The latest development of Sihanoukville

Sihanoukville will be the foreign investors destination and global trade port city if the development of Sihanoukille governed by strict governance to promote the diversification. And improving the reputation of Sihanoukville to enhance SIhanoukville became the goal of foreign investment and global trade port city.

CBRE released the report of the analysis of first half year of real estate in Sihanoukville evaluation, which analyze the impact of Sihanoukville fast development on real estate for recent years, and the future trend of real estate and investment potential in Sihanoukville.

According to the report, the government issued a ban on online gambling in August 2019 and government recently passed the "Law on Gambling" draft, showing that the government has realized that the rapid development of Sihanoukville is unsustainable and government is determined to rectify and control the previous fast development chaos.

With the new control measure and policy, the growth potential of Sihanoukville could be use properly, and the growth should be based on wider diversification development, to ensure the sustainability and makes people get benefit.

Hotel and gambling industry turns high end

As the famous resort, stat rated hotel project are built recent years in Sihanoukville.

According to the report, there are 6100 rooms from above 3 stars hotel and resort, 45% are with 3 stars.

Sihanoukville are selected to build integrated resort, it will help the Sihanoukville gambling industry to turns into high end market.

Apartment supply will exceed 10,000 units

“We predict that by the end of 2021, the supply of condominiums will reach more than 11,000 units, especially affordable condominium units. "

It stated that there is a huge gap in the selling prices of Sihanoukville condominiums, with affordable units cheaper than US$1,000 per square meter, while high-end projects cost US$4,100 per square meter or more.

"The target buyer group is mainly Chinese. However, in recent months, developers have turned to domestic and other Asian markets to expand the range of potential customers in response to the impact of the epidemic."

Land price still increasing

Land transaction are reduced compare with last year due to the ban of gambling and epidemic, that makes investors cannot get latest land transaction of price for reference.

However, with the improve of infrastructure, and the scarce land source in coastal area and downtown in Sihanoukville, landlord are positive about land market.