Property of the week

Thu, 16 February 2012 Yi Somphose Situated on one of the capital’s main roads Norodom Boulevard, Embassy Place apartment building offers one, two and three-bedroom apartments set over four storeys.{jathumbnail} ;The Western-style apartments are fully-furnished, with plenty of natural light and good ventilation. Included in the complex is an impressive swimming pool and a spacious garden, making it ideal for entertaining. The central location of the block means all necessary amenities, such as banks, supermarkets and restaurants, are a stones throw away. The one, two and three-bedroom units are on the market for US$2,050, $2,450 and $2,900 per month respectively. Read Original...

Talking innovative interior designing

Thu, 16 February 2012 Yi Somphose Stephane Dawant, CEO and designer of iChing Decor in Phnom Penh. Established in 2003, iChing Decor has risen to stellar heights in Cambodia’s interior design and furniture manufacturing game; leading the company’s ascent is CEO Stephane Dawant.Overseeing a team of ten, Dawant pins part of the company’s success on understanding what their private and commercial clients need. This might involve the innovation of single furniture items to large-scale building remodelling. Dawant’s background in civil engineering as well as his 16 year tenure as a Cambodian resident has held him in good stead to transform IChing Decor into a leading national player in Cambodia’s property sector. The majority of IChing’s clients are Cambodian which has helped the company to flourish despite the anaemic global economy causing property prices to fall, subsequently rendering some companies in the sector bankrupt. But with 10 large projects already lined up for 2012, the harsh financial reality for some companies is peripheral to IChing’s continuing success. This doesn’t mean IChing has room for complacency; Dawant admits he’s concerned about the growth of competitors in the market. Part of IChing’s business strategy involves not expanding the company or exporting its goods internationally. This might seem counterintuitive to other game-players, but IChing’s big boss is content meeting the demands of the growing local circle of interior design and property construction enthusiasts. In fact Dawant concedes that maintaining the company’s reputation for aligning the needs of their Cambodian clients with a quality finished product is their highest priority. Contributing to the stimulation on the Cambodian economy, IChing sources 80 per cent of...

Advertising in the sector sees gradual increase in 2011

Thu, 16 February 2012 Seun Son Construction and engineering advertising increased 19 per cent year-on-year in 2011, according to data from Indochina Research Ltd, making it the eighth most invested area in Cambodian advertising. Construction and engineering companies spent about US$3,894,000 on advertising in the Kingdom through 2011, while accommodation companies, such as hotel and commercial property firms, spent $3,181,000 in the same period. The amount spent on construction, engineering and accommodation advertising equated to 7 per cent of the total annual expenditure, the figures showed. The growth in advertising over the last 12 months is a result of the increasing number of developments which have resumed construction in the period, according Asean Real Estate Vice President Keuk Narin. While many companies have increased advertising campaigns, some projects are still struggling to sell units, he said. “Houses in some developments are facing poor sales records, while others succeed,” Keuk Narin said. “The difficulties in selling are due to location, price and quality.” He added that strong advertising campaigns don’t always translate into sales. Phnom Penh-based project Chey Chumnah Borey continued a strong advertising campaign in 2011, but sales remained sluggish, according to Marketing Manager Sok Channa. He highlighted the oversupply of housing developments in the capital as key factor behind Chey Chumnah Borey’s poor sales performance last year. “Along with all the advertising, we even offered discounts and five year instalment schemes,” he said. “Hopefully it will pick up in the next few years.” Sok Channa refused to disclose the company’s marketing budget. Some companies, however, said they had benefited from marketing in the media last year. “We attracted...

Thu, 16 February 2012 Liam Barnes A view of Young’s Commercial Centre in Chroy Changvar. Since the advent of Cambodia’s first shopping mall Sorya Shopping Center in 2002, numerous western-style retail complexes have emanated in Phnom Penh providing an alternative shopping destination to the capital’s traditional markets and roadside outlets. A Chroy Changvar-based mall is set to be the next major entrant into this expanding market, with the launch date slated for August, the project owner said this week.Young’s Commercial Centre, which is part of the Happiness City development being built on reclaimed swamp land about 100 metres east of the Cambodian-Japanese Friendship Bridge, will comprise approximately 500 units, said Managing Director and owner Ear Kim Keng. While the project has faced issues in recent years, construction is now 80 per cent complete, he said. “We were affected by the economic crisis like everybody else, but construction never stopped,” he said. The 30,000 square metre shopping mall, in addition to the retail units, will include leisure space. According to Ear Kim Keng, local entertainment service provider Happy Land Amusement Co has leased an entire floor – 5,224 square metres – on which it plans to open an entertainment complex, including the Kingdom’s second 3D cinema. He added that the project will also boast a state-of-the-art 2,300 square metre water park. “The shopping mall will be different from our competitors because we will have Cambodia’s best water park and other leisure facilities, which will attract both children and parents.” About 70 per cent of the of the development has already been rented by clients including KFC, Pizza Company and Swensen’s,...

Talking architecture with Cambodia’s youth

Thu, 9 February 2012 Yi Somphose Chan Sim, a locally renowned architect, exhibited some of his work and present the students Local architectural company Architecture House Group held a workshop on ‘The Concepts Towards Success’ last Thursday.Presented by group president Puth Supha, the aim of the workshop was to teach attendees about the history of Khmer architecture and the importance of valuing and reinventing Cambodian building designs rather than focusing Western or European styles. “I want to share my experiences and transfer my knowledge to the next generation of Cambodian architects, so that they are acutely aware of what Khmer architecture is and how it can be transferred to a modern setting,” said Puth Supha. The Phnom Penh-based firm wants to show the rest of the world how competent, advanced and aesthetic Cambodian building designs have become. The workshop was also attended by fellow industry experts and lecturers, who offered presentations. Chan Sim, a locally renowned architect, exhibited some of his work and gave the students studying techniques so that they may strive for a similar high standard when designing Cambodian buildings. Read Original...