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Phnom Penh South Real Estate Boom

Phnom Penh International Airport
Phnom Penh International Airport

Phnom Penh continues to stretch its boundaries in all directions but especially southward, driven by developers seeking affordable land and buyers attracted by new developments, including new access roads, mega malls, educational institutions, and the promise of a new, world class international airport.

The rapid expansion of infrastructure in southern Phnom Penh gained attention with the Hun Sen Boulevard project announcement. This area has become a hotspot for various real estate developments due to its growing infrastructure and affordable land.

The Royal Cambodian Government’s decision to establish a new international airport in the south has accelerated development. This move could bring in rail links, new roads, and services for airport travel, paving the way for high-quality residential, commercial, and industrial activities.

Phnom Penh’s Population Growth Fuels Real Estate Opportunities

Cambodia’s recent census reported a population of 15.6 million, with an annual growth rate of 1.4% in 2019, compared to 13.4 million in 2008.

Phnom Penh continues to experience urban population growth, posing challenges for infrastructure and public facilities. The Cambodian Ministry of Land Management, Urban Planning, and Construction introduced the Capital Phnom Penh Land Use Master Plan 2035 to guide sustainable urban development.

Phnom Penh has expanded sixfold to 679 square kilometers in 2019. A World Bank study identified it as one of the fastest-growing urban spaces in East Asia, especially in the south, with ample undeveloped land, fewer constraints, and improved infrastructure.

A recent survey highlighted Chroy Changvar, Chamkarmon/BKK, and Sen Sok as preferred property areas. However, the booming developments in Phnom Penh’s south may raise its ranking as it becomes more connected and developed.

Infrastructure Upgrades in Southern Phnom Penh

Development in the southern part of city extends into Kandal Province and Takhmao, resulting in the construction of bridges, overpasses, and other projects, including:

  • A $36.7 million overpass project at the triple intersection of Samdech Techo Hun Sen, Street 271, and Monivong Boulevard, aimed at easing traffic congestion.
  • Plans for multiple bridges, including three river bridges to enhance traffic flow.
  • A 4-kilometer asphalt road connecting National Highway 2 and Road 271, with two concrete bridges, part of the ING City development project.

The southern region already hosts international schools, mega malls, and entertainment hubs, positioning it as a central hub connected to the new Phnom Penh International Airport. Techo Takhmao International Airport could introduce express bus lanes and a light rail system connecting it to the city.

The airport, set to be one of the world’s top ten largest, is expected to be operational by 2025.

Unlocking the Land Potential in Phnom Penh South

The ongoing growth in residential and commercial areas in the south positions it well for the future. Improved infrastructure, competitive land prices, population growth, urbanization, and investor interest make it a promising area for property buyers and investors in the Phnom Penh real estate market.

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