CI. Borey (Community Houses)

C ONTANT CI. Borey (Community Houses) 1.1. Total Supply for Bories P2 III. HOTEL IN SIEM REAP 3.1. SUPPLIES BY Location P11 1 1.2. Project Status 3.2. Supplies Growth 1.3. Type of Developers 3.3. Hotel Occupancy Rate 1.4. Selling Price in Russey Keo District 3.4. Room Rate for 5 Stars Hotel 1.5. Selling Price in Sen Sok District 3.5. Room Rat for 4 Stars Hotel 1.6. Selling Price in Chbar Ampov District 3.6. Room Rate for 3 Stars Hotel 1.7. Selling Price in Chroy Chong Var District 3.7. Room Rate for 2 Stars Hotel 1.8. Selling Price in Mean Chey District 1.9. Selling Price in Porsen Chey, Dangkor and IV. Hotel in Sihanouk Ville P14 Prek Pnov District 1.10. Selling Price in Toul Kork District 1.11. Selling Price in Chamkamorn District 1.12. Selling Price in CBD Area 4.1. Supplies Growth 4.2. Hotel Occupancy Rate 4.3. Hotel Supplies by Stars 1.13. Selling Price in Outskirts Area 4.4. Room Rate for 5 Stars Hotel 1.14. Sale Result 4.5. Room Rate for 4 Stars Hotel II. Hotel in Phnom Penh P8 4.6. Room Rate for 3 Stars Hotel 4.7. Room Rate for 2 Stars Hotel 2.1. Hotel Supply by Location 2.2. Hotel Supplies in Daun Penh District V. Hotel in Battambang Province P17 2.3. Supplies Growth by Years 5.1. Hotel Supplies by Stars 2.4. Supplies Growth 5.2. Hotel Occupancy Rate 2.5. Occupancy Rate by Stars 2.6. Hotel Occupancy Rate 2.7. Room Rate for 5 Stars Hotel 2.8. Room Rate for 4 Stars Hotel 2.9. Room Rate for 3 Stars Hotel 5.3. Room Rate for 4 Stars Hotel 5.4. Room Rate for 3 Stars Hotel 5.5. Room Rate for 2 Stars Hotel VI. Tourism P18 2.10. Room Rate for 2 Stars Hotel 6.1. Number of Tourist Arrival 6.2. Major Tourist Arrival 6.3. Domestic Tourist By Region

2 1.1. Total Supply for Bories THRID QUARTERLY REPORT 2016 BOREY AND HOTEL I. Borey (Community Houses) With factors such as growth in population, standards of living, economic situation and urbanization from city to Phnom Penh s outskirts The supply of residential /gated communities increased from year to year where our recent data collected shows that there are approximately 54,000 houses in 190 projects in Phnom Penh as of 2016 - a 13% increase compared to 2015 and 20% increase respectively in 2014. Phnom Penh, Cambodia s Capital City has a total of twelve (12) districts. Four (4) of these districts (Chamkamorn, Toul Kork, Daun Penh and 7 Makara) are situated in the Phnom Penh s CBD While the other eight (8) districts (Sen Sok, Russey Keo, Mean Chey, Chroy Chong Var, Porsen Chey, Chbar Ampov, Prek Phnov and Dangkor district) lie in its outskirts. Some 10,700 houses in 46 projects are located in the Sen Sok District followed by 9,700 houses of 26 projects in Porsen Chey district and approximately 1,600 houses of 9 projects are located in Phnom Penh s CBD where an annual increase was seen from 10% to 20% from 2014. TOTAL UNITS SUPPLY 12,000 10,000 8,000 6,000 4,000 2,000 Q3 2016 Q3 2015 Q3 2014

3 1.2. Project Status Approximately 123 (28,500 units) of 190 projects were constructed while 67 projects (25,600 units) are still under construction. More specifically, these projects under construction are identified as MEGA project developments such as Borey Peng Huoth, Borey New World, Borey Lim Chheang Hak, Borey Orkide Villa, Borey Vimean Phnom Penh, Borey Ataing Meas (Project the Flora) etc. These projects will be completed in the next few years considering payment schemes or capital investments as underlying factors. PROJECT STATUS Completed Under Construction 1.3. Type of Developers As mentioned, most of the projects that are under construction are developments by Cambodia s leading housing developers namely: 1. New World Group (39% of total inventory); 2. Peng Huoth Group (30% of total inventory); 3. Lim Chheang Hak Group (11% of total inventory); 4. Vimean Phom Penh by Ly Hour Group (7% of total inventory); 5. Orkide Villa (7% of total inventory); 6. OCIC (Oversea Cambodia Investment Corporation) (4% of total inventory); and 7. Phnom Penh Themy (2% of total inventory). These developers are developing boreys with not less than 3 projects in different location, house types and target market based on their selling price and customer preferences. MAJOR DEVELOPER Orkidee 7% Phnom Penh Thmey 2% Vimean Phnom Penh 7% Lim Chheang Hak 11% OCIC 4% Peng Huoth 30% New World 39%

4 1.4. Selling Price in Russey Keo District There are several types of residential units in a borey. They can be further detailed into the following categories: Flats, Link Houses, Twin Villas and Single Villas. The price for Flats in Russey Keo district ranges from USD 55,800 to USD 308,000, while price of Link House ranges from USD 94,000 to USD 30,668. Twin Villas sell from is USD 146,668 to USD 194,500 while Single Villas start from 256,500 to as much as USD 390,000. Selling Price in Russey Keo District $450,000.00 $400,000.00 $350,000.00 $300,000.00 $250,000.00 $200,000.00 $150,000.00 $100,000.00 $50,000.00 Flat Link House Twin Villa Single Villa Min Max Ave 1.5. Selling Price in Sen Sok District In the Sen Sok district, prices for Flats range from USD 51,800 to USD 190,000, while price of Link Houses range from USD 88,040 to USD 234,000. Twin Villas sell from USD 201,800 to USD 310,000 while Single Villas start from 483,800 to USD 875,000. SELLING PRICE IN SEN SOK DISTRICT $1,000,000.00 $900,000.00 $800,000.00 $700,000.00 $600,000.00 $500,000.00 $400,000.00 $300,000.00 $200,000.00 $100,000.00 Flat Link House Twin Villa Single Villa Min Max Ave

5 1.6. Selling Price in Chbar Ampov District In Chbar Ampov district, the selling price for Flats starts from USD 48,000 to USD 130,000, while price of Link Houses range from USD 110,800 to USD 175,800. Twin Villas sell is from USD 159,800 to USD 234,800 while Single Villas start from 365,800 to USD 1,686,800. Selling Price in Chbar Ampov District $1,800,000.00 $1,600,000.00 $1,400,000.00 $1,200,000.00 $1,000,000.00 $800,000.00 $600,000.00 $400,000.00 $200,000.00 Flat Link House Min Max Ave Twin Villa Single Villa 1.7. Selling Price in Chroy Chong Var District In Chroy Chong Var district, the selling price for Flats start from USD 156,888 to USD 181,888, while price of Link Houses range from USD 91,888 to USD 165,888. Twin Villas sell from USD 112,900 to USD 259,888 while Single Villas start from 459,900 to USD549, 900. 1.8. Selling Price in Mean Chey District In Mean Chey district, the selling price for Flats start from USD 79,000 to USD 80,000, while price of Link Houses range from USD 133,800 to USD 201,800, Twin Villas sell from USD 224,800 to USD 254,800 while Single Villas start from USD 430,800 to USD 462,800. SELLING PRICE IN MEAN CHEY DISTRICT $500,000.00 $450,000.00 $400,000.00 $350,000.00 $300,000.00 $250,000.00 $200,000.00 $150,000.00 $100,000.00 $50,000.00 Flat Link House Twin Villa Single Villa Min Max Ave SELLING PRICE IN CHROY CHONG VAR DISTRICT $600,000.00 $500,000.00 $400,000.00 $300,000.00 $200,000.00 $100,000.00 Flat Link House Twin Villa Single Villa Min Max Ave

6 1.9. Selling Price in Porsen Chey, Dangkor and Prek Pnov District Residential developments in Dangkor, Porsen Chey and Prek Phnov are mostly flat houses than villas. Flats in Porsen Chey District range from USD 46,000 to USD 200,800. Flats in Dangkor range from USD 48,000 to USD 109,500 while flats at Prek Pnov range from USD 45,800 to USD 109,800. Selling Price in Porsen Chey, Dangkor and Prek Pnov District $250,000.00 $200,000.00 $150,000.00 $100,000.00 $50,000.00 1.10. Selling Price in Toul Kork District In Toul Kork district, the selling price for Link Houses start from USD 150,000 to USD 180,000, while price of Twin Villas range from USD 200,000 to USD 250, 000 while Single Villas start from USD 500,000 to USD 650,000. Selling Price in Toul Kork District $700,000.00 Dangkor Porsenchey Prek Phnov Min Max Ave $600,000.00 $500,000.00 $400,000.00 $300,000.00 $200,000.00 $100,000.00 Link House Twin Villa Single Villa Min Max Ave

7 1.11. Selling Price in Chamkamorn District The price of Flats in the Chamkamorn district ranges from USD 150,000 to USD 800,000, while price of Link Houses range from USD 350,000 to USD 600,000. Twin villas range from USD 550,000 to USD 650, 000 while Single Villas start from USD 1,000,000 to USD 1,800, 000. Selling Price in Chamkamorn District 1.13. Selling Price in Outskirts Area The outskirts of Phnom Penh is on the rise as price of Flats is star from USD 43,000 to USD 263,000. Link Houses range from is USD 68,800 to USD 392,980, Twin Villas are priced at USD 143,668 to USD 540,690 while Single Villas sell from USD 155,000 to USD 1,653,800. $2,000,000.00 $1,800,000.00 $1,600,000.00 SELLING PRICE IN SUBURB AREA $1,800,000.00 $1,600,000.00 $1,400,000.00 $1,200,000.00 $1,000,000.00 $1,400,000.00 $1,200,000.00 $1,000,000.00 $800,000.00 $800,000.00 $600,000.00 $400,000.00 $200,000.00 Flat Link House Twin Villa Min Max Ave Single Villa $600,000.00 $400,000.00 $200,000.00 1.14. Sale Result Flat Link House Twin Villa Single Villa Min Max Ave Sales of boreys from year to year has dropped down buy Q3 2016 with average sales results at 77% compared to 2015 at 80% and 2014 at 84% sales. 1.12. Selling Price in CBD Area Our survey shows that prices of boreys in Phnom Penhs s CBD Area seem higher than other types of houses in boreys, starting from USD 500,000 to 1,800,000USD, Twin Villas start from USD 200,000 to USD 650,000. Link Houses start from USD 150,000 to USD 600,000 while Flats start from USD 150,000 to 800,000. Selling Price in CBD Area $2,000,000.00 $1,800,000.00 $1,600,000.00 $1,400,000.00 SALE RESULT 90% 80% 70% 60% 50% 40% 30% 20% 10% $1,200,000.00 $1,000,000.00 $800,000.00 $600,000.00 0% Q3 2016 Q3 2015 Q3 2014 Sale Result Vacant $400,000.00 $200,000.00 Flat Link House Twin Villa Single Villa Min Max Ave

8 II. HOTEL IN PHNOM PENH 2.1. Hotel Supply by Location Our recent survey shows that there are 348 hotels in Phnom Penh alone where two major hotel investments are located in the prime location of Daun Penh and Chamkamorn due to the fact that, these two districts are located in the CBD while being surrounded by numerous tourist attraction sites including Royal Palace, Wat Phnom Historical Site, National Museum, Night market, restaurants and bars, Supermarkets, and the Mekpong River among others while others hotels are situated at Toul Kork and Khan 7 Makara district. Hotel Supply by Location Dangkor Porsen Chey Russey Keo Mean Chey Sen Sok Chroy Chong Var Toul Kork 7 Makara Chamkarmorn Daun Penh _ 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2.2. Hotel Supplies in Daun Penh District Daun Penh District is the top location for hotels among other locations in Phnom Penh. The Chak Tomuk commune having the most number of hotels compared to other communes followed by Phsar Kandal I Commune, Boeung Raing, Chey Chumnes, Phsar Thmey III, Wat Phnom, Sras Chok and Phsar Kandal II Commune respectively. Hotel in Daun Penh District 1,400 1,200 1,000 800 600 400 200

9 2.3. Supplies Growth by Years Based on data from booking.com, Daun Penh district tops the list with the most number of rooms at 5,934 rooms in 2016 followed by Chamkamorn and 7 Makara district with Dangkor district having the lowest of growth rate because of its proximity from down town Phnom Penh and tourist areas. Supplies Growth by Years 7,000 2.5. Occupancy Rate by Stars Q1 Q3 of 2016 shows hotel occupancy rate for 5 star hotels is higher topping the list at, 94% while 4 star hotels key in at 71% while 3 and 2 star hotels is at 67% and 77% respectively. Occupancy Rate by Stars 6,000 5,000 4,000 3,000 5 Stars 4 Stars 3 Starts 2 Stars 2,000 1,000 2.4. Supplies Growth Supplies Growth by Years Q3 2016 Q3 2015 Q3 2014 The supply of 3 Star hotels are higher than other hotel classification with the number of 6,500 rooms. The supply for 4 star hotels is at 5,200 rooms, 2 star hotels at 2,800 rooms while 5 star hotels have 1,800 rooms. 7,000 6,000 5,000 4,000 2.6. Hotel Occupancy Rate Hotel Occupancy rate in Phnom Penh in 2014 was at 73% with vacancy rates at 27%. While 2015 was 68% and 2016 was 70% with vacancy rate 30%. Hotel Occupancy Rate 3,000 2,000 1,000 5 Stars 4 Stars 3 Stars 2 Stars 2016 2015 2016 Q3 2014 Q3 2015 Q3 2016

2.7. Room Rate for 5 Stars Hotel 2.9. Room Rate for 3 Stars Hotel 10 Room rate for Standard rooms starts from USD 91 to USD 312 per night while Twin rooms go from USD 96 to USD 312 per night. Suite s range from USD 251 to USD 480/night while Executive Suite s from USD 348 to 3,000 per night. Room Rate for 5 Stars Hotel $3,500.00 $3,000.00 $2,500.00 $2,000.00 $1,500.00 $1,000.00 $500.00 Rates for Standard rooms start from USD 20 to USD 40 per night, while the rate for Twin Room is from USD 25 to USD 58.50 per night. Triple rooms range from USD 34 to USD 68/night while Suites sell from USD 40 to USD 112 per night. Room Rate for 3 Stars Hotel $200.00 $180.00 $160.00 $140.00 $120.00 $100.00 $80.00 $60.00 $40.00 $20.00 2.8. Room Rate for 4 Stars Hotel Room Rates for Standard rooms start from USD31 to USD 149 per night, while the rate for Twin Rooms go from USD 36 to USD 150 per night. Triple rooms start from USD 43 to USD 165/night while Suite s range from USD 60 to USD 200 per night. The Executive Suites start from USD 65 to as much as USD 265 per night. Room Rate for 4 Stars Hotel $300.00 $250.00 $200.00 $150.00 $100.00 2.10. Room Rate for 2 Stars Hotel Room Rates for Standard rooms start from USD 15 to USD 37 per night, while the rates for Twin Rooms sell from USD 15 to USD 50 per night. Triple rooms sell from USD 30 to USD 60 per night while Suites sell from USD 30 to USD 70 per night. Room Rate for 2 Stars Hotel $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 $50.00

11 III. HOTEL IN SIEM REAP 3.1. SUPPLIES BY LOCATION Siem Reap City / province is made up of there are 13 Sangkats or communes. Among these Sangkats, Sangkat Svay Dangkum, Slor Kram, Sala Komroek and Chong Kaosou are situated in the city center, where most hotels are located. There is a total of 564 hotels in Siem Reap province with approximately a total number of 22,200 rooms. SUPPLIES BY LOCATION Bakong Kra Lanh Trapang Treng Wat Damnak Vihear Chin Kandek Stoeng Thmey Damnak Sdach Banteay Chas Kork Chork Sala Konseng Chreav Siem Reap Other Sra Nge Sala Komroek Slor Kram Svay Dangkum 0 2000 4000 6000 8000 10000 12000 3.2. Supplies Growth Based on data from booking.com, 4 Star hotels top the list with around 7,700 rooms. Followed by 5 star hotels which approximately 6,400 rooms, 3 stars hotels with 6,000 rooms and 2 star hotels with approximately 2,100 rooms. Supplies Growth 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 5 Stars 4 Stars 3 Stars 2 Stars 2016 2015 2014

12 3.5 Room Rate for 4 Stars Hotel 3.3. Hotel Occupancy Rate Hotel Occupancy rate in Siem Reap in 2014 was at 72% with a vacancy rate of 28% while 2015 was at 67%, having the same rate at 2016 with a vacancy rate of 33%. Hotel Occupancy Rate Rates for Standard rooms Starts from USD 25 to USD 90 per night while Twin Rooms range from USD 27 to USD 188 per night. Triple rooms sale from USD 42 to USD 210/night while Suites from USD 60 to USD 380 per night. There are also some 5 star hotels who have executive Suite s from USD 115 to USD 770 per night and Villa s from USD 68 to USD 880 per night. Room Rate for 4 Stars Hotel $1,000.00 $900.00 $800.00 $700.00 $600.00 $500.00 Q3 2014 Q3 2015 Q3 2016 3.4. Room Rate for 5 Stars Hotel Rates for Standard rooms start from USD 48 to USD 271 per night while Twin Rooms range from USD 50 to USD 340 per night. Triple rooms sell from USD 67 to USD 356/night while Suites go from USD 85 to USD 703 per night. There are also some 5 star hotels who have executive suites selling from USD 79 to USD 1,047 per night and Villas from USD 141 to USD 880 per night. $400.00 $300.00 $200.00 $100.00 Room Rate for 5 Stars Hotel $1,500.00 $1,000.00 $500.00

13 3.6. Room Rate for 3 Stars Hotel Standard room rates start from USD 10 to USD 54 per night while Twin Rooms range from USD 13 to USD 94 per night. Triple rooms sell from from USD 27 to USD120/night while Suites sell from USD 30 to USD 140 per night, There are also some 5 star hotels who have executive Suites selling from USD 90 to USD 157 per night and Villas going from USD 120 to USD 190 per night. Room Rate for 3 Stars Hotel $200.00 $180.00 $160.00 $140.00 $120.00 $100.00 $80.00 $60.00 $40.00 $20.00 3.7. Room Rate for 2 Stars Hotel Rates for Standard rooms start from USD5 to USD 24 per night while Twin Rooms range from USD 7 to USD 50 per night. Triple rooms from USD15 to USD 68 per night. Room Rate for 2 Stars Hotel $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 Standard/Single Twin/Double Tripple

14 IV. Hotel in Sihanouk Ville 4.1. Supply Growth Our recent survey shows that, 3 stars hotels top the list with more rooms among other hotel classifications. 2014 figures show that the total supply of hotel rooms was 3,200 while 2015 saw an increase from 4,100 room to 2016 where the supply continued to increase to 5,500 rooms compare to the same period in 2015 at a 31% increase in supply. Supply Growth 2500 2000 1500 1000 500 0 5 Stars 4 Stars 3 Stars 2 Stars 2016 2015 2014

15 4.2. Hotel Occupancy Rate Since 2014 to present, the total occupancy rate was remained similar with an average of 72% according to high and low seasons. High season for hotel bookings in Cambodia starts from October to March while low season starts from April to September with its peak season during December. Hotel Occupancy Rate Room Rate for 5 Star Hotel $800.00 $700.00 $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 4.5. Room Rate for 4 Stars Hotel Rates for Standard rooms for 4 star hotel is begin from USD 17 to USD 91 per night. Twin Room that starts from USD 20 to USD 98 per night, and Triple Room has started from USD 32 to USD 110 per night. For Suite Room is started price from USD 60 to USD 300 per night. Moreover, Executive Suite has price from USD 112 to USD 660 per night. Q3 2014 Q3 2015 Q3 2016 Room Rate for 4 Stars Hotel 4.3. Hotel Supply by Stars The increasing number of tourists lead the number of hotel investments in the Country. Currently, we have a total 160 Hotels of 5,462 rooms on the market. Compared to the number of hotel rooms in Phnom Penh and Siem Reap, Preah Sihanouk Province has the least supply than two because of influx of tourists who mostly come from Phnom Penh. Hotel Supply by Stars $700.00 $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 4.6. Room Rate for 3 Stars Hotel Standard Room for 3 star hotels start from USD 10 to USD 80 per night. Twin Rooms start from USD 25 to USD 84 per night, while Triple Rooms range from USD 30 to USD 70 per night and Suite Rooms sell from USD 80 to USD 85 per night. Room Rate for 3 Stars Hotel 2 Stars 3 Stars 4 Stars 5 Stars 4.4. Room Rate for 5 Stars Hotel Rates for Standard rooms start from USD 80 to USD 225 per night while Twin Rooms start from USD 95 to USD 225/ per night. Triple Rooms go from USD 120 to USD 160/ per night while Suite Rooms start from USD 190 to USD 297 per night. In addition to this, Executive Suites are price from USD 225 to USD 675 per night. $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 Standard/Single Twin/Double Tripple

16 4.7. Room Rate for 2 Stars Hotel Rates for Standard Rooms for 2 star hotels start from USD 8 to USD 11 per night. Twin Rooms sell from USD 12 to USD 35 per night, while Triple Rooms has start from USD 30 to USD 35 per night. Room Rate for 2 Stars Hotel $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 Standard/Single Twin/Double Tripple

17 V. Hotel in Battambang Province 5.1. Hotel Supplies by Stars In 2016, Ba ambang Province keyed in a total room supply of approximately 1,500 Rooms of 42 Hotels. Room Supplies 4 Stars 3 Stars 2 Stars 5.2. Hotel Occupancy Rate Our recent research shows, that the occupancy rate decreased from 80% in 2015 to 74% in 2016. Hotel Occupancy Rate 5.4. Room Rate for 3 Stars Hotel Rates for Standard Rooms for 3 star hotels begin from USD 9 to USD 21 per night, Twin Room are from USD 13 to USD 38 per night, Triple Rooms from USD 20 to USD 70 per night Suite Rooms from USD 49 to USD 90 per night. While execu ve suite has price from USD 62 to USD 91 per night. Room Rate for 3 Stars Hotel $100.00 $90.00 $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 Q3 2014 Q3 2015 Q3 2016 5.3. Room Rate for 4 Stars Hotel Rates for Standard rooms for 4 star hotels start from USD 21 to USD 60 per night. Twin Rooms range from USD 30 to USD 68 per night, Triple Rooms start from USD 78 to USD 104 per night while Suit Rooms go from USD 102 to USD 250 per night. Moreover, Execu ve Suite has price from USD 50 to USD 500 per night Room Rate for 4 Stars Hotel 5.5. Room Rate for 2 Stars Hotel Rates for Standard Rooms for 2 star hotels begin from USD 6 to USD 23 per night, Twin Rooms from USD 8 to USD 28 per night, Triple Rooms from USD 22 to USD 57 per night and Suite Rooms is started price from USD 68 to USD 75 per night. Room Rate for 2 Stars Hotel $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 Standard/Single Twin/Double Tripple Suite

VI. Tourism 18 6.1. Number of Tourist Arrival Cambodia s tourism has significantly growth from years to years as the average growth rate 17%. In 2013, the total number of tourist arrival was 4.2 million, while 2014 was 4.5 million and 2015 was increased to 4.7 million and by the end of 2016 we expected that the number of interna onal tourist will increased to 4.9 million. Number of Tourist Arrival 6,000,000.00 5,000,000.00 6.3. Domestic Tourist By Region Phnom Penh is not only tourist des na on but also a hub for business, culture and rich history. Travelers come to Phnom Penh for Holiday & Leisure, Business, to visit friends and rela ves (VFR), Official Mission, MICE (Mee ng, Incen ve, Conven on, and Exhibi on) among others. By 2015, the number of tourists that visited Phnom Penh was 2,650,368 compared to the same period in 2014 where there was a 23% increase. We project that Phnom Penh will have an increase in domes c tourists to 3,000,000 by the end of 2016 while Siem Reap is projected reach 2.5 million, Coastal Zone at 785,000, Eco-Tourism sites at 67,000, and lastly Ba ambang at 176,000 with other sites expected to increase to 193,000 tourists. Domestic Tourist By Region 3,500,000 4,000,000.00 3,000,000 3,000,000.00 2,500,000 2,000,000 2,000,000.00 1,500,000 1,000,000.00-1,200,000 2003 2004 2005 2006 2007 2008 2009 2010 6.2. Major Tourist Arrival Tourists from Vietnam top the list in the number of tourists to visit Cambodia consistently for 4 years where 96% of Vietnamese tourists were seen to travel into Cambodia via land. The first semester 2016, showed 461,761 tourists from Vietnam while 2015 counted 483,503, a slight decrease of 4%. Coming in second are the Chinese tourists with a count of 836,592 by first semester 2016 compared to the same period in 2015 where there was a 13% increase in number. China is deemed to be a poten al source for tourism, where 90% of Chinese tourists, who come into Cambodia, travel by air. According to the Ministry of Tourisim in Cambodia, Chinese tourists would reach to 2 million by 2020. Major Tourists Arrival 2011 2012 2013 2014 2015 1,000,000 500,000 2011 2012 2013 2014 2015 e 2016 1,000,000 800,000 600,000 400,000 200,000 2013 2014 2015 S1 2016

BONNA REALTY GROUP CO.,LTD Head Office: #126, Norodom Blvd(41), Sangkat Tonle Bassac, Khan Chamkarmorm, Phnom Penh, Cambodia. Tell: (+855) 23 861 999 (+855) 23 721 177 (+855) 23 216 556 E-mail: info@bonnarealty.com.kh Sihanoukville: #99, St. Ek Reach, Sangkat 4, Sihanouk Province. Tell: (+855) 34 934 809 E-mail: info.sv@bonnarealty.com.kh Siem Reap: National Road 6, Phum Khnar Thmei, Sangkat Chreav, Siem Reap Province. Tell: (+855) 63 963 399 E-mail: info.sr@bonnarealty.com.kh Battambang: #102, St Nº 3, Group 37, 20 Ousaphea Village, Sangkat Svay Por, Battambang Province. Tell: (+855) 53 953 959 E-mail: info.btb@bonnarealty.com.kh Kampong Cham: #141, Former National Road #7,Phum 07, Sangkat Kampong Cham, Kampong Cham Province. Tel: (+855) 42 942 199 E-mail: info.kpc@bonnarealty.com.kh BUILDING TRUST ASEAN WIDE! Website: www.bonnarealty.com.kh