Cooling measures and uncertainty in the Singaporean property market saw investors flock to the inaugural Cambodian Property Show at the Marriott hotel in Singapore last weekend.
The show was another collaboration between Cambodian property portal website, www.realestate.com.kh, and Singapore’s online property network, PropertyGuru.
The opening address from His Excellency Cheth Naren, Cambodia’s Ambassador to Singapore, told a packed room of potential investors wanting to understand the local Cambodian market, “Cambodia as a country is not only rich in sublime heritage sites, such as Angkor Wat, but is also a country rich in natural resources and a country focused on development and improving infrastructure.”
Two of Cambodia’s leading development firms, Silvertown Metropolitan and Eastland Development, led the charge by taking the initiative to showcase the Cambodian property sector, as well as their own projects to the 250-plus attendees over Saturday and Sunday.
Some noteworthy presenters at the expo included Sam Yang, CEO of Eastland Development (HK); Ly Senleap, CEO of FUGI Investment; Alfred Chia, CEO of SingCapital Pte Ltd; Guillaume Massin, managing director & partner of DFDL Cambodia; Vic Bolye, sales director of www.realestate.com.kh; Simon Vancliff, investment and development director of ING Holdings; and Allen Park, legal advisor at P&A Asia Law Office.
Yang, of Eastland Development, said, “The attendance across both days at the show last weekend, on site sales and the more than 25 Singaporeans now booked to travel and visit my development sites in Cambodia, is proof that Singaporean investors now identify Cambodia as a prosperous investment landscape.”
In an interview with Winston Lee, regional head of new projects at PropertyGuru, and Tom O’Sullivan, director and CEO of www.realestate.com.kh, O’Sullivan noted that “the collaboration between PropertyGuru and www.realestate.com.kh has allowed us to bring local Cambodian projects to the international market, and we hope that the success in sales and interest from this first Cambodia Property Show in Singapore encourages more developers to participate in PropertyGuru regional property shows in the future - and more Singaporean investors to seriously consider the Cambodian property market.”
A Singaporean investor at the two-day expo mentioned, “Cambodia presents an attractive proposition for an investor, and the returns are a lot more attractive not only from Singapore’s, but also neighboring countries.”
“The development infrastructure such as improved motorways, SEZs, deep-sea ports. and a slated rail network will only add to investor confidence in the Cambodian real estate market moving forward.”
Early bird discounts are still available for the “Emerging Markets Property Show” in Singapore on the 8th and 9th of October 2016.