Cambodia Hosts First Real Estate Expo 2008

By BUTH REAKSMEY KONGKEA

Cambodia will host Her first Real Estate Exposition over two days from 21st to 23rd November 2008. Ly Sok, Chairman of the Whale Group, a company that organizes events such as these said the expo would take place in Phnom Penh.

Sok, a business leader, strategist and entrepreneur, with experience in marketing and logistics, said the Whale Group will be supported by the Ministry of Commerce, the Ministry of Economy and Finance, the Ministry of Land Management, Urban Planning and Construction and the Cambodian Federation of Employers and Business Associations.

The Chairman said that about 30 national and international companies form Korea, Malaysia and Singapore will take part in the exposition. Local exhibitors include Grand Phnom Penh International City, CamKO City, and Koh Pich, 7NG, IFC, Golden Tower 42, De Cassetle, Pharos Mekong, and Phnom Penh City Towers, 43 Apartment Developers and a further 9 Borey Developers in Cambodia.

“The Exposition which is a brand owned by Whale Event Management, is a new event that responds to the demand of real estate development,” he said. “It will become an annual exhibition, bringing together city developers, investors, governments, architects, designers, professionals and consumers involved in the real estate industry in Cambodia.”

“It is a new and relevant response to current property development trends in Cambodia,” said the Chairman when speaking to the Cambodia Weekly during a telephone interview. He added, “It really is a “must see” event for all involved in the real estate industry.”

He continued, “The main objective of the Real Estate Expo 2008 is to encourage and support growth in the residential and property markets nationwide. It is a place where leading developers, architects and relevant authorities can meet and get a better understanding of their common interests. They will find prospective partners to enhance and extend their businesses – it all promises to be a networking extravaganza”.

Chantrea L. Tra, the Sales and Marketing Manger for Whale Group, said the exhibitions will also have a major impact on local and foreign economies with increased spending predicted for local hotels, restaurants and transport. Overall, the profile of the city will be raised in the eyes of the world.

The Sales and Marketing Manager said that the exhibitions are a focus point for investment and will attract a broad cross-section of representatives from national and international real estate companies, trade associations and the media.

He continued that it is an opportunity to present the latest developments in the world of real estate to customers in a relaxed yet businesslike environment.

Around 40,000 local and foreign visitors will attend the Real Estate Expo 2008, according to the company’s estimates. The exhibition will make an early start at eight in the morning and continue until 9 pm. Entry is free for all.

Cham Prasidh, Senior Minister and Minister of Commerce said his government is in full agreement with the aims of the Whale Group’s Real Estate Exposition because the exhibition will be able to help in promoting investment in Cambodia.

The Minister pointed out that as a prime investment target in South East Asia, Cambodia has many advantages including a mature agricultural industry, a developing agro-industrial sector, a functional processing industry, a wealth of tourist attractions, as well as mineral wealth.

“Cambodian competitive advantages include favorable conditions in terms of land, weather, natural resources, low-cost and a hard working labor force, historical heritage and beautiful scenery,” the Minister told the Cambodia Weekly by telephone.

According to a report of the Ministry of Commerce, there is strong demand for commercial, residential and hotel construction; this has been the case since 2005 and remains the case today.