A recent publication in the Phnom Penh Post (14th October 2011) has drawn attention to what Tom Brennan (of the Phnom Penh Post) describes as ‘the biggest property deal in half a decade’ within Cambodia and that the deal will almost certainly exceed Hong Kong Land’s recent property investment in which a number of land and property assets in Siem Reap and Phnom Penh were purchased from the ailing JSM Indochina.
Brennan quoting ‘multiple outside sources’ writes that ‘this new deal is supposed to be worth nearly US$100 million’ and that land exists in southeast Phnom Penh and the ‘Development of the land will result in a landmark shopping centre for the capital city’.
When asking, ‘Will the bet pay off?’ Brennan cites the words of Daniel Parkes (Country Manager, CBRE Cambodia) who was speaking on a separate matter as a member of an expert panel at the IBC Conference. Daniel Parkes commented that, Cambodia presently has no international-standard retail space and that the country continues to show healthy GDP figures although they have fallen below the double-digit level of 2007.
CBRE Cambodia research many facets of the Cambodian Property Market including retail, retail centres and property investment and are market leaders in the Cambodian Real Estate industry.