The Phnom Penh property market witnessed a significant increase in development activity over the first quarter, with investment in construction and residential project launches up 267% and 61.6%, year-on-year, respectively.
 
Land Prices appreciated by an average of 4.8% over the first quarter across Phnom Penh’s six principal districts. Prices in Chroy Chang Va district rose by 8.8%, bringing its total land price appreciation to 208% since Q1 2010, driven by a combination of infrastructure improvements, local development activity and the continued expansion of the city’s core areas.
 
2016 is set to welcome the arrival of Hongkong Land’s Exchange Square, a flagship mixed-use development comprising 18,000 sq.m of office and 8,000 sq.m of retail space, in addition of Parkson Phnom Penh City Centre, comprising 57,000 sq.m of retail. Both projects will further expand the presence of international retailers in the capital, which over the past 24 months has witnessed the arrival of brands such as Hugo Boss, L'Occitane, TWG, and Domino’s, with Starbucks having opened its doors in December 2015.

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