As a result of Covid-19, Phnom Penh is now a five-million-person city, with an infrastructure that keeps extending the city day and night. Now the city is 90 kilometers from Wat Phnom, which is the city’s official center.
Phnom Penh: How much do you know about it?
Do you remember visiting Siem Reap? 15 years ago, Phnom Penh had a similar landscape to Siem Reap, where the tallest building is eight stories high. The biggest business center was in Park Ways, 5 floors, but it no longer exists. We should also recall that there is no air conditioning at the coffee shop, and only old men play chess there. If you want to walk with a pair of shoes in the middle of the street, nobody is going to care. Moa ste tong street are quiet, so you don’t need to worry. The amount of modern areas are desert, most of the transportation is by bicycle or motorbike. Since 1998, the city has been growing at a very fast pace. It has never stopped developing and expanding. People and investors would never have imagined it would attract such a large number of people and investors. A giant super mall, one of the largest in Asia, will be built here in 2022, with a 120-floor tower as its tallest building. For such a short period of time, the landscape changes so dramatically.
What is the point of caring about this?
No matter if you want to start a business, or a social project, you need to start in Phnom Penh. It’s the main economic zone in Cambodia. This is one of the most diverse economic engines in Asia, so you can test all kinds of markets. In contrast, there are few dynamic cities like Siem Reap, where tourism accounts for 90% of its activities, and Sihanoukville, where businesses have to adapt to the Chinese investor style of doing business.
Is there a reason why people don't like the city?
In order to understand the city, you need to see it from a different perspective, and understand where it is built. In spite of the fact that the building looks modern, it has multiple floors, underground tunnels, and it is built on a small city where the ground level is only one metre above the river level.
Hence, when it rains, the building water takes longer to circulate to the river, so don’t blame the flood. Traffic is generally structure for a population of 2 million, but we are now 250% more than expected. So don’t mind the traffic jam. When it’s hot in April, don’t mind blackouts and water cuts. There are simply too many people moving it.
What can you do to enjoy Phnom Penh?
When you understand the infrastructure of the city, you’ll figure out how to circulate and where to go when we get out. Currently, the best place to spend time is on the riverside, where it is always safe and always animates, as well as a bar and a restaurant that is open 24 hours a day. In order to get around the city, you will need to use Tuk Tuks or PassApps. As a great business center, the Supermall is the center of entertainment. It is important to note that Phnom Penh people tend to sleep early, so their doors are usually closed from 9 p.m. to 9 a.m. BKK is the second most busy place at night, with all the shops and restaurants you need. People are always looking out for you.
What are the best investments in Phnom Penh?
It is a highly crowded market for real estate and the price of pieces in the city is too high. The quality of construction, location, security, flooding, water and electric systems are all important. Therefore, if you are interested in investing, you should try renting the location for a while first. Once you are satisfied, you make your first move. Every location gives you a different feeling, so it depends on your style.
Second, food is a great investment, Cambodia loves food, and people who come to Cambodia love food, so if you can make something that is healthy, tasty, and nice, you have to try. Pilot, project, and test your market. People are willing to try anything new, and don’t forget that they’re all on social media.
How will Phnom Penh develop in the future?
Our new term for Phnom Penh is mega city, as it is one of the largest cities in Asia. It’s actually a good thing, because Cambodia is such a small country in terms of geography, so if the government concentrates on developing one big city that is located exactly in the middle of the country like this.
A large amount of micro-economy will be dispatched and distributed to the rest of the county due to its influence soon reaching the nearby provinces and cities.
Enjoy Phnom Penh!
No comment yet, add your voice below!