Chinese Money Is Driving One of Asia’s Fastest Property Booms
Phnom Penh, once known for its French colonial villas and modernist “New Khmer Architecture,” is becoming unrecognizable.
By Philip Heijmans
September 10, 2018, 11:00 PM GMT+2
Cambodia’s capital may be experiencing one of the world’s fastest property booms — thanks to Chinese builders and buyers.

When Chinese President Xi Jinping arrived in Phnom Penh in October 2016 to expand the footprint of his Belt and Road initiative, he brought in tow more than 200 Chinese investors eager to fill the Cambodian capital’s skyline with billions of dollars in new properties.

Now, a city once known for its French colonial villas and modernist “New Khmer Architecture” in the 1960s is becoming unrecognizable. Heritage structures are being replaced with expensive high-rise condominiums in a city where the median household income is only around $11,000 per year.

“The pace of development for me is mind-blowing,” said Ross Wheble, country head of international realtor Knight Frank. “The high-end condo market is certainly oversupplied and what we are seeing now are sales and rentals are slowing. There are only a limited number of Cambodians who can buy these condos and for a market to be sustainable there needs to be domestic demand.”
https://www.bloomberg.com/news/features ... n-cambodia

13 September 2018
Morgan Ford Investment (Cambodia) Co.,Ltd is starting to develop a new commercial building called Morgan Tower, which will be located on Diamond island in Phnom Penh. The project plans to build a 210-meter landmark building of a total of 46 floors of super luxury 5A offices and apartments, with a helicopter pad on the roof for residents and businessmen.

Phnom Penh Is Home to 3,000 Construction Projects in 2018
24/12/18 21:21
Phnom Penh (FN), Dec. 24 – Phnom Penh, formerly known as Krong Chaktomuk is the capital and most populous city in Cambodia.

In 2018, Phnom Penh is home to approximately 2,860 construction projects, built on a surface area of 11 million square meters. It has the total investment capital of approximately $5 billion, a decrease of 19% compared $6.4 billion in 2017, according to the annual report of the Ministry of Land Management and Urban Planning.

Among the over 2,800 projects, the ministry monitored 245 projects, worth of $4.8 billion, whereas the remaining is under the authority of capital-provincial municipalities.

Once known as the "Pearl of Asia, Phnom Penh by far has over 1,200 five-storey-minimum buildings, and the number continues to grow with at least 100 per annum.
Fresh News, English version.http://en.freshnewsasia.com/index.php/e ... 36-48.html

December 28, 2018
Luxury residential project breaks ground in capital
China-based SRE Group has invested $100 million into a high-end commercial and residential project in Sen Sok district, with construction work beginning this week after a groundbreaking ceremony attended by the governor of Phnom Penh.

The project, named Romduol City, marks SRE Group’s first investment in the Kingdom.

Speaking at the ceremony on Wednesday, Phnom Penh’s governor Khuon Sreng said the project is testimony to the government’s success attracting overseas investment and building investor confidence in the real estate sector.

The project also reflects an increase in incomes in the capital, which has contributed to national economic growth and development, he added.

“Phnom Penh is a political, economic, cultural and tourist centre, and is one of the fastest-growing cities in Asean and the fourth fastest-growing city in the world,” Mr Sreng said.

The project is located in Sen Sok district, a key area for the city’s development plans that boast scientific, educational, and health facilities, as well as plenty of entertainment options, he added.

The developers described Romduol City as “an international ecological community,” and said it will occupy 16,327 square metres, with four high-rise buildings, two shopping malls and two parking lots.

Liu Feng, SRE Group CEO, said the company’s investment in the Kingdom is part of China’s Belt and Road Initiative (BRI).
https://www.khmertimeskh.com/50563828/l ... n-capital/

Phnom Penh, Cambodia News: A Chinese firm MorganFord is investing $ 600 million in new condominium tower in Phnom Penh's Chroy Changva area.
The inauguration and groundbreaking ceremony of the Morgan En Maison Building was held on the morning of November 23, 2019, with the participation of HE Deputy Prime Minister Hor Namhong.

He said that the company has been very helpful in investing in Cambodia and has contributed to increasing employment opportunities for Cambodian workers. "I've also seen a lot of MorganFord projects from 2008 through 2018 on various projects."

The future modern condominium building will have a height of 220 meters, 69 floors, and will have helicopter parking. The project is slated for completion in 2022 and will create jobs for Cambodians.

The blue stuff isn't blue, the green stuff isn't green, and the grey stuff in the middle doesn't exist.