{"id":132598,"date":"2019-03-19T14:44:00","date_gmt":"2019-03-19T07:44:00","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sea-to-summit-where-can-foreign-investors-invest-in-cambodia\/"},"modified":"2022-12-11T02:54:48","modified_gmt":"2022-12-10T19:54:48","slug":"sea-to-summit-where-can-foreign-investors-invest-in-cambodia","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sea-to-summit-where-can-foreign-investors-invest-in-cambodia\/","title":{"rendered":"Sea to summit: where can foreign investors invest in Cambodia?"},"content":{"rendered":"


\nWedged between the South China Sea and the economic dynamos of Thailand and Vietnam, Cambodia is jockeying to become a major player among emerging Asian markets. Like Laos to its north, the kingdom has in recent years trebled an influx of property investments from China\u2019s globe-trekking Belt and Road initiative, lured by its open foreign investment laws and laidback regulatory environment for gaming. Tourism has been upbeat as well, with visitors fanning out from the world-famous temple complexes of Siem Reap to the kingdom\u2019s relatively unspoiled islands. While its capital city still dominates the residential real estate market, it is no longer the be-all and end-all choice when investing in Cambodia. \u201cI believe that Phnom Penh is the first option if any international developer plans for a large-scale investment,\u201d said Sorn Seap, CEO of real estate agency Key Real Estate Co Ltd. \u201cThen the second option I refer to Sihanoukville. It is the second largest development destination after Phnom Penh.\u201d Sorn Seap, who leads the independent panel of judges of the PropertyGuru Cambodia Property Awards, added, \u201cNew markets, including Poipet, Bavet, and Sihanoukville, are showing potential for condo development to sell to foreign buyers.\u201d The rapid transformation of Sihanoukville over the last two years is pegged on its cachet as Cambodia\u2019s only deep-water port, making it a crucial cog in China\u2019s Belt and Road map. As a mark of confidence in Sihanoukville, Beijing has bankrolled the construction of a 190-kilometre expressway connecting the Chinese city to Phnom Penh. The project will begin development in the first quarter of 2019. \u201cToday, there are many ongoing medium- and high-end projects in this new boomtown. It will soon transform into a modern coastal city,\u201d Sorn Seap said. A jump-off point for the islands of Koh Rong and Koh Rong Samloem, Sihanoukville recorded more than 1.3 million tourist arrivals in the first half of 2018, a 10-percent leap from the previous year. Of the 290,782 foreign arrivals, around 84,664 were Chinese: a nearly 44 percent year-on-year increase. \u201cDue to a huge number of arrivals, tourism has helped develop the real estate sector in Siem Reap and Sihanoukville. Many new constructions are being built, and land prices and rental rates have continued to rise notably,\u201d he noted. Similar trajectories can be found elsewhere along the Cambodian coast. The beachside cities of Kep and Kampot are especially being \u201ceyed on by investors\u201d on account of their rising local and international tourist numbers, he said. All in all, an estimated 4.8 million foreign tourists visited Cambodia during the first 10 months of 2018 \u2014 1.6 million of whom were Chinese. \u201cTourism growth in the cities has already stimulated many investors to build variety of properties to satisfy the demand of visitor arrivals every day,\u201d Sorn Seap added. \u201cThe influx of tourists requires a broad range of services, ranging from food and entertainment to accommodations. Developments needed include restaurants, hotels, apartments, shopping malls, offices, casinos, and much more.\u201d Tourists are not only after sand and surf in Cambodia: Sihanoukville, along with the border towns of Poipet and Bavet inland, is a veritable gaming nexus \u2013\u2013 home to 59 percent of all casinos in Cambodia, consultancy firm CBRE pointed out. Punters have long gravitated towards Poipet and Bavet, which straddle Cambodia\u2019s borders with Thailand and Vietnam, respectively, to escape more onerous gambling laws in those nations. The arrival of Chinese players has changed the game, however. Fuelled by Chinese purchases, real estate prices in Poipet and Bavet have soared by 20 to 30 percent from early last year, according to development firm Lucky Realty Co Ltd. As important transit points for goods and transportation between three countries, each area has truly shown \u201cunique potential for new developments,\u201d Sorn Seap said. The border towns have become the addresses of choice for special economic zones (SEZ). Inbound capital investment from China is driving development of these zones in Bavet and generating thousands of jobs, reported Kim Heang, president of the Cambodian Valuers and Estate Agents Association (CVEA). Land prices in Bavet\u2019s commercial sites or those adjacent to National Road 1 have risen to USD200 to USD300 per square metre. Ecozones echo the country\u2019s remarkably open foreign investment regime, a fact that has long \u201cencouraged investors to come,\u201d according to the Cambodia Property Awards chairperson. The 1994 Law on Investment allows 100-percent foreign ownership of companies and investment projects in most sectors. The government is already seeking to revise the law, last amended in 2003, to create a more favourable investment climate. Although foreigners are constitutionally forbidden to own land, they can still acquire plots through a locally incorporated company. The 2001 Land Law also permits long- or short-term leases to foreigners. Non-citizens can freely buy residential units in co-owned or multi-storey buildings from the second floor up. \u201cI am optimistic about demand from abroad. They will continue to buy condos in Cambodia if we still have a stable political situation and economic growth,\u201d said Sorn Seap. At this junction he stressed the importance of gaining industry recognition for projects. \u201cDevelopers themselves need to promote their projects through an international marketing campaign, such as the Cambodia Property Awards, in order to make their name known at the international level,\u201d he said. \u201cI believe that Cambodia Property Awards will help attract more buyers and investor from the region and the rest of the world.\u201d Learn more about the 4th\u00a0Annual PropertyGuru Cambodia Property Awards here: http:\/\/www.asiapropertyawards.com\/
\n
\nSource : property-report.com
\nRead more…Sea to summit: where can foreign investors invest in Cambodia?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wedged between the South China Sea and the economic dynamos of Thailand and Vietnam, Cambodia...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-132598","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-yuG","jetpack-related-posts":[{"id":22518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/for-singaporean-investors-theres-no-place-like-cambodia\/","url_meta":{"origin":132598,"position":0},"title":"For Singaporean investors, there\u2019s no place like Cambodia","date":"August 10, 2016","format":false,"excerpt":"\r With a foreign investment regime more open than many ASEAN nations, Cambodia has become the place to be for Singaporean investors With its open, liberal FDI policies, Cambodia is luring Singaporean investors. Image credit: Dmitry A. Mottl (Wikimedia Commons) Cambodia has become the fulcrum of attention for Singaporeans in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/laos-tipped-to-be-the-next-cambodia-as-relaxed-rules-for-foreign-homebuyers-can-make-it-a-property-investment-hotspot\/","url_meta":{"origin":132598,"position":1},"title":"Laos tipped to be the \u2018next Cambodia\u2019 as relaxed rules for foreign homebuyers can make it a property investment hotspot","date":"March 2, 2021","format":false,"excerpt":"\r With foreign home ownership rules being eased, Laos, one of the least developed countries in Southeast Asia, has the potential to become an investment hotspot and be the \u201cnew Cambodia\u201d, according to analysts.In August, the government formally rolled out revisions to a new law allowing foreign ownership of flats\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41999,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-chinese-capital-outflows-no-problem-just-go-to-cambodia\/","url_meta":{"origin":132598,"position":2},"title":"No Chinese capital outflows? No problem \u2014 just go to Cambodia","date":"January 26, 2017","format":false,"excerpt":"\r Mainland investors dodge onerous curbs on capital flight The growing Phnom Penh skyline backlit at sunrise. khlungcenter\/Shutterstock Chinese property investors are still finding loopholes to take advantage of the US dollar\u2019s appreciation to the yuan despite Beijing\u2019s clampdown on capital outflows. Yet they don\u2019t even need to go to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20828,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cambodia-to-build-huge-tv-tower-and-stadium-for-2023-sea-games\/","url_meta":{"origin":132598,"position":3},"title":"Cambodia to build huge TV tower and stadium for 2023 SEA Games","date":"July 26, 2016","format":false,"excerpt":"\r A flurry of activity in the Cambodian capital in preparation for the 2023 SEA Games Hustling and bustling through the Khmer capital. Image credit: hds (Flickr) Cambodia\u2019s ambitions continue to reach upwards. Following plans to build the tallest building in Southeast Asia, developers in the Khmer Kingdom have set\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2258,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/construction-values-in-cambodia-reach-all-time-high\/","url_meta":{"origin":132598,"position":4},"title":"Construction values in Cambodia reach all-time high","date":"January 22, 2016","format":false,"excerpt":"\r 2015 was a record-breaking year Phnom Penh\u2019s Chamkar Mon district | Image credit: Aria Danaparamita\/The Cambodia Daily Approved construction projects in Cambodia in 2015 grew to an estimated value of USD3.33 billion, a 33 percent year-on-year increase from the previous year, according to the latest report released by the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/Phnom-Penh\u2019s-Chamkar-Mon-district_Aria-DanaparamitaThe-Cambodia-Daily.jpg?fit=740%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":34552,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-buy-land-in-cambodia-like-angelina-jolie\/","url_meta":{"origin":132598,"position":5},"title":"How to buy land in Cambodia (like Angelina Jolie)","date":"November 16, 2016","format":false,"excerpt":"\r With prudence, it\u2019s easier than you think Special envoy of the United Nations High Commissioner for Refugees Angelina Jolie during a meeting with Greek Prime Minister Alexis Tsipras in March 2016. Ververidis Vasilis \/ Shutterstock.com It has truly been the year of the insular and inward-looking. From Brexit to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/132598"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=132598"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/132598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=132598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=132598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=132598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}