Cambodia Investment Review
Megakim World Corp Co., Ltd., the developer behind the Time Square projects, plans to launch developments in Sihanoukville and Phnom Penh in 2027 after winning three awards at the Cambodia Real Estate Awards 2026.
The company received Condo Developer of the Year, Developer of the Year Sihanoukville (Condo) and Best Developer for Quality & Delivery. The awards were presented on November 5 at Hyatt Regency Phnom Penh as part of the Southeast Asia Real Estate Awards programme, organised by Realestate.com.kh.
Managing Director Vladimir Palanchica told Cambodia Investment Review that the company had received recognition in previous years and regarded the latest awards as confirmation that it was performing well and gaining international recognition.
Sihanoukville Project Sold 1,500 Apartments
Megakim’s next planned project in Sihanoukville is Time Square 15 Ocean Waves, a beachfront development expected to include 3,000 apartments, a shopping mall, an international school and a medical clinic. The company plans to open the project in 2027.
Vladimir said the project followed the launch of Time Square 10 Ocean View in Sihanoukville in 2025. The development sold 1,500 apartments in less than six months, he said, with Cambodian buyers accounting for 50% of purchasers and international buyers making up the remainder.
He added the split between local and overseas buyers indicated that investors from both groups were targeting Sihanoukville. The company expects the planned beachfront development to build on that interest, although it has not announced the project’s investment value, construction schedule or sales timeline.
The 3,000 apartments planned for Time Square 15 Ocean Waves would make it a large mixed-use development, combining residential units with retail, education and healthcare facilities. Further details about its design and delivery have not yet been provided.
Phnom Penh Project Also Planned for 2027
The company is also preparing Time Square 16 in Phnom Penh, which Palanchica said would launch in 2027. He did not provide details about the project’s size, location, facilities or investment cost.
With projects planned in both the capital and Sihanoukville, Megakim is positioning its next development cycle across two distinct property markets. Palanchica said the company’s priorities remained completing projects on time, delivering high-quality construction and maintaining affordable prices.
Company Cites Changing Investor Interest
Vladimir outlined that global uncertainty, including continuing and newly emerging conflicts, had prompted some investors to look more closely at Southeast Asia and Cambodia. He said the company was watching these investment movements with optimism and working to meet the expectations of new investors.
The company’s 2027 plans will depend on the delivery of two new developments, including the 3,000-apartment project in Sihanoukville. Megakim has yet to disclose further details on the projects’ financing or construction milestones.
