Time Square 11 Phnom Penh: Invest in Cambodia’s Fastest-Selling Condo Tower

Not every property investment opportunity arrives with a clear track record attached. The Time Square 11 in BKK3-Phnom Penh does. Developed by Megakim World Corp, a company that has already completed and sold out multiple towers across Phnom Penh, this 39-floor high-rise in BKK3/Chamkarmon is the latest addition to one of Cambodia’s most recognised condominium brands. Units are moving quickly, and there are sound reasons why.

For international buyers, and in particular for investors from outside Cambodia looking for a dollar-denominated asset in a market free from Western financial restrictions, Time Square 11 represents the kind of entry point that rarely survives a slow decision-making process. More than 60% of units across the active Time Square portfolio had already been taken by early March, following the same sell-through pattern the brand has demonstrated with every previous launch.

The Project: What Time Square 11 Actually Delivers

Time Square 11 is a premium-segment tower rising 39 floors above the BKK3 district of Chamkarmon. It sits within comfortable reach of BKK1, Phnom Penh’s most established international address, and close to Toul Tom Poung, known locally and internationally as the Russian Market. This is not peripheral real estate. It is central Phnom Penh, in a district with proven rental demand from expatriates, professionals, embassy staff, and the expanding population of foreign nationals living and working in the capital.

The development is not a bare-shell project asking buyers to guess at finishing quality. Units are delivered fully finished, furnished, and fitted to a premium standard, reducing the post-purchase logistics that catch many first-time foreign buyers off guard. The building itself carries five-star hotel-style infrastructure throughout: an aqua centre and spa, a fully equipped gym, a sky restaurant, a cinema, co-working spaces, and underground parking. For tenants choosing between competing rental options in the same district, this amenity profile makes the decision straightforward.

Unit Mix and Pricing

The unit mix runs from studios through to one- and two-bedroom apartments, with starting prices from approximately $45,000 USD. For a fully finished, freehold condominium unit in a high-rise tower with this specification, in this location, that pricing places Time Square 11 firmly at the competitive end of the Phnom Penh market. Completion is targeted for June 2029, making this a pre-sale entry with a clear construction and handover timeline.

The Payment Structure: Designed for Overseas Investors

One of the more practical attractions of Time Square 11 is the installment structure. A 20% deposit secures the unit at contract. From there, payments are 1% of the purchase price per month over a 35-month construction period, with the remaining 45% due at the key handover in 2029. This approach removes the pressure of large lump-sum commitments during construction and allows buyers to manage their capital across a multi-year window.

For international investors reallocating funds from other markets, this staged payment model is particularly well-suited. It locks in today’s pre-sale price while spreading the actual capital outlay over three years, meaning any appreciation between now and completion is effectively magnified on the initial deposit. Buyers entering markets like this at the pre-sale stage, with a credible developer and a known delivery timeline, are buying into the capital growth story at its earliest and most favourable point.

Payment Plan at a Glance

• 20% payable at contract signing
• 1% per month across 35 months during construction (totalling 35%)
• 45% payable upon key handover in June 2029

Why Megakim World Corp’s Track Record Matters

Developer risk is one of the most frequently underestimated factors in off-plan property investment, particularly in emerging markets. The question most buyers fail to ask with sufficient rigour is not whether the project looks attractive, but whether the developer has a consistent history of actually delivering what they sold. With Time Square 11, that question has a clear answer.

Megakim World Corp completed Time Square 1 in 2017, Time Square 2 in 2021, and Time Square 3 in 2023. Time Square 306 and Time Square 5 are at 98% construction completion and due for handover in 2025. Times Square 6, 7, 8, and Gatsby 9 are currently under construction and for sale. This developer has been building, completing, and handing over projects across multiple market cycles, including during the COVID-19 disruption. That continuity matters enormously when evaluating whether a pre-sale commitment will result in a registered title deed in four years.

The sell-through velocity across the portfolio adds a further layer of validation. Time Square 10 in Sihanoukville passed 70% sold within weeks of launch. Time Square 11 is following the same pattern, with more than 60% of units across the active portfolio already committed in the early months of sale. That is not marketing language. It is evidence that buyers with existing knowledge of this developer are returning, and that new buyers entering the market are finding the proposition compelling enough to act quickly.

The Location: Why BKK3 and Chamkarmon Work for Investors

Phnom Penh’s BKK1 district has long been the benchmark address for international tenants and buyers. BKK3, which shares the same Chamkarmon administrative district, benefits from proximity to BKK1’s infrastructure and amenity base while offering newer development stock at more accessible price points. The distinction matters to investors because it means competitive rental demand without premium capital outlay.

The Toul Tom Poung area immediately adjacent, commonly known as the Russian Market, has functioned as one of Phnom Penh’s most active international residential neighbourhoods for decades. The market itself attracts expats, tourists, and a consistent stream of international foot traffic. The surrounding streets have a high concentration of cafés, international restaurants, co-working venues, and convenience retail that tenants actively seek when choosing where to rent. This is the kind of neighbourhood profile that reduces vacancy periods and supports stable rental pricing.

For Russian-speaking buyers in particular, the Russian Market connection carries a genuine resonance. The area has been home to Russian expats, businesses, and community infrastructure for many years, and its continued relevance as an international district makes it a natural first consideration for buyers from the CIS region assessing where to place capital in Phnom Penh.

Rental Yield and Capital Growth Potential

Central Phnom Penh condominiums from established developers in well-located districts are currently delivering gross rental yields in the 6% and up to 11% range! For a project like Time Square 11, which arrives fully furnished with hotel-style building infrastructure and a known brand behind the management proposition, achieving consistent occupancy in the expat and professional rental market is a realistic expectation rather than an optimistic projection.

Capital appreciation across Phnom Penh’s mainstream condominium segments is forecast at 5% to 10% annually over the medium term, supported by GDP growth projections of around 5%, ongoing infrastructure investment, including the new Techo International Airport, and continued inward migration of international businesses and their staff. Buyers who secure a unit at current pre-sale pricing have the additional advantage of locking in a price that will not be available once the project progresses through construction milestones.

Why Purchase Through Riel Property

Choosing which property to buy is only part of the decision. Choosing how to buy, and what support you have after the purchase, matters as much, particularly for buyers who are not based in Cambodia and cannot physically supervise the process.

Riel Property is built specifically for international investors who want clarity over sales pressure. The platform was created by foreign investors, for foreign investors, and the entire service model is structured around what overseas buyers actually need: detailed project intelligence, honest risk framing, and reliable on-the-ground execution from someone who stays involved after the sale is complete.

What the Riel Property Process Looks Like

• Structured project intelligence: Every listing on Riel Property is presented in an investor memo format, covering completion timelines, unit mix, price per square metre, ownership eligibility, yield framing, and risk notes. This is not brochure copy. It is decision support.
• Unit selection inside the building: Floor, stack, view corridor, noise considerations, and view obstruction risks all affect the rental and resale performance of individual units. Riel Property advises on unit selection within a project, not just project selection within the market.
• Remote purchase support: For buyers purchasing from overseas, including Power of Attorney pathways where required, Riel Property coordinates the transaction with trusted local professionals and keeps the buyer informed through every milestone.
• Handover coordination and snagging support: When Time Square 11 reaches completion in 2029, Riel Property manages the handover process on the buyer’s behalf, including snagging checks and any remedial follow-up with the developer.
• Furnishing, lettings, and ongoing ownership support: Fully furnished units are a significant advantage, but placing a quality tenant quickly, managing renewals, coordinating maintenance, and keeping a remote owner informed requires a reliable local partner. Riel Property provides exactly this through its network of on-the-ground operators.
• USDT accepted for applicable service fees: For buyers managing capital in cryptocurrency, Riel Property can accept USDT for applicable service fees where permitted, subject to standard KYC and compliance procedures.

Most agencies and developers focus on closing the sale and moving on. Riel Property’s model is built on the opposite logic: long-term owner success is the business. That means buyers are supported not just through the exchange of contracts but through handover, tenant placement, and ongoing ownership. For investors purchasing from Russia, Europe, or anywhere outside Cambodia, that continuity of support is not a luxury. It is a practical necessity.

Time Square 10 in Sihanoukville: The Coastal Alternative

For investors weighing capital-city rental income against coastal lifestyle and yield potential, the Time Square portfolio also offers Time Square 10 on Otres Beach in Sihanoukville. Beachfront units start from around $40,000, with projected yields of 8% up to 11% driven by the recovering tourism market and the beach-lifestyle rental demand that Sihanoukville’s infrastructure upgrades, including the improved coastal expressway, are expected to support.

More than 70% of Time Square 10 units sold within weeks of launch. The same Megakim World Corp track record applies, and the same Riel Property support framework is available for buyers considering the Sihanoukville entry. The two projects together offer investors the option to build a Cambodia portfolio with both urban rental depth and coastal yield upside, at price points that remain extremely competitive by regional standards.

Who Time Square 11 Is Right For

• Rental income investors who want consistent occupancy from Phnom Penh’s established expat and professional tenant market, with a fully furnished, managed product in a proven location.
• Capital growth buyers entering at pre-sale pricing with a 2029 completion timeline, giving the investment four years of appreciation potential before handover.
• Asset diversification investors looking for USD-denominated real estate outside European jurisdictions, with freehold title and no sanctions-related ownership barriers.
• First-time Cambodia buyers who want the reassurance of a developer with a multi-project completion history and the support of an agency that stays engaged through the entire ownership journey.
• Lifestyle relocators planning a future move to Phnom Penh who want to secure a central address now at today’s pricing, with the option to occupy, rent, or do both.

The Honest Assessment

Time Square 11 is not a speculative bet on an unknown developer in an untested location. It is a pre-sale entry into a 39-floor premium tower from a developer that has been delivering buildings in this city since 2017. The BKK3/Chamkarmon location has demonstrated rental depth across multiple market cycles. The payment structure is manageable for overseas buyers. The freehold title is clean and legally straightforward for foreign nationals.

The main risk is the same as any off-plan purchase: completion timelines can shift, and construction-phase market conditions can change. These are risks that proper due diligence, developer verification, and experienced purchase support help to manage, but they cannot be eliminated. Riel Property’s role is to ensure buyers enter this process with clear eyes, full information, and reliable support throughout.

With more than 60% of the active portfolio already committed and a completion date four years out, the window for pre-sale pricing on the remaining inventory at Time Square 11 is finite. Buyers who are considering Cambodia property as a serious allocation should treat this as a project to evaluate now, not to revisit when availability is further reduced.

To view available units, pricing details, and full project documentation for Time Square 11, contact us now and speak with the team about securing your Time Square 11 best available apartment.