Logo of Phnom Penh Post newspaper Phnom Penh Post - Plotted land trend spreading to numerous provinces

Plotted land trend spreading to numerous provinces

Content image - Phnom Penh Post
An area primed for development and possible plotted land sales on the outskirts of Siem Reap. Moeun Nhean

Plotted land trend spreading to numerous provinces

While big-scale land selling seems to be grinding to a halt, plotted land sales are understood to be picking up speed, spreading from Phnom Penh to many other provinces.

Oknha Srey Chanthorn, CEO of Sky Land, who started selling plotted land out of a 25-hectare piece of land in Vihear Sour area in Kandal province earlier this year, told Post Property that the land he is selling is targeted at middle-income citizens and the wealthy who can afford to pay between $95 and $280 a month.

The fee is paid in instalments within a period of three years without interest, and fifteen years with interest.

“The company is not only focusing on plotted land selling, but we’re also building a satellite city, with areas for entertainment, car and motorcycle racing, jet-skiing, horse-racing, and a football arena,” Chanthorn said.

“Since the beginning of this year, we’ve sold 1,500 plots of land. They’re divided into blocks A, B, and C with different prices depending on their size and location. Our project is successful because we’re focusing on the sports and tourism sectors which are being developed in this area.”

Chanthorn also said the sales of plotted land had been increasing recently, and in line with them so have the prices.

Land in this project varies in size from 5 metres by 20 meters to 4.2 meters by 25 meters. His customers are predominately working overseas in countries like Korea or the U.S.

Jumping on the bandwagon, Ou Panha, CEO of Success Academy and founder of Community Eco-Tourism of Trav Kod located in Balang commune, Siem Reap province, has also started to sell plotted land for vacation houses from a 200-hectare piece of land.

Plotted land ranges start from 300 square metres and are priced at $3,500 to $5,000. However, land is also being sold at a straight-up 2,000 square metres for an unknown price.

Panha said he began investing in Trav Kod Paradise Resort and selling plotted land for vacation houses because his team saw the potential of the area due to the beautiful views it commanded of the Kulen mountain range.

Content image - Phnom Penh Post
Siem Reap province is becoming popular for investors. Moeun Nhean

“This project has drawn a lot of attention because this area is only 23 kilometres from Siem Reap city. It’s a great place for a vacation house,” he said.

He continued, “It’s actually sold out faster than some projects which are nearer to the city; the first 100 plots of land were sold out in the first two months. Fifty percent of our customers are from Phnom Penh.”

Panha added that his project was ideal for a vacation house as it is located next to a resort with 120 bungalows and numerous restaurants.

The general manager of Siem Reap City Land, Chheang Rithy, said currently, his company was selling plotted land in Pnov commune of Sambour district in Siem Reap city from a 23.5-hectare piece of land.

The price ranges from $4,750 to $12,000, depending on the size of the land. He added that most of his customers were immigrant workers employed in hotels, governmental officers, and Siem Reap citizens.

“Most of the customers are middle or lower-middle income people who can afford to pay since they only have to pay an instalment of $105 to $200 a month,” he said.

Property investor Michael Nhim, CEO of Sodi Group, said he decided to invest in a plotted land project in Takeo province 10 years ago. He is currently investing in a 20-hectare plotted land project in Psar Somrongyong area of Bati district, Takeo province which is priced 30 percent lower than projects in Phnom Penh.

“What I’m focusing on right now is plotted land near markets, and downtown areas since the people living around these areas are more well-off,” Nhim said.

“Most of our customers are local people who want to live nearer to the market and Phnom Penh city.”

MOST VIEWED

  • 12th Cambodia int’l film festival to see return of Hollywood star

    Phnom Penh is set to come alive with the magic of cinema as the highly anticipated 12th Cambodia International Film Festival (CIFF) takes centre stage. Boasting an impressive line-up of 188 films from 23 countries, including captivating shorts, feature films, documentaries and animation, the festival promises an

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom