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CBRE secures $33.7m deal

CB Richard Ellis Cambodia has sold a portfolio of assets in Cambodia on behalf of JSM Indochina to Hong Kong Land. The assets consist of an operating serviced apartment of 103 rooms in the financial district of Phnom Penh, a land plot of 10,700sq.m next to the US Embassy suitable for office, residential and retail development and a prime riverfront site of 1,625sq.m suitable for a hotel. There is also a land plot of 31,000sq.m in Siem Reap next to Raffles Hotel and the Royal Gardens. The transaction of $33.7m is the largest property transaction in Cambodia and the first internationally marketed transaction ever. This is the first major acquisition by an international investor which is a sign of the increasing confidence that Cambodia is achieving.

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