Category Archives: Real Estate

$US10Mil in Deals, Referrals As Laos’ First Real Estate Expo Results Reviewed

The first-ever Laorealestate.la Expo was a huge success, with over 3000 local and international property investors welcomed to Don Chan Palace on the 1st & 2nd of March, 2019. Over the two days, the event generated over 10 million USD in property sales and finance referrals

Time flies! So do real estate investment, advertising, financing and development opportunities…

That’s clearly a philosophy what many folks ascribe to in Laos as some $US10 million in real estate-related deals and financing agreements were inked at the first Lao Real Estate Expo earlier in this month of March, according to organizers.

Lao Real Estate Expo 2019

Lao Real Estate Expo 2019

The promise of prosperity aplenty attracted all comers in March 2019 as Laorealestate.la, and the Lao National Chamber of Commerce and Industry (LNCCI) teamed up with Laos’ leading online marketplace, www.yula.la for the expo.

RDK Group, publisher of The Laotian Times, Champa Meuanglao and Laopost and contributor Laos Briefly joined to capture the excitement.

Champa MeuangLao Magazine, sister publication of the Laotian Times under publisher RDK Group at Laorealestate.la Expo

Champa MeuangLao Magazine, sister publication of the Laotian Times under publisher RDK Group at Laorealestate.la Expo

First Ever Lao Real Estate Expo 2019 by LNCCI & laorealestate.la Laos Briefly with Champa Meuang Lao, Laotian TImes & Lao Post.

Posted by Laos Briefly on ວັນສຸກ ທີ 1 ມີນາ 2019

Savvy clients & suppliers and B2B’s were out in force, hunting for trade and investment opportunities alike.

Now, footage and imagery from the expo have gone online. Take a look and see if you can spot you and yours (and any other promising opportunities!)

 

ພາບບັນຍາກາດພາຍໃນງານມະຫະກຳອະສັງຫາລິມະສັບ 2019 ຄັ້ງທຳອິດໃນລາວເຮົາ ໃນ ວັນທີ 1 – 2 ມີນາ ທາງທີມງານຂໍສະແດງຄວາມຮູ້ບຸນຄຸນທີ່ໃຫ້ຄວາມສົນໃຈໃນງານເຮົາຢ່າງຫຼົ້ນຫລາມ ຈົນເຮັດໃຫ້ງານເຮົາປະສົບຜົນສຳເລັດເປັນຢ່າງຍິ່ງໃຫຍ່

Posted by Yula.la on ວັນອັງຄານ ທີ 5 ມີນາ 2019

According to organizers Yula.la & laorealestate.la;

“The first-ever Laorealestate.la Expo was a huge success, with over 3000 local and international property investors welcomed to Don Chan Palace on the 1st & 2nd of March, 2019.

“Over the two days, the event generated over 10 million USD in property sales and finance referrals.

“Powered by Yula.la, Lao’s leading online marketplace, and in partnership with the LNCCI, over 50 property developers, banks, insurers, and related businesses were on show at the first expo, along with 20+ informative real estate seminars to educate investors and industry insiders.

“Keep your eyes and ears open for the next Laorealestate.la Expo, coming soon!”

English and Chinese below:ຖືວ່າເປັນການປະສົບຜົນສຳເລັດຄັ້ງຫຍິ່ງໃຫຍ່ສຳລັບງານ Laorealestate.la Expo…

Posted by Yula.la on ວັນອັງຄານ ທີ 26 ມີນາ 2019

 

Cabinet Strengthens Gov Agencies Leeway To Act on Land Concessions

Lao Government Revokes Land Concessions

Land Concessions, giving development and usage rights to various individuals and corporate domestic and international investors, has long been considered one of the critical levers to leverage local and foreign investment, economic activity and job creation in Laos.

A form of long term rental, the usage rights to state land have been ceded to investors for projects from shopping malls to banana farms.

As with all investments, the results have been mixed. Amid the successes, it is now those cases of incomplete and inactive investments, environmental pollution and failed developments that have long proved a recurring issue, leading to disquiet for those affected and headaches for Laos’ policymakers, legislators and regulating authorities as Laotian Times has previously reported.

The lack of progress on a total of 81,879 hectares held under some 201 land concession projects has spurred a new round of government efforts to resolve the discrepancies under the country’s laws and respective contract conditions.

Prompting the cabinet to act were the findings of a report indicating that some 240 state land concession projects had been causing environmental damage, the nation’s press representatives were informed on February 20, 2019.

Based on such revelations, country’s cabinet chaired by Prime Minister Thongloun has instructed the country’s state agencies to revoke the land concession licenses held by investors who fail to proceed with developments in accordance with their agreements.

The meeting also approved measures to encourage investors to develop the land for which they had received concessions.

Measures approved include the authorization for state agencies to cancel concessions or fine those companies that fail to utilize state property in ways they were required to under the agreements they signed, government spokesperson Dr Chaleun Yiapaoher told the press conference held at the conclusion of the monthly cabinet meeting held on Wednesday.

Other key topics discussed include measures to improve the business climate, tax collection, rural area development and urban planning for the future needs of the capital towards 2030 and beyond.

The latest moves by the government to regulate and in cases revoke rights for failure to abide by agreements in state land concession projects comes after National Assembly members debated the issue in December.

Foremost among several cases of complaints from local communities aired at the National Assembly regarded pollution caused as a result of the activities at banana plantations in several provinces.

It saw the NA resolve that the government agencies actively push such concession holders to ensure their investments and activities abide by contract conditions for the use of state land while complying with related laws and policies.

The cabinet directed state agencies and the Ministry of Natural Resources and Environment to improve assessment of all land in question following the laws and guidelines before granting investors the right to a concession.

This could also better permit the Ministry of Finance to collect revenue in the form of land concession fees from project developers, Dr Chaleun said.

Land concession projects could only be approved in accordance with national and provincial land development master plans approved by the relevant authorities, investors and agencies were reminded.

Relevant state agencies were also instructed to work together to ensure that forests and other wildlife habitat areas were protected from damage by investment projects.

Modern Lao Homes: Paving the Way for A Higher Standard of Home Building in Laos

Modern Lao Homes Interior

Founded by two expatriates, Mr Greg Nolan, an Australian and Mr Benjamin Soo, a Malaysian-Lao, Modern Lao Homes began with the mission to take on the challenges of building quality, modern homes in Laos. In their visits to their client’s properties they’ve been called in to renovate, Greg and Benjamin realized that Lao many houses are in very poor condition, some only a few years old.  This is largely a result of construction companies in Laos using low quality building materials and techniques to cut corners and cut costs.

In just three years since its establishment, Modern Lao Homes has undertaken a total of twenty projects, including renovation, design and home-building in Vientiane. And another ten projects are underway, scheduled to be built in 2019. As the demand for good home construction increases, Modern Lao Homes is striving to make its services readily available for Vientiane, and to carve a name for itself as Laos’ most trusted and valuable home builders.

Satisfied Customers of Modern Lao Homes

Satisfied Customers of Modern Lao Homes

There is also a common local misconception that building a modern house often means it will be a lot more expensive, especially when hiring an expat-run company like Modern Lao Homes to build, but according to Greg and Benjamin, that couldn’t be further from the truth.

Modern Lao Homes Interior

“We are upfront and transparent with the cost it takes to build a good home with our customers,” says Greg.

“Our houses will last for generations, unlike many of the houses that are found in the market today. We are also probably the only company that are transparent enough to show our customers every bill for items purchased and the profit margin we make so they know that they really get their money’s worth,” he continues. 

Modern KitchenAnother of the unique selling points of Modern Lao Homes is the company’s ability to source for products and items overseas that aren’t typically found in Laos. Saw a nice barn door on Pinterest that you think would be great in your kitchen? WiFi lighting in the living room? Sliding doors that slides into the cavity of the walls? The company has a good network with suppliers in Australia, Thailand and Malaysia that would be able to bring in products and materials of your liking to complete your dream home.

 Modern Lao Homes offers a variety of services ranging from home renovations to providing architectural drawings and of course, home building. The process of building a house can be daunting especially with the many paperwork and processes required to obtain build permits but at Modern Lao Homes, all paperwork is carried out by the team to put the customers at ease.

With the upcoming Lao Real Estate Expo 2019 to be held in Don Chan in 1st March this year, the public will be able to experience a VR walk-through of the company’s very own completed houses at their booth. Their booth received great reception and buzz last year during the Lao Build Expo 2018 when they first introduced a new way for customers to experience and see the quality of their builds through the use of VR and has agreed to do it again for their upcoming booths at Lao Real Estate Expo 2019 and Lao Build 2019 this year.

Lao Real Estate Expo 2019

 To contact Modern Lao Homes, visit the Facebook page at: https://www.facebook.com/modernlaohomes/, or call 020 2803 7367 (Lao), 020 9995 6855 (English).

Laos’ First Real Estate Expo Expecting To Draw 40+ Firms To 2-Day Fiesta

via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

The first real estate investment expo in Laos is set to open eyes, hearts, dreams, and pocketbooks at Don Chan Palace Hotel on Friday & Saturday, March 1-2 2019.

Open to attendance from the public with free entry, Patrons will not only have a chance to eye off some the nation’s best property deals, but go in the draw to win international flight packages and a host of other prizes.

Laorealestate.la, in partnership with the Lao National Chamber of Commerce and Industry (LNCCI) and Laos’ leading online marketplace, www.yula.la, is excited to announce it will be hosting the event.

The Laorealestate.la Expo 2019 is set to bring together Laos’ top property developers, architects, builders, real estate agencies, plot land vendors, banks offering home loans, insurance companies, law firms, and even international property investments.

The Laotian Times, Lao Post and Champa Meuang Lao magazine were among media partners in attendance at the launch.

More than 40 firms will exhibit in one room, for two days only, and the event is expecting over 3000 local and international attendees. Laos’ best luxury car brands and related businesses will also exhibit at the entrance of the event.

On top of a variety of property offerings, the Laorealestate.la Expo will also offer attendees access to a dedicated free seminar room with over 20 seminars from Laos’ leading real estate agents, property development experts, economists, lawyers, financiers, and Government officials.

Various international guests will present in the seminar room, to take a look at Laos’ real estate market in a regional context.

Seminars are focussed on educating buyers and sellers on the Lao investment climate, regulation, pitfalls, and upsides of the sector, and advice for first both first home and experienced buyers.

A special guest confirmed for the event is Dr. Somchai Charoenvarakiet, a Thai Feng Shui Real Estate consultant of over 20 years.

Dr. Somchai is set to offer his insights on how to maximize the positive energy of their home or office through Feng Shui design techniques.

All seminars will be translated via headsets in Lao, English and Chinese languages.

For the first time in the country’s history, all the big names from the Lao real estate industry will be together under one roof.

This presents a perfect opportunity for local buyers and international investors to survey the country’s best property opportunities.

Property sellers and financiers will also bring special expo-only promotions to guests.

 “The LNCCI is proud to be a partner of the first ever specialised real estate investment expo in Laos,” Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr. Daovone Phachanthavong, told the media gathered at the launch.

“Ultimately, events such these will develop the whole sector and the wider economy, sharing information, best practices, business connections and generating a wider consumer base for exhibitors and sponsors, across both local and international networks.”

“This exciting event will provide the perfect platform to celebrate Laos’ real estate industry and to showcase the opportunities this market has to offer to both end-buyers and investors,” Mr Dominick Williams, Chief Executive Officer of APA Insurance Laos (Phongsavanh Insurance (APA) Co., Ltd), the main sponsor and key partner of the laorealestate.la Expo 19 alongside the LNCCI, Yula.la and laorealestate.la, told the gathering.

“Ultimately this will support the progress of the Laos real estate sector and the economy as a whole. As a leading local provider of property and construction insurance, as well as mortgage protection insurance, APA Insurance is delighted to support Expo as partner and main sponsor, and we very much look forward to welcoming guests to Don Chan on March 1st and 2nd, 2019”.

“The 2019 Expo is a great platform for property related businesses to generate leads and increase sales, it also represents a chance to celebrate the local real estate industry and give businesses an opportunity to strengthen their brand.” Mr. James Whitehead, CEO of Yula.la & laorealestate.la, said.

“For our attendees, we are offering a unique opportunity to view a range of property investment options in one room, over 2 days; ranging from plot land options, houses, villas, condos, construction firms, architectural designers, and property services and advice.

“First home buyers will also benefit from a range of home loan options, and specific legal and insurance advice.

“Those seeking international investment, travel, immigration and education options will also benefit from a range of exhibitors advertising opportunities in destinations such as Australia, USA, Europe, Malaysia, and Thailand – to name a few.

“The dedicated seminar room will offer a perfect and totally free opportunity for potential property buyers to learn about taxes, valuations, land laws, investment considerations, market trends and how to finance a home safely, among many other topics. We will have over 20 local and international speakers in the seminar section, over the two-day event.

“The event is now over 70% sold out for exhibitors and sponsors, thanks to a huge effort from the yula.la sales and marketing team, and we have already registered over 1300 local and international guests to join us next month.”

Digital Classified Group (DCG), the Australian-based parent company of Yula.la & Laorealestate.la, is bringing the real estate show concept to Laos after having successfully ran similar expos in several other markets internationally, including Cambodia and Papau New Guinea.

It is boasting a track record of well over USD $80 million worth of property sales at those various events, 30,000 attendees and over 200+ exhibitors.

The event will also be supported through a wide array of Lao and international media partners, including major local media channels both on and offline, Lao’s most prominent business chambers, and an array of investor networks across ASEAN and in China.

Digital Classified Lao Sole Co., Ltd., the Lao subsidiary of Digital Classified Group, would like to extend the utmost thanks to our partners of the first ever Laorealestate.la Expo, namely the Lao National Chamber of Commerce and Industry (LNCCI), the Ministry of Industry and Trade, the Ministry of Industry and Commerce, the Ministry of Planning and Investment, the Ministry of Civil Affairs, the Ministry of Natural Resources and Environment & APA Insurance.

Those wanting to supercharge their brand and business connections are urged to sign up for a booth.

Lao Real Estate Expo 2019

To become an exhibitor or sponsor and take your real estate brand to the next level, visit https://realestatekh.lpages.co/lao-real-estate-expo-2019-exhibitors-sponsors/ or contact: +856 20 55 550 906 | contact@yula.la

Attendees are  encouraged to register as soon for event updates and prizes vis https://realestatekh.lpages.co/lao-real-estate-expo-2019-attendees/ to sign up for free entry and RSVP on Facebook: https://www.facebook.com/events/2192522880987586/

Sponsors include APA Insurance, provider of property and construction insurance, Archineer Associates, Architecture, Engineering and Consultancy firm; Aristo Developers, Property Developing companies in Cyprus, and Bluegrass Design Group and Guru Group, end-to-end marketing companies.

Additional Partners & Media include American-Lao Business Association, The European Chamber of Commerce and Industry in Laos, Austcham Lao, Muan.la, Bizgital, ECCIL (The European Business Chamber), The Laotian Times & LaoPost, Talatlao magazine, Realestate.com.kh, Champa Meuanglao Magazine, J&C Services, 108 Jobs, cvConnect, Kiwipay, Silkroad Media and Big Blue.

The Laotian Times reporting on real estate issues and stories can be found here.

via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

Lao Real Estate Expo 2019
via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

Words + Laotian Times; Images + Laos Briefly

Landmark’s Diplomatic Residential Compound Opens Offering Amenity, Convenience, Security in Capital

Landmark Diplomatic Residential Compound Grand Opening in Vientiane, Laos

The rise of Landmark Mekong Riverside Hotel in recent years has attracted some high profile guests, including a US president in the form of Barack Obama in the Lao capital for the ASEAN-centric East Asia Summit in 2016.

Now, short and long-term residents of Vientiane can enjoy the stellar location and some of the very same facilities enjoyed by high profile guests with the opening of landmark Riverside Hotel Diplomatic Residential Compound.

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Offering a unique combination of convenience, amenity and location in the Lao capital, Landmark Riverside DRC sees a variety of accommodation and views increasingly attracting an international-focused clientele.

Security is also one of the main attractions expected to draw in increasingly safety conscious residents.

The Laotian Times joined hosts, guests, residents and members of the news media in attendance for the launch on Friday, November 30 just ahead of the Lao National Day long weekend.

With a range of residential apartments at various price points being snapped up by savvy consumers and their employers, those keen on living at this unique location are recommended to make the move and enquire at Landmark DRC swiftly while opportunities remain.

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Landmark Diplomatic Residential Compound Grand Opening in Vientiane, Laos

Landmark Diplomatic Residential Compound Grand Opening in Vientiane, Laos

Centara to Open Three More Hotels in Laos in 2020

Centara Opens New Hotels in Laos

Centara, Thailand’s leading hospitality group led by Suthikiati Chirathivat, Chairman of the Board, has inked a management MOU with Asia Investment, Development & Construction Sole Co., Ltd (AIDC), a well-established investment and construction company in Laos. The agreement paves the way for Centara to enter into management agreements for three hotels in Laos with a combined total of 214 rooms in capital city Vientiane and historic destination Luang Prabang.

Suthikiati Chirathivat, Centara’s Chairman of the Board said: “This signing ceremony demonstrates our commitment to expansion in Asia as we continue to develop our portfolio internationally. With the expertise from a country leader in development like AIDC and Centara’s record of delivering and inspiring extraordinary guest experiences, we are very excited to be partnering for success on these three exciting projects in Laos”

The three hotels will be operated under three distinct brands in the Centara Hotels & Resorts portfolio: in close proximity to Luang Prabang airport and major tourist attractions will be Centara Grandthe upper upscale hotel comprising premium rooms, leisure and meeting facilities. Targeting the more cost-conscious traveller in Luang Prabang will be a Centra by Centara hotela quality value offering in a convenient city location whilst the latest COSI branded hotel will be arriving in Vientiane. COSI is the affordable lifestyle brand for the modern tech-savvy and connected traveller and it will offer a distinctive and localised experience in Vientiane.

Pheutsapha Phoummasak, President of AIDC Laos stated: “Luang Prabang and Vientiane are very popular destinations for both Thai and international travellers thanks to their perfect blend of historic legacy, wonderful sceneries and modern infrastructure. We are excited to partner with a Centara to bring their trusted brands to these cities and further promote the tourism potential of Laos.”

This latest development is in line with Centara’s impressive expansion strategy and will see Centara’s hotel count in Laos reach four with Centara Plumeria Resort Pakse already well under development and scheduled to open in 2020.

 

From left to right:

  1. Uaychai  Khuhakarn                   Senior Vice President-Corporate Development of Central Group
  2. Adul  Chaiprom                         Vice President of AIDC
  3. Dan  Chinsupakul                      Advisor to Chairman of the Board
  4. Pheutsapha  Phoummasak        President of AIDC
  5. Suthikiati  Chirathivat                 Chairman of the Board
  6. Suparat  Chirathivat                   Executive Vice President-Corporate Development  of Central Group
  7. Dr Ronnachit  Mahattanapreut    Senior Vice President-Finance & Administration
  8. Markland Blaiklock                    Deputy Chief Executive Officer

Digital Classifieds Group Receives AUD $2.25 million Investment From Strategic Private Equity Firm

Digital Classifieds Group

Australian-based Digital Classifieds Group (DCG), a rapidly growing online classifieds business with operations in Cambodia, Laos, Papua New Guinea and Fiji, recently received a major equity investment of AUD $2.25 million from private equity firm Belt Road Capital Management (BRCM).

DCG CEO Mathew Care said the company’s major investments in its technology and core human resources had seen increased investor interest in recent funding rounds.

“We are presently reviewing a range of expansion opportunities, particularly in Southeast Asia, where we have seen a tremendous surge in internet penetration and rapid urbanisation. We believe that our experience, platforms and committed expatriate and local teams are capable of tackling almost any new opportunities – and this additional capital and partnership gives DCG the ability to do this,” Mr Care said.

“When we first commenced the business we undervalued the importance of our platform and bootstrapped every part of the business. With the benefit of hindsight, we have spent over 18 months developing a world class platform, based on proven Australian real estate portal technology, which is now delivering outstanding results.”

Mr Care said the initial approach from BRCM was unsolicited. “We have had a long association with Alex Odom, the Chief Investment Officer at Belt Road Capital Management, and we were flattered when he approached us about investing in our business,” he said.

Mr Odom said he believed DCG had a strong future in both the Cambodian market and internationally.

“I’m excited that BRCM will now be a part of this journey,’’ he said. “ Having seen the swift growth of DCG’s business in Cambodia, and a high level of professionalism across their local and international operations, I was more than confident to introduce the opportunity to the equity partners of Belt Road.’’

Tom O'Sullivan, CEO of Realestate.com.kh (left) and Alex Odem, Chief Investment Officer of BRCM (right)

Tom O’Sullivan, CEO of Realestate.com.kh (left) and Alex Odem, Chief Investment Officer of BRCM (right)

Mr Care said the additional funding was highly strategic, given BRCM’s unique focus on countries exposed to China’s One Belt One Road Initiative, particularly Mekong-based countries such as Cambodia, Laos, Vietnam, Myanmar and Thailand.

“The One Belt One Road Initiative has started in the Pacific and extended into Southeast Asia and the greater globe – which follows the trajectory of DCG’s history thus far. Alex and the team at BRCM have deep experience in our current markets, plus excellent connections into mainland China. Such expertise is both rare and invaluable to DCG moving forward,” Mr Care said.

DCG Director and former CEO of Allhomes.com.au (owned by Domain Holdings Australia Limited, ASX:DHG) Tim White, commented: “DCG does not have immediate plans to IPO. We are currently focusing on growing the business, with an emphasis on leadership in our current markets and expansion to new markets.”

About Digital Classified Group (DCG):

DCG has grown rapidly since its 2014 launch to create the dominant real estate portals in Cambodia (www.realestate.com.kh), Papua New Guinea (www.hausples.com.pg), and Fiji (www.property.com.fj). The group also owns leading general classifieds websites in Laos (www.yula.la), Papua New Guinea (www.marketmeri.com), and Fiji (www.market.com.fj).

DCG has taken leading positions in all of these markets through innovations such as sophisticated search technology, a localised approach to each market (languages spanning English, Khmer, French and Chinese), CRM and website solutions for real estate agents, and high-value real estate sales events.

For more information please visit DCG’s official site: http://digitalclassifiedsgroup.com

About Belt Road Capital Management:

Belt Road Capital Management is a private equity investment manager based in Phnom Penh, Cambodia which focuses on the Greater Mekong Sub-Region consisting of Cambodia, Myanmar, Lao PDR, Thailand and Vietnam. The company partners with promising small and medium-sized enterprises (SMEs) to support the achievement of strategic goals, facilitate sustainable growth and expand access to new markets.

BRCM has launched its initial round of fundraising with value up to USD $50 million and has begun deployment and plans to launch subsequent investment funds in the near future.

For more information please visit BCRM’s official site: http://www.beltroadcap.com

New Law to Ensure Fair Compensation for Relocated Populations

Laos Compensation Resettlement

A new law will pave the way for fairer and faster compensation payouts for landowners that lose their property to development projects, according to a policy developer.

The draft law on stabilization of livelihoods will determine conditions to ensure people who lose property can enjoy better living conditions after relocation. According to the draft law, those relocated due to development projects will be fully compensated and will also be provided with new and permanent employment.

The law will be submitted to the National Assembly’s ordinary session for approval in April this year.

The current compensation scheme is determined under Prime Ministerial Decree No. 84, which stipulates that compensation must ensure better living conditions for relocated populations. However, the new law will be more comprehensive, and will further detail the procedures for providing new employment to resettled persons.

More responsibility will be placed on the project developer under the new law, who will be required to provide infrastructure and ensure acceptable living conditions, as well as providing training and assistance during the transition period.

The new law requires compensation be paid within 24 months, and any failure to comply, or delays caused by the project developer, will result in higher levels of compensation in line with market prices, ensuring property owners are treated fairly.

 

Source: Vientiane Times
Photo: Giovanni C. Lorusso