Purchasing property in Phnom Penh? Big growth you need to know about happening in the new district of Kambol.
The district of Kambol is the newest district of Phnom Penh, only created 3 years ago in 2019, which was split off from the district of Por Sen Chey. There are big developments currently happening in the local area, and even bigger plans for the future. Large infrastructure projects and large private development projects are underway in the local area, making it one of the fastest growing and most desirable areas to purchase property in Phnom Penh. Whether you are looking for a great investment property to turn a profit, a bigger home for the family, a holiday or weekend home, or a commercial property to start a business, don’t overlook one of the fastest growing districts on the west side of the capital city Phnom Penh. Here are three big reasons why you should buy in the Kambol district or surrounding areas.
New expressway and other massive road projects
The government of Cambodia has been investing huge sums of money into the country’s road infrastructure, and Kambol district has some of the biggest. One of the largest road projects ever undertaken by the government (if not the largest to date) is the soon-to-be-completed Phnom Penh – Sihanoukville Expressway project. This $2 billion, multi-year project is nearing completion in a couple more months and will radically transform the economy of Cambodia. It will cut the time to travel from Phnom Penh to the coastal city of Sihanoukville from 5 hours to under 2.
Secondly, in addition to the expressway in the area, the Chom Chao overpass is now complete, expediting the travel time to and from National Road 4, National Road 3, and Russian Boulevard into the center of the city. This was recently completed earlier in 2022 and has eliminated the previous bottleneck junction completely and created a smooth-flowing under-overpass connecting these major thoroughfares. Lastly, Kambol district is slated to have several 60-meter-wide roads slicing and dicing through the entire district, which will further increase property values in the future.
New markets
The construction of the “new” nationally famous Damkor fresh produce market is reaching near completion of the structural stages of construction. This massive new fresh-produce market located in Kambol, is rumored to be a replacement for the existing outdated Damkor market located in the center of the city. The old Damkor market is the largest fresh-produce market in the nation, with over 100 tons of vegetables passing through the market daily. Once the new market is complete, the old market will likely be demolished and converted to more upscale property development projects due to the sky-high price of land it is located on. Other notable markets set to open in the local area are Romdul Market, a 2,000 square meter fresh produce and accessory market, and Williams Plaza, the first modern boutique shopping plaza in the district.
Amenities and large government initiatives
The largest lake in Phnom Penh is called Kop Srov Lake which spans across 3 districts including Kambol. A large percentage of this lake is set to be repurposed and rezoned to allow for private development. There are plans for hospitals, large garden attractions, large thoroughfares, and retail spaces in the allocated land. In addition, Kambol district is also in close proximity to the new national stadium, Pochentong International Airport, universities and international schools, Aeon 2 Mall, and Sen Sok commercial areas. Regardless of the type of property in Phnom Penh you are looking to buy, do not overlook this rising star local area in and around Kambol district.
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