The property sector in Phnom Penh east of the Bassac river is expected to grow after the government green-lighted the construction of a bridge across the river linking Koh Pich to the Koh Norea peninsula in Chbar Ampov district’s Niroth commune. According to a letter sent by Phnom Penh Municipal Hall the Minister of Economy and Finance, Overseas Cambodia Investment Corporation (OCIC) had received approval in principal from the government to develop the Koh Norea area. OCIC plans to transform Koh Norea into luxurious commercial development stretching over approximately 100 hectares and to build a cable-stayed bridge which cost about US$ 50 million for connecting the Koh Pich to Koh Norea.

Real estate experts are not only optimistic that the plan for the new bridge will help traffic flows, but that it will also inject some momentum into local real estate. When completed, the bridge is expected to ease traffic congestion at the Monivong Bridge, which crosses the Bassac river further south and connects Monivong Boulevard in the capital’s Chamkarmon district with National Road 1 in Chbar Ampov district to the east. With bridge connection, Koh Norea will have the potential to attract investment in the real estate sector, especially for the construction of large-scale projects linked to the riverfront. This small peninsula will become a beautiful satellite town adjacent to the heart of Phnom Penh.