Over the past year, real estate market conditions in Cambodia have experienced a lot of volatility. 2016 started off positive; however, steady decline was recorded in the latter half of the year. Currently, the Cambodian property market faces an oversupply of condos leaving investors in a quagmire. With no signs of any form of a quantum leap in the property market, investors are looking for qualitative analysis edging them towards their next investment.
PropertyGuru’s annual awards series highlights a number of quality properties outside of Phnom Penh that could prove to be sound investments. More than 30 projects located in prime investment destinations across Siem Reap, Sihanoukville and Phnom Penh coming from 11 of the Kingdom’s leading real estate developers joined this year’s competition, making the shortlist for the second annual PropertyGuru Cambodia Property Awards 2017.
The gala event, to be held on March 24 at the Sofitel Phnom Penh Phokeethra, will facilitate the crème de la crème of property developers.
Leading this illustrious list of nominees is Phnom Penh City Center with a total of five nominations across the Development and Design categories, including Best Housing Development (Phnom Penh) and Best Retail Development. Its parent company’s corporate headquarters, called The Vanguard, is nominated for Best Office Development and will go up against two-time nominee TACC (C.R.) Ltd., developer of the mixed-use project called The Gateway.
Other companies that received multiple nods include: Habitat, which is vying for three awards including Best Condo Development (Phnom Penh); twice-nominated Courtyard by Marriott Phnom Penh from developer Khou Investment Co., Ltd.; and Les Bijoux d'Angkor, which is up for two awards.
Borey Peng Huoth, winner of the Best Developer (Cambodia) title at the first-ever Cambodia Property Awards, returns with nominations for its critically-acclaimed Grand Star Platinum project in the Best Housing Development (Phnom Penh) category. Already a double winner in 2016, Grand Star Platinum enters the awards race again due to further development and construction in the property.
Hari V. Krishnan, CEO of PropertyGuru Group, said: “Cambodia real estate has grown tremendously in the last few years, and we look forward to bringing lessons from the more established regional markets to this country, to assist with the maturation process. PropertyGuru Group’s presence in Cambodia through the Asia Property Awards helps us progress our company mission of helping people make confident property decisions."
Top country winners in Cambodia will be moving forward to the two-day PropertyGuru Asia Property Awards grand finale this November in Singapore to compete for more regional accolades.
Tickets and partnership opportunities for the PropertyGuru Cambodia Property Awards 2017 are still available. For details, email: [email protected] or call +66 (02) 204 9555.
More information at: AsiaPropertyAwards.com/Cambodia-Property-Awards/