NovR&F Properties (Cambodia) Co., Ltd.
R&F operates in Cambodia through local development companies tied to the wider Guangzhou R&F Properties group. The group entered Phnom Penh in 2017, and its 2025 reporting still lists Cambodia as an operating market with two residential development properties in the capital. A buyer should nevertheless treat the R&F brand and the contractual seller as separate questions: the entity signing for a specific unit may be a Cambodian project company rather than the listed parent.
A company name is not a recommendation. Check the project company, contract and selected unit before reservation.
Overview
R&F operates in Cambodia through local development companies tied to the wider Guangzhou R&F Properties group. The group entered Phnom Penh in 2017, and its 2025 reporting still lists Cambodia as an operating market with two residential development properties in the capital. A buyer should nevertheless treat the R&F brand and the contractual seller as separate questions: the entity signing for a specific unit may be a Cambodian project company rather than the listed parent.
Track record
The Cambodian business leaves a larger public trail than many single-project developers. Local marketing has centred on R&F City and R&F Glory, and Cambodia's official IP gazette records both marks in the name of R&F Properties (Cambodia) Co., Ltd. The completion record needs closer reading, though: Realestate.com.kh currently describes R&F City as 100% constructed with a 2021 completion year, while the parent group's 2025 annual report still lists Phnom Penh R&F City and Phnom Penh R&F Prosperous Residence as development properties with uncompleted floor area. Buyers should verify the exact building and unit rather than relying on a project-wide completion label.
Segments and prices
R&F's Cambodia portfolio is concentrated in large urban residential and condominium developments. The current Realestate.com.kh profile for R&F City shows 33 floors, 5,237 units and an asking price from US$70,000; that figure is a live marketplace indication, not a guaranteed developer price. Unit selection should therefore be based on a current quotation that also states size, condition, fit-out, handover charges and recurring management costs.
Geography
The verified Cambodian development footprint is Phnom Penh. R&F's 2025 property list names Phnom Penh R&F Prosperous Residence on Monivong Boulevard and Phnom Penh R&F City on Hun Sen Avenue. The sources reviewed do not support a comparable development track record for this Cambodian operation outside the capital.
Reliability and public record
The main transparency advantage is that Guangzhou R&F Properties is publicly listed and produces detailed financial disclosures. Those disclosures also contain a material risk signal: the auditor issued a disclaimer of opinion on the 2025 consolidated financial statements because of multiple going-concern uncertainties; the group reported an attributable loss of about RMB16.4 billion, with current liabilities exceeding current assets by about RMB47.0 billion, while debt restructuring remained in progress. None of this proves a defect in a particular Cambodian unit, but it makes project-level due diligence more important, especially the local contracting entity, building status, payment route and any claimed parent-company support.
What to verify
Before signing, identify the exact Cambodian seller and developer named in the contract. Group disclosures have used R&F Properties (Cambodia) Co., Ltd. alongside project entities carrying HS and MNV designations. The marketing name should also be reconciled with the legal project name: for example, the parent report uses Phnom Penh R&F Prosperous Residence for the Monivong Boulevard scheme, while local materials market R&F Glory. Because public sources differ on completion status, obtain building-specific evidence such as occupancy approval, registrable title documentation, common-area status and actual handover records. A foreign buyer should also confirm that the unit is in a qualifying co-owned building, is above the ground floor, remains within the foreign ownership quota and can be registered in the buyer's name; Cambodian rules cap foreign ownership at 70% of the total surface area of private units in such a building.
Projects in the NovAsia catalogue
This list is assembled from the project registry by the developer identifier; it is not a claim of a complete corporate portfolio.
Photo: specific to the project R&F City page on Rumavi
Photo: NovAsia project-page materialsFrequently asked questions
Is R&F Properties Cambodia part of Guangzhou R&F Properties?
R&F's public filings confirm group operations in Cambodia, and earlier annual reports specifically listed R&F Properties (Cambodia) Co., Ltd., R&F Properties HS (Cambodia) Co., Ltd. and R&F Properties MNV (Cambodia) Co., Ltd. as Cambodian subsidiaries. For a purchase, however, the decisive document is the contract: it should show which entity owes the buyer the delivery, title and other obligations.
Can R&F City be treated as fully completed?
One market profile says yes: Realestate.com.kh shows 100% construction and a 2021 completion year. The parent's 2025 annual report, however, still carries Phnom Penh R&F City as a development property with uncompleted floor area. Those statements may refer to different phases or components, so the relevant tower and unit need their own verification.
Can a foreign buyer own an R&F condominium unit in Cambodia?
Cambodian law allows qualifying foreigners to own private units in co-owned buildings above the ground floor, subject to the foreign ownership cap and title-registration requirements. For a specific R&F unit, confirm the building's legal status, remaining foreign quota, floor level and whether title can be registered directly in the foreign buyer's name.
Sources
Sources are named for independent checking. NovAsia does not publish outbound links.
- Guangzhou R&F Properties Co., Ltd. / Hong Kong Exchanges and Clearing Limited · Guangzhou R&F Properties Annual Report 2025 — group financial position and Cambodia property list · 27.08.2026
- Realestate.com.kh · R&F City project profile — current status, specifications and asking price · 27.08.2026
- Realestate.com.kh · R&F Properties (Cambodia) Co., Ltd. profile — local company and two stated developments · 27.08.2026
- Realestate.com.kh · R&F Phnom Penh sales centre opening and R&F Glory launch · 27.08.2026
- Department of Intellectual Property, Ministry of Commerce, Cambodia · Official IP Gazette — R&F City and R&F Glory marks · 27.08.2026
- Council for the Development of Cambodia · Law on Providing Foreigners with Ownership Rights in Private Units of Co-Owned Buildings · 27.08.2026
- DFDL · DFDL Cambodia Real Estate Investment Guide 2025 — 70% foreign ownership cap by private-unit surface area · 27.08.2026