The Tuol Tompoung area is transformed from a quiet residential area into a commercial center

Real estate experts claim that Toul TomPoung is not unlike the past three years, but it is showing the potential of the construction sector, pushing the price of land and real estate to grow as high as possible. It is said that it is progressing slowly following the Boeung Keng Kang 1 area.

Director General Pointer Property Co., Ltd. Ltd Mr. Nguon Chhay Leang said by telephone in the evening of May 23, 2019 that Tuol Tompoung is now more potential and attractive than some neighboring areas in Chamkarmon together. He added that the territory located in Toul Tompung 1 commune now has grown and developed into a number of reparations such as condominiums, apartments, offices, which are mostly marketed by foreigners compared to Cambodians. The situation in BKK1 was three years ago.

“Regardless of the type of apartment or office building, even the food service sector also has a number of Western outlets, while the growth of the number of foreign nationals staying in the long term as well as visitors. Short-term tourist arrivals have been increasing steadily.” he added.

Mr. Nguon Chhay Leang continued all these reasons, a factor driving the need for land use to develop a large residential complex. In fact, there are now some investors who have been transforming from a small size villa or plot of land to develop high rise buildings from 10 floors upstairs.

He said land on the main road could cost about $ 4,000 per square meter as last year, the land at the same site was worth $ 3,000. Particularly, land in small roads can cost between $ 2,500 and $ 3,000 per square meter.

Similarly, Okhna Teng Rithy, general manager of the R Investment Group, acknowledged that the Toul TomPoung area currently has really improved its construction. Tuol Tompoung is a great geography, especially tourism in Phnom Penh because most foreign tourists have known the reputation of the market (Russia Market) since they have not arrived in Cambodia. Make the region more international tourists.

He continued "The Tuol TomPoung Market is mostly filled with foreign tourists, as the market sells Khmer-style souvenirs as a local produce market”. "When countries with high international tourist arrivals are in need of accommodations, there is a need for other services, such as food supplies," he added.

Ouknha said that Tuol Tompoung now looks like Boeung Keng Kang 1 in the last couple of years and soon will continue to develop like BKK1 today, obviously now for the land price at some locations. In the Tuol Tompoung 1 area, there is already $ 3,500-5,000 per square meter.