Logo

Trusted Partner. Market Leader.Underline

IPS Cambodia

Independent Property Services (IPS) has grown to be the premier real estate company in Cambodia, with offices located in Phnom Penh and Siem Reap, providing premium real estate opportunities and catering to the local and expat market since 2009. Whether it is a new residence, commercial space, or land you seek, our property agents can present you with first-rate choices that fit your budget and lifestyle. IPS manages condominiums for rent, houses for rent, and apartments for rent in Phnom Penh, Siem Reap, and other properties are also available for rent and sale throughout Cambodia.

IPS Cambodia
  • Phnom Penh
  • Property Valuations
  • Document Processing Services
  • FAQs
  • Contact Us
  • Property Management
  • Investor's Guide
  • Siem Reap
  • Careers
  • Back to Home

IPS Cambodia – Cambodia’s Premier Real Estate Company.
#182, Street 63, BKK1, Phnom Penh, 120102 | #618, Corner Wat Bo Road and Street 24, Siem Reap, 171204

Phone+855 77 959 861
Emailinquiry@ips-cambodia.com
FacebookXLinkedInWhatsappTelegramYouTubeInstagramTikTok

2024 © IPS Cambodia. All Rights Reserved.

Terms of ServicePrivacy Policy

Ongoing, Planned Bridgeworks Indicate Ongoing Infra Growth for Cambodia in 2022

Author: Mizpah Castro Maulit

Published: 2021-11-10

Categories: Cambodia News

Two major bridge projects connected to Phnom Penh’s upcoming satellite city Koh Norea have been making steady progress since groundbreaking in October 2020, with more on the way as the year-end draws near.

The first will be a 16m-long bridge connecting Koh Norea to National Road 1, and was 2.5% complete in September.

Meanwhile, the other had reached 27% completion. It will be 824m long and 24.5 meters wide, serving as the bridgeway to Koh Pich City. Aside from its size and scale, this bridge is distinguished by high cable-stayed pillars with traditional Khmer engraving. It will also have four (4) main lanes as well as two (2) motorbike lanes.

Both projects are under Overseas Cambodia Investment Corporation (OCIC), a private finance and infrastructure company in Cambodia.

Overall construction within the 125-hectare Noh Korea development project, which is costing an estimated USD2.5-billion, has also reached an average 48% completion despite the pandemic.

This includes the two bridges, two riverbanks, and landfilling. According to Project General Manager Men Poly, the first of five phases in overall infrastructure is expected to be complete in mid-2023.

Long-term, commercial areas, recreational parks and facilities, residential properties, financial institutions, universities, and quality hospitals are expected to rise the multi-billion-dollar satellite city project.

Already providing employment to hundreds of people, the figure could potentially rise to 7,000 at the peak of construction activity, said OCIC CEO Pung Kheav Se. He added that upon completion, Koh Norea could bring an additional 10,000 job opportunities.

Korea-Funded Chroy Changvar Bridge Construction May Begin Next Year

Further north in Phnom Penh, another bridge project in Chroy Changvar is set to commence construction in 2022 according to the 2022 draft law on financial management by the Kingdom’s Ministry of Economy and Finance.

It will connect the city district to Svay Chrum Commune in Kandal Province.

The project had already been announced a year prior, with funding to be provided by the Republic of Korea. By mid-2021, South Korean experts had been assessing locations while formulating the possible designs for the bridge.

Officially, it will be known as the Cambodia-South Korea Friendship Bridge. The President of the Republic of Korean, Moon Jae-in, also announced it himself in November 2020.

The said 2022 draft law also includes a budget for continuing preparedness against the covid-19 pandemic’s impact, including a program to support Category 1 and 2 poor families and vulnerable people; vocational training, assistance, and reskilling of workers; and digital technology and related infrastructure.

From these Phnom Penh bridges to Siem Reap’s 38-Road and Sihanoukville’s 34-Road projects, steady improvements in infrastructure spell a positive outlook for the property market growth, lighter traffic, and quality transport overall —all welcome as Cambodia maneuvers the global pandemic landscape.

Related Articles

Property Image

Cambodia Postpones Capital Gains Tax (CGT) on Real Estate Until 2027

The General Department of Taxation (GDT) has officially announced a further postponement of the implementation of Capital Gains Tax on real estate. This decision comes as a strategic move by the Royal Government to continue supporting the recovery of the property sector and to ease the financial burden on taxpayers…

LEARN MORE
Property Image

Sihanoukville’s Skyline Transformed: Time Square 10 Ocean View Breaks Ground, Signifying Major Investor Confidence

The vibrant coastal city of Sihanoukville, Cambodia, celebrated a major new chapter in its large-scale urban development with the official Groundbreaking Ceremony for Time Square 10

LEARN MORE
Property Image

LZ Sea View Premium: Sihanoukville’s New Architectural Landmark Breaks Ground!

The thriving coastal city of Sihanoukville, Cambodia, is set for a new wave of growth as the LZ Sea View team officially launched construction on their next flagship project: LZ Sea View Premium

LEARN MORE
Property Image

Cambodia Postpones Capital Gains Tax (CGT) on Real Estate Until 2027

The General Department of Taxation (GDT) has officially announced a further postponement of the implementation of Capital Gains Tax on real estate. This decision comes as a strategic move by the Royal Government to continue supporting the recovery of the property sector and to ease the financial burden on taxpayers…

LEARN MORE
Property Image

Sihanoukville’s Skyline Transformed: Time Square 10 Ocean View Breaks Ground, Signifying Major Investor Confidence

The vibrant coastal city of Sihanoukville, Cambodia, celebrated a major new chapter in its large-scale urban development with the official Groundbreaking Ceremony for Time Square 10

LEARN MORE
Property Image

LZ Sea View Premium: Sihanoukville’s New Architectural Landmark Breaks Ground!

The thriving coastal city of Sihanoukville, Cambodia, is set for a new wave of growth as the LZ Sea View team officially launched construction on their next flagship project: LZ Sea View Premium

LEARN MORE