Speaking to students at Pannasastra University of Cambodia nine years ago, legendary Khmer architect Van Molyvann urged Phnom Penh real estate development along the city’s south.
“I think that if the city develops to the south it is better than to the west as the south is an area that is higher above the river, which is key to avoiding floods.”Van Molyvann, August, 2012 via Phnom Penh Post
Now with $2 billion dollars worth of infrastructure development being pursued in Phnom Penh‘s southern edge, the great architect’s sage advice proved prescient — and lucrative. Nowadays, global real estate consultancy CBRE is also urging Phnom Penh real estate investors look into the region.
“Due to the physical geographic boundaries surrounding Phnom Penh, expansion into the south is inevitable. With large scale infrastructure development ongoing, the south’s pre-eminent position is clear.”James Hodge, CBRE Cambodia Managing Director
Areas that should be considered include around Phnom Penh International Airport, Meanchey, Dangkao, Takhmao, Saang and Kandal Stueng. Well-known Phnom Penh real estate projects in the area include Aeon 3, Urban Village and 271 Mega Mall. You may not think there is much time left but as Phnom Penh and Cambodia at large is still in the middle of rapid development, there is in fact not a better time.
“It’s an opportunity. Prices went down compared to one year ago but there’s not enough exposure to the international market,” he said.Alan Neo, CEO, PropNext Cambodia