Phnom Penh Area Guide: Russian Market (Toul Tom Poung)

Updated May 2026, Phnom Penh |

Located between Monivong Boulevard and Mao Tse Tung Boulevard, the Russian Market (Toul Tom Poung) area has rapidly evolved into one of Phnom Penh’s most dynamic residential and lifestyle districts. Once known primarily for its iconic local market and expatriate community, the neighborhood today has become a vibrant urban hub attracting young professionals, expatriates, entrepreneurs, and property investors alike.

With its strong café culture, expanding condominium developments, international schools, and growing commercial activity extending south of Toul Tom Poung, the district is increasingly viewed as one of Phnom Penh’s most promising up-and-coming residential corridors.

Historical Background

The name “Russian Market” dates back to the 1980s, when many Russian expatriates lived and shopped in the area during Cambodia’s post-war reconstruction period. Over the decades, the neighborhood has transformed into a lively mixed-use district while retaining much of its local charm and cultural identity.

Today, Russian Market remains one of Phnom Penh’s most recognizable lifestyle neighborhoods, blending traditional markets, modern cafés, local businesses, and new residential developments into a uniquely energetic urban environment.

Why Russian Market Is Becoming a Residential Hotspot

Russian Market has become increasingly popular due to its balance between convenience, affordability, and lifestyle appeal. Compared to central BKK1, the area offers relatively more accessible housing prices while still maintaining excellent connectivity to major commercial districts.

The neighborhood is also known for having one of Phnom Penh’s strongest food and beverage scenes, with a dense concentration of cafés, brunch spots, international restaurants, rooftop bars, and local street food vendors spread throughout the district.

As development continues expanding south of Toul Tom Poung, more condominium and mixed-use projects are entering the market, contributing to rising residential demand and increasing long-term investment potential.

Housing & Residential Options

Living in the Russian Market area offers residents convenient access to schools, supermarkets, cafés, offices, and entertainment venues. The district is located approximately 10–15 minutes from central BKK areas, making it attractive for both local residents and expatriates.

Shared apartments in the area typically range from $200 to $350 per month, while serviced apartments and condominiums vary depending on location, size, and facilities.

Typical Rental Pricing in the Area:

1-bedroom apartments or condos: $350 – $700
2-bedroom apartments or condos: $500 – $1,000
3-bedroom apartments or condos: $800 – $1,500

For those seeking even more choices, here are some popular residential buildings in the area:

Rental-Oriented Residential Options:

L Tower Condo: Standing tall at 23 stories, this building offers 480 units, combining modern facilities with a homely feel.
Parc 21 Residence: Completed in June 2022, this development features 21 floors and 128 units, offering Singapore-standard living in a sleek and contemporary environment.

Upcoming Condo & Investment Projects in TTP Area

Kingston Royale

This is one the most sought-after development projects in the heart of the Russian Market area.

Developer: KR Kingston Royale Co., Ltd.
Scale: 36 stories (310 units)
Unit Types: 1-2 bedrooms
Construction Date: April 2026 (Progress: 20%)
Expected Completion: 2027
Sold Rate: 68%
Details: Rooftop pool, gym, yoga hall, multi-purpose hall, multi-level parking.
Pricing: Starting $5X,XXX.

Time Square 8

This is currently the most significant high-rise development in the heart of the Russian Market area.

Developer: Megakim World Corp.
Scale: 49 storeys
Construction Date: April 2025 (Progress: 40%)
Expected Completion: December 2028.
Details: It features 700 units including 1 to 3-bedroom classic layouts, and 1 to 4-bedroom duplex layouts. Amenities include a rooftop pool, gym, cinema, and multi-level parking.
Pricing: Starting around $4X,XXX.

Time Square 11

This is currently the latest off-plan project in between BKK3 and Russian Market areas.

Developer: Megakim World Corp.
Scale: 39 storeys
Construction Date: September 2026.
Expected Completion: June 2029.
Details: It features 384 units including 1 to 2-bedroom classic layouts. Amenities include a rooftop pool, gym, and multi-level parking.
Pricing: Starting around $4X,XXX.

Citadel Manor

One the latest development projects in the center of the Russian Market area.

Developer: CDK Development and Imajineer
Scale: 37 stories (160 units)
Unit Types: 1-4 bedrooms, penthouses
Expected Completion: Q4 2029
Details: Reception/Lobby/Concierge, Gym/Fitness Center, Car Parking, Moto Parking, Elevators & Lifts, Commercial area, Garden, Sports Facilities, Backup Electricity / Generator
Pricing: Starting $7X,XXX.

Shopping & Lifestyle

Russian Market is widely regarded as one of Phnom Penh’s strongest lifestyle districts, combining local markets, boutique retail, supermarkets, and an extensive café culture within a highly walkable neighborhood.

Popular brands and cafés such as Zando, Brown Coffee, Starbucks, and Amazon Café can be found throughout the area alongside independently operated coffee shops, restaurants, and creative lifestyle venues.

Key Commercial Destination

The Point Community Mall: A nearby hub for shopping and leisure that draws in both local residents and visitors.

Phsar Tuol Tom Poung (Russian Market)

At the heart of the neighborhood is the lively local market – Phsar Tuol Tom Poung, where you can find a treasure trove of goods:

Tourist Souvenirs: Think silk scarves, stone carvings of Buddhas, and all sorts of local crafts.
Clothing: A mix of local brands and stylish pieces from factories nearby.
Food Items: Fresh fruits, vegetables, and even live seafood like crabs and fish await you.
Household Items: From lamps to kitchen wares, there’s something for every home.
Food Stalls: Don’t miss out on local delights like Mi Cha (stir-fried noodles) and kuyteav (noodle soup).

The market remains a major attraction for both tourists and local residents, contributing significantly to the district’s lively atmosphere.

Culinary & Dining Scene

The Russian Market area is known for its exceptionally diverse food scene, ranging from traditional Khmer street food to Western, Korean, Japanese, and fusion dining concepts.

The neighborhood’s café culture has also become one of its defining characteristics, attracting remote workers, entrepreneurs, creatives, and younger expatriates seeking a more community-driven urban lifestyle.

Nearby supermarkets such as Lucky Market and Angkor Market provide convenient grocery options for residents.

Nightlife

Once the sun sets, the Russian Market area transforms into a veritable haven for foodies and night owls alike. Street stalls spring up offering tantalizing dishes like Micha and Lort Cha (stir-fried noodles) alongside grilled delights like duck, chicken, squid, and sweet pork sausages. Fresh fruit shakes and coffee stalls pop up, too, creating a vibrant evening atmosphere.

For those looking to unwind with a drink, the area boasts an impressive selection of bars and pubs catering to all tastes. Whether you’re in the mood for affordable local beers or exquisite wines and cocktails, there’s a spot for everyone.

Some highlights include:

Lola Music Lounge: A perfect place for music lovers, offering live performances and a cozy ambiance.
123 Pigs: Known for its vibrant atmosphere and creative cocktails, it’s a must-visit for nightlife enthusiasts.
La Chronic: This bar offers a laid-back vibe with a great selection of drinks and an inviting setting.
Long After Dark: A stylish bar offering a unique mix of craft cocktails and a sophisticated ambiance.
And many more hidden gems if you explore!

Education and Offices

Toul Tom Poung is home to numerous educational institutions, catering mainly to the expatriate community and offering international curricula.

Notable Schools

Toul Tumpoung High School
Beltei International School
Australian Centre for Education (ACE)
Huaying International School
Sovannaphumi School
Zion International School of Phnom Penh
The Westline School
ASEAN International School
Harvest Education Center International School
SIU International Institute
Camford International Institute
And many more!

Government and NGO Offices

This area also serves as a hub for various governmental and non-governmental organizations. They convert villas and shophouses into commercial spaces and office headquarters. Among them are the following:

Ministry of Land Management, Urban Planning, and Construction
BBC Media Action Cambodia Office
Ministry of Planning
Japan International Cooperation Agency (JICA) Cambodia Office
Department of Scientific Research of Ministry of Education, Youth, and Sports (MoEYS)
Ocean Technology Co., LTD.
Cooperation Committee for Cambodia
World Finance Cambodia PLC. Headquarters
The NGO Forum for Cambodia
Embassy of the People’s Republic of China

The Rise of South Toul Tom Poung

Areas south of Russian Market are increasingly attracting attention from both developers and investors as Phnom Penh’s urban expansion continues outward from central districts like BKK1.

Improved infrastructure, growing commercial activity, and an increasing number of condominium launches are helping transform southern Toul Tom Poung into one of the city’s emerging residential growth corridors.

For buyers seeking a balance between accessibility, lifestyle, and long-term appreciation potential, the district is becoming an increasingly compelling alternative to more mature central locations.

Living in Russian Market

Living in Russian Market offers residents a highly urban and connected lifestyle surrounded by cafés, restaurants, schools, retail outlets, and local markets. The neighborhood’s mix of local culture and modern convenience continues to attract a diverse residential community ranging from young professionals to long-term expatriates and families.

As the district continues evolving, Russian Market and the surrounding Toul Tom Poung area remain among Phnom Penh’s most exciting neighborhoods to watch.

About IPS Cambodia

At IPS Cambodia, we understand the local real estate market like the back of our hand. Our reliable, data-driven insights empower clients to make informed decisions. Whether you’re searching for a new home, commercial space, or investment opportunities, we’re here to guide you every step of the way.