With a total area of 43.8 square km in the capital’s southeast, Meanchey is one of the largest districts in Phnom Penh. It is also one of the most populated, with residents numbering more than 200,000. Because of this, many in the industry are talking about the potential of real estate in Meanchey.
Meanchey comprised of Steung Meanchey, Boeung Tumpun, Chak Angrae Leu, and Chak Angrae Kraom communes. It used to be a sleepy, underdeveloped area. Its fortunes slowly changed for the better after Cambodia emerged from a tumultuous period in the early 1990s.
Since the early 2000s, Meanchey has experienced an economic renaissance. The emergence of industrial factories and international property developers means the district is changing quickly.
In just a short time, Meanchey has become one of the fastest developing districts of Phnom Penh. This guide will run through all you need to know about Meanchey real estate. If you’re shopping around check out all of our location profiles.
Currently, Cambodia hosts more than 5,000 boreys (gated community) projects. Several of these residential developments are located within the borders of Meanchey district. Prominent names include:
- Woodland Residences
- Borey Prek Toal
- Borey Chip Mong
- Borey Peng Huoth The Star Eternal
- Borey Penh Huoth The Star Platinum Athina.
Not only do we host tons of listing for new developments in Meanchey district, but we also have listings for boreys in Meanchey. And our guides tell you everything you need to know about the buying process.
Linkhouses and villas in boreys can range from $120,000 up to over $1 million.
Condos in Meanchey, on the other hand, can be found for as low as $30,000. Most are on the market for between $50,000 and $100,000, however.
Getting land fast and cheap
Huge tracts of land that are cheaper than what you will find in other parts of Phnom Penh are available for leasing or sale in Meanchey district.
Generally, commercial land is more expensive than residential lots. Land along the main roads also fetch a higher rate compared to the ones found along the sub-main roads.
According to Key Real Estate, the price of land along the main roads in Meanchey is between $650 and $3,800 per sqm. Along the sub-main roads, it is between $400 and $1,300 per sqm. All the communes tend to be fairly uniform in price. However, Stung Meanchey commune can fetch the highest prices.
Taking advantage of the affordability, Chinese developers and investors have been snapping up land in the area for various residential and commercial developments.
With more investors interested in Meanchey, it is expected that the price of land will increase substantially in the next few years.
The ‘factory district’
Meanchey and surrounding areas in the suburbs are known as the “factory district” of Phnom Penh.
There are more than 1,500 registered factories in Cambodia producing garments, shoes, beverages, plastics, and other products. A lot of these industrial facilities, mainly garment factories, can be found in Meanchey district.
Because of this, many speculate that developments in the area will focus on affordable housing in the coming years. All these workers want a convenient place to live, right? For now, many rent shophouses in Meanchey or apartments. But boreys could become the future of the area.
Houses in Meanchey can be rented for between $250 and $2,000 per month, depending on size and location.
Magnet for investors
Meanchey, particularly the area along Hun Sen Boulevard, is a favourite spot for many property developers, both local and international. Among these are some of the biggest names in the industry. Here are some key factors that investors like:
- Land here is affordable and there’s a relatively large supply (especially as the capital expands southward)
- It’s one of the few flood-free areas of the capital
- The location means that transportation to and from the city is quick and simple
- Attracting labour both from the city and southern provinces is easy
Leading these developers is ING City, which is the largest single development in Cambodia. ING City, whose development is ongoing, is composed of an array of residential, commercial, and retail facilities spread over 2,600 hectares of land.
And perhaps the most blockbuster name investing in Meanchey is Aeon Mall. Reports have said that the company plans to build its third capital shopping centre there. What’s more, the plan is to make the mall bigger than both of its first two outlets combined.
Infrastructure development is often key to the economic growth of an area. Meanchey is no exception. In the last few years, the district has seen many new roads, sewer systems, and other infrastructure. Much activity has focused around Hun Sen Blvd.
In addition to Hun Sen Boulevard and several other major road projects, the government has also built several flyovers in a bid to ease traffic congestion.
To lessen the possibility of flooding, a pumping station was installed between Boeung Tumpun and Hun Sen Blvd. Canals and sewer systems in the area were also repaired and improved.
Getting around Khan Meanchey
Khan Meanchey has a good road network, save for some potholed roads in interior villages. This makes moving around the district quite easy. The city bus service runs through the district, and there are also many tuk-tuks and motodops for hire.
Tons of markets
For your shopping needs, there are many markets, shopping centres, and retail shops in Meanchey. These include New Steung Meanchey Market and Boeung Tumpun Market where everything from fresh produce to dry goods is available.
Western-style shopping is available in such establishments as Lucky Supermarket, Smile, and Phnom Penh Superstore.
Centre of education
Meanchey is host to two big universities- Asia Development University (ADU) and Cambodia University for Specialties (CUS).
Other well-known educational institutions that have a presence in the district include International School of Phnom Penh (ISPP), Beltei International School, Brighton International School, and Khmer British International School.
Dining, drinking and recreation
There is no shortage of eating places in Meanchey. In the past, the area was dominated by small-scale eateries offering local fare. But things have rapidly changed in the last few years.
Now, local eateries and restaurants are facing intense competition, particularly from an array of Chinese, Korean, and Japanese Restaurants. It is not hard to find restaurants with such names like Le Seoul or Korean BBQ in Meanchey.
There is also an abundance of coffee shops in Meanchey, including well-known names like Amazon, Koi, Brown Coffee, and Chatime. Lesser-known names like Coffee Today and Coffee Premium also have a presence in the district.
The district is host to a number of sports and recreation centers, including Meanchey Sports Club, Camko Sports Club, and Akira Sports Club, which is reputed to have one of the best football pitches in Phnom Penh.
A bright future ahead
In just a short period of time, Meanchey has been transformed from an insignificant corner of Phnom Penh to one of its fastest-growing. The question now is whether that trend will continue well into the future.
At the moment, all positive things are aligned in Meanchey’s direction. It is sure to continue its march as the industrial heart of the capital and an overall everyman’s district.