California-based real estate firm Century 21 enters the emerging Cambodian property market with today’s formal opening of its local operations in the country.

“We have been preparing to enter the market for more than a year and our Century 21 agents either locally or from the Asia-Pacific region are already doing heavy amounts of transactions in Cambodia,” Kevin Goos, CEO of Century 21 Cambodia, told Cambodia Daily.

According to Goos, the local franchise of Century 21 would concentrate on foreign buyers, especially on selling new condominiums, to avoid competing with local agencies.

“Cambodia is one of the most attractive markets to purchase a condominium either as an investment or as a vacation home,” he commented.

The new company, which held a soft launch back in 24 July at the Sofitel Phnom Penn hotel, has named Kuy Vat, CEO of VTrust Property, as chairman of the board.

“We elected Kuy Vat because of his transparency, his integrity and the trust he has built in the local market,” Goos was quoted in the Phnom Penh Post last June.

The company’s Cambodian real estate agents will undergo a one-year training programme similar to other Century 21 agencies and affiliates in 75 countries.

Founded in 1971, Century 21 is currently one of the biggest franchised real estate firms internationally, with some 7,100 affiliated offices around the world, including Thailand.

Image credit: The Phnom Penh Post

Source: Property-Report