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Prince Real Estate Begin Construction of Convention Center Ahead of The What’s Happening in Cambodia Market & Valuation Vol.15(July. 2019) Location Determined for Airport Development and $1,500 per sqm in the beginning of this year to Project in Mondulkiri between $300 and $1,700 per sqm. Some communes in Dangkor district have seen land The administration of Mondulkiri province has prices increase to more than $2,000 per sqm. designated some 300 hectares of land for the According to the report, a Chbar Ampov district has construction of an airport in the northeastern seen the highest increases among the three, with province according to the Secretary of State for land prices up nearly 15 per cent in the first six Civil Aviation. The location of the airport is in O’ months of this year. Land in the district’s Prek Pra Reang district of Mondulkiri province and the and Prek Eng communes are currently priced at airport is to facilitate tourist travel and to turn the between $300 and $1,000 per sqm, while average northeastern province into a main hub in the prices in Chbar Ampov I and Chbar Ampov II country. The airport will be used only for domestic communes are between $1,300 and $3,200 per travel and it will have an 1800‐metre runaway. It is sqm. Land prices in Phnom Penh’s other districts a government project, the budget for construction such as Daun Penh, Prampi Makara, Chamkarmon will go to the state budget and it will take about five and Tuol Kork districts currently stand at an years to complete. average of between $5,000 and $12,000 per sqm Learnt From: Construction & Property (28th June, 2019) according to the report. th Prince Real Estate begin Construction of Learnt From: The Phnom Penh Post (8 July, 2019) Convention Center ahead of the ASEAN More condo projects enter capital’s housing Summit market Mega Chinese firm Prince Real Estate Group who invested heavily in the real estate sector in Cambodia has begun construction of its convention center in Sihanoukville. The Cambodia International Convention Center covers a total development area of 120,000 square meters of which is to be completed on 31 May 2022 for the upcoming ASEAN Summit in the same year. In addition to the convention center, the project will also feature a five‐star hotel, a business center, and many other facilities. Prince Real Estate Group is a large‐scale international conglomerate with a Condominium in Phnom Penh diversified business portfolio and the company is to In the first half of 2019, 13 condominium projects invest around US$6 billion within 10 years to create completed, bringing the total condominium supply the largest Central Business District (CBD) in Phnom 16,657 units in Phnom Penh according to the report Penh as well as other provinces across the by CBRE Cambodia. Among the 16,657 kingdom. condominium units, 24 per cent were classified as st Learnt From: Construction & Property (1 July, 2019) affordable valued around $1,500 per square metre, 51 per cent as mid‐range valued around $2,500 per Land Prices in Three Capital Districts see Sharp square metre and 25 per cent as high‐end valued Increase around $3,200 per square metre. Rental prices According to the report by Key Real Estate, land have increased slightly up by .8 per cent compared prices in Phnom Penh’s Prek Pnov, Dangkor and to the end of last year. High‐end units rent average Chbar Ampov districts have seen a sharp increase around $14.6 per square metre per month. The during the first six months this year. Land prices in capital’s condo market is still healthy especially the Prek Pnov district grew by more than 27 per cent in affordable units and the trend has been for local the first six months of this year from between $280 customers where condo investment mostly This article is drawn up and published by Japan Valuers (Cambodia) Co. Ltd. All rights reserved. “We value and appraise the "ASSET" upon the request according to the global standard”. For more information, visit our website: www.jvcambod Japan Valuers (Cambodia) Co. Ltd. is the local subsidiary of Japan Valuers Co., Ltd. headquartered in Tokyo, Japan. ia com Visit and Contact at: www. japanvaluers.com for more information about Japa n Valuers and its global network. What’s Happening in Cambodia Market & Valuation Vol.15(July. 2019) focused on foreigners in the past. The report contributes to the transformation of potential estimates that the number of condo units in Phnom agricultural areas, especially in remote areas that Penh will reach 31,100 by the end of this year. connect to the border between Cambodia and Learnt From: The Phnom Penh Post (11th July, 2019) Thailand. Lumiere Launches Service‐Apartment Hotel Learnt From: Construction & Property (22nd July, 2019) Singapore‐based Lumiere Hospitality launched Lumiere Residence, a serviced apartment complex in Phnom Penh. Lumiere Residence is a 25‐story serviced extended‐stay hotel located in the centre of Phnom Penh with 166 rooms. The property is an award‐winning property, widely recognized for its architectural and interior designs and it is designed for business travelers for their convenience and relaxation during business trips while enjoying the comforts of the city. Learnt From: Khmer Times (22nd July, 2019) Construction Complete for National Road No.55 Photo by Ministry of Public Works and Transport According to the Ministry of Public Works and Transport (MPWT), National Road No.55 connecting National Road No.5 to the border of Trat Province, Thailand, has been completed after 42 months of construction. This national road which is constructed by China Road and Bridge Corporation (CRBC), is 180‐kilometre long, 9‐metre wide. Construction was financed more than US$132.8 million from the government of the People's Republic of China, along with the Cambodian government's contribution. However, inspections by MPWT on 22 July, the construction is requested to make adjustments to ensure a high quality and durable road before the road open to the public. This national road is very important as it creates internal integration connection and it also This article is drawn up and published by Japan Valuers (Cambodia) Co. Ltd. All rights reserved. “We value and appraise the "ASSET" upon the request according to the global standard”. For more information, visit our website: www.jvcambod Japan Valuers (Cambodia) Co. Ltd. is the local subsidiary of Japan Valuers Co., Ltd. headquartered in Tokyo, Japan. ia com Visit and Contact at: www. japanvaluers.com for more information about Japa n Valuers and its global network. .
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