by: Sotheary
Phnom Penh: After the Royal Government of Cambodia reopened the country and allowed foreign tourists to enter country without quarantine, real estate investment and various sectors have recovered continuously. Among sub-sectors in real estate sector, experts see the industrial and commercial sectors are expected to grow strongly in 2022.
Sorn Sieb, CEO of Key Real Estate, said recently that in 2022, the real estate sector may not be as strong as it was before Covid-19, but parts of the sector will recovery higher than in many other sectors, such as industry and commerce, and demand for land in both sectors will be higher next year.
“For Cambodian real estate sector may recover as before the situation of Covid-19 during the middle of 2023, while in 2022, it may continue to face the problem of Covid-19 because a new type of radiant Omicron in the city is constantly being discovered,” he continued.
He said that after the reopening of the country, the industrial factories start to revive, the demand for office space has resumed, and in 2022, the demand for both sectors will continue to rise and can be the strongest among the sub-sectors of real estate.
Mr. Long Kimsour, CEO of Century 21 Advance Property, said that he believes there will be more demand for housing development in 2022, while 2021 which is the year Cambodia suffered the most due to Covid-19, housing development is still stable, especially developers who understand the market.
“In 2022, if house owners do not develop to meet the current market demand, they will continue to face the same problems, but if the house owners understand the market demand, they will still be able to sell even in this crisis,” he said. “We see that housing sector in Cambodia continue to develop and sell well, while houses that do not have standards, do not have a market knowledge, still face problems,” he said.
Cheng Kheng, CEO of CPL Real Estate, said in Covid-19 crisis or other crisis, he will not focus on the crisis, but he will continue to work with optimism, so at the end of the crisis we can at least be prepared to continue our investment process forward.
