Real estate experts see the momentum of the real estate sector after the Royal Government of Cambodia announced the construction of the fourth ring road project recently, a large infrastructure project.
Madame An Sothyta, Director of CBRE Cambodia, revealed that Cambodia needs good quality infrastructures in response to economic growth, transportation, and demographics.
“The second, third, and fourth ring road infrastructure projects are the Royal Government’s plan to expand the city,” she said. “Another important point is that the government wants to move factories, enterprises, industries and housing to the suburbs of the Phnom Penh capital,” she added.
She added that this is another good point that will help drive the real estate sector to grow, because good infrastructure will increase property prices.
Mr. Morn Sokha, President of the Cambodian Land Developers Association, said that when the construction of the 4th Ring Road project is completed the value of real estate or other land will be automatically increased the price while people will move to live there more and more.
“In my opinion, after the Royal Government announced the construction of the fourth city road, which will start soon when construction begins or “Once completed, the real estate sector along this road will have even greater momentum.”
The 4th Ring Road has been studied by The Ministry of Public Works and Transport with China Road and Bridge Corporation since 2018 and officially completed in 2020. The 195-kilometer road will pass through four provinces: Kampong Speu, Takeo, Kandal and Prey Veng, and through Kampong Speu (Takeo province with 1 district, Kandal province with 8 districts, and Prey Veng province with 2 districts).