Oknha Nuon Rithy, CEO of Khmer Foundation Appraisal (KFA) talked over the phone with AMS and said, middle and lower middle-income earners should not invest in real estate in this circumstance because now is the time to be prepared if their case is accepted. Those who want to invest should not invest in the housing, but rather in the land to make a profit.

“If the income is below average, even paying off the house to make a profit in the future should not be okay now because it may affect their expenses,” he said. Investing in land can still be profitable because land prices have the potential to rise, and some areas are more profitable than others. For the purchase of some houses, the profit from the land is more important than the profit from the house, but some land prices rise, there are high odds, and Heng Chheng rises slowly in some areas.

“We can say that it is a good opportunity for those who have enough capital and can buy real estate, both houses, and land, and can choose a good location that can be collected as much as possible.” In this situation, however, the wealthy can purchase real estate reasonably.

Oknha Nuon Rithy, on the other hand, reminded us that not all investments in the real estate sector could be profitable for everyone. Even those with sufficient capital are not certain that they can make a profit without extensive knowledge and experience in the real estate sector. As a result, before making an investment decision, it must be carefully considered and researched in order to avoid losses.

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Oknha Nuon Rithy, CEO of Khmer Appraisal Foundation (KFA), an investor and developer in the residential construction sector, spoke with AMS and stated that as the population grows, so do investment projects and new development projects in Phnom Penh city.

Oknha Nuon Rithy, CEO of Khmer Appraisal Foundation (KFA), an investor and developer in the residential construction sector, spoke with AMS and stated that as the population grows, so do investment projects and new development projects in Phnom Penh city.

While the Royal Government of Cambodia, led by Samdech Techo Hun Sen, has significantly reduced the budget to prevent problems, support economic growth, and promote infrastructure development throughout the country, proud results have been successful.”

“Three years ago, investment and development areas around the city were popular, about 25 to 30 kilometers from Phnom Penh, but this changed at the end of 2021, especially at the beginning of 2022, after the Covid crisis is alleviated. Vaccination across Cambodia, the demand for land for development projects will continue to expand to approximately 50 to 60 km as a new investment as well the development “He continued.

Oknha Nuon Rithy, a well-known and successful real estate expert in Cambodia, confirmed that Phnom Penh surrounding areas is going to be developed next year. The development projects in various directions, such as north and east for high and medium-density housing development projects, west and south for industrial and housing development projects in the middle and western areas. East is the high and medium-level housing development project and business center project.

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Prey Veng, a province that is not potential in the real estate sector, is now beginning to gain significant momentum in land prices, particularly in developing urban and border areas.

Mao Monirotana, branch manager of Century 21 Zillion Holding in Prey Veng, recently told AMS over the phone that the province has historically had little potential for land or property market. Even though land prices are low, it hardly finds a buyer.

However, after the government developed the Cambodia-Vietnam border area and opened a border crossing between Cambodia and Vietnam in Prey Veng province, the province gained interest, causing land prices to skyrocket. He stated that opening the border crossing has resulted in numerous benefits for trade and transportation between Cambodia and Vietnam, increasing the value of the land.

“In the future, we expect that the investment potential in Prey Veng will increase, as will the price of land in this province so that real estate investors can buy land in Prey Veng to profit in the future,” he added.

Oknha Nuon Rithy, Chairman and CEO of Khmer Appraisal Foundation (KFA), mentions that the investment potential in Prey Veng will increase once the Royal Government begins construction on the Phnom Penh-Bavet Expressway.

This mega project offers Prey Veng is closer to Phnom Penh, making it convenient to transport goods to the border. As a result, the area along the Phnom Penh-Bavet Expressway will be becoming a dry port and warehouse.

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There were 81 housing projects and housing units in the form of Borey, equivalent to 27,271 floors, according to the report on land management, urban planning, and construction in the 2021 and 2022 plans. The cost of constructing 5,408,623 square meters is estimated to be $ 1,893,017,995 (more than $ 1.8 billion).

According to the report, the apartment building has 31,985 flats/houses with a floor area of 6,617,594 square meters and an estimated investment cost of more than 2.3 billion dollars. Borey housing and apartment buildings will receive a total investment of $4.1 billion in 2021.

Oknha Nuon Rithy, Chairman of the Board of Directors of KFA Group, a company that develops affordable modern housing, told AMS:

“Despite the disruption caused by the epidemic crisis for more than a year, our expectations for the housing market remain positive.” KFA construction activities in Borey Kien Svay Park are still going well, and there are no roadblocks. It is now an opportunity at the beginning of 2022. Our construction site is about to finish, which will gain a lot more market share.”

With the above expectations, Oknha Nuon Rithy also stated that by 2022, almost all people in the country would have been vaccinated against the disease, increasing business morale and confidence. Local investors plan to increase activity and earn more opportunities than last year. It has become a good sign for the real estate sector, particularly the country’s housing sector.

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Oknha Nuon Rithy, CEO of Khmer Appraisal Foundation (KFA), told AMS about the situation of Covid-19 in the past and now, some investors and developers have gained a lot of experience related to the opportunities and risks ahead.

The tycoon said: “So far, KFA has taken advantage of the risks associated with the Covid-19 era in the following ways: First, we have taken advantage of real estate and can sell it convenience. Second, in terms of procurement, we have taken advantage of the opportunity to purchase real estate in many desirable locations at a lower price than the market. Third, we can order raw materials at a lower cost.

Oknha stated that providing services during times of crisis is also an opportunity unless it is stagnant or the emergence of a new era due to a political crisis or war. However, it is an opportunity for service providers during the Covid period, and almost no service provider has a problem, only an opportunity to grow.

Oknha Nuon Rithy also stated that foreign market expectations were too high when the era arrived, and foreign investors did not come hindered. However, the problem is less severe for business-minded individuals (services and real estate are not overly reliant on foreign capital). The local real estate market is still active in demand and supply.

“It is a problem for investors who expect too much influx from outside,” he added. “From today, investors must think about two things, both foreign and domestic, because otherwise, we will face problems like tourism in Siem Reap, which relies on foreign visitors when there are no visitors.”

Regarding the outlook for the local real estate market, tycoon Nuon Rithy predicts a better recovery as the number of vaccinated people from a young age increases by the end of 2021. More people aged 12 and up than in any other country in the region.

As a result, the rate of Covid infection will be lower, as will the risk of relapse. As a result, the land and real estate sector will begin with confident, because this sector is critical to the country’s development.

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