Experts Betting on ING City
Phnom Penh: Real estate experts predict that the area along Samdech Techo Hun Sen or ING CITY will be a major trade zone over the next 10 years.
Country Director of CBRE Cambodia, Ms. An Sothyana, said by phone on Sept. 7 that as this area is new, infrastructure is easier to set up than older parts of the city.
She said that the price of land in the area has increased dramatically since the road was built. Three kilometers from the city, prices are between $ 1,000 and $ 1,300, from Kilo 3 to 6, the estimated value is approximately $ 800 and betweeb 6 km to 9 km costs are between $ 350 and $ 500 per square meter.
“The area is booming. Over the next five years, it will be a residential area and after a period of ten years, I think the area will turn into a commercial zone. ”
Today, the area is booming, with many residences being built, such as Borey Peng Hut Borey WOODLAND, AEON MALL3 Shopping Center and Bopha Chip Mong Mall.
Meanwhile, Va Virak, an international real estate expert and CEO of Century21 Fortuna Investment, also said that there is are many investment projects. The area has potential to become well-developed and could be the largest commercial sector in Phnom Penh.
“I think this area deserves a future commercial area because it is a good place to be a new city,” he said. One that is large and well-connected, “he said. Close to Takmao and if a new airport is built in Kandal Stung district , there will be more traffic and commercial activity. ”
According to the ING Holding Plan, the satellite city of ING CITY covers over 2,000 hectares of land, making it one of the largest satellite cities in Phnom Penh. According to the plan, the company plans to develop this area as a green development and respect for environmental principles.
According to the document, the company plans to develop the area with housing, a business center, parking lot, retirement community and National Sports Center.
Godfather of modern Cambodian architecture, Dr. Vann Molyvann, recommended developing Phnom Penh to the south.
