Sihanoukville, known as Kampong Som in Khmer, sits on the Kingdoms’ peninsula of the pristine southern coast on the Gulf of Thailand. As the fourth-largest city in Cambodia, it is a key hub for trade, business and tourism and it has been undergoing massive development. The coastal city also is the capital of Preah Sihanouk province.
Since around 2017, Sihanoukville has seen rapid development, mainly due to skyrocketing tourism and foreign investment from China. The city is seen as a vital cog in China’s One Belt, One Road initiative.
Continued demand for land has pushed up the prices, to a point where it was higher than sought after beachfront land prices in Thailand and Vietnam. Meanwhile, the tourism markets in Thailand and Vietnam are more developed than Cambodia although it is constantly being improved upon. Increase in tourism, trade and infrastructure improvements are driving an increase in rent of accommodation and commercial premises in Sihanoukville. This has caused some residents and business owners to relocate outside of the city centre while the huge development plan is in progress upgrading roads, drainage, access to amenities and at the international airport and seaport.
The city is earmarked as a city of the future and a potential jewel in the crown of Cambodia and SEA. With its coastal and serene landscape and easy access to the tropical island paradise, Sihanoukville’s strategic development is of vital importance to Cambodia.