3.3主な投資分野：プノンペン

According to the General Population Census 2019, Phnom Penh is home to over 2 million residents, that’s about 3,136 people per square kilometre. As the city is the most populated urban centre in the country, and houses the seat of government, it remains the centre of foreign investment in the Kingdom. The Realestate.com.kh Consumer Sentiment Survey 2019 showed that 54% of respondents said that location was the defining factor influencing their property purchase. At the same time, 76% of property buyers said Phnom Penh was where they were looking to buy property; suburban areas like Toul Kork, Chamkarmon, and Sen Sok topping the preference list.

プノンペンは今、首都圏から期待するものすべてを提供しています。そのショッピングセンター、モール、高層ビル、ホテルだけでなく、飲食店やエンターテイメントのオプションは、世界中から観光客を描画し、国外在住者の家の味を与えるのに役立ちます。

The whole of Phnom Penh’s economic activity encompasses an array of industries, from garment, agricultural processing, to multiple forms of goods trading. In recent years, Phnom Penh’s financial sector has seen plenty of growth especially with the establishment of the Cambodia Stock Exchange (CSX) in 2012. The CSX set a new record of $151 million raised from securities and corporate bond trading in 2019. This is a 26% increase from last year’s $120 million raised.

Siem Reap temples come to mind whenever tourism in Cambodia is talked about. But as of Q3 2019, Phnom Penh has overtaken Siem Reap in terms of tourists arrivals, according to data from the Ministry of Tourism. Over 1.5 million people have landed in Phnom Penh’s international airport in the first 9 months of 2019.

The government expects that the volume of tourists arriving in Phnom Penh per year would more than double by 2030, hence, the construction of the new international Phnom Penh airport in Kandal province operational in 4-5 years time.

Real estate in Phnom Penh’s city centre boasts the highest dollar per square metre in the country while still being attractive to foreign investors. For Cambodia’s growing retail sector, retail spaces range from $18 per sqm up to $40 per sqm depending on its location.

For condominiums, current projects range from $1,500 per sqm up to $3,500 per sqm. Borey developments, in particular, are seeing a steep rise in local interest and are now up for sale from $800 per sqm up to $1,700 per sqm.

首都の小売不動産市場も大きな変化を遂げています。 国際的なブランドが今までない速度で現地市場に参入しています。 一部のブランドは地元の中産階級をターゲットにしていますが、海外ブランドや地元の高層社会をターゲットにしているブランドもあります。 この影響を受け、地元の小売業者は飛躍的な発展を遂げています。↵

最も注目すべきは、カンボジアの首都に高品質のショッピング施設が流入していることです。 日本のイオンショッピングセンターは、2014年夏にオープンした最初の高級ショッピングモールでした。 事実がその成功を証明しています。 ここの週末は、買い物客が田舎から首都へ旅行することで混雑することがよくあります。 イオンモールの2号店は初めにオープンし、2018年に3号店のイーオンモールは、2023年にプノンペンの南で完成すると発表されました

Retail spaces will be seeing continuous and massive growth in the immediate future (3 to 4 years) as more shopping centres and malls begin opening their doors. According to Knight Frank, the current supply of retail space number at 338,505 sqm net leasable area as of H1 2019. This is expected to increase to a little over 1 million sqm of net leasable area by 2021 as both local and international developers expand their businesses in Phnom Penh.

Condominium projects in Phnom Penh will similarly continue to be built as foreign demand and the appeal of living within the city centres increases in appeal among local buyers. Current total supply of condominium units number a little over 17,000 units which is expected to triple to over 52,000 units by the end of 2022. Much of these projected condominiums are targeting local buyers by pricing themselves in mid-tier ranges ($75,000 to $125,000) since solely relying on foreign demand, despite their influx, is not a sustainable strategy.

Realestate.com.kh projects 2019 could be another breakthrough year for borey developers. According to data from Knight Frank, the current supply of housing units amounted to 51,278 in the first half of 2019 alone. At the same time, 18 new borey projects were launched all around Phnom Penh, which is projected to add another 22,549 units ready to be handed over by the end of 2022.

As most (59%) of these units are classified as mid-tier, a wide range of the homebuyer market would be interested in purchasing this type of landed property. The Consumer Sentiment Survey 2019 data also shows that almost a third of over 2,000 respondents indicated they are interested in a borey house.

The areas of Sen Sok, Russey Keo and Kamboul are where most of the borey developments are in Phnom Penh. These are followed by the districts of Dang Kao, Mean Chey, Chbar Ampov, and Chroy Changvar.

プノンペンの中心部に位置するチョロイ・チャンバー区は、これから数年で注目になれる地域であることが証明されています。 地元および国際的な投資家の需要が増加するにつれて、ここで多くの新しい開発が現れました。 大都市のように混雑ではないし、コアエリアにも近い、価格は他の中央エリアよりも手頃です。

As a result, a wealth of new developments have popped up on the strength of increasing demand from both local and international investors. According to the Consumer Sentiment Survey 2019, most buyers (55%) value location as the main criteria for a property purchase. It could very well be assumed that local residents have been considering the growing traffic problem as a motivation to purchase property.

Office space property is growing considerably within Phnom Penh. The office space supply has grown to 463,701 sqm NLA with the addition of 3 Grade B office buildings in H1 2019 according to Knight Frank. Office spaces are expected to continue to grow with an expected 75% increase in Grade A office stock within the capital by 2022. But as things stand, Grade B and C office complexes remain the most popular choices for businesses in Cambodia.

The entry of strata-titled offices is an intriguing new area of investment. According to Knight Frank, yield-drive investors may be attracted to stratified office investments as the condominium markets hit equilibrium. As mentioned in the previous sections of this guide, strata titled office spaces are still new to the market and its wider market acceptance is yet to be determined.

プノンペンの商業用不動産市場の成長は、特にカンボジアがASEAN経済共同体（AEC）に参加して以来、今後も継続します。 中国からの投資家が中国に集まるにつれて、多くの開発者が成長する中流階級の従業員に対応するプロジェクトを開発しています。 一部のスペースはレンタルのみ可能ですが、他のスペースはコロングアイランドを提供し、投資家が直接購入できるようにします。