By APD writer Kin Ratha

PENOM PENH, Dec. 4 (APD) -- An American-franchised Century 21 Cambodia with its 21 offices as family from abroad are pledging to attract more investment from foreign countries in the region and the globe inject into the very vibrant and un-tapped potential in property market in Cambodia.

They are from America Century 21 LLC HQ office, Century 21 SGR from Chicago, Century 21 Taiwan, Century 21 Japan, Century 21 South Korea, Century 21 Singapore and Hong Kong.

Kuy Vat, Chairman of Century 21 Cambodia said that this cooperation is very important which can expand the promotion of potential construction sector and Cambodian real estates to the world and it is also the expansion of market and opportunity for member of Century 21 Family to international market.

“In order to expand the market promotion to abroad, the Century 21 Agents have to go through this work system, so they can work with other Century 21 agents in an international level.

Grace Rachny Fong, CEO Of Century 21 Cambodia, said the construction industry is considered as one of the Cambodian economic pillars as evidenced by changing Cambodian skyline now with high-rise skyscrapers, the construction of satellites cities, condominiums, borey townships, shopping malls, commercial office blocks and high-end villas.

“In addition the government has guaranteed non-nationalization of investment and the ease of repatriation of capital and profits.

“This has attracted more and more foreign investments including the property development sector from Japan, Singapore, Malaysia, China, Korea and other countries to invest in Cambodia,” Mrs Grace said.

As most investments are in cities like Phnom Penh, Sihanoukville, Kep, kampot and Siem Reap, more and more people are migrating from the rural areas into these cities to look for job and business opportunities, creating the demand for residential and commercial properties, according to Mrs Grace.

The construction investment capital was about $4.9 billion in the first ten months of 2018, according to the figure from the Ministry of Land Management, Urban Planning and Construction. The construction investment capital was worth about $5.09 billion, up 68 percent, compared to 2015 and the investment was worth about $6.2 billion, 21.84 percent increased, compared to 2016.

(ASIA PACIFIC DAILY)