Even with a flurry of road infrastructure projects nearing completion, Sihanoukville’s real estate market belies the promise of robust growth that 2018 brought for the once-sleepy coastal town, according to observers in the Kingdom.
Warehouse rental demand and prices have remained similar at similar levels of those in the year-ago period as Covid-19 vaccination campaigns in Cambodia and around the world set a positive tone for the market, according to industry experts.
Local developer 5LH Lorn City Development Co Ltd’s (Lorn City Group) $100 million residential project broke ground on February 22 morning in Preah Sihanouk, to meet the growing housing demand in the coastal province, the provincial administration said in the press release.
New York Stock Exchange- (NYSE) listed hotel franchiser Wyndham Hotels & Resorts Inc (WH) has opened its first hotel in the Kingdom – the Howard Johnson Plaza by Wyndham Blue Bay Sihanoukville, WH said in a February 18 press release.
Cambodia's residential market is expected to begin the year growing at a slower pace that year-ago readings – as fears of a protracted Covid-19 pandemic stagnate prices – but close out 2021 with a modest boost, according to industry insiders.
Canopy Sands Development Co Ltd, a member of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, approved a master plan to develop Preah Sihanouk province’s Ream bay into the $16 billion Ream City.
The land division market in Mondulkiri provincial capital Sen Monorom town has begun to sprout in earnest following in the footsteps of Phnom Penh and a handful of provinces.
Initial construction of a nearly $30 million tourism infrastructure project on Preah Sihanouk province’s Koh Preus Island is “about 70 per cent complete”, according to an official with the developer.
Central Trust Co Ltd, a joint venture between Cambodian and Chinese investors with a trustee licence in hand, has launched the first real estate trust products in the Kingdom.
The $180 million The Hyatt Regency Phnom Penh hotel is set to launch in January, marking the brand’s first venture into the Kingdom’s capital.