Compass Real Estate > Cambodia Real Estate Information > Editorial > The new airport economy circle is rising

The new airport economy circle is rising

2020-06-29
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Summary:In recent years, Cambodia has built new airports in several key provinces to meet local economic development and achieve national economic distribution.

Recently, the master plan of the Siem Reap New International Airport has been approved by the Cambodian government. The airport is located in Siem Reap Province, covering an area of 700.06 hectares with an investment of US$880 million. The project is constructed in the form of construction, operation and transfer (BOT). The construction will start on March 15, 2020. The construction period is 3 years and it is expected to be completed in 2023.

Siem Reap is a major tourist town in Cambodia and a major source of Cambodia's economic revenue. Local infrastructure construction is an important part of Cambodia's development. Since the passenger throughput capacity of the existing Siem Reap Airport is nearly saturated, after the completion of the first phase of the new airport project, the annual passenger throughput capacity of the new airport will increase to 7 million passengers. It is expected that by 2030, the annual passenger throughput capacity of the airport will increase to 10 million passengers, will be expanded to 20 million passengers by 2050, after the project is put into operation, it will become an important airport connecting Cambodia to the world.

In addition, an airport city special economic zone will be built near the Siem Reap New International Airport, covering an area of 1,000 hectares. At that time, the overall competitiveness of Siem Reap will be improved greatly, and the new airport economic circle will benefit the most.

At present, there is no large-scale new development in Siem Reap, but the tourism economy has  driven the development of the local rental market and land market. After the formation of the new airport economic circle, more industries will be available and the appreciation of land will be imminent.

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In addition to Siem Reap, Cambodia has built new airports in many key provinces in recent years to meet local economic development and achieve national economic layout. The new airports in Phnom Penh and Koh Kong are also very eye-catching.

Phnom Penh’s new international airport spans Kandal and Takeo provinces and covers an area of 2,600 hectares. It is a 4F-class airport and is the most advanced type of airport. It can take off and land a variety of large aircraft, including Airbus A380 and Boeing 747-800 and other giant passenger aircraft. The construction of the new airport in Phnom Penh, which has cost US$1.5 billion and it is expected to be completed in 2023. After the completion of the new airport, it will be comparable to the international airports in Singapore and Thailand.

Phnom Penh is the capital of Cambodia, a political, business and cultural center. The airport not only undertakes the transportation function, but also displays the image of the capital city of Cambodia. Since the planning and construction of the new international airport in Phnom Penh, the development of the airport economic circle has been very rapid, especially in the areas of Krong Ta Khmao and Kandal Stueng District close to the airport. The land and real estate investment is hot, and it is the earliest area to receive the development dividend of the new airport. After the airport is put into operation, the business district's ability to attract capital cannot be underestimated.

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Dara Sakor International Airport is located in Koh Kong province, the fourth international airport in Cambodia.

The Koh Kong Province is close to the sea and has huge development potential. The Dara Sakor International Airport currently under construction is expected to be completed within 3 years. The airport is located near Dara Sakor Resort and can take off and land large long-distance passenger aircraft such as Boeing 777 and Airbus A340. After the completion of the airport, it will become Cambodia's first 4E-class international airport, and the routes include Southeast Asia, South Asia, Beijing, Shanghai, Guangzhou, Chengdu and other major cities.

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The Dara Sakor International Airport mainly serves global tourists in the Dara Sakor Seaside Tourism Resort, and distributes to Phnom Penh, Sihanoukville, Siem Reap, and bears the rapidly growing demand for international tourists. It is reported that the Dara Sakor International Airport has been included in China's the Belt and Road project. After the airport is completed, it will greatly enhance Cambodia's ability to fly directly to all parts of the world, and then accelerate the development of Cambodia's economy, trade, tourism and other industries.

Currently Koh Kong have few projects, land price is affordable. There are some options.

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