The 12,886sqm open-air Dara Samnang Business Center was officially inaugurated on Friday. PREAH SIHANOUK PROVINCIAL ADMINISTRATION
Dara-Sina Broker Co Ltd’s $1.53 million open-air commercial centre was officially inaugurated in Preah Sihanouk province on Friday, in what a real estate insider described as a sign of the coastal province’s economic return to form.
The Dara Samnang Business Center is built on 12,886sqm along National Road 4 in Sihanoukville’s Commune I and boasts 408 stalls and booths that are grouped by categories such as daily necessities, sale outlets, cosmetics and restaurants.
Provincial governor Kuoch Chamroeun, who presided over the inauguration ceremony, said the centre will boost the image of the provincial capital and will provide jobs for locals.
Additionally, he said, it reflects investor confidence in the Kingdom’s political climate and strong economic growth.
“This is a testament to the investor confidence in the Royal Government of Cambodia. The establishment of the new business centre will contribute to the development of the nation,” Chamroeun said.
He called on Dara-Sina Broker’s management to keep close tabs on operations, order, security, safety and hygiene in the centre and in the surrounding areas.
Dara-Sina Broker representative Mom Dara told The Post that the project aims to fulfil the local demand for safe, hygienic shopping areas.
He stressed how rapidly Sihanoukville has improved, especially following the recent stream of State-funded infrastructure projects intended to reel in more tourists and investors.
“Given the potential of its location and design, Dara Samnang Business Center’s stalls and booths have been 100 per cent leased,” Dara said.
The government has identified Preah Sihanouk province as one of Cambodia’s main economic poles, as it is home to the Kingdom’s sole deep-sea port.
It has earmarked substantial sums of funds for infrastructure construction and renovation in a bid to transform Sihanoukville into a modern metropolis brimming with beautiful natural scenery, pleasant living environments, tourist attractions and investment opportunities.
Oem Senghou, a branch manager at Sihanoukville-based Century 21 Zillion Holding, a sub-franchise of real estate agency Century 21 Cambodia, told The Post that trade and investment activities in the province have made a gradual recovery following a prolonged decline in business activity.
“The opening of the new business centre bodes well for the beginning of a pick-up in investment inflow to Preah Sihanouk,” he said.
As businesses grow, so too do real estate transactions, he noted.
He said the rental market for commercial and residential buildings in Sihanoukville has enjoyed a 40 per cent surge compared to the beginning of this year.
But third-quarter real estate prices haven’t changed much from the first quarter, with average per-sqm prices at between $3,500 and $5,000 in the central business district and between $400 and $800 in more remote suburbs, Senghou said.
