A state visit between the  Cambodian government and the Government of the People's Republic of China last 13th and 14th of October 2016 was participated by both Prime Minister of Cambodia and President of China.This visit in Cambodia brought about an agreement and a memorandum of understanding of 31 points related to various fields, including the strengthening of international cooperation, economy and finance (business), taxation, law enforcement, industry and handicrafts, water resource management and  irrigation, environment, and infrastructural construction.Meanwhile, in the afternoon of October 14, 2016, Sun Chanthol – Minister of Public Works and Transport – signed an agreement for 3 major construction projects with China that are expected to begin construction in 2017. The three new projects include the National Highway projects from Phnom Penh to Sihanoukville, National Road project No. 11 from Neak Loeung to Tnal Toteung, and a project for a bridge across the Mekong river, in the area of Kroch Chmar to Steung Trang.National highway Project from Phnom Penh to Sihanoukville:This project will be built and managed by a private company before transferring to the Royal Government. It will be developed by the China Road & Bridge Corporation (CRBC).The whole project will cost a total of about $1,900 million. According to minister Sun Chan Thol, this new project will be serving as a significant, convenient, and fast transportation means for both locals and international visitors moving between the two areas.  National Road Project No. 11 Between Neak Loeung and Tnal Toteung:   This infrastructure project aims to restore the existing National Road No.11 from Neak Loeung to Tnal Toteung that’s developed and managed by the Kwangchow Van An Construction Management Company. The project will cost approximately $98 million and will measure 96,481 kilometers in length and a road width of 11 meters. The Bridge Construction Project Across the Mekong River Kroch Chmar – Steung Trang:This infrastructure project will build a bridge across the Mekong River in Kroch Chmar district, Tbong Khmum province all the way to the Stueng Trang district in the Kampong Cham Province. This project will cost a total of $57 million. It will have a length of 1,131 meters and a width of 13,50 meters.It’s important to note that along with the construction of the bridge, there is also another project being planned as a technical control project over a the bridge in order to control other technical aspects that will be done in cooperation with the Kwangchow Van An Construction Management Company.Among the 31 points in the agreement and the memorandum of understanding between Cambodia and China, there will also be more agreements for other real estate and infrastructure developments that will be done successively in the future such as: Exchange of Note on the Construction Project for Medical Center Cambodia - China Chinese Yuan Loan Agreement for the construction of Road No. 51 Concession Agreement for the development of the Siem Reap - Angkor International Airport Chinese Yuan Loan Agreement for the construction of Second Ring Road City Protocol Agreement for power plants, operating by coal, 450MV power in Sihanoukville Keep up with the latest infrastructure news on Realestate.com.khClick here to download your free copy!

Since January this year, CARE Cambodia and partners have been undertaking the Labour Rights for Female Construction Workers Project, funded by the EU and the Austrian Development Cooperation.Yet who are female construction workers? And why should CARE and construction companies assist them? Initial research for the project reveals some insights.The majority of female construction workers are married with children, and working on constructions sites with their families. They are mostly over 30, a much older cohort than other female workers in other unskilled occupations, such as the garment or entertainment industries. Most women working in construction have little education and have migrated to work in Phnom Penh because they are poor. CARE’s research identifies that these women workers have little knowledge of their rights or protections.Both women working in the industry and employers report that women bring particular skills to the work they do. “Women are good at detailed tasks such as tying metal rods together neatly and they work faster than men.” “Some of women working here can mix cement very well, better than men. They  are  very  organised,  put  away  materials  after  they  complete  their  work, and they clean well.”Despite this, nine in ten female construction workers report that they don’t get paid as much as men and many report that the jobs they do are not the same as men. Roles, responsibilities and rights are different between men and women working in the construction sector and this has implications for both workers and employers.CARE’s training, delivered in partnership with the Ministry of Labour and Vocational Training, explores these issues. It covers the topics of: gender and culture, labour rights, rights for women, and occupational safety. Attendees will gain greater insights into the situation of their female workers, and may learn of ways that women can be both protected as employees and encouraged to work to their full potential.The next training will be held on 25 October and places are limited. More information is available in both English and Khmer. Further sessions will be held in November and December. To reserve a place for your company, please contact Ms Eat Sopheak on 012 721 321 or sopheak.eat@careint.org. Training will be in Khmer.If you would like more information about CARE’s project, please contact the Project Manager, Ms Kalyan Rath, at kalyan.rath@careint.org or Adviser, Ms Adriana Siddle, at adriana.siddle@careint.org.Learn more about real estate news on Realestate.com.kh!Click here to download your free copy!

Despite recent announcements of large development projects throughout Cambodia focusing on so-called “affordable housing” for the emerging middle class, there remains a massive gap in the market for quality affordable housing for the poor; especially the urban poor as more rural Cambodians flock to cities in search of work. As land prices continue to skyrocket in Cambodia’s commercial centres, those in need of lower-class housing are effectively pushed further and further from worthwhile economic opportunities.Two NGO’s are currently seeking to close this gap, and have discovered a common theme: the need for co-operation and a culture of constructive dialogue between the private and public sector, and NGOs.Habitat for Humanity International is present in 70 countries worldwide, seeking to eliminate poverty housing and homelessness from the world.As Kif Nguyen, national director of Habitat for Humanity Cambodia stresses, “research shows that about 2 million houses in Cambodia do not meet minimum quality standards when it comes to design, durability, access to water/sanitation but also land tenure. Sub-standard housing is one of the key bottlenecks to inclusive, sustainable development across the nation – because poor housing in not only the consequence of poverty, but also a critical root cause.”Furthermore, says Nguyen, “by 2030, according to the National Housing Policy, Cambodia will need 1.1 million more houses to fulfill demand, and the vast majority of this demand will come from the lower-class particularly in urban areas.”Meanwhile, Building Trust International, a UK registered NGO, offers building design assistance to communities and individuals in need. David Cole, CEO of Building Trust International which has offices in Cambodia, believes that “housing can be a tool to inspire family [and] community investment in areas long after the initial projects are complete - through incremental housing design; and in the formation of jobs and training.”In Cambodia, both of these NGOs provide support for sustainable housing solutions that can meet the needs of the growing urban and rural poor. They also promote transformational community development through financing low income home loans, and encouraging support for their projects from both the private and public sector.A recent project in which Habitat and Building Trust has collaborated on in Cambodia is the design and implementation of the “Framework House” project, a highly sustainable, affordable house built from local bamboo and wood, costing the end buyer just $2,500.Cheap, but highly innovative, these homes are specifically designed for Cambodia. Shutters help encourage air flow and passive ventilation throughout the house while large, overhanging roofs allow for water catchment.The design and testing phase for the Framework House is complete, and the two organizations are now turning towards the next phase: higher-density multi-storey social housing design for urban areas. However, to make these projects succeed on a large scale, both organizations understand that assistance from the public and private sector is crucial.According to Nguyen, the government has already provided assistance and has shown some general willingness to further the collaboration into a larger scale. For instance, in Battambang, Habitat worked with the local Government to facilitate secure land tenure to families who have lived precariously on a large swath of public state land for many years.While the process of gaining secure land tenure is just the first step for sustainable housing development, Nguyen lamented that “it wasn’t easy. But, it can be done.” After each family receives a land certificate, Habitat then assists with the on-site development of homes and infrastructure projects such as roads and drainage systems.“Provision or subsidies of land is the key. We have the technical solutions – we can build affordable homes of high quality, as Habitat has done around the world, but as land prices soar in urban areas, we need support from the public and private sector in gaining access to land in adequate locations and at prices which won’t exclude the low income earners from the market,” added Nguyen.Through “Land Sharing” initiatives in which the three sectors genuinely co-operate, Nguyen firmly believes all Cambodian’s could achieve a decent standard of living. “The NGO sector has the knowledge of social housing and technical ability to design these projects; the private sector has the money; and the Government may facilitate access to land. If we create a culture of co-operation and constructive dialogue between these three sectors, we can change the status quo – and everyone can win.”Market Development is also another string on Habitat’s bow in Cambodia, as the organization supports low-income families in gaining access to home loan finance.“We helped 6000 families’ access home loans last year alone, but with increased support from the government, we have the potential to bring home financing to the masses. It is a viable market, and the largest share by far – but it requires more understanding and education throughout the lower-class and within the micro-financing industry,” he said.“In Cambodia’s three main urban centers, namely Phnom Penh, Battambang and Siem Reap, existing communities will need a portion of subsidized land for low cost housing or else today’s baby boomers will be priced out of the highly inflated, speculative land prices - which is increasingly what we are seeing,” says Cole. Currently, the rapid urbanization being seen in the city suburbs are pushing organizations like Habitat to look as far afield as Oudong when seeking affordable land to house families in need.“Whilst it is good to hear that people are talking about investment in affordable housing without government subsidies, says Cole, “the cost of units in these projects will still exclude many key workers and service professionals, or indeed lead to unsustainable debts and the social problems that follow.”“If real affordable housing of a good quality is to be achieved in urban centers such as Phnom Penh, we believe that the government must either provide land at a subsidized rate for building, or allocate land and build municipal housing with the support of organizations like Building Trust and Habitat - with fixed rents being paid to the government to recoup costs, maintain and build further projects,” confirms Cole.Click here for current  properties for sale in Cambodia and current properties for rent in CambodiaCheck out the best real estate news on Realestate.com.kh

Serving as a stronghold for political and economic stability for seven decades, the Kingdom of Thailand is now at a standstill as it grieves the loss of King Bhumibol Adulyadej – the world’s longest serving monarch. The King, who also served as Thailand’s main father figure, passed away yesterday at 2:52pm, Thailand time. The Royal Household Bureau characterized it as a peaceful death.Dealing with Uncertainty:Meanwhile, as crowds gathered at the hospital to show their sympathy, many are also concerned about economic changes arising from a new leadership. The King’s governance had brought about both political and socio-economic stability for the past decades. Some fear that foreign property investors in Thailand, a traditionally popular market in the region with attractive returns on investment, will see this small window of uncertainty as a foreshadowing of a decline in the market.Alex Evengroen, ceo of real estate firm Key Real Estate Co., Ltd., weighs in on the situation and says, “The challenge in Thailand’s real estate industry will be to keep improving and moving forward for foreign as well as for the local investors in Thailand. We will have to wait and see if in the near future the policies in Thailand will stay as it is or will become more flexible for people worldwide.”Property Investment Moving With or From Thailand?Although mixed perspectives are being drawn from this unfortunate event, some experts are hinting that potential investors may choose to place their money in nearby emerging countries like Cambodia until these uncertainties are eliminated and stability is once again ensured.Bobby Peoples, Country Manager of HomeConnect  Cambodia – a premier expat home search company – explains, “Due to the death of King Bhumibol Adulyadej, the military junta must show the Thai people during the following period of uncertainty that they can provide security, stability and political reconciliation. If they fail, both Thai investors and foreigners looking at property investment in Thailand may look to Cambodia as a safer option. Although this remains to be seen.”Evengroen, however, remained skeptical. He explains, “As a specialist in the Real Estate industry I do not think it will affect the Real Estate market in Cambodia due to the fact that not many Thai investors or homebuyers have invested in the real estate sector in general.”But Evengroen remains hopeful. He continues, “I hope that in the near future both countries will come together and discuss potential opportunities for the industry what hopefully will improve the ties and strengthen relationships for the future.”The world has lost a great man, and Thailand has lost the father of its people, but is it also about to lose an economic battle? The next few days are critical, and people will be at the edge of their seats, anxiously waiting as Thailand enters into a new chapter of its history.  Keep up with the latest real estate news, every day of the week!Click here to download your free copy!

Within the past two decades, different forms of land titles have popped up. Transactions have made a steady change as a result of that.And Grant Fitzgerald – Country Manager of IPS Cambodia – gives a bit of an overview on each type of title during his recent talk with Realestate.com.kh.Soft Land Titles in Cambodia:Fitzgerald mentions that soft titles are the most common form of land ownership. Around 85 percent of all properties in Cambodia are owned through a soft title and are registered both at Sangkat and Khan – council and district – levels only. He mentions that soft titles are transferred in less than 10 working days at a low cost.Hard Land Titles in Cambodia:Fitzgerald explains that hard titles are “the strongest form of ownership here in Cambodia.” Hard titles are registered at a national level – through the Ministry of Land Management, Urban Planning and Construction. Transfer of hard titles are done at the cadastral office and usually takes 12 weeks to complete. You also have to pay a 4 percent transfer tax.LMAP Land Titles in Cambodia:Fitzgerald explains that the LMAP or the “Land Management and Administration Project” came into existence in 2002 with the help of the World Bank. He says that the project was designed “with the idea of improving the quality of the information on the property titles here in Cambodia.”Similarly, the transfer costs and timeframe are almost the same between LMAP titles and hard titles. The difference though is that LMAP titles are anchored on GPS points and are aimed towards more rural geographical locations.Co-ownership “Strata Titles”:Fitzgerald explains that “strata titles are available for foreigners, where the others aren’t.” He also mentions that strata titles have a much more specific set of qualifications. Among these qualifications is the restriction of foreign ownership of up to only 70 percent of a building, provided that it does not touch the ground floor. It’s only applicable for buildings built after 2010 and should not be within 30 kilometers of any national border.Strata titles are also recognised at the Ministry of Land Management, Urban Planning and Construction.  And both transfer time and transfer costs are similar to Hard titles and LMAP titlesCheck out IPS properties for sale and rent on Realestate.com.kh today!

Details are emerging in the market regarding a major new development project in central Phnom Penh. Royal One, a project of the Royal Group of Companies (Cambodia), will have two towers and stand with a height of 62 floors. It will be located strategically along Monivong Boulevard – in front of the Ganesha Statue, not so far from the airport – and will have a view of the cityscape.Innovation and Design of Royal One:The Royal One project has been designed around the concept of effective land use, allowing two towers to fit into a relatively limited land area - the plot being located on Monivong Boulevard, near to Central Market and Canadia Tower. The first of the two towers will serve as an office building and the second one as a hotel and residential building. A retail podium will also be constructed, along with several parking  floors.Aesthetically, the developers will be utilizing lines and patterns as an attempt to give it a modern and sophisticated appeal. They also plan to feature a modern man-made waterfall in between the two buildings, further intensifying their aim to turn it into a “forever landmark”. Prices for luxury condominium units are projected start at around $3,500 per square meter. The construction of The Royal One development will start in 2017 and is expected to reach completion by the end of the year 2021.About the Developer of Royal One:The Royal Group is a holding company and a large diversified conglomerate that has investments across various Cambodian industries – telecommunications, banking, resorts, education, media, insurance, trading, property, and agriculture. Among the many successful projects they’ve invested in are the Embassy Palace Serviced Apartments, Northbridge Communities, North Park Condominiums, Royal Park Resort in Siem Reap, Hotel Cambodiana, Titan King Casino & Resort Hotel, and the Royal Railway.Find out more and inquire about ROYAL ONE this project today!Click here to download your free copy!

Dear Valued Readers, We are delighted to announce the release of the October 2016 edition of the "Cambodia Real Estate" magazine, powered by Realestate.com.kh! Being part of our exclusive subscribers database, you will have the chance to access our online version before anyone else in the country! In this edition of the Cambodia Real Estate magazine, we review what to keep in mind when investing in plot land in Cambodia; we take a look at the rise of the Toul Tum Poung/Russian market district of central Phnom Penh; and we consider the current issues in the Cambodian valuation industry and how best to address these gaps. And of course, you can check out a huge selection of real estate listings for sale and rent across the nation, and a prime selection of new project property reviews. Smart real estate buyers and sellers know the market inside out before they make their decisions. Because of this, "Cambodia Real Estate" magazine includes valuable analysis, insider advice and easy to read guides about how to invest intelligently in Cambodia. Get your Free Copy!

The Municipality plans to build a bridge across the Tonle Sap River to connect from Chroy Chongva Peninsula  to the Russey Keo area in Kilometre Number 6. On October 7th,  2016, The Municipality of Phnom Penh organized a meeting with officials to discuss a plan to build a new road and remove the old railway. Meanwhile, in terms of the construction of a new bridge across the Tonle Sap River, Pa Socheatvong – Governor of the Municipality of Phnom Penh – said that "the budget for the construction of a new bridge has already been prepared, and the construction will start soon."He specified that in the  next step, technical experts will conduct a study of the area and location conditions to ensure that both the east and west ends  will benefit in terms of traffic and the interest of the local population. As of now, the east side is being developed as a satellite city.He said, "The project for the west riverbank of the new bridge will be built on the old railway in Sangkat Russey Keo, Khan Russey Keo, across Route 5, and across the river, towards Street No. 70, Dam of Toul Kork.The governor mentioned that in order to tackle the negative impact of the traffic and to accelerate the process of the building, local authorities will cooperate with the Ministry of Public Works and Transport to take out the old railway and replace it with the construction of a concrete road, measuring 30 meters wide, with a total length of 6 kilometers.He said when these two projects are completed, it will ease the traffic congestion at the entrance in Phnom Penh. This will make it more convenient to travel along National Road No. 5 at Kilometre Number 6, toward the Bridge of Chroy Changva. This will especially benefit the people in the Russey Keo area, who used to cross the Chroy Changva Bridge.Regarding the new project, In Setha, Advisor of VTrust Appraisal, believes that the project will be completed because it was thoroughly discussed as part of the government’s strategic plan for the area.He explains that there are currently only two national roads in the city that serve as entry points – Road No. 5 and 6. In some occasions, such as Phchom Ben Day or Khmer New Year, the traffic worsens. So, building the new road or bridge will help ease the traffic situation, both in the area and the whole city.He continues to say that building this new bridge is important to the local people. When the bridge construction is completed, another commercial road will follow. And this will bring more business on the road side. Some anarchic houses will also be removed, and more developments will reach the area.After the planning of the new bridge is completed according to the standards of the government, there will be 4  bridges across the Tonle Sap River; 2 in Chroy Changva, the Bridge of Prek Phnov, and this new bridge project in  Khan Russey Keo.Find out more the recent development news in Cambodia with Realestate.com.kh!   Click here to download your free copy!

Sihanoukville International Airport (formerly Kang Keng Airport) was established in the 1960s. After the Khmer Rouge period, services in the airport stopped until it started operating again in early 2007. But it wasn’t until 2011 that a scheduled service was formally done.A tri-weekly trip from Siem Reap’s Angkor International Airport began in December of 2011, where it was further adjusted in 2013 to accommodate trips from and across Sihanoukville, Siem Reap, and Phnom Penh.Mr. Sin Chansereyvutha, the Director of the State Secretariat of Civil Aviation said that Sihanoukville Airport is the largest airport in the country, which may be the case for the next 10 to 15 years.He explains that the economy of Sihanoukville had increasingly grown stronger, thanks to the economic contributions of the business sector, industry sector, transportation, imports and exports, and tourism. Sihanoukville is becoming a region of great potential as well for the real estate sector as the region was transformed into a special economic zone. Another important factor is the Sihanoukville Autonomous Port, an international port. This is key for economic growth.In addition, Sihanoukville is also a tourist destination for both local and international tourists, with the Sihanoukville International Airport offering convenience and comfort to travelers.There are also domestic and international flights going to Ho Chi Minh City, Phnom Penh, and Siem Reap, along with options to take private aircrafts and helicopters.The Sihanoukville International Airport also has the same geographical environment as the airports in Japan, Hong Kong, and Singapore, where they are near the ports and the sea.Find out more about new development on Realestate.com.kh !Click here to download your free copy!

There’s nothing particularly new with coffee places opening in Phnom Penh. There is a different brand of coffee shop at just about every corner.But the recent launching of the Starbucks Reserve brand in Phnom Penh seems to mean something significantly more for both the international F&B franchise sector, and local urbanite Phnom Penh citizens.Been There, Done That:With 45 years of experience in the coffee industry, Starbucks has managed to open around 22,519 stores worldwide (as of June 28, 2015). The brand has become one of the world’s most recognized, through intensive advertising campaigns and aggressive product placement. Fast-forward to October of 2016, another branch just opened to serve the Cambodian public in Phnom Penh’s BKK1 district. It was launched under the high-end “Reserve” brand of the company. The new branch features two floors and 650 square meters filled with local craftsmanship, including a mural centerpiece depicting the Cambodian Folklore of Sovann Maccha.Starbucks Cambodia has partnered up with a local NGO – Cambodian Children’s Fund – as part of its long-term community investment. They said, “We take a thoughtful, disciplined approach to growth in Cambodia that is locally relevant and in line with our company’s values. Our growth story is not just about expanding our store count in the market.”Something Brewing:Yet Starbucks’ opening of another high-end coffee place doesn’t only signal a positive outlook for the F&B industry…It also transcends into real estate. A few months back, the World Bank declared Cambodia a lower-middle income country - where Cambodians currently have an average yearly income of between $1,026 and $4,035. So, locals are now able to afford items that have a higher price tag, according to the Bank.With this rise in consumers’ expendable incomes, Starbucks isn’t worried about the huge difference in price of their coffee compared to local ones. The local coffee costs about $0.74 (and sometimes as cheap as $0.25), while a small latte from Starbucks is $2.95.If a cup of coffee is any indication of rising incomes, then sectors like real estate might follow a similar trend. Investors may be getting closer to a market in which the local population can afford resale units and higher rental rates. The current lack of a secondary market, resale and rental, for new development units is proving one of the biggest risks of the Cambodian market for pure investors.Furthermore, if the market can prove profitable for Starbucks, other international F&B and consumer goods franchises may look to enter the Cambodian market place as well - spurred by this signal of consumer confidence and affluence. So while Starbucks opening in BKK1 has been warmly welcomed by local cafe enthusiasts keen to try an international flavor, its significance for investors may have longer lasting influence. Find out more about Phnom Penh now in our comprehensive location profile!

Habitat Condos are a unique collection of boutique condo units, located across 14 floors, on cosmopolitan Street 21, of Phnom Penh’s Tonle Bassac district.With their showroom now open - and the opportunity to take possession as soon as November - Habitat Condos represents an assured asset with no uncertainties. Moreover, with the strata titling process underway, Habitat Condos is able to guarantee full freehold ownership upon signing and handover.Constructed to international standard and quality, Habitat Condos meets all embassy employee guidelines, with fire, electrical, security and construction standards of first-world quality and safety.   The developer, Intan Kosem, Cambodia born - educated in Australia, Switzerland and the USA - brings a homegrown sensitivity to Habitat, along with an international appreciation of quality and delivery, all underpinned by  a passion for living spaces that are sustainable and harmonious. Co-developer, Michael Davitt brings to the project his vast experience in construction in Australia.Reassuringly, with DK Sanctuary Apartments as a benchmark for the developer, the quality of construction, maintenance and property management services at Habitat are guaranteed. The company’s previous residential project, DK Sanctuary, also in Tonle Bassac, has maintained a consistent 95% tenant occupancy since opening in 2010. Its residential apartments are presently home to diplomats, CEOs and other senior managers. Strong occupancy levels, backed by testimonials, and a proven rental and property management record—along with the integrity of the construction—underline the developer’s ability to deliver a high-yielding investment in a competitive residential market.With experience in designing the Hard Rock Café in Siem Reap and Audi Showroom in Phnom Penh, Claire Croste of JPMC Architect & Consultant Ltd. has brought a wealth of experience to the Habitat development. With reputable builders, MEP contractors and designers (e.g., SpaceLogic from-Singapore, Luxury Machine -hotel and condominium security and access control) working alongside her, the outcome has been a residential development that sets a new benchmark for design and lifestyle within the cosmopolitan environs of Phnom Penh.  All units include beautiful hardwood floors, harvested from sustainable forests in Cambodia by a reputable international company, with full line traceability. Electronic key systems come standard, with CCTV throughout, and fire-fighting systems and codes in place, complemented by smart TV connections and ceiling ducted A/C systems in all units.Also inclusive to the property are dedicated community areas which include a rooftop saltwater swimming pool, gym, and a BBQ area on the upper rooftop. The top floor duplex units offer stunning views and benefit from a private direct access to these facilities.All buyers are guaranteed unobstructed views as neighbouring properties comprise new low-rise residential housing (30-40 meters) along with manicured areas of green space (an increasing rarity in downtown Phnom Penh). Habitat’s Tonle Bassac location is ideal, with Aeon Mall, Nagaworld, the newly opened Naga Walkway with luxury duty-free shops, Nagaworld II hotel and casino, and the capital’s famed riverside a walk or a short tuk tuk away. While, with the rest of Tonle Bassac on your doorstep and BKK1 just minutes away, the entertainment and dining options are as boundless as they are unique.The Numbers: The average net price is $2780/m2, at a medium gross price of $1750/m2, with a range of unit sizes and styles available, sized between 87m2 to 186m2 (for inclusions, please visit us at showroom or consult the detailed SPA).With a rental rate of return between 8% 10% and no marketing gimmicks, the developer offers a finished product and an honest appraisal of its worth:  “What you see is exactly what you get!” Ready to live, or ready to rent—the choice is yours.The developer’s moto is ‘Our Habitat is Your Home’.You can contact them today at 010 927 450 / 017445083 info@habitat.condos, visit them on www.habitat.condos or www.facebook/habitatcondos and book a showroom visit.See the full Habitat Condo listing!

In Realestate.com.kh's Insider Analysis, real estate market leaders share their outlook on the 2016 Cambodian real estate market.    Sam Yang, ceo of Eastland Development HK Co. Ltd.1) What has been the overriding trend in the Cambodian real estate market of 2016 so far, and what has been the effect of this trend on the current market outlook?“I'd say the increased interest in landed properties and commercial real estate. In Cambodia the value of landed properties is largely driven by the increase in land prices. However, it is expected that during the Cambodian elections next year there will be a cooling trend regarding the land market. The price of landed properties is expected to remain relatively stable though they may drop slightly.As for commercial real estate, I believe the market will remain strong due to the great demand exceeding supply, especially towards the so-called “grade B” offices. Moreover, traditionally foreign enterprises or funds prefer to purchase or invest in projects near completion. As there will be only a few commercial buildings finished next year, I believe that the demand will drive this particular market upward.”2) In your opinion, what is one facet of the market that is most in need of development right now - and that you believe is crucial for the long term health of the Cambodian real estate market? Why? And how might this be achieved?“Education of investors is the most crucially needed factor to maintain a healthy market in the long-term. This is because so many non-Cambodians do not have a clear understanding about this country or even Phnom Penh. As for locals, they don’t yet appreciate fully the benefits of living in a condo. I suggest that there is a strong need to increase this country’s exposure to the rest of the world via advertising abroad, introducing the beauty of this country. And that’s something that the government can lead on and coordinate with the private sector in order to achieve success.”Ross Wheble, country manager of Knight Frank (Cambodia) Pte Ltd.1) What has been the overriding trend in the Cambodian real estate market of 2016 so far, and what has been the effect of this trend on the current market outlook?“One overriding trend that we have witnessed so far in 2016 is the increasing amount of investment coming from China.Previously, Chinese investment was mainly focused on infrastructure and construction contracts, but there has now been significant investment by Chinese developers into Cambodia, a lot of which is being invested in Sihanoukville and the hospitality/gaming sector.Whilst there have been concerns raised regarding the condominium market in Phnom Penh, Cambodia is still an attractive investment destination and Sihanoukville seems to be the next hotspot, which is largely being driven by improving infrastructure.Sihanoukville represents not only a tourist destination with much potential but also a key economic hub with Cambodia’s only operational deep sea port and several Special Economic Zones, and this will drive demand across all real estate sectors in the province. The medium to long term prospects for Sihanoukville are very promising; this is highlighted by the recent announcement that the five star luxury resort operator, Six Senses, will be operating an island retreat on Koh Krabey, scheduled to open in 2017, in addition to several global hotel chains eyeing up the coastal destination.”2) In your opinion, what is one facet of the market that is most in need of development right now - and that you believe is crucial for the long term health of the Cambodian real estate market? Why? And how might this be achieved?“Cambodia’s real estate market is still at a nascent stage of development and teething problems along the way are to be expected. However, a key area of focus for any developing country should be infrastructure. This includes both hard (physical infrastructure; such as roads, railway networks, mass transportation systems, utilities) and soft infrastructure (the education system, healthcare system, financial system) - and it is well documented that infrastructure development is important not only for economic growth but also for poverty reduction which, in turn, increases demand for real estate over the long term.The Government has certainly been making progress in this regard, with numerous major infrastructure projects having completed, commenced construction or been announced during the past few years, but there needs to be an overarching infrastructure policy to set the proper framework.A key obstacle to overcome is the funding of such projects, which is particularly relevant in developing markets. One way to tackle this is through planning policy, which is another area that needs to be addressed to improve transparency in the market. In developed markets, it is not uncommon for developers to be required to make significant contributions to infrastructure improvements to ensure that the impact of high density development on the existing infrastructure network is mitigated. With the increasing number of development projects being announced in the Kingdom’s capital, this is certainly an area that needs to be reviewed.”Matthew Rendall, senior partner at Sok Siphana & Associates, a member of ZICOlaw1) What has been the overriding trend in the Cambodian real estate market of 2016 so far, and what has been the effect of this trend on the current market outlook?“I think the residential condo development has remained the overriding trend.  This has been followed by the residential/retail mixed developments. The effect has been to broaden the areas of Phnom Penh where the expat community is considering residing. Whereas this was previously concentrated in the downtown BKK area, now it is common to see people considering residential offerings on the outskirts of town – out toward the airport as well as over the bridges. It has effectively expanded the expat residential area of Phnom Penh.”2) In your opinion, what is one facet of the market that is most in need of development right now - and that you believe is crucial for the long term health of the Cambodian real estate market? Why? And how might this be achieved? “Not sure on this point. However, what is crucial is the need for developers to organize a working exit strategy.  I.e. The long term management of the apartments blocks once the development is finished and completely sold. There needs to be a development of the owner-run body corporate culture (where owners come together as the management body and control the sinking fund etc).  Failing this, the developers either have to manage the apartments blocks in perpetuity or risk the development falling into disrepair. Buyers will start to look at developer's previous developments and judge them by how well they are managed (when deciding whether to buy into a developer's subsequent development).”Hoem Seiha, research director at VTrust Appraisal Co., Ltd.1) What has been the overriding trend in the Cambodian real estate market of 2016 so far, and what has been the effect of this trend on the current market outlook?“For Cambodia’s real estate market of 2016, a notable trend has been a flooded market supply of housing, namely condominium, borey landed housing units, and plot land parcels - all creating daunting competition among developers who have recently added a new focus on the middle-income group in order to stimulate their sales growth.Condominium projects launched for presale within Phnom Penh during the first half of 2016 came up to 13.3 thousand units, doubling the number over the same period last year. However, housing market demand has been slowing down since start of 2016 due to this oversupply and weak buyer confidence.”2) In your opinion, what is one facet of the market that is most in need of development right now - and that you believe is crucial for the long term health of the Cambodian real estate market? Why? And how might this be achieved?“The real estate sector for now has lots of room to improve, but one most important aspect that needs timely consideration is: (1) legal issues to do with plot land development; and: (2) a recent stimulus by residential developers to propel their sale growth following the overall slowdown in the housing market.For plot land development, this type of supply is a good move to drive the overall real estate market, yet the authorities should study it seriously and set up response mechanisms to encourage and protect licensed developers as well as curb with the unlicensed ones in order to avoid long-term legal troubles.For the recent market stimulus, developers have now offered another very flexible option for home and plot land buyers by applying a zero down payment scheme to drive their sales, and, in the short run, the practice looks good and helpful for the overall market.Yet, while banks are very careful when releasing mortgage loans to buyers, most developers have not conducted enough due diligence on their clients before releasing installment contracts, to avoid future defaults. If not well managed, this could, in the medium-to-long term, create over-indebtedness among unqualified buyers and therefore potentially lead to a mortgage crash. Regulators should study this seriously.”Sunny Soo, managing director of Keystone Property Consultants Co., Ltd., an international associate of Savills  1)  What has been the overriding trend in the Cambodian real estate market of 2016 so far, and what has been the effect of this trend on the current market outlook?“The trend of the real estate market of Cambodia in 2016 remains rather similar to its previous years, where foreign developers are still mainly the condominium builders whilst the local developers are still dominating the landed, gated-residential development.The effect has been much talked about lately -  a fear of oversupply in the future market. This fear and worry is only going to continue it seems, considering market optimism is subsiding in view of slower pick up rate in 2016.But the way I see it, it is normal to have winners and losers in a competitive market where development is in-itself a higher risk business. If any developer’s pre-development preparation is not market-driven but rather fueled by optimism alone, this is the price of ego the market has to pay.”2) In your opinion, what is one facet of the market that is most in need of development right now - and that you believe is crucial for the long term health of the Cambodian real estate market? Why? And how might this be achieved? “My take is the legal policies of a comprehensive town and country planning system has to be in place now and that it needs to improve continuously and simultaneously adjusting to a larger vision in the future, notwithstanding market transparency and good regulatory enforcement framework. There is no other way about it. Legal guidance and clearer future planning policies in line with good enforcement will be of utmost importance to serve and lead the market toward a healthier city development; whether the aim is to subside a strained city’s infrastructures or serving a role of directing sub-urbanization. But more importantly it also leads to better self-regulation in the future, and that’s when the level of assurance for a healthier real estate market can be elevated.”importantly it also leads to better self-regulation in the future, and that’s when the level of assurance for a healthier real estate market can be elevated.”    Read the latest and greatest real estate news on realestate.com.kh today!

Strata Titles have been a staple in the real estate sector for years, but how did it start and how does it work exactly? Grant Fitzgerald, Country Manager for Independent Property Services Cambodia, gives us a rundown on the topic in his recent interview with Realestate.com.kh.How did the Strata Title Law Start and Evolve?Given Cambodia’s desire to grow economically, Fitzgerald explains that the government created the concept of building co-ownership for foreign investors through Strata Titles. He states that there had been much confusion as to the allowance and limitations of this concept since its introduction, but he clarifies that the strata titles are only applicable for buildings constructed after 2010. He adds that foreigners can only own up to 70 percent of the property which should be above the ground floor, and should not be within 30 kilometers of any border.How Strong is a Strata Title and how do End-buyers verify it?Given that the strata title is legitimate, strata titles are a strong form of ownership, Fitzgerald qualifies. He says, “The Strata Title’s registered at the Ministry of Land Management, which is the highest level of government here. So, any title issued at the ministry is a very strong form of ownership.”To verify the legality of the title, you should do ask for both the master hard title and the master development plan. Fitzgerald explains that this gives you access to key information such as the owner’s details, the property details, and the title classification itself – if it really is a hard title. He said, “A part of the process of applying for strata titles is that it needs to be built on a hard-title property. If a developer doesn’t have a hard title, they have a soft title, then they won’t be able to apply for a legitimate strata title condominium.” A developer will also not be able to apply without first submitting a master plan. In addition to that, foreigners aren’t allowed to own properties only with a soft title.Fitzgerald also advises to check the sales and purchase agreement for any reference to strata titles and co-ownership. Without mention of it, he says it should raise a red flag.How is a Strata Title Turned Over/transferred?“The titles are officially applied for when the units are a hundred percent finished and they’re ready to be handed over. That’s when the final paperwork for the strata title’s submitted,” Fitzgerald mentions. He also says that all parties must be present in the country in front of the ministry for transfers to occur. Fitzgerald also mentions that names of the spouses are not required to be on the title unless a buyer wants their spouse to be on it. In this case, the spouse should also be present for the transaction.Strata titling has recently undergone a crackdown due to leniency in the past. And as the government pursues ways to improve growth, we maybe yet to see the strata title law and practice evolve into, hopefully, better forms.Please read more: Cambodia Land Title Classifications Explained, Once and For All!

Toul Tum Poung, better known to most expats as Russian Market, has long been a destination for shopping and eating for locals and tourists - the district being centered by a large traditional wet market, full of stalls stocking everything from motorbike parts to silk, herbs and spices to electronics, and almost anything in between; ideal for anyone in search of a sensory shopping experience.Yet in the last few years, Toul Tum Poung (TTP) has moved beyond a stopover destination and transformed into a hotspot for expats living in Phnom Penh. It has also attracted attention from affluent locals, some seeking a home closer to their inner city workplace and others looking set up retail or accommodation venues.With this inflow of money and foot traffic, retailers are flocking to the area to launch trendy bars, restaurants, gyms and fashion boutiques, with innovation and influences being drawn from the eclectic community here. Meanwhile, apartment and condo developers are also centering in on the area, given the popularity of the area for expat renters and buyers.The cause of this newfound popularity can be traced to a rise in rents and land prices in the Beong Keng Kang (BKK) districts; this area of Phnom Penh once being the first-choice for this class of residents. Yet as condo and hotel developers have dominated land purchases in the BKK suburbs, land prices have risen as high as $7,000 per square meter; and with some of the highest occupancy rates in the capital, rents have jumped significantly also.Celia Boyd, co-owner of LOT 369 cafe and bar in TTP, mentions that “a lot of expats have started moving to TTP because it was still fairly central, but not nearly as expensive as BKK, and in particular BKK1. There are still some great markets, shops and restaurants around, but the area still has a local Cambodian charm.”And unlike other areas in central Phnom Penh, TTP isn’t awash with backpackers, says Boyd: “Tourists come to the markets, but it's not an area for backpackers like street 271, or Siem Reap's Pub street, for example.”“It’s also easy to get around,” continues Boyd, “most places are walking distance from each other in this area, and there's a nice community feel to it.”Brendan McCarthy, proprietor at Long After Dark bar and eatery, notes that, “Life in Russian Market tends to operate at a slightly gentler pace, the community is extremely friendly and it has its own unique rhythm that resonates well with us.”“More and more interesting eating, drinking and shopping options are popping up all the time which is adding to the vibrancy of the suburb,” adds McCarthy, “and I think that the same neighbourhood charm that drew us to the area initially is responsible for this growth.”The boutique fashion industry is rising across the capital city in waves, and none least in TTP. There are more and more boutique vendors such as ESQ, a trendy clothes shop opposite the main market, are opening every month, ideal for those who want a western shopping experience, complete with aircon and fitting rooms. For the best bargains though, or tailored shoes and clothes, stroll around the central Russian market - and get ready to haggle!Seng Hour, co-owner and grill chef at the Toul Tom Poung Grilled Seafood BBQ restaurant, opened his shop in 2012 on the side of the main market. These days Seng’s restaurant serves up over 80 kilograms of freshly barbequed seafood - crabs, fish, shrimp, lobster, shellfish and squid - every night of the week.Seng says his secret to success has been the quality and freshness of his food, fast service and high-hygiene standards, allowing his restaurant to outlive many around him.But Seng say’s it wasn’t always so busy: “The TTP area is completely different than it was just two years ago. Before only few people from around the Russian market came to eat; now local people from Toul Kork and Sen Sok come together with friends and family just to visit our restaurant.”Seng notes that foreigners didn’t really know about his restaurant before, but now “we have lots of foreign diners because they are living in apartments in the area. And more and more serviced apartments are launching in TTP these days.”Yet, as comes with any suburban development, residents of Toul Tum Poung may start to feel its gentrification when it comes to rental rates and sale prices in coming years - just as those in BKK experienced before.Keiko Fujita-Hix, co-founder and owner of Sesame Noodle Bar in Toul Tum Poung, notes that since her restaurant opened in 2012, rents have risen over 50%. Meanwhile, in her venue’s case, the restaurant will soon have to move location - as the landlord looks to convert the section into a new apartment complex development site.But Keiko notes that Sesame will definitely stay put in Toul Tum Poung, even if they need to move venue.“There is a unique community spirit that exists here,” says Keiko, “and a community that our business has invested in - we are close to workers’ family homes, our loyal clientele of diners, and other local businesses that mutually support us, and we wouldn’t want to move anywhere else.”Check out the best properties for rent in Toul Tum Poung on Realestate.com.kh now!

Currently, there is significant growth in the Cambodian market for subdivision plot land because it returns a good profit - and the idea of buying land is a lot easier to understand for local investors. It’s possible for them to have a quick return on investment if they find a good location and invest wisely. It can also be done with just a little savings - so this market has opened up opportunities for the lower middle class to invest in property.But in terms of subdivision plot land buyers, there is a great need for a holistic consideration of the project and the original investor before deciding to buy land in a plot land project.In the discussion regarding the challenges of buying plot land in the Cambodian market, Yin Leangkong – editor in chief of Property View Magazine, and presenter and editor of real estate and economics at BTV – suggested that in the past, the plot land market has faced various problems between developers and buyers.He raised up three corelated aspects that need consideration to avoid disputes that occur over plot land now and into the future.Buyer's due diligence:Buyers must be cautious before buying any land area. You need to know what type of land title the seller has - whether it’s a soft or hard title. Leangkong explains that if there’s an investor with a hard title but only transfers the soft title to the buyer,  this creates great risk for the buyer. In the case when the seller migrates or dies, the hard title will be transferred to their children, relatives or anyone else, according to the law, and a buyer who only has a soft title will not gain possession of the plot land that they have already paid for.Developer/Seller’s Ethics:The second aspect, plot land developer/investors themselves should respect professional ethics and not deceive people. If you have a soft title, transfer it to buyer. If you also have the hard title, transfer it to buyer. Leangkong believes that this is one way of protecting people who buy the land from plot land projects.Meanwhile Leangkong also said that investors need to consider the residential layout and the infrastructural layout that is being provided for all citizens within the project - such as road plans, sewage systems, and electricity connections. He said that when the layout is properly managed, the area of plot land will become a fast development area in the future that’s organized and aesthetically pleasing for residents. This equals investment returns in the short term for buyers, and even more in the longer term.Yet, in recent years, while many plot land projects have been sold with promises of infrastructure to come, in fact, these investors ultimately did not provide what they said they would. Also, some took no control over the management of the land post-sale. Some plot land buyers built high houses, some small, some together or even some for business - which didn’t look like an appealing place to live in once it was all finished, says Leangkong. And some buyers didn’t even build homes because they were waiting for the right time to sell again to make a profit, effectively degrading the whole area.If this continues in the future, this will create anarchy for housing construction within developments, according to Leangkong.Government's Role:The third aspect relates to the Ministry of Land Management, Urban Planning and Construction, and the Ministry of Economy and Finance. Leangkong urged the two ministries to speed up the establishment of a law pertaining to the subdivision plot land management.He said that if we have clear and proper legal provisions, the Ministry will easily be able to implement regulations for investors - such as how many meters to keep for building the road, what the residential layout will be, the drainage system etc. These are for sustainable development which comply with environmental standards and the visual character and beauty of the city.Plot Land Buyers Advice:When asked about what critical point plot land buyers should inspect before buying, Leangkong mentions that most of the buyers of plot land are in the middle and lower middle class, and some of them bought the land for future investment returns. He stressed that most of the prices of plot land aren’t rising anymore. If prices do go up, it won’t be by much because the large-area investors have already taken most of the profits. So, buyers should consider this point before buying in the hopes of dramatic returns.He explains that well-off and wealthy citizens will not buy plot land because it’s a slow development site with relatively slow returns. He adds that the already existing houses that are built without proper planning will most likely not see an increase in value as well.However, Leangkong clarifies that the subdivision plot land has been beneficial to the whole society in some ways because it allows the middle-class or lower middle class to afford to buy land. Everyone should have land for building a good home down the line, concludes Leangkong.Invest with care: Read the ultimate Plot Land Buyers Guide - from Realestate.com.kh

One Park Condominium represents one of Cambodia’s most sophisticated and holistically-planned mixed use developments yet. Covering a total landed area of 7.9 hectares, and a floor area of approximately 2.5 million square feet, One Park is situated in the very heart of the Phnom Penh CBD, inside the newly-developed Phnom Penh City Center area - which is adjacent to the ministerial and financial hub along Confederation de la Russie or Russian Boulevard. Given that the area has been recently developed with no prior structures on the land, the developer, Graticity Real Estate Development (GRED), was presented with an opportunity to plan the entire development layout from the outset, unrestricted by surrounding buildings, caveats or infrastructural limitations - a unique proposition in inner city Phnom Penh.  This has resulted in a design which ensures state of the art base level infrastructure, a relatively low-density design throughout, North-South facing buildings, and a project that is designed with natural forces considered - thanks to in depth studies by the developer on wind flow and shade patterns.Furthermore, thanks to One Park’s central “Parking Podium” concept, the project has a discreet, centrally located car parking facility with over 1,600 self contained car parks. The retail area also caters for fully-off street parking for all owners. These features create convenience for residents and will protect the project from any congestion issues into the future. The layout of the project comes in european style, with wide boardwalks containing retail outlets, bars, cafes and restaurants encircling the entire complex, meeting in the center to create an internal plaza boulevard which cuts between the twin residential sections. The centerpiece of this plaza will be a statue of Eros, better known as cupid - a concept imported from Piccadilly Circus in London. These retail and shophouse units are now almost 100% sold. At the far end of the shopping plaza will be an international school, creating traffic flow for the retail outlets and a buzz of culture inside the One Park complex. Opposite the development, residents will also have access to various green spaces and sporting amenities. Again, wide roads and township planning is assured in the surrounding neighbourhoods of Boeung Kak.Starting from just $170,000 per unit, One Park condo units are sleek, modern and spacious, with fully furnished options available, thanks to GRED’s partnership with DP Architects Singapore, a renowned architectural design firm. Common areas include swimming pools, gyms and children's play areas, with a high proportion of green features maintained throughout the complex.The end result of the One Park design is a truly international product, and a product that will hold its value for decades to come. Graticity Real Estate Development (GRED), the developer behind One Park, is a Hong Kong based real estate development company with a wealth of experience completing grand scale projects to spec, always uniquely tailored to the surroundings and cultural context. Having broken ground in H2 2015, construction is racing forward at the One Park site, under the experienced guidance of China Construction 2nd Engineer Bureau, with over 1,200 workers currently on site, and 24 hour construction works. This means that the Phase 1 of shophouse and retail units will be ready for handover as soon as Q1 2017; and the first phase of  around 1,600 condos will be released to residents by the end of 2017. The international school, within the One Park complex, will be operational by 2018.Find out more about One Park today and secure your place in the new world of Phnom Penh!

Big cities with lots of small spaces are an old tale that’s been told many times before. It may be because of a housing budget issue or maybe because of a lack of proper planning and innovation. And while some choose to focus on what isn’t there, others have chosen to make use of what they have as they try and expand their property – or at least give an illusion of it.So, what should you do if you find yourself cramped and uncomfortable in your own home?Here are some handy tips to make that small condo unit, apartment of shophouse feel more spacious and open, without knocking out any walls! This can improve your lifestyle as a resident in that condo, but it is also a useful trick to use when it comes time to sell or rent that space.Play with Colors:For years, psychologists have deduced that colors play a significant role in affecting our emotions and our behavior. But you can push that a bit further and use that concept to trick your brain.Using light colors on your walls can create the illusion that a room is actually bigger than it is. The reason for that is because we associate dark colors with enclosed spaces like prisons, coffins, and closets. Brighter colors remind us of the sky, the beach, and the open sea. It’s all about using colors and the concept of association.Create Dimensions:While you can go for a more monochromatic feel, using only light colors doesn’t mean you can’t use different shades on the wall to create more depth. It’s all about balance. Alternately, you can also achieve the same effect by actually eliminating the depth between the wall and your furniture. You can do this by using objects of the same color as your wall or use a slightly different shade to create some variation. You can also make use of light and bright color palette to keep your house looking fresh and alive.Spacing Your Space:There is a natural tendency for people to push the furniture as far back to the wall as they can in order to create a big centralized space inside a room. But this hurts your cause more than it helps.Providing small spaces in between furniture not only literally gives you more space, it also gives you the appearance of a bigger room. You can even angle it out so that lines on the room begin to bend and break. This takes the focus away from the corners and effectively widens the visual perspective.Open Up:Just because you’re trying to make your space look bigger doesn’t mean you can’t utilize the space outside the room for continuity. Infinity pools are great examples of this concept.If you have windows, it’s best to not put up curtains. This not only keeps the room’s aesthetic light, it also helps incorporate the view into the space. If you’re at an area at the center of the house though, you can opt to have small windows installed that go through to other rooms. For example, you can install a window between the dining room and the kitchen. This then opens up both spaces and makes both look wider than it is. Make it Magical:Magicians are full of tricks. They use a lot of distractions, slight of hand, and illusions in order to show the audience what’s there and even what isn’t. We can take a cue from that and use tools like mirrors to magically make enclosed areas look bigger by visually duplicating the space. This simple and subtle tip has been effectively used by interior designers for years now.Small spaces don’t have to make you feel like you live in a small space. The only limit to how big small spaces can feel is a little bit of work and a little bit of creativity! Try some of these tips in your home today!Catch the coolest property tips on Realestate.com.kh news today!

Although the housing market’s currently experiencing a slowdown, Yin Leangkong – editor in chief of the magazine Property View and presenter and editor of real estate and economics at the BTV – said that developers should keep investing intelligently in the housing sector.He suggests that intelligent investment means developers should divert their development capital to meet the customers’ needs by targeting affordability for the middle-class and lower middle-class families. After all, these lower income brackets are where the majority of the Cambodian population are currently classed.In practice, some developers are also using some new strategies in the market to counter the sudden decline and appeal to the lower end of the market. Buying Boreys usually required customers to deposit in advance, but the new strategy used by many developers to stimulate sales allows the customer to pay monthly installments - even after the construction is complete - in order for them to buy their desired house.He says this is good for investors and also makes it easier for buyers because they do not need an initial deposit anymore. However, Leangkong warns that "long-term payment from 10 to 20 years means customers have to spend more money than pay cash one time. So, customers need to consider what options would suit their desired outcome seriously.”A report of the Ministry of Land Management, Urban Planning and Construction show that citizens need around 10,000 residential units per year. This was from data gathered where 2014 was met with an insufficient supply and in 2015, there was almost enough units to meet the demand. In 2016, however, the supply seemed to have met the market demand for the year.Leangkong explains that in 2016, the high-medium and high-class citizens have already bought residential homes. Thus, the housing market for these people is already enough. As a result, a number of projects were brought to a halt and the construction sector started slowing down.Leangkong continues that investors will find success in affordable housing for the middle-class and lower middle class as there are more people in these classes and because it will be addressing a visual demand. The bestselling homes still range from $30,000 to $50,000.And according to a Ministry of Finance and Economy report, real estate development shifted from both middle-high and high standard of living to middle and lower middle class to meet with most people's needs. For example, Okhna Sear Rithy’s project is underway to develop an affordable housing project near Phnom Penh.In conclusion, Leangkong urged all the developers to consider selling affordable properties to people to help reduce a social dilemma, to strengthen the economy, and to help the whole country progress towards civilization and modernization.Read another great editorial article: Are Cambodia lifestyle preferences changing?

Infrastructural projects like railway completions, airport expansions, and road widening have been fast-tracking growth in Cambodia. As a result, the tourism sector is experiencing a sudden surge.  According to the Ministry of Tourism, around 2.7 million international visitors traveled to Cambodia. Leading the herd of visitors are the neighboring Vietnamese, Thai, Chinese, and South Koreans.  So, this is being utilized as a resource towards a better tourism strategy.Anticipation Builds:Though declining to communicate project cost and timeline, Chinese-owned development company Tianjin Union Development Group (UDG) announced last week that a plan to construct a coastal airport has already been finalized and that “a geological survey and initial design work has been concluded for this high-grade international airport.” This is according to a representative from UDG. The representative adds, “The construction is ready to go.”The Union Development Group signed a 99-year lease with the government and has been developing projects in its 45,000-hectare of land concession in the districts of Kiri Sakor and Botum Sakor since 2008. Along with this is the government’s commitment to deny any application to construct new airports in the area, making UDG’s development the main airport of the province.The Bigger Picture:Most of the arrivals into Cambodia go through Phnom Penh and Siem Reap, accounting to around 90 percent of visitor arrivals. In comparison, coastal areas only received 8.8 percent of visitors who mostly arrive either by sea or by land. The developers are hopeful that this move will bring that number up. This airport will be a part of a bigger plan that includes the Dara Sakor Seashore Resort and a free trade zone with ports. And much like the expansion project of the Sihanoukville airport, the construction of the new airport in Koh Kong is expected to address any possible congestion.The airport development will be a part of the UDG’s $3.8 billion dollar plan to turn Koh Kong province into one of Cambodia’s main tourist destinations. Once completed, this airport is expected to bring in planes as big as an Airbus 380 and around 10 million travelers.So, will the construction of the Koh Kong airport allow the province to soar high or struggle to fly? We just have to wait for more details about the project to see.Find out new development in Cambodia on Realestate.com.kh

One of the biggest complaints you’ll hear from home and business owners in Cambodia is the high utility bills – particularly, the electric bill.According to the ADB, around late ‘60s and early ‘70s, the power sector started to deteriorate. Attempts at reviving supply ushered in the engagement of  private power producers in the early ‘90s through heavy usage of fuel and diesel. Around 2005, the government started the construction of sub-transmission lines that import electricity from nearby countries.And although Cambodia has locally produced the majority of the supply last year, it still imported 135.5 megawatts from Thailand, 4 megawatts from Laos, and around 277 megawatts from Vietnam. This import process then causes an increase in charges and sets an average Cambodian back $0.25 per kilowatt.Going GreenThe government has been proactive in addressing the issue on power supply and generation throughout the years. And this transcends just constructing eco-friendly buildings. In a recent statement by the tourism department, there are plans to create a garbage-fueled plant and a solar plant which will cost $167 million and $89 million, respectively. The two plants will be situated in Phnom Penh which is expected to generate 30 megawatts and Siem Reap which will generate 55 megawattsThis will be made possible through the ministry’s partnership with French green energy firm Quadran International and Chinese waste incinerator specialty company Shanghai SUS Environment.More Than Power:Other than generating power for Cambodian citizens, the Tourism Ministry sees this as an opportunity to attract even more foreign visitors.Minister of Tourism, Mr. Thong Khon, says, “The policy of green development in Cambodia is transforming the country as a tourist destination, making it green and clean to attract overseas visitors. We hope Phnom Penh will be in the running for Asean’s clean tourist city in 2018.”Not only is it good for tourism, but it will also be good for waste management as this will be one of the primary sources of energy.Will this plan pan out or will the lights dim on these innovative projects? If enough effort is given to making this happen, then there may just be enough spark to make it happen.Find out more about recent infrastructure developments in Cambodia!