Condominium developers

Two decades of delivered districts and a 2025 airport, with a bank behind it — the market's lowest completion risk. Scored below the delivery record for political proximity, a documented displacement legacy, and the imbalance of buying from a conglomerate this dominant.

Deepest balance sheet in the borey market: a 1982-founded conglomerate with its own cement JV, bank, and mall portfolio behind every project. Delivering since 2017. Deductions for conglomerate opacity, undisclosed data, and borey oversupply exposure.

Delivered everything it announced in Cambodia — 2,400+ units across three projects — to Japanese design standards, but the flagship ran past its scheduled completion and the group itself is harder to scrutinise than its delivery record.

European-operated developer with a real delivered record — LZ Apartments (2017) and the 320-unit Sea View Residences building 1, with self-reported 100% occupancy, run by in-house management. Capped by single-market Sihanoukville exposure and the 24-storey Premium scale-up.

Genuinely delivered repeat builder — four towers completed through the post-2019 downturn. Capped by the model: ever-taller pre-sale towers, five projects at once, investor-grade pricing, and on-time claims resting mostly on the developer's own telling.

Not yet scoreable. MIRAKU has announced one project and completed none in Cambodia — there is no delivery record to weigh, so we publish no trust score rather than invent one. Everything below is the announced plan and the questions a buyer should ask of it.

Ten-plus completions since 2013 across four product types, consistent awards, and a building-materials conglomerate behind it — a top homegrown delivery record. Premium-niche exposure and the in-transition corporate identity are the watch items.

Completed and occupied — a rare de-risking fact. Le Condé BKK1 is move-in ready in BKK1 with Japanese management. Chinese developer + Sichuan Huaxi construction. Capped by single-tower track record.