Cambodia Real Estate Expo 2019 generates US$10 million

Cambodia Real Estate Expo 2019 generates US$10 million
Phnom Penh: The two-day Home & Lifestyle Expo 2019 was held at Diamond Island Conference and Exhibition Center for buying and selling property.l. Tom O'Sullivan, Executive Director of Realestate.com.kh, an organizer of event said that it was the most successful, with more than 20,000 visitors while half of them were local, and others were Chinese along with other international tourists. "The two-day Home & Lifestyle Expo 2019 will be about US$10 million,” he added. He also admitted that the sale of ARATA Garden Residences, developed by Creed Group, also attracted a lot of attention. And ARATA has sold 12 units, with an average price of less than US$100,000 per unit. Moreover, Top International Agent signed for sale agreement of 8 units at the expo, with total value over US$ 60,000. The Worldbridge Homes project also received considerable attention during the exhibition which 9 units of US$250,000 are sold. Pointer Property agents sold 4 units, which worth about US$ 70,000 per unit, and 7 Residence project sold 1 unit, which value US$ 500,000. Chek Soknim, President of Cambodian Valuers and Estate Agents Association, told KHB Media via phone that the expo is a product display and a short sale market between sellers and buyers. He continued that in free market, there must be a competition, but we have to strengthen our quality and provide consumers premium services or benefits. “In general, when many residential developers get involved in expo, the buyers also have a lot of options. The Cambodia’s property market must be strong because there is no major obstacle for the sector” he stated. According to Realestate.com.kh data shows that the Cambodian Residential Expo 2019, which was organized between 26 -27 April 2019 at Koh Pich, had more than 20,000 visitors. The Expo 2019 was hosted by Realestate.com.kh, the # 1 real estate advertising website in Cambodia. At the event, 100 local and foreign real estate companies participate in the exhibition of development projects including Borey Development Projects, Condominium Projects, Land Lot Projects, Property Agencies, Law Firms, Bank, Construction and Architecture Companies.
Author Name:: Smeyrith