Logo of Phnom Penh Post newspaper Phnom Penh Post - Road boosts Kampong Chhnang realty

Road boosts Kampong Chhnang realty

Content image - Phnom Penh Post
Organisers preparing for the 5th River Festival on February 23, which took place between March 15 and 17 in Kampong Chhnang town. Sam Rith

Road boosts Kampong Chhnang realty

The announcement of a road and bridge that will cross the Tonle Sap River and connect Kampong Chhnang and Kampong Thom provinces, which is set to see a concentration of major logistics infrastructure, will bring to light the potential of the province’s real estate sector, insiders have said.

Khmer Foundation Appraisals Co Ltd president and CEO Noun Rithy told The Post on Wednesday that the geographical potential of Kampong Chhnang province has long been overlooked, and that it is the optimal location for investment in all sectors, including roads, railways, waterways and airways.

The announcement of the new road link project will heighten momentum in the province’s real estate sector, bringing a steady influx of people to settle in. “The flow of people will increase population density, and when this increases, real estate will boom,” he said.

Rithy said the province’s commercial land currently costs an average of between $500 and $600 per sqm, while Kampong Chhnang town’s residential land currently ranges between $100 and $200.

“Land for factory construction can cost between $15 and $20, while agricultural land averages from $2 to $5 per sqm. Vast reaches of large farmland can range between $0.20 and $0.50 – or between $2,000 and $3,000 per ha.

Homes in prime locations can cost between $200,000 and $300,000 per unit. In Kampong Chhnang town there are currently a number of gated-community construction projects– locally known as borei.

Compared to the same time last year, land prices have risen up to 50 per cent, with more distant locations rising by around 15 per cent, he said.

“Kampong Chhnang is also said to be a place with a high potential for industrial investment.”

Minister of Public Works and Transport Sun Chanthol said on Tuesday that the construction of the road and bridge linking Kampong Chhnang and Kampong Thom provinces may soon begin.

He said he will discuss with the Ministry of Economy and Finance to push the project despite it not currently being in the government’s five-year plan.

“The study has been completed 100 per cent, and we will negotiate and insert this project into government’s five-year plan to ask China for loans,” he said.

According to the minister, the project might require a concessional loan from China of around $200 million.

“I would like to ask the private sector to consider [Kampong Chhnang province] as a logistics service area for the Greater Mekong Subregion,” he said.

MOST VIEWED

  • Woman detained for murder of hairdresser over unpaid $1K debt

    A woman has been held in connection with the murder of a 40-year-old widow. The victim’s daughter claims the motive was the suspect’s unpaid four million riel ($1,000) debt to her mother. The 17-year-old girl, Pich Sievmey, said her mother, Koem Yaneang, a hairdresser

  • ‘Life goes on’ if Cambodia loses Everything But Arms

    Cambodia's business sector is exploring ways to mitigate any fallout from a possible loss of access to the EU’s Everything But Arms (EBA) agreement as talks continue before the 28-member bloc makes a final decision. The EU monitoring process is set to conclude in

  • Nesat beach: A magnet drawing tourists to the Kingdom’s coastline

    A white sandy beach lined by countless coconut trees awaits travellers off Cambodia’s southwest coast in Koh Kong province’s Srae Ambel district, about 170km from Phnom Penh. Over the past few years Nesat beach – a name inspired by a nearby fishing village – has

  • PM: Workers must train for Industry 4.0

    Prime Minister Hun Sen has urged the Kingdom’s workforce to seek more technical training and strengthen their skills if they are to avoid job losses resulting from the Fourth Industrial Revolution. Hun Sen said the fourth industrial revolution is like a double-edged sword that