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Cambodian condo market on BBC News

5-8-16 News

In a recent BBC report, Cambodia’s condo sector is in the world spotlight. 

“Cambodia’s capital Phnom Penh is on the rise. Glass, steel and concrete mega-structures are beginning to dominate the city’s skyline,” says BBC’s Nick Wood, “But as the capital grows, there are concerns that many of Phnom Penh’s residents will be squeezed out by the frenzy of construction projects.”

The report includes Victor Huot, Marketing Manager at Urbanland Asia, the developer behind Embassy Central and Embassy Residences.

Foreign Direct Investment is now at an all time high in the Kingdom, putting the Cambodian condo construction industry on a similar playing field to its larger, more-developed ASEAN neighbors.

However, the BBC speculate that current development is not suitable for most local buyers, given the average costs of most large scale condo projects currently underway in Cambodia.

Source By Realestate.com.kh

 

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