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Cambodia's Top Tourist Destination Goes High-End
The speed at which these particular luxury units were snapped up suggests that more similar buildings might be on the way soon. In fact, the development is indicative of what is happening throughout mainland Southeast Asia. Land prices have been rising steadily over the past decade, but building and labor costs remain low. Therefore, constructing high-end buildings allows developers to get the most out of their investment. An interesting aside: the architects and consultants who have been working on most of these high end projects are based in Ho Chi Minh City, which is fast becoming a regional hub to challenge Bangkok.