Cambodia Investment Review
Cambodian developer Time Square has launched two new residential projects in Phnom Penh, signaling continued confidence in the country’s property market despite ongoing global economic uncertainty and challenges facing parts of the real estate sector.
The company officially broke ground on Time Square 9 – The Gatsby Residence and Time Square 11 – The Time Castle on June 8, bringing together investors, business leaders and industry stakeholders for a ceremony that highlighted growing optimism around Cambodia’s long-term urban development prospects.
The launch comes at a time when Cambodia’s property market is navigating a mixed environment. While some developers have slowed activity amid global economic headwinds and regional uncertainty, Time Square said it sees an opportunity to expand its footprint and capture demand in key segments of the residential market.
“Due to the international economic situation and regional challenges, some developers have stopped working,” said Vladimir Palancica, representing Time Square. “For our company, this is a good time to make the market more active.”
Luxury Focus in Prime BKK1 Location
The centrepiece of the launch is Time Square 9 – The Gatsby Residence, a 39-storey luxury condominium located in Phnom Penh’s prime BKK1 district, one of the capital’s most established residential and commercial areas.
According to the developer, the project represents the most ambitious luxury development in the company’s portfolio to date.
“TS9 Gatsby is the most luxurious project in our portfolio,” Palancica said. “It has a premier location, a completely different design from our other projects, and there are very few remaining sites in BKK1 where such a large condominium can still be built.”
The development will feature a rooftop infinity pool, sky bar, fitness centre and other premium amenities aimed at both owner-occupiers and investors seeking high-end residential properties in the capital.
Local Buyers Driving Market Stability
Time Square said buyer demand remains balanced between domestic and international investors, a trend management views as a positive indicator for Cambodia’s economic resilience.
According to Palancica, approximately half of the company’s buyers are Cambodian, while the remaining purchasers come from a diverse mix of international markets including China, Japan, South Korea, Russia and Europe.
“We are seeing that around half of our clients are local Cambodians, which is a good sign of the country’s economic stability,” he said.
The growing participation of Cambodian buyers reflects a broader shift in the market, where domestic demand is increasingly complementing traditional foreign investment flows.
Confidence Built on Delivery Track Record
Time Square has expanded steadily across Phnom Penh over the past decade, developing projects in BKK, Toul Kork and Toul Tom Poung, while recently extending its presence to Sihanoukville’s Otres Beach area.
The developer argues that execution and project delivery remain critical differentiators in the current market environment.
“The reputation of Time Square is well known,” Palancica said. “We are one of the largest and most trusted developers in Cambodia. We always complete our projects on time, and sometimes even ahead of schedule.”
As Cambodia continues investing in major infrastructure projects, including the new Techo International Airport, expressway networks and urban transport improvements, developers are increasingly positioning themselves to benefit from future growth in residential demand.
For Time Square, the latest launches represent both an expansion of its portfolio and a longer-term bet on Phnom Penh’s continued transformation into a regional business and investment hub.
“The glory days for Time Square are only beginning,” Palancica said. “We are confident that we will continue to impress our clients with new projects in the future.”
