In fact, this is when Phnom Penh became known as the Pearl of Asia. Much of the French colonial architecture is still alive, too, and can be explored to this day.
Despite the general consensus that the property market in Siem Reap has slowed down, many experts are bullish on the potential of the area.
According to real estate investment company JLL, the value of investable commercial property worldwide will hit US$65 trillion by 2020. Nearly a third of that, it stated in a recent report, will be in the Asia Pacific region.
Earlier this year, the World Bank reiterated that Cambodia’s GDP growth will stay above 6 percent through 2020.
According to the latest semi-annual report from the National Bank of Cambodia (NBC), the construction sector is set to be one of the biggest contributors to the Kingdom’s forecasted 7 percent economic growth this year.
Imagine a future where no one goes to an office, but rather, does all their work via the internet. This isn’t science fiction. The independence of being a freelancer, entrepreneur or digital nomad is becoming a reality for more people every day.
New real estate developments have been shooting up across Siem Reap over the past few years. Indeed, the Kingdom’s main tourist draw has seen a spate of new hotels, boutique accommodations, guest houses and apartments.
Cambodia is undergoing a massive population shift. Day by day, Kingdom residents become both more connected by technology and more urbanised.
The speedy development of Cambodia’s real estate sector has been a key factor in the country’s constant GDP growth of around 7%. Indeed, growth has hovered at this level for nearly a decade.
The growth in Cambodia’s real estate sector has been turning heads as of late. Housing trends in the country are changing massively. Living standards and land values are going up.
Cambodia is considered one of the fastest growing economies in Asia. Without a doubt, this growth has driven rapid progress in real estate.
Development seems to have Phnom Penh almost bursting at its seams. One district, however, still holds plenty of the Kingdom’s natural beauty. That’s not to say Chbar Ampov is remote. In fact, it has all the modern touches of city life. It has plenty of breathtaking views as well.
Amid breakneck property development in the Kingdom’s capital city of Phnom Penh, the other major centres of Sihanoukville and Siem Reap are now showing an increasing number of real estate projects that are either nearing completion or in the pipeline.
The development of the capital is currently expanding due to a growing urban population, a burgeoning real estate market, and the influence of foreign direct investment. Movement is being seen at all levels from high-end projects to affordable options.
The high number of real estate projects completed, underway, or in the pipeline are a testament to the growth and potential of the industry.
Cambodia’s focus on infrastructure development is expected to help the Kingdom’s economy to keep humming in the foreseeable future.
After the huge success at the inaugural Cambodia Real Estate Shows in 2017, the much anticipated show known now as the Realestate.com.kh EXPO 2018 is returning this October 19 to 20 to NagaWorld Hotel.
Khmer Times sat down with Simon Griffiths, Managing Director of UAS to understand more about UAS, the timing of the company launch and the growing retail sector in Phnom Penh and beyond.
In the next five years or so, Cambodia’s property market will be diverse and able to compete in terms of quality with other centers across the Asean region.
With Cambodia’s economy showing no signs of slowing down and a building boom in full swing, local and international real estate developers are flocking to Cambodia in record numbers.
The Daun Penh, 7 Makara, and Chamkarmon Districts, all in central Phnom Penh, have the most expensive land in Cambodia’s capital city.
Cambodia’s northwestern border town of Poipet is fast becoming a rival to Sihanoukville in terms of real estate development.
Phnom Penh, Cambodia’s capital city, is seeing a rapid population growth with many people from the provinces coming to live in the city.
Oakwood Worldwide, a premier global corporate housing and serviced apartment provider, will soon have a presence in Cambodia.
Siem Reap is one of the three major cities of Cambodia. The site of the world-renowned Angkor temples, Siem Reap is also the Kingdom’s leading tourist destination.
Buoyed by a strong economy and massive infusion of cash from abroad, the Cambodian real estate industry has, in the last half-decade, enjoyed some of its best years.
Architecture is the art and science of design that provide us the physical environment we live in.
Sihanoukville, a fast-developing urban area that hosts Cambodia’s sole deep-water seaport, is experiencing a building boom rivalled only by touristy Siem Reap and the Kingdom’s capital city of Phnom Penh.
The United Nations Development Programme (UNDP) is supporting the Phnom Penh Special Economic Zone’s (PPSEZ) housing project.
With many mall and shopping center projects finished or set to be completed before the end of 2018, Phnom Penh’s retail space market is set for a banner year.