Office space growing as more firms set up shop in Phnom Penh
The supply of second-tier office space has increased during the first half of 2012 as the number of new firms in Phnom Penh city continues to grow, according to real estate experts. A study by Asia Real Estate Cambodia (ARC) found that office space in the “grade B” category now stands at 118,300 square meters, an increase of 10 percent over last year. The occupancy rate in this class has reached 80 percent. “Grade B” generally refers to office space in buildings that, while still of very acceptable standards, are more than 10 years old and might not be in the most desirable areas of a city. …
