Cambodian developers entice buyers via showrooms
Cambodian developers entice buyers via showrooms
While virtual viewings are becoming more widespread, some developers still believe that real is best
Cambodia is banking on the showroom as a way to spur buyers into action, The Phnom Penh Post reports.
Urbanland recently opened a showroom featuring a 69-square-metre, one-bedroom unit, complete with a 1.5-metre balcony. Meridian International Holding, on the other hand, transformed the entire 15th floor of its 33-storey Casa Meridian condominium tower into a showcase with actual units. The developer is currently planning a showroom for its Meridian Square development in Phnom Penh City Centre.
In May, a showroom for The Peak, a USD580 million joint venture between Oxley International and Worldbridge Land, was unveiled to some 300 guests.
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Property showrooms require huge outlay in Cambodia. “What is spending USD1-2 million for a showroom to show the clients what we are going to do for you and this is what you’re going to get?” Harry Martin, head of sales at Oxley Worldbridge, told the Post.
This affinity for showrooms comes at a time when virtual tours and even virtual reality goggles are being used to showcase properties under development. With such devices as the Microsoft HoloLens and the Oculus Rift simulating developments in holographic detail, prospective buyers can inspect developments with nary a footstep.
The showroom is not about to go the way of antiquity though. “In this present world, whereby everything is very visualized for everyone, we believe that the ‘shopping’ experience must be translated into the showrooms,” Salomon Wolf, co-founder and principal of Meridian International, told the Post.
Read next: How technology is changing almost every aspect of real estate
Source: Property Report