While Cambodia has been facing COVID-19 for more than a year, it is only now that a strict government-enforced lockdown has been implemented. Many businesses, particularly in the real estate sector are wondering: “What happens now?”CVEA President Chrek Soknim joins Realestate.com.kh CEO Tom O’Sullivan in an exclusive interview to discuss how the real estate market is responding to the new measures and how to best navigate the market throughout the lockdown.CLICK HERE TO JOIN THE LIVE INTERVIEWThe interview will start on April 21st, 2021 @ 2pm GMT+7. In keeping with lockdown measures, the interview will be conducted via Zoom and will be streamed on Realestate.com.kh’s Facebook page.Realestate.com.kh is continuously working to provide local property seekers and international investors with the tools and information in relation to the Cambodia property market.

Phnom Penh may see a slowdown in property market activity as inter-district travel becomes more restricted. SuppliedThe Cambodian property sector is facing a new round of challenges with the introduction of stricter lockdown measures last Khmer New Year. This time, however, Phnom Penh is at the center of the new quarantine measures leading many businesses, particularly real estate agencies & developers to adapt once again.CBRE Cambodia, a leading real estate consultancy firm, released its Q1 2021 Market Report before the Khmer New Year. According to their latest assessment, the condominium sales market saw respite from the few consecutive quarters with the high-end seeing an uplift of 4.8%, the affordable market seeing an uptick of 3.5%, while the mid-range saw a slight downward movement of 0.4%.The uptick in average sale prices in Q1 2021, particularly in the high-end, is an interesting trend as it is in contrast with how the property market reacted to the comparatively less severe November 28 incident. Though it is worth noting that Cambodia started 2021 with high hopes; such as the positive economic forecast from the National Bank of Cambodia (NBC) sometime back in January 2021.The CBRE report additionally noted only 12 out of the 19 expected condominium completions were delivered from the 2020 pipeline. The delays in construction can largely be attributed to supply chain disruptions across the globe.In terms of rental rates, CBRE’s report observed a positive movement over the first quarter of 2021. The high-end saw an increase of 1.3% and the mid-range saw a 1.7 increase. The affordable market, however, boasted 3.5% quarter-on-quarter growth likely caused by the market’s shift towards the segment.CBRE’s report notes that while these are positive signs, there is still a long way to go to make up for the decreases in both sale and rental prices witnessed over the course of 2020. As a comparison, the high-end rental rate at the end of the relatively well-performing Q1 2021 is still 9.4% below its value from Q1 2020.The property market’s recovery is directly tied with the confidence of buyers to go out and spend. While it is still early to determine how much the lockdown will affect condominium sales and rental trends further into 2021, we can expect the market to slow down due to intercity travel restrictions and the added red tape required to travel between areas.

Borey Lorn City is one of the anticipated boreys soon coming in Chaom Chau 2, Por Sen Chey. Supplied.The supply of landed property projects in Phnom Penh to grow at a rapid pace over the 6 months leading to Q1 2021, according to CBRE Cambodia’s recently released Marketview Q1 2021 Report.Over the 6-month period leading to Q1 2021, Phnom Penh’s landed property sector saw 21 launches across 9 districts. CBRE’s report estimates that these projects will add around 15,500 units to Phnom Penh’s landed property supply. In terms of completions over the same period, CBRE reports that 11 new projects were opened adding 4,500 units to the total housing stock in the capital city.The shift towards more affordable housing continues as newly launched projects are targeting the affordable housing sector. According to CBRE’s report, over 60% of newly launched linkhouses and over 70% of single villas will be priced in the affordable housing range.The report also showed areas where new existing housing supply, currently under construction, and recent launches are located. Sen Sok remains the top choice for many landed housing developments due to its vast flatlands, growing road networks, and increasing availability of commercial establishments that encourage movement in the area.Chbar Ampov, on the other side of Phnom Penh, ranks a far second in terms of existing supply. The peninsula district has also been a popular destination for borey developers. However, Dangkao district is set to overtake Chbar Ampov in existing stock once all its recorded projects are completed.Realestate.com.kh’s upcoming Real Estate Survey 2021 also reported keen interest from property seekers to purchase landed property in Sen Sok and Chroy Changvar in the next 12 months. The report explains that the preference for landed property among Cambodians is driving the popularity of suburban living, and will likely continue to do so in the foreseeable future.Interestingly, CBRE’s report notes a downward adjustment in average quoting sale prices for landed properties. In the period since Q3 2020, single villas saw a downward adjustment of 20.1% followed by linkhouses with a negative adjustment of 19.5%. Other landed property types followed with downward adjustments: 16.7% for shophouses, 15.4% for flathouses, and 13.5% for twin villas.Property seekers looking for landed homes may find it easier to find good deals on the market. To aid this search, Realestate.com.kh is launching the Online Property Flash Sale from May 6 to 9, 2021 featuring new developments and resale properties offered at more attractive prices. Interested buyers are encouraged to register for free.Article by:

The WorldBridge Sport Village is one of the most unique and exciting residential projects soon coming to Phnom Penh. The project is a massive undertaking near the Morodok Techo National Sports Complex, Cambodia’s first modern multipurpose and international standards sports facility designed to host the participants of the 2023 Southeast Asian Games.Upon completion in 2023, the WorldBridge Sport Village is set to become the finest residential choice for any individual/family looking for a comfortable suburban living experience with all the facilities that support an active and sporty lifestyle. In a nutshell: the ultimate Olympic village where you can live like an Olympian!Need to practice your swing for that game with the boys? There’s an in-house driving range for the golf enthusiast. Want to work on your cardio nearby? The running track has got you covered. Want a quick sweat with a game of tennis? Say no more. Or if you're the type who likes to sculpt one's own body indoors, the fully stocked gym will help you get those goals.WorldBridge Sport Village’s location itself is an exciting environment reflecting an active mindset. Having the WorldBridge Sport Village as your home means that you put a premium on living an active, healthy life full of sports and recreation. The surrounding area holds a potential for a great future as its earmarked with more commercial developments soon offering WorldBridge Sport Village residents plenty of things to do and places to see.Garden City’s massive entertainment spots surround the project namely the Waterpark, Safari, and Golf Club, three destinations ideal for families in the WorldBridge Sport Village. The new campus of the Royal University of Phnom Penh is also set to be within a few minutes drive from the project, making it an ideal residence (or even rental investment) for students/families in the long run. The grand cherry on top, however, is the Samdech Techo Hun Sen Dragon City, a 35,000-hectare mega-project set to be the new city centre of Phnom Penh coming in 2028!The WorldBridge Sport Village’s whole concept is designed to integrate all these surrounding features with a top-shelf, comfortable living experience where every whim can be satisfied without having to leave its grounds - all without interfering with their sense of security and privacy. The WorldBridge Sport Village will come with its own shopping mall, residents can engage in retail with all the international brands as well as have all necessities within arms reach right from the supermarket. After a shopping expedition or a hard day of active living, one can unwind in one of the many exquisite food and beverage outlets.We’ve talked plenty about what residents can do when living, but where can they actually stay?The WorldBridge Sport Village has quite the variety when it comes to the different units available. There's the top-tier Condo Residential unit, which provides spacious rooms with up to 3 bedroom options and the best view of the stunning landscape that surrounds the whole complex.There are Semi-detached villa units for those who prefer a more individual residence. The high-quality features and interiors built into these villas give the impression of a holiday getaway home, except it’s actually someone’s actual home.The Row and Townhouses are among the best in their respective classes providing a modest yet high-quality home for the many Cambodian families that would fit well here. Shophouses at the WorldBridge Sport Village let the entrepreneurial spirit of Cambodians stretch its legs with the space allotted for them to set up shop.The WorldBridge Sport Village is soon coming in 2023 and will be one of the most exciting developments in Chroy Changvar, and even Phnom Penh! If you’re interested, check out their property listing for a special price offer.

Get the best prices on the best properties in Cambodian real estate this coming May 2021!Realestate.com.kh, the leading real estate portal in Cambodia, is proud to announce the launch of the Realestate.com.kh Flash Sale, which will take place from May 6 to 9, 2021. The 100% online event will be one of the biggest 4-day sales events in Cambodian history, where property hunters can buy their dream home at some of the best prices ever seen!Realestate.com.kh Online Property Flash SaleDATE: May 6 (Thursday) - May 9, 2021 (Sunday)TIME: 9:00 GMT+7Secure discounts from Cambodia’s top developments & agents100% free registration$200 Fully Refundable Reservation Fee on the day to reserve the discounted priceFor a span of 4 days, first-time home buyers, property investors, and anyone in between can go online shopping for their dream property offered with the best prices of the year from Cambodia’s top developers and agents.Registration for the online event is FREE and interested buyers are highly encouraged to pre-register for the event to receive important information about participating developments leading up to the event. All complete details and discounts on properties, however, will only be revealed on the 6th of May, Thursday!This event follows the huge success of the inaugural online property sales event in Cambodia hosted by Realestate.com.kh in 2020 where over $20 million dollars worth of property was booked!Once the event launches, buyers will be able to find their favorite property and reserve the discount by paying a fully refundable deposit of $200 USD on the day. Buyers who reserve a unit during the 4-day event will then be provided a minimum of 14 days to choose the actual unit with the developer, discuss terms and sign a sales and purchase agreement. If in any case, the buyer does not follow through with their purchase, they will be fully refunded their $200 reservation fee.Lessons from previous economic downturns indicate that property prices dip and certainly bounce back; presenting a small window where buyers are able to acquire properties at significantly more attractive prices. Realestate.com.kh’s Flash Sale seeks to deliver that opportunity to local buyers and international investors in the Kingdom of Cambodia.Realestate.com.kh will be working with Cambodia’s hottest and most popular developments in the market as well as all the trusted real estate agents and agencies to reach as many buyers as possible both locally and internationally.Conventional offline means of reaching clients have been severely hampered by current quarantines and restrictions. The Online Property Flash Sale this coming May will be an avenue where buyers can safely browse for new homes and for agents/developers to present their properties while keeping everyone safe! Interested agents and developers are encouraged to reach out to Realestate.com.kh urgently.Realestate.com.kh has been at the forefront of connecting buyers, developers, and agents and contributing to Cambodia’s real estate market growth since 2009. The Online Property Flash Sale’s objective is to pursue this growth despite the necessary quarantines through continued online marketing efforts.If you are an agent or developer and want more information about this event please contact:Shengwei Zhao 赵生伟English/Chinese+855 085 321 897shengwei.zhao@realestate.com.khSumey Soun ស៊ូមុី សួនKhmer+855 077 241 285mey.soun@realestate.com.kh

Borey Nadi is a brand new borey development in Chroy Changvar district with a unique take on modern community living. Supplied.Cambodia’s continuing struggle with its latest COVID-19 wave is keeping most people indoors, and with more people indoors, the fewer people there are in showrooms. But the preference for land, and the homes that come on top of it, remain a top choice for many Cambodian buyers.According to Realestate.com.kh’s upcoming Real Estate Survey 2021, around 66% of its more than 2,000 respondents chose Phnom Penh as their choice of location. Top districts in the capital for landed property are somewhat tied between Sen Sok at 22% and Chroy Changvar at 21%.Sen Sok is known for its vast flatlands with increasing infrastructure that support both residential and commercial developments. It also does not hurt that the biggest mall in the city, AEON Mall Sen Sok, is located in the district. Realestate.com.kh previously reported that Sen Sok is one of the districts with the lowest median sale prices for property in Phnom Penh.The peninsular district of Chroy Changvar itself is seeing continuous interest from both borey and condominium developers. What Chroy Changvar lacks in its commercial appeal, it certainly makes up for in its natural beauty and suburban living that has become popular among property seekers. This combination has attracted many interesting developments such as Borey Nadi. This borey is a new development in Chroy Changvar that boasts a modern take on community living with its aesthetics and even has cherry blossom trees within its premises, just to name a few of its features.Interestingly enough, the survey also gathered that Cambodian respondents maintain a strong preference for land and landed properties when it comes to property choices. Around 45% chose land as the property they are most likely to buy. Landed properties such as shophouses and villas trail at 22% and 16%, respectively.Apartment units come in last of residential properties at 13% among surveyed Cambodian buyers. The remaining 4% is split among commercial and industrial property choices. However, foreign buyers who participated in the survey overwhelmingly chose apartments as their primary choice - unsurprising as foreigners cannot hold landed properties in the country.A majority of Cambodians are still interested in buying property while a third are choosing to save money for future purchases/investments. The severity of the Feb-20 event continues to streak across the country leading to a significant amount of respondents interested in a new home indicating that they are unsure of when would they will be buying.Despite slowdowns in property market activity, infrastructure projects by the government have not ceased. It is a given that infrastructure, particularly in transportation, are generational developments that would take years if not decades for its return on investment. Authorities pursuing these long-term plans during an economic lull help maintain the future potential of many landed properties in and around Phnom Penh.Article by:

PHNOM PENH, 27 March 2021 –  GCC today announced the launch of Nadi Care for Borey Nadi’s residents. This exciting program is an exclusive service specially curated for residents in Borey Nadi. The Nadi Care program is launched in conjunction with the 5-year anniversary establishment of GCC in Cambodia.“This program is first-of-a-kind in Cambodia. GCC is always a caring developer who believes in crafting the best ever service for the buyers. We recognize that buying a new home represents an important investment and so a great deal of care and workmanship has gone into this development and the establishment of this community. We want to make sure that your home along with the community and recreational facilities are designed to meet your needs and your family members. Nadi Care is a program specially curated to ensure all houses can enjoy effortless luxury living in the community. From a private shuttle to AEON Mall to organising a wedding party at Crystal Hall, the team at Nadi will make sure that nothing is a trouble when the house owners are with us.  We want to make sure that the residents need not worry as their parents and kids can take our private shuttle to AEON mall or any other places safely and comfortably,” said Eric Chong, Chief Executive Officer of GC City and GC Empire.   He added that all buyers of Borey Nadi will automatically become privileged members of Nadi Care as they can enjoy all Nadi Care services and also preferential rates at selected GCC’s subsidiary outlets.  There are a total of 12 services to be associated with Nadi Care which includes basic services such as Private Shuttle Service, 24 Hours Security System, 24 Hours Emergency Medical Support, and ala carte services with 24 Hours Emergency Maintenance Service, Residential Moving Coordination, Housekeeping Service, Personal Trainer, Laundry Service, Car Owner Care, Car Rental & Taxi Service, Event Coordination and Residence Provisioning.“We are passionate about our first Borey development in Cambodia, and we want to make it the best in the market. Borey Nadi is strategically located at Chroy Changvar area, surrounded by various completed and under-construction landmark development such as Morodok Techo National Stadium, Phnom Penh Safari, Win-Win Monument, Dinosaurs Alive, Garden City Golf Club, future Royal University of Phnom Penh campus, Chroy Changvar Satellite City and so on.  With the launch of Nadi Care, we are now one step closer to realizing our vision to bring inspired living to the market and to our esteem buyers. We are building a company that is synonymous with properties that offer world-class quality, innovation, and sustainable and caring value.” Internationally renowned property management consultant Keystone Properties and Bun & Associates are two existing partners for Borey Nadi. Today with the launch of Nadi Care, the level of services provided by Borey Nadi will be further enhanced with the offering of quality and liveability that Cambodia has yet to see.  “GCC has been detailed looking into many contexts so that Borey Nadi can express the vision we imagine for this development.  We are willing to spend extra effort and money to make the Nadi care successful.   Smart buyers will definitely value our effort.  We are delighted to receive a lot of positive feedback and compliments since we opened for sales.   We will launch more exciting projects to our portfolio by this year, for instance, the GC Orussey Market, a local wholesale market that will be a future hotspot and attraction for locals and tourists. We hope you are as excited as us to welcome these projects”, added Eric Chong. At the conference, Eric presented information on Nadi Care whilst also walking through the audience Nadi Care Mobile App.  He also shared about the latest Khmer New Year promotion which Borey Nadi buyers who place booking from 27 March to 30 April will be entitled to local or overseas travel packages to Song Saa Island or Japan. During the Khmer New Year promotion, Borey Nadi also provides a special and convenient payment option for clients to own their dream house at Borey Nadi at an installment as low as USD600 per month.About GCCGolden Cambodia Century (GCC) is an investment holding company from Hong Kong specializing in real estate development, land investment, and financial services (trust and fund management). GCC aims to be a 360 ° full-scale service property developer in Cambodia. Currently, there are 7 subsidiary companies under GCC, which consist of GC City GC Land, GC Empire, GC Realty, GC Design, GC Management, and GC Credit. Current projects of GCC include Borey NADI by GC City, CEO Wyndham Residence, GC Orussey Market, GC Residence at Chroy Changva, and Ream City at Sihanoukville.

Food and beverage businesses are continuing to see a massive drop in-store sales as COVID-19 persists in Cambodia. Photo by K/T Pann Ranchana.The February 20 Community Incident, as if posting, raised Cambodia’s total confirmed COVID-19 cases from 484 to 1753 in a span of 4 weeks. The spike in cases was accompanied by 4 deaths (as of March 22) directly related to COVID-19. Both national and local governments are scrambling to contain the virus’ spread as more provinces report new cases on a daily basis.The resurgence of COVID-19 fears is forcing residents, especially in Phnom Penh, Siem Reap, and Sihanoukville to stay indoors once again. Food & Beverage retailers, in particular, have been hit the hardest over the past year by the lack of people going out due to fears of catching the virus. It was previously reported that 58% of vacated retail spaces are from F&B operators, according to a previous report by The Mall Company (TMC), a retail specialist in Cambodia.The most recent February 20 community incident has vastly surpassed the November 28 incident, requiring more long-term planning from F&B operators in Cambodia.“For Food & Beverage retailers, the go-to everyone is talking about is the delivery apps. But they don’t replace store sales,” said Simon Griffiths, Managing Director of TMC. “They [delivery apps] bring in anywhere from 20% to 40% of normal sales volumes for retailers who have active digital strategies. The truth is, online delivery apps can boost sales and can make stores more profitable but ultimately cannot replace in-store sales, which have plummeted”Delivery apps becoming more prevalent and in-store sales plummeting has been a trend among F&B retailers in Cambodia. “During the COVID-19 peak, delivery sales were about 60% of our total sales which was a big jump from being around 20% normally.” said an operator of several restaurants, who has chosen to stay anonymous.He shares the same observation that while delivery apps help sales figures they cannot replace store sales to be sustainable. “Delivery gives us the extra sales we need to make staying open worth it. With delivery apps, however, the spread is much smaller due to commissions and we don’t increase our prices by a lot on delivery apps; we try to keep it close to store prices.”The idea of going solely online has become more popular the longer the pandemic persists though the transition may not work for all businesses. “You can run a business completely through online delivery sales, if it were designed that way,” the operator said. “But many businesses have existed pre-pandemic and have physical stores with manpower to retain, rent to pay, etc., we’re all just trying to be as efficient as possible, aiming to break even and ensure that people have jobs”The limited revenue for this extended period of time has shifted the priorities of many F&B operators. Marketing campaigns, for example, have taken a less important role in day-to-day operations. “Marketing is not a top priority for us right now, but that largely depends on what kind of market you’re serving,” he said. “Right now, our market is apprehensive about going outside,” he shared. “So, we’re not exactly pushing anything new nor spending extra. What marketing we have currently is focused on maintaining a presence.” He elaborated that they are keeping up a consistent social media presence supported by traditional media.“Delivery apps themselves are a marketing tool of their own. And they do sometimes focus on our brands,” he said. “So, whenever a new player comes in, we just join because out of sight, out of mind, right?Article by:

Phnom Penh – March, 16th, 2021 – It’s not just a new year - 2021 seems to be a milestone in many ways, especially with vaccines being made available around the world and change sweeping across various economies and institutions. In Cambodia, the distribution of vaccines indicates a possible end to the pandemic that has been plaguing the economy since 2020 and with it, we expect an overall resurgence within the Real Estate markets.2021 marks a further inflection point for the property markets, which is set to witness further substantial growth in supply during the next 12 months. Over the longer term, CBRE Cambodia currently tracks 279 major projects under-construction in Phnom Penh alone. Whilst COVID-19 has slowed project starts, the existing construction pipeline presents a significant challenge to the real estate industry in resourcing the operations of these buildings.The real estate industry is changing to meet the altered dynamics and to cater to developer’s need to differentiate their project, and to create solutions for efficient operations and care of the project over the long term. With increased pressure on balance sheets and the need to professionalise services, developers and tenants are focusing on their core businesses and desire to be released from the burden of day-to-day operations of a building. Hence, the demand for property management and related outsource services is at an all-time high.The COVID-19 pandemic has brought even greater pressure for building operations, who are on the front-line of the pandemic. The pandemic means more cleaning, tighter security, regular sanitizing of the property, and increased control of visitors and administrative procedures, all whilst balancing the demand to tighten belts and control costs.These surges in demand create challenges for the sector, especially the limited supply of trained manpower and resources needed to run the property management operations professionally, consistently, and at a reasonable cost. Property Management teams are responding by increasing training and finding efficiencies in order to free up resources.As the supply of property continues to grow at pace, the complexity and aspirations of the projects are also growing. Developers are diversifying their projects through the use of new technologies and use mixes, which in turn require a different approach to achieve operational success. These changing demands are opening opportunities for professionals from different backgrounds including IT, hospitality, and accounting, and creating a deeper and more progressive industry that offers a superb scope of growth and development.This kind of growth spurt in Cambodia also brings possible opportunities for the development of a broader service industry, including mechanical and engineering, housekeeping, security, and pest control to but name a few.CBRE Cambodia’s Head of Property Management, Shivali Chaman, comments “We really see a rapid change in the requirements of property management. Developers and investors are increasingly aware of the impact that quality property management services can have on tenant retention and in maintaining their project’s P&L. Our research indicate that tenants think the human side of their building’s management is the most important reason they would choose to stay within a property.”Shivali says that property management is now more about ensuring that toilets are clean and the security guard is awake. “Of course, no property manager can forget the basics, but increasingly the services needed relate to operating complex building management systems and PropTech solutions or creating bespoke customer service processes that offer a hotel level experience. Ultimately, the goal is to help investors achieve optimal asset and portfolio management - turning scale into strength, expense into performance, and property into prosperity. Constant investment in developing human resource capacity is critical to ensuring that better service is provided to clients in The Kingdom.”About CBRE Group, Inc.CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, Texas is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction, and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

New COVID-19 patients being transferred to the Great Duke Hotel in Phnom Penh. Photo by KT/Chor Sokunthea.The COVID-19 cases in Cambodia continue to rise stemming from the February 20 Community Incident. As of writing, the country has recorded 819 cases associated with the recent community infection, bringing the total confirmed cases to over 1,300. This new round of infections is causing another market scare keeping most consumers indoors.While previous community incidents such as the November 28 incident and the diplomatic visit did cause disruptions, the recent February 20 community incident is, by far, the most extensive transmission event in the Kingdom’s struggle with COVID-19.Google’s Mobile Tracker suggests that the number of users staying at home - marked at 15% above baseline - since February 20 is comparable to the number of people staying at home over the weeks following the November 28 incident. The difference between the two, however, is the extent of transmission from each event.The November 28 incident was followed by mostly single-digit cases daily (adding 41 cases) until it was brought under control by authorities around a month after. On the other hand, the February 20 incident has consistently been followed by double-digit cases daily, causing confirmed causes to balloon from 484 to over 1,300 in a span of 4 weeks. As of posting, authorities are still conducting mass tracing of newly discovered cases.The incident is a reminder that any projection of recovery is dangerously susceptible to new mass transmissions and the difference in severity between the two is understandably causing the market to slow for a relatively much longer time. Realestate.com.kh, the leading real estate classifieds portal in Cambodia, reports that 77% of property buyers surveyed said online channels like Realestate.com.kh, Facebook, and Google have helped them the most in looking for properties during COVID-19.The information comes from the popular real estate website’s data collection for the annual Cambodia Real Estate Survey initially launched on February 19. Realestate.com.kh notes that the 2,000-respondent survey should give readers the general sentiment of Cambodian property seekers and may serve as a market gauge for property sellers and buyers alike.“Cambodia’s February 20 Community outbreak is unexpected to both property seekers and developers,” said Shengwei Zhao, COO of FazWaz Cambodia. “From my observation, most local buyers take this seriously as they canceled their scheduled showroom visits and face-to-face consultations. They put off their plans to invest in properties until the situation is under control”.Cambodia’s property developers have learned their lesson from previous incidents. Shengwei shares that “I think developers are more or less used to the situation already. As a response to the February 20 incident, some developers have temporarily closed their showroom, let their staff work from home for their safety, and accelerated their online marketing efforts”.This disruption, however, still presents an opportunity for the keenest buyers. “Some investors have been looking for under-market-price deals since last year. If they see a project that meets their expectation, they still choose to make that purchase. After all, the strategy is to "buy low and sell high" once the market bounces back” said Shengwei.Despite reservations from most developers and buyers to resume market activity, there is still a significant portion of property buyers looking for good deals on the market. Around 68% of respondents indicated that they think it is a better time to buy a property. Though when asked about the timeframe in which they would make their purchase, most respondents indicated they would be looking to buy between 6 to 12 months from now.Article by:

The tourism industry has shifted its attention towards the domestic market and will likely do so in the short-term within 2021. Supplied.The past half decade’s influx of international tourists has been the main source of growth for hotels and the highlight of the wider tourism industry in Cambodia. The outbreak of COVID-19, however, severed that lifeline and left the tourism industry in dire straits for much of 2020.Knight Frank’s recently released report, “Cambodia Real Estate Highlights H2 2020”, shows a struggling hotel sector but not one robbed of progress nor hope for recovery. The virtual standstill of international travel has put a greater emphasis on the role played by domestic tourists in keeping tourism going in Cambodia.Knight Frank’s report projects that hoteliers will continue to focus on domestic tourism over the short-term to offset the reduced number of international tourist arrivals - a demographic that has been cut by as much as 95% in the second half of 2020 compared to the same period in 2019. Knight Frank observed that operators have been focusing on attracting more domestic tourists by offering special packages for both short-term and long-term stays with heavily discounted rates of up to 60%.In an August 2020 article by the Khmer Times, hotel operators observed a 90% occupancy rate from reservations made for the upcoming Khmer New Year. The long holiday celebration usually observed in April of every year was postponed due to the height of COVID-19 fears at that time. Given the public events and gatherings associated with the holiday, the government moved the yearly holiday from April 2020 to August 2020.The interest from domestic tourists, both locals and foreign residents in Cambodia, was not a one-off event either. In a later October 2020 report by the Khmer Times, over 1.1 million tourists were recorded to have traveled around the Kingdom during the 3-day Pchum Ben festival in September 2020. The article explains that the reported tourist figure was made up of 99% Cambodians and less than 1% foreign nationals residing in the country.Hoteliers and government officials have been working together to mitigate the economic impact of COVID-19. Photo by K/T Khem Sovannara.The Cambodia Hotel Association recently launched a campaign to revive Siem Reap’s economy called #AngkorLikeNeverBefore. The campaign is a collective effort of hotel operators to reinvigorate the temple town by reintroducing its world-famous temples as an “ethereal experience” given the absence of large tourist crowds, allowing today’s visitors to have the temples for themselves.The national government has also stepped in to help the tourism industry, particularly in Siem Reap. Knight Frank reports that the government is working hand-in-hand with the National Bank of Cambodia in its launch of a series of monetary and fiscal policies to assist tourism stakeholders including tax exemptions and increased liquidity for affected businesses/hoteliers.Cambodia’s hotel sector outlook, however, remains bleak within the context of COVID-19 international travel. Knight Frank’s report projects international tourist arrivals will remain subdued with the 14-day quarantine period still imposing, placing continued pressure on occupancy rates, Average Daily Rate (ADR), and Revenue Per Available Room (RevPAR).Despite the continuing difficulties the sector faces, the source of relief the wider tourism industry needs are shared with the Cambodian property sector: Attracting and meeting the needs of the domestic market.Article by:

The city's property supply has now shifted to mid-tier properties in the most popular residential areas. Supplied.Phnom Penh’s property market attracted much attention over the last decade due to its fast-paced growth and high-end properties that appealed to many foreign investors. The impact of COVID-19 shifted the market’s focus away from foreign investors and diverted to the demands local market. This resulted in the already-growing popularity of mid-tier projects in both condominiums and boreys to see increased attention from developers.According to Knight Frank’s recently released Cambodia Real Estate Highlights H2 2020 report, mid-tier developments (priced between $1,000 to $2,500 per sqm) in condominiums and boreys account for more than half of the current market and will continue to make up most of the supply until 2023.Condominium supply in Phnom PenhThe Phnom Penh Galaxy Garden is a popular condominium project in Sen Sok district. Supplied.Knight Frank reports that as of H2 2020, there are a total of 24,101 units spread across 83 condominium projects in Phnom Penh. Despite the negative impact of COVID-19, Knight Frank expects an increase of 53,741 units in the next three years, bringing the cumulative supply to 77,572 units by 2023. The report projects that future supply will be 58% Mid-Tier and 42% High-End.In terms of location, Chamkarmon remains the most popular residential area of Phnom Penh with 32% of condominium stock found in the district. This is followed by Sen Sok at 13%, 7 Makara at 11%, Chroy Changva at 10%, Boeing Keng Kang at 8%, Mean Chey at 7%, and Toul Kork at 7%.The report notes that the outbreak of COVID-19 took a heavier toll on the condominium sector in the latter half of 2020. The continuing threat of the pandemic was not helped by the November 28 Community Event that forced authorities to close down certain businesses to mitigate further community transmissions.How much the pandemic has affected the larger economy has been a cause for concern in many project launches. According to Knight Frank, only a total of 5 new off-plan projects were launched in H2 2020, significantly less than the 15 new off-plan projects launched in H2 2019. The report summarizes that it would be an understatement to say that property developers are looking for better times to launch new projects.Despite tough circumstances, Knight Frank’s outlook for the condominium sector remains positive as the announcement of vaccines and their availability may reignite confidence in the market and allow developers to pick up returning activity.Borey supply in Phnom PenhLanded homes dominated property searches in Sen Sok over 2020. Supplied.According to Knight Frank, a total of 11 new completions were welcomed into the market which brought the existing borey housing supply to 63,913 units spread across 164 developments. Knight Frank’s report projects supply would increase to 81,240 units post 2022 across 219 developments.The report indicates that Mid-Tier developments dominate the market supply at 52% followed by Affordable developments at 37%. The High-End of the borey market takes up the least share at 11%.Given the landed nature of boreys, Knight Frank reports that the highest concentration of landed housing is in Sen Sok making up 23% of the total supply. This is followed by Dangkao at 17%, Russey Keo at 12%, Kamboul and Meanchey at 11% each, Chbar Ampov at 8%, Chroy Changvar 7%, and Por Senchey at 6%, and Prek Pnov and Chamkarmon at 2% each. The remaining 1% of supply is split between the more central districts of Daun Penh, 7 Makara, Toul Kork, and Boeung Keng Kang.Knight Frank’s report observed that the high economic growth Cambodia saw over the past few years has led to a larger disposable income for local property seekers. An increasing number of middle-class buyers are looking to purchase their own homes pushing developers to meet the newly identified demand. This was reflected in the relatively healthy activity in the borey market up until the first local transmission commonly referred to as the November 28 Community Event which saw sales activities drop significantly.Landed property will likely remain popular among Cambodians. Knight Frank’s outlook suggests that major housing developers remain confident in the market’s demand indicated by the continued launch and completions of new projects, all the while maintaining quality despite the economic turbulences throughout 2020.Article by:

Best rate makes BRED Bank a smarter choiceBRED Bank Cambodia is making positive progress in the Kingdom’s domestic property market thanks to its market-leading home loan rate of just 6.66%.The bank (part of the international banking group, BRED Banque Populaire) opened for business in the Kingdom in 2017 and has quickly established a strong branch network and comprehensive range of products. Its highly competitive home loans can be used to purchase borey homes and brand new apartments and condos as well as refinancing existing properties or investing in properties to rent.The competitive nature of BRED’s home loan packages led to a recent tie-up with popular real estate agencies to offer finance to new home buyers at the many up-market borey developments that are exclusively managed by the global real estate agent.Committed“We’re completely committed to helping Cambodian people to own their own homes,” says BRED Bank Chief Executive Officer, Mr. Guillaume Perdon. “Our branch and call centre staff are always available to discuss home loan options and to make quick decisions on applications so that people can secure their dream homes.”Consistently competitiveBRED Bank Cambodia has consistently offered the most competitive home loan rates in the Kingdom - just 6.66% for the first year. With tenor up to 20 years, no loan approval fee, and the ability to borrow up to 80% of the property’s value, it’s a great-value home loan from a highly-reputable international bank.International standardsAs you’d expect from a group with over 36 million customers worldwide, BRED Bank Cambodia operates to the highest international standards giving customers the reassurance and security they need in such an important and valuable transaction. Friendly and flexibleThe bank also has an excellent reputation for great service with locally-recruited Relationship Managers able to advise on the best package to suit individual needs and assist throughout the buying process. BRED Bank can be contacted by calling free on 1800 20 1234 or online at bredpersonalbanking.com/home-loans

The Cambodia Real Estate Survey 2021 is part of Realestate.com.kh’s efforts to give industry stakeholders a good grasp of the Kingdom’s property market. Supplied.Realestate.com.kh, the largest real estate classifieds portal in Cambodia, recently launched its annual Real Estate Survey for 2021. The popular real estate website launches this annual survey to help the country’s real estate industry grow, improve standards and provide valuable insight and data for all real estate stakeholders - for free!Realestate.com.kh is launching the survey at a time when the country’s real estate sector is coming out of a tough economic year. For the past decade, Cambodia’s construction and property sector was growing at a rate that attracted significant attention from foreign investors with no signs of slowing, until the outbreak of COVID-19 in 2020. Given the importance of surveying the market at this crucial time, Realestate.com.kh is giving online survey participants a chance to win a premium staycation. Participants who complete the survey will be given the best chance to win a FREE 2-night staycation (spa services included) at the Baitong Hotel in BKK1.Simply scan the QR code, complete the survey for the best chance of winning, and help the wider Cambodian real estate industry at the same time!Link to survey:Cambodia Real Estate Survey 2021QR CODE:

Chamkarmon and Boeung Keng Kang were the most popular districts for property searches in 2020. Supplied.Phnom Penh’s property boom has been a visible phenomenon for the past decade. The growth of the local middle-class and the surge of foreign property investors became a major driving force for developers to build bigger and better properties. The outbreak of COVID-19, however, drastically changed the market and shifted it into a local buyer-focused environment.Realestate.com.kh, the largest real estate classified portal in Cambodia, reports that apartment/condominiums were 43% of its total property searches made over 2020. This is followed by landed houses at 36%, land properties at 13%, and commercial properties at 7%. The popular real estate website previously reported it received over 2 million visitors over the course of 2020.Daun PenhDaun Penh is home to many of Phnom Penh’s premium real estate properties. Supplied.Property searches in Daun Penh are broken down to 68% condominiums, 17% landed houses, 12% commercial properties, and 2% land properties.Daun Penh serves as Phnom Penh’s de facto central business district. The area is arguably the most developed district in the capital as it is where important government buildings, iconic monuments, and high-end residential & commercial buildings are located. Daun Penh is also the hub of major roads that span across Phnom Penh.Given Daun Penh’s location and function, most of the district is already developed hence its low land property search volume; it is the district with one of the highest price per square metre in both residential and commercial properties. Landed houses (mostly flat houses) are still plenty in Daun Penh though they may cost as much as a modern-style apartment in another part of the city.ChamkarmonChamkarmon’s charm stems from the modern projects in the area sitting side-by-side with mom-and-pop shops. Supplied.Property searches in Chamkarmon are broken down to 65% condominiums, 19% landed houses, 8% land properties, and 8% commercial properties.This data of Chamkarmon includes property searches in the Boeung Keng Kang (BKK) district. The Chamkarmon district (including BKK) is the south/southeastern district bordering Daun Penh. It’s home to a significant number of landed houses as well as new developments that sprung up in the wake of Phnom Penh’s property boom.Condominium/serviced apartments can be found throughout Chamkarmon, especially in the BKK areas. These properties are well-known among locals and expatriates alike due to the surrounding urban conveniences as well as modern amenities located within these residences. Many of these projects adjusted their prices and promotions over the past year to fit the preferences of Cambodian property hunters and investors.Landed properties, such as shophouses, still cover a significant portion of Chamkarmon’s property portfolio and are considerably popular among Cambodians. The district is home to many small-to-medium enterprises that help maintain its status as a consumer hub for many Phnom Penh residents despite the looming threat of COVID-19.Toul KorkToul Kork is strategically located between the city’s most developed and fast-developing districts. Supplied.Property searches in Toul Kork are broken down to 44% condominiums, 36% landed houses, 10% land properties, and 9% commercial properties.Toul Kork is arguably the second most popular residential area in Phnom Penh after Chamkarmon. The area has seen a huge amount of development in the recent decade and has attracted a mix of businesses, commercial, residential tenants, and home-owners. The area is well known for a large number of villas and an increasingly growing number of purpose-built shopping centres.Toul Kork has a closer gap between the condominium and landed house searches as the district’s stock of flat houses, shophouses, and villas remain a popular choice for local buyers. Both condominium and landed house properties, however, mainly benefit from Toul Kork’s state of urban development, its position being close to the CBD, and having a convenient road network to other developing areas in Phnom Penh.Sen SokSen Sok properties are popular due to their modern design and quality without the high asking price from other parts of the city. Supplied.Property searches in Sen Sok are broken down to 45% landed houses, 29% condominiums, 18% land properties, and 7% commercial properties.Sen Sok is one of the city’s latest property development frontiers. Just like neighbouring Toul Kork, many residents are looking to Sen Sok to find more affordable land and property. The area was mostly residential and industrial until recently when there have been high-profile commercial projects that have kicked activity into high gear, chief examples being the AEON Mall Sen Sok and Makro Cambodia.Landed houses are the most popular in Sen Sok given the number of shophouses, flat houses, villas, and the amount of land still being developed in the district. There are more landed homes in Sen Sok, including villas, that are offered below 1 million USD compared to shophouses and villas in Daun Penh with asking prices easily reaching a few million. Similarly, Sen Sok’s property boom has opened its doors to condominium developers building affordable and mid-range properties, further adding to the district’s already attractive property portfolio in the coming years. Article by:

Own and rent Phnom Penh’s most luxurious apartment, Sky Villa!High-end residential in central Phnom Penh. 281-509㎡ hardcover apartment. Leasing options coming soon![Property] Sky Villa 2-bedroom, 3-bedroom fully furnished apartment[Area] 281-509 ㎡ [Rent] The average price of 2 bedrooms is $2600/month, and the average price of 3 bedrooms is $3500/monthAmenities and services included: Internet, TV, property fees, parking space, cleaning twice a week, swimming pool, and gym.【TYPE A1 (417㎡)】3-bedroom, 3-bathroom large apartment in Phnom Penh【Living room】 1【Restaurant】 1【Kitchen】 1【Storage Room】 2【Maid Room】 1【Dressing Room】 1[Balcony] 4 (Extra large L-shaped viewing balcony 2, master bedroom private balcony 1, working balcony 1)As the only large flat-floor apartment in the capital, Sky Villa households have their own large viewing balconies. The living room, dining room, bedroom, bathroom and kitchen are all transparent and spacious. The entire apartment type automatically captures natural light sources from tropical countries and doubles the sense of comfort throughout the residence.The separation of storage room, maid room, and work balcony not only preserves the private space of the owner's family but also provides an exclusive area for daily cleaning and other maintenance work, independent of each other without disturbance.Sky Villa has not forgotten its original intention and designed to fit the product concept. The whole house is decorated with high-end materials and equipped with branded appliances, allowing tenants to truly live in bags.Even if you are in a foreign country, you don’t have to worry about language problems. A well-trained property steward will arrange every detail properly, and take care of your surroundings to the greatest extent, and live more at ease.The whole house is well-furnished with branded appliances, the bedrooms all have their own bathrooms, and plenty of private spaceThe living room and dining room are interconnected to create a large-scale public activity space. The whole unit is utilizing a fresh A/C system to bring fresh air to into the family home. Surrounded by a large viewing balcony, a 360° view is within easy reach.The private bathroom is separated from wet and dry, and the high-strength glass wall is embellished to ensure natural lighting, dry and bright. There are lockers under the wash table to enhance daily storageThe kitchen is divided separately to isolate oily smoke, and the double row consoles increase the range of activities, which can be used for family daily use and gatherings of relatives and friends. The end of the linear line uses glass windows to introduce light sources, and the whole is spacious and bright.【TYPE A2 (423㎡)】3-bedroom, 3-bathroom large apartment in Phnom Penh【Living room】 1【Restaurant】 1【Kitchen】 1【Storage Room】 1【Maid Room】 1【Dressing Room】 1[Balcony] 4 (Extra large L-shaped viewing balcony 2, master bedroom private balcony 1, working balcony 1)【TYPE A3 (391㎡)】[Bedroom] 3, all with bathroom【Living room】 1【Restaurant】 1【Kitchen】 1【Storage Room】 1【Maid Room】 1【Dressing Room】 1【Study Room】 1[Balcony] 4 (Living room oversized viewing balcony 1, master bedroom private balcony 1, working balcony 1, study balcony 1)Top-notch packages exclusively for the high-classSky Villa is a sky garden-style mansion with two 35-story twin towers with a total height of nearly 140 meters. It is an emerging urban landmark in Phnom Penh.Sky Villa has an excellent location, bright space, precious materials, exquisite craftsmanship, and unique design, capturing the essence of modern life. It is not only a top-notch mansion standing in the center of the capital but also a quiet life like being in the countryside. The ingenious combination of the two is the ultimate experience of an ideal home.In the interior design of the entire building, Sky Villa has a magnificent welcome hall, the atrium sky is 10 meters high, and full natural lighting. The classic butterfly spiral staircase of European aristocracy can move to the mezzanine banquet hall. It is specially customized for high-standard banquets and private parties, with absolute luxury and privacy.The 34-story sky courtyard and sky runway are part of the overall design of Sky Villa, creating an alluring environment for harmonious urban life.The ingenious landscape design is made up of the infinity swimming pool, gymnasium, hydrotherapy massage room, children's water and land play area, and outdoor small dining bar. The three-pronged approach of sports, leisure, and 360-degree viewing is designed to be set against the skyline, allowing for an escape from the suffocation of urban space, and ultimately satisfy the most luxurious whim of residents The Sky Villa Club on the top floor also has a wine cellar, a recreation room, which can be used as a private room, and a reading area. Next to the club is a restaurant that can make delicious and delicacies.An important reason for the popularity of large apartment flats is the choice of location, which eliminates the tedious daily commute and directly improving your everyday living experience.In addition to its exclusivity, the value of Sky Villa also has unparalleled location advantages. It occupies the central axis of Phnom Penh City, specifically, the southern part of the Olympic Stadium in Makara District. It is located in the "egg yolk area" with a superior urban location.The project is adjacent to Preah Sihanouk Avenue and Polish Republic Avenue, and has a smooth transportation network around it. The supporting facilities are sufficiently well-developed and Sky Villa is only a few minutes away from the BKK consumer hot zone. The first-class political and commercial supporting facilities such as government agencies, embassies of various countries, and international financial banks.Within the 3KM radiation range, are the Olympia Mall, AEON 1 Mall, Chip Mong Mall, Russian Market, and the famous Central Market.Living in the city, in addition to the bustling shopping malls, sports centers, etc., there are many famous schools around Sky Villa, allowing children to have more choices in the future.Sky Villa offers the most premium living experience across the Kingdom. It grants the full experience of luxury living, all for a more affordable price than ever before! Interested in living the best life possible for you? Contact us today!

Quayside 313 is a relatively new and popular retail center in the Riverside area of Phnom Penh. Photo from The Mall Company.The year 2020 was an economically tough year for a majority of retailers in the Kingdom. According to The Mall Company (TMC), a commercial real estate and retail specialist in Cambodia, Food & Beverage stores accounted for 58% of Phnom Penh retail space vacancies recorded by Q4 2020. The F&B category is followed by fashion retailers second at 21% and health & beauty stores third at 9% over the same period.Food and beverage stalls, especially in retail malls, largely rely on foot traffic for revenue. The lack of shoppers visiting Phnom Penh malls for most of 2020 negatively affected sales volumes causing a number of F&B retailers to suspend operations.With no new retail project deliveries in Q4 2020, a total of 370,781 sqm of retail space was logged at the end of 2020. According to TMC, the looming COVID-19 threat created a poor retail environment where store sales saw record-low levels for much of 2020. TMC further explains this resulted in a total of 16,247 sqm of retail space vacancy in 2020, an 85% increase from the 8,760 sqm of retail space vacancy recorded in 2019.The retail spaces in Chamkarmon made up 4,825 sqm or 30% of total retail vacancies in 2020. The district is followed by Meanchey at 16%, 7 Makara at 14%, and Toul Kork at 12%. When it comes to retail formats, Community Malls saw the most vacancies in Phnom Penh measured at 9,565 sqm or 59% of the total retail space vacancy in 2020. Retail spaces in Shopping Malls fared comparatively better having only seen 3,091 sqm of its retail spaces vacated in 2020.“Retail stores in shopping malls like AEON have strong and well-financed brands, operators, and franchises; Community Malls generally speaking, less so,” said Simon Griffiths, Managing Director of The Mall Company.Despite an 85% increase in vacancies, TMC’s report explains that this could be an opportunity for well-capitalized retailers to secure prime locations that were previously unavailable or prime locations in new projects and attempt to negotiate favorable rents at lower rates than pre-COVID-19 levels.Article by:

Phillip Bank and BRED Bank have partnered with Realestate.com.kh to make it easy for property seekers to calculate home loans right as they browse listings. Supplied.Realestate.com.kh, the largest real estate classifieds portal in Cambodia, has launched a suite of tools for property seekers, with a user-friendly and transparent way to navigate around home loans. Property seekers that are searching for their new home will now be able to use a Home Loan Calculator that can be found on every property listed for sale on the website and apply for a loan directly from the calculator on Realestate.com.kh.  Separately, property seekers can also visit Homeloan.com.kh and step through a series of qualifying questions that helps match a property seeker to the right bank that fits their requirements. The leading real estate website has partnered with Phillip Bank and BRED Bank to launch the home loan tools on the platform.Phillip Bank is part of PhillipCapital, a Singapore-based financial group founded in 1975. The bank was established in Cambodia back in 2009 and has since made its financial products available to Cambodians throughout its 89 branches (as of 2020) in the country.BRED Bank officially opened its services in Cambodia in 2017. It is owned and operated by the BRED Banque Populaire, France’s 2nd biggest banking conglomerate. BRED Bank has been proactive in expanding its reach across Cambodia and even more so in its interest in the local property market.The CEO of Realestate.com.kh, Tom O’Sullivan said “This is a natural step for Realestate.com.kh, as more often than not when someone is looking to buy a property, they often require a home loan. Furthermore, there are over 40 banks in Cambodia so it can be hard for a property seeker to navigate the home loan landscape and work out which are the most trusted banks, and most importantly what bank offers the right product that suits that particular person. We have launched these two products and will continue to build out our home loan services and tools in 2021” Cambodia’s property market has been expanding for the past decade. But no single platform has offered a means for Cambodian property seekers an easy way to find home loans and calculate potential mortgage repayments. Realestate.com.kh has implemented its Home Loan Calculator for every property for sale and becomes the first digital platform in the country that allows property users to calculate home loan plans right as they browse listings.The Home Loan Calculator includes easy-to-use value sliders that let buyers adjust the different factors that determine financing schemes, namely: Property Price, Deposit Amount, Interest Rate, and Loan Terms denominated in years."A home loan from BRED Bank Cambodia means our customers not only enjoy the excitement of moving to a wonderful new place to live, but they also benefit from Cambodia’s most affordable home loan rates and the excellent standards in customer service provided by our team at BRED Bank Cambodia," said Guillaume Perdon, CEO of BRED Bank Cambodia.“The current property market remains competitive and it follows that we offer a similar way for buyers to purchase property easily,” said Phillip Bank Cambodia. “Our 90% home loan program is the first step in achieving our goal of helping Cambodian property seekers buy their dream home this year”

The National Stadium is one of the most key examples of New Khmer Architecture in Phnom Penh. Photo by Pen Sereypagna.Cambodia’s property boom has drastically transformed the facades of Phnom Penh, Siem Reap, and Sihanoukville over the past decade. Some buildings of old are renovated and given a new lease on life, while some are outright torn down to make space for the new. As the popular saying goes, “Out with the old, in with the new”.But things are not so easily put into simple terms in the Kingdom of Wonder.While western influences are certainly permeating the design philosophy of new projects, there is a parallel movement that draws inspiration from the long and abundant history of Cambodian aesthetics, namely, the New Khmer architecture.Heavy use of reinforced concrete characterized the Olympic National Sports Complex. Photo by Pen Sereypagna.The New Khmer architecture is a design philosophy coined by Helen Grant Ross and Darryl Leon Collins in their book “Building Cambodia: the New Khmer Architecture” published back in 2002. The movement is described as merging modernist principles founded in the West with traditional Khmer designs dating all the way back to Angkorian architecture (i.e. the Angkor Wat temple).The Angkor Wat Temples stand as a monument to the rich heritage of Khmer architecture. Photo by Sharon Ang.The beginnings of New Khmer architectureWhile it was not officially called the New Khmer Architecture, the movement saw its beginnings in the 1950s after Cambodia’s independence from France and lasting up until the 1970s before the beginning of the civil war.It was under the patronage and vision of the late King Norodom Sihanouk that it started weaving itself in Cambodia’s urban development in the 1950s. Many Cambodian intellectuals, especially those who studied abroad, came to lend their experience and knowledge of Khmer heritage to help build a modern Cambodia. Architects, in particular, became key persons in realizing the King’s vision.And this is where Vann Molyvann, the man who would define Cambodia’s urban facade for the next half-century, comes into the picture. Vann Molyvann standing in the National Stadium. Photo by the Khmer Times.Vann Molyvann is a pillar in the Kingdom’s architectural history. He rose to prominence in the 1950s and 1960s as the nation’s State Architect under the direction of the King. Vann designed many of the iconic structures in Cambodia, including The National Sports Complex, Chaktomuk Conference Hall, and the Independence Monument, among many others, earning him the title of Cambodia’s most prominent architect.Vann Molyvann described his home as a chance to play with new design ideas. Supplied.New Khmer architecture todayAccording to the Vann Molyvann Project, an organization documenting and studying the works of Vann Molyvann and other modernist architecture, the New Khmer Architecture can be characterized as:Chiefly using reinforced concreteVisual and structural references to pre-existing Cambodian construction techniquesCreative use of natural airflow and shading in line with Cambodia’s tropical climateSparing use of ornamentation, chiefly inspired by Angkorian temple decorationsNew Khmer Architecture, according to the Vann Molyvann Project, is underpinned by these characteristics while engaging international modernisms; an adaptation of the prevailing international style of modernism into the local vernacular.Today, the New Khmer Architecture is once again showing itself in Cambodia’s booming construction and property sector. The Room Design Studio, an architectural and interior design firm, is one of the studios bringing Cambodian designs to the forefront of a modernizing country.The Toul Kork Office is a new project by the Room Design Studio. Supplied.“Our human-centered spaces weave the needs of a rapidly-evolving nation and its cultural heritage with a forward-thinking philosophy” is how The Room Design Studio described its operating philosophy behind every project.“At The Room Design Studio, we see each architecture project as a possibility to construct environments that fulfill human needs. Our architects remain committed to and inspired by Cambodian tradition and its wealth of natural resources”The Parliamentary Institute of Cambodia designed by the Room Design Studio. Supplied.Breathing space is a core character of New Khmer Architecture. The One Resort by the Room Design Studio. Supplied.Examples of this new Khmer house architecture are The Skyline Apartments, Parliamentary Institute of Cambodia, and the One Resort which all draw from western influences of using glass and steel while using reinforced concrete to create wide and open spaces, a pillar of Khmer design heavily influenced by the country’s tropical climate.Render of the Landmark 178 by the Room Design Studio. Supplied.This resurgence of Khmer house architecture isn’t exclusive to residential and vacation projects. The Landmark 178 is another example of New Khmer Architecture taking form in Phnom Penh’s expanding office market space.“We took inspiration from the New Khmer Architecture style from the 60s to create a friendly and attractive working environment from the exterior to the interior,” describes the Room Design Studio’s approach when it came to conceptualizing the project.Interiors are an equally important pillar of the local vernacular. Aside from wide-and-open spaces, the sparing use of ornamentation is noticeable in projects inspired by New Khmer Architecture.The Toul Kork Office by the Room Design Studio. Supplied.The Toul Kork Office is a newly constructed rental office building designed as a contemporary landmark in the up-and-coming district. Interestingly, this project has a noticeable lack of pillars in the inside workspace. The Room Design Studio made it so owners have the flexibility to decide their office arrangements without added restrictions.On the outside, the red staircase on the side of the Toul Kork Office serves as a visual marker but, as it stands on the outside of the building, also clears up room for a greater amount of interior rentable space. As with interiors being equally important as exteriors, any Khmer-inspired building today endeavors to deliver in both form and function.“Its red staircase serves as a visual marker but, as it stands on the outside of the building, also clears up room for a greater amount of interior rentable space”The resurgence of the New Khmer Architecture in a modernizing Cambodia certainly gives its cityscapes and identity amid the flurry of new projects announced and completed every year. And with the presence of designers like the Room Design Studio, the Kingdom can rest easy that its traditions will see the dawn of a truly modern Cambodia.Article by:

On 6th and 7th February, Le Condé BKK1 is very privileged to be the first real estate company to host a property exhibition in AEON I, one of the most popular shopping malls in Phnom Penh.Le Condé BKK1 is a popular project in Phnom Penh with outstanding sales records amidst a tough economic environment due to COVID-19. Its sales record has shown that it is a project that well received by the market.The property expo proudly presents that Le Condé BKK1 is built to fulfill the local customer’s satisfaction and needs; 84% of Le Condé owners are local Cambodians.All these achieved results indicate the developer’s thoughtful consideration of the actual needs of the local market for future development in residential property.Situated in the highly popular location of “BKK1 district” the heart of Phnom Penh Capital – well known as a highly urban residential area in the capital, surrounded by the 4 main boulevards, 29 embassies, 50+ NGOs, and 36 international banks. It's equally known as the culinary hub with all big café brands, various restaurants, boutiques, and fashion stores at all levels. International franchise and luxury brands also dot the areaBKK1.To build this new landmark in the heart of the capital, Le Conde's developers carefully studied the housing trends of Phnom Penh residents with countless discussions and studies.Le Condé BKK1 offers priceless value for a comfortable and luxurious lifestyle.With great location – BKK1The first smart community in CambodiaRevolutionary amenities:Boutique reading spaceSky jogging trackChildren’s Play Paradise (800sqm)Immersive Sky Garden (1000sqm) Rooftop Sky Bar and Infinity PoolProperty Management – Japanese Standard – HOPETREEMulti-Awarded Project by PropertyGuruIn Sep 2020, Le Condé BKK1 was nominated in all Best Serviced Apartment category awards by PropertyGuru Cambodia Property Awards:Winner: The Best Serviced Apartment Interior DesignHighly Commended: Best Serviced Apartment DevelopmentHighly Commended: Best Serviced Apartment Architectural DesignSince entering Cambodia market, Le Condé BKK1 has been admired by many people, agents locally and internationally, especially our project is accepted well recognition from royal families of Cambodia and we are very honored to have HRH Princess Norodom Soriya to be our Royal Brand Ambassador.