While most countries are still uncertain on when COVID-19 will let up, the Kingdom of Cambodia may have something to celebrate.According to a report by the Mekong Strategic Partners, an investment and advisory firm based in Cambodia with operations across the Greater Mekong region, Cambodia is one of the most vaccinated countries in the world, and Phnom Penh, the most vaccinated capital in the world, at around 99% of adults fully vaccinated.On par with advanced economies, surpassing ASEAN neighboursCambodia has surpassed most of its ASEAN counterparts in achieving herd immunity, only surpassed by Singapore. According to the Mekong Strategic Partners’ report, Cambodia is on track to hit 70% vaccination for its population (including children) by September 21, 2021, putting it well ahead of its more developed neighbours.For comparison, the closest behind Cambodia to achieve this rate of its population vaccinated is the Philippines, projected by March 2022. Following behind are Indonesia and Thailand in July 2022. Neighbouring Vietnam is projected to achieve the same level of vaccination a year later, around September 2022.The consistency of vaccine rollouts has put the Kingdom at the same rate as developed countries. Cambodia has vaccinated 66% of its adult population (as of August 2021), the same rate as the United States, France, Italy, Switzerland, and Sweden.Cambodia ranked first globally in terms of vaccine doses per capita, having vaccinated 1.7% from Aug 4 to 11, according to Financial Times data.Dissecting Cambodia’s response to COVID-19“I think it’s fair to say that Cambodia has exceeded everyone’s expectations. The government has been criticised in part for what they’ve got wrong or what they’ve done wrong, but you really need to give them full marks for how they’ve managed the vaccine programme,” MSP Managing Director Stephen Higgins told Khmer Times in a report.With the support of China and the Cambodian private sector, the government has kept a consistent flow of vaccines and distributed them through vaccination campaigns across the Kingdom. Additionally, the Cambodian public is observed to have low vaccine hesitancy, hastening the progress of vaccine campaigns nationwide.The massive nationwide vaccination is accelerating to a point that the government has already pushed for booster shots to be distributed to both adults and children.Prior to the vaccination rollouts, the Cambodian public has taken it upon themselves to observe basic quarantine measures such as wearing masks, maintaining social distancing, and limiting visits to public places. MSP’s report also highlights the strong contract tracing by health authorities early on, which undoubtedly mitigated what could have been a worst-case scenario for the Kingdom.As a result of the early adoption of quarantine measures, continued vaccine supply, and vaccination efforts, Cambodia is on track to achieve more than 80% vaccination by the end of August 2021; 8 months ahead of initial projections and up to 12 months before neighbouring countries.Timeline of vaccine arrival in CambodiaThe Cambodian government has been proactive in ordering, receiving, and distributing vaccines to its population. The Kingdom’s vaccine rollout began in February 2021 starting with medical and military personnel, followed by the wider public.NOTE: The timeline below is meant to showcase the consistency of vaccines coming into Cambodia based on internally recorded arrivals. This is NOT an official account of vaccines that arrived in Cambodia.On February 7, 600,000 doses of China National Medicines Vaccine (Sinopharm)On March 2, 324,000 doses of the AstraZeneca vaccineOn March 26, 1.5 million doses of China Coxing Vaccine (Sinovac)On March 31, 700,000 doses of China National Medicines vaccine (Sinopharm)On April 17, 500,000 doses of China Kexing Vaccine (Sinovac)On April 28, 400,000 doses of China National Medicines vaccine (Sinopharm)On May 11, 500,000 doses of China Kexing vaccine (Sinovac)On May 16, 500,000 doses of China Kexing vaccine (Sinovac)On May 23, 1 million doses of China Coxing Vaccine (Sinovac)On June 8, 1 million doses (500,000 doses of Sinopharm, 500,000 doses of Sinovac)On June 12, 1 million doses of China National Medicines Vaccine (Sinopharm)On June 19, 1 million doses of China Coxing Vaccine (Sinovac)On June 26, 1 million doses of China Kexing vaccine (Sinovac)On June 28, 1 million doses of China Kexing vaccine (Sinovac)On July 6, 1 million doses of China National Medicines vaccine (Sinopharm)July 10, 4 million doses (3 million doses of Sinovac and 1 million doses of Sinopharm)On July 22, 1 million doses of China National Medicines vaccine (Sinopharm)On July 23, 1 million doses of AstraZeneca through COVAXOn July 30, 450,500 doses of Johnson & JohnsonOn July 31, 1 million doses of China Kexing vaccine (Sinovac)On August 1, 1 million doses of China National Medicines Vaccine (Sinopharm)On August 2, 609,600 doses of the Johnson & Johnson vaccineOn August 12, 3 million doses of China Kexing vaccine (Sinovac)On August 23, 500,000 doses of China National Medicines Vaccine (Sinopharm)On August 23, 100,000 doses of China National Medicines Vaccine (Sinopharm)A booster shot for the economyEconomies with a largely vaccinated population show better economic prospects in the short term (1 to 2 years) than those with low vaccination rates. The MSP’s report additionally cites the IMF’s World Economic Report:“Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs: those that can look forward to further normalization of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising COVID death tolls.”When the economic hardship wrought by COVID-19 became apparent in late 2020, many observers resolved that economic recovery can only begin with an effective vaccination rollout. Just over a year later, Cambodia is now leading its regional neighbours and stands alongside highly-industrialized countries in the percentage of its population inoculated.Cambodia’s effective distribution of vaccines will have a direct effect in lowering future cases and relieving a limited Cambodian healthcare system. Fewer lockdowns will be required and the quality of life for Cambodians will improve in multiple facets.The tourism and manufacturing sectors, which employ more than a million people combined, have been hard hit by COVID-19. According to MSP’s assessment, higher vaccination rates may result in less interruptions on operations and a turnaround for domestic demand particularly for services - a recovery that will support economic growth and encourage Foreign Direct Investment (FDI).The next 2 years are projected to be much better years for Cambodia. According to mid-year assessments by the Asia Development Bank and WorldBank, the Kingdom’s economy will bounce back with 4% growth this 2021, followed by a projected 5% growth in 2022. This is on the back of continued vaccination campaigns by the government and continued support for both local and international investments.Looking to invest in property in Cambodia? Click hereArticle by:

It is without a doubt that the Covid-19 pandemic has very much brought catastrophic effects to the world such as the dramatic loss of human life worldwide and an unprecedented challenge to public health, food systems, and the world of work. Needless to say, the economic and social disruption caused by the pandemic is devastating. However, notwithstanding the fact that Southeast Asia is now embroiled by the Delta variant of Covid-19 as of late, Cambodia has every reason to remain optimistic once this pandemic is over.As a matter of fact, according to Cambodia’s Ministry of Health, Cambodia has managed to vaccinate close to 90 percent of the initially targeted 10 million people against COVID-19. To date, from February 10, 2021, to August 15, 2021, it has successfully vaccinated 9,020,990 against the virus. Considering that the country has spent more than USD1 billion to combat COVID-19, and with the knowledge that herd immunity could be achieved by October 2021, there is clear economic evidence that high vaccination rates improve economic outcomes, thus ensuring that the Kingdom of Wonder is on the right track for more than 6% GDP growth in 2022.With that being said, Cambodia definitely possesses the potential to grow as a result of Southeast Asia’s economic expansion, what with the increased commerce with China and a young and active population with rising educational levels. In addition, compared to its neighbors in the region, which has imposed partial or full lockdowns to manage the spread of the virus, the Cambodian government has enforced strict, absolute lockdowns in the country which has proven to be effective. This has also enabled economic activities to recover quickly despite suffering some losses previously. It goes without saying that although we are currently navigating through difficult times, the future is certainly looking promising for the Kingdom of Wonder at the moment.It is worth mentioning that the property market in the city is currently booming and trending upwards, based on the estimates of Simon Griffiths, Managing Director of The Mall Company Cambodia. He added, “With greater competition, developers shall increasingly offer better-guaranteed yields and deals to foreign and local buyers.” Notably, for the past half-decade, the country has seen a consistent 7% GDP growth. In 2019, the country also saw its inward FDI flow increase to $3.7 billion, an increase of 12% compared to 2018.Fortunately, with the booming real estate market, and increasing value of property in the city, Phnom Penh city dwellers can look forward to the upcoming completion of the Peninsula Private Residences, an award-winning project comprising of a unique blend of a private residence, varied facilities, and hospitality-inspired services for a complete lifestyle investment. As the finest landmark at the gateway of Chroy Changvar district, The Peninsula is without a doubt, the future hotspot investment catering to a high-quality residential lifestyle, complemented with a unique Community Smart Living concept for the ultimate living experience. For those looking to own an affordable boutique living or an investment with solid returns, find out more by checking the Peninsula Private Residences project listing.View Full Property ListingInquire about The Peninsula Private Residences

Everybody loves a holiday and fortunately, the Royal Government has issued the official public holidays in Cambodia for 2022. The Kingdom’s holidays for 2022 total is 21, with a considerable number falling on weekends and Buddhist holidays overlapping with other public holidays.Official Holidays in Cambodia for 2022DATEOCCASIONDAYJanuary 1New Year’s DaySaturdayJanuary 7Victory over Genocide DayFridayMarch 8International Women’s DayTuesdayApril 14, 15, 16Khmer New YearThursday, Friday, SaturdayMay 1International Labor DaySundayMay 14The Royal Birthday of His Majesty King Norodom Sihamoni, King of CambodiaSaturdayMay 15 Vesak Bochea FestivalSundayMay 19 Royal Plowing CeremonyThursdayJune 18 Royal Birthday of Her Majesty Queen Norodom Monineath Sihanouk, the Queen Mother of CambodiaSaturdaySeptember 24 Constitution DaySaturdaySeptember 24, 25, 26Pchum Ben FestivalSaturday, Sunday, MondayOctober 15 Day in Honor of the Late King Norodom Sihanouk, His Majesty the King FatherSaturdayOctober 29 Royal Ceremony of His Majesty King Norodom Sihamoni, King of the Kingdom of CambodiaSaturdayNovember 7, 8, 9Royal Water FestivalMonday, Tuesday, WednesdayNovember 9 National Independence DayWednesdayLooking for a holiday home in Cambodia? Let us know!Inquire about properties in Phnom Penh

Though faced with difficulties in light of the pandemic, Phnom Penh's property markets continue to expand with continuing interest from foreign business interest. Supplied.Phnom Penh’s property market may have slowed down, but that does not mean it’s any less valuable. Prior to the pandemic, Phnom Penh has been growing at a rapid pace with continued infrastructure development and foreign companies opening up shops in the Kingdom. And contrary to popular belief, neither has really stopped since the onset of COVID-19 in Cambodia.In terms of infrastructure, the Royal Government has made it abundantly clear that infrastructure developments across Cambodia will continue and will benefit major population centres like Phnom Penh, Siem Reap, and Sihanoukville in the next few years.And it’s not like Cambodian consumers tempered their taste for diverse products and services over the pandemic. Foreign brands who meticulously study consumer markets have expressed and pursued interests in opening in Cambodia as a response to the growing demand for international brands.The likes of Hilton Hotel Group, H&M, Papa Johns, and Pizza Hut are at different stages of starting operations in Phnom Penh. Papa Johns and Pizza Hut are already making waves among local and expatriate consumers in Phnom Penh. International hotel brand Hilton Group, and clothing retail giant H&M are also opening in Phnom Penh sometime in 2022. Both brands are expected to trigger renewed activity in the clothing retail and hotel sectors of Phnom Penh.What does this all have to do with a low down payment property? Simple: For as low as 10% down payment, property investors can secure themselves a spot in the middle of all this continued growth amid the pandemic.Much like foreign brands, international property investors have been exploring options to continue business in fast emerging markets like Cambodia. Given the pandemic, however, more have become discerning. As a result, only projects with a good reputation and the right set of priorities have succeeded in attracting the most prudent of investors.The PARC 21 Residence in Boeung Trabek, Chamkarmon is one project that has been receiving much attention from international investors. Backed by investors from Singapore and Hong Kong, the project takes after Singaporean designs that maximize space while allowing comfortable movement within its residences. The PARC 21 Residence is most noted for its unhindered construction progress despite the impact of COVID-19; having recently topped off its construction in July 2021. The project is expected to be completed by June 2022.The successes of PARC 21 Residence resonate strongly with both Cambodian and foreign buyers in the form of $1 million worth of units having been sold while another $800,000 are in the negotiation stage, according to PARC 21 exclusive sales partner FazWaz Cambodia.Realestate.com.kh, the largest real estate classifieds portal in Cambodia, also attributes PARC 21’s success to its location in Chamkarmon. The area is popular among locals and expatriates alike for its many shops and stores, as well as comparatively lower property prices, especially in the Boeung Trabek and Toul Tompoung subdistricts. Property investors who have expressed interest in the Singaporean project noted that its location, being at the centre of the city’s outward development makes it a sound investment for passive income.The PARC 21 Residence is currently accepting a 10% down payment with up to 10-year payment plans. The project is additionally offering a limited-time discount for the remainder of August 2021. The PARC 21 Residence is expected to increase prices in September as it draws closer to its completion date in mid-2022.View Full Property ListingInquire about PARC 21 ResidenceArticle by:

In July 2021, the Council for the Development of Cambodia (CDC) issued the "Draft Law on Investment of the Kingdom of Cambodia". The draft law seeks to create a favorable environment for investment to attract and promote quality, efficient and effective investments by Cambodian and foreign investors for socio-economic development in the Kingdom of Cambodia.The CDC highlights these 4 foundations of the upcoming investment law in Cambodia:Establishment of an investment incentive regime that is transparent, predictable, non-discriminatory, competitive, and supports socio-economic policiesModernization, increasing the productivity of local industries, strengthening the connection to the regional and global supply chain by promoting the growth of capital inflows, transfer of technology, and skill know-how.Increasing Cambodia's competitiveness to make its economic structure more diversified and resilient to regional and global crises.Providing protection of rights and interests to investors in the Kingdom of Cambodia through the establishment of a comprehensive and balanced legal framework in line with national interests.In order to increase the efficiency of providing services to investors, this draft law also highlights the mechanism for reviewing and deciding on private investment and resolving disputes related to investment projects through delegation to the Capital-Provincial Administration, as established by the Royal Government. Capital-Provincial Investment Sub-Committees will be established through succeeding sub-decrees.In addition, the draft law provides value-added tax exemptions for the purchase of locally produced inputs in order to link local producers to the investment project's production chain, as well as to promote the use of local products. The draft law is also designed to be flexible, with special incentives for specific sectors and investment activities that have high potential to contribute to national development in line with government policy. This special incentive will be set out in the Law on Financial Management.The new investment law incorporates some of Cambodia's international obligations to show all investors the commitment of the Royal Government of Cambodia to protect investment and provide guarantees in accordance with International law governing non-discrimination as well as the provision of investment maintenance servicesThe American Chamber of Commerce Cambodia (AmCham), last August 12, held a virtual forum on their Facebook page to discuss key points about the upcoming investment law. The forum was moderated by AmCham Governor Rina Ing and attended by AmCham President Anthony Galliano with special guests Jay Cohen, Partner and Director of Tilleke & Gibbins Cambodia, and Dr. Sok Siphana, founder of law firm Sok Siphana & Associates and Advisor to the Royal Government of Cambodia.In the discussion, the new law provides incentives for priority areas such as (but not limited to): research & development, job creation, skills training, development and innovation, and small and medium enterprises. Dr. Siphana emphasized on the importance SMEs play in Cambodia’s economic growth, citing that Cambodia’s tycoons are not representative of the Kingdom’s larger economy and the new investment law will grant SMEs the opportunity to be part of the regional supply chain.Key international trading partnerships to note for Cambodia are the China-Cambodia Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP), a massive free-trade agreement between China, South Korea, Japan, the ASEAN, and Oceanic countries.Jay Cohen mentions the importance of reviewing the “Negative List”, a list of businesses excluded from investment incentives. Cohen expects this list to be updated and will be setting a threshold for both local and international companies. He additionally stressed the importance of upcoming changes in taxes, remarking, “the devil is in the details”.As of August 2021, the new Cambodia investment law is still in its drafting phase and is expected to be ratified sometime in 2022.Interested in investing in Cambodia? Check out our Why Cambodia Guide!

On-track for June 2022 completionThe PARC 21 Residence, a new residential development in Chamkarmon, reports steady construction and is on track for its expected completion in June 2022 despite COVID-19. The project is currently topping off its 22nd floor and has started work on the swimming pool and other amenities located on the roof deck.Continued interest from buyers despite COVID-19The PARC 21 Residence continues to gather steam as almost a million dollars worth of properties were sold as of July 2021. The apparent value of the project - especially among middle-class Cambodians, expatriate buyers, and foreign investors - continues to drive inquiries and frequent visits to their showroom in The Point Community Mall along Mao Tse Toung Boulevard.The PARC 21 Residence is backed by an international group of investors based in Singapore and Hong Kong. It adopts the Singaporean design philosophy of a “A city in a garden” which builds residential units based on smart spatial planning and natural light allowing fluidity of movements.Buyers in the PARC 21 Residence understand the end of COVID-19 in Cambodia is a matter of “when”. The PARC 21 Residence also offers a 21% Guaranteed Rental Returns over 3 years, a highly competitive rate based on the developer’s confidence in the market’s potential to bounce back.Given PARC 21’s scheduled completion date is June 2022, international investors are equally confident Cambodia’s pandemic situation will be much under control, given the government’s continued efforts in maintaining a consistent flow of vaccines and widespread vaccination campaigns.But it’s not just foreign investors looking forward to Cambodia’s return to form. Cambodian property seekers are similarly expecting things to be better in 2022. PARC 21’s location in a widely popular area and affordable payment terms, among locals and tourists, will only benefit from the expected economic recovery by the time of its completion.New prices and discounts for August 2021The PARC 21 Residence has announced a new set of prices for August buyers as the project moves closer to its completion date. While prices may have risen, the PARC 21 has also extended an exclusive discount for buyers who book a unit within August 2021.The exclusive sales partner of the PARC 21 Residence, FazWaz Cambodia, notes there is currently $800,000+ worth of deals at the negotiation stage. The discount extension is expected to attract more buyers who are on the fence, and help close deals currently in negotiation before prices rise again in September 2021.Interested in the PARC 21 Residence? Inquire today before prices increase again!Inquire about PARC 21 ResidenceView PARC 21 Residence Property Listing

Cambodia’s property market saw a moment of reprieve in July 2021 with bumps in online searches for real estate and subsequent inquiries for projects continuing to market their discounts and flexible payment terms. This comes off the back of June 2021 that was reeling from Phnom Penh’s April-May lockdown.Earlier in July, the government recently announced the conclusion of its mass vaccination campaign in Phnom Penh and has focused its resources on other provinces like Kandal, Siem Reap, and Sihanoukville. The government is implementing a mass vaccination campaign for children ages 12 to 17 as part of its goal to achieve herd immunity in major economic centres like Phnom Penh.However, the recent spread of the COVID-19 delta variant has prompted health authorities to impose a new curfew in the first week of August. Google’s Mobility Tracker is starting to reflect the initial ramp-up of people choosing to stay home following the new lockdowns.SALE PRICES IN PHNOM PENHSale prices for new developments in Cambodia remain well below pre-pandemic figures. This market continues to see adjustments as the pandemic situation in Cambodia continues to spell uncertainty in the short-term and most property seekers become more discerning in their investments.Affordable and mid-range projects for the past year have been popular among the local market. The shift in attention by developers towards the local market has additionally highlighted the demand for flexible payment terms. Big developers are meeting this by forming partnerships with local banks to provide payment terms amenable to the majority of Khmer buyers.July 2021 price and size breakdown for condominiums in Phnom Penh:Unit sizeMedian price per sqmMedian unit size1 bedroom$1,81046 sqm2 bedroom$2,19472 sqm3 bedroom$2,545113 sqmMost Phnom Penh developers continue to see comparably low sales activity, with a few notable exceptions. The PARC 21 Residence in Boeung Trabek surged in popularity in June-July 2021 having closed almost $1 million in deals. The Singaporean-designed project is reported to have another $800,000 worth of deals in the negotiation stage, according to its exclusive sales partner FazWaz Cambodia.Realestate.com.kh, PARC 21’s exclusive marketing partner, notes the project’s popularity stems from meeting the demand of both local and international investors for projects with a strategic location, competitive pricing, and solid progress despite global supply chain disruption. The PARC 21 Residence is expected to be completed by June 2022.The disruption in global supply chains affected many of the new developments in Phnom Penh causing delays in construction As a result, investors still looking to invest in Cambodia have started looking at projects close to completion and even finished ones.The Silvertown Metropolitan is a completed project in BKK1 seeing renewed attention from property investors. Developed and managed by Naki Realty, Silvertown Metropolitan is a well-known serviced apartment among high-end renters in Phnom Penh. The project recently restarted its marketing efforts as providing a foot-in-the-door in the high-end renters’ market and as a finished project - saving investors the worry of “will this project be finished?”.RENT PRICES IN PHNOM PENHPhnom Penh’s residential rental market has largely stabilized within the pandemic market. Realestate.com.kh’s Market Trends shows little-to-no changes from last month’s recorded prices.June 2021 Price Trends by Bedroom for Apartments for Rent:1-bedroom apartment rent per month: 600 USD (No change from June)2-bedroom apartment rent per month: 1,000 USD (No change from June)3-bedroom apartment rent per month: 1,800 USD (No change from June)June 2021 Price Trends by Bedroom for Houses for Rent:2-bedroom house rent per month: 800 USD (No change since June)3-bedroom house rent per month: 1,500 USD (6.25% decrease from June)The renters’ pool in Phnom Penh remains low compared to 2019, before the pandemic prices. Until foreign workers and tourists return, rental landlords will have to find ways of attracting new renters and understanding the needs of their remaining tenants.District and Property Type Popularity in Phnom PenhRealestate.com.kh cites an increase in property searches in July 2021 across 8 districts in Phnom Penh. Property searches surged once again in July following confidence that there would be a return to “normalcy” within the context of COVID-19. Most popular districts in Phnom Penh as of July 2021:Chamkarmon - Remains the most popular district to look for property in Phnom Penh. Most users look for apartments/condos and landed properties in Tonle Bassac and Toul Tompoung I. Boeung Trabek also surged in popularity due to PARC 21 Residence. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyBoeung Keng Kang - One of Phnom Penh’s CBD, the BKK1 area remains a popular choice among many property seekers due to its central location and array of modern residential choices and quality-of-life conveniences. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyDaun Penh - The primary CBD of Phnom Penh where key tourist attractions are located and where most business and financial companies are headquartered. It is the central district of Phnom Penh and is the most developed. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyChroy Changvar - This peninsular district has overtaken other outer districts like Sen Sok as property developers and home buyers look to this area as the next suburban development hotspot in Phnom Penh. Most popular property types searched:Landed houseApartment/condoLand propertyCommercial propertyToul Kork - This central district is adjacent to Daun Penh and is comparable to the convenience found within the CBD. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyRealestate.com.kh’s Condominium Market Overview in Phnom Penh is a monthly report based on its internal developer tracking and data collected from over 35,000 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? 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Century Plaza, an upcoming shopping centre in Por Senchey, recently signed on Realestate.com.kh and FazWaz Cambodia as its marketing & sales partners.Realestate.com.kh is the largest property classifieds portal in Cambodia and FazWaz Cambodia is the first-tech enabled brokerage in the Kingdom. Both companies, earlier in 2021, signed a Memorandum of Understanding (MoU) to provide a one-stop marketing-sales solution for property developers.Century Plaza is a commercial complex rising along the Russian Boulevard in Por Senchey district. This new shopping centre will integrate retail, entertainment, office, and hotel functions in the district’s busiest shopping area. It stands in place of the well-known Old Market, taking all that has made it popular to Por Senchey’s residents, and transforming it into a shopping plaza with all the modern conveniences found in the capital city’s more centrally-located shopping centres.Century Plaza will have multiple floors and basement parking. Each floor will feature specific types of goods and services that make it easy for shoppers to navigate. The Century Plaza already has over 670 store owners temporarily set up in front of the Century Plaza construction site. Given the popularity of the Old Market, Century Plaza’s expected completion in late Q4 2021 is a much-anticipated development in Por Senchey.Mr. Tom O’Sullivan, CEO of Realestate.com.kh, said “We are proud to have such a popular project as one of our partners. Century Plaza stands on top of the popular Old Market, making it immediately recognizable to many in the district. Additionally, it already has 670 store owners, which speaks volumes in the confidence the local market has in Century Plaza”“We are expecting Century Plaza to be a landmark development in Por Senchey and our team is looking forward to sharing the project’s opportunities with the whole of Cambodia and abroad,” he said.Mr. James Whitehead, CEO of FazWaz Cambodia, said “We’re happy to have Century Plaza on board. It’s a strategically located modern shopping centre along a major road artery (Russian Boulevard) and is only 1.5 kilometres from the airport. It’s unique in its design and, thanks to the Old Market, already has established value as a go-to shopping area among long-time residents of Por Senchey.”About Century PlazaCentury Plaza is a new shopping centre along Russian Boulevard in Por Senchey. The project was developed by JLECC, a property developer with 6 Chinese National Grade A Engineering Consulting Qualifications and 2 Cambodian National Grade A Design and Construction Qualifications. JLECC is working with the Phnom Penh Municipality to realize Por Senchey as a suburban retail hub.Century Plaza has a total of 6 floors with retail/commercial/hotel functions and 2 basement floors for parking. Each shopping floor will host a wide range of stores where its 670 (and growing) store owners are getting ready to sell various goods and services once it opens towards the end of 2021.View Century Plaza 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 has 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.Advertise with usContact Information:Tom O’SullivanRealestate.com.kh, CEOtom.osullivan@realestate.com.khJames WhiteheadFazWaz Cambodia, CEOjames@fazwaz-kh.com

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: