EuroCham RECC Supporting Standards

• 27 August 2016
• Property Focus
• 1352 Views

Since its inception in Cambodia in 2011, the European Chamber of Commerce (EuroCham Cambodia) has been investing significant effort toward assisting the development of the real estate and construction industries in Cambodia and bringing benefits to companies and bodies.

The recently-released EuroCham “White Book 2016” contains practical, research-based recommendations which, if implemented, would help guarantee the health and stability of Cambodia’s real estate and construction markets.

The White Book not only provides a comprehensive blueprint of advice for effective management of the industries but can also help establish the most reliable standards in the global industry to build trust among European real estate and construction investors.

Since the rapidly developing and dynamic industry accounted for around USD3 billion of investment growth to Cambodia in 2015, EuroCham has urged for making the industry more efficient.

The Real Estate Construction Committee (RECC) of EuroCham Cambodia has been working hard to achieve its aim of bringing the respective Cambodian and European real estate and construction communities together.

RECC has opened the way for discussions, information sharing and problem solving on industry matters among experts and potential investors. The committee has also been constructively engaging with the government of Cambodia to promote higher standards of engineering, and construction to attract European investors.

RECC Vice-Chair and Head of the Real Estate and Development section, Alexander Evengroen has been contributing his efforts to raising the profile of Cambodia in the EU real estate and construction community. He also advocates with the Cambodian government in respect of EU investment opportunities and promoting the adoption of higher standards for engineering, construction, building, and safety inspired by European best practices.

Meanwhile, the Eurocham RECC provides services not only for real estate and construction but also for relevant economic, legal and technical issues for both members and non-members. It also develops position papers for the EuroCham White Book and other activities.

To achieve its goals, the RECC can’t work alone. Contributions from its members are also crucial to smoothly moving toward success. Key Real Estate, a member of EuroCham and one of the kingdom’s leading property agencies has been actively involved in one of RECC’s most important activities.

Alexander Evengroen, who is also the Chief Executive Officer of Key Real Estate, explained how the company’s knowledge of the local market, following international practices and counting the Executive Vice President and the Chief Advisor of the Cambodian Valuers and Estate Agents Association (CVEA) among its management team have helped its ability to contribute to the industry’s prosperity.

“The core fundamental elements to strengthen and achieve the objectives of the Eurocham Cambodia RECC are the collaboration of relevant parties together with the commitment of the Chair and Vice-Chairs of the committee,” he said.

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