7th PropertyGuru Cambodia Property Awards gala set to stage as domestic real estate market grows resilient

Highly anticipated industry event of the Khmer real estate calendar to be held at renowned Sofitel Phnom Penh Phokeetra

  • Locals are driving the Cambodian property market as it adjusts to domestic tastes and demand, expert analysts say
  • Exclusive black-tie gala dinner to be held 26 August 2022 at the Sofitel Phnom Penh Phokeethra and streamed live via AsiaPropertyAwards.com and partner channels
  • Nominations and entries open to the general public until 8 July 2022

PHNOM PENH, Cambodia — 23 February 2022

Domestic consumer sentiment is on the rebound, driving real estate activity in Cambodia as the kingdom approaches recovery and vaccination rates soar across the land, according to analysts.

The good news comes as the annual PropertyGuru Cambodia Property Awards programme makes its highly anticipated return as an in-person, safely conducted, exclusive black-tie gala dinner and ceremony at the Sofitel Phnom Penh Phokeethra on Friday, 26 August.

Interest in real estate last year skewed heavily towards locals looking for quick sales and lucrative profits in the wake of the pandemic, analysts tell PropertyGuru Property Report, the official magazine of the Awards. As a result, the Cambodian market is poised to grow more maturely and sustainably, with developers lowering price points to a more affordable range and offering more customisable options in design and amenities, following Khmer tastes.

More: Local heroes liberate Phnom Penh’s condo sector through growing investments

“Locals are making up a much bigger portion of buyers at the moment,” Kim Kinkesa, senior research manager for CBRE Cambodia and an esteemed member of the PropertyGuru Cambodia Property Awards’ independent judging panel, told the magazine. “What we are seeing is some of the condos that were originally for Chinese are now being redesigned or changing the condition of the handover to attract more local buyers.”

Such optimistic sentiment has emboldened organisers of the PropertyGuru Cambodia Property Awards to seek the finest, most resilient developers and projects in the kingdom for the programme’s 2022 edition.

Key dates for the 2022 edition are:

  • 1 January 2022 – Entries Open
  • 8 July 2022 – Entries Close
  • 25 July-4 August 2022 – Site Inspections
  • 5 August 2022 – Final Judging
  • 26 August 2022 – Gala Dinner and Awards Ceremony in Phnom Penh
  • 9 December 2022 – Regional Grand Final Gala Event in Bangkok, Thailand

Nominations from the public and official entries from eligible companies and projects are currently being accepted here: AsiaPropertyAwards.com/nominations

Open categories include accolades for the best Developer, Development, and Design, along with Special Recognitions. This year, developers can compete in the all-new Best Coastal Residential Development category, shortlisting the finest condominiums, apartments, houses, and villas in the dynamic areas of Sihanoukville and Kampot.

The 7th PropertyGuru Cambodia Property Awards gala night will be held in accordance with health and safety protocols, including vaccination card checks, QR scans, temperature screens, hand sanitation access, safe distancing, and regular disinfection. The event will be livestreamed simultaneously on AsiaPropertyAwards.com/tv-podcast and the official channels on Facebook, LinkedIn, and YouTube.

Following footsteps

Recipients of the 7th PropertyGuru Cambodia Property Awards will be eligible to compete for the “Best in Asia” honours at the 17th PropertyGuru Asia Property Awards Grand Final to be hosted in Bangkok, Thailand on 9 December. Finalists will follow in the successful footsteps of Urbanland, which won last year the coveted title of Best Developer at the 6th PropertyGuru Cambodia Property Awards and represented the country in four categories at the 16th PropertyGuru Asia Property Awards Grand Final.

Sithen Kem, sales director of Urbanland, said: “We’re honoured to have won seven awards for our first landed home development, Chankiri Palm Creek, including Best Developer from the PropertyGuru Asia Property Awards. Our vision is to transform the way people live in Cambodia, one place, one community at a time and we are committed and motivated to continue raising the bar when it comes to exceptional quality, durability, and craftsmanship in our developments.”

More: Dedicated developers rise strong and proud at 6th PropertyGuru Cambodia Property Awards

Representatives of Urbanland attended the media roundtable officially launching the 2022 edition of the Awards in Cambodia on 23 February at the Phokeethra Sky Room of Sofitel Phnom Penh Phokeethra.

Speaking on behalf of the independent judging panel, Sorn Seap, executive vice-president for the Cambodian Valuers and Estate Agents Association (CVEA) and returning chairperson of the Cambodia Property Awards, shared a market update on the local real estate market, as well as a look into the timeline and categories of the awards season.

Paul Ashburn of HLB Real Estate Group, the Official Supervisor of the Awards, also joined via video message from Bangkok to present on the credibility, fairness, and transparency of the judging process. Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, lent his support to organisers of the media roundtable.

Exclusive awards reception

Following the media roundtable, recipients of the 6th PropertyGuru Cambodia Property Awards 2021 safely gathered on the same day at the exclusive reception for awardees at the renowned Sofitel Phnom Penh Phokeethra in the city’s old quarters.

Last year’s edition of the PropertyGuru Cambodia Property Awards marked the programme’s first virtual gala event, broadcast on AsiaPropertyAwards.com and multiple digital platforms, with highlights that aired on the History Channel. The country’s finest, most resilient developers and projects received prestigious titles across 19 categories, including the Cambodia Real Estate Personality of the Year award. It was presented to Catherine Chan, director of Goldfame Group and founder and executive director of Urban Village & Factory Phnom Penh—the first female recipient of the title.

More: PropertyGuru Asia Property Awards crowns first female Cambodia Real Estate Personality of the Year

In 2021, the PropertyGuru Asia Property Awards online gala series, which included the Awards in Cambodia last November, was viewed more than 437,000 times in just two months, reaching viewers and property investors worldwide.

Organised by PropertyGuru Group, the 7th PropertyGuru Cambodia Property Awards 2022 is supported by the industry’s leading brands, including official magazine PropertyGuru Property Report; official PR partner Two Way PR; and official supervisor HLB.

For more information, email [email protected] or visit the official website: AsiaPropertyAwards.com.