Real estate in Kep will be popular

Recently, Cambodian investors are very interested in real estate investment in the coastal region of Kep Province.

On July 9, under the guidance of Som Piseth, Governor of Kep Province, Ung Kheang, chairman of the board of directors of T.O.I.C Group, organized a domestic investment delegation to conduct a field visit to the investment potential of Kep Province in order to find investment opportunities there and further promote the economic development of the province. Kep Governor Som Piseth introduced the investment potential and fields of Kep Province to the delegation.

Ung Kheang, Chairman of the Board of Directors of TOIC Group, said that after meeting with Som Piseth, Governor of Kep Province, domestic investors expressed their interest in real estate investment projects in the province, and planned to open real estate engineering investment projects there to promote in depth tourism in Kep Province.

Kep will be next real estate investment destination?

Kep located in South of Cambodia covers a small area. According to the preliminary results report of the National Census released by the Ministry of the Interior on August 7, 2019, the population of Kep Province is 41,798, accounting for 0.27% of the total population of the country, making it the least populous province in Cambodia.

The economic pillars of Kep Province are service industry (54%), agriculture (29.75%) and industry (16.3%). For a long time in the past, the gross domestic product and GDP per capita of Kep Province are not so well.

Recent years, Cambodia has focus on develop coastal province, Kep’s advantages have emerging gradually.

The province of Kep is close to the Vietnam border and the Gulf of Thailand. Compared with the inland regions, coastal provinces have unique geographical advantages, which are more conducive to the development of tourism and trade.

Cambodia is at the strategic center of ASEAN countries and is an important global trade channel. Coastal cities can directly undertake trade transactions, and their development advantages are more obvious. Construction of factories in the coastal area of Cambodia can facilitate access to large international markets.

Cambodia is one of the biggest beneficiaries of the Belt and Road strategy. The location advantages of the southern coastal provinces are more conducive to gain development dividends. Against the background of continuous improvement of infrastructure, Kep and other coastal areas entered the public's vision, attracting the attention of many domestic and foreign investors.

Secondly, Cambodia's tourism industry is in a stage of comprehensive reform. The COVID-19 epidemic has accelerated the process of tourism diversification. The growth of domestic tourist demand has driven the rise of emerging tourism markets, and investors could see more possibilities in emerging markets.

Kep province is rich in tourism resources, with 6 kilometers of sandy beaches, beaches, rich seafood and beautiful natural scenery, it is a typical coastal city.

Comparing with Sihanoukville, local tourists are favor Kep, Kampot, Koh Kong. According to this year tourism report, coastal cities are the ideal tourism destination favored by tourists. Judge from tourists, Kampot rank as top 1, Kep rank as top 2, both of them get great potential.

As a new tourist destination, Kep is very eye-catching in tourism planning. Tourism Minister Thong Khon pointed out that Kep Province may not allow the development of casinos and industrial areas in the future, aiming to make the area an advanced leisure tourism area and encourage foreign retirees to stay in Kep for long term. According to the plan, Kep will become a representative tourist destination in Cambodia in the future.

Geographical advantages and natural resource advantages will increase, and the white horse province will usher in new breakthroughs in trade, tourism, real estate and other fields, and the economy will become more diverse.

However, compared with other provinces, Kep has a smaller area and scarce land resources. No matter build project or purchase as fixed asset investment, the land market needs to be purchased in advance before the land price skyrocketed.