New overpass project breaks ground

New overpass project breaks ground

Thu, 29 November 2012 Seun Son Plan of Stueng Mean Chey fly-over bridge. Photograph: Pha Lina/Phnom Penh Post After its postponement more than two months ago, the third bridge and overpass project at Stueng Mean Chey saw ground broken on Monday by Prime Minister Hun Sen. The new bridge will cost $19 million and take developer OCIC 28 months to build. Prime Minister Hun Sen said the new bridge will help to reduce traffic jams in the area of Stueng Mean Chey, Chamkarmorn and Toul Kork. “Skybridge Stueng Mean Chey is a main point to connect 3 Khan (district) in Phnom Penh, sangkat Stueng Mean Chey in Khan Mean Chey, sangkat Tomnob Teuk in khan Chamkarmon and sangkat Boeung Salang in khan Toul Kork,” Hun Sen said. “We must build this bridge because this area has traffic jams throughout the day.” The project will reportedly resemble a butterfly when complete. The Stueng Mean Chey overpass is the third of its kind in Cambodia after the first at Kbal Thal that cost $6.4 million and the Seven Makara bridge, that cost $8.7 million.Read Original text To contact the reporter on this story: Seun Son at...
Three satellite city projects underway

Three satellite city projects underway

Thu, 29 November 2012 Seun Son A view of under construction Koh Pich town. Photograph: Hong Menea/Phnom Penh Post Three projects of the six satellite cities around Phnom Penh that were originally approved by the government have been “significantly” developed, according to officials of the Ministry of Land Management, Urban Planning and Construction. The ministry says the other three are still in the planning stages. The huge projects, costing hundreds of millions dollars, including housing development, economic zones, supermarkets, fitness centres, hotels, industrial parks, hospitals, and other public utilities. Lao Tepseiha, deputy director of the construction department of the Ministry of Land Management, Urban Planning and Construction, said that Koh Pich Island, Grand Phnom Penh International and Camko City have been significantly built among the key projects of the satellite cities. “Development on huge projects is potent and is pushing the building sector in Cambodia up,” he said. Six huge satellite cities were approved by the government, including Koh Pich satellite city in Phnom Penh’s Chamka Morn district’s Tonle Basac commune, Grand Phnom Penh International at Sensok district’s Khmunh commune, CAMKO City in Boeung Pong Peay developmental area at Sensok, Boeung Kak Lake in Daun Penh district’s Srais Chark commune, a future satellite city in Russey Keo district’s Chroy Chongva commune, and Oknha Ly Yong Phat’s satellite city along National Road 6. Tous Saphoeun, dean of the Architecture and Urban Planning Faculty of Mathematics, Sciences and Engineering of Pannasastra University of Cambodia, said that three huge projects are progressing well. “First, Koh Pich is conclusively progressing and then Grand Phnom International that is gradually finished its own project. Finally,...
Yangon building reprieved

Yangon building reprieved

Thu, 27 December 2012 Rupert Winchester The historic building at 233-235 Pansodan Street, Yangon. A historic building in central Yangon had a last-minute reprieve this week when conservationists managed to stop its demolition with a media campaign that received the backing of the government. The much-loved building at 233-235 Pansodan Street had been declared dangerous by Yangon City Development Committee, which had sent workers to tear it down. The building, which was a hostel for Burmese writers, artists and politicians during the country’s colonial era, became the subject of a last-minute campaign by the Yangon Heritage Trust, which prompted government officials to order the postponement of the demolition. “We heard that they halted the demolition after news spread through the media to higher authorities who ordered it to stop,” Moe Moe Lwin, the deputy chairman of the Yangon Heritage Trust told a news website. Only around 40 historic colonial building in downtown Yangon remain, and many have been declared restricted zones by the Yangon City Development Committee after falling into disrepair. Activists want the former capital’s iconic colonial architecture maintained and preserved, and worry that the remaining colonial buildings will be torn down to make space for hotels to cater to the country’s booming tourism industry. The Yangon Heritage Trust has highlighted the case of the Athor Ka Theatre, which has already been knocked down, and a modern replacement built instead. The Myanmar Lawyers Network recently asked the government not to auction the 101-year-old Yangon High Court and Police Commissioner’s Office to a group of Chinese and local business interests who plan to turn the buildings into a restaurant...
Phnom Penh’s new commune prices steady

Phnom Penh’s new commune prices steady

Thu, 27 December 2012 Siv Meng A map of a new area that has been transferred into Phnom Penh from Kandal. Land prices in Meanchey district’s four communes that had been transferred into Phnom Penh municipality’s control from Kandal province have held steady, despite the construction of Prek Samroung Bridge and the extension of roads to the area. Cheng Kheng, director of the CPL real estate company, said that though the bridge has been built and roads extended, the land prices within the four communes has not climbed because buyers are very careful before purchasing and investing, and consider potential income first. Sung Bonna, director of the Bonna Realty Group and president of the Cambodian Valuers and Estate Agents Association, said the price of land there should have increased, because of the bridge and roads, as well as a golf course and several more housing projects in the works, but in fact, land prices are still much the same as a year ago. “Those lands aren’t in so much demand as there are many sellers so the prices haven’t changed much. After the roads are completely finished and if the real estate situation is still good, the price of that land will be better then nowadays, especially in 2013, I hope,” he said. Meanchey Governor Kuch Chamroeun said that he is not aware of the land prices after the construction of the Prek Samroung Bridge, but says residents are satisfied because of their new connection to Phnom Penh city. Some of the roads will be finished in 2015. He added that Vel Sbov, Kbal Koh, Prek Aeng, and Prek...
Siem Reap hotels oversupplied

Siem Reap hotels oversupplied

Wed, 12 December 2012 Alistair Walsh Potential real estate investors in Siem Reap are being advised to look towards retail strips rather than hotels, according to Cambodian real estate professionals. Knight Frank’s Cambodia chief, Sunny Soo, said that while the hotel industry is well supplied, the town lacks an organised retail strip. “I think it can have a retail street. A more developed retail strip like you might find in Bali or Phuket would do well. It just doesn’t have a very organised retail street right now,” Soo said. He said there are more than enough hotels in the area, leaving it less attractive to hotel investors. “Siem Reap has developed to the stage whereby the supply is more than sufficient to cater for the existing and future demand,” Soo said, adding that with hotels, the occupancy rate isn’t that strong, apart from a few which are doing fairly well. “But new hotels usually do not perform that well. I do not know if the area can fit in another five-star hotel.” His thoughts are echoed by CBRE’s Simon Griffiths. “Today there is an oversupply of hotels in Siem Reap. Tourism figures are increasing and demand is in line with supply,” Griffiths. “Developers have been looking at possible residential developments for expats and the growing middle-class market. So that’s a shift away from tourism and retail is certainly a viable option, catering for people with disposable income. But that’s still a few years away.” Griffiths said there has been increasing developer interest in the town. “We are seeing an increase in activity. Just in the last couple of months...