Superb 0.27HA under market Riverfront land for sale Norodom Boulevard Tonle Bassac | central Phnom Penh

Details

This incredible riverfront land on Norodom Boulevard in Tonle Bassac, central Phnom Penh is now available for sale at a heavily discounted price.

Location:              Chamkarmon

Tenure:                 Freehold hard title (mixed use)

Area:                    2767sqm

Asking price:       $4500/sqm (was $7500/sqm)

Discount:           40%

Price:                    US$12,450,000

Flexible payment terms:

• 10% deposit
• 30% on SPA signing
• Remaining 60% to be paid over 1-2 years

Original ID: TLBB.M1

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We also have apartments, condos, office spaces in Phnom Penh, Siem Reap, Kampot and Sihanoukville.

About Tonle Bassac

This Sangkat in Khan Chamkarmon, is located on the west side of the Bassac River. It covers around 3sqm flanked by Sihanouk Blvd, Norodom Blvd and National Road 1.

The area has many small alleys that branch off into larger streets, full of bars and restaurants, hotels and residences secluded from the busy city centre.

The reclaimed land (known as Koh Pich) has undergone significant development with numerous condos, exhibition halls, hotels and other iconic developments, such as The Bridge, The Peak and DI Riviera.

A number of embassies are also located nearby, such as – Thai, Australian, Japanese, Indonesian, Russian, Malaysian, South Korea and Philippines.

The area is also home to many government buildings and gated communities, so you will notice increased security presence (private, police and national security).

About Bassac Lane:

Despite the widespread devastation of the hospitality industry by COVID-19, one precinct in Phnom Penh seems to be defying all odds and operating almost Business as Usual.

In the leafy backstreets are streets 308 and St 21, where you will find small, high-end bars and restaurants that will soon be surrounded by new condos and more night venues.

COVID-19 did slow business in this area for a while, but it bounced back and now on weekends, the night air is filled with music and laughter as people return to their old habits.

This neighbourhood is now so full of bars and hole-in-the-wall venues, that new venues are spilling into Street 308 and Street 21.

Because land prices here are 10-20% less than BKK 1, prices are cheaper all round. Prices of food and beverages are comparatively cheap.

You can find a bar selling cocktails at $3, draught beer at $1 and meals from $5.

Amidst the general activity, there is a sense of optimism despite the tight border controls keeping tourist numbers down.

Instead of going to the usual haunts, check out the lane where the nights are a little bit brighter.

About nearby Diamond Island:

Diamond Island is a recent addition to the Phnom Penh skyline from Koh (Island) and Pich (Diamond). It is an artificial island built around 2000 on the Bassac River.

Before then, the area was home to a few fishing families. In 2006 the island was sold to the Overseas Cambodia Investment Corporation for development

Koh Pich is now a hot spot for real estate investments and mostly inhabited by Chinese. There is little doubt this 75-hectare island will be exclusively for the rich.

In “Elite Town” houses cost up to $1 million USD. Opposite, the “Elysées project” a huge project of $150 million dollars is a replica Haussmann building and L’Arc de Triomphe.

Phnom Penh Villas – a short history

Phnom Penh was an important hub for French colonialists with its wide roads, beautiful gardens, grand villas and colonial mansions earned it the undisputed title ‘Pearl of Asia’ in the 1920s.

From this time, the city expanded rapidly. Chaktomuk is located in Daun Penh; an area under transformation with countless new developments and infrastructure upgrades.

It is a culturally significant area with its landmarks like Wat Botum Park, Botumvatey Pagoda and Independence Monument.

It is also very popular for its many restaurants, cafes, embassies, NGO offices, and boutique hotels.

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