Real estate experts are applauding the completion of the Russey Keo bridge, which crosses over the Tonle Sap River in Phnom Penh and is expected to greatly ease traffic in the neighbourhood resulting in more investment in the area and high valuations of the land there.
Chrek Soknim, president of the Cambodian Appraisers and Estate Agents Association (CAEAA), said the construction of the cable-stayed bridge has provided great benefit to people on both sides of the crossing and reduced traffic congestion.
The section between National Roads 5 and 6 in Russey Keo and Chroy Changvar areas will have greater potential for future development, he said.
“The construction of new bridges is a mechanism to further strengthen and expand the influence or potential of real estate development in the region and it will be easier for people to travel by solving the congestion problem,” he said.
Soknim said that although the bridge is already in use, real estate prices have not yet risen due to the unfavourable economic conditions that currently prevail.
“I believe that in the next two to three years, the area around and near the bridge will be a potential area for prices to increase significantly in the future,” he said.
Grace Rachny Fong, CEO of real estate agent Century 21 Cambodia, said real estate prices on National Road 6A were already very good and will be even better after this new bridge is present in the area for enough time.
“The new bridge connects the main roads on both sides of the Tonle Sap River, which connects some potential provinces along these two national roads. We expect that this bridge is not only suitable for travelling, but it will boost real estate trading activities after the economic situation improves,” she said.
The bridge, which has a length of 922m and is 20.5m in width, began construction in the middle of 2021. The pedestrian sidewalk is 1.25m wide on each side. The height of the bridge pillars for hanging cables from the bridge is 34m long. It is built in the modern style and the four main pillars are up to 40m tall, with a total cost of about $35 million.
Phnom Penh municipal authorities announced the opening of the bridge starting from April 10, under the direction of Prime Minister Hun Sen in order to ease traffic during the 32nd SEA Games in May.
