As Cambodia’s economy continues its steady growth, an exciting shift is unfolding in the nation’s real estate market. This Southeast Asian gem, known for its enchanting ancient temples and vibrant urban life, is experiencing a surge in property developments that are reshaping its cities’ landscapes. This transformation sets a benchmark for urban living, seamlessly blending traditional aesthetics with modern designs and technologies.
This Southeast Asian gem, known for its enchanting ancient temples and vibrant urban life, is experiencing a surge in property developments that are reshaping its cities’ landscapes.
Despite challenges posed by the pandemic and geopolitical uncertainties, Cambodia’s real estate market shows remarkable resilience. With a robust recovery path, marked by a projected GDP growth of 5.3% in 2022, increasing to 6.2% in 2023 as per the Asian Development Bank, the nation’s property market is poised for a resurgence.
In the bustling capital of Phnom Penh, the Diamond Bay Garden by OCIC Group has raised the bar by securing the Best Condo Development in Cambodia award at the 8th annual PropertyGuru Cambodia Property Awards. This mixed-use development embodies urban luxury, offering panoramic views of the city and three rivers — Mekong, Tonle Sap, and Bassac. With its masterfully designed residences and a blend of contemporary floor plans, Diamond Bay Garden provides an elevated living experience. Residents enjoy the best of both worlds—a peaceful sanctuary tucked away from the city’s hustle and bustle, yet conveniently connected to shopping centers, parks, and bustling downtown Phnom Penh.
Marum Estate, a project by Sir Stamford Raffles (Cambodia) Co., Ltd., represents a fusion of modern living standards and natural beauty, earning it the Best Housing Architectural Design and Best Housing Landscape Design awards. Situated in South Kandal province, this 22.6-hectare gated community comprises over 900 residential and retail units.
According to the judges of the PropertyGuru Cambodia Property Awards, “Marum Estate by Sir Stamford Raffles (Cambodia) is a botanical beauty. Within this green landscape is a beautifully balanced enclave of villas, with retail units open to the public, a food court, a community centre, and a swimming pool. The whole development is a sanctuary of commercial and residential interests.”
Residents enjoy access to high-quality amenities, security systems, and a sustainable living environment with theme gardens. Conveniently located near the new Phnom Penh International Airport and city center, Marum Estate provides an ideal balance of tranquility and connectivity.
Claiming the Best Affordable Condo Development (Phnom Penh) award, The Garden Residency 2 by JS Land Plc. epitomizes sustainable urban living.
This innovative project combines a green-living wall facade, exceptional communal facilities, and a mechanical carpark system, creating an oasis in the heart of Phnom Penh. Offering unobstructed skyline views, the development provides a connection to the vibrant energy of the city while encouraging sustainable living.
Beyond the capital, Sihanoukville, a coastal city once marred by overdevelopment and a decline in tourism, is emerging as a property investment hotspot. The city is reinventing itself with the anticipated growth of the middle class, new infrastructure, and innovative real estate projects. One shining example is the Bay of Lights by Canopy Sands Development, which was acclaimed for the Best Township Masterplan Design. This expansive 934-hectare development harmoniously blends luxury, nature, and technology. From Cambodia’s longest man-made beach to a state-of-the-art Cable Car system, the Bay of Lights is a testament to visionary urban planning.
“Lifestyle potential is the design blueprint for the incredible Bay of Lights by Canopy Sands Development in Prey Nob,” explained the judges, “Nine districts boast distinct characteristics, with a waterfront promenade, cable car, cycle lanes, and ample open spaces connecting communities. Residences, leisure experiences, retail, and cutting-edge business spaces define a dynamic township.”
Another exemplar, Siha Residence by Siha Property Co., Ltd, honored with the Best Housing Development in Cambodia, promotes family interaction with its integrated living spaces and provides modern amenities in a design that blends with natural surroundings.
The urban evolution isn’t confined to the capital or the coastline. In Greater Phnom Penh, Apsor Mera by Bosba Property Co., Ltd has earned the Best Housing Development award. Integrating modern technology with pleasing aesthetics, Apsor Mera offers a luxurious and comfortable living experience, comparable to a five-star hotel.
In Siem Reap, Angkor Sereymongkol by Sok Tonh Real Estate stands tall as a tribute to Cambodia’s architectural heritage. Its houses ingeniously blend traditional Khmer designs with modern infrastructure, rightfully earning it the Best Residential Development award.
Vong Residence by Bossba Investment Co., Ltd, recipient of the Best Housing Interior Design award, stands as a stunning new residential complex in the heart of Phnom Penh. The perfect abode for those seeking luxury and comfort, Vong Residence boasts exceptional facilities, prime location, and cutting-edge security measures.
Each development intricately weaves into Cambodia’s urban tapestry, fostering a vibrant living experience that resonates with the spirit of the nation. As Cambodia embraces the future, its property sector stands as a testimony to its enduring charm and unwavering determination to excel on the global stage.
“The Awards this year continue to celebrate success in the Cambodia property market,” said Jules Kay, GM of PropertyGuru Asia Property Awards and Events. “With growing interest from both local buyers and international investors in quality homes and developments, Cambodia truly remains one of the region’s most significant and impressive frontier markets.”