Mutations of real estate actors’ strategies and modes of capital appropriation in contemporary Phnom Penh

Abstract

The importance of large-scale real estate projects in Phnom Penh’s contemporary development has been stressed in recent research. However, an important part of the local real estate actors, such as small and medium developers, or the emerging elite, has been overlooked. In consequence, important aspects of the reorganisation of the urban spaces production processes after 1980 remain unknown. Using a cross typology of both real estate actors and modes of real estate capital appropriation, I underline the evolution of developer’s actions and strategies since the 1980s. I argue that local real estate actors represent the core of Phnom Penh’s transformations, and have to be studied through a socio-historical perspective. I further argue that an actor-centred approach is necessary to identify the domination structure of the real estate activity. Finally, the article stresses the emergence of new groups of interest (associations of professionals), which will certainly participate to transform power relationships in Phnom Penh’s real estate sector.