EuroCham hosts breakfast talk on investment opportunities in the real estate sector

• 20 March 2020
• Local News
• 1600 Views

EuroCham hosted a breakfast talk on Investment Opportunities in the Non-residential Real Estate Sector, including the impact of COVID-19 and EBA removal on the sector on 12 March 2020 at Topaz Restaurant, Phnom Penh.

A wide range of key potential areas of the Non-residential Real Estate Sector was discussed during the event including construction safety, the medical-industrial sector, entertainment, office space, retail and shopping malls, logistics and the marketability of parking space in Cambodian cities.

Among the above sectors, construction, entertainment industries, office space renting and logistics have high potential despite some key challenges remaining on the ground and the withdrawal of EBA imposed on the Cambodian government.

With regards to the construction sector, despite the EBA removal, the sector will still have managed to remain growing at a certain level because investors have been already stable in the country’s economy. This is due to the new industry coming into the market including emerging local manufacturing and the ability to localize foreign industries and collaborate with neighboring countries, according to James Hodge, one of the most knowledgeable real estate experts in Cambodia and a keynote speaker in the event.

With the uncertainty of the impact of COVID-19 as its contagion is still unpredictable, the talk tended to focus more on the internal challenges of Cambodian real estate development by touching on the lack of internal infrastructure development and the current status of legal frameworks on the construction law and health sector related to construction work.

Dr. Simon mentioned in the panel discussion that “Construction laws actually help improve health issues related to the building. Now it has something to be based on. The construction law streamlines everything.”
Responding to these internal issues; physical, digital, and legal infrastructures are key to address these challenges and to ensure sustainable growth of the sector, according to the panel discussion.

“Facing issues in terms of infrastructure, laws, and ports; in order to accommodate. We need to improve them in order to facilitate Cambodia’s logistics,” said Mr. Hodge. “For infrastructure, we need money to build and improve more roads to alleviate the traffic.”

The presentation was followed by an interactive panel discussion with real estate investors, real estate developers, real estate agents/valuators, and a legal consultant of 65 participants. Though it is the first-ever arranged event, it is seen as a kick-off workshop that will provide a platform for all relevant stakeholders in the residential and non-residential real estate sector to share their views and expand their networks.EuroCham optimistically shows the intention to continue hosting such events in the future.

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