Logo of Phnom Penh Post newspaper Phnom Penh Post - Real estate sector convenes in the capital

Real estate sector convenes in the capital

Content image - Phnom Penh Post
Oknha Ly Hour addresses the audience at the Asean Real Estate Network Alliance gathering over the weekend in the capital. Heng Chivoan

Real estate sector convenes in the capital

Capital investment in the construction sector totalled over $23 billion in the last five-and-a-half years, the Cambodia Constructor Association (CCA) said.

Speaking at a gathering of the Asean Real Estate Network Alliance (Arena) which was held over the weekend at the capital, CCA board member Charles Vann said that the economic and population growth has increased demand for residential buildings in the Kingdom.

This growth has pushed capital investment since 2013 through the first half of this year up to $23.14 billion, he said.

Arena hosts the annual meeting of Real Estate Professional Networks in Asean. The Kingdom played host this year to the meeting’s seventh segment. Nearly 700 participants showed up from Asean nations as well as China, Japan, South Korea, Australia, Europe and the US.

Mey Vann, director-general of the Ministry of Economy and Finance’s (MEF) Department of Financial Industry, said: “The event will attract more foreign investors to Cambodia.”

Kim Heang, the president of Cambodian Valuers and Estate Agents Association (CVEA) who is also this year’s president of Arena, said the event brought real estate professionals from around the world together to share experiences and find new partnerships.

“If foreign investors want to buy land in Cambodia, who should they contact? If Cambodians want to buy real estate overseas, who should they contact? This event was to bridge connections like these,” he said.

MOST VIEWED

  • Virus tops 84 with new cases in S’ville

    The Ministry of Health on Sunday night confirmed another 31 cases of coronavirus infections, bringing the Kingdom’s total to 84 and it highest daily tally. There have been no fatalities thus far. The latest cases were found in 29 French tourists and their two Cambodian tour guides

  • Two French tourists latest Covid-19 cases in Kingdom

    The Kingdom on Saturday saw two more cases of coronavirus infections, bringing the total to 53. While the majority of the previous cases are linked to a Muslim religious gathering in Malaysia, the latest cases involved two French tourists visiting Sihanoukville. The Ministry of Health said

  • Kingdom’s virus toll tops 84, Cambodians in Thailand rush home

    The Ministry of Health on Sunday night confirmed another 31 cases of coronavirus infections, bringing the Kingdom’s total to 84 and its highest daily tally. There have been no fatalities thus far. The latest cases were found in 29 French tourists and their two Cambodian tour guides

  • NBC calls for cashless payments

    The National Bank of Cambodia (NBC) has urged government ministries, financial institutions and the public to conduct cashless payments via electronic systems where possible to combat the spread of Covid-19. “To contribute to the prevention of Covid-19, the National Bank of Cambodia encourages financial institutions

  • CEO held for fraud in Siem Reap

    Over 200 individuals gathered in front of the Siem Reap Provincial Court last week to ask that Dim Suonnath, the CEO of a real estate company being held for fraud, take responsibility for compensating some 2,000 residents who invested with him. The request was denied. Suonnath responded

  • Ministry calls for home schooling

    Minister of Education, Youth and Sport, Hang Chuon Naron appealed to parents of students to provide home education in a proper environment and help them obtain more learning materials. The ministry also allowed schools to take a premature vacation after several people tested positive for