Major Chinese real estate companies are racing to build bigger ones in Cambodia

Cambodia has great potential for construction and real estate, attracting many domestic and international investments to attract large investment projects. Meanwhile, big Chinese investment companies are rushing to invest in construction of condominiums,  malls and other construction projects.

Obviously for Phnom Penh, the last five years have grown stronger in the real estate sector, especially in high-rise buildings, including condominiums, apartments, and big commercial buildings. Millions of large-scale buildings are continuing to be built along the main thoroughfares of Phnom Penh, especially Chamkarmon, Sangkat Tonle Bassac, Chroy Changvar, 60-meter-high, China's newest projects.

Keynes Real Estate CEO said, "After the 2008 real estate crisis, the sector recovered in 2012. And it is getting bigger in 2015 and early 2016, when Cambodia is ready to join the ASEAN Economic Community, and the Cambodian market will play just 14 million, 600 million, so entrepreneurs will invest more. "

Phnom Penh's major projects are designed to meet diverse needs in the future because of large meetings, apartment blocks, offices for foreigners and the needs of local businesses. And if the economy and the political situation are still good, the real estate sector continues to grow.

Cambodia has great potential, young labor force, labor costs and low real estate prices, compared with 10 major ASEAN countries and has pushed the real estate industry in Cambodia to grow remarkably. Real estate trading seems to be slow, but the construction of large buildings in Phnom Penh remains strong because of investment. Kin from major countries, especially China, ranked first, followed by Korea, Japan, Singapore and Thailand, "he added.

The 60-meter highway (Samdech Hun Sen) is becoming a new investment destination in the south, which can be called a new potential area, a highly competitive venue between major real estate developers from abroad and local investment. Of course, five years or ten years after Samdech Hun Sen Highway will be a Potential Zone 1 in the South of Phnom Penh, it is decorated with luxury buildings, commercial buildings, supermarkets and parks.

Traveling along Samdech Hun Sen Highway, it is observed that there are active construction projects, including hostels, parks, etc. The famous Borey Mansion, Borey New World, and Borey Peng Huoth also started their own operation along Hun Sen Boulevard.

The 2,600-hectare ING City satellite project is the largest development project in Cambodia and one of the largest projects in Southeast Asia. And the satellite city project ING City has many different development projects are under construction, including housing projects, shopping mall, commercial and retail, combined services. The Urban Village project is 7.6 hectares, 2.1 hectares of Lingnan Garden and R & F City, a joint development project invested by a Chinese company or Chinese subsidiary in Cambodia, has captured the site along Hun Sen Road. This.

In addition, Prince Real Estate, a large construction company that has entered Cambodia for less than five years, has expanded its subsidiary to 30 companies and expanded its investment to $ 4 billion. As of the first quarter of 2019.

According to AKP, Lim Ly, CEO of the company, said the firm's decision to invest in real estate projects in Cambodia was due to the company's rapid growth of Cambodia's economy compared to other countries in the region, Is playing a vital role in boosting national economic growth, and the sector is demanding further reintegration. Also increased to meet demand.

Recently, Chinese companies signed a lease agreement along the Tonle Sap from Chroy Changvar Bridge to the Night Market for Cheng Chung Thai Group for the development of the "The City Gate" .

Under this agreement, Chean Chhoeng Thai Group will develop this area into a multi-purpose commercial center, including building, office, trade center, arts center, arts and culture center, courtyard garden, water dancing and floating market gardens, harbor parks, Public Park, Intelligent Tourism Center, Office of Technology, Housing, Culture, Consolidation, Tower Building Innovative including malls and five-star hotels, exhibition halls and Intangible Heritage Center for Crafts and Fine Buddhist religious and cultural activities, as determined by the Council of Ministers.

Experts confirm that the reason China invests heavily as Chinese investors follow government foreign policy because of the good relations between Cambodia and China, especially the Chinese government has banks to provide 50% investment to investors on various projects. These are the main buildings where Chinese investment finishes construction as scheduled in a timely manner.This news from business-cambodia.com