Mekong Quay City project, a joint venture between TP Moral Group and Khun Sea Import Export Group, is set to transform Arey Ksat—a 210-hectare area along the eastern bank of the Mekong River in Kandal, just across Phnom Penh — into a built-from-scratch urban oasis with riverfront views.
Think of it as Williamsburg in Brooklyn, facing incredible views of Manhattan.
Prime Minister Hun Manet, during the groundbreaking ceremony on December 17, 2024, emphasized that this development signifies a resurgence in Cambodia’s real estate sector and aligns with the nation’s economic aspirations. He envisions Arey Ksat evolving from an agricultural region into an industrial and service center comparable to Phnom Penh. Key infrastructure projects, including a South Korean-funded bridge and potential underground tunnel, are planned to enhance connectivity and stimulate economic growth in the area.
Arey Ksat Prices Still Low
Real estate experts, such as Dith Channa, CEO of Lucky Realty Co., Ltd, note that current land prices in Arey Ksat are relatively low compared to Phnom Penh, primarily due to limited connectivity. However, with the planned infrastructure developments, significant appreciation in property values is anticipated, potentially transforming Arey Ksat into a prime location for residential and commercial investments.
While no completion dates were provided, the Mekong Quay City project is undoubtedly poised to play a pivotal role in Phnom Penh’s real estate landscape, driving urban expansion, enhancing economic activity, and contributing to the city’s status as a regional powerhouse.
