Logo of Phnom Penh Post newspaper Phnom Penh Post - Insiders rejoice as expressway project puts Bavet on fast lane



Insiders rejoice as expressway project puts Bavet on fast lane

Content image - Phnom Penh Post
The 135km road will begin in Phnom Penh and end at the Bavet-Moc Bai Border Gate. Photo supplied

Insiders rejoice as expressway project puts Bavet on fast lane

A technical feasibility study of the Phnom Penh-Bavet Expressway project is progressing smoothly, setting high hopes among real estate insiders that the new route would underpin the potential of Bavet town’s burgeoning real estate market.

The update was revealed at a meeting between representatives of Beijing-based China Railway International Group Co Ltd, which is conducting the study, and the leadership of the Ministry of Public Works and Transport.

Ministry secretary of state So Victor, who chaired the meeting, noted that the study highlighted “three road options” that the ministry and government must thoroughly assess.

The company’s financial analysis report that is due in mid-October will be used as a basis for the decision, he said without elaborating further.

Real estate investment agency Khmer Foundation Appraisals Co Ltd president and CEO Noun Rithy told The Post on Wednesday that the high-speed road would not only improve the transport sector, but also the real estate market, especially in Bavet town.

Bavet is Svay Rieng province’s number two urban centre and shares a border with Vietnam’s Tay Ninh and Long An provinces.

It comprises five communes – Bati, Bavet, Chrak M’tes, Prasat, Prey Angkunh – that are further divided into 35 administrative villages, and has emerged as a centre for development projects such as casinos, hotels, restaurants and special economic zones.

Rithy said the infrastructure system is closely tied to the real estate market. More roads translate to more traffic and a greater number of people living and doing business along them.

He said: “The additional construction of new roads, especially highways, augurs well for the real estate sector, especially in Bavet, which could become an important hub between Cambodia and Vietnam.”

He said real estate currently sells for under $1,000 per sqm at Bavet’s prime locations and for $5 in remote agricultural areas.

Meanwhile, Global Real Estate Association president Sam Soknoeun claimed that the expressway would bring the momentum of the town’s real estate on par with Sihanoukville’s today.

“Given that Bavet is at the terminus of the road, its real estate market is set to quickly balloon,” he said.

He cautioned, however, that everything hinges on government policy centred on wooing more investors to investment areas.

In a bid to speed up construction of the expressway, Prime Minister Hun Sen on July 15 set up a 17-member inter-ministerial committee to oversee the project, with transport minister Sun Chanthol as head.

A prior feasibility study conducted by the Japanese government’s overseas aid body Japan International Cooperation Agency (Jica) said the road would be 135km long, spanning Kandal, Prey Veng and Svay Rieng provinces, and ending at the Bavet-Moc Bai Border Gate.

With a projected cost of more than $2 billion, Jica deemed the project “too expensive”.

MOST VIEWED

  • Phnom Penh placed in two-week lockdown

    The government has decided to place Phnom Penh in lockdown for two weeks, effective April 14 midnight through April 28, as Cambodia continues to grapple with the ongoing community outbreak of Covid-19, which has seen no sign of subsiding. According to a directive signed by Prime Minister

  • Cambodia on the verge of national tragedy, WHO warns

    The World Health Organisation (WHO) in Cambodia warned that the country had reached another critical point amid a sudden, huge surge in community transmission cases and deaths. “We stand on the brink of a national tragedy because of Covid-19. Despite our best efforts, we are

  • Hun Sen: Stay where you are, or else

    Prime Minister Hun Sen warned that the two-week lockdown of Phnom Penh and adjacent Kandal provincial town Takmao could be extended if people are not cooperative by staying home. “Now let me make this clear: stay in your home, village, and district and remain where

  • Vaccination open to foreigners in Cambodia

    The Ministry of Health on April 8 issued an announcement on Covid-19 vaccination for foreigners residing and working in Cambodia, directing the Ministry of Labour and Vocational Training and local authorities to register them. Health minister Mam Bun Heng, who is also head of the inter-ministerial

  • Culture ministry: Take Tuol Sleng photos down, or else

    The Ministry of Culture and Fine Arts has told Irish photographer Matt Loughrey to take down the photos of Khmer Rouge victims at Tuol Sleng Genocidal Museum which he allegedly colourised and altered to show them smiling. The ministry said Loughrey's work is unacceptable, affecting

  • Cambodia gears up for muted New Year festival

    The recent curfew and restrictions imposed in the capital and other Covid-19 hotspots were intended to break the chain of transmission, Ministry of Health spokeswoman Or Vandine said as municipal and provincial authorities issued new directives banning certain activities during the upcoming Khmer New Year