Thailand Businesses are flocking into Cambodia with Cambodia Real Estate Market opening up
Cambodia has experience a good 7% GDP growth over the past few years. Moving forward, especially with the ASEAN Free Trade agreement this year, Cambodia’s GDP Growth will most likely continued to be as high as past years. Under current Prime Minister Hun Sen leadership, Cambodia also has enjoy peace and prosperity for almost 2 decades. With the strong GDP growth and a stable political environment, these has lure many Thailand Businesses back into Cambodia Market.
According to “Bangkok Post”, many Thailand companies like Siam Cement, CP Group, Bangkok Dusit Medical Services and Samart Corp has already established their presence in Cambodia. With the cost of operations in Thailand getting higher, more and more companies will be joining them in Cambodia.
The moving in of the Thailand companies are further encouraged with Cambodia Real estate Market opening up. Since the passing of legislation in April 2010, the foreign ownership property law allows foreigners to own property in Cambodia. Foreigners may acquire apartments above the ground floor to a maximum of 70% of any one apartment building, provided that the building has applied for and obtained ‘strata title’, which generally only applies to new construction. Hence, foreigners are 100% eligible to own a freehold condominium in Cambodia.
Some of the attractive luxury developments currently on sold in Cambodia Phnom Penh includes The Peak and The Bridge by Singapore Mainboard listed developer Oxley. These development will most likely attract those Thailand Businesses’ Owner to place their investment in.