CBRE Cambodia | Phnom Penh Marketview for Q3 2019
The number of new condominiums projects launched continued to rise over Q3, with nine new projects comprising of a total of 5,140 units launched. The majority of new supply is located in Chamkarmon and Chroy Changvar districts. Meanwhile, projects close to completion continue to witness delays; Q3 saw stock increase just 5.1%, amounting to 850 units in three projects.
No new office building completed during Q3, however, the relaunch of Alpha Tower did inject 4,000 sqm back into the market. q-o-q, the average occupancy rate fell by nearly 1%.
Whilst there were also no completions in the retail sector, five new retail projects were announced during Q3 2019, adding circa 69,000 sqm to the future retail supply pipeline. Quoting rents remained relatively stable across the sector, with only an upward adjustment of 3.3% in the community mall segment.