Moek Chenda, founder of Realestate.com.kh: "From Small, Domestic Company to Multi-Million Dollar Investment"
Realestate.com.kh is one of the leading sites in Cambodia that focuses on real estate by working with real estate agencies, property developers, and other financial institutions. This website was created by Moek Chenda in 2009 and then DCG company based in Australia partnered with him to develop the business further in 2015. Currently, this site is available in five languages: Khmer, English, Chinese, French, and Thailand with over 40,000 properties for sale and thousands of real estate agencies visiting Realestate.com.kh website and app every month.
Below is an interview with Mr. Moek Chenda regarding the development of the business.
1) Realestate.com.kh went from a small startup to a leading real estate website and marketing agency in Cambodia while competition is pretty decent. The ability to create and grasp opportunities plays an important role in the company when it first started 9 years ago. How do you create and grasp these opportunities?
Mr. Chenda: In this competitive, technological world, we must persevere and take risks. There are many opportunities out there that we should grasp like the phrase “fortune favours the brave.”
2. What is the company focusing on right now? Is it improving?
Mr. Chenda: We are focusing on maintaining our standards and values as a leading real estate website in Cambodia. Realestate.com.kh has over 40,000 properties for sale and rent and about 10,000 visitors. We provide comprehensive and reliable information, not only just real estate information in Cambodia but also information about developing regions, tourism transportations, economic zones, health care systems, government services and any information that foreign investors or visitors to Cambodia need. In addition to the Khmer language, we are also promoting in English and Chinese to showcase our growth as a company. Starting with only two to three local staff, we now have more than 30 local and foreign staff. We are on the verge of growth and looking at the decline of other businesses. We are confident in the growth of the company with our marketing and content creation team.
3. Often, new businesses face many challenges related to finance and management. And that’s even more true for the first year of operation. What problems did the company face? And how did Realestate.com.kh solve those problems?
Mr. Chenda: In the business world, there are many problems to face and Realestate.com.kh definitely cannot avoid all of them. The main problem is finding the right people to manage and work in the company. Fortunately, I was able to find the right partner and dedicated team. We work together to find solutions to problems we have faced over the years.
4. How do you grow a business idea to become a leading real estate website and marketing agency in Cambodia? What is behind this rapid growth?
Mr. Chenda: It’s normal! It happens because of our hard work, collaboration and dedication. We have good business practices, clear strategies and the highest standards. But our success also depends on finding the right partner. In 2015, we partnered with Australia-based Digital Classifieds Group (DCG) which allowed us to extend our operations further. Earlier this year, Belt Road Capital Management (BRCM) partnered with an additional $1.8 million investment.
5. As the owner of a company that successfully seeks capital investment in collaboration with local and foreign investors, what is your message to all the new business owners who want to capitalize or attract investment?
Mr. Chenda: Investors are usually those who want to make profit out of their investment. They are always looking for institutions or companies that have the potential to develop or grow. If your organization is well run, has good management, and has enough staff, clear goals, and a clear and active strategy, then many investors will come.
6. What is your main piece of advice for building a successful business in a short period of time?
Mr. Chenda: Finding capital is really difficult for a startup business. But if the employees in your company work together and follow a clear business plan, your business will definitely succeed. These features will bring you to the top spot in this challenging market.
7. What is your last message for the readers?
Mr. Chenda: Remember that integrity, dedication and hard work are important if you want to succeed in life. This is also the case in real estate. Obstacles are temporary and success will come back to us.
By: An Youlin