The new Siem Reap International Airport, which opened on October 16th, may eventually be connected to the center of Siem Reap via modern lightrail if approved. The 50km trip usually costs about $35 by mini-van.
The light rail project, connecting SAI to Siem Reap town, could provide a new alternative, offering significant savings in both time and costHo Vandy, Advisor to Cambodia Association of Travel Agents
China Metro Group would lead the lightrail development project and are currently researching among other challenges, how to avoid disturbing the Angkor Wat archaeological area. The exploration was inaugurated with it’s first meeting on December 26th between Council for the Development of Cambodia (CDC) and China Metro Group with Sun Chanthol, Vice-Chair of the CDC, hosting the event, according to a report in Phnom Penh Post.
Feasibility studies are also underway to connect Techo International Airport (TIA) to Phnom Penh’s central business district.
The introduction of a light rail system connecting Phnom Penh International Airport to central Phnom Penh could have significant positive impacts on the real estate market in the area. Assuming successful completion and operation, we can forecast the following positive catalysts:
- Increased Property Values: Properties located near the light rail stations and along the rail route are likely to see an increase in value. Easy access to public transportation is a desirable feature for residents and businesses, making these areas more attractive.
- Development Opportunities: The construction of the light rail system may stimulate development along its route. Developers may be more inclined to invest in commercial and residential projects, anticipating higher demand due to improved transportation infrastructure.
- Commercial Growth: Businesses, especially those dependent on tourism, could benefit from increased foot traffic and accessibility. Areas around the light rail stations might witness the growth of commercial and retail spaces, contributing to the overall economic development of the region.
- Residential Demand: The convenience of commuting via light rail can make areas along the route more appealing for residential purposes. This increased demand could lead to a surge in the construction of housing developments, condominiums, and apartment complexes.
- Improved Connectivity: The light rail system would enhance connectivity between the airport and central Phnom Penh, making it more convenient for both locals and visitors to travel between these key points. This improved connectivity can make the entire area more accessible and, in turn, more desirable for various purposes.
- Tourism Boost: The ease of traveling from the airport to the city center can attract more tourists, potentially increasing the demand for short-term rental properties such as hotels and serviced apartments in the vicinity of the light rail stations.
- Infrastructure Investments: The development of the light rail system would likely come with additional infrastructure improvements, such as road enhancements, pedestrian walkways, and landscaping. These improvements could further enhance the overall appeal of the areas surrounding the light rail stations.
- Urban Regeneration: The introduction of the light rail system might lead to urban regeneration projects, revitalizing certain neighborhoods and transforming them into more modern and attractive areas.