Phnom Penh city's development is shaping a new lifestyle destination with the ongoing completion of promising residential and commercial projects. Combining a majestic river landscape and state-of-art facilities, the booming Chroy Changvar area is set to be an exciting residential, leisure and commercial hub.
Upcoming projects in the surroundings include OCIC's ''City of the future'' project (Canadia bank investment on 387 hectares), the Japanese Kitahara International Hospital, the new American university campus, a golf field, the new Tonle Sap riverside, boreys and others luxury villas all within walking distance from Galaxy Residence.
Supported by the government, Chroy Changvar is subject to heavy public investments. The ongoing completion of the second bridge, the expansion of the roads, the new embankments and walkways are currently driving the prices up. From 2014 onward and particularly over the next 2-to-5 years, Chroy Changvar will become intensively developed.
In Chroy Changvar, along the National Road 6A, land and real estate prices increased by 25% between 2012 and 2013, by 10% between 2013 and 2014. Experts predict that land and real estate prices will increase by around 15% in 2014 while the 2015 ASEAN Economic Integration, which will lead to an increased flow of investors coming to Cambodia, will push the land and real estate prices up by 20% to 25% more.