Source: Phnom Penh Post
Fifty kilometres away from Phnom Penh lies Chba Morn city, the previous provincial capital of Kampong Speu, which has been a relatively quiet province with little infrastructural activity. The last couple of years, however, has seen the city going through a transformation with the expansion of National Road 4, which cuts through it.
In addition, two borey projects have sprung up, commencing construction last year. Borey Sokha Pali is currently being developed in the city centre, while Borey Sovann is rising up to the south of National Road 4.
Tat Malai, Kampong Speu’s head of land management, urban planning, and construction, noted that each of the locally invested boreys will occupy at least 10 hectares of land.
Seeing this as starting the investor ball rolling, Malai added, “Chba Morn city is currently vying for the attention of factory and construction investors, as land value in Cambodia continues to rise without cause to cease anytime soon, which will enable this city to attract a large amount of laborers to fill the employment spaces in factories.”
While the boreys are targeted at residents from Kampong Speu, he said some of the buyers were made up of Phnom Penh locals.
Although Borey Sovann’s developer, Tong Seng, could not be reached for further details, Malai said the borey would have all the typical amenities – a public park, children’s playground, soccer field, sports courts, and a market space. Due to its proximity with National Road 4, the houses at the front of the line cost up to $10,000 each for a one-and-a-half storey unit, according to the borey’s manager who declined to be named.
“As for the houses around the market area, they cost $40,000 to $80,000,” he added.
Borey Sokha Pali, on the other hand, has housing units measuring 16 metres by five metres, costing between $30,000 and $40,000. Its location in the city centre ensures that it is noticeable from the big roads running through the city, and covers a total land area of 13 hectares.
In general, the land value in Chba Morn city is reasonable, with lands along the medial sides of the road priced at $30 to $40 per square metre.
According to a 2008 population census, Kampong Speu has a total population of 710,000 people. As of now, the offices of the Ministry of Planning claim that the population stands at 800,000.