Capital ideas for developers

Peering out over the Tonle Sap River in Phnom Penh from a sixteenth-storey private balcony at the new Bellevue Apartments, one could watch for hours as cranes swing back in forth over all the new developments on the west side of the water. … “Phnom Penh has become very attractive for investors now and it is easy to open a business, unlike what many years ago. It’s a very different time,” said David Cordier, the sales and marketing manager for the 143-unit Bellevue. … In fact, Phnom Penh’s total apartment supply grew 22% to 2,576 units in total through the first half of 2012 compared to the same time in 2011, according to Asia Real Estate Cambodia. Of those units, 2,423 represent Grade’s A and B level units, while at least another 30 apartment projects are set to bring in another 734 units before 2014. … By comparison, vacancies in Bangkok’s more than 7,000 Grade A serviced apartment units are much higher, at 22.7%, while 16.8% of Ho Chi Minh’s nearly 1,000 Grade A serviced apartment units remain empty, according to data by the international property services firm CB Richard Ellis. …

http://www.bangkokpost.com/business/economics/332995/capital-ideas-for-developers