Cambodia Investment Review
Cambodian property developer Picasso City Garden Development Plc has received in-principle approval to list on the Cambodia Securities Exchange (CSX) Growth Board in 2025.
The Cambodia Securities Exchange confirmed the approval in a July 10 press release, noting that Picasso City Garden Development is the first company in 2025 to pass the listing eligibility review for the Growth Board. Final listing will require additional clearance from the Securities and Exchange Regulator of Cambodia (SERC).
Once listed, Picasso City Garden Development will become the first Diversified Real Estate development and second property developer to debut on the CSX Growth Board, following JS Land Plc, which raised nearly $3.8 million in its initial public offering (IPO) raising 8.1 million in 2022.
Luxury Meets Licensed Artistry in BKK1
Picasso City Garden’s flagship development is a 30-storey luxury condominium tower in Phnom Penh’s Boeung Keng Kang 1 (BKK1) district. Completed in 2021 and opened for occupancy in 2022, the project blends modern Khmer architectural themes with Cubist design elements inspired by Pablo Picasso—under an official license from the Picasso estate (pcgdevelopmentplc.com.kh).
Developed by Titan Stone Real Estate, the high-rise features 144 freehold condominium units, banquet and meeting halls, an infinity pool, fitness center, Casa Picasso restaurant, and an art auction gallery. The project has positioned itself as Cambodia’s first internationally branded, art-inspired residential tower.
This public offering reflects the CSX’s continued push to diversify listings and encourage smaller, high-potential companies to tap capital markets through the Growth Board, which is designed for firms with lower capital requirements compared to the main board.
Future Expansion and Brand Pipeline
Looking ahead, the firm is preparing for additional real estate ventures, including the upcoming “Picasso Sky Gemme”, a proposed 52-storey residential tower that will expand the developer’s artistic concept into larger-scale, high-rise living.
The company also launched Cambodia’s first Picasso-authorized showroom gallery in April 2025, underscoring its strategy to blend luxury real estate with cultural branding.
