New Mekong River Bridge Expected to Begin Construction in 2023
After the government of Cambodia requested assistance from South Korea to build a new bridge crossing the Mekong River, now the project received support from the donor and the Korean company has finalized the study of the new bridge.
HE Sun Chanthol, minister of public works and transport, said the government of Korea has approved the assistance and the Korean company has completed the study. Now we are selecting the location to build the bridge which is expected to begin construction in 2023.
The minister added there are two possible locations under consideration with the first one connecting Water Supply Authority on Keo Chenda Street in Chroy Changvar District to Svay Chrum commune, Ksach Kandal district and the other one connecting Phsar Chas (Old Market) to Sokha area with one bridge and Sokha hotel area to Arey Ksat commune, Lvea Em district with another bridge.
For some professional real estate agents, this is good news for local people and some real estate developers who have been building residential projects in the area.
In an interview with local media, Mr. Sorn Seap, CEO of Key Real Estate, said that the plan to build a new bridge crossing the Mekong River will further boost land prices in Arey Ksyat and Svay Chrum area. Because land price in Arey Ksyat and Svay Chrum area is relatively low compared to that in Phnom Penh, developers become more interested in developing residential project there.
Mr. Seap added land price in Arey Kysat adjacent to the river bank can be found between $500 and $1,000 dollars per sqm while land price in the other side of the river in Phnom Penh costs up to $5,000 dollar per sqm. Thanks to different land price, some real estate developers might consider building more projects in the area after the new bridge is built.
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