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Posted
by Cambodia Stock Exchange TV
on June 29, 2009
Sung Bonna, Bonna Realty Group - real estate investments in Cambodia Sung Bonna is one of Cambodia's most successful real estate entrepreneurs. It also immediately becomes apparent that he is not your average Cambodian real estate agent. Genteel and humble, Bonna displays neither the arrogance nor the intensity that frequently comes with spending one's life pushing land deals. Instead, flanked by a large statue of the Buddha behind his large mahogany desk in a leafy street in Sangkat Beong Kok II he comes across as patient and unassuming ± more a listener than a talker. Established since September of 1999, Bonna Realty Group has been a leader in the dramatic transition in making an undeveloped and underrated country to a potential market for investors. During these years, Bonna Realty Group has cultivated numerous relationships and earned the trust of both local and foreign investors, helping them achieve the maximum potential of their real estate investments in Cambodia. Bonna Realty Group is a privately held, full service real estate company located in the heart of Phnom Penh. Mr. Sung Bonna, President and CEO of the company invested his time and effort to meet all of his clients needs, catering to all classes of society both local and foreign alike. Staring from a small office space with only a desk, an old motorbike and pure determination and hard work, the company managed to grow in terms of property assets, employees and business relationships. The transition from the small office to a corporate headquarters in Phnom Penh paved the way for the company to enhance customer-oriented service where the customer is treated as a King. The CUSTOMER IS KING Treatment guarantees that you will always receive Service, Trust, Accessibility and Results from everyone in the organization. This state-of-the art headquarters provides evidence of Mr. Bonnas commitment to remain sensitive to the real estate needs of his countrymen and foreign investors as well as to protect the tradition and culture of his country. Through the years, Bonna Realty Group has partnered with the countrys leading local and foreign banks, maintaining good business relationships. Other Bonna Realty Group facilities include three apartment buildings in Phnom Penh, which are strategically positioned to accommodate the rapid area development and customers convenience. We've all met our share of dodgy real estate agents and opinion polls frequently list them as one of the most-distrusted groups in business. However, there is something both impressive and endearing about Bonna, who was brought up in an orphanage and has managed to build a real estate empire that has since become the official land valuator for the Cambodian government. He is also highly sought after as an appraiser and valuator for leading companies and NGOs in Cambodia. "Many people start with zero capital, I started with minus-ten," he says of his early experiences starting his real estate business. "It was very difficult. I had no office, just two staff and a motorbike. I used a small shop in Phnom Penh with an old sofa. My bedroom was upstairs." Describing the secrets of his success, Bonna admits that he was in the right place at the right time. "The fact is, real estate in Cambodia picked up significantly in 2004, following the political crisis. It's grown a lot since then. Today, it's one of the fastest growing in Asia," he says. "During 2000-2003, the land market price increased from 15 to 20 percent per year, 20 to 50 percent during 2005-2006, 50 to 80 percent during 2007, and 80 to 100 percent during 2008. It's slowing a little, but not significantly, with local and foreign investment still pouring into Cambodia."