Century 21 chair sets aim high for Kingdom’s property market

Cambodia’s real estate sector is set to bounce back at a blistering pace after this year’s Covid-19 slowdown in growth, according to newly-appointed Century 21 Cambodia chairman Richard W Davidson.

Davidson, a 30-year real estate veteran and industry thought leader, spent more than 10 years working as president and CEO of US-based global iconic brand and franchisor Century 21 Real Estate LLC, which operates in more than 84 countries and territories around the world.The previous holder of the position was Kuy Vat, who is also the owner of VTrust Group Co Ltd and the master franchiser for Century 21 Cambodia.

Cambodia’s investment climate is earning the trust of international investors, and as a result, they see opportunity here in the fast-growing economy.

Construction project approvals are still on the rise this year and almost all mega-project constructions are progressing actively.

It should be noted that, even during the period, our Century 21 Cambodia offices still received a lot of enquiries from clients that seek opportunities to invest in Cambodia. They have the capital and see Cambodia as a place to generate profit from real estate businesses and are ready to inject funds into the Cambodian market.

So, five years from now, Phnom Penh will be more developed with more high-rises, and many potential provinces will boast additional development projects such as holiday-villa homes, resorts and many other such projects.

Land prices in some major provinces are set to see a two- or three-fold increase within the next five years.