Smoother rides on Cambodia National Road 3 by 2021 as real estate prices spike

The improvement project of National Road 3 that links Phnom Penh to Kampot province has now reached 89 percent. The project started in May 2018 and is  estimated to cost approximately $219 million.

The upgraded National Road 3 will also connect Cambodia’s natural tourist and coastal areas to Phnom Penh, the heart of the country.

Prime Minister Hun Sen has explained that this project is very important for Cambodia. “Once National Road 3 is completed, people will save much time and costs in traveling. Through this road, people who want to visit Sihanoukville can also travel along this highway. In the same way, those who reside along this road will see their income grow through various economic activities” he said.

A direct consequence of the upgrading works of National Road 3, has led to property values jumping significantly in the past few years. Land value from Chaom Chao to Kampong Toul Bridge, the border between Phnom Penh and Kandal province, is now valued at between $200 and $400 per sqm since it is suitable for residential projects.

On the other hand, land and real estate from Kampong Toul Bridge to Ang Tasom, land considered to be suitable for industrial development, is valued a between $20 to $80 per sqm.

 

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