By: Vutha
PHNOM PENH: Toul Kork district is one of among 4 districts located in the Phnom Penh city. The real estate market in this area has been growing from year to year. There are a lot of potentials and investments in condominium projects in this area.
CEO of International Real Estate ERA, Mr. Khon Kongkea, said yesterday that Toul Kork area, currently there are not so many big number of condo projects, but It becomes one of area has so many opportunities to invest and making other kind of businesses as we can see now, there are big community development projects such as as Phnom Penh Center, Parkway, and One Park, etc.
“Condominium is no interest to Cambodia people now but a favor to foreigner”. He said “Living in condo offers many outlets such food stores, healthy club and swimming pool”.
He added “A lot of people will come to live in this area when there are many condominium projects and shopping centers gathering here. He believes soon Cambodian will turn to it.
Mr. Chrek Soknim, President of Cambodia Valuers and Estate Agent Association (CVEA) said that condominium market is getting attraction but incomparable the other popular area. He expects in the 5 to 7 years later, there will have many local people start to enjoy living in condos.
He also stated that currently, 20 condominium projects in the area are in progressing and it will be $1800 to $3000 per square meter prices.
Ms. An Sothida, director of CBRE Cambodia, said the potential Toul Kork area has so much development in last two years and another fact that it is not so far from Phnom Penh center with good infrastructures, low land prices, and now it becomes the most interesting area for investors to develop condominium projects.
