by Sophary
Phnom Penh: The northern part of Phnom Penh has been developing rapidly in recent years which is mainly focuses on different affordable and medium as well as expensive housing projects.
Real estate experts predict that in the future this area will become a potential commercial area instead.
Ms. Ann Sothida, CEO of PropNex Cambodia Real Estate Company, said by telephone this morning that most of the areas along Win-Win Boulevard are currently being developed, with investors also developing affordable and medium-sized housing. In particular, high-cost housing is not much yet.
“The potential of the area along Win-Win Road or north of Phnom Penh, we see that there are some public and private buildings that can attract and transform this area into a commercial area in the next five years,” she said.
“It will also be an attractive commercial area in Phnom Penh, while the demand for land for use in the north has seen high growth in the last few years,” she added.
Mr. Po Eav Kong, CEO of Advance Realty, also said that the northern region, especially in Prek Pnov district, compared to Kandal district, the land growth rate is higher. This increase is due to the high demand for land for use, such as development to residential land, land for construction of buildings and so on.
He said that in the future, land in this area will be more valuable when developed into a commercial area, and investors will also receive additional benefits and profits from the development of the area.
The northern area and the area along the Win-Win Road have been developing steadily, with some government projects such as ministries, institutions and private projects also preparing to develop along this potential road.
Win-Win Boulevard is a main road connecting to ring roads 3, National Road 6, 5, 4, 3, 2 and National Road 1 and it is an important road to avoid congestion traffic in Phnom Penh as well.
