SSRG has recently announced the soft launch of Marum Estate in Cambodia. This pioneering project is perfectly timed to capitalize on the anticipated economic boost in the Kandal area, driven by the upcoming Techo Takhmao International Airport, set to commence operations in 2025.
Marum Estate seamlessly combines luxury living, healthcare, education, commerce, and aging-in-place living, enhancing the Kandal district's appeal and delivering a bright future for residents and businesses in this dynamically evolving region.
"The project is designed as a multidimensional, environmentally friendly urban area, including a shopping center, healthcare facilities, and schools, meeting all essential needs of residents," SSRG founder and group co-CEO Ng Aung San told the press. "Our commitment goes beyond providing commercial services to emphasize creating real value for the community through strong collaboration in healthcare and education".
Mr Ng Aung San and Ms Phebe Len, SSRG Founders and Group Co-CEOs
"With its beautiful landscape, convenient connectivity to other cities via beltways and avenues, and innovative architectural design, Marum Estate promises to become an ideal destination for both local residents and foreign investors. This project not only highlights its prime location, potential for appreciation, and connectivity but also emphasizes sustainability and long-term value for residents", San added.
SSRG's goal is to provide a high-quality, amenity-rich living experience, enhancing the quality of life for residents while offering attractive investment value for investors and contributing to new real estate trends in Southeast Asia.
Phebe Len, the SSRG founder and group co-CEO, anticipates market conditions to continue improving in 2024. However, with the economy not showing signs of full recovery, buyers tend to choose properties with stable, reasonable prices while still providing the necessary amenities. For instance, Marum Estate's average price of around $300,000 is considered suitable, given the commercial, entertainment, healthcare, and educational services, along with the long-term sustainable values it offers.
The trend of branded residences is increasingly popular in the Asia-Pacific real estate market. In recent years, this trend has garnered strong interest from buyers due to the diverse amenities and the credibility of renowned brands. According to Knight Frank's 2023 Branded Residences report, over one-third of international property buyers (39%) are willing to pay extra for a reputable branded residential community. In Asia, this figure significantly rises to 43%. Beyond trust, the main drivers of this trend include premium services and rich amenities, encompassing personalized services, entertainment malls, fine dining, etc. The high potential returns of projects, coupled with efficient asset management and maintenance, also contribute to this trend.
Currently, trends in Southeast Asia, especially in the middle to upper-middle and luxury real estate markets, emphasize the importance of connectivity. Many home buyers and users, influenced by the pandemic's shift towards remote work, prioritize strong broadband and internet connectivity. In fact, statistics show that internet penetration in Southeast Asia is as high as 70% in most countries. In Marum Estate development, homeowners will have access to multiple internet service providers, reflecting a key trend in the real estate market.
Another trend is the focus on sustainability programs. Younger and newer buyers are interested in developments that offer mixed and integrated living amenities, creating a self-sustaining environment.
"Our approach is comprehensive, carefully considering what we offer our residents. An integrated lifestyle is a trend we're embracing in the real estate market, whether for the middle, upper-middle, or luxury segments", Len said.
