Southern Phnom Penh sees Potential for High Reward

Admin 03/June/2022 04:11

The southern part of Phnom Penh, from the 60-metre street to the under-construction of $1.5 billion new Phnom Penh international airport, is strategically considered to be potential for future high payoffs in the next three years, real estate insider has said.

Before the announcement of the new Phnom Penh international airport, the price of land in these areas used to be an average of $100 per sqm. However, the price surged after the launch of this mega project in 2019, according to Ken Lo, CEO of Century 21 Imperial Realty.

“The south section of Phnom Penh has a promising future of high payoff in the next 3 to 5 years, since it is soon become an area for both commercial and residential,” he said.

According to him, Sen Sok district, a northern part of Phnom Penh, would be a benchmark to experience a rapid growth in the commercial and residential sector. The momentum development is moving to the south, where is expected to see more people inflow to these areas as more enormous projects are drawing near completion, including Aeon Mall, PH Diamond Place, and Chip Mong 271 Megamall. The inflow of people to this part of the city will urge prices of land to increase, and potentially attract a high number of developments.

When combined, the two major districts – Meanchey and Dongko – boasts a total population of 296,182 people, according to Century 21 Zillion Holding based in two districts.

The same source showed that, the price of land in Mean Chey district surrounding the areas of road 271 and 217 ranging from $2750 to $4750 per sqm. In contrast to Meanchey district, Dongko has a lower price range with an average of $110 to $1700 per sqm.

Located in the area of road 60, Meanchey and Dangko district is a connecting point between Phnom Penh and the new Phnom Penh airport. The project is being built on a 26100 hectare of land, vastly laid across Kandal (Ta Kmao and Kondal Steung district) and areas of Takeo province (Bati commune). Its first phase is slated to be ready by 2023.

The new Phnom Penh international airport construction project is divided into 3 phases, with the first phase is slated for completion by 2023. The second one is estimated to be ready by 2030, and the last phase extended to 2050.


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