Established in 1805 and based in the United Kingdom, Chestertons is one of the oldest estate agent firms globally and has continued in profound success with its affiliates in multiple destinations across the globe. Chestertons has considered Cambodia a “key, fast-growing” market amid its expansion plan in Asia. The brand forays into Cambodia will help improve the standard of property management in the Kingdom to ensure trust and excellent service for investors.
Chestertons, a global real estate agency based in the United Kingdom, officially launches its office in Cambodia today. The brand presence will respond 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., Lt. 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., Ltd is a part of Zillennium Co., Ltd (Z1 Group), one of the largest real estate marketplaces in Cambodia. Zillennium Co., Ltd 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, Mr Kuek Narin has said that the growth of the construction and real estate sector (condo, office building, shopping mall) 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. That’s when Chestertons Cambodia comes in. The company will help to improve the standard of property management in the local market.
He said, “our vision is very far-sighted 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.”
Having access to reputable and international standardized property management services, according to real estate insiders, property owners will take advantage of such a well-recognized firm – adding value to their properties, making it easy to sell and even for leasing.
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 meters in 2021. Their combined value was a whopping $5.3 billion, down from $7.7 billion recorded in 2020.
This has reflected that real estate remains one of the top industries in the country which has the potential to attract high foreign direct investment ─ providing opportunities and accessibility for both local and international investors, and the people working in this field.