By: Sophary
Phnom Penh: Two state development projects, the Moradok Techo National Stadium project, and the Techo International Airport project, have been pushing land prices to another level.
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Since the start of the two major projects, land prices and odds have skyrocketed, especially in the nearby area. Real estate experts point out the potential and confirm that the land around the two development projects will rise further.
Oknha Kaing Sothy, CEO of Century 21 Land Station, said that just by leaking information about the emergence of investment projects somewhere, it has already boosted the buying and selling momentum. Next time, it will bring relief to those who have a lot of money, and rich people who will be looking to invest in the area in large amounts.
Oknha said that these factors will increase the movement of real estate sales and push the price of land around the area to another level because when any large project occurs, the government will build infrastructure projects there, for example, the Moradok Techo National Stadium project, and the Techo International Airport project.
“The land around the major development projects around 10 to 15 kilometers will have odds and prices will continue to rise, so the rich who invests in land for profit in the future is not wrong,” he added.
Ms. An Sothyta, CEO of PropNex Cambodia Real Estate Company, also said that the northern part of Phnom Penh has the project of Moradok Techo National Stadium and Victory Monument, which will attract investment in housing and will soon be transformed into a commercial area.
She also mentioned that in the south, there are projects such as Techo International Airport and the Third Ring Road, which are attractive to investors in the real estate sector, such as residential developers, shopping malls and high-rise buildings.
