There are many locations in Cambodia that are fairly attractive for both expats and locals. And one of the most attractive areas people are eyeing these days is Toul Kork, especially since land prices in BKK have skyrocketed in recent years.
In an exclusive interview with Realestate.com.kh, CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee, Alex Evengroen answers questions about why Toul Kork is becoming an increasingly popular area and why it deserves all the attention it’s getting right now, and more.
Toul Kork Character:
Toul Kork is a place that’s vibrant with life and its own unique spirit. And according to Evengroen, it’s also brimming with youthful energy which is a complement to the many activities you can do there - such as watching dance performances in the nearby Apsara Arts Association center, or “bicycling or walking around, or having barbecues outside without getting run over by trucks and cars.”
This means that it’s also a safe place to live, just a few minutes away from the hustle and bustle of the big city. And much of the area is still owned and resided-in by locals, so Toul Kork does offer a mix of modern and traditional cultures.
But it will soon also cater to more expats during its expansion process, with all types of international franchise brands entering the retail space, and a new generation of condos for sale under construction and more and more serviced apartments for rent coming online.
Anthony Perkins, director of special projects, finance & investments at the Royal Group of Companies, says that, “If you have a family and are not particularly concerned about your travel distance to work, Toul Kork should definitely be considered as a prime place to find a home for rent or sale.”
Speaking of expansion, Toul Kork is also a growing area full of opportunities for investment and construction. Evengroen says that there are already ongoing projects and new developments that are expected to come into completion in the next few months to the next few years. This will make land and properties more attractive for investment, as these new projects will attract all kinds of new residents and retail options to the area.
He continues to say that most of the ongoing construction projects in Toul Kork are for commercial properties. He also predicts that even with the large supply of shop houses, villas and condos being built right now, detached and semi-detached properties will become even more popular in Toul Kork.
Evengroen adds that if you have the money and you can invest, it would be wise to invest now while land prices are competitive and the government is stable. In a few more years, you can resell the properties in Toul Kork and make significant profit.
One concern potential investors and buyers are particularly wary of in Phnom Penh generally is the traffic situation. Be careful to consider the current developments’ eventual effect on traffic.
Evengroen brushes this off, however, and says that the traffic situation is already something that’s been anticipated in Khan Toul Kork. This is why wider roads have been built in Toul Kork, to proactively address the large volumes of vehicles that will occupy the streets once developments and construction in the area reaches its peak.
Services & Accessibility:
Another factor that makes Khan Toul Kork appealing is the convenience of being near international standard malls, shops, and service centers.
Restaurants and fast food places like Burger King, Pizza Company and various cafe chains are everywhere these days. There are also nearby schools and hospitals for families, such as the Toul Kork Health Center and the Zaman International Primary School. It has everything you may ever need to survive and live a comfortable life in central Phnom Penh.
There are many more things that make living in Toul Kork desirable. But words can only do so much. Evengroen suggests taking a ride around the area on a peaceful Saturday afternoon to see its beauty up close - and to grasp the fullness of the area’s life.
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