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KK Asset Management Asia co., Ltd. Cambodia
Cambodia basic knowledge Growing Cambodia
Why is Cambodia attracting attention now? There is a big reason there.
That is because we are trying to achieve unprecedented high growth.
The photo on the right is Phnom Penh in 2010. Although it is still the capital, there are still few buildings. At this point, Chinese investment has already begun to enter.
This is Phnom Penh in 2019.
The number of buildings has increased steadily in just nine years. It is mainly Chinese, but it also contains Korean capital. From now on, the construction of buildings and hotels with Japanese capital will start in 2023, and the Hilton Hotel will also open.
Phnom Penh in 2024
This is Phnom Penh in 2023. The buildings have been completed and we can see that the city is being modernized. Currently, the tallest building is "The Peak", which is 220 meters tall. NagaWorld 3, which is currently under construction, will be a building that is over 300 meters tall.
Working population x investment money inflow = factors for Cambodian economic development
Abundant working population
GDP has been around 7% on average annually. The government is increasing the number of special economic zones and actively attracting domestic and foreign companies. As a result, employment has expanded and national power has increased. In this way, as national power rises, prices also rise, especially land prices. Looking at this background, we can see that we have entered the growth stage.
The power of an average age of 24
The average age of Cambodia is as young as 24 years old.
They "want to be better" and "want to live a better life"
I work diligently because I have such aspirations.
Originally, because of the national character of working hard and the low wages,
Companies from overseas are steadily expanding.
This cycle is boosting the Cambodian economy.
* Lunch break in the special economic zone
The same situation as in postwar Japan
Now that Cambodia is at the same level as Japan in 1945-60,
We are about to enter a period of high economic miracle.
The reason why there are few people in their 50s or older is
It was due to the Pol Pot regime that took place from 1975 to 1979.
From now on, the younger generation will be the human resources who support Cambodia.
In recent years, many people have come to Phnom Penh from rural areas in search of work.
Phnom Penh's population has grown from 900,000 to over 1.4 million over the last decade.
Therefore, we are in a hurry to expand the industry and improve the infrastructure.
The biggest growth factor is foreign investment
Today, Cambodia is attracting investment from all over the world.
In particular, huge investment from China is the driving force of development.
Infrastructure equipment by ODA, real estate development from companies ...
There are investments and support funds from many countries and companies, including Japan, but the most outstanding is the funds from China.
We are investing in all fields such as roads, bridges, railways, real estate, satellites, finance, and airport relocation plans.
Among them, the construction of roads and bridges is still highly effective, pushing up land prices.
For reference, Japan, South Korea, Singapore and other countries are also supporting and investing.
Master plan map and urban area where development is progressing
Phnom Penh under development is based on the master plan
Many buildings have begun to line up in Phnom Penh, and urbanization is progressing.
Many companies have entered the city, and the city is beginning to change drastically due to the increase in building construction and the development of the city.
You can see how development work is progressing throughout the city and the entire city is modernizing.
This is due to the master plan.
By the "economic development plan of the government-led" is the master plan, such as a sub-center of the development and suburban areas of the capital Phnom Penh, has been developed on the basis of this master plan.
Phnom Penh Development Master Plan 2014
Points of Cambodia development About the master plan
Specific contents of the master plan
Develop within a radius of 30 km from the Royal Palace, the center of Phnom Penh. (Development based on the idea that the royal palace is the center of the city)
Expand the scale of the capital Phnom Penh and make each area north, south, east and north into a subcenter.
-North: Garden City Development A large city of 2000 hectares is planned.
That area of 500 hectares will be Chinatown.
・ Southern: A modern area for Cambodians by a major developer ING.
A big city beyond imagination will be developed. The third largest Aeon store in Asia will be opened here.
・ Nishi: Area centered on logistics and distribution.
A new airport is also planned for the part.
・ Eastern: Towns are being created for the majority of middle-income and workers who support the Cambodian economy.
Initially, residential areas for the middle to labor were being developed.
However, when the bridge is completed, it will be close to Phnom Penh, so many wealthy people will buy a housing development site near the inner ring line.
Therefore, the price went up.
"Ring road plan" connecting each area By connecting with the inner, middle and outer ring roads, an economic flow line with the capital Phnom Penh can be established.
A national highway (road width 30m) and a monorail will open on the ring road in the future.
Ring road plan
In the master plan, the suburbs (north, south, east, and west) centering on Phnom Penh are connected by three ring roads (blue lines).
The yellow line has become the main road and is being newly constructed or the road width is being widened.
In the near future, the modern city of Phnom Penh and the subcenter of the suburbs will be completed.
Urban development and the effect of the loop line ・ Create a new economic zone.
・ Develop a suburban area in Phnom Penh to centralize the population and create a city where the middle class and below can live comfortably.
・ By enhancing public transportation, it will become an environmentally friendly satellite city.
・ Stabilize the lives of the people by improving the working environment.
Summary
In this way, we aim to become an economically developing country by consolidating the economic zone and making it a satellite city.
As a result, support and investment money have been received from around the world, and development in Phnom Penh and its suburbs is progressing, so prices are naturally rising and land prices are rising.
The price of Phnom Penh has already risen, but the "suburban area", which is under development, is still in the low price range, so now is the time.
