CBRE Cambodia was pleased to host the first international valuation conference last week (23rd November to the 26th).
Representatives from Vietnam, Hong Kong, Cambodia and Thailand came together at CBRE Cambodia’s office within Phnom Penh Tower. A proud moment for CBRE Cambodia, as it is now recognized there is a growing market for international standard valuations in Cambodia and the CBRE Cambodia team is at the forefront in providing these Valuation services. With one fully qualified member of RICS (MRICS) already heading up the valuation team, recent additions to the CBE Cambodia Team brings two more surveyors from England into the Valuation Team who are currently undertaking their RICS qualification in Cambodia. With the guiding experience of Country Manager, Mr Dan Parkes, CBRE Cambodia is now positioned to take a leading role in International standard Real Estate Valuations within Cambodia.
The three day event was hosted by Chairman Mr. David Simister and the Senior Managing Director of Valuation & Advisory Services for Hong Kong and Greater China, Mr Kam Hung. The joint experiences of Kam Hung and David Simister, who are both widely recognized as leading experts in the fields of Valuation and Real Estate, provided great insight and knowledge on Valuation in Asia and Valuation in emerging economies to the attending delegates.
The Conference was considered by all to be a huge success with delegates from across south-east Asia greatly benefiting from the experience.
CBRE Cambodia has seen an increase in activity across all real estate markets particularly transactional services. International standard Valuations are a key aspect in the negotiation of transaction prices and transactions themselves. Furthermore, the CBRE Cambodia valuation service provides valuation reports which assist businesses secure finance from institutions, where it is a pre-requisite for lending institutions to possess reliable, trustworthy and professional valuations which accord to international standards. CBRE as the largest global real estate company in the world fulfills these standards and seeks to provide the highest quality Real Estate and Valuation service in Cambodia.
Additionally, with the Cambodian Stock Exchange set for launch next year, businesses looking to list on the exchange will require valuations for all major property assets. CBRE Cambodia feel these are exciting times for Cambodia’s property market and that international standards are beginning to be adopted and appreciated within the real estate market and wider markets in Cambodia.
The international conference held at the CBRE office helped promote the use of international standards within the Valuation profession. The Royal Institution of Chartered Surveyors (RICS), is the world’s leading professional body for qualifications and standards in land, property and construction and states: ‘As people, government and commercial organizations continue to demand more assurance of certified standards and ethics, attaining RICS status is the recognized mark of property professionalism.’ With RICS being such a globally recognized institutions and CBRE being such a globally recognized company, CBRE Cambodia brings international status to the valuations performed within Cambodia.
CBRE international valuation conference 2011’s winning valuation team with CBRE Indochina chairman David Simister and Hong Kong associate director Cam Hung.
(From left to right David Simister, Hien Ngugen (CBRE Ho Chi Minh), Oanh Ho (CBRE Ho Chi Minh), Cam Hung and Owen Williams (CBRE Cambodia).