in Q1 2021, during one of the toughest periods to sell units, we were very attracted to both Realestate.com.kh and Fazwaz ability to attract high net worth local buyers and international investors” Tom O’Sullivan, CEO of Realestate.com.kh said, “Realestate.com.kh has been at the forefront of real estate marketing in Cambodia since 2009, we are well versed in where to focus marketing spend to get the best quality leads for developers, separately we also work with all of the real estate agencies in Cambodia so its very efficient for developers to work with Realestate.com.kh to distribute their offers, promotions and marketing material to every agent in Cambodia. Realestate.com.kh, as a marketing platform, is supplemented  by Fazwaz’s strong sales team and strategy and plays a major role in the end-to-end sales and marketing process for Parc21” James Whitehead, CEO of Fazwaz Cambodia said, “We have had the opportunity to work exclusively with multiple developers but we wanted to make sure it was the right project to bring to the market as our first exclusive project in Cambodia, despite Parc 21 scaling down sales and marketing efforts in 2020 they still charged ahead with the construction of the project and handing over next year - this gives us (Fazwaz & Realestate.com.kh) and buyers great confidence to really get behind this project“About Parc 21 ResidenceParc 21 is a residential property development located in Boeung Trabek, Chamkarmon district in the capital Phnom Penh, Cambodia. Parc 21 is developed by JV Parc Residence Co., Ltd, a joint venture between investors from Singapore and Hong Kong.Parc 21 Residence is located in the cosmopolitan district of Chamarkmon. The project is made up of 21 floors with 132 residential units each with a balcony. Parc 21 also boasts several amenities including a swimming pool, jacuzzi, gym/fitness center, and office area to complement its modern residential comforts.Parc 21’s location is an area popular among locals and tourists for its many shops, restaurants, pubs, and cafes. It is a key development strategically located in the south-central area of Phnom Penh with high rates of growth and convenient access to other areas of the city such as Daun Penh, Boeung Keng Kang, 7 Makara, and Meanchey districts.About Realestate.com.kh Realestate.com.kh, established in 2009, is home to over 20,000 live property listings making it the largest real estate classifieds portal in Cambodia. Realestate.com.kh works with the leading real estate agencies and property developers in the Kingdom to meet the demands of both local and international property seekers and endeavours to further develop the larger Cambodian property market as the most attractive real estate investment hub in Southeast Asia.Aside from being a popular online platform, Realestate.com.kh also organized several popular offline events since 2018 that connected real estate agents, property developers, investors, and home seekers with the best deals available on the market.About Fazwaz CambodiaEstablished in 2020 in Cambodia, FazWaz KH is the first tech-enabled real estate brokerage in the Kingdom. FazWaz Cambodia represents a new way of doing real estate by giving anyone the opportunity to make money in the country’s growing real estate market and provide the best service and safest possible investment to property seekers and investors in the country. Contact Information:Tom O’SullivanRealestate.com.kh, CEOtom.osullivan@realestate.com.kh James WhiteheadFazWaz Cambodia, CEOjames@fazwaz-kh.com

The month-long lockdown measures implemented in Phnom Penh were lifted in May 2021. The news of the lifting of movement restrictions was a welcome one by many businesses, especially developers in Phnom Penh. Given its recent reopening, the city’s property market is positioning itself for gradual recovery in terms of sales activity, stabilizing rental prices, and increase in property search interest in popular districts in Phnom Penh.Sale Prices in Phnom PenhFor May 2021, sale prices for apartments/condos have started to stabilize and even see slight upticks in quoted prices and overall interest from both the local and international markets. Some developers have notably switched marketing to the local market while others have geared up their marketing for international buyers given Phnom Penh’s relatively “business-as-usual” daily life after its month-long lockdown ending in mid-May.May 2021 price and size breakdown for apartments/condos in Phnom Penh:Unit TypeMedian price per sqmMedian unit size1-bedroom1,796 USD43 sqm2-bedroom2,065 USD76.5 sqm3-bedroom2,429 USD122 sqmRent Prices in Phnom PenhRental Prices in Phnom Penh today remain at relatively lower levels compared to this time back in 2020. The good news is that the days of uncertainty from market fluctuations have passed and prices have largely stabilized for apartment rentals even throughout the impact of the Feb-20 community outbreak. Unfortunately, the same cannot be said for houses available for rent in the city as their rental prices have fluctuated in the past quarter following the community outbreak.Should rising cases persist, more factors will come into play for the rental market such as quarantine zoning restrictions, limited foot traffic affecting businesses operating from shophouses, competition from hotels offering long-term stays, and the entry of new landed developments with rental schemes.Data presented below are median prices from listings available in Phnom Penh. Lower priced accommodations than what is presented are available on Realestate.com.kh’s rental property listings.May 2021 Price Trends by Bedroom for Apartments for Rent:1-bedroom apartment rent per month: 600 USD (No change from April)2-bedroom apartment rent per month: 1,000 USD (No change from April)3-bedroom apartment rent per month: 1,800 USD (No change from April)May 2021 Price Trends by Bedroom for Houses for Rent:2-bedroom house rent per month: 800 USD (8.5% decrease from April)3-bedroom house rent per month: 1,600 USD (6.6% increase from April)District and Property Type Popularity in Phnom PenhThe amount of search queries this month (and so far into Q2) remains above the amount of interest expressed by property seekers at the same time last year. The top 5 most popular districts for property searches in Phnom Penh, with the most popular property type searched, are listed below:Boeung Keng Kang (BKK)In April 2021’s report, Boeung Keng Kang was the top searched district for properties in Phnom Penh. The district’s popularity continues in May 2021 due to the large availability of modern urban conveniences (modern cafes, restaurants, pubs, supermarkets, offices, and international schools) that make it a prime location for residential property seekers, regardless of whether they’re Cambodian or expatriate. Its diverse collection of consumers make it equally attractive to international businesses and local entrepreneurs to set up shop in the area.Popular property types searched in Boeung Keng Kang:Apartments/CondosLanded housesCommercial PropertiesLand PropertiesChamkarmonChamkarmon maintained its second-most-popular status in terms of property searches in Phnom Penh. This district is a prime residential choice due to its near central location without the considerable asking price of BKK. Chamkarmon rivals BKK in terms of urban conveniences and activity as cafes, restaurants, pubs, and supermarkets litter almost every block of the district. Tourists often move around the Russian Market area hoping to find good souvenirs, knick-knacks, and even holes-in-the-wall. Rental properties are quite popular in the area due to the expat and tourist market it attracts.Popular property types searched in Chamkarmon:Apartments/CondosLanded housesCommercial PropertiesLand PropertiesSen SokThe vast lands of Sen Sok swept through this month’s popularity rising from 5th overall to be the 3rd most popular district due to a spike in interest. Its flatlands continue to make it a popular development choice for many looking to capitalize on the Kingdom’s persistent pace of growth. Sen Sok’s popularity for many Cambodian property seekers has been noted by both local and foreign investors, resulting in the development of boreys (gated communities with landed homes) and condominiums. This flurry of residential development has been met with commercial developments, chief examples being the AEON Mall 2 - the biggest mall in Cambodia to date. The internationally known Makro wholesale market brand is also present in the district.Popular property types searched in Sen Sok:Landed housesApartment/CondosLand propertiesCommercial propertiesDaun PenhThe central business district of Daun Penh dropped down to 4th place in May 2021. It is worth noting that Daun Penh’s drop in popularity is not a result of less interest but rather a significant increase in searches for properties in Sen Sok. Daun Penh’s search popularity increased slightly in May as business gradually returned to the whole of Phnom Penh.Popular property types searched in Daun Penh:Apartment/CondosLanded housesCommercial propertiesLand propertiesToul KorkThe Toul Kork area has seen a significant amount of development over the past decade. Its close proximity to central districts like Daun Penh and 7 Makara make it an equally attractive choice to residents looking to live near the city center without the associated costs. It also serves as the gateway to the developing outer districts of Sen Sok and Russey Keo.Despite the district’s comparatively small area, the area is known for a large number of villas, office spaces, condominiums, and overall interest from both residential and commercial developers.Popular property types searched in Toul Kork:Apartments/CondosLanded housesLand propertiesCommercial propertiesRealestate.com.kh’s Apartment/Condo Market Overview in Phnom Penh is a monthly report based on its internal developer tracking and data collected from over 20,000 live property listings across Cambodia. If you’re interested in learning more about the Kingdom’s property market, you can download the Real Estate Survey 2021 for free!Article by: