The cityscape of Phnom Penh, is currently undergoing a dramatic transformation. Amidst steady economic growth, the spotlight is shifting towards the capital’s northeasterly district of Chbar Ampov. At the heart of this transformation is strategic infrastructural development, notably the construction of the Koh Norea Bridge.
The OCIC spent $38 million in constructing this bridge that now seamlessly connects Diamond Island City (Koh Pich) to the Koh Norea peninsula in the Niroth commune of Chbar Ampov district, spanning the Tonle Bassac River. This infrastructure has provided a major boost, improving accessibility and facilitating an influx of businesses and residents.
A Surge in Residential and Commercial Activity
Chbar Ampov and the vicinities along National Road 1, is heading from being a lesser-developed zone to a dynamic real estate hub. Potential growth trends indicate this sector could stand shoulder to shoulder with downtown areas like Koh Pich and Tonle Bassac in terms of investment gains.
The government’s focus on this area has sparked a significant increase in both public and private investments, mirroring the developments observed in cities like Bangkok and Ho Chi Minh. With improved accessibility, land prices, although predicted to surge significantly in the future, have seen a moderate increase, due to the balancing effects of enhanced infrastructure, growing population and ongoing real estate market improvement.
Malay Nop, IPS Cambodia’s Investment Specialist, points out the northeast area of Phnom Penh as a zone brimming with promising and affordable investment opportunities. She states, “This is an upcoming residential and commercial area with land prices per square meter still very low. It’s a great opportunity to buy now at a low price.”
Seize the Opportunity
The vision for Chbar Ampov extends beyond residential to commercial and retail sectors, aligning with the trend of multipurpose buildings along river fronts. The ongoing extensive development including the OCIC satellite city puts Chbar Ampov in a promising position, hinting at healthy returns for investors once the projects reach completion.
Investors are eying promising future rental and resale profits due to increased investor confidence in the area. The close proximity to main districts, upcoming infrastructures, and the anticipation of rental rates rising, makes the area just as desirable as Koh Pich for potential returns on investment.
For those eyeing a dynamic market with immense potential, now is the time to dive in. This is a golden opportunity to be at the leading edge of Cambodia’s economic expansion, marking a presence in one of Asia’s growing investment hotspots.
EN