Century 21 Aims to Increase Japanese Investment

Century 21 Aims to Increase Japanese Investment

KhmerTimes/Sum Manet

Thursday, 03 March 2016

Century 21 Cambodia is now working with Century 21 Fuji Housing Co. Ltd. to draw more Japanese investment into the domestic property. 

Century 21 Fuji Housing will promote Cambodian property at his six branches in Japan, said Hideyuki Nagamatsu, CEO of Fiji Group, which includes Fuji Housing Inc. and Century 21 Fuji Housing.

He said the low prices in Cambodia are an opportunity for Japanese investors to step into the market, adding that the presence of his company in Cambodia is providing a channel for Japanese investors to enter the property market.

During its two-year presence in the Kingdom, his company has attracted about 100 Japanese investors, he said, adding that he expects more to follow due to a boost in confidence from Japanese projects like AEON mall. 

Kuy Vat, chairman of Cambodia's Century 21’s board, said foreign investment was necessary to propel the domestic market and that close cooperation between the Cambodian and Japanese governments was increasing confidence in the domestic market.

 

“Our real-estate market is limited so we need more investors from outside to put their investment here and Japanese investors are one of the key players for Cambodia to boost its property market,” Mr. Vat said.  “We see that the two governments are closely working together to strongly support Japanese investment in Cambodia,” he added. 

Recently government officials have encouraged Japanese investors to channel more funding into the country’s booming construction and property development market, with the Ministry of Land Management, Urban Planning and Construction rolling out the red carpet for them.

Pen Sophal, secretary of state at the ministry, told a seminar last month on strengthening cooperation for urban development, saying that his ministry “is ready to welcome all investment from Japan.”

Investment in the construction sector reached an all-time high last year of almost $3.5 billion, up about 40 percent from the $2.5 billion invested in the sector in 2014, according to data from the ministry. Mr. Sophal told that seminar that Japanese investment in construction had been rising steadily over the years. 

Japan imported products from Cambodia worth about $967 million last year – mostly garments and shoes – while it exported about $301.9 million worth of goods to Cambodia, according to figures from the Japan External Trade Organization.