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

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • General’s gun smuggling ring busted

    The Military Police sent six military officers to court on November 22 to face prosecution for possession of 105 illegal rifles and arms smuggling, while investigators say they are still hunting down additional accomplices. Sao Sokha, deputy commander of the Royal Cambodian Armed Forces and commander of

  • Rise in planned flights lifts travel hopes

    Six airlines have applied to resume flights in December, while two others have put in for additional flights and routes, according to State Secretariat of Civil Aviation (SSCA) head Mao Havannall on November 29. These account for 43 new weekly domestic and international flights in December, up 16

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • More Cambodians studying in US

    The number of Cambodian students studying at US colleges and universities in 2020-21 increased by 14.3 per cent over the previous year despite the Covid-19 pandemic, according to a recent US government report. The 2021 Open Doors report on International Educational Exchange showed that 848 Cambodian students studied

  • Hun Sen: Manet to be candidate for prime minister

    Prime Minister Hun Sen has reaffirmed that his oldest son Hun Manet will be his successor as Prime Minister if he is elected. Speaking during the inauguration of a new sewage treatment facility in Preah Sihanouk province on December 2, Hun Sen said Manet will be