CBRE Cambodia | Phnom Penh Marketview for Q4 2020
Over the course of Q4, the office sector witnessed further rental corrections across four subsectors. Additionally, the retail sector saw further pressure on retail podium and community mall rents, with prime shopping malls and prime high street rents unaffected.
Compared to H1 2020, the serviced apartment sector experienced a drastic decrease in rent for both Grade A and Grade B segments. Announcements of new projects remained low throughout the quarter, only the condominium sector recorded launches, adding 3 to the 17 already announced over the course of 2020.
The number of construction projects approved for investment reached 841, by the year end, a 1% increase y-o-y. However, the value of projects fell significantly to US $7.8 bn, a 32% decrease y-o-y.