As of Q2 2022, Offices & Retails Increase While Rental Rates See a Consistent Downward Trend

By the second quarter of 2022, the number of offices and retails have significantly increased while rental rates have decreased continuously compared to Q1, according to a CBRE Cambodia report on 07 July 2022.

In Q2, the number of offices increased by 66.9% to over 40,000 square meters, with new supply expected in 2022, and 40% of the total supply will be strata title by the end of 2023.

However, rental rates of the office market have decreased by -8.7%, -3.1% respectively for Grade B (NCBD) and Grade C (NCBD), but Grade A, Grade B (CBD), and Grade C (CBD) stay in the stable rate by 0.0% compared to Q1.

For details, they have increased at 68.4%, of which over 190,000 square meters is the remaining supply expected by 2022.

Meanwhile, retail rental rates have decreased by -1.4%, -4.8%, and -1.6% respectively for Prime Shopping Malls, Prime Retail Podiums, and Community Malls, but Prime High Street retails remain at a stable rate of 0.0% compared to Q1.

In Q2, Community Mall occupancy has increased, most recently with Chip Mong 598 Mall being completed in the Russey Keo district.

 

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