Expo in capital aims to attract foreign investors to real estate

More than 100 local and international real estate developers will attend the Home & Lifestyle Expo 2019 in Phnom Penh late this month.

The event will help attract foreign investors to further contribute to the Kingdom’s growing real estate sector, say insiders.

The Home & Lifestyle Expo 2019, which will be held on Koh Pich between April 26-27, will feature local and international development projects offering houses, boreys (gated communities), condominium projects and land lots. CEO Thomas O’Sullivan, an organiser of the event, on Wednesday said many foreign investors are not yet aware of or understand the Kingdom’s property development situation. The event will help boost the Cambodian property market, both locally and internationally, he added.

“Through this event, foreigners will become more interested in buying property in Cambodia,” he said, adding that it is a good opportunity for Cambodians looking to invest in the sector as well.

“The event will gather new real estate projects and a number of influential companies and will play an important role in the real estate market in Cambodia,” he said.

Cambodian Valuers and Estate Agents Association secretary-general Suos Chenda said the real estate and construction sectors are playing a key role in helping to boost Cambodia’s economic growth. The sector will continue to progress over the next five years, he added.

“Because Cambodia has good political stability and laws which are very favourable to foreign investors, the exhibition will help attract foreigners to come and invest in Cambodia,” Chenda said.

Ministry of Land Management, Urban Planning and Construction data shows that construction sector capital last year was worth $5.228 billion, down 18.66 per cent from 2017 that had a value of more than $6.428 billion.