TWO-major Century 21 Cambodia’s franchisees signed deals to expand their businesses, adding more branches to capture a larger share in Cambodia’s real estate market.
The deal was signed by Century 21 Cambodia’s top managements and two franchisees namely – Century 21 Mekong and Century 21 Advanced Property.
“We are delighted to welcome their offices, staff and customers to the Century 21 family; and this is definitely the right time to expand,” said Century 21 Cambodia’s executive director Grace Rachny Fong.
She added that the expansion of Century 21 Cambodia’s franchisees business has reflected a strong growth in the domestic real estate business and the Century 21 Cambodia’s brand confidence.
“We have gained a larger market share, and we are hoping to capture even greater this year,” Rachny Fong emphasized.
The expansion of the two companies, which are operated under the Century 21 brand seems to be in line with the optimism made by the Ministry of Economy and Finance (MEF), recently projecting the Kingdom’s real estate sector to bounce back this year.
According to MEF, the sector had experienced a decline at 4.9 per cent last year. However, it will enjoy a positive growth of around 2.7 per cent in 2021; and by 2024 the growth rate to see a strong increase at 6.6 per cent, respectively.
Chrek Soknim, Chief Executive Officer of Century 21 Mekong, said the deal enables Century 21 Mekong to open two more branches in Phnom Penh – one along with National Road Number 6 and another one is situated along the street 271.
“We foresee real estate sector as an engine to growing the Cambodia’s economy; and we strongly believe that it will continue to grow remarkably within the next three to five years,” said Soknim.
Chief Executive Officer at Century 21 Advanced Property’s Chanty Tivea, who signed the deal to add two more branches of Century 21 Advanced Property, said she believes in the positive growth of real estate business for the long term.
“Our purpose is to expand our network and our services in response to the growing demand from our customers,” she said, adding that “our expansion is not finished. We put our effort to ramp up our network and market share, while keeping to upgrading our service quality to build trust among our clients.”
Cambodia is the 75th official country for CENTURY 21®, operating under Century 21 Cambodia. The firm is operating with 23 branches network in Phnom Penh and 38 branches, employing nearly 700 real estate agents across the country.