Cambodia: Local real estate agency to tackle Laos market

Local real estate agency Khmer Foundation Appraisals is eyeing a regional expansion, starting with neighbouring Laos.

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Noun Rithy, chairman and CEO, told Khmer Times that he is proud to be part of the company’s first project in Laos.

Mr Rithy said KFA’s presence in Laos will facilitate communication between Cambodian and Laotian real estate actors.

“Our company will help raise the profile of Laos’ real estate sector and contribute to the country’s economy,” Mr Rithy said.

“Laos has an open investment policy, so opportunities in this market abound,” he said.

Mr Rithy said Laos is following in Cambodia’s footsteps and will soon become a more popular investment destination, especially as a result of China’s Belt & Road Initiative.

As part of the BRI, numerous infrastructure projects are in the pipeline for Laos, Mr Rithy said, including an industrial park and a railway line.

“We hope that our group will succeed as a real estate developer. We are also planning on building an SME multipurpose industrial and logistics park,” he said.

Khmer Foundation Appraisals (KFA) Co., Ltd was founded in 2015 and is one of the five largest real estate companies in Cambodia. Headquartered in Phnom Penh, it has a presence in four provinces.

It provides asset and property appraisals and consultancy services. The company also invests and develops real estate projects.