Camko City’s potential seen

Camko City’s potential seen

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The gateway to Camko City project. Photograph: Hong Menea/Phnom Penh Post

Property experts say the Camko City project has a great deal of potential, after visiting and studying the satellite city last week.

Kim Heang, general manager of Khmer Real Estate Co, said that he is very interested in Camko City because he has seen that it has good infrastructure and sewage and electricity systems, the buildings are of good quality and its interior design is of international standards.

“I’m so interested there because Camko City has so much potential, while the real estate development there is good. We felt normal before we arrived there, but after being there for a while we wanted to live there,” said Kim Heang. “The sites and the environment made us feel good and want to live there.”

Kim Heang added that this project was delayed due to the global economic and financial crisis, but now it was over. This project will succeed, compared to others, because the site and the environment are popular, he said.

Kuy Vat, CEO of VTrust Property, expressed his optimism in Camko City, saying that it is ideal, including infrastructure and gardens, but said the site is a little bit far from the centre of the city, but it is still near the city, that is constantly developing.

“I think that this project will succeed if its owner closely cooperates with the Cambodian Valuers and Estate Agents Association because this association can help this project process and attract investors,” he said. “Because this project is near the city, we therefore work well each other, it will succeed.”

Cheng Kheng, director of the CPL real estate company and president of the Cambodian Valuers and Estate Agents Association, who led its members to visit the project, said that all companies as members are interested in Camko City. He said all the members see this project clearly as being attractive to foreign investors.

He continued that some rumours had said that Camko City previously faced problems, and that while some information is true and some is untrue, directly visiting the project has allowed his members to see how the project is progressing and how they can help.

“This project is good in the city and it is not finished its construction. We can buy and hire here because there are existing renters. Our investment here, we will get money back from eight to 10 per cent,” he emphasized.

K.C Whang, deputy director for Camko City’s division management, said that they are very exited that the Cambodian Valuers and Estate Agents Association can help investors in preparing and managing the development in Cambodia. The establishment of this association plays a very important role to help project developers with new investors who are making investments into the Kingdom.

“The value of Agents Association is very vital because it makes investors are confident the value that is issued by this association,” he said.

The Camko City project is being developed in three parts, and two parts are completely finished including 15 condo buildings, while eight condos were completely constructed and seven condos were being constructed.

The company also finished the construction of 18 villas and 164 flats that have already sold out.

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