Without toll charges, northwest Phnom Penh gains traction
Without toll charges, northwest Phnom Penh gains traction
Phnom Penh and Kompong Speu relations have been strengthened after the halt of toll operations on National Road 4, while factories, enterprises, and the population continue to grow, according to property experts and officials.
Nim Niradeth, governor of Ang Snoul district in Kompong Speu province, said that there are currently 70 factories and enterprises, 89,476 residents, and 49,292 factory workers in Ang Snoul divided between 10 communes and 200 villages.
“Ang Snoul district will be even more developed if more investment pours into this area because the land price here has not increased that much over [the last couple of years],” he said.
Po Eavkong, general manager of Asia Real Estate, said that there are several factors that could drive development to that area.
“Firstly, there is more land activity now that there are more residents, most of whom belong to the lower- and middle-class populations. Secondly, there is an increase in land demands to build factories, enterprises, rental housing for factory workers, and a dry port,” he said.
“Furthermore, the cancellation of the National Road 4 tolls contributes to more developments coming into this area.”
He continued that on average, the price of land along National Road 4 increased by 10 per cent in 2015, while land along smaller roads increased from 5 per cent to 10 per cent.
“Larger plots of land from Chorm Chav to Kombol vary in price from $150 to $200 per square metre, while land for residential and commercial projects cost from $300 to $1,000. On the other hand, large plots of land from Kombol to Kompong Speu province only cost between $30 to $70 per square metre,” he explained.
With the stoppage of road tolls, Eavkong believes that the land will become even more favorable for factories and enterprises and that development will increase trade while easing the cost of logistics.
