Almost $3 billion worth of investment in the construction was approved by the Ministry of Land Management, Urban Planning and Construction during the first 11 months of this year, according to a report from the ministry. This massive investment is one pillar underpinning the country’s economic growth, forecast at 6.9 percent this year.
One of Cambodia’s largest developers Orkidé Villa Co, Ltd. has been focused on the outskirts of Phnom Penh, rather than the city center. Khieu Sarsileap, the company’s chief operating officer, spoke with Khmer Times about the company’s strategy and the outlook for residential development in Cambodia.
KT: Can you briefly describe your company for expatriates who may be unaware of it?
Ms. Sarsileap: Orkidé Villa Co. Ltd. is a 100 percent locally owned property developer that focuses on villas, shop houses and condominiums.
KT: And the property market, how do you sum up what is going on for foreign nationals looking at the market here?
Ms. Sarsileap: Cambodia is a country with a very young population that is only beginning to realize its potential in many areas, such as tourism, resources and investment opportunities. The property sector has been growing extremely fast over the past few years and we believe there is still a lot of untapped potential in the market.
KT: What projects are you working on now?
Ms. Sarsileap: We currently have two major projects on the go, and recently completed another: Orkidé Villa The Grand. Residents have already started moving into Orkidé The Grand. It is a modern and luxurious development comprising more than 200 beautifully twin villas and grand villas, located along Street 2004 – also known as Maida Street – in Phnom Penh’s up-and-coming Sen Sok district.
One project under construction is Orkidé The Royal, which has shop houses and villas over a 36-hectare site. When completed it will have 224 shop houses and 630 king and queen villas, as well as townhouses. We also recently announced our latest project Orkidé The Royal Garden, a condominium project. The VIP preview launch was on November 11.
Orkidé The Royal Garden will feature more than three hectares of landscaped gardens along with a host of amenities, including a massive swimming pool complex with a beach area, meditation zones, children’s play areas and fitness centers. It will offer residents a modern world class lifestyle in a safe and beautiful community in a prime Phnom Penh location [on the road to the airport].
Its six towers will have 1,418 condominium units in total, and they will be put on the market in phases. We plan to start construction in the middle of next year and complete it by 2019.
KT: What is your assessment of the market now?
Ms. Sarsileap: The property sector in Cambodia has developed rapidly over the past few years. More and more local and international developers are launching projects here, which has led to more choices and better options for buyers, and contributed to the development of a strong industry with plenty of potential for future growth.
KT: Who are your target customers and what marketing strategies do you use to attract them?
Ms. Sarsileap: The variety and convenience of on-site facilities at our developments tends to attract both local and foreign buyers interested in a sophisticated, modern lifestyle.
Our target customers are dynamic professionals who demand that little bit more from their living space, and we believe they will be attracted by amenities like pools, gyms, a sky club and on-site shopping mall that residents at Orkidé The Royal Condominium will have access to. Also, our payment options are flexible and easy to pay, which attracts more buyers
KT: Many developers say their investment in condos and apartments focus on foreign buyers, and they are looking for rising demand from them as the ASEAN Economic Community kicks in. But others say supply exceeds demand. What is your view?
Ms. Sarsileap: Cambodia is developing rapidly, and the country’s young, increasingly urban, population now has access to opportunities that would not have been possible just a few short years ago. As economic conditions continue to improve, so too does demand for safe, modern homes that offer an added level of luxury and convenience.
KT: How does the market here compare to those in neighboring countries like Thailand and Vietnam?
Ms. Sarsileap: Over the past few years, we have seen strong growth in property sectors all across the region, thanks to increased local demand, improved regulations and a rise in investor confidence.
We believe there is every reason to be optimistic about property markets in Southeast Asia, and Cambodia is no exception.
Stars or celebrities are who the world is crazy after them. They have tremendous amount of fans and these are the fans which make their worth. The more a celebrity has the fan following, the more his or her worth is in the industry. The more the worth a celeb has, the more fees for the project he or she charges for their ventures. Stars are colossally followed and their fans follow their fashion statements and whatever they do tremendously. There is absolutely no doubt in the fact that the ratings of the stars are loved to read and watched, which is why the magazines, publications and media keep on generating the ranking lists of the stars. This article will let you know the top 10 world famous stars, who are enjoying the super stardom and money. Enjoy reading the list.
How to draw 3D on The paper.
