Logo of Phnom Penh Post newspaper Phnom Penh Post - Developers see near completion of cable-stayed bridge as positive for trade and property prices



Developers see near completion of cable-stayed bridge as positive for trade and property prices

The Neak Loeung Bridge, Cambodia’s longest, will facilitate trade with Vietnam next year.
The Neak Loeung Bridge, Cambodia’s longest, will facilitate trade with Vietnam next year. PHOTO SUPPLIED

Developers see near completion of cable-stayed bridge as positive for trade and property prices

Set to open next year, Cambodia’s first cable-stayed bridge is now more than 70 per cent complete, according the government.

Chhim Phalla, director of the Ministry of Public Work’s Department of International Cooperation, which is overseeing the Neak Loeung Bridge and improvements to National Road 1, says that 76.3 per cent of the work on the Neak Loeung Bridge had been completed at the end of March. He adds that the only work remaining was the core centre of the bridge, with 300 metres remaining to connect the two sides.

The bridge is 2,220 metres long, 13 metres wide and 37.5 metres above the water level during the rainy season, and it will have two wide lanes for traffic.

“The Neak Loeung Bridge will be the longest bridge in Cambodia,” Phalla says. “The bridge will bring benefits to everyone because of its proximity to Vietnam and Thailand.”

The bridge is 61 kilometres southeast of Phnom Penh in Prey Veng province.

According to Phalla, the new bridge will facilitate transportation links between Cambodia and Vietnam, leading to the industrial and factory developments in the province.

The bridge will be planned to finish on March, 2014 and spent $90 million, paid for by a grant from the Japanese government.

Construction has been made possible by an official development assistance (ODA) grant by the Japanese government, with bidding for the construction held in Tokyo by Japanese companies, Phalla says. The Cambodian Ministry of Public Works and Transport has played a coordination role.

On the subject of upgrades to National Road 1 between the new bridge and Phnom Penh, says that the 55 kilometres of highway were being upgraded in four phases. The first three phases, he says, are already complete, leaving only the fourth phase, for which bidding would be held in Japan in August, with the work expected to take some 12 months.

The Neak Loeung Bridge is more than 70 per cent complete.
The Neak Loeung Bridge is more than 70 per cent complete. PHOTO SUPPLIED

Phhally says that government ministries are working together to mediate in disputes associated with people living along the road who were affected by the work.

Meanwhile, with Asean economic integration around the corner, Khom Monirath, board of director of Daily Realty Group, says he expects improvements to National Road 1 and better connections with Vietnam to have a positive impact on land values.

At present, land prices on the other side of the Preah Monivong Bridge in the vicinity of Phnom Penh ranged between $500 and $800 per square metre, he adds.

Van Chanthorn, managing director of Town City Real Estate, says he expects property values in Prey Veng province to increase because it occupied a central location between Cambodia and Vietnam. After the completion of the bridge, he says he expects that investors in factories and warehouses would take interested due to ease of transport.

“Land prices are inexpensive if you compare them to prices for land along national roads 4, 3, and 6,” he says.

Sorn Seap, general manager of Key Real Estate, says land prices along National Road 1 saw an increase of between 10 and 20 per cent in the first four months of this year compared with the same period last year.

“Property prices increased due to widening of the road, while many other construction projects, such as factories, warehouses and borey developments are also close to completion,” he says.

Po Eavkong, managing director of Asia Real Estate, says the bridge was a very positive development, particularly for property to the east of the bridge, which continued to be underdeveloped.

MOST VIEWED

  • Cambodia to waive quarantine requirements Nov 15, no PCR test required

    Prime Minister Hun Sen has decided to lift all quarantine requirements for fully vaccinated travellers and visitors – both Cambodians and foreign nationals – effective from November 15 onward. In a special message addressed to officials and relevant authorities on November 14, Hun Sen said this policy will enable

  • PM: No more quarantine for vaccinated travellers

    Cambodia is lifting all quarantine requirements for vaccinated inbound travellers entering Cambodia by air, waterway or land border checkpoints effective from November 15. Travellers will be required to take a rapid antigen test on arrival rather than waiting for the results of the lengthier polymerase chain

  • No payment required for travellers taking rapid Covid tests on arrival

    Ministry of Health officials said there would be no payment required for the rapid Covid-19 tests given to travellers who arrive in Cambodia from November 15 onwards after the quarantine requirement is lifted for fully vaccinated people. Health ministry spokeswoman Or Vandine told The Post on

  • 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

  • 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

  • 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