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MeanChey Living Guide –Southern Development Area With The Greatest Investment Potential

2024-04-29
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Summary:Mean Chey used to be a quiet and undeveloped district, but now it has become a famous area which attracting many investment. How is Mean Chey District? Let’s explore together!

Due to the continuous expansion of the capital of Cambodia, Phnom Penh, in recent years, several emerging urban areas have stood out and become more popular, including Mean Chey District, which located in the south of Phnom Penh.

Mean Chey used to be a quiet and undeveloped  district, but now it has become a famous area which attracting many investment. How is Mean Chey District? Let’s explore together!


1. District introduction 

1.1 Regional Overview

Mean Chey District is located in the south of Phnom Penh, with Yothapol Khemarak Phoumin Blvd (271) to the south and Bassac River to the west, covering an area of about 29 square kilometers and has 7 administrative communes (Sangkat), including Sangkat Steung Meanchey 1/2/3, Sangkat Boeng Tumpun 1/2, Sangkat Chak Angrae Leu and Sangkat Chak Angrae Kraom.

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Due to the location at the outskirts of Phnom Penh's urban area, Mean Chey District was relatively underdeveloped area. it gradually developed after year 2000 as many factories and real estate development projects were successively settled. At present, Mean Chey District has gathered a large number of industrial factories represented by garment factories. Moreover, with the Implementation of new Phnom Penh International Airport and other infrastructure projects, as well as the ING City satellite city, it has also attracted many other large-scale development projects. The district has become a hotspot for real estate investment and development, with residential communities and commercial centers constantly being built.

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Meanchey District has a population of over 250,000, mainly locals and people from other provinces who come to work in Phnom Penh. However, with the development of the region, the number of foreigners living in the district has gradually increased as several residential project of Chinese developers have attracted some Chinese live here, and there are also Europeans and Americans who live in the area.

In terms of transportation, this area have many main road such as Hun Sen blvd (60m), National Road No. 2, Yothapol Khemarak Phoumin Blvd (271), Veng Sreng Blvd, Road 371 and Chamkar Doung Street (217) run through the area, making it more convenient, as well as flyovers and cross-river bridges, making travel convenient.

Mean_Chey_Skyline(1).jpeg


1.2 Regional characteristics

As an emerging development area in the south of Phnom Penh, the development of Mean Chey District is closely related to the airport. Whether the infrastructures and supporting facilities that have been completed or under construction or planned, all highlight their full potential.

According to regional development, Mean Chey District is bounded by Road 271-371, the district can be divided into the eastern part and the western part, each of these two parts has its own characteristics and jointly promotes the development of the District.

The eastern area of Mean Chey District is known for southern Phnom Penh, Hun Sen blvd, ING City Satellite City, Morodok Techo Flyover, AEON 3, Peng Huoth, Chipmong...

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The eastern part of Mean Chey District is focus on Hun Sen blvd area. It is the core area of the first phase of the ING City satellite city project. It is also the important way connecting Phnom Penh to the new Phnom Penh International Airport (Techo International Airport).

Although it is an emerging area, the eastern part of Mean Chey District is developing very rapidly. Especially in the past two years, with the opening of Chip Mong 271 Mega Mall and AEON Mall Mean Chey (AEON 3) , gathering a lot of popularity and supporting commercial activity in the area.

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In addition, Chipmong, Peng Hout, R&F, Urban Village... many major Borey and Condominium projects are also being completed and handed over, making the area more hustle and bustle.

There are also infrastructure projects such as Techo International Airport, Morodok Techo Flyover, Chhun Kong Boulevard, and Chak Angre Krom-Prek Pra Bridge. The planned light rail project connecting Phnom Penh to the new airport will also pass through this area. Due to various favorable conditions, this area has become a hot spot for investment.

Stueng Mean chey (4) .jpg

The western part of Mean Chey District can also be divided into two parts, the part close to the Phnom Penh International Airport, is relatively newer, many large industrial parks and factories are concentrated here. In terms of residence, it is mainly Borey community, with modern community businesses such as K Mall; As for the central part, although there are some factories, their scale is relatively small. Residential here mainly self-built linkhouses and shophouses, with fewer high-rise buildings. Commerce centers here are mainly focus on local traditional markets, with a strong local life atmosphere. 


2. Surrounding Facilities

Economics/Commercial

Based on the different development of the east and west parts of Mean Chey District, its business atmosphere also presents different characteristics.

For Hun Sen blvd section, the opening of  AEON MALL Mean Chey (AEON 3) and Chip Mong 271 Mega Mall has promoted a modern commercial atmosphere in the area, with international brands of clothing, shoes, bags, home appliances, electronic products, restaurant, coffee shops, as well as cinemas and children's play ground. etc., bringing modern leisure and shopping experience to residents. 

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In addition, there are Factory, Mean Chey Avenue, 60M Night Market, WB Arena, etc., bringing a richer consumer experience.

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The western part of Mean Chey District is different. As mentioned above, for the part close to the Phnom Penh International Airport, there is modern community business like K Mall, which can basically meet the daily shopping and leisure needs of residents.

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As for the central part, commerce centers here focus on local traditional markets, which are smaller in scale,  such as the new and old Steung Mean Chey markets, Boeung Tumpun Market, Canadia Industrial Park Market, Phsar Ekreach Market, Phsar Solar Market, are places where residents buy vegetables, fruits, fish, meat, clothes and other daily necessities.

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Among them, the new Steung Mean Chey market is relatively modern. Its ground floor is similar to the local market, but the upper floor has cinemas, cafes, restaurants, etc., providing richer shopping experience.

New Steung Mean Chey (7).png

In addition, with the market expansion of major convenience store brands, many supermarkets and convenience stores have been distributed in major streets in Mean Chey District, such as Aeon MaxValue, 7-11, Big C Mini, etc.


Transportation

Along Hun Sen blvd, as it is an emerging area, various supporting facilities are well planned and implemented very quickly, especially the transportation facilities.

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Hun Sen Blvd was developed by ING International Group. Construction started in March 2011 and was officially opened in April 2017. This road starts from the intersection of Monivong Blvd and Road 271 in the north and directly connected to National Road No. 2, with 9 kilometers long and 60 meters wide, runs through the ING City satellite city, it is the widest road in Phnom Penh. A "Morodok Techo" flyover was also built at its starting point to improve road traffic capacity and alleviate traffic congestion. Recently, the first phase of the project has been completed and opened to traffic.

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Chhun Kong Boulevard, the horizontal central axis of the southern area, connects to Road 217 in the west, passes through AEON Mall Mean Chey and intersects with Hun Sen Blvd, continues to extend eastward, and finally intersects with National Road No. 2. The road is 4 kilometers long and scheduled to be completed by the end of this year.

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Prek Pra Bridge, the across the Bassac River (Chak Angre-Prek Pra) ,started construction in February this year, total length 1,650 meters, with $60.2 million investment concessional loan from the Chinese government, and it is expected to be completed in 2027.

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In addition, the Phnom Penh ring road 2 also passes through this area and connecting  to Chbar Ampov District, Sen Sok District, Russey Keo District, and Chroy Changvar District. There is also the planned Phnom Penh light rail , which will not only pass through this area, but will also connect to Techo International Airport.

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The transportation facilities along Hun Sen Blvd can be quickly connected in any direction and area. Moreover, the roads are spacious, making the travel more convenient.

In other areas, there are Yothapol Khemarak Phoumin Blvd (271) , Veng Sreng Blvd, Road 371, Chamkar Doung Street (217) and other sub-main road. The overall situation is relatively convenient, but in It is also prone to congestion during rush hours.


Food

Like other areas, Mean Chey District also has a lot of restaurants, mainly Khmer cuisine, as well as Chinese food, Western food, BBQ, buffets, etc. Coffee shops, milk tea shops and other beverage shops also easy to be found here. In addition, major shopping malls and night markets will bring you a richer food experience.

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Hot Pots or buffets and other daily meals can be found at Hai Lao Hot Pot, ichiban buffet, Pasta Corner, Little Duckling, The Pizza Company, Park Cafe, Jumbo Seafood Bulgaria, LyLy Buffet BBQ & Soup, etc. Drinks include Gloria Jean’s Coffee, Cafe Amazon, Brown Roastery, Ancha Taiwan Milktea, Tube Coffee, etc.


Government Departments 

In terms of government institutions, Meanchey district is home to the Ministry of Women's Affairs, General Commissariat of National Police, Gendarmerie Royale Khmere (Toul Pongro), Royal Gendarmerie of Phnom Penh, General Directorate of Animal Health and Production, Ministry of Industry, Science, Technology & Innovation, Department of Hydrology and River Works, Cambodia National Mekong Committee, as well as local authorities including: Stung Mean Chey 3 Commune Hall, Post Dela Police-ADM Boeung Tumpun 2, Chak Angre Leu Commune Hall...

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Medical

In terms of medical facilities, Khmer-Soviet Friendship Hospital is the largest public hospital in Mean Chey District. In addition, There are also Chak Angre Health Center, Steung Meanchey Health Center, Orienda International Hospital, Standard Polyclinic, Zhong Sing Hospital, Sorphear Maternity Poly Clinic Meanchey, Medic Clinic, Sachak Clinic and other private clinics.

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Education

Mean Chey District has a large population and covers a large area, therefore it also rich in educational resources. Public schools here including Chak Angrae Kraom and Chak Angre Leu Primary Schools, Steung Meanchey Primary School, Sorla Primary School, Hun Sen Chak Angre High School, Chea Sim Samaki High School, etc. 

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Private schools include International School of Phnom Penh (ISPP), The Northline School, The Westline School, Luxury International School, CIA FIRST International School, Pannasastra International School, SIS International School, Cambodian University for Specialties, National Institute of Business, AII & AIS, National Institute of Social Affairs (NISA), etc providing a variety of choices of educational.

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Leisure

There are many leisure destinations in Mean Chey District. For example, Factory Phnom Penh and Fly Phnom Penh are great places for young people to ride bicycles, trampolines, play music and other sports activities.

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In addition, in parks such as Canadia Park, Stung Meanchey Flyover public park, Borey Peng Huoth Children's Park, and MC Park…are places for people of all ages to workout, play badminton and chill out, creating a bustling atmosphere. Moreover, the night markets mentioned above are good places for you to enjoys street food and have fun with partners, family or friends at the weekends.


3. Real estate Market

Mean Chey District is an investment hotspot with great potential and is very active in the real estate market, especially the residential development projects but most of them are concentrated in the Hun Sen Blvd.

3.1 New development project

There are many large and small development companies gathered along Hun Sen Blvd and mainly Borey communities, such as Chip Mong, Borey Piphup Thmey, Peng Huoth, etc.,  with various types of villas, linkhouses, shophouses, etc. There are relatively few condominium residential projects here, including R&F City, Urban Village.

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The sales information of some projects is as follows:

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3.2 Rental market

Compared with several areas in the center of Phnom Penh, there are relatively few rental apartment in Mean Chey District, and the prices are more affordable, with average monthly rents ranging from $350 to $1,000. 

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According to the Apartment Channel data on COMPASS.COM.KH, the following price list of apartments is as follows:

- Affordable apartment with rent from $200-$550/month

- Mid-range apartments range in rent from $350-$850/month 

- High-end apartment rental price from $550-2500/month


The following is a table of the above apartment ranks in Mean Chey district with the most searches on COMPASS.COM.KH:


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Since there are many landed properties in the area, in addition to rental apartments, the prices for other types of rental properties are as follows:

- Villas rent from $900 to $15,000 per month, have 4–21 bedrooms, with size of 72 to 1,600 square meters.

- Shophouses for rent start at $1,000–$4,000 per month and have 1–4 bedrooms in sizes 72–500 square meters.

- As for the townhouse, the rent is between $350 to $2,600 per month, have 4–13 bedrooms, with size of 44 to 220 square meters.


3.3 Second-hand housing market

According to the data on the real estate website COMPASS.COM.KH, the housing market (second-hand houses) in Mean Chey District (near Hun Sen Blvd) has the following prices:

- Villas  prices from $220K–$5.5 million, sizes ranging from 112 to 1,500 square meters with 4-12 bedrooms.

- Shophouse prices from $260K-$2.6 million, sizes ranging from 94 -425 square meters with 4–8 bedrooms.

- Townhouses prices from $74K-$260K, sizes ranging from 60-89 square meters with 3-5 bedrooms.

- Apartment units prices from $40K to $210K, with studios to three-bedroom types of 38–116 square meters in size.

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3.4 Land market

According to the land price report in various districts of Phnom Penh for the first half of 2023 released by the Cambodian Valuers and Estate Agents Association (CVEA), the average land price near the main roads in Mean Chey District is about $2,725/㎡, and the average land price near the Sub-main roads is about $1,112/㎡.

Land prices near main roads in the communes of Steung Meanchey are the highest, reaching $4,400 per square meter, but are still slightly lower than in the first half of 2022.

the lowest land price near sub-main roads in the communes of Boeung Tumpon is only $550 per square meter.


The land prices in various communes of Mean Chey district are as follows:

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Overall, although Mean Chey was previously an obscure suburban district, due to the planning of the ING City satellite city and the implementation of many major infrastructure project, the appearance of Hun Sen blvd area has undergone tremendous changes, and it will also promote the development of the entire Mean Chey District.

Nowadays, the real estate market in this area, especially the Hun Sen Blvd, is growing in popularity, which is a good opportunity for long-term investment and property purchase.


About ING City


It should to mentioned that, “ING City” covering an area of 2,572 hectares. It is the largest satellite city in the southern part of Phnom Penh, it was invested and developed by Neak Oknha Ing Bunhoaw's ING Holdings company. This massive satellite city project covering three districts (Mean Chey, Dongkor, and Kandal province’s Takhmao City) and will be developed in four phases.

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Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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