In Which Phnom Penh Area Will Property Development Potentially Grow Fast?

  • by Srun Mengkiang
  • 9 months ago
  • 0
Which areas will the property development grow fast in Phnom Penh?

Phnom Penh, the nation’s busy capital and growth hub, has a rapidly expanding population of 3 million. Phnom Penh is where most important economic and political events take place.

Phnom Penh’s resemblance to Bangkok about thirty years ago is a common perception among long-time Southeast Asian tourists and locals.

The Southern Districts: Phnom Penh’s Future

The introduction of the Hun Sen Boulevard sparked a wave of curiosity in Phnom Penh’s southern suburbs, which have continued to grow in the past five years.

The area is rapidly positioned to become the dominant destination for future expansion in all property categories through expanding infrastructural development and a supply of inexpensive land.

Cambodia’s intention to build an international airport to the city’s south is expected to drive this tendency further southward.

There is a lot of potential for growth in this area because of this infrastructural investment, the emergence of multiple new cities, and fledgling industrial activity.

Its private sector has some opportunity to fundamentally alter the trajectory of Cambodia’s growth in Southern Phnom Penh and the city as a whole. Southern Phnom Penh is a well-defined geographical area.

The South

Dangkao and Mean Chey, two of Phnom Penh’s most southern districts, make up southern Phnom Penh. In addition to Takhamo, Saang District, and Kandal Steung District, the study covers all of Kandal Province.

These areas have had tremendous growth, stable population increases in recent years, and significant infrastructure investments.

Together, these developments are putting this region in a position to become a new economic artery for the country, including commercial, residential, and industrial development in the future.

Daun Penh

The central business centre of Phnom Penh is Daun Penh. Central Market, the primary business district, various riverbanks, government buildings, and Wat Phnom are located here.

My forecasts, Daun Penh will be the first of Cambodia’s capital’s three fastest-growing wards. The riverbank neighbourhood of Phnom Penh is home to some of the most expensive real estate in the country, not only Daun Penh.

Of course, property prices here are still a sliver of what you’d pay for a riverfront condo in Bangkok or Saigon. Phnom Penh’s financial area is home to the city’s tallest skyscrapers, with more under development.

Low-rise development won’t be permanent in this area of town for much longer. In the not-too-distant future, Phnom Penh’s colonial residences will be replaced by office towers and malls.

Seven Makara

Seven Makara is located west of Chamkar Mon and Daun Penh and away from the riverbed. However, I believe that Phnom Penh’s future growth will be concentrated in this city area as urbanization proceeds.

Cafes are springing up left and right. Burger King, Cold Stone Creamery, and Krispy Kreme are just a few of the international chains that have recently opened in this country.

It’s easy to understand why 7 Makara will likely be gobbled up by the city core in the next ten to fifteen years. As a result, property values would rise to those found in the city’s core.

Some sites west of Seven Makara have the potential to be developed.

Wrapping Up

Phnom Penh’s real estate market will boom as the city grows in the next five years.

The Boeung Keng Kang sector of Phnom Penh, with its numerous skyscrapers, will continue to be an excellent CBD.

Tuol Kork, on the other hand, is moving closer to Phnom Penh’s central business area more quickly. Increasing numbers of retail stores, supermarkets, and skyscrapers are springing up across the neighbourhood, transforming it from a residential to a commercial hotspot.

In five years, more new apartment complexes in Phnom Penh and many prospective regions will be able to claim more development projects, such as resorts, holiday villa programs, and many other projects.

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