{"id":9721,"date":"2020-10-21T11:49:55","date_gmt":"2020-10-21T04:49:55","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9721"},"modified":"2021-06-04T15:45:02","modified_gmt":"2021-06-04T08:45:02","slug":"location-of-phnom-penhs-new-ring-road-kept-classified-to-prevent-rise-in-land-prices","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/location-of-phnom-penhs-new-ring-road-kept-classified-to-prevent-rise-in-land-prices\/","title":{"rendered":"Location of Phnom Penh\u2019s new ring road kept classified to prevent rise in land prices"},"content":{"rendered":"

If history is any indication, local authorities\u00a0<\/span><\/span>believe that this is a necessary precaution to inhibit the trend<\/span><\/span>\u00a0from arising again<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
A commercial truck with the national flag perched on its back door carries goods to another country along the highway. EveryonephotoStudio\/Shutterstock<\/figcaption><\/figure>\n

As the Ministry of Public Works and Transport (MPWT) mulls over the proposed location of the National Ring Road 4 in Phnom Penh, they announced that they have no intention of disclosing the chosen location as it will prompt an increase in land prices, a trend that they have witnessed in past projects, reported the Khmer Times<\/a>.<\/p>\n

The new ring road will eventually help reduce traffic and freight transit in the capital once completed. But for now, they plan 0n keeping everything under wraps.<\/p>\n

Just this week, they held a closed-door consultation event to inform involved parties about the project\u2019s planned location. The consultation involved ministries, institutions, representatives from 10 local and foreign companies, as well as the team from China Road and Bridge Corp (CRBC) who oversaw the feasibility study for the ring road construction.<\/p>\n

Sun Chanthol, the Minister of Public Works and Transport, explained that they chose to keep the location of the new ring road confidential since they noticed that the value of real estate increased where they have developed major roads, which consequently benefited residents in the area.<\/p>\n

More: Local government contemplates on real estate project worth $25 million in Cambodia<\/strong><\/a><\/p>\n

In recent years, Po Eav Kong, the managing director of Asia Real Estate Cambodia Co, shared that the land values on National Road 3 rose substantially. This upgrade has then led to several commercial and residential projects popping up in the area.<\/p>\n

\u201cInfrastructure developments are pushing land prices up. And, for the past two years or so, the price of land along National Road 3 has risen by 10 percent year-on-year,\u201d added Kong.<\/p>\n

The MPWT said that they will commence the construction of the new ring road once the National Ring Road 3 is completed, which is expected to be done in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

If history is any indication, local authorities\u00a0believe that this is a necessary precaution to inhibit the trend\u00a0from arising again\u00a0<\/p>\n","protected":false},"author":9,"featured_media":20783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[177,502,964,178,963],"class_list":["post-9721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cambodia","tag-land-prices","tag-land-value","tag-phnom-penh","tag-public-infrastructure","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"\nLocation of Phnom Penh\u2019s new ring road kept classified to prevent rise in land prices | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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