Phnom Penh is currently littered with over 600 high-rises, all built in the last decade. In this paper, I look at the shape of price in an uncharted market forged by developers speculating on the built environment, and working to bind and unleash value through new projects. Specifically, the author focuses on the city’s first high-rise, which catalysed the city’s vertical turn, compelling others to build tall in Phnom Penh.
