National Road 11 development drives land prices up in Prey Veng

February 22, 2022

National Road 11 passes through the countryside east of Phnom Penh. Supplied.

Infrastructure projects are often generational endeavours, meaning that if a project starts today, its full benefits could only be realised a generation or two later. But Cambodia, despite the pandemic, continues to make strides in its national infrastructure and is pushing the calendar up in reaping the benefits.

The most recent of these projects is the completion of National Road 11 (NR11). Realestate.com.kh, Cambodia’s largest online real estate classifieds portal, observed that land prices around the roadway have been picking up since it finished construction in late 2021.

The construction of National Road 11 has an estimated cost of about $98.388 million US dollars, financed by the Commonwealth of the People's Republic of China. The road’s construction began December 2017 and took 44 months to complete. The road was inaugurated on December 6, 2021 by the Royal Government of Cambodia.

National Road 11 was inaugurated in late 2021. Supplied.

Much of the value of the land adjacent to the national road was between $40 to $50 per square metre. This price has nearly doubled to anywhere between $70 to $80 per square metre as of reporting. This jump in price is not uncommon in Cambodia’s fast-developing real estate sector.

In 2019, the development of the 202 km-long National Road 3 started driving land prices in areas in crosses. For example, Chaom Chao to Kampong Toul Bridge - right at the city boundary of Phnom Penh - to well over $200 per square metre. Past Kampong Toul Bridge, land properties around $20 per square metre have risen to almost $80 as road infrastructure projects approach completion.

National Road 11 connects economic corridors vital to Cambodia’s development plans. Supplied.

The development of National Road 11 has attracted property developers and other land investors. There have been inquiries coming from warehouses, gas stations and other entrepreneurial projects over the months since being inaugurated.

National Road 11 links two economic corridors in Cambodia, namely: National Road 6 leading to the Cambodian-Thai Border in Poipet and National Road 1 which leads to the Cambodian-Vietnamese Border in Bavet.

NR11 stretches 96 kilometres from the National Road 1 intersection in Neak Leung in Prey Veng Province, just before the boundary with Kandal. NR11 then intersects with National 8 and ends with an intersection with National Road 7 further up north, allowing transportation vehicles to bypass the busy roads of Phnom Penh to get to National Road 6.

National Road 3 and 11 are but a few of the many other national infrastructure projects the Royal Government is currently overseeing. Prices around these roads are expected to increase in price as more investments, particularly in manufacturing and logistics in Cambodia drive the need for a reliable national road network.

 Source: https://www.realestate.com.kh/news/land-price-near-national-road-11-seem-grow-up/