A new market using shipping containers is popping up in the centre of Phnom Penh, following the popularity of this kind of market locally and internationally.
The Arts Container Market located in the Beoung Kak area, has developed very quickly and was officially launched last week.
Developer Bun Seng said the market aimed to support domestic and international businesses to meet the needs of consumers.
“The establishment of such a business features about 80 booths and the land size covers 3,000 square meters, with a new standard design and a focus on the most popular art forms for Cambodians,” he said.
Mr Seng said he was optimistic and expected the container market to be successful.
The number of container markets has grown quickly in Phnom Penh, Sihanoukville and Siem Reap.
An example of the success is the Jet Container Night Market in front of the National Assembly.
The market supplies food, entertainment, beverages and clothes among other items.
Refurbished and modified shipping containers not only add an industrial edge to projects such as the Jet Container Night Market, they also demonstrate what can be done with these versatile steel boxes that are often left to sit unused in ports indefinitely.
Prime retail rents saw a slight increase across the second quarter. As of the second quarter of 2017, average rents within prime shopping malls were quoted at $31.60 per square metre per month, while community malls quoted an average of $26.90 per square metre, according to a CBRE Cambodia report.
Average quoted rents for prime high-street units increased strongly, up 4.5 percent quarter-on-quarter to $32 per square metre, with top rents in high street positions at $52 per square metre.