Listed real-estate companies on rise
THE number of listed rea l-estate companies in Cambodia continues to increase due to t he sector’s grow th in the Kingdom, data from the Cambodian Valuers and Estate Agents Association (CVEA) said.
CVEA figures show that its membership has increased from 96 companies early t his year to 107, 18 of which are foreign-owned.
CVEA secretar y-genera l Moth Vanneth said grow th is boosting competition in the sector.
“To gain market share, each company must respect the law and strengthen its ser v ices by working professiona lly to gain t heir clients’ t r ust.
“The grow th of t hese member companies shows progress in the Cambodian propert y market as well as an understanding of the importance of obeying the law.
“I expect that by the end of t his year, t he number of association members will increase to 110 companies,” he said.
Vanneth said the CVEA’s foreign members are from China, Malaysia, the US and Singapore. But, t here are a lso many unregistered companies operating in the market.
At t he Centur y 21 Cambodia rea l-estate a nnua l meeting held last weekend, its CEO Grace Rachny Fong sa id t he Kingdom’s rea lestate sector i s current ly at t ract i ng i nvestors from many count ries a round t he world.
She said foreign tourists and travelling investors are a l l beneficial for nationa l economic grow th.
“This is t he first time such a big event has been organised i n Cambodia. The event has helped spread the potentia l of the Cambodian rea l-estate and construction sectors to t he world,” Fong said.
Cambodia is the 75th countr y to open franchises of t he US-based Centur y 21. Other internationa l rea l-estate companies doing business in Cambodia include – CBRE Cambodia, Knight Frank LLP, Keller Williams Realt y Inc and ER A Real Estate.