{"id":11211,"date":"2021-03-01T15:13:58","date_gmt":"2021-03-01T08:13:58","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=11211"},"modified":"2021-06-04T16:04:32","modified_gmt":"2021-06-04T09:04:32","slug":"cambodias-warehouse-rental-market-stablises-as-covid-vaccines-rollout","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodias-warehouse-rental-market-stablises-as-covid-vaccines-rollout\/","title":{"rendered":"Cambodia&#8217;s warehouse rental market stabilises as COVID vaccines rollout"},"content":{"rendered":"<p><span data-contrast=\"auto\">Vaccine rollouts around the world have led to increased investment projects and bilateral <\/span><span data-contrast=\"auto\">agreements<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_11224\" aria-describedby=\"caption-attachment-11224\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-11224 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1226738392.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1226738392.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1226738392.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1226738392.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1226738392.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/03\/shutterstock_1226738392.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-11224\" class=\"wp-caption-text\">The average monthly rent for warehouse space in Phnom Penh is between USD2 to 5 per square metre. Noomcpk\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">According to industry experts, w<\/span><span data-contrast=\"auto\">arehouse rental prices and demand in Cambodia remain stable year-on-year as COVID-19 vaccination campaigns<\/span><span data-contrast=\"auto\"> in the country and around the world embed a positive outlook for the industry,\u00a0<\/span><span data-contrast=\"auto\">reported <a href=\"https:\/\/www.phnompenhpost.com\/post-property\/warehouse-rental-market-stable-year-set-year-end-boost\" target=\"_blank\" rel=\"noopener noreferrer\">The Phnom Penh Post<\/a>.<\/span><\/p>\n<p><span data-contrast=\"auto\">Tang Hour, chief executive officer at <\/span><span data-contrast=\"auto\">Amatak<\/span><span data-contrast=\"auto\">\u00a0Property Service Co Ltd, mentioned that the warehouse rental demand is strengthening, with\u00a0<\/span><span data-contrast=\"auto\">the majority of instalments<\/span><span data-contrast=\"auto\">\u00a0used for commodity storage and running\u00a0busine<\/span><span data-contrast=\"auto\">sses such as car dealerships and restaurants.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cEven though the market continues to breeze through, some warehouse owners have taken to offering rent discounts for the first few years of occupancy,&#8221; said Hour. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Hour attributed the market\u2019s limited stock to its lower dependence on the number of overseas visitors travelling to Cambodia compared to the condominium and apartment sectors. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">She added that the average monthly rent for warehouse space in Phnom Penh is between USD2 to 5 per square metre, contingent on the location and condition of the facilities while leasing contracts are averaged at five years<\/span><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">On the other hand, Grace\u00a0<\/span><span data-contrast=\"auto\">Rachny<\/span><span data-contrast=\"auto\">\u00a0Fong, executive director of Century 21 Cambodia, presented that rental prices in the provinces continue to lose value<\/span><span data-contrast=\"auto\">, as market recovery overall has been slow but is predicted to pick up by the end of the year.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">According to Fong, warehouses over 1,000 square\u00a0<\/span><span data-contrast=\"auto\">metres<\/span><span data-contrast=\"auto\">\u00a0usually attract the highest demand.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Fong added, \u201cthe market will be bustling from the fourth quarter of 2021, as COVID-19 vaccinations increase the number of investors from each country. Once investment grows, the demand for warehousing will shoot up as well.\u201d <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"http:\/\/asiapropertyawards.com\/en\/with-its-neighbours-still-reeling-from-covid-19-and-political-upheavals-should-cambodia-anticipate-more-fdis\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: With its neighbours still reeling from COVID-19 and political upheavals, should Cambodia anticipate more FDIs?<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">Hong Vanak, director of international economics at the Royal Academy of Cambodia, said that <\/span><span data-contrast=\"auto\">global\u00a0<\/span><span data-contrast=\"auto\">COVID-19 vaccine rollouts <\/span><span data-contrast=\"auto\">have\u00a0induced more investment projects\u00a0<\/span><span data-contrast=\"auto\">approved<\/span><span data-contrast=\"auto\"> by the Council for the Development of Cambodia. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">He also claimed va<\/span><span data-contrast=\"auto\">ccines\u00a0<\/span><span data-contrast=\"auto\">to have\u00a0<\/span><span data-contrast=\"auto\">stimulated work on bilateral agreements with trading partners and encouraged the construction of new infrastructure, which includes the Kingdom\u2019s flagship deep seaport in Preah Siha<\/span><span data-contrast=\"auto\">nouk\u00a0<\/span><span data-contrast=\"auto\">p<\/span><span data-contrast=\"auto\">rovince.\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">As a result, Cambodia\u2019s demand for warehousing will be boosted even further, particularly from mid-2021 onwards.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cAll investment projects require\u00a0<\/span><span data-contrast=\"auto\">warehousing,<\/span><span data-contrast=\"auto\">\u00a0hence the market will enjoy a snowballing in demand, especially once the COVID-19 disease\u00a0<\/span><span data-contrast=\"auto\">situation<\/span><span data-contrast=\"auto\">\u00a0comes completely under control,\u201d Vanak said.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vaccine rollouts around the world have led to increased investment projects and bilateral\u00a0agreements\u00a0<\/p>\n","protected":false},"author":12,"featured_media":21043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[177,1126,1128,1127],"class_list":["post-11211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cambodia","tag-covid19-vaccines","tag-stable","tag-warehouse-market","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cambodia&#039;s warehouse rental market stabilises as COVID vaccines rollout | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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