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Global Brief
Overseas investors have for the first time overtaken UK institutions to become the largest owners of UK commercial property, new data shows. The value of portfolios held by overseas owners has more than doubled, up by 129%, over the last decade to £94 billion, according to the Property Industry Alliance. The increase means that overseas investors now own almost a quarter, 24%, of all commerc...
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Being Professional
If you ask moto-taxi drivers or even people living in remote areas of Cambodia, they can tell you about some properties for sale or rent in their neighborhoods. But when it comes to standard real estate services, these “citizen brokers” cannot compare with professional agents who have graduated with real estate education. Cheng Kheng, President of Cambodia Valuers and Estate Agents Association ...
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Profile: Andrew J. Ahn ? Group Vice President Nuri D+C
Andrew J. Ahn, Group Vice President of NURI D&C Phnom Penh Cambodia, heads one of the most well-established and successful real estate development companies currently operating in the Kingdom. A Korean national, who graduated in Accounting and Finance at bachelor and masters level from Northwestern University and the University of Austin, Texas in the USA, Andrew is also a Senior Partner an...
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Asian Brief
MARINA ONE CAUTIOUS IN SELLING UNITS M+S Pte Ltd, the developer behind the mega mixed-use project Marina One, took a cautious approach with the launch of residential units in the development by only releasing 150 to 200 of the 521 units in the first block at the official launch on October 11. Kemmy Tan CEO of M+S told Singapore’s Business Times that the release of the 521 units in the second...
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Ing City to Finish Around 2020
Under the 2014-2020 master plan, the ING City, previously known as AZ City, which is being built south of Phnom Penh, will be another massive satellite city once it is completed sometimes around 2020. Built on 2,572 hectares of land (including a 520 hectare water reservoir) reclaimed from the Boeung Tompun wetlands, the project is being developed in four stages by ING Holdings. The first stage,...
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Phnom Penh Powers On In H1 2014 Land Index
The first half of 2014 saw Knight Frank’s Prime Asia Development Land Index advance 4.9% and 2.9% for office and residential sites respectively. This represents a loss in momentum when compared to the 9.8% and 7.7% respective growth rates in H1 2013. While land transaction volumes in Asia dropped 5.0% year-on-year in H1 2014, investment inflow from outside Asia saw a fourfold increase from the ...
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White Building To Be Demolished?
The White Building, one of the most famous buildings in Phnom Penh has been the subject of recent controversy over whether or not it has been slated for demolition. The story gained extensive media coverage following an announcement by Phnom Penh Governor H.E. Pa Socheatavong in early September. According to the Municipality of Phnom Penh in a press conference at the time, inspectors from the m...
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Knight Frank Asia-pacific Prime Office Rental Index
LITTLE RENT MOVEMENT ON SHOW IN ASIA-PACIFIC PRIME OFFICE MARKET Knight Frank’s Asia-Pacific Prime Office Rental Index declined 0.7% in the second quarter of 2014, despite a 0.3% drop in the regional vacancy rate Eight of the prime office markets tracked saw prime rents soften in Q2 2014, with eight equally seeing rental growth; four markets recorded no rental movement. Half of the market...
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Casa Meridian Partners With Century 21 to Boost Sales
To boost sales for its remaining units, the Casa Meridian condominium has strategically partnered with Century 21, the world’s largest real estate broker. Through an endorsement agreement signed on 8 October, 2014, Century 21 Cambodia has endorsed Casa Meridian and now leads the sales of units in the capital’s newest skyscraper. The deal gives Casa Meridian access to Century 21’s 7,000 affiliat...
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Leed Founders Win Un Award
The United Nations has highlighted the importance of energy efficient buildings in reducing carbon emissions by presenting its top environmental award to the US Green Building Council (USGBC). The Champions of the Earth award was won by USGBC for its role in founding the globally recognised LEED green building rating system. USGBC said in a statement that LEED certifies 1.7 million square fe...
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