Cambodia: Land Prices Surge Along 60 Meter Road, Driven by New Airport Development

Land prices along 60 Meter Road (Samdech Hun Sen Boulevard) in Cambodia's capital, Phnom Penh, have surged significantly, with current market sales ranging from $1200 to $1500 per square meter, according to a major real estate company. Kim Kinkesa, CEO of APS Real Estate, stated that land prices in the Samdech Hun Sen Boulevard area have risen sharply from $500 before development to the current range of $1200-$1500 per square meter. She asserted that 60 Meter Road is a crucial artery connecting Phnom Penh to the Techo International Airport, and with much of the development shifting southwards, the road is becoming a vital economic lifeline. Beyond commercial building investment projects, Samdech Hun Sen Boulevard is also emerging as a major automotive market hub. Currently, over 20 car brands are operating or preparing to open in the area. Lee Juyongheng, CEO of Auto City, confirmed that the company has invested in a 5-hectare automotive showroom center on 60 Meter Road. He emphasized that despite the high land value, this is a long-term investment aimed at transforming the area into the largest automotive business community. In comparison, land in the Boeung Keng Kang area remains a prime destination for commercial building and condominium projects, with prices ranging from $4000 to $5000 per square meter. Developers can sell condominiums at high prices in Boeung Keng Kang. However, on 60 Meter Road, development is likely to focus on affordable to mid-range projects, with condominiums expected to sell for $800 to $1000 per square meter. Industry experts predict that land prices in the 60 Meter Road area will remain stable or not experience rapid increases in the next four to five years, unless new mega-development projects enter the market. Developers tend to continue acquiring land in the city center until prices become prohibitively high. Once that occurs, the flow of major investment projects is expected to shift towards suburban areas like 60 Meter Road.