Which areas in Phnom Penh should be chosen for real estate investment?

Phnom Penh, the bustling capital of Cambodia, has changed rapidly over the years. The city is constantly evolving with the construction of infrastructure, increased urbanization, and economic growth potential. This rapid change has opened up many opportunities for investment, especially in the real estate sector.

Today, Compass will introduce some emerging areas that are suitable for investment in Phnom Penh to help those who want to buy real estate decide easily and choose a location quickly.

1. Chroy Changvar 

Chroy Changvar district is located northeast of Phnom Penh, with a favorable geographical location, accompanied by two rivers, the Tonle Sap River and the Mekong River. Over the years, it has rapidly transformed into an area with great potential for both real estate and civilized living.

Currently, Borey projects, shopping malls, apartment buildings, and condominiums are popping up everywhere in this district. In fact, well-known condominium developers such as Morgan EnMaison, Wealth Mansion, La Vista One, The Peninsula, and Mekong View have invested in their projects in this area.

Along National Road No. 6A, there are many large borey projects gathered, such as Borey Chip Mong Park Land 6A, Borey The Flora, Orkide The Botanic City, Borey Peng Huoth, Borey Nadi, Borey Blue Diamond, Borey Vimean Phnom Penh, Borey Mekong Land, and so on.

What is more special is that the district has two satellite cities: "Chroy Changvar Satellite City," which was invested by OCIC with high-rise commercial buildings, aristocratic houses, restaurants, retail markets, entertainment centers, conference halls, etc.; and "Ly Yong Phat Satellite City," which was invested by Ly Yong Phat Group and has a win-win historical monument, Morodok Techo Stadium, Garden City Water Park, and Phnom Penh Safari.

Including the infrastructure of major bridges such as the Cambodia-Japan Friendship Bridge, Russey Keo Cable Bridge, Prek Pnov Bridge, and Cambodia-Korea Friendship Bridge, which are planned and built to facilitate traveling to various areas. In addition, there are supermarkets such as Makro 3, Bayon Supermarket, AEON MaxValu, Lucky Express, Mart 7-11, and Thailand's Big C (under construction) in the area, which makes life easier and more bustling.

2. Samdech Techo Hun Sen Blvd

Another area that has high attractiveness and potential for the real estate sector is Samdech Techo Hun Sen Blvd., or 60-meter road.

Over the years, the Samdech Techo Hun Sen Boulevard area has undergone the most dramatic changes and has become a new investment destination in the south of Phnom Penh. There is the ING City project; next is Aeon Meanchey Shopping Mall, and Chip Mong 271 Mega Mall has opened consecutively. With the infrastructure project, the bridge across the Tonle Bassac River (Chak Angre Krom-Prek Pra) and the Morodok Techo flyover will make it easier to travel to this area.

In addition, Samdech Techo Hun Sen Blvd. is also the main road connecting to the Techo Takhmao International Airport, which is under construction. Famous Borey projects such as Borey Chip Mong, Borey New World, and Borey Peng Huoth and large condominium projects such as Urban Village and R&F City are also present along Samdech Techo Hun Sen Boulevard.

All these are the factors that make the real estate market on Hun Sen Boulevard have high potential and grow in the future. Now is a good time to buy real estate in this area, whether it is for living or investing.

3. Toul Kork 

Toul Kork district is known as one of the most popular areas for living and doing business. Because it is located in the center of Phnom Penh, which is busy and rich in many development projects and infrastructure such as high-rise commercial buildings, international schools, residential buildings, shopping malls, and many business activities.

Because it is a highly developed area, more and more real estate investors are focusing on this district.

This district is rich in many famous residential buildings, such as Time Square Condominium, Toul Kork Lane Condominium, TK Star Condominium, and Royal Platinum Condominium, as well as commercial centers such as TK Avenue, Fun Mall, SAMAI Square, etc. These buildings are located in Sangkat Boeung Kak Ti 1 and Sangkat Boeung Kak Ti 2.

Moreover, the area is adjacent to the Phnom Penh City Center (Boeung Kak) commercial area with Eden Garden Mall and Khalandale Mall, making daily life easier.

However, real estate in Toul Kork is cheaper compared to other top districts, which makes it more attractive to investors. The continuous growth of the population in Toul Kork has led to the development of trade and increased investment potential in the area; therefore, Toul Kork is a better area for investment and living.

4. Boeung Keng Kang 

The Boeung Keng Kang Ti 1 area is also known as the CBD, a complex of commercial buildings, offices, foreign embassies, condominiums, and high-rise apartments. One of the most important factors is the large number of expats living there that you should consider investing in for future profits, especially condominiums, which are a good choice in the real estate sector to live in a modern and comfortable way.

Due to its central location and convenient access to Koh Pich, as well as Aeon Mall and other landmarks, Boeung Keng Kang has become a popular destination for real estate investment.

Currently, we see that most of the big condominium projects are concentrated in Boeung Keng Kang 1, such as Le Condé BKK1, Time Square, The Flora Suites, Picasso City Garden, and so on. Real estate prices, especially land prices in the Boeung Keng Kang I area, are rising sharply in various districts and will lead to less development of large projects. Therefore, it is a good option if you can buy real estate in this area now and get a high return on investment in the future.

5. Koh Pich

Koh Pich used to be a swampy area. Under the development of OCIC, it has become a prominent satellite city and a bustling riverside residential and commercial area in Phnom Penh. 

Today, Koh Pich is rich in luxury residential buildings, large and small commercial centers, convention and exhibition centers, and international schools, including CIS and EFI schools; parks and entertainment venues such as Coconut Park, Trillion Park, and the DIB Club, where people can go for coffee, hang out, and relax. In addition, the newly opened Connexion Green Center building, combined with its location near Aeon Mall 1, can provide a lot of convenience for those living in the area.

Famous projects on Koh Pich include Diamond Bay Garden, The Elysée, Elite Town, Morgan Tower, and Wonder Mesong, which offer a high-end living environment with modern amenities.

6. Norea Island

The Norea Island Development Project in Chbar Ampov District has been authorized by the Royal Government of Cambodia to OCIC to become a new smart satellite city on an area of approximately 125 hectares, similar to Koh Pich, that is to create an industrial economic zone as planned.

The area is currently attracting Singaporean investment firm AKRAM Development to buy more than 3.5 hectares of land to develop its top-of-the-line luxury project, named Norea Cove Residences.

In addition, Koh Norea plans to build one of the tallest buildings in the area at a height of 555 meters. The company also built the 4,200-meter-long "Koh Norea Parkway" along the Lower Mekong River, which is now the most beautiful and longest park in the country for people to visit every day.

With the infrastructure of the concrete bridge connecting Koh Pich to Koh Norea satellite city and the twin dragon bridges connecting National Road No. 1 to Koh Norea satellite city, it will make the Koh Norea area more lively and easy to travel to. The real estate market there is likely to grow at a faster rate in the future.

7. Sen Sok 

Sen Sok district is also a potential area for real estate development due to the improved infrastructure as well as the development of many supermarkets such as Aeon Mall Sen Sok City, Makro, Global House, Chip Mong Sen Sok Mall, and other commercial centers.

On the other hand, many real estate investors are interested in Sen Sok district because the price of land is still affordable. If they invest from now on, it will make the price even higher in the future. According to a report by a local real estate company, by 2020, Phnom Penh will have a total supply of nearly 64,000 housing units. Most of the housing projects are in Sen Sok district, with a market share of 23%, or 14,690 units.

As you can see, well-known projects such as Borey Prince One Tropica, Borey Arata Garden Residence, The Eco Residence, Borey Peng Huot, and Borey Chip Mong Sen Sok are all concentrated in Sen Sok district. Condominium projects include Orkide Royal Condominium, Romduol City, Star City, Phnom Penh Galaxy Garden, The Garden Residency 2, North Park Condominium, etc...

The real estate market in Phnom Penh offers many investment opportunities in each region, with different features and potential. For example, Boeung Keng Kang I and Koh Pich are ideal areas for investors looking for high-end properties, especially condo projects with a vibrant urban lifestyle. Toul Kork and Sen Sok districts offer opportunities for those interested in affordable options with strong potential for growth. The area of Hun Sen Blvd and National Road 6A in Chroy Changvar district is a recommended area for those who want to buy landed properties, which are Borey projects, whether it is an investment or for living, while Koh Norea is a good area for long-term investment.

Based on careful consideration of the features of each area and an understanding of market needs and trends, investors can make the right decisions and benefit greatly from the growth of Phnom Penh's real estate market.