Retail sector to see sharp decrease in rental prices

Retail sector to see sharp decrease in rental prices

Increasing retail supply in Phnom Penh will see rental prices fall, according to a report released by international real estate agent CBRE Cambodia.

Recently, CBRE Cambodia predicted that in 2019, retail rental prices would decrease due to the additional supply from the retail podium by 116.6%, community malls by 126.3%, and shopping malls by 26.4% compared to the increases seen in 2018.

The increase in supply will make the net leasable area jump to 375,000 square metres in 2019, driven by four segments, namely shopping malls, shopping centres, community malls, and retail podiums.

In addition, monthly rental prices for community malls will fall to about US$26.8 per square metre with pressure mounting most on this type of mall.

Meanwhile, the report also said that nine shopping malls in Phnom Penh will be completed in 2019, including The Olympia Mall, The Park, The Bridge, Phnom Penh Megamall, MiDTOWN Mall, Noro Mall, WB Arena, Chip Mong Baktouk CC, and The Point.

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