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Mortgage Availability Helps First-timers Buy Homes
According to figures from Cambodia’s lenders and leading real estate industry insiders, more and more young and first time buyers people are purchasing homes thanks to the greater availability of financing options such as mortgages. As bank loans continue to play a growing role in helping Cambodians purchase their own homes, ACLEDA Bank has reported an increase of about a third in the value of ...
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Mass Transport Systems? The Future for Phnom Penh?
Phnom Penh is growing, but is the transport system that keeps the city moving, much like blood through the arteries and veins of a body, keeping up with the pace? If a city ceases to be able to move people and goods from point A to B, it no longer performs one of its major functions. Jakarta has experienced rapid growth without proper investment in transport infrastructure, inhibiting movement ...
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Iconic Lifestyle Quarter for Kuala Lumpur
A US$1.4bn, 17-acre “Lifestyle Quarter” is to be developed in a new financial district in the Malaysian capital Kuala Lumpur, called Tun Razak Exchange (TRX). A retail-led mixed-use development, the Lifestyle Quarter will see Lend Lease own 60% in partnership with Malaysian state-owned real estate company, 1MDB. Lend Lease previously worked on Malaysian projects which included the Petronas Twin...
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Bonna Realty to Expand Overseas
While most local real estate firms are strengthening bases in the local market against incoming foreign firms pre-regional integration, Bonna Realty Group will start expanding to overseas markets. Since 2011, Bonna Realty has been reforming its structure from a family business-based local firm to an international-standard one with the aim to reach international markets, said Sung Bonna, the com...
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Orkide Villa Launches Another Luxury Housing Project
After the huge success of its first project, Orkide Villa has launched another project called Orkide Villa - The Royal with a continued focus on prime, central, residential locations. Located on a 36 hectare site on St. 2004, Tuek Thla Village, Sangkat Tuek Thla, Khan Sen Sok, Phnom Penh, near Northbridge International School. The site was inaugurated with a groundbreaking ceremony on 11 Januar...
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Oxley Worldbridge to Embed Brand in Cambodia
Following the success of its first 45-story mixed development project-The Bridge, Oxley Worldbridge (Cambodia) Co., Ltd has declared a long term vision to embed its company brand in Cambodia’s burgeoning real estate market. Oxley Worldbridge, a strategic partnership between Singapore-based Oxley Holdings International and Cambodian-based Worldbridge land will soon announce its second project th...
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5-Star Japanese Hotel to Be Tallest Building in Phnom Penh
Teho International Inc Ltd (TEHO), a diversified group with interests in the marine, offshore oil & gas, and property industries, announced on 7 February that TEHO Development Cambodia Pte. Ltd. has entered into an agreement with Hotel Okura Co., Ltd. to open a 5-star luxury hotel, The Okura Prestige Phnom Penh, in Cambodia. The hotel is a part of the US$500 million project called “The Bay”...
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Bouygues Bags Yangon’s Star City
France’s Bouygues Construction has won a second major residential scheme in Myanmar to design and build the next phase of Star City, a large residential complex in the suburbs of Yangon, the country’s capital. The contract, worth a total of US$125m covers the design and construction of six residential buildings with a total of 956 apartments. Four towers will be 82m tall (25 storeys), and the o...
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Rethinking the Real Estate Paradigm
The real estate industry is booming, not only in Cambodia but across most of Asia. But according to Alexander Evengroen, General Manager of Khmer Real Estate Co., Ltd and Chief Adviser to the Cambodian Valuers and Estate Agents Association (CVEA), Board of Directors and the ASEAN Valuers Association (AVA), the biggest problem facing the industry is too much talk and too little action which requ...
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Where Will We Go in 2016?
In 2016, we expect to see a steady housing market that will grow along with the economy. I predict a healthy growth in both real estate sales and prices, similar to what we saw in 2015, although at a slightly slower pace. 2016 should be much more predictable and stable than past years. We know that many people are looking at the future and what will happen to the economy in Cambodia. Having sai...
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