Chestertons, a global real estate agency based in the United Kingdom, officially launched its office in Cambodia, responding to the growing demand in residential and commercial building management as the sector has mushroomed in recent years.
The 217-year-old agency has added to its 100-strong network of international branches with the acquisition of Phnom Penh-based Focus Property Co. Chestertons Cambodia will provide various property management services — including residential, commercial building, and facilities management. Other services such as hospitality and asset management will be added to the list in the upcoming year.
Focus Property Co is a part of Zillennium Co, one of the largest real estate marketplaces in Cambodia. The Zillennium Co was founded in 2018 by a young and energetic team with over 90-year cumulative experience in real estate and business management.
Chairman of Chestertons Cambodia, Kuek Narin, has said that the growth of the construction and real estate sector -condo, office building, and shopping malls has resulted in high demand for property management and despite the great service provided by a variety of companies in the country, there’s still a lack in some aspects.
The brand forays into Cambodia will help improve the standard of property management in the Kingdom to ensure trust and excellent service for investors.
“Our vision is very far-sighted to be in a position to operate the company in Cambodia’s market. And we assure to provide our service with the best that can be to property developers, building owners, unit owners, and tenants alike,” he said at the official launching ceremony.
According to an annual report from the Ministry of Land Management, Urban Planning and Construction, the ministry approved over 4,300 projects on 13 million square metres in 2021. Their combined value was a whopping $5.3 billion, down from $7.7 billion recorded in 2020.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
