ADS
Sunday, March 3, 2013
Cambodia hotel market booming
Last Updated on 20 February 2013
- By Laura Walters
Raffles Hotel Le Royal in Phnom Penh. Photograph: Wesley Monts
The hotel sector in Cambodia had a positive year in 2012 and rates and room numbers are set to increase this year and next.
A new report from property agents CBRE says tourism accounted for 9.7 per cent of Cambodia’s GDP in 2012, a rise of 5.5 per cent from 2011. Investment in the tourism sector has increased by 16.7 per cent year on year, and total foreign arrivals increased by a massive 24.8 per cent year on year, with business arrivals seeing the greatest increase, at 47 per cent.
The Phnom Penh luxury hotel market “significantly benefitted from the presence of the ASEAN summits,” in April and November, which CBRE said brought over 1,000 delegates and international press into the city.
CafΓ© society competition hots up
Last Updated on 20 February 2013 By Laura Walters
Local and foreign business owners seem to be jumping on the bandwagon in light of the success of the western-style cafes which seem to dot every street corner of Boeung Keng Kang 1 district.
However local real estate experts say not all of the air conditioned, latte-serving hangouts can survive in the area, despite the growth of the market.
Local and foreign business owners seem to be jumping on the bandwagon in light of the success of the western-style cafes which seem to dot every street corner of Boeung Keng Kang 1 district.
However local real estate experts say not all of the air conditioned, latte-serving hangouts can survive in the area, despite the growth of the market.
Asia Real Estate Cambodia Vice President Kuek Narin said the area, which is known as Phnom Penh’s main expatriate area, has experienced rapid growth over the past seven years.
Kampot land prices stable
28 February 2013 By Siv Meng
Property experts said the land prices in Kampot province have been “stable” in early 2013 despite trading more actively than last year.
Nuon Rithy, managing director at the Bonna Realty Group, said the trading of land in Kampot province is quiet and nothing changes much because there are no nice beaches for attracting tourists.
Property experts said the land prices in Kampot province have been “stable” in early 2013 despite trading more actively than last year.
Nuon Rithy, managing director at the Bonna Realty Group, said the trading of land in Kampot province is quiet and nothing changes much because there are no nice beaches for attracting tourists.
“If there are many tourists visiting Kampot province, there will be much development like building and hotel construction, and then the property prices may rise”, he said. “The province is an eco-tourist area and has the special economic zone to help spur industry, but the special economic zone is not yet under way.”
Foreign investment in Cambodia’s property rises
28 February 2013 By Siv Meng
Property experts say foreign companies are coming to invest in Cambodia’s property sector, as they see the growth and potential of the Kingdom.
Sung Bonna, director of Bonna Realty Group, said that the number of foreign companies in the sector has grown, and most are from South Korea, Japan, China, Singapore and Malaysia.
Chinese companies started their investments earliest, while other foreign companies have been studying and doing research about Cambodia before investing here.
Property experts say foreign companies are coming to invest in Cambodia’s property sector, as they see the growth and potential of the Kingdom.
Sung Bonna, director of Bonna Realty Group, said that the number of foreign companies in the sector has grown, and most are from South Korea, Japan, China, Singapore and Malaysia.
Chinese companies started their investments earliest, while other foreign companies have been studying and doing research about Cambodia before investing here.
“The property investment companies growth rose a little bit during 2011-212 as it grew better during 2012 and early in 2013”, Bonna said, “After Cambodia hosted the Asean Summit, with world leaders joining the meeting, we see the inflow of foreign investors into Cambodia, but some of them, at the moment, have been doing research and considering about the possible investment in Cambodia”.
Saturday, January 26, 2013
Vann Molyvann: my legacy will disappear
Written by Claire Knox
The magnificent Olympic Stadium (originally called the National Sports Complex),
designed by Molyvann in 1963. Photograph: Alexander Crook/7Days
designed by Molyvann in 1963. Photograph: Alexander Crook/7Days
Vann Molyvann, Cambodia’s most revered living architect, sweeps a creased hand over rows and rows of glossy books lining his teak bookshelf. Historical books on the Angkorian Kingdom, on Swiss chalets, the Italian Renaissance, on France’s Le Corbusier, modern Japanese architecture of the 1960s, Cambodian artisans and ancient Greece – testament to the man’s vast and varied influences.
He stands poised and protective. In the face of the widespread destruction of much of Cambodia’s historically important architecture, Molyvann’s stance is the pose of a man who faces the fear of his work disappearing, to be replaced by shiny, towering structures of steel and glass.
Monday, January 14, 2013
Job Vacancy: Architect for Collective studio
AUSaid Community Centers
job vacancy for community design workshops and construction monitoring
Collective Studio has been engaged for the design and construction of 6 community centres around Cambodia, complete within 2013. The designs will be developed through a series of workshops with each community. A local contractor has been engaged to construct each centre and Collective Studio will monitor the construction of the first center and, less intensely, the remaining centers.
We are looking for a Khmer architect to assist with community workshops and construction monitoring on a contract (not full time) basis.
Project summary:
5x community centers:
Phnom Penh (1), Poipet (1), Sihanoukville (1), Pursat (1), Battambang (1),
Two typologies: big centre and small centre
Job requirements:
Help to run community design workshops (in Khmer)
Help with construction site supervision (check design, answer contractor queries etc)
Contract:
Payment on a per site-visit rate (to be discussed)
Please contact Eva or Giacomo if you are interested.
Eva Lloyd / 089953681 / evalloydunsw@gmail.com
Giacomo Butte / 0766027913 / giacomo.butte.2@gmail.com
www.collectivestudio.cc
job vacancy for community design workshops and construction monitoring
Collective Studio has been engaged for the design and construction of 6 community centres around Cambodia, complete within 2013. The designs will be developed through a series of workshops with each community. A local contractor has been engaged to construct each centre and Collective Studio will monitor the construction of the first center and, less intensely, the remaining centers.
We are looking for a Khmer architect to assist with community workshops and construction monitoring on a contract (not full time) basis.
Project summary:
5x community centers:
Phnom Penh (1), Poipet (1), Sihanoukville (1), Pursat (1), Battambang (1),
Two typologies: big centre and small centre
Job requirements:
Help to run community design workshops (in Khmer)
Help with construction site supervision (check design, answer contractor queries etc)
Contract:
Payment on a per site-visit rate (to be discussed)
Please contact Eva or Giacomo if you are interested.
Eva Lloyd / 089953681 / evalloydunsw@gmail.com
Giacomo Butte / 0766027913 / giacomo.butte.2@gmail.com
www.collectivestudio.cc
Tuesday, January 1, 2013
Friday, September 14, 2012
Building on strong foundations
By Phnom Penh Post
Thursday, 06 September 2012 Seun Son
Tous Sapheung, the dean of the Architecture and Construction College of Panasastra University of Cambodia, said that currently Cambodia does not have the building standards to match Japan or Russia, and construction quality is still limited. He added that if Cambodia followed these two countries, it would be good, but Cambodia follows the models of US and Germany, which have never experienced earthquakes, and Khmer architects often complete their studies in those countries.
He said, “Even though Cambodia is wave-like with mountainous layers for protection, I believe that in the future there may be earthquake in Cambodia, so we must enhance the construction quality from now on.” He added that the government should not ignore the issue, but should conduct a thorough review before issuing any construction permits.
He said that four years ago, an earthquake in the south of Vietnam had an effect on Cambodia, where some areas were shaken, “so we cannot say that there will be no earthquake.” He added that what should be considered is what happened in Iran 10 years ago, when an earthquake killed half a million people and also destroyed many ancient cities. Recently, an earthquake damaged much of Japan and Russia. He said, “If these things happen, can high residential or office space buildings hold?”
Sapheung said that buildings in other countries are cracked or tilted when the earthquake is 8 on the Richter Scale, but in Cambodia, an earthquake of 5 on the Richter Scale would be enough to level all buildings.
He said, “Nearly 90 per cent of buildings did not build their foundations deep into the hard layer. Such houses will collapse first.” He added that the hard layer in Phnom Penh is at 25 to 47 meters, because the land is soft.
Lao Tepseiha, the deputy director general of construction and the deputy secretary general of the Cambodian Architecture Association, said that the ministry has reviewed all construction projects very thoroughly. If investors do not follow the Ministry’s policy, they violate the laws.
He said that the drilling for high rises will not cause earthquake or collapses. He added, “The drilling does not leave a hole, but are filled with concreting cement only. High rises must build the foundation like this.”
He added that an investor cannot determine their investment on their own, but must be done in conjunction with architects, engineers, electrical and water engineers. He said if the investment is not carefully studied, that investment will not be successful.
Lim Soktay, the dean of Architecture and Construction College of Norton University, said “Cambodia’s land is better than Thailand’s land. The soil in Bangkok is soft and poor. But in Phnom Penh, the soil is strong. Actually, in the Tuol Kork area, we can build the foundation deep, at five to 15 metres, but at the riverside, deep down to 30 metres. In Thailand the depth is twice that to prevent collapse.”
He added that high-rise buildings must be built with good foundations to prevent the buildings being damaged in the case of natural disasters such as storms, earthquake and collapse. He added that there are many kinds of foundations. “The buildings are strong based on the foundation and construction layout plan.” However he said building quality in Cambodia is “limited.”
Thursday, 06 September 2012 Seun Son
Tous Sapheung, the dean of the Architecture and Construction College of Panasastra University of Cambodia, said that currently Cambodia does not have the building standards to match Japan or Russia, and construction quality is still limited. He added that if Cambodia followed these two countries, it would be good, but Cambodia follows the models of US and Germany, which have never experienced earthquakes, and Khmer architects often complete their studies in those countries.
He said, “Even though Cambodia is wave-like with mountainous layers for protection, I believe that in the future there may be earthquake in Cambodia, so we must enhance the construction quality from now on.” He added that the government should not ignore the issue, but should conduct a thorough review before issuing any construction permits.
He said that four years ago, an earthquake in the south of Vietnam had an effect on Cambodia, where some areas were shaken, “so we cannot say that there will be no earthquake.” He added that what should be considered is what happened in Iran 10 years ago, when an earthquake killed half a million people and also destroyed many ancient cities. Recently, an earthquake damaged much of Japan and Russia. He said, “If these things happen, can high residential or office space buildings hold?”
Sapheung said that buildings in other countries are cracked or tilted when the earthquake is 8 on the Richter Scale, but in Cambodia, an earthquake of 5 on the Richter Scale would be enough to level all buildings.
He said, “Nearly 90 per cent of buildings did not build their foundations deep into the hard layer. Such houses will collapse first.” He added that the hard layer in Phnom Penh is at 25 to 47 meters, because the land is soft.
Lao Tepseiha, the deputy director general of construction and the deputy secretary general of the Cambodian Architecture Association, said that the ministry has reviewed all construction projects very thoroughly. If investors do not follow the Ministry’s policy, they violate the laws.
He said that the drilling for high rises will not cause earthquake or collapses. He added, “The drilling does not leave a hole, but are filled with concreting cement only. High rises must build the foundation like this.”
He added that an investor cannot determine their investment on their own, but must be done in conjunction with architects, engineers, electrical and water engineers. He said if the investment is not carefully studied, that investment will not be successful.
Lim Soktay, the dean of Architecture and Construction College of Norton University, said “Cambodia’s land is better than Thailand’s land. The soil in Bangkok is soft and poor. But in Phnom Penh, the soil is strong. Actually, in the Tuol Kork area, we can build the foundation deep, at five to 15 metres, but at the riverside, deep down to 30 metres. In Thailand the depth is twice that to prevent collapse.”
He added that high-rise buildings must be built with good foundations to prevent the buildings being damaged in the case of natural disasters such as storms, earthquake and collapse. He added that there are many kinds of foundations. “The buildings are strong based on the foundation and construction layout plan.” However he said building quality in Cambodia is “limited.”
Saturday, September 8, 2012
Sung Bonna: Investing in the future of Cambodia
Thursday, 06 September 2012
Rupert Winchester
Chairman of Bonna Realty Group Sung Bonna. Photograph: Heng Chivoan/Phnom Penh Post
Sung Bonna is a man with plans. Not content with being one of the most powerful players in Cambodia’s property market, he wants to take his company regional, covering all aspects of the property business.
Talking to Post Property in his bustling offices in BKK1, the genial Bonna is softly-spoken, but his steely-eyed ambition quickly becomes apperent.
Starting from a small office space in 1999 with only a desk and an old motorbike, Bonna is now the president of the National Valuers’ Association of Cambodia and vice president of Real Estate Developers Association of Cambodia.
“At the moment we have business as property investors, developers, management and real estate and property agents and property valuation, so anything related to the property business, we cover. We develop residential, we develop offices, we develop commercial. We do it all,” he says proudly.
Over the years, Bonna has seen ups and downs in Cambodia’s property market, which he blames on inconsistent investment from overseas, which is now changing. “In 2006 and 2007, the investors were mostly Korean and Chinese. The Koreans were the main players. At the moment now things are going in a different direction. The Koreans are very slightly here. Most are Chinese, Vietnamese and Malaysian. Singaporeans and also the Japanese are coming as well at the moment this is a good sign that the Japanese are coming to Cambodia. But foreign investors now make up about 30 per cent of the total transactions, and 70 per cent are Cambodians.”
Bonna says that local investors are starting to look around the country and not just at Phnom Penh. “The local market is divided into two: one is the Cambodians from overseas, the second is Cambodian Cambodians - the majority being real locals. They are starting to look at the provinces, and the other major cities, like Siem Reap, Sihanoukville, Battambang, and some of the Special Economic Zones near the borders with Siem Reap and Battambang.”
However Bonna says that Phnom Penh is still the best place for serious property investment: “After the crisis of 2008 and 2009 property prices dropped, almost 50 or 60 per cent in some locations across the whole country. In Phnom Penh is just fell by 30 or 40 per cent.”
He says that Phnom Penh has weathered the storm well, and is continuing to prosper. “Phnom Penh reached the bottom early, in 2010, and flattened out and started to be stable until 2011, but in the provinces it still continued to slide down and down until 2011. Those values are still flat, and some provinces are still down a little bit because the demand and supply isn’t there. But in general Phnom Penh is the best, especially in the city centre and areas where the government is,” he says.
“Starting from 2011,” he continues, “the number of transactions increased almost 20-30 per cent, and it makes the prices stable and pick up a little bit: comparing 2011 and now, we’ve just finished the first half of 2012, and year-on-year the number of transactions has almost doubled. But the prices have also increased, about 10 per cent on average. Especially in BKK1 and Daun Penh and along the main commercial boulevards.”
However, Bonna thinks some of the more visible stalled projects that dot the Phnom Penh skyline need to dealt with. “If there is a huge project in the middle of the city which is stuck, it makes other investors feel concerned. Sometimes they don’t think it’s a company’s internal problems, they think maybe its the country that has problems, so they think maybe the economy is not too good. Sometimes, if possible, the ministry needs to keep an eye of supply and demand, and take care of investors.”
He rejects the idea that Phnom Penh could be facing another property bubble. “I don’t think with residential there will be a bubble, the buyers at this stage are not like the buyers before. The buyers at this stage are more concerned with real demand and real investment, not like the investors in 2006 and 2007,” he says.
With commercial and office space, he is slightly less sanguine. “There is some concern that there could be some oversupply in the future but in terms of the reality, it will be a challenge to stimulate demand … the market will find a solution. In the next three years, it’s not a concern. This is good for the country, it’s good for customers and good for demand, because of the competition.”
Bonna’s plans include listing his company on the Cambodia
Securities Exchange, the country’s nascent stock market. “Now I’m preparing the company, moving it, because it was at first a family company for the first five years, then the next five years it was a local entity, and now we’re aiming to become international so we’re changing a lot of our corporate governance policy, systems and structure, we are changing, and also our accounting and tax and everything, and we hope we’ll be ready by the end of next year or early in 2014.”
I ask him why he thinks listing would be useful for him, and what the company would do with the funds raised. “We are planning to invest in Cambodia. My personal nationalism means I would prefer to develop my country, and I would prefer to invest in this country. We want to expand the brand to cover the whole country, that’s what I’m planning, to be in every province, everywhere there will be a retail office.”
His plans of rolling out the brand nationally are already well underway: “We’ve already started, in Siahanoukville, and in Siem Reap, which is opening this week, and we’ll be in Battambang by the end of this year. We want to expand to make it easy for customers and for investors, so they can just walk in, and it looks like a retail bank.”
But Bonna’s plans extend overseas as well: “We want to jump in to ASEAN as a network, so we’re planning to open branches in ASEAN countries, Next year we’re planning to have one branch somewhere, my thinking is Myanmar, and Laos, and in Vietnam, trying to bring in investors into Cambodia. We want to list to get funds to expand overseas and encourage more investors to Cambodia.”
Bonna feels that this is a good time to invest in the Kingdom. “Cambodia still has a lot of advantages, interesting things, there are only some negative things in terms of its reputation, but its culture and environment has more or less changed a lot, it has developed a lot in terms of the law, regulations. We know that it hasn’t reached the levels that everyone needs yet, but at least it’s changing and there are still positive signs.”
He still feels that more changes are needed before the country becomes truly competitive, however.
“We hope that the government changes more things, especially as we’re preparing to join the ASEAN Free Trade Area, so to be competitive we have to change ourselves more: the most important is the law: regulation and enforcement and culture, so this is important, so I think we still need to change, compared to most other ASEAN countries, we have more potential, and we can attract investors from around the world to Cambodia.”
Bonna says that the country’s recent history has made it harder for it to compete internationally. “Cambodia is very young, in terms of the government, in terms of the private sector, education, experience, business, human resources, things like that, it’s very young. So it’s very hard. We’re not complaining about the government but we are complaining, I suppose, about the history of our country, so everything is difficult and it’s not easy to compete with other ASEAN countries.”
Finally, I bring up the subject of the Bonna Tower, a long-mooted project to build a grand office building in Phnom Penh. “At the moment we don’t have the budget or the funds,” he tells me, “but this is our dream. As businessmen, if you don’t have a dream you cannot move, we have to build a dream to make ourselves move faster and forward to what we are dreaming, but we hope it will be coming.”
Original Post: http://www.phnompenhpost.com/index.php/Real-Estate/sung-bonna-investing-in-the-future-of-cambodia.html
Sung Bonna is a man with plans. Not content with being one of the most powerful players in Cambodia’s property market, he wants to take his company regional, covering all aspects of the property business.
Talking to Post Property in his bustling offices in BKK1, the genial Bonna is softly-spoken, but his steely-eyed ambition quickly becomes apperent.
Starting from a small office space in 1999 with only a desk and an old motorbike, Bonna is now the president of the National Valuers’ Association of Cambodia and vice president of Real Estate Developers Association of Cambodia.
“At the moment we have business as property investors, developers, management and real estate and property agents and property valuation, so anything related to the property business, we cover. We develop residential, we develop offices, we develop commercial. We do it all,” he says proudly.
Over the years, Bonna has seen ups and downs in Cambodia’s property market, which he blames on inconsistent investment from overseas, which is now changing. “In 2006 and 2007, the investors were mostly Korean and Chinese. The Koreans were the main players. At the moment now things are going in a different direction. The Koreans are very slightly here. Most are Chinese, Vietnamese and Malaysian. Singaporeans and also the Japanese are coming as well at the moment this is a good sign that the Japanese are coming to Cambodia. But foreign investors now make up about 30 per cent of the total transactions, and 70 per cent are Cambodians.”
Bonna says that local investors are starting to look around the country and not just at Phnom Penh. “The local market is divided into two: one is the Cambodians from overseas, the second is Cambodian Cambodians - the majority being real locals. They are starting to look at the provinces, and the other major cities, like Siem Reap, Sihanoukville, Battambang, and some of the Special Economic Zones near the borders with Siem Reap and Battambang.”
However Bonna says that Phnom Penh is still the best place for serious property investment: “After the crisis of 2008 and 2009 property prices dropped, almost 50 or 60 per cent in some locations across the whole country. In Phnom Penh is just fell by 30 or 40 per cent.”
He says that Phnom Penh has weathered the storm well, and is continuing to prosper. “Phnom Penh reached the bottom early, in 2010, and flattened out and started to be stable until 2011, but in the provinces it still continued to slide down and down until 2011. Those values are still flat, and some provinces are still down a little bit because the demand and supply isn’t there. But in general Phnom Penh is the best, especially in the city centre and areas where the government is,” he says.
“Starting from 2011,” he continues, “the number of transactions increased almost 20-30 per cent, and it makes the prices stable and pick up a little bit: comparing 2011 and now, we’ve just finished the first half of 2012, and year-on-year the number of transactions has almost doubled. But the prices have also increased, about 10 per cent on average. Especially in BKK1 and Daun Penh and along the main commercial boulevards.”
However, Bonna thinks some of the more visible stalled projects that dot the Phnom Penh skyline need to dealt with. “If there is a huge project in the middle of the city which is stuck, it makes other investors feel concerned. Sometimes they don’t think it’s a company’s internal problems, they think maybe its the country that has problems, so they think maybe the economy is not too good. Sometimes, if possible, the ministry needs to keep an eye of supply and demand, and take care of investors.”
He rejects the idea that Phnom Penh could be facing another property bubble. “I don’t think with residential there will be a bubble, the buyers at this stage are not like the buyers before. The buyers at this stage are more concerned with real demand and real investment, not like the investors in 2006 and 2007,” he says.
With commercial and office space, he is slightly less sanguine. “There is some concern that there could be some oversupply in the future but in terms of the reality, it will be a challenge to stimulate demand … the market will find a solution. In the next three years, it’s not a concern. This is good for the country, it’s good for customers and good for demand, because of the competition.”
Bonna’s plans include listing his company on the Cambodia
Securities Exchange, the country’s nascent stock market. “Now I’m preparing the company, moving it, because it was at first a family company for the first five years, then the next five years it was a local entity, and now we’re aiming to become international so we’re changing a lot of our corporate governance policy, systems and structure, we are changing, and also our accounting and tax and everything, and we hope we’ll be ready by the end of next year or early in 2014.”
His plans of rolling out the brand nationally are already well underway: “We’ve already started, in Siahanoukville, and in Siem Reap, which is opening this week, and we’ll be in Battambang by the end of this year. We want to expand to make it easy for customers and for investors, so they can just walk in, and it looks like a retail bank.”
But Bonna’s plans extend overseas as well: “We want to jump in to ASEAN as a network, so we’re planning to open branches in ASEAN countries, Next year we’re planning to have one branch somewhere, my thinking is Myanmar, and Laos, and in Vietnam, trying to bring in investors into Cambodia. We want to list to get funds to expand overseas and encourage more investors to Cambodia.”
Bonna feels that this is a good time to invest in the Kingdom. “Cambodia still has a lot of advantages, interesting things, there are only some negative things in terms of its reputation, but its culture and environment has more or less changed a lot, it has developed a lot in terms of the law, regulations. We know that it hasn’t reached the levels that everyone needs yet, but at least it’s changing and there are still positive signs.”
He still feels that more changes are needed before the country becomes truly competitive, however.
“We hope that the government changes more things, especially as we’re preparing to join the ASEAN Free Trade Area, so to be competitive we have to change ourselves more: the most important is the law: regulation and enforcement and culture, so this is important, so I think we still need to change, compared to most other ASEAN countries, we have more potential, and we can attract investors from around the world to Cambodia.”
Bonna says that the country’s recent history has made it harder for it to compete internationally. “Cambodia is very young, in terms of the government, in terms of the private sector, education, experience, business, human resources, things like that, it’s very young. So it’s very hard. We’re not complaining about the government but we are complaining, I suppose, about the history of our country, so everything is difficult and it’s not easy to compete with other ASEAN countries.”
Finally, I bring up the subject of the Bonna Tower, a long-mooted project to build a grand office building in Phnom Penh. “At the moment we don’t have the budget or the funds,” he tells me, “but this is our dream. As businessmen, if you don’t have a dream you cannot move, we have to build a dream to make ourselves move faster and forward to what we are dreaming, but we hope it will be coming.”
Original Post: http://www.phnompenhpost.com/index.php/Real-Estate/sung-bonna-investing-in-the-future-of-cambodia.html
Building on strong foundations
Thursday, 06 September 2012
Seun Son
Experts in Cambodia’s architecture and construction sector said that the foundation drilling for high-rise buildings in Phnom Penh is not necessarily strong enough to withstand earthquakes, but the lack of attention paid to the construction quality is a greater concern.
Tous Sapheung, the dean of the Architecture and Construction College of Panasastra University of Cambodia, said that currently Cambodia does not have the building standards to match Japan or Russia, and construction quality is still limited. He added that if Cambodia followed these two countries, it would be good, but Cambodia follows the models of US and Germany, which have never experienced earthquakes, and Khmer architects often complete their studies in those countries.
He said, “Even though Cambodia is wave-like with mountainous layers for protection, I believe that in the future there may be earthquake in Cambodia, so we must enhance the construction quality from now on.” He added that the government should not ignore the issue, but should conduct a thorough review before issuing any construction permits.
He said that four years ago, an earthquake in the south of Vietnam had an effect on Cambodia, where some areas were shaken, “so we cannot say that there will be no earthquake.” He added that what should be considered is what happened in Iran 10 years ago, when an earthquake killed half a million people and also destroyed many ancient cities. Recently, an earthquake damaged much of Japan and Russia. He said, “If these things happen, can high residential or office space buildings hold?”
Sapheung said that buildings in other countries are cracked or tilted when the earthquake is 8 on the Richter Scale, but in Cambodia, an earthquake of 5 on the Richter Scale would be enough to level all buildings.
He said, “Nearly 90 per cent of buildings did not build their foundations deep into the hard layer. Such houses will collapse first.” He added that the hard layer in Phnom Penh is at 25 to 47 meters, because the land is soft.
Lao Tepseiha, the deputy director general of construction and the deputy secretary general of the Cambodian Architecture Association, said that the ministry has reviewed all construction projects very thoroughly. If investors do not follow the Ministry’s policy, they violate the laws.
He said that the drilling for high rises will not cause earthquake or collapses. He added, “The drilling does not leave a hole, but are filled with concreting cement only. High rises must build the foundation like this.”
He added that an investor cannot determine their investment on their own, but must be done in conjunction with architects, engineers, electrical and water engineers. He said if the investment is not carefully studied, that investment will not be successful.
Lim Soktay, the dean of Architecture and Construction College of Norton University, said “Cambodia’s land is better than Thailand’s land. The soil in Bangkok is soft and poor. But in Phnom Penh, the soil is strong. Actually, in the Tuol Kork area, we can build the foundation deep, at five to 15 metres, but at the riverside, deep down to 30 metres. In Thailand the depth is twice that to prevent collapse.”
He added that high-rise buildings must be built with good foundations to prevent the buildings being damaged in the case of natural disasters such as storms, earthquake and collapse. He added that there are many kinds of foundations. “The buildings are strong based on the foundation and construction layout plan.” However he said building quality in Cambodia is “limited.”
Original Post: http://www.phnompenhpost.com/index.php/Real-Estate/building-on-strong-foundations.html
Tous Sapheung, the dean of the Architecture and Construction College of Panasastra University of Cambodia, said that currently Cambodia does not have the building standards to match Japan or Russia, and construction quality is still limited. He added that if Cambodia followed these two countries, it would be good, but Cambodia follows the models of US and Germany, which have never experienced earthquakes, and Khmer architects often complete their studies in those countries.
He said that four years ago, an earthquake in the south of Vietnam had an effect on Cambodia, where some areas were shaken, “so we cannot say that there will be no earthquake.” He added that what should be considered is what happened in Iran 10 years ago, when an earthquake killed half a million people and also destroyed many ancient cities. Recently, an earthquake damaged much of Japan and Russia. He said, “If these things happen, can high residential or office space buildings hold?”
Sapheung said that buildings in other countries are cracked or tilted when the earthquake is 8 on the Richter Scale, but in Cambodia, an earthquake of 5 on the Richter Scale would be enough to level all buildings.
He said, “Nearly 90 per cent of buildings did not build their foundations deep into the hard layer. Such houses will collapse first.” He added that the hard layer in Phnom Penh is at 25 to 47 meters, because the land is soft.
Lao Tepseiha, the deputy director general of construction and the deputy secretary general of the Cambodian Architecture Association, said that the ministry has reviewed all construction projects very thoroughly. If investors do not follow the Ministry’s policy, they violate the laws.
He said that the drilling for high rises will not cause earthquake or collapses. He added, “The drilling does not leave a hole, but are filled with concreting cement only. High rises must build the foundation like this.”
He added that an investor cannot determine their investment on their own, but must be done in conjunction with architects, engineers, electrical and water engineers. He said if the investment is not carefully studied, that investment will not be successful.
Lim Soktay, the dean of Architecture and Construction College of Norton University, said “Cambodia’s land is better than Thailand’s land. The soil in Bangkok is soft and poor. But in Phnom Penh, the soil is strong. Actually, in the Tuol Kork area, we can build the foundation deep, at five to 15 metres, but at the riverside, deep down to 30 metres. In Thailand the depth is twice that to prevent collapse.”
He added that high-rise buildings must be built with good foundations to prevent the buildings being damaged in the case of natural disasters such as storms, earthquake and collapse. He added that there are many kinds of foundations. “The buildings are strong based on the foundation and construction layout plan.” However he said building quality in Cambodia is “limited.”
Experts urge authorities to take action on extending city’s road’s
Thursday, 06 September 2012
Siv Meng
Real estate experts are expressing concern and have requested that Phnom Penh authorities widen the city’s roads to avoid traffic jams, as the two million-strong population is causing increasing congestion in the capital.
Deth Channa, managing director of VMC Real Estate Co Ltd, told Post Property that municipal authorities should come up with a master plan for better roads within the city to avoid traffic problems in the future as the population increases.
The city’s smaller roads are looking more likely to cause problems in the future, he says. He added that the authorities should build bigger roads, and four-lane highways.
“I am very much concerned at this point, because urban roads are not constructed to consistent standards. Road are too small.”
Sung Bonna, chairman of the Bonna Realty Group agreed with Channa. “We think these roads will be a problem in the future if we look Phnom Penh’s size and increasing amount people, and if the government doesn’t focus on extending the roads,” he said.
He said that the problems are not too bad now but are likely to become so in the future. “The authorities should have a master plan before undertaking developments.”
He continued “the municipal authorities should, I think, limit the size of road upwards before allowing any residential developments. It is not a sensible solution to have a problem and then to compensate for it afterwards. This is a cost to the public purse.”
Bonna went on: The authorities should accurately work out the likely traffic flow and set the size of the roads at the beginning.”
Long Dimanche, a spokesman for city hall, said the city had master plans, worked out in coordination with an expert from France, but the government had not yet approved them, because the documents are with the council of ministers.
Original Post: http://www.phnompenhpost.com/index.php/Real-Estate/experts-urge-authorities-to-take-action-on-extending-citys-roads.html
Deth Channa, managing director of VMC Real Estate Co Ltd, told Post Property that municipal authorities should come up with a master plan for better roads within the city to avoid traffic problems in the future as the population increases.
The city’s smaller roads are looking more likely to cause problems in the future, he says. He added that the authorities should build bigger roads, and four-lane highways.
“I am very much concerned at this point, because urban roads are not constructed to consistent standards. Road are too small.”
Sung Bonna, chairman of the Bonna Realty Group agreed with Channa. “We think these roads will be a problem in the future if we look Phnom Penh’s size and increasing amount people, and if the government doesn’t focus on extending the roads,” he said.
He said that the problems are not too bad now but are likely to become so in the future. “The authorities should have a master plan before undertaking developments.”
He continued “the municipal authorities should, I think, limit the size of road upwards before allowing any residential developments. It is not a sensible solution to have a problem and then to compensate for it afterwards. This is a cost to the public purse.”
Bonna went on: The authorities should accurately work out the likely traffic flow and set the size of the roads at the beginning.”
Long Dimanche, a spokesman for city hall, said the city had master plans, worked out in coordination with an expert from France, but the government had not yet approved them, because the documents are with the council of ministers.
Tuesday, August 28, 2012
Camko City restarts as banking scandals drop
Phnom Penh Post
Two men on a motorcycle pass the Camko City development in Phnom Penh in March. Photograph: Hong Menea/Phnom Penh Post
World City Co Ltd, the company behind Camko City, has resumed the construction of retail space and parks, according to Kheng Ser, assistant to the company’s Chief executive, Lee Sang-ho.
He said residential space was nearly sold out, but could not confirm a completion date for the first phase of the project.
“We do not know when it will be completed. That depends on our investment partners,” Kheng Ser said.
He declined to name the partners, citing a non-disclosure agreement.
In a recent statement issued by World City, the company said all charges involving Lee Sang-ho had been dropped.
“In the end, the Korean appellate court has finally ruled not guilty to Mr. Lee Sang-ho on the rumours by the media,” the statement read.
Local media have reported that Lee Sang-ho and Korean business leader Lee Tae-hwan, also connected with loans from the now-bankrupt Busan Savings Bank, are still serving suspended sentences on embezzlement charges.
Kheng Ser denied that Lee Sang-ho had been convicted of embezzlement charges and said all charges had been dropped.
The New Siem Reap International Airport (NSRIA), originally financed by the Korean bank, has missed two projected ground-breaking dates since April.
Tek Reth Samrach, chairman of the $1 billion project’s steering committee, acknowledged the tardiness of NSRIA Co Ltd.
“They have submitted documents but have not started yet. We must give them more time on such a big project,” he said.
NSRIA CEO Lee Tae-hwan was acquitted of malpractice charges last week, according to local media.
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Original post: http://www.phnompenhpost.com/index.php/2012082858313/Business/camko-city-restarts-as-banking-scandals-drop.html
Friday, August 10, 2012
JOB: MID LEVEL ARCHITECT OR INTERIOR DESIGNER
POSITION AVAILABLE:
MID LEVEL ARCHITECT OR INTERIOR DESIGNER
Collective Studio
Eva Lloyd / 089953681 / evalloydunsw@gmail.com
MID LEVEL ARCHITECT OR INTERIOR DESIGNER
Collective Studio
Eva Lloyd / 089953681 / evalloydunsw@gmail.com
Giacomo Butte / 0766027913 / giacomo.butte.2@gmail.com
www.collectivestudio.cc
What do we do?
We are a design studio.
Our work spans from architectural projects to interior fitouts, temporary installations and advocacy.
We work with commercial clients, non-government / grassroots organisations, and private individuals.
What are we looking for?
A person with a small amount (2yrs) of studio based design experience.
Ability to take over a project from the concept design phase and complete a detailed documentation set.
Ability to communicate with suppliers, builders and clients.
Some construction monitoring and 3D imagery but main focus will be on design development/technical documentation.
What experience do we require?
2yrs experience in an architectural studio or interior design studio, preferably in project documentation.
www.collectivestudio.cc
What do we do?
We are a design studio.
Our work spans from architectural projects to interior fitouts, temporary installations and advocacy.
We work with commercial clients, non-government / grassroots organisations, and private individuals.
What are we looking for?
A person with a small amount (2yrs) of studio based design experience.
Ability to take over a project from the concept design phase and complete a detailed documentation set.
Ability to communicate with suppliers, builders and clients.
Some construction monitoring and 3D imagery but main focus will be on design development/technical documentation.
What experience do we require?
2yrs experience in an architectural studio or interior design studio, preferably in project documentation.
What qualifications do we require?
Bachelor of Architecture or
Bachelor of Interior Design
Which technical skills do we require?
Adobe photoshop, illustrator, indesign
AutoCAD
ArchiCAD (not essential)
Bachelor of Architecture or
Bachelor of Interior Design
Which technical skills do we require?
Adobe photoshop, illustrator, indesign
AutoCAD
ArchiCAD (not essential)
3D software
What hours do we require?
Full time.
8am-5pm
Mon-Fri
What hours do we require?
Full time.
8am-5pm
Mon-Fri
----------------------------------------------------------------------------------------------------------------------------------------
If you are looking for staff to work for your firm, please contact blog admin:
Email: reaseyh.saophol@gmail.com
Thursday, June 14, 2012
Olympic Stadium Facebook Cover
αាαាα្αែα
English
Like our page on Facebook
Please kindly follow the link to learn more about the stadium http://cityofwater.wordpress.com/2012/02/24/a-love-letter-to-the-olympic-stadium/
Wednesday, June 6, 2012
αα្αោαα្ααាααα្αα ោះαៀααាαα្αូααα្αាα Siem Reap’s US$1bn airport delayed
Wednesday, 06 June 2012 May Kunmakara
No ground was broken in May on the New Siem Reap International Airport (NSRIA), a US$1 billion Korean investment, and officials say no definite date has been set for work on the project as the developer looks for new partners.
NSRIA Co Ltd, an equal joint venture by Camco Airport Co Ltd and Lees A&A, would not begin construction on the mega-project, for which a ground-breaking ceremony had been scheduled in May, Tek Reth Samrach, chairman of the airport steering committee, said yesterday.
The two companies, which last year were embroiled in a fraud scandal in Korea, were struggling with the project that would be the largest airport in Cambodia if completed, according to Tek Reth Samrach.
NSRIA has declined to formally notify the Cambodian government of its plans for the project, which was hoped to have a capacity of as many as 15 million passengers a year.
“We sent them a letter in early April but they replied unofficially, saying the company is facing some internal problems,” he said. “They are seeking a new partner now.”
The government has largely been left in the dark regarding details on the nature of the company’s ailments.
Tek Reth Samrach said he didn’t know which of the two companies would be seeking a new partner, or if one of the companies would be pulling out of the project.
Construction was expected as early as April, the Post reported in March.
At the time, the airport steering committee expressed confidence in the Korean company’s ability to see a timely start to the project despite a key Korean player being jailed in his home country.
Attempts to reach Camco Airport Co Ltd and Lees A&A yesterday were unsuccessful.
The companies yesterday appeared not to have websites.
NSRIA has yet to announce any new plans for groundbreaking this year, stoking some worry on possible long-term delays, the likes of which other Korean projects such as Camko City and Gold Tower have seen in the past three years.
“For huge investments such as this one, if they get suspended for two or three months, that doesn’t matter. But delays should not last more than a year,” Tek Reth Samrach said.
“On the government side, we already offered them the land for the development. We hope they can seek a new partner and start soon.”
The airport design has been submitted to Cambodian officials, the Post reported in March.
The government granted NSRIA a 500 hectare land concession in 2010. The site is 60 kilometres from the city of Siem Reap.
In March, NSRIA chief executive Lee Tae-hwan was sentenced to seven years in prison for involvement with fraudulent loans at Busan Savings Bank.
The scandal, which shook Korean financers and investors in mid-2011, put the brakes on Camko City, a $2 billion satellite city project in Phnom Penh.
Much speculation also surrounds the future of Gold Tower, a Korean investment in the centre of the capital, which has been a more than 30-storey stack of concrete and rebar since 2010.
Investors Yon Woo have routinely declined to comment on their plans for the project and government officials in the Ministry of Land management, Urban Planning and Constructionhave said they are unaware of the company’s plans.
A bigger airport would be needed to cater to the seven million annual tourists the Cambodian government hopes to receive by 2020, Ang Kim Eang, president of the Cambodian Association of Travel Agents, said yesterday.
Phnom Penh International Airport has a maximum capacity of three million passengers per year, he said.
“If we look at the target of the Ministry of Tourism, of course we need an airport with a big capacity so that we can attract more tourists to come to the country. We could welcome long-haul flights from the United States, Europe, Australia and so on,” Ang Kim Eang said.
Bangkok’s Suvarnabhumi Airport can receive 40 million tourists a year and Vietnam is now expanding its capacity to 15 million passengers, he added.
To contact the reporter on this story: May Kunmakara atkunmakara.may@phnompenhpost.com
Original post: http://www.phnompenhpost.com/index.php/2012060656613/Business/siem-reaps-us1bn-airport-delayed.html
αាαាα្αែα
αៀααាαៈ αែααាααាααα់α្ααាααα្αα ោះα’α្αααាαិαៀααាα (NSRIA) αα្αៃα‘αាα់αាααុα្αាαα្αូααα្αាααេα αិαα្αាααាαααិα
្αេαα
្αាα់αាα់αα្αាα់αα្αោααេះαោααាαα្αុαα ៊ុα α’αិαα្αα៍αំαុααα្αឹααααើααៃαូα្αី។
αាααα្αោααាααុαα្αឹះαាααα់αឹαα្αូαα្αើαៅαែα§ααា α៉ុα្αែα្αូααាααα្αាα αោαα្αាααាααំαα់αេααាαឹαα្αូαα
ាα់α្αើααេααាα
្αាα់αាα់ αោះαេ។
αោα αឹα α៉េααំαេα
α្ααាαααៈαα្αាαិαាααាααα្ααាααα្αα ោះαេះαាαα²្ααឹααាααី α្αិααិααា α្ααាααα្αα ោះα’α្αααាαិαៀααាα αាαាααα្αាα់αុαα្αើα្αាααាα Camco Airport Co Ltd αិα Lees A&A αៅαិαα’ាα
α
ាα់α្αើααាααាααα់αα្αោααំαេះαាααៅα‘ើααេ។
α្αុαα ៊ុααូα៉េαាំααីα αែααាααួααឿαα’ាα្αូααាααីα្αាំαុα αៅαូα៉េαាαα្αូα αំαុααុះαាααើαα្αោαα្ααាααα្αα ោះα៏αំαាααេαៅαα្αុαាαួα αេះ។ αេះαើαោααាααោα αឹα α៉េααំαេα
។
NSRIA αាαααិαេααូααំαឹααាα្αូααាααα់αα្αាαិαាααα្αុαា α’ំαីαα្αោαααα់α្αួα។ α្ααាαα្αីαេះα្αូααេαα្αឹααាαាαααα្ααាαα’ាα
ααួαα’្αααំαើα αាαα‘α₯αាααាα់ α្αុααួαα្αាំ។ αោααាααើαα‘ើααា៖ «αើααាααα្αូααិαិααាααីαើααែαេαា α៉ុα្αែαួααេαិααាαα្αើααααាα្αូααាαα‘ើα αោαα្αាα់αែαិαាααា α្αុαα ៊ុα αំαុαα្ααααឹααα្α ាα្αៃα្αុααួαα
ំαួα។ αួααេαំαុαα្αែααααៃαូα្αី»αα្αាαិαាα αាαα្αα់α័α៌αាααα្α’ិααិααាαα
្αាα់αាα់ αាα់αααឹαα្αាααាαααα់α្αុαα ៊ុα។
αោα αឹα α៉េααំαេα
αាαα²្ααឹααា αោααិααាααឹααាαើα្αុαα ៊ុααួααាα្αុαα
ំαោααាំααីα αំαុαα្αែααααៃαូα្αី α¬ α’ាα
αាαα្αុαα ៊ុααួα αឹαα្αូαααα្αួααោះα‘ើα។
αាααីαែαីαា αើαα្αាំαេះα្αំαេα α៉ុα្αិ៍ αាαα្αើαេα
α្αីαាααាαα៍αា αាααាααα់αេះ α្αូααាααេαំαឹααាαឹαα្αើα‘ើαα៉ាααាα់αំαុααៅαែαេαា។
αៅαេααោះ ααៈαα្αាαិαាααាαα αាααα្α ាααំαុαα
ិα្ααើααα្ααាαααα់α្αុαα ៊ុα α្αុααាαα
ាα់α្αើααα្αោααាα់αេααេαា αោះαីαាαៃαូαំαាα់ααα់αូα៉េ αាααាα់αα្ααាαាααៅα្αុαα្ααេαααα់α្αួαα៏αោα។
αិαα’ាα
αាα់ααα្αុαα ៊ុα Camco Airport Co Ltd αិα Lees A&A αាααេ αាααីα្αិααិα។
NSRIA αិααាαα្ααាαα’ំαីαα្αោαα្αី α្αុααាααុαα្αឹះαៅα្αាំαេះα‘ើα αែαα្αើα²្ααាααាαα្αួααាαα្ααាα់αααឹααាααα្αាααេααូα αូα
αα្αោααាំαូα៊ីαី αិα Gold Tower។
αោα αឹα α៉េααំαេα
αើαα‘ើααា៖ «αα្αាα់αα្αោααិαិαោααំααូα
αេះ αើα្α’ាα α’ αៅ α£αែ αោះαិααាααα្α ាα‘ើα α៉ុα្αែαាαα្α’ាααិααួααើααីαួαα្αាំα‘ើα ។ αាααាαីαα្αាαិαាα αើααាαα្αα់αីα²្ααួααេα’αិαα្α។ αើααα្αឹααា αេα’ាα
α្αែααααៃαូα្αីαាααាα់αិαα
ាα់α្αើαα្αុααេααាα់ααេះ »។
αាααα
αាα្αα់α្ααាααα្αα ោះαេះα្αូααាααα្αូααααាα់αα្α្αី αα្αុαាα ើα។ αេះαើαាααាααាααាαα៍ααα់α្αំαេα α៉ុα្αិ៍ αាααីαែαីαា។ αα្αាαិαាααាαα្αα់αីαα់ NSRIA α₯α α α ិααា αាααីα្αាំα’α α‘α αែααាαα
α្αាα α¦α αីα‘ូα៉ែα្ααីαីα្αុααៀααាα។
αាααីαែαីαា αោα Lee Tae-hwan α្ααាααាααα្ααិαα្αិ NSRIA α្αូααាα់αោαα²្ααាα់αុαα§α្αាំ αាα់α័α្ααឹααាααោααα្αំα្αាα់αα្α
ីαៅ Busan។ αឿαα’ាα្αូααែαα្αើα²្ααα្αα់αα់α’្ααα ិαα្ααα្αុ αិααិαិαោαិααូα៉េ αាααα្α’ាα់αាααាααα់αα្αោααេααូα៊ីαី αាαីα្αុααααα្αំαេα αែαα
ំαាαα’α់α្αាα់α’αាα់αាααុα្αាα។
αោα α’ាα αឹαα’ៀα α្ααាαααាααα្αាα់αាααេαα
αα៍αα្αុαា αាαα²្ααឹα αាααីα្αិααិααា α្ααាαα៏αំαេះαឹαα’ាα
αាំααα្αៀααេαα
αα§αាααាα់α្αុααួαα្αាំααααα្αុαា α ើααα្αាαិαាααα្αឹααាαឹαααួααាαα
ំαួααេះαៅα្αឹαα្αាំα’α α’α ។ αោααα្ααា α្ααាααα្αα ោះα’α្αααាαិα្αំαេα αាαααα្ααាαα’ាα
α្αុαα’្αααំαើααាαα£αាααាα់ α្αុααួαα្αាំ។
αោααα្ααា៖ «αើαើααα្αឹααើααោααៅααα់α្ααួα αើαα្αូααាαα្ααាααα្αα ោះαែααាαααα្ααាαα’ាα
α្αុαα’្αααំαើααាα α
្αើα αូα
្αេះαើαα’ាα
αាα់αាαα្αៀααេαα
ααាααាα់αែα
្αើα។ αើαα’ាα
α្αាααα៍αាαα ោះα ើαα្αូαα្αាααីα’ាαេαិα α’ឺα៉ុα α’ូα្α្αាαី។α។»
αោααα្αែααា α្ααាααα្αα ោះαុαα្ααូαិαៅαាαααα’ាα
ααួαα្αៀααាαα€α αាααាα់ α្αុααួαα្αាំ α ើααៀααាα αំαុααα្αីαααα្ααាαα្αួα αα ូααα់α‘α₯αាααាα់α្αុααួαα្αាំ៕ CS
English
No ground was broken in May on the New Siem Reap International Airport (NSRIA), a US$1 billion Korean investment, and officials say no definite date has been set for work on the project as the developer looks for new partners.
NSRIA Co Ltd, an equal joint venture by Camco Airport Co Ltd and Lees A&A, would not begin construction on the mega-project, for which a ground-breaking ceremony had been scheduled in May, Tek Reth Samrach, chairman of the airport steering committee, said yesterday.
The two companies, which last year were embroiled in a fraud scandal in Korea, were struggling with the project that would be the largest airport in Cambodia if completed, according to Tek Reth Samrach.
NSRIA has declined to formally notify the Cambodian government of its plans for the project, which was hoped to have a capacity of as many as 15 million passengers a year.
“We sent them a letter in early April but they replied unofficially, saying the company is facing some internal problems,” he said. “They are seeking a new partner now.”
The government has largely been left in the dark regarding details on the nature of the company’s ailments.
Tek Reth Samrach said he didn’t know which of the two companies would be seeking a new partner, or if one of the companies would be pulling out of the project.
Construction was expected as early as April, the Post reported in March.
At the time, the airport steering committee expressed confidence in the Korean company’s ability to see a timely start to the project despite a key Korean player being jailed in his home country.
Attempts to reach Camco Airport Co Ltd and Lees A&A yesterday were unsuccessful.
The companies yesterday appeared not to have websites.
NSRIA has yet to announce any new plans for groundbreaking this year, stoking some worry on possible long-term delays, the likes of which other Korean projects such as Camko City and Gold Tower have seen in the past three years.
“For huge investments such as this one, if they get suspended for two or three months, that doesn’t matter. But delays should not last more than a year,” Tek Reth Samrach said.
“On the government side, we already offered them the land for the development. We hope they can seek a new partner and start soon.”
The airport design has been submitted to Cambodian officials, the Post reported in March.
The government granted NSRIA a 500 hectare land concession in 2010. The site is 60 kilometres from the city of Siem Reap.
In March, NSRIA chief executive Lee Tae-hwan was sentenced to seven years in prison for involvement with fraudulent loans at Busan Savings Bank.
The scandal, which shook Korean financers and investors in mid-2011, put the brakes on Camko City, a $2 billion satellite city project in Phnom Penh.
Much speculation also surrounds the future of Gold Tower, a Korean investment in the centre of the capital, which has been a more than 30-storey stack of concrete and rebar since 2010.
Investors Yon Woo have routinely declined to comment on their plans for the project and government officials in the Ministry of Land management, Urban Planning and Constructionhave said they are unaware of the company’s plans.
A bigger airport would be needed to cater to the seven million annual tourists the Cambodian government hopes to receive by 2020, Ang Kim Eang, president of the Cambodian Association of Travel Agents, said yesterday.
Phnom Penh International Airport has a maximum capacity of three million passengers per year, he said.
“If we look at the target of the Ministry of Tourism, of course we need an airport with a big capacity so that we can attract more tourists to come to the country. We could welcome long-haul flights from the United States, Europe, Australia and so on,” Ang Kim Eang said.
Bangkok’s Suvarnabhumi Airport can receive 40 million tourists a year and Vietnam is now expanding its capacity to 15 million passengers, he added.
To contact the reporter on this story: May Kunmakara atkunmakara.may@phnompenhpost.com
Original post: http://www.phnompenhpost.com/index.php/2012060656613/Business/siem-reaps-us1bn-airport-delayed.html
Monday, June 4, 2012
Retail space to triple: report
Monday, 04 June 2012 Don Weinland
The supply of shopping centre space in Phnom Penh is set to triple in the next five years, according to a CBRE Cambodia report, and one insider said the jump in higher-end retail venues would come even sooner.
A Parkson Corporation Sdn Bhd shopping centre, one of two large-scale international retail developments in the country, would push that increase in retail supply.
If planned developments come to fruition, there could be as much as 312,000 square metres of retail venues in shopping centres by 2017, up from last month’s count of about 105,000 square metres, the CBRE report said.
Malaysia’s Parkson has started construction on a shopping centre in Phnom Penh, Sung Bonna, president of National Valuers Association of Cambodia, said yesterday, although he declined to give details on the project.
Japanese retail developer Aeon Co Ltd was also in the process of developing what would be one of the country’s largest retail shopping centres on the capital’s Sothearos Boulevard.
A lack of world-class brand management in Cambodian malls is driving the demand for internationally developed shopping projects, Knight Frank country manager Sunny Soo said yesterday.
“At malls here, you have two floors of people selling shoes – sometimes the same shoes. It’s not profitable for the retailer or the mall owners,” he said.
“Until today, the city doesn’t have first class shopping malls ... All the shopping malls here are suffering from bad leasing management.”
Shortfalls in funding have led to developers selling off retail space, which limits the control they have over brand placement, he said.
International developers such as Aeon and Parkson could alleviate layout problems that hinder sales and dissuade name brands from entering the country.
Increased spending power among urban Cambodians has continued to lure brands such as Mango and Axara into the Kingdom, Sovereign Retail Group told the Post in February.
Brand awareness – largely non-existent five years ago – has seen many working-class Cambodians opt for name-brand shirts and shoes rather than the imitations found in some traditional marketplaces, Sovereign’s Ly Souden said at the time.
Per capita gross domestic product was slightly higher than US$900 in 2011, according to the Ministry of Economy and Finance, a 70 per cent jump since 2006. Citing Economic Institute of Cambodia data, CBRE said that figure could rise to $1,000 next year. “This is one of the main reasons for more retail here: disposable income,” Soo said.
CBRE’s projected tripling of retail space could happen by 2015 if Aeon and Parkson projects, as well as other shopping centres such as Cambodia Plaza, are completed on time, Sung Bonna said.
Although CBRE reported a 78 per cent occupancy rate at current shopping centres, large-scale, international retail venues would bring with them a surge in name brands.
“People are starting to pick up name brands … but high quality brands don’t want to be in small buildings. They are waiting for the grade-A space,” Sung Bonna said.
The Aeon and Parkson projects would attract high-end brands, and name brands already in the country would most likely move to the new venues, he said.
The supply of shopping centre space in Phnom Penh is set to triple in the next five years, according to a CBRE Cambodia report, and one insider said the jump in higher-end retail venues would come even sooner.
A Parkson Corporation Sdn Bhd shopping centre, one of two large-scale international retail developments in the country, would push that increase in retail supply.
If planned developments come to fruition, there could be as much as 312,000 square metres of retail venues in shopping centres by 2017, up from last month’s count of about 105,000 square metres, the CBRE report said.
Malaysia’s Parkson has started construction on a shopping centre in Phnom Penh, Sung Bonna, president of National Valuers Association of Cambodia, said yesterday, although he declined to give details on the project.
Japanese retail developer Aeon Co Ltd was also in the process of developing what would be one of the country’s largest retail shopping centres on the capital’s Sothearos Boulevard.
A lack of world-class brand management in Cambodian malls is driving the demand for internationally developed shopping projects, Knight Frank country manager Sunny Soo said yesterday.
“At malls here, you have two floors of people selling shoes – sometimes the same shoes. It’s not profitable for the retailer or the mall owners,” he said.
“Until today, the city doesn’t have first class shopping malls ... All the shopping malls here are suffering from bad leasing management.”
Shortfalls in funding have led to developers selling off retail space, which limits the control they have over brand placement, he said.
International developers such as Aeon and Parkson could alleviate layout problems that hinder sales and dissuade name brands from entering the country.
Increased spending power among urban Cambodians has continued to lure brands such as Mango and Axara into the Kingdom, Sovereign Retail Group told the Post in February.
Brand awareness – largely non-existent five years ago – has seen many working-class Cambodians opt for name-brand shirts and shoes rather than the imitations found in some traditional marketplaces, Sovereign’s Ly Souden said at the time.
Per capita gross domestic product was slightly higher than US$900 in 2011, according to the Ministry of Economy and Finance, a 70 per cent jump since 2006. Citing Economic Institute of Cambodia data, CBRE said that figure could rise to $1,000 next year. “This is one of the main reasons for more retail here: disposable income,” Soo said.
CBRE’s projected tripling of retail space could happen by 2015 if Aeon and Parkson projects, as well as other shopping centres such as Cambodia Plaza, are completed on time, Sung Bonna said.
Although CBRE reported a 78 per cent occupancy rate at current shopping centres, large-scale, international retail venues would bring with them a surge in name brands.
“People are starting to pick up name brands … but high quality brands don’t want to be in small buildings. They are waiting for the grade-A space,” Sung Bonna said.
The Aeon and Parkson projects would attract high-end brands, and name brands already in the country would most likely move to the new venues, he said.
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