Land Prices Surge Along Phnom Penh's 60-Metre Boulevard Amid Development Boom

Land prices along Phnom Penh's 60-Metre Boulevard have seen a dramatic increase, now ranging from US$1,200 to US$1,500 per square metre, more than doubling from pre-development levels. This surge is attributed to the ongoing expansion of the city towards the south, particularly around the newly operational Techo International Airport, which is located approximately 19 kilometres from the capital.

According to APS Real Estate, the boulevard has emerged as a key growth corridor due to its direct connection to the airport. Kim Kinkesa, CEO of APS Real Estate, emphasized that the area is becoming increasingly attractive for investment, positioning it as a vital economic zone. She stated that development momentum has shifted towards the southern districts, with the airport project acting as a major catalyst for investment.

“The development momentum has shifted towards the southern districts, with the airport project acting as a major catalyst for investment.”Kim Kinkesa, CEO of APS Real Estate

In addition to residential and commercial real estate, the 60-Metre Boulevard is rapidly evolving into Cambodia's largest automotive retail district. More than 20 international vehicle brands are either establishing or planning to open showrooms along this corridor. Ly Chongheng, Project Director of Auto City, noted that despite rising land costs, the company has invested in a five-hectare automotive exhibition and dealership centre, aiming to create a significant automotive business community in the area.

“Despite rising land costs, we aim to establish the area as Cambodia's largest automotive business community.”Ly Chongheng, Project Director of Auto City

While land prices along the 60-Metre Boulevard have surged, they remain significantly lower than those in Phnom Penh's established central business districts. For instance, land in the Boeung Keng Kang (BKK) area trades at between US$4,000 and US$5,000 per square metre, reflecting its status as one of the city’s most developed commercial and residential markets. This price disparity influences the types of developments that are financially viable; developers along the 60-Metre Boulevard are more inclined to pursue affordable and mid-market housing projects, with condominium prices typically ranging from US$800 to US$1,000 per square metre.

Looking forward, APS Real Estate forecasts that land prices along the boulevard will remain stable over the next four to five years, barring any significant new investment projects that could drive demand. The focus for developers continues to be on acquiring land in central Phnom Penh, with larger projects in suburban areas like the 60-Metre Boulevard expected to gain traction only once inner-city land prices become less competitive.

“The real estate sector is expected to rebound in early 2026 due to increased production and a strengthening global economy.”Sie Rethy, prominent businessman

In a broader context, the Cambodian real estate sector is anticipated to rebound in early 2026, as highlighted by prominent businessman Sie Rethy, who mentioned that the sector has faced stagnation over the past three years. He attributes the expected recovery to increased production and a strengthening global economy. The Ministry of Economy and Finance has projected modest growth rates of 2.5% for the construction sector and 2.6% for real estate in 2025.