Logistics and insurance firms driving office market
Increases in Cambodia’s GDP and foreign direct investment (FDI) are helping to drive the supply and demand in the Kingdom’s office sector, according to a new report from global property agents CBRE. ... Increasingly, international businesses are favouring Cambodia, in particular Phnom Penh, mainly due to the stable economic growth and the integration with the ASEAN Economic Community in 2015. The office market remains positive with the imminent arrival of the Vattanac Capital, Cambodia’s first international Grade-A office building, which is now due for completion later this year. This will set a precedent for future development, and bring further confidence to the sector. ... Across all office grades, the current market average rent is equal to $15 per square metre, although this is set to increase with the launch of the first Grade A office space increasing the average rents. In addition, parking spaces are becoming increasingly favoured by new tenants, as they require additional space for their employees. Landlords also benefit as it provides an additional income-stream of up to $160 per space. ...
