Phnom Penh: "Chroy Changva will be a long-term potential site for Cambodia’s real estate as the area lies in many major development projects," said President of Cambodian Valuers and Estate Agents Association, Chrek Soknim on 6 May.
The real estate expert said that many huge property companies are based in Chroy Changva between National Road 5 and 6.
Fresh News quotes a remark in a round-table show from Mr. Chrek Soknim that, "Chroy Changva is the most developed area in the future as it is situated in new enormous satellite-city and contributes to macroeconomic expansion today and tomorrow. Moreover, the zone is connected to projects of OCIC, Borey Piphum Thmey, Orkide Villa and other large real estate companies".
"I believe that Chroy Changva will be a long-lasting powerful site for the country’s real estate," he added.
Chroy Changva Bridge 2 to 5-Star Hotel and Sokha Residences and other major projects such as The Bay, The Bali Resort, The Manhatan, Borey Peng Huot, Borey Mekong Royal and ORKIDĒ, OCIC's satellite city building project as well as infrastructure such as roads, garden, change the geography to the most attractive region in Capital. The surge of land prices is also caused by these favorable factors.
Mr. Soknim also said that Cambodia’s real estate prices continued to grow by an average of 10% to 15% each year. In the next five years, the property industry will remain robust. And roots of this increase include housing, land, and other leasing sectors.
However, he affirms that if compared to neighboring countries: "Thailand, Vietnam and other ASEAN countries, our real estate value is not rated high despite the rise. "
According to a report by the Ministry of Land Management, Urban Planning and Construction shows that in 2018, there are 2,420 investment projects that worth over US$ 1,800 million, equivalent to 180,000 houses.
Skyscraper building projects from 5 floors up in Capital for 2018, there are 110 buildings, while 28 locations of Borey residences and a total of 301 registered architecture and construction companies. Of which, there are 186 local firms and 115 foreign companies compared to 2017, increased up to 26 companies.
