Known as the Kingdom of Wonder thanks to its unique culture, friendly people, and the lasting heritage of the Angkor Empire, Cambodia has continued its progress as an emerging market in the last ten years. With consistent GDP growth of around 7% over the past decade, thanks in part to policies welcoming foreign investors, it has one of the fastest-growing economies in the world.
And while Cambodia has not escaped the effects of the Covid-19 pandemic, economists are optimistic about the country’s bounce back in 2021 as vaccines are rolled out around the world and global trade ramps up.
One firm that recognizes Cambodia’s potential is Samanea. A Singapore-based development company, Samanea has brought its unique and comprehensive approach to trade-centers across Asia, and their new Phnom Penh location boasts all the services and products that have earned them a reputation as a regional leader in logistics, retail and wholesale markets.
With the construction industry being one of the key economic drivers in the country, it only makes sense that industrial electrical equipment and a selection of tools are offered at Samanea Phnom Penh.
In the world of business, they say location is king and this is as true in Cambodia as it is anywhere else in the world, which explains the Singapore firm’s choice of placement for their Phnom Penh facility. The 500,000 square-meter mixed-use market space is located just 22km from the center of Phnom Penh, making a shopping mission to the market a short trip for those living in the city.
And Samanea’s 26,000 square meter Phase I wholesale and retail market provides the wide variety of products that Cambodia’s growing middle class is after. Boasting over 350 stores, leading brands like Hisense and Midea offer some of the best household appliances and electronics available and the market’s selection of GOODS YIWU products ensures customers will find everything they need, from bedding and kitchenware to kid’s toys and clothing.
The Singaporean developer also recognizes the need for products that cater to Cambodia’s unique market. With the construction industry being one of the key economic drivers in the country, it only makes sense that industrial electrical equipment and a selection of tools are offered at Samanea Phnom Penh. And as more cars fill the streets and highways of Cambodia, Samanea sees this sector as an opportunity, with the Phnom Penh market offering accessories and supplies for automobiles as well as the nation’s 2.5 million motorbikes.
But this unique industrial park has more to offer than just a one-stop-shop for the capital’s consumers.
Scheduled to open shortly, Phase II of the development will focus on tenant needs, offering warehouses and apartments along with support services and logistic solutions, both for brick-and-mortar activities as well as a growing suite of eCommerce and digital support tools. Once again location is an essential part of Samanea’s Cambodian strategy.
As well as being just 22km from the city center, the market is strategically located 10km from Phnom Penh International airport, simplifying air freight logistics in the Kingdom. But perhaps more significant is the site’s placement at the crossroads of National Highway 4 (NH4) and National Road 42 (NR42), linking the country’s maritime shipping hub of Sihanoukville and the soon-to-be developed Koh Kong province to the capital, its market’s and growing infrastructure.
This proximity to NH4 is made even more consequential by the Cambodian Government’s recent groundbreaking on a new highway running parallel to the existing thoroughfare. Increased trade traffic between the port and the capital spurred the construction of the Phnom Penh-Sihanoukville Expressway, a four-lane, 190km stretch of highway that will ease congestion and reduce the travel times and costs of shipping between the country’s two economic centers. Just 4km from access to the Expressway – scheduled to be completed in early 2023 – Samanea Phnom Penh is poised to take full advantage of this new infrastructure.
As Cambodia’s economic momentum returns and international trade gathers steam, this new development has everything that clients need to remain competitive and expand their space in the market. Coupled with a growing middle class and expanding infrastructure in the country, Samanea Phnom Penh could prove to be a key player in Cambodia’s increasingly international trade network.